Shares of this small cap FMCG company gained 3.05 percent after the company announced robust growth in Q2FY24 with profit growth of 690 percent. The company has a market capitalization of Rs. 1,308 crores.
At 09:45, 6th October shares of Mishtann Foods Ltd were trading at Rs. 13.48 per share, up by 3.05 percent from previous closing price of Rs. 13.08 per share. The stock has delivered 79.59 percent return in the last 6 months.
Such bullish stock price movements were observed after the company reported quarterly results for Q2FY24 in which company’s revenue grew by 99.5 percent to Rs. 318.39 crores in Q2FY24 from Rs. 159.58 crores in Q2FY23, moreover profit grew by 690.50 percent to Rs. 87.43 crores from Rs. 11.06 crores. Furthermore, Company’s PAT margin went to 27.46 percent from 6.93 percent YOY.
Looking at the profitability ratios, the company reported return on equity (ROE) of 39.72 percent and return on capital employed (ROCE) of 46.44 percent in the last financial year.
The company’s promoters possess roughly 49.82 percent of the shares, while the public own 47.90 percent leaving the remaining 2.28 percent with the foreign institutional investors (FIIs).
Incorporated in 1981 Mishtann Foods Limited is an India-based agro-product company. The Company is primarily engaged in the business of manufacturing, processing and trading of rice, wheat and other food grains. Currently company has 15 Super Stockist in 10 states with 70000 plus Retailers
Written by: Vinit Israni
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