Multibagger stock which one of the largest FMCG players in Eastern India jumped 5% in the day’s trade, upon acquisition of land for a greenfield project to expand its footprint.
With a market capitalization of Rs. 562 Crores, the shares of Annapurna Swadisht Limited closed at Rs. 339.70, up 5.19 percent from its previous day’s close price of Rs. 322.95. It has delivered multibagger returns of 103 percent in a year.
Annapurna Swadist Limited has acquired a 6 acre plot on long term lease for greenfield project to start a new manufacturing facility at Tezpur Assam, to expands its footprint in the North East markets.
This will enable Annapurna Swadist Limited to cater to the Assam Market and itsadjoining periphery, thereby offering choices to the consumers across various categories enhancing the brand visibility in the North East part of India.
Annapurna Swadist Limited is one of the largest FMCG players in Eastern India engaged in the business of manufacturing and supplying various types of snacks and food products like candies, sweets, savories, biscuits, beverages and many more.
Its revenue from operations grew by 1,250 percent from Rs. 12 Crores in FY22 to Rs. 160 Crores in FY23, accompanied by increasing profits of Rs. 1 Crore to Rs. 7 Crores.
It has reported a return on equity (ROE) of 20.9 percent and a return on capital employed (ROCE) of 23.4 percent, it is making good returns on its equity and capital employed.
Written by: Bharath K.S
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