The shares of an FMCG company, specializing in civil construction and related services, including general contracting and project management, for various sectors like industrial, commercial, and residential projects, jumped upto 9 percent upon signing a five-year MoU with the Food Processor Cooperative USA.
Price action
With a market capitalization of Rs. 90.46 Crores on Monday, the shares of Himalaya Food International Limited jumped upto 8.9 percent, making a high of Rs. 16.16 compared to its previous closing price of Rs. 14.84.
What Happened
Himalaya Food International Limited has signed a five-year Memorandum of Understanding (MoU) with the Food Processors Cooperative USA. The agreement involves the production of a breakfast range of frozen food products for the U.S. food service market. This partnership aims to revive the company’s U.S. business, which was impacted by a fire in May 2022.
About the Company
Himalaya Food International Limited, formerly known as Himalaya International Ltd., is a leading food processing company specializing in the production of frozen food products. The company offers a range of frozen foods, including snacks, vegetables, and ready-to-eat meals, catering primarily to the domestic and international markets.
Product Profile
The company cultivates mushrooms and baby potatoes and manufactures food items, including indigenously processed Italian cheese, paneer, yogurt, sweets, snacks, and breaded appetizers (eggplant, cheese, mushrooms). These products are sold under the Himalya Fresh brand.
Key Insights
Himalaya Food International Limited has a P/E ratio of 17.67, which is significantly lower than the industry average of 54.94. The company is debt-free, showcasing its strong financial position and efficient management.
Financials
The company’s revenue rose by 2.75 percent, from Rs. 10.53 crore to Rs. 10.82 crore in Q3FY24-25. Meanwhile, the net profit rose from Rs. 0.55 crore to Rs. 0.88 crore during the same period.
Written by Sridhar J
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