On Thursday, a multibagger penny stock rose up to 1 percent after entering into a marketing arrangement with “SOLV,” a B2B e-commerce platform.
The stock has delivered a multibagger return of 169 percent over the past year. So, an investment of Rs 1 lakh in this stock a year ago would now be worth Rs 2.69 lakh.
With a market capitalization of Rs 195 crore, Srivari Spices and Foods Ltd. started its trading session on a higher note of Rs 279, which rose by 1 percent from the previous close of Rs 276.50 per share to an intraday high of Rs 279 per share.
Srivari Spices and Foods Ltd. has entered into a marketing arrangement with “SOLV,” a B2B e-commerce platform, to enhance market reach. With this arrangement, the company aims to leverage the tools and resources offered by “SOLV” for seamless business transactions, market expansion, and streamlined operational processes nationwide.
Looking at the financials of the company, revenue from operations increased by 103 percent, from Rs 17.6 crore in FY22 to Rs 35.81 crore in FY23. Similarly, the net profits increased by 329 percent from Rs 0.73 crore to Rs 3.13 crore during the same period.
The key financial metrics show that return on equity stands at 44.4 percent and return on capital employed stands at 35 percent in the trailing twelve months (TTM).
The company primarily operates in the southern part of India, in Telangana and Andhra Pradesh, and it produces products such as spices, masala, and flour.
The shareholder pattern of the company shows that 69.94 percent is held by the promoter, followed by Rs 28.38 percent held by the public and the remaining 1.68 percent by foreign institutional investors.
Srivari Spices and Foods Ltd. is an indian based company that primarily operates in the southern part of India. It is engaged in the business of producing, marketing, and selling spices and flour. The business model of the company is B2B, and it has approximately 15k retail outlets across India.
Written By Praveen R
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