Share price of this penny stock moved up by nearly 4.6 percent on NSE to Rs. 11.35 in the morning trading session of Friday, compared to the previous closing price of Rs. 10.85, after the company was awarded rice export bids worth about Rs. 50 crore.
With a market capitalisation of Rs. 1,006.2 crores, in the last one year, Sarveshwar Foods Limited has delivered positive returns of about 32.9 percent and around 110.2 percent of multibagger returns in the last six months. So far in 2024, it has given positive returns of around 76.07 percent.
According to recent regulatory filings with the stock exchanges, Sarveshwar Foods announced that it has successfully been awarded bids to supply 90,000 quintals of premium white rice to Africa.
This bid was awarded through the government’s nodal agency National Agricultural Cooperative Marketing Federation of India Ltd. (NAFED) for about Rs. 50 crore (or $6 million).
The award of this rice export bid to Sarveshwar Food highlights the company’s supply chain management prowess, both in terms of quantity and quality, as well as its market leader position in delivering international standards quality rice in bulk.
In terms of financials, the company’s revenue from operations grew by 11.7 percent QoQ from Rs. 205.22 crore in Q2 FY22-23 to Rs. 229.38 crore in Q2 FY23-24.
The net profit of the company also increased by around 2.07 percent QoQ, from Rs. 4.83 crore in Q2 FY23-24 to Rs. 4.93 crore in Q3 FY23-24.
Sarveshwar Foods Limited (SFL) is engaged in the business of manufacturing, trading, processing, and marketing of branded and un-branded basmati and non-basmati rice in the domestic and international markets.
Written by Shivani Singh
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