The share price of this micro-cap jumped by 8.7 percent to Rs 97.90 a share after the company granted a license to private companies for manufacturing Ayurvedic products.
On Tuesday, Source Natural Foods & Herbal Supplements Ltd’s share closed at Rs 97 per share, up 7.80 percent from the previous close price. The company has a market capitalization of Rs 63 crore.
According to the exchange filing, Source Natural Foods & Herbal Supplements Ltd granted approval for the following to manufacture and market two nasal spray ayurvedic medicines.
Indus Biotech Pvt. Ltd received a Loan License to manufacture Avalife Breazy Nasal Spray and Avalife Breazy Nasal Spray by AYUSH.
In addition to this, From Lozet Pharma Pvt. Ltd received approval from Curfee Powder Sachets by FSSAI.
The company’s revenue has decreased yearly, from Rs 21.53 crore in Q2FY23 to Rs 19.79 crore in Q2FY24. During the same timeframe, Net profit has increased from Rs 2.43 crore to Rs 2.12 crore.
In a recent fiscal year, the company reported a net profit margin of 10.72 percent and an operating margin of 15.01 percent. In addition, the company’s return on equity is at 11.97 percent, and the return on capital employed is at 16.26 percent.
In FY23, the Company received 1% of its income from exports and 99% of its revenue from domestic sales.
As of the recent shareholding pattern, the company promoter holds a 74.37 percent stake in the company and retail investors hold a 25.62 percent stake in the company.
Source Natural Foods and Herbal Supplements Ltd provides Ayurveda, Health and Dietary Supplements, and Food Products. The company’s Product portfolio includes BeveragesSupplements, Single Herbs, and Churnas.
Written by Omkar Chitnis
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