Sarveshwar Foods zooms as its arm secures order worth Rs 44.5 crore
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Sarveshwar Foods is currently trading at Rs. 9.60, up by 0.56 points or 6.19% from its previous closing of Rs. 9.04 on the BSE.
The scrip opened at Rs. 9.19 and has touched a high and low of Rs. 9.74 and Rs. 9.15 respectively. So far 1218604 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 15.73 on 28-Feb-2024 and a 52 week low of Rs. 4.50 on 08-Dec-2023.
Last one week high and low of the scrip stood at Rs. 9.74 and Rs. 8.71 respectively. The current market cap of the company is Rs. 935.75 crore.
The promoters holding in the company stood at 54.82%, while Institutions and Non-Institutions held 0.05% and 45.13% respectively.
Sarveshwar Foods’ wholly-owned subsidiary -- Green Point has secured 12,000 MT order for Indian Long Grain Parboiled Rice from Monarda Commodities. The total value of order is around Rs 44.5 crore. This order represents a substantial addition to its subsidiary’s revenue pipeline and make it convenient to achieve its annual targets.
This order is part of the subsidiary's strategic drive to achieve over Rs 200 crore business during the current fiscal year. This order further strengthens Sarveshwar Foods position, with the global rice-based products market expected to grow from $26.36 billion in 2023 to $361.41 billion by 2031, driven by increasing demand for gluten-free alternatives.
Sarveshwar Foods is engaged in the business of processing and marketing of branded and un-branded basmati and non-basmati rice in the domestic and international markets.
