Saturday, July 13, 2024

Mishtann Foods Enters into New Product segment Launches Rock Salt Announces Bonus Shares

Mishtann Foods Ltd. (BSE: 539594) has announced its launch of Rock Salt under the brand of “Mishtann” in the retail market with the packaging of 500 grams and one Kilogram on the auspicious occasion of Akshaya Tritiya on May 03, 2022, and will be available across India through its retail network of approximate 72000+ retailers. Mishtann Foods Ltd. is engaged in manufacturing and marketing a large variety of rice with a focus on Basmati Rice, and pulses like dal have journeyed into unchartered spheres and territories, elevating enroute the industry standards due to stringent quality control practices, is on a growth path with several new plans.

Mishtann Rock Salt has several health benefits which include promoting digestion, boosting metabolism and immune system due to the presence of Vitamin K, treatment of sore throat, stabilising blood pressure, promoting healthy skin, etc. India has a huge rock salt market due to its enormous health benefits and is loaded with sodium chloride and other different micronutrients such as calcium, magnesium, iron, sulphur, zinc, oxygen, hydrogen, and cobalt. Like common salt, it is not refined and present in its pure crystalline form and does not contain any harmful chemicals like in common salt. This prevents rock salt from getting soggy. 

Recently, it announced excellent results for the quarter and year ended 31 March 2022 For the quarter ended March 2022,  the revenue from operations grew 45% YoY, from Rs. 105.81 crore (Q4FY21) to Rs. 153.47 crore (Q4FY22). Net Profit jumped 41 times YoY from Rs. 0.31 crore to Rs. 13.15 crore. 

The company had recommended bonus equity shares in the proportion of 1 (One) Equity Share of Rs. 1 each for every 1 Equity Share of Rs.1 each held by shareholders of the Company as on the record date.

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