Sarveshwar Foods Limited (BSE: 543688, NSE: SARVESHWAR), engaged in the business of manufacturing, trading, processing, and marketing of branded and un branded basmati and non‐basmati rice and other products in the domestic and international markets has reported earnings for the quarter ended 30 June 2024.
For Q1FY25 (Consolidated), the company reported revenue from operations at Rs. 23305.44 Lakhs, a growth of 24% YoY. EBITDA came in at Rs. 1406.45 Lakhs, growing 11% YoY. PAT grew 6% YoY, from Rs. 290.06 Lakhs (Q1FY24) to Rs. 308.87 Lakhs (Q1FY25). EPS was reported at Rs. 0.13 per share.
Further, the board approved up to Rs. 250 Cr fund raise by issuance and allotment of equity
shares, by way of QIP’s, ADR, GDR, FCCB or any other method or combination thereof including the Right Issue(s)subject to all regulatory and members approval.
Earlier, the board announced that its board has approved the allotment of convertible warrants on preferential basis to various promoter and non-promoter/ public group entities, including FPI Nova Global Opportunities Fund PCC-Touchstone.
Recently, the company entered into partnership with Boomitra O2C Tech India to revolutionize sustainable agricultural practices. This landmark agreement also aims to boost productivity, improve soil health, and generate income through sale of carbon credits for Sarveshwar Foods Ltd and ~17,000+ farmers covering 45,000 acres associated with Sarveshwar Foods Ltd.
Sarveshwar Foods Limited (SFL) is an ISO 22000:2018 and USFDA (United States Food and Drug Administration) certified company. SFL also has BRC (biggest global standard for food safety), Kosher, NPPO USA & CHINA along with NOP-USDA Organic certifications for its products. The Company is mainly 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. Our operations are based out of the Jammu Region in the State of Jammu and Kashmir. SFL has sustainable and eco+ve legacy of serving healthy and tasty rice for more than 130 years and in last couple of decades proliferated its heritage to other premium categories of FMCG and Organic products. SFL belongs to the lands in foothills of Himalayas which is nourished by fertile mineral‐rich soil, organic manure and snow melted waters of river Chenab, wherein without using any artificial fertilizers and chemicals, they produce full range of ‘ORGANIC’ products, being sold with brand name ‘NIMBARK’‐ conceptualised to spread the philosophy of the ‘SATVIK’ conscious lifestyle. To sell its products, SFL has adopted 3‐way strategies, first through conventional channels, another to have its own retail outlets, and to tap young and techsavvy generations’ growing tendency of buying products online.