1,125% Gain In 3 Yrs; FMCG Stock Wins Rs 127 Million Order By KRIBCHO

On Monday, Sarveshwar Foods Ltd. (SFL), an ISO 22000:2018 and USFDA (United States Food and Drug Administration) certified business, announced that it had received an order for the supply of Non-Basmati White Rice worth Rs. 127 million from KRIBHCO, a national level Multi State Cooperative Society, in accordance with the purchase order issued by KRIBCHO Agri Business Limited (a wholly owned subsidiary of KRIBCHO). The order has been secured for supplying basmati, non-basmati rice, other agricultural products, food items etc. for Jammu Region.

"Sarveshwar Foods Limited has been tirelessly working on strengthening its supply chain and lined up the requisite sourcing and servicing these orders. It has been growing and solidifying its position in India with the help of expanding its reach to the consumers across the nation.

As an enduring sustainable business strategy, the Sarveshwar is aiming to synergetic amalgamate business potential embedded in the ever-growing demand of agricultural products with modern business approach of sourcing, producing and marketing of wide range of products. In order to augment its product basket, the company has plans to add more prestigious customers in coming quarters," said the company in a stock exchange filing.

Mr. Rohit Gupta, Chairman of the Company said "being listed among KRIBHO's Strategic Suppliers is an honour for the entire Sarveshwar Team and speaks well of our efforts, product quality, and on-time delivery." He further added "I would like to make it ample clear as a part of management we want to significantly expand Company's business, its market reach, and obviously its profitability. To that end, we are making every effort to strategically align all the components of the supply chain, customer recognition, as a constant process."

On Tuesday, the shares of Sarveshwar Foods were trading 1.80% lower at Rs 4.90 during the morning deals. The stock has produced a multi-bagger return of 400% over the past five years, and it has gone up by 1,125% during the past three years. The stock has produced a multibagger return of 165% during the past year, but on a year-to-date basis it has fallen 44.63% so far in 2023.