Mishtann Foods Q1FY25 Results: Revenue Jumps 30% YoY To Rs 382.67 Cr; PAT Stood At Rs. 71.30 Cr

The top agro-food product firm in India, Mishtann Foods Ltd., announced the audited financial results of the company for the first quarter that ended on June 30, 2024, during its board meeting on July 13, 2024. Following the announcement, Mishtann Foods' small-cap stock was trading at Rs 17.32 per share in Monday morning trades, with a market value of Rs 1,841.85 Cr.

The company said its revenue from operations stood at Rs. 382.67 Cr during the quarter ended June 30, 2024 compared to Rs 293.95 Cr in the year-ago quarter, representing a growth of 30% YoY. The company's EBITDA remained flat at Rs 72.69 Cr while net profit reached Rs 71.30 Cr in Q1FY25 up by 3% YoY from Rs 68.92 Cr in Q1FY24.

Commenting on the Q1FY25 Performance, the management said, "We are pleased to present our financial results for Q1FY25, reflecting a strong performance and strategic growth trajectory. Our revenue from operations grew by 30% year-over-year, reaching Rs. 382.67 crore. EBITDA for the quarter was reported at Rs. 72.69 crore, demonstrating our efficient operational management. Profit Before Tax (PBT) stood at Rs. 71.98 crore, and Profit After Tax (PAT) was Rs. 71.30 crore, marking a 3% year-over-year increase. This growth was primarily driven by robust demand and successful geographic expansion of our products including handsome contributions from wholly owned subsidiaries."

"These phenomenal results are a testament to our ability to consistently deliver value to our stakeholders and our commitment to driving sustainable growth. Moreover, we are striving to grow in the fields of grain-based ethanol and electric vehicle components which shows our continuous efforts at sustainability and our commitment towards the environment. This strategic move reflects our forward-looking approach, capitalizing on emerging opportunities in sustainable technologies and eco-friendly solutions. We are confident that these exceptional financial results and our expansion into sustainable sectors will further propel our company's growth and enhance our position as a leading player in the industry," the management added.

"Mishtann Foods Limited is strategically positioned to capitalize on the significant increase in India's Basmati rice exports. Recent industry data indicates a 13% rise in exports during the first two months of the current fiscal year, driven by robust demand from traditional West Asian markets such as Saudi Arabia and Iraq. The management is closely monitoring the global industry trends. We express our gratitude to our dedicated employees, loyal customers, and supportive stakeholders for their unwavering trust and contribution to our success. Looking ahead, we remain committed to delivering on our promises, driving innovation, and creating long-term value for our shareholders and the community we serve," the management of Mishtann Foods commented.

The top FMCG firm in India, Mishtann Foods Limited, specialises mostly in several kinds of Basmati rice. Along with all other varieties of grains and cereals, the firm additionally markets edible common salt, rock salt, and pink salt.