Corporate Feature     

Published: May 15, 2024
Updated: May 15, 2024

Sarveshwar Foods Ltd.

Robust Earnings show for FY24: PAT Jumps 115% YoY

Sarveshwar Foods Ltd. (BSE: 543688, NSE: SARVESHWAR), 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 has announced its audited financial results for the quarter and full year ended March 31st, 2024 in the board meeting held on 16th May, 2024.

For the quarter ended March 31st, 2024, Revenue from operations stood at Rs. 247.32 crore (Q4 FY24), as against Rs. 129.81 Cr (Q4 FY23), growth of 91% YoY. This impressive growth is primarily attributed to the supply of a higher quantity of rice and an expanded customer base through the Bharat Rice Scheme of the GOI. EBITDA for the quarter is Rs. 14.20 crore, growth of 26% YoY. Q4 FY24 profit stands at Rs. 4.14 crore, growth of 129% YoY.

For the full year ended March 31st, 2024, Revenue from Operations stood at Rs. 869.59 crore in FY24, as against Rs. 689.32 crore in FY23 a growth of 26% YoY. This growth was driven by an increase in the supply of products to B2B customers. EBITDA for FY24 is Rs. 55.79 crore, a growth of 72% YoY, mainly on account of higher sales and expansion in new geographies and commodities. FY24 profit stands at Rs. 16.78 Cr, a growth of 115% YoY

Commenting on the result, Mr. Rohit Gupta, Chairman, Sarveshwar Foods Ltd. said, “The financial results for the fiscal year 2024 underscore a remarkable period of growth and strategic expansion for our company.

During the quarter, we secured a lucrative export order worth approximately 6 million USD (~Rs. 50 crores) from NAFED. This highlights our success in expanding our global footprint and enhancing revenue streams, reaffirming our reputation as a reliable partner in international trade. We’re excited to announce the opening of our signature NIMBARK Organic Stores in Punjab and the Delhi NCR region. These stores cater to the evolving consumer preferences, particularly the growing demand for organic food products.

am happy to share that we have associated with the Government of India’s Bharat Rice Initiative, which aims to provide quality rice at affordable prices. This initiative is designed to offer relief to Indian households and ensure food security for the most vulnerable sections of society. It also aligns with our ESG strategies, reinforcing our commitment to social responsibility and contributing positively to the community. Looking ahead, we remain focused on sustainable growth, maximizing shareholder value, and adapting to changing market dynamics.”

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 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 produces full range of ‘ORGANIC’ products, being sold with brand name ‘NIMBARK’- conceptualised to spread the philosophy of the ‘SATVIK’ conscious lifestyle.

July 15, 2024 - First Issue

Industry Review

VOL XV - 23
July 01-15, 2024

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