How Mishtann Foods Ltd (MFL) Stock Price Skyrocketed by 50% in a Month: The Key Factors and Strategies

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Mishtann Foods Ltd: A Rising Star in the FMCG Sector

Mishtann Foods Ltd (MFL), a leading player in the agro food segment, has witnessed a remarkable surge in its stock price in the past month. The share price of MFL has soared over 50% from Rs. 7.1 on 23 May 2023 to Rs. 11.1 on 16 June 2023, reflecting the strong growth momentum and investor confidence in the company.

MFL has reported impressive financial results for FY23, with a net profit of Rs. 50 crore, up by 61% from Rs. 31 crore in FY22. The sales also increased by 30% to Rs. 650 crore in FY23 from Rs. 499 crore in FY22. The company has a diversified product portfolio, with a special focus on Basmati rice types, wheat, pulses and spices. It has a state-of-the-art rice processing facility near Ahmedabad with a capacity of 100,000 metric tonne per annum.
MFL has also attracted the attention of foreign institutional investors (FIIs), who have increased their stake in the company. According to an exchange filing, Nomura Singapore Limited ODI has increased its stake to 1.28 per cent or 1,28,25,854 shares in MFL. Nomura Singapore is a part of the global financial services group Nomura Holdings Inc., which provides investment banking, asset management and other services.

MFL’s promoter and director Hitesh Kumar Patel has also increased his stake in the company through an open market purchase in the third quarter of FY23. Patel has been instrumental in driving the growth and expansion of MFL in the domestic and international markets.

MFL has recently launched Mistann Salt on a pan-India basis, which has several health benefits and has received a positive response from the customers. The company has also bagged orders from major retail stores for its salt products. MFL has also set up a new subsidiary in the UAE to focus on international trade and tap into new markets.

MFL has been recognized as one of ‘The Economic Times Business Transformation Icons 2022’ for its innovation and excellence in the FMCG sector. Patel was felicitated at a star-studded event in Mumbai recently for his visionary leadership and contribution to the industry.

MFL is well poised to achieve its growth targets and create long-term value for its stakeholders with its customer-centric approach, quality products and services, robust execution capabilities and financial strength.

Conclusion

Mishtann Foods Ltd (MFL) is a rising star in the FMCG sector, with a strong growth momentum, diversified product portfolio, loyal customer base and attractive valuation. The company has also attracted the interest of foreign institutional investors, who have increased their stake in the company. MFL has also launched new products and entered new markets to expand its reach and revenue. MFL is a stock to watch out for in the coming months.

Disclaimer

This blog post is for informational purposes only and does not constitute any investment advice or recommendation. The author is not affiliated with Mishtann Foods Ltd (MFL) or any of its subsidiaries or associates. The author does not own any shares of MFL or have any vested interest in the company. The author does not guarantee the accuracy, completeness or timeliness of the information provided in this blog post. The reader should do their own research and analysis before making any investment decision based on this blog post. The reader should also consult their financial advisor before investing in any stocks or securities mentioned in this blog post. The reader assumes all risks and liabilities arising from their use of this blog post.


Keywords: Mishtann Foods Ltd (MFL), stock price, FMCG sector, Basmati rice, Nomura Singapore

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