Small-cap FMCG stock below ₹20 climbs to 52-week high after Q1FY24 results. Share rises 25% in three days

livemint.com:

Small-cap stock below ₹20: Shares of Mishtann Foods have been in uptrend after announcement of Q results 2023. The FMCG company declared its first quarter results for the financial year 2023-24 on Tuesday when the market was about to close. However, in last three days, Mishtann Foods share price has ascended from ₹11.31 per share levels to ₹14.79 apiece levels, logging more than 25 per cent rise in this time.

while climbing over 25 per cent, this small-cap stock climbed to a new 52-week peak of ₹14.79 levels during Thursday deals. In Q1FY24, Mishtann Foods Ltd reported total revenue at ₹293.95 crore, which stood at ₹158.27 crore in the corresponding period in previous financial year. This means, the FMCG company clocked over 85 per cent YoY rise in total revenue.

Small-cap company's EBIDTA surged from ₹18.24 crore to ₹72.75 crore during this period, delivering near 300 per cent rise in year-on-year terms. In Q1Fy24, Mishtann Foods Ltd reported PAT of ₹68.91 crore, which is near 525 per cent higher from its PAT of ₹11.02 crore in first quarter of the previous financial year. While presenting the Q1 results for FY2023-24, Mishtann Foods management said, "Our Revenue from Operations witnessed an impressive increase of 85.73 per cent, reaching ₹293.94 crore compared to ₹158.26 crore in Q1 FY23.