Mishtann Foods shares jump after Q4 PAT soars 567%, operating revenue doubles

Revenue from operations rose 100% YoY to ₹338 crore during the quarter while earnings before interest, tax, depreciation, and amortisation (EBITDA) grew 315% to ₹97 crore.

For the fiscal year 2024 (FY24), revenue from operations grew 98% to ₹1,288 crore while EBITDA rose 335% to ₹359 crore. Net profit grew 593% to ₹346 crore during the year.

The firm stated that its revenue from operations grew primarily led by robust demand and successful geographic expansion of its products including handsome contributions from wholly owned subsidiaries.

Mishtann Foods incorporated two new wholly-owned subsidiaries named Grow and Grub Nutrients FZ-LLC in the United Arab Emirates (UAE) and Grow & More Nutrifoods in Singapore. The firm intends to tap newer markets and increase its profitability margins, it said.

The company announced plans to set up a 1,000 kilolitres per day (KLPD) grain-based ethanol manufacturing facility in Gujarat for which it executed a memorandum of understanding (MoU) with the state government. The firm indicated that the proposed project’s estimated annual revenue projection stands at ₹3,500 crore. Mishtann Foods said it is aiming to commence operations from the second quarter of 2026.

Mishtann Foods is a fast-moving consumer goods (FMCG) company with a primary focus on various types of basmati rice. The company also deals in edible common salt, rock salt, pink salt and all other kinds of grains and cereals. It also offers a wide range of agricultural products, including rice, wheat, spices, and pulses. The firm’s 100,000 metric tonne per annum rice processing facility is located near Ahmedabad in Gujarat.

Shares of the company have gained over 14% since the beginning of the year. The stock has gained over 161% in the last one year.