Mishtann Foods Q1FY23 Results: Check net profit, sales and other details
The company had recently issued bonus equity shares in the proportion of 1:1.
Mishtann Foods has announced its Q1FY23 Results. The net profit of Mishtann Foods rose 216.05% to Rs 11.03 crore in the quarter ended June 2022 as against Rs 3.49 crore during the previous quarter ended June 2021. As per results, sales rose 118.73% to Rs 158.27 crore in the quarter ended June 2022 as against Rs 72.36 crore during the previous quarter ended June 2021.
The company had recently issued bonus equity shares in the proportion of 1:1.
Earlier, the Company had executed Memorandum of Understanding (MoU) with the Government of Gujarat for setting up India's biggest Grain Based Ethanol project of 1000 KLPD in Gujarat.
The estimated project cost is to the tune of Rs 2250 crore, giving employment to 5000+ people directly or indirectly and is expected to generate annual revenue of approximate Rs.3500 crore.
Mishtan has initiated the required steps to move forward towards the project efficiently with a view to commence the grain-based Ethanol plant as desired from second quarter of the year 2024.
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