Mishtann Foods Ltd Felicitated as Economic Times Business Transformation Icon 2022

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1 year ago dsprime

Mr. Hiteshkumar Patel, CMD, Mishtann Foods Ltd felicitated as ET Business Transformation Icon 2022

Mumbai (Maharashtra) [India], August 03: BSE-listed Mishtann Foods Ltd. has bagged ‘The Economic Times Business Transformation Icons 2022.’

Mr. Hiteshkumar Patel, CMD, Mishtann Foods Ltd., was felicitated at a star-studded event in Mumbai recently.

Mishtann Foods Ltd. (BSE: 539594) engaged in manufacturing and marketing of a large variety of rice with a focus on Basmati Rice and pulses like dal and salt.

Earlier, sometime back, it announced results for Q1FY23. 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 quarter ended June 2021. 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 has seen a good response for Mishtann Salt, which had bagged several orders from major retail stores, has successfully executed these orders and is receiving a good response for its salt, which has several health benefits. The Company has journeyed into unchartered spheres and territories, elevating enroute the industry standards due to stringent quality control practices, and is on a growth path with several new plans.

Mishtann Foods Ltd. had bagged several orders for its Mishtann brand salt from major retail stores.

The Company has journeyed into unchartered spheres and territories, elevating the industry standards due to stringent quality control practices. The Company is on a growth path with several new plans.

The Company had recently issued bonus equity shares in the proportion of 1:1.

Earlier, the Company had executed a 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. Mishtann has initiated the required steps to move forward with the project efficiently with a view to commencing the grain-based Ethanol plant as desired from the second quarter of the year 2024.

Every grain of Mishtann Basmati is a testimony of commitment to quality, taste and health.

The mission is to fuse taste, health and happiness, making Mishtann the most reliable Indian brand in agro products worldwide. The Company has a huge export market also. With the government’s thrust on the agro sector, Mishtann is riding high on this sunrise sector.

Rice being the staple diet of millions of Indians, Mishtann has taken up the task of ensuring that the highest quality is maintained and assured. Mishtann Basmati Rice has today become a source of holistic health and immense happiness for connoisseurs of food across the globe.

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