Hindustan Foods soars over 5% despite market slowdown
Stock rallies as the board may consider a stock split.
Hindustan Foods Ltd, one of the popular names in the Indian FMCG sector, has been trending on Dalal Street as the board said that they might consider a stock split soon. At 2:40 pm today, the stock is trading at Rs 1,882 up by 5.5% from its previous close of Rs 1,784.60. The scrip opened at Rs 1,825.05 and created a day’s high of Rs 1,934.
The markets have been under pressure with the higher-than-expected interest rate hikes. In such a bearish market, Hindustan Foods has been trading in the green territory. The board has not declared any details of the stock split as yet. It has also decided to consider and approve the quarter ended March results and FY22 results on 20th May. Last week, the company was trending as its wholly-owned subsidiary HFL Consumer Products made its first dispatch from its new manufacturing unit in Lucknow.
Talking about its recent quarterly results, in Q3FY22, revenue grew by 36.04%YoY to Rs 522 crore from Rs 383.7 crore in Q3FY21. On a sequential basis, the top-line was up by 12.09%. PBIDT (Ex OI) was reported at Rs 28.72 crore, up by 31.64% as compared to the year-ago period and the corresponding margin was reported at 5.5%, contracting by 19 basis points YoY. PAT was reported at Rs 11.89 crore, down by 5.37% from Rs 12.56 crore in the same quarter for the previous fiscal year. The PAT margin stood at 2.28% in Q3FY22 contracting from 3.27% in Q3FY21.
Hindustan Foods Ltd has diversified across various FMCG categories with manufacturing competencies in food and non-food, extending to cosmetics, personal care and home care products. The company is primarily engaged in the business of contract manufacturing of FMCG products comprising primarily of home care, personal care, foods and refreshments and job working of shoes. The stock has a 52-week high of Rs 2,479 and a 52-week low of Rs 1,700.
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