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Mrs. Bectors hits record high as co sets floor price for Rs 400-crore QIP: mrs bectors food specialities share price
Source: Business Standard
Shares of Mrs. Bectors Food Specialities, a fast moving consumer goods company that majorly manufactures biscuits, advanced 12.8 per cent and registered an all time high of Rs 1,820 in a weak market, where BSE Sensex had slipped over 900 points.
As of 2:40 PM, shares of Mrs. Bectors were up 10.68 per cent at Rs 1,785 per share, in the afternoon deals.
“We further wish to inform you that the board has fixed the ‘Relevant Date’ for the purpose of the Issue…as September 5, 2024 and accordingly the floor price is Rs 1,577.85 per share approved by the board,” the company’s filing read.
At its meeting held on June 21, 2024, the company’s board had approved a proposal to raise funds of up to Rs 400 cror
What does Mrs. Bectors do?
Mrs. Bectors Food Specialities is one of the leading companies in the premium and mid-premium biscuits segment in North India under the brand ‘Cremica’, and a leading premium bakery player under the brand ‘English Oven’.
It is the preferred supplier to some of the largest quick service restaurant (QSR) franchises, cloud kitchens and multiplexes in India.
Mrs. Bectors’ financials
In the quarter ended June 30, 2024, the company recorded a net profit of Rs 35.43 crore, compared to Rs 34.85 crore a year ago, up 1.6 per cent. Its revenue from operations stood at Rs 439.4 crore for the June quarter, compared to Rs 374.2 crore in the year-ago period.
Mrs. Bectors logged total income for the quarter ended June at Rs 444.42 crore, compared to Rs 378.7 crore in the year-ago period.
In the past one year, Mrs. Bectors’ shares have given a return of 58 per cent, compared to the BSE Sensex’s rise of 25 per cent during the same period.
First Published: Sep 06 2024 | 2:48 PM IST
