AAKASHAYA PATRA EXCLUSIVE STOCK FOR INVESTMENT: 22.08.2020

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FLEX FOODS LTD

CMP 65 ENTRY 58 TO 60 STOPLOSS  50 TARGET 120++ TIME: 12 MONTHS

 Incorporated in 1990, Noida based Flex Foods Limited cultivates and processes food products in India. It offers vacuum freeze dried, air-dried, frozen, and individually quick frozen product range of mushrooms, herbs, spices, fruits, and vegetables; and canned button

mushrooms in various shapes and sizes. The company also provides thyme, basil, parsley, dill, mint, sage, savory, pickle, chervil, marjoram, rosemary, chives, and oregano culinary herbs. It exports its products to the United States, Europe, Asia, and other countries. In its pursuit to supply high quality product to its customers, Flex Foods Limited sources its raw material through contract farming through a dedicated network of 500 farmers. This is done in about 2500 acres of land in and around Dehradun, providing the farmers with the high quality seeds, imparting best farm practices, following strict MRL and assured buying at the most competitive prices.

 

It has an equity base of just Rs.12.45 crore that is supported by reserves of around Rs.82.22 crore. The Promoters hold 59.68% while the investing public holds 40.32% stake in the company.For Q1FY21, PBT soared 26.62% to Rs.3.90 crore from Rs.3.08 crore. While it posted PAT of Rs.2.90 crore on sales of Rs.17.33 crore fetching an EPS of Rs.2.33.Company has recommended 7.5% dividend for FY20.

Currently, the stock trades at a P/E of 12x and is at 61% discount to its January 2018 high of Rs.169.15.


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