Mrs Bectors Food gains as new production line commences

Mrs. Bectors Food Specialities rose 1.12% to Rs 303.75 after the company said that a new production line of biscuits at Rajpura has started its commercial production with an installed capacity of 12,000 tons per annum.

The new line had commenced its commercial production w.e.f. 15 July 2022.

The company said that the installation of the new production line of biscuits at Rajpura is part of the overall Rajura Expansion Project, which also includes building and civil works for the manufacturing facilities.

"The building and civil works of the Rajpura Expansion Project was delayed due to some unavoidable factors including COVID-19 pandemic, supply chain disruptions and other commercial considerations and is now scheduled to be completed by September 30, 2022, Mrs. Bectors Food said in a statement.

Mrs. Bectors Food Specialities manufactures biscuits and bakery products that are marketed under Mrs. Bector's Cremica and Mrs. Bector's English Oven brands, respectively. The company operates in the consumer segment through its network of distributors and retailers, besides supplying to export markets and catering to institutional customers.

The company reported 20.13% drop in consolidated net profit to Rs 10.20 crore despite a 12.65% rise in sales to Rs 252.31 crore in Q4 FY22 over Q4 FY21.

In the past one year, the stock has declined by 30.01% while the benchmark Sensex has gained 1.97% during the same period.

The stock is currently trading 34.68% below its 52-week high of Rs 464.15 hit on 23 July 2021. It has risen 23.70% from its 52-week low of Rs 245 hit on 20 June 2022.

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