Buy Mrs. Bectors Food Specialities, target price Rs 485: Axis Securities

Axis Securities has buy call on Mrs. Bectors Food Specialities with a target price of Rs 485. The current market price of Mrs. Bectors Food Specialities is Rs 410.65.

Mrs. Bectors Food Specialities Ltd., incorporated in the year 1995, is a Small Cap company (having a market cap of Rs 2439.66 Crore) operating in FMCG sector.

Mrs. Bectors Food Specialities Ltd. key Products/Revenue Segments include Food Products, Job Work, Other Operating Revenue, Export Incentives and Scrap for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 302.64 Crore, up 19.25 % from last quarter Total Income of Rs 253.79 Crore and up 32.79 % from last year same quarter Total Income of Rs 227.91 Crore. Company reported net profit after tax of Rs 12.91 Crore in latest quarter.

Investment Rationale
Multi-months resistance breakout at 400 with volumes and sustaining above 20,50, 100 and 200 SMAs

Promoter/FII Holdings
Promoters held 51.14 per cent stake in the company as of 30-Sep-2022, while FIIs owned 1.3 per cent, DIIs 15.25 per cent.