Mrs Bectors Food shares hit 52-week high on robust Q4FY23 results; check details

Mrs Bectors Food Specialities shares touched a new-52 week high and surged over 10% on Friday's trading session following robust Q4FY23 earnings reported by the premium biscuit maker's on Thursday. Mrs Bectors Food share price touched intraday high of ₹733.90 and low of ₹662 on BSE.

For the quarter ended March, the company reported a net profit of ₹27.6 crore, an increase of 170% from the ₹10.2 crore earned during the same time last year. The premium biscuit manufacturer reported a 37% increase in revenue from operations for the January-March quarter, from 252.3 crore to 346 crore in the year-ago period.

For the fiscal year 2022–2023, the company's board recommended a final dividend of ₹1.75 per equity share with a face value of ₹10 each (i.e., 17.5%), subject to shareholder approval.

Additionally, the board gave its approval to an investment of up to ₹1 crore in the equity share capital of Mrs Bectors English Oven Ltd, a fully owned subsidiary of Mrs Bectors Food Specialities Ltd.

"Our robust performance, delivered by product portfolio optimisation and premiumisation efforts coupled with strengthening brand equity, increase in distribution touchpoints, enhanced direct reach and responsible pricing actions aided in offsetting the ongoing pressure from consistent inflation during the year,'' said Anoop Bector, Managing Director.

On the technical front, the stock price rose 152.9% and outperformed its sector by 137.6% in the past year.

“This is a strong outperforming stock is continuously moving in a higher top higher bottom formation, today prices have seen further traction as up move than 11% , volumes as well has surged. Maintain positive bias with next potential target of 780 , 690 to be seen as immediate support,” said Rajesh Bhosale - Equity Technical and Derivative Analyst, Angel One.