As per BSE bulk data report on 10th June, Our Master’s Portfolio member Porinju Veliyath has bought an agri based small cap named Flex Foods. Data shows that he scooped out 72000 shares of Flex Foods at a rate of Rs. 82.68. The stock hits upper circuit of 20% in the browser on June 10th.
FLEX FOODS LIMITED, a company engaged in the growing and processing of Mushrooms, Fruits, Culinary Herbs and Vegetables catering to the Domestic and International markets mainly in USA, Canada, Europe & Australia. Flex Food Limited is an associate company of UFLEX, a 2.3 Billion dollar company, leader in flexible packaging technology.
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 and imparting best farm practices along with most competitive prices.
Promoters hold nearly 60% of stake. Company has clocked an cash EPS of 9.96 for the last year and it has been a consistent dividend payer of nearly 2.5%. In our view, Porinju Veliyath has done an “not so risky pick” with excellent fundamentals and great opportunities for future growth.
Check Porinju Veliyath’s current holdings here