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Oceanic Foods Ltd. Migrated to BSE Main Board on 28 November, 2019

Posted On: 2019-11-30 16:39:53

The equity shares of Oceanic Foods Ltd. are now migrated to BSE main board platform effective from November 28, 2019 in the list of 'B' Group which were already listed under BSE SME Platform in March 2017.

In June, 2019, Bonus Issue was made of 2 (Two) Bonus Equity Share of Rs. 10/- each fully paid up for every 1 (One) existing equity share of Rs. 10/- each fully paid-up held. With this the equity share capital of the company increasing to Rs.11.25 crore shares (consisting of 1.125 crore equity shares of Rs.10 each).

Consistent history of paying Dividend since last 14 years and since listing as well; dividend paid at 1.00% in FY 18-19 (Post Bonus), and at 2.5% in FY 17-18 and 16-17.

Commenting on this major development the MD & CEO, Mr. Tulan Patel said "With pride, we wish to announce that our company has migrated to the BSE main board in a short period since listing. We have a long history of success, a pioneer in Dehydrated Vegetables and herbs in India since 1972. Over the years we have continuously upgraded our plants, which are now accredited with global certifications. We have received several awards at state and national level, starting from the 'Excellence in Export Award in 1981 by then President of India'.

Our plants are among the most modern plants in the Industry, which enables us to cater many MNC's in the food segment for their procurement in the domestic and international market. We currently have a processing capacity of 20 MT Dehydrated Vegetables per day. Going forward, we have plans in place to take this to the next level. There is a big emerging demand both in the domestic and global markets for Dehydrated foods. To capture this, we plan to expand capacity, add new products and verticals to grow our revenues. We will do this while keeping focus on improving our profit margins without compromising on our Balance-sheet quality.

Shares of Oceanic Foods Ltd was last trading in BSE at Rs.61 as compared to the previous close of Rs. 57.7. The total number of shares traded during the day was 2216 in over 17 trades.

The stock hit an intraday high of Rs. 69 and intraday low of 59.8. The net turnover during the day was Rs. 134109.

Source: Equity Bulls

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