Penny stock below Rs 20: Board meeting on August 14 to approve Q1 results, update on Rs 17.2 crore OTS payment & US tariff impact

On Monday, shares of Himalaya Food International Ltd plunged 0.61 per cent to Rs 12.93 per share from its previous closing of Rs 13.01 per share. The stock’s 52-week high is Rs 22.97 per share and its 52-week low is Rs 9.29 per share.

Himalaya Food International Ltd. is set to hold a Board of Directors meeting on Thursday, August 14th, 2025, via video-conferencing, to address several key agenda items. A primary focus will be the consideration and approval of the unaudited financial results for the quarter ended June 30th, 2025. The Board will also receive an update on the status and utilisation of funds from the recent Rights Issue, specifically noting the payment of Rs 17.2 crore towards a One-Time Settlement (OTS), completing 50 per cent of the Rs s43 crore final amount. Furthermore, the meeting will discuss the impact of newly imposed US tariffs on exports and strategise mitigation efforts, including product mix realignment, pricing adjustments, and market diversification beyond the US. The company also plans to constitute a new domestic marketing team to target the Retail, QSR, and Institutional segments.

In addition to financial and strategic discussions, the Board will review the progress of the new French Fries production line installation and commissioning. A significant legal matter will also be addressed: the consideration of initiating arbitration proceedings to quantify and recover replacement costs and consequential damages due to the non-return of critical machinery by Simplot USA, as per an earlier SIAC award. Finally, the Board will fix the time, date, and venue for the 34th Annual General Meeting (AGM) for the fiscal year ended March 31st, 2025, along with approving the AGM notice, Director's Report, Corporate Governance Report, Management Discussion and Analysis Report, and other annexures to the Annual Report. The book closure and cut-off dates for remote e-voting in connection with the 34th AGM will also be determined.

About the Company

Himalaya Food International Ltd, founded in 1992 and operating from two ISO 22000-certified facilities in India, is a frozen and canned food processor specialising in mushrooms and IQF ready-to-eat products. Under the "Himalaya Fresh" brand, they cultivate mushrooms and manufacture a variety of natural, vegetarian items, including cheese, sweets, and appetisers, which are exported to the USA and sold domestically, utilising quick chilling and freezing to preserve quality.

The company has a market cap of over Rs 100 crore with a PE of 35x whereas the industry PE is 21x. The stock is up by 39.2 per cent from its 52-week low of Rs 9.29 per share.

Disclaimer: The article is for informational purposes only and not investment advice.