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Patanjali achieves financial goals
After delivering solid Q3 results Patanjali Foods Limited – PFL (formerly known as Ruchi Soya Industries Limited) has continued to work towards achieving business and financial goals
New Delhi: After delivering solid Q3 results Patanjali Foods Limited – PFL (formerly known as Ruchi Soya Industries Limited) has continued to work towards achieving business and financial goals. The company achieved Total Income of Rs 7,963.75 cr during the quarter ended December 31, 2022 as compared to Rs 6,301.19 cr in Q3FY22, registering a growth of 26.38% YoY. The PAT for the quarter registered a strong growth of 139.73% Q-o-Q and 14.96% Y-o-Y and stood at Rs. 269.18 cr. During the nine-months period ended 31st December 2022, the Company achieved Total Income of Rs 23,858.50 cr and PAT of Rs. 622.73 cr with a growth of 35.50% and 8.89% respectively over similar periods last year.
The company continues to leverage its strong distribution channel and product offerings across multiple price points to achieve volume growth. It achieved an all-time high monthly sale of 1.5 lakh MT of Edible Oils and Vanaspati in October month. Further, the company continues to invest in growing its multichannel distribution network along with the adoption of digitization to track secondary sales and enhance efficiency of the sales team. Patanjali Foods is one of the largest oil palm plantation companies in India.
The Company continues its thrust on expanding its oil palm business and is undertaking capacity expansion of oil palm processing capacities to 160 TPH. The company has recently entered into MoU with the Government of Tripura and Nagaland in addition to existing MOUs with the Government of Arunachal Pradesh, Assam and Mizoram.
There is an increased focus on premiumization and new product development to cater the market with a bigger and better variety of products. It is revamping its Nutraceutical Business with a more focussed approach that will enhance reach and give superior offerings to consumers.
Going forward, the Company maintains its aspirations of delivering sustainable and profitable growth with significant contribution from the foods vertical. While the near term shows positive growth aspects, the company remains optimistic in medium term given the recent softening of input prices and inflationary trends. The focus continues to be on delivering broad based profitable growth.
