Ruchi Soya has announced its maiden dividend at the rate of 250 per cent. This means each of the shareholders will get ₹5 for every share he/she holds with a face value of ₹2.
The company has reported a net profit of ₹806 crore in FY22 against ₹680.77 crore in FY21, showing a growth of 18.4 per cent. Its revenue grew 48.22 per cent to ₹24,284.38 crore ( ₹16,382.97 crore).
In segmental revenue performance, although the company generated major revenues from oil business, its newly started business-like biscuits, breakfast cereals and nutraceuticals have also shown quantum jump of 209 per cent as the revenues improved to ₹1,979.48 crore (₹ 640.51 crore). The strong growth in revenues of new businesses shows the market acceptance of its new products and also indicates the company’s firm and steady march towards becoming one of the top FMCG & FMHG player.
Its EBIDTA surged to ₹1,565.98 crore in FY22 against ₹1,018.36 crore in the previous year ended March 2021. Operating margins remained higher at 6.45 per cent compared with 6.22 per cent year-on-year basis. Net profit during FY2022 also showed significant growth of 18.64 per cent against the previous year’s net profit.
The company, in its board meeting held on May 18,2022, approved the acquisition of entire food business of Patanjali Ayurved Ltd (PAL) in order to accelerate its transition to a leading FMCG company and in consonance with its Prospectus for FPO filed with SEBI and further communication to stock exchanges on April 11, 2022. This strategic initiative has been aimed to strengthen its food product portfolio with an array of brands and also contribute to the overall growth in terms of revenue and EBIDTA.
The acquired food business comprises 21 major products namely ghee, honey, spices, juices, atta, etc. The acquisition is valued at a Fair Market value (Net) of ₹690 crore based on slump sale basis. The Board of Directors of Patanjali Ayurved Ltd has already approved this transfer of food business to Ruchi Soya Industries Ltd. With this acquisition, the company believes that it has reaffirmed its position to be a strong FMCG player.
It may be recalled that Ruchi Soya was acquired by Patanjali Group through IBC (Insolvency and Bankruptcy) route in December2019.