Introduction
nse: patanjali – According to www.groww.in, the Patanjali foods limited formerly known as Ruchi Soya Industries limited is an India based company which is engaged in the edible oil business. Moreover, the company is in manufacturing and marketing of a healthy range of edible oils and soya foods in India. However, the company owns around 22 manufacturing units that cumulatively translate to a refining capacity of over 11000 tons per day. Also, Seeds crushing capacity of 11000 tons per day, and a packaging capacity of 10000 tons per day.
Furthermore, the company brands also include Nutrela, Mahakosh, sunrich, ruchi gold and ruchi no. 1. Moreover, the Nutrela soya foods company products include soya chunks, nutrela soya granules and nutrela soya mini chunks. So, it also offers nutrela high protein chakki atta and nutrela honey. Also, its biscuits division offers Patanjali aarogya multi grain biscuits, Patanjali digestive whole wheat cookies, Patanjali butter cookies, Patanjali creamfest chocolate biscuit, Patanjali creamfest Elaichi biscuit and Patanjali doodh biscuits.
nse: patanjali Foods to Launch FPO in April 2023
As per the study by www.5paisa.com, In a market that is almost starved off mainboard IPOs and FPOs, the latest announcement from Patanjali Foods comes as a whiff of fresh air. Hence, Patanjali Foods was formerly known as Ruchi Soya with its focus on soya, oil, and other food products. However, the originally company went bankrupt and was acquired by the Patanjali group. So, which is own by the high profile Yoga master, Baba Ramdev. Moreover, Just last year the Patanjali group had done a public issue of Patanjali Foods to be able to meet the SEBI criteria of minimum public holding requirement. Hence, Patanjali Foods plans to launch another follow-on public offer (FPO). To start the process of reducing the stake of promoters in the company to below 25%.
Furthermore, As per the latest plans, in the current round, the nse: patanjali group will be diluting around 6% stake in Patanjali Foods. In fact, the Patanjali group had acquired Ruchi Soya under the National Company Law Tribunal (NCLT) insolvency proceedings. And had later changed the name of the company from Ruchi Soya to Patanjali Foods. To give the new image of a changed management and the wider business model of the company. However, Patanjali Foods is non-committal about the timing of the FPO and have only assured the market. That the process for FPO would commence in the new financial year i.e., from April 2023 onwards.
Therefore, the public shareholding of nse: patanjali Foods (formerly Ruchi Soya) be raise to 25%. Within a period of 3 years from the date of resolution. However, now 3 years have already elapsed in September 2022. But the public shareholding in Patanjali Foods is still about 5.82% short of the minimum public shareholding threshold. So, the company has brought down the promoter shareholding from 98.87% to 79.18%. Hence, The FPO is expect to increase the public shareholding to 25%. Although the specific dates are yet to be announce.
Patanjali Foods Result Highlights
- Q3FY23 Quarterly Result Announced for Patanjali Foods Limited.
- Q3FY23: 9MFY23 Total Income of Rs 23,858.50 crore up by 35.50% over 9MFY22. In Q3FY23, Company achieves Total Income of Rs 7,963.75 crore. 9MFY23 EBIDTA stood at Rs 1,161.10 crore vs. Rs 1,147.43 crore in 9MFY22 In Q3FY23. EBITDA of the Company grew by 97.49% QoQ and stood at Rs 405.15 crore. Strong PAT growth of Rs 622.73 crore in 9MFY23 vs. Rs 571.88 crore in 9MFY22 up by 8.89% In Q3FY23. Company witnessed a PAT growth of 139.73% QoQ and stood at Rs 269.18 crore.
- 9MFY23 Total Income of Rs 23,858.50 crore up by 35.50% over 9MFY22.
- In Q3FY23, Company achieves Total Income of Rs 7,963.75 crore.
nse: patanjali Foods Summary
- As per the study by livemint.com, nse: Patanjali Foods is trading 0.21% lower at Rs 954.00 as compared to its last closing price. Patanjali Foods has been trading in the price range of 962.95 & 945.1. Patanjali Foods has given -19.92% in this year & -0.11% in the last 5 days.
- nse: patanjali Foods has TTM P/E ratio 47.32 as compared to the sector P/E of 23.28.
- The company posted a net profit of 269.19 Crores in its last quarter.
- Listed peers of Patanjali Foods include Tataconsumer (-0.75%), Adani Wilmar (1.21%), Patanjali Foods (-0.21%) etc.
- nse: patanjali Foods has a 80.82% promoter holding & 19.18% public holding. The Mutual Fund holding in Patanjali Foods was at 1.12% in 31 Mar 23. The MF holding has increased from the last quarter.
Nse: Patanjali Ruchi Soya Stock Bounces 10% After Its Board Approves ₹ 690 Crore Deal
According to www.ndtv.com, nse: patanjali – Ruchi Soya Industries Ltd shares bounced 10 per cent on Wednesday after its board approved the acquisition of Patanjali Ayurved’s food retail business. Moreover, The Board of Directors of Ruchi Soya decided to change the company’s name to ‘Patanjali Foods Limited’ and approved a proposal. Hence, to acquire Patanjali Ayurved Limited’s food retail business for Rs 690 crore.
Indeed, On the BSE, the stock jumped 9.59 per cent to close at ₹ 1,186.85. After rallying 10 per cent to ₹ 1,191.30 during the session. So, on the NSE, it jumped 9.99 per cent to finish at ₹ 1,192.15.
Furthermore, Ruchi Soya is a parts of yoga guru Baba Ramdev-led Patanjali Groups. Patanjali learnt Ruchi Soya Industries Limited through an insolvency process in 2019. Hence, The Ministry of Corporate Affairs has confirmed the name of nse: Patanjali Foods Limited. So, the company won’t discovery any major hurdle in the name change process.
Patanjali Foods Falls after BSE, NSE Freeze Promoters’ Shares
According to www.moneylife.in, Shares of Patanjali Foods Ltd (erstwhile Ruchi Soya Industries Ltd) hit a lower circuit during morning trading after BSE and National Stock Exchange (NSE) decided to freeze the promoter and promoter group’s. However, shareholding are not complying with the norms for keeping public shareholding at 25%. Later, the scrip recovered. Hence, nse: Patanjali Foods ended Thursday 2.38% down at Rs938.05. On BSE, while the 30-share Sensex closed flat at 57,634.84 points.
Furthermore, to comply with Rule 19A(5) of the Securities Contracts (Regulation) Rules, in March last year. Hence, the company launched its follow-on public offering (FPO) and issued 66.15mn (million) shares of Rs2 each. At a premium of Rs648 per share aggregating Rs4,300 crore. So, due to this, it says, public shareholding in nse: patanjali Foods increased to 19.18%. Indeed, as per SEBI rules, Patanjali Foods needs to increase MPS to 25% from 19.18%. Which promoter and promoter group stake would remain frozen.
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