Wednesday, 31 May 2023 | PNS | DEHRADUN
Patanjali Foods Limited (PFL) has declared its annual results for FY 2023. The board of directors has recommended a dividend of Rs six per share for FY 2023.
PFL maintained robust business and financial performance in FY 2023. The total income in FY 2023 stood at Rs 31,821.45 crore against Rs 24,284.38 crore in FY 2021-22. The PBT margin grew by 9.7 per cent in FY 2023 to Rs 1,178.96 crore against Rs 1,074.38 crore in FY 2022. The share of FMCG business in overall revenues grew to Rs 6,218.08 crore against Rs 1,683.24 crore in FY 22 and reached 19.72 per cent of the overall revenue against 6.95 per cent in the previous year. The company’s focus on premiumisation, offering range and expanding distribution across multiple channels is reflected in revenues and profitability of foods business. The food business EBITDA stood at Rs 1,136.60 crore in FY 2023 against Rs 189.04 crore in FY 2022. The FMCG business contributed 72 per cent of the overall EBITDA of the company in line with the objective of improving the quality and sustainability of profits.
The company achieved quantum growth in edible oil business growing by 21 per cent to 1.91 million metric tonnes in volume terms and achieved revenue of Rs 25,634.45 crore against 1.63 million tonnes and Rs 22,882.76 crore revenue in FY 2022. The growth in volume was achieved at the back of expanded distribution reach and superior offering to consumers. The EBITDA margin on oil business in FY23 stood at Rs 230.26 crore despite the challenges around international market volatility.
The company’s focus is to expand geographically in the international market by increasing its presence in the major markets. The company achieved export turnover of Rs 530.80 crore by exporting its products to 33 countries during the year.The company’s plans for its oil palm plantation are fully on track as the area under cultivation has increased to 63,816 hectares with overall land allocation of 6,28,000 hectares during FY 2023. The company has signed MoUs with the governments of Assam, Arunachal Pradesh, Mizoram, Nagaland and Tripura in North-East and Telangana and Andhra Pradesh.
