Sunday, 29 May 2022 | PNS | Haridwar
Ruchi Soya Industries Limited announced its first dividend after posting a strong and sustainable performance in its maiden post listing fiscal 2022. Under the new management led by Yoga Guru Baba Ramdev, the announcement of bumper dividend at Rs five per share (on face value of Rs two) is considered to be the highest among its peers.
The FMCG and FMHG player demonstrated considerable revenue growth of 48.22 per cent in FY 2022, which jumped to Rs 24284.38 crore as compared to Rs 16382.97 crore in 2021. 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 Rs 1979.48 crore as against Rs 640.51 crore in previous FY 2021. The company official state that the 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 and FMHG players.
The company, in its board meeting held on May 18, has already announced the acquisition of entire food business of Patanjali Ayurved Limited (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 this year. This strategic initiative for acquisition of food business has been aimed at strengthening its food product portfolio with an array of brands and also contribute to the overall growth in terms of revenue and EBIDTA.
It will be recalled that Ruchi Soya was acquired by Patanjali Group through IBC (Insolvency and Bankruptcy) route in December 2019. The strategic efforts taken by the company have yielded good results so far.
