Patanjali Foods Nurturing Growth
Patanjali Foods (formerly Ruchi Soya Industries) that pioneered soya foods has today expanded its product portfolio significantly
For Patanjali Foods (PFL), edible oils and soya foods remain an integral part of its business today even as the company has diversified its offerings into a diverse range of consumer-packaged goods including biscuits, cookies, noodles, cow ghee, honey, and other items, along with a range of nutraceutical products catering to a wide spectrum of consumer needs. This approach, the company said, helped PFL broaden its offerings to reach several high-growth segments.
Recently, PFL also announced a significant capital expenditure of Rs 421 crore to fortify its growth. Over the next five years, PFL will deploy this strategic investment to enhance the oil palm plantation business.
The revenue numbers for PFL surged to an impressive Rs 31,821 crore in FY23 clocking a remarkable 25 per cent compound annual growth rate (CAGR) from FY19 to FY23. “We take pride in announcing a net profit of Rs 886.44 crore and an impressive CAGR of 84.37 per cent from FY19 to FY23,” Ram Bharat, Managing Director, PFL told the shareholders.
The company’s substantial presence in the edible oils segment, cultivated over three decades, has enabled it to develop an extensive company-owned infrastructure, solidifying its position as a key player in the industry. In FY23, of the total revenue of Rs 31,821 crore, the edible oils business alone generated revenues to the tune of Rs 24,473 crore led by palm oil and soya oil. Both these had over 85 per cent contribution in the
revenues generated by the edible oils business. The balance revenue largely came in from the FMCG business of PFL, mainly led by food, breakfast cereals, soy protein, among others.
In FY23, PFL’s FMCG segment achieved significant growth, attributed to its strong distribution network and brand reputation. The company strategically tapped into the rising consumer demand for health and wellness.
Wind Turbine Power
With a strong focus on sustainability, PFL has also ventured into the wind and solar energy segment to reduce its carbon footprint. It is harnessing renewable energy from its projects for captive use as well as selling the surplus energy, thereby contributing to a greener future.
