Ruchi Soya, the edible oil manufacturer, which has Baba Ramdev, his younger brother Ram Bharat and close aide Acharya Balkrishna on its board, posted 20.13% YoY and 12.15 per cent QoQ rise in total income at Rs 4,475.60 crore.
Ruchi Soya, which was acquired by a consortium led by Baba Ramdev’s Patanjali Ayurveda in December 2019, on Wednesday reported 50.26 per cent year-on-year (YoY) growth in profit after tax (PAT) at Rs 227.44 crore for the third quarter ended December 31, 2020. On a sequential basis, the profit of soya food brand Nutrela-maker jumped 79.46 per cent from Rs 126.74 crore in the September quarter of 2020 (Q2 FY21).
The edible oil manufacturer, which has Baba Ramdev, his younger brother Ram Bharat and close aide Acharya Balkrishna on its board, posted 20.13 per cent YoY and 12.15 per cent QoQ rise in total income at Rs 4,475.60 crore in Q3 FY21. On the operational front, the company delivered EBITDA of Rs 351.71 crore, registering 36.06% increase QoQ and 76.78 per cent YoY. EBITDA margins for the December quarter of the current fiscal stood at 7.86%, up by 1.38% on QoQ basis and by 2.52 per cent on YoY.
During the quarter under review, the performance of the company’s branded business was encouraging, with Ruchi Gold, Mahakosh, Nutrela and Ruchi Star registering significant growth. The company’s branded business, including brands sold under royalty arrangement, achieved sales worth Rs 3,017.58 crore in Q3FY21, contributing to 67.42% of the total sales. The branded business sale registered a growth of 13.99 per cent QoQ and 21.30% YoY.
As per the company, other businesses comprising of oil palm plantation, windmills, export business, oleochemicals and institutional sales cumulatively reported 8.52 per cent growth on a QoQ basis. Exports surged 93.35% sequentially and 73.85% on YoY basis.
During Q3FY21, the performance of the company’s branded business has been very encouraging, with Ruchi Gold, Mahakosh, Nutrela and Ruchi Star registering significant growth. The company’s branded business including brands sold under royalty arrangement achieved a sales of Rs 3,017.58 crore in Q3FY21, contributing to 67.42% of the total sales of the company,” Ruchi Soya said.
In 2019, Baba Ramdev-led Patanjali Ayurved acquired Ruchi Soya in insolvency proceedings. Ahead of Q3 earnings, shares of Ruchi Soya Industries ended Wednesday trade at Rs 711.85, up 1.01 per cent, against previous closing price of Rs 704.75 on the Bombay Stock Exchange.
