Patanjali Foods Q4 Results: FMCG Company Witnesses 12% Net Profit Increase The company, which was formerly known as Ruchi Soya, managed to sustain its growth pace in the revenues as it declared growth of 18.15% to INR 7,872.92 crore in the March 2023 quarter
By Teena Jose •
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Patanjali Foods Ltd (PFL), on Tuesday, released its annual results for FY23. As per the report released, the edible oil and FMCG company has witnessed a 12% increase in its net profit to INR 263.7 crore for the quarter ended March 2023.
The company, which was formerly known as Ruchi Soya, managed to sustain its growth pace in the revenues as it declared growth of 18.15% to INR 7,872.92 crore in the March 2023 quarter as against INR 6,663.72 crore a Q4 of the previous fiscal, where its overall net profit rose to INR 886.44 crore from INR 806.30 crore in the preceding fiscal.
Also, EBITDA declined by 19.6% to INR 326.3 crore in Q4FY23 as against INR 406.1 crore in Q4FY22. Further, EBITDA margins contracted to 4.1% in Q4FY23 compared to 6.1% in Q4FY22. Additionally, the company's total income increased to INR 31,821.45 crore in the last fiscal against INR 24,284.38 crore in 2021-22.
The company claimed that the food products under the Patanjali brand are gaining market acceptance to sustain the growth as recorded in the last 3 quarters of FY 2022-23 majorly after the completion of the food business acquisition, adding that the share of FMCG business in overall revenues grew exponentially to INR 6,218.08 crore against INR 1,683.24 crore in FY22.
In an official release, the company also said that it has signed MoUs with the governments of Assam, Arunachal Pradesh, Mizoram, Nagaland and Tripura in the Northeast, and Telangana and Andhra Pradesh.
"In Q4'23, PFL continues to sustain its growth momentum in the revenues as it posted the growth of 18.15 % since revenues increase to INR 7,872.92 crore as against INR 6,663.72 crore in corresponding Q4'22 on YoY basis," the company said.
"The Company continues to sustain its EBIDTA margins in spite of rising inflation levels, macro challenges as well as managing the costs aggressively to maintain margins in a healthy range," it added.
In a meeting held on Tuesday, the company's board recommended a dividend of INR 6 per share -(300%) per equity share on 36,19,18,554 (net of 76,299 treasury shares) equity shares of INR 2.00 each for the financial year ended March 31, 2023.
Moreover, the company focuses on expanding geographically in the international market by increasing its presence in the major markets.
