SANJEEV ASTHANA
Anti-Ayurveda cartel trying to damage Patanjali's reputation: Baba Ramdev
The yoga guru claimed that people are spreading rumours about the brand because Patanjali is not just a product but has become an ideology for millions of its consumers.
Consumer goods companies set to raise prices by 2-4% in 2024
Companies such as Godrej Consumer Products, Dabur and Emami said price-led growth will be back for the industry. India's largest FMCG firm Hindustan Unilever (HUL) too expects some improvement. Dabur said it has increased prices by 2.5% across its food portfolio, while Emami said it is looking at around 3% price hikes this year.
Price led growth set to make a return as FMCG companies eye hikes
Companies like Godrej Consumer Products, Dabur, and Emami said price-led growth will be back for the industry. Dabur said it has just taken a price increase by 2.5% for the food portfolio, while Emami said it is looking at around 3% price hikes this year.
Patanjali Foods shares fall 3% after September quarter results
The sharp rise in the net profit was primarily due to other income, which rose to Rs 24 crore from Rs 10.5 crore a year ago, besides an improved operational performance.
Patanjali Foods Q2 Results: PAT soars over 2x YoY to Rs 255 crore, revenue down 8%
Revenue from operations, however, declined 8% on year to Rs 7,822 crore. The sharp rise in the net profit was primarily due to other income, which rose to Rs 24 crore from Rs 10.5 crore a year ago, besides an improved operational performance.
Aiming Rs 1 lakh cr turnover for Patanjali Group in next 5 years: Baba Ramdev
Group firm Patanjali Foods (previously Ruchi Soya) will also play a significant part in achieving the milestone, having set a target of Rs 45,000-50,000 crore turnover in next five years. As part of its portfolio premiumisation strategy, Patanjali Foods introduced a new range of offerings in nutraceuticals, health biscuits, Nutrela millet-based cereals, and dry fruits.
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Patanjali Foods to invest up to Rs 1,500 cr on capex in next 5 years
"Our estimation is over five years, we'll invest about Rs 1,200 crore to Rs 1,500 crore of capital expenditure...Most of the expenditure will happen in year four and five, which is where we are pushing for and the rest in the initial years. We have enough capacity and capex already laid out," PTI quoted Asthana as saying.
Patanjali Foods promoters to dilute 6% share to meet minimum shareholding norms, launches road show
Patanjali Foods, formerly known as Ruchi Soya Industries, plans to dilute a 6% stake through an institutional share sale, to satisfy minimum public shareholding norms of 25%. Current public shareholding in Patanjali Foods stands at 19.18%. Baba Ramdev led the Ruchi Soya acquisition in 2019 through the corporate insolvency resolution process. The firm will target global investors for the QIP and Offer for Sale (OFS), with a view to raise funds, depending on market conditions and interest of investors. The company's shares are frozen by the NSE and BSE, which froze shares in 21 promoter-led entities, including Patanjali Ayurved and Acharya Balkrishna, for violating the minimum public shareholding norms.
Promoter shares locked in till April of 2023; expect Patanjali Foods dilution in next couple of months: CEO
Patanjali Foods is in talks with investors and is confident that it will be able to sail through with the dilution process. The company needs to raise fresh capital, but it does not need the money at this time. The company is looking to deploy the money towards supporting further investments. The company is debt-free and should be able to raise the money through an OFS or QIP.
We should see a good pickup in the rural demand: Sanjeev Asthana, Patanjali Food
After the sudden drop, which happened in the second quarter, which impacted across the board all the global companies, our margins should be very positive. Last quarter itself we did exceedingly well. And this quarter also we are expecting to show in good results.
What Patanjali Food’s Sanjeev Asthana is expecting from the Budget
“There was a dip in the rural demand and post the harvest, the high commodity prices and due to the wedding season overall, there was a good uptick in the rural demand in this quarter. I am anticipating that at the back of pretty much similar reasons, we should see the demand momentum continuing to go forward but the growth rate is slightly tempered.”
Very robust Q3 & Q4, premiumisation on plate for most FMCG cos: Patanjali Foods CEO
"In the edible oil category, you will soon see us working towards the premium end of the oil bracket. We are also working on the atta and besan and grocery items. Similarly, we are working on range of juices. A lot of effort goes on in making a consumer move towards the premium end of the product range, where they must see a very visible and clear differentiation between what they were buying earlier and what they are consuming now."
Hopeful rural demand will pick up soon; aggressive expansion across FMCG: Patanjali CEO Sanjeev Asthana
India’s villages contribute around 35% to overall FMCG sector sales. While demand for packaged daily essentials goods such as soaps, toothpaste, food and beverages, revived in the June quarter in urban markets, as consumer sentiment turned positive after two quarters of decline, it stayed negative for rural India, research company NielsenIQ had said in its quarterly update last month.
Sanjeev Asthana on Patanjali group’s 4 IPOs, overseas roadshows & more
“There is nothing on the cards immediately about investing in any other company. But there is a timeline. Swamiji has decided that over the next five years, we will come out with four IPOs and hopefully over a period of time, it will happen. The overseas roadshow will not be about asking for investment but to tell them our plan.”
Patanjali Foods will take price cuts as commodity prices decline: Sanjeev Kumar Asthana
“There is a one-off gain of almost Rs 149 crore on account of the pre redemption of the preference shares. Margins have been slightly sober but overall we expect the environment to improve from this quarter onwards because of the sudden drop in the prices of commodities and its impact on our FMCG businesses like biscuits etc. ”
Patanjali Foods to soon reduce prices of palm, sunflower, soyabean oil by Rs 10-15/litre
The effective reduction in the last 45 days, including the proposed Rs 10-15 per litre cut, would reach to Rs 30-35 per litre, he said, and pointed out that its competitors have not taken similar cuts in the last one and half months.
We have already cut edible oil prices since April; will cut by another Rs 10-15 soon: Patanjali Foods CEO
“If the rural demand sustains itself, then we should have a reasonable passage during the year and with the softening of commodity prices the easing of price burden on the consumer also will go down to that extent. I do not expect any significant drop in demand in the FMCG space in coming months.”
Worst is not over for edible oil industry: Ruchi Soya CEO
“We are getting into the peak production season of palm in Malaysia and Indonesia and to that extent, the palm oil scene seems more comfortable. Soya oil and Sunflower oil are in the territory of uncertainty but net-net, the way prices have spiked, we should watch. I would not yet say that the worst is behind us.”
Ruchi Soya renamed Patanjali Foods. CEO explains the logic and expectations
“I am looking at growing the food businesses by 15- 20% year on year. The edible oil business shall grow 5-10% which is the secular growth in the segment itself and some of the other categories like oil palm, etc, will have longer term tenure in terms of the growth. In four years’ time, that should take us closer to being a Rs 40,000-50,000 crore business.”
Indonesia excluding palm oil from export ban would be a very positive development: Sanjeev Kumar Asthana, Ruchi Soya
“We are hearing that crude palm oil is exempt from the export ban. That means nearly 90% of the problem of what we were anticipating would go away. We are still awaiting the exact clarification. The forward futures market DMD is down almost 3% and so this is a very positive development for India as an importer and I would imagine even for the world as well.”
Ruchi Soya’s Sanjeev Kumar Asthana not overly worried about Indonesian palm oil export ban
“The margins for us is not an issue because edible oils typically are a pass through sort of process and so in the short term, for next quarter, we do not anticipate any challenge because we are adequately covered with the imports and supply chain has been established. The question is how does it run going forward?”
Ruchi Soya CEO on turning zero-debt co and rebranding as Patanjali Foods
“We have used most of the proceeds for retiring our debt and other obligations. The balance will be used as working capital and some of it will go to other general corporate purposes. The company is in a very strong position because our cash flows are throwing up more funds for operations and expanding working capital.”
Ruchi Soya's Rs 4,300 crore FPO kicks off: Should you participate?
"Considering Ruchi Soya's strong brand recall, wide distribution, better financial track record and healthy ROE, we have a positive view for the FPO. It is recommended to “subscribe” the issue from the long term perspective," said Ashika Stock Broking.
Ruchi Soya to use Rs 3,300 cr from FPO proceeds to retire debt: CEO
“Of the total Rs 4,300 crore proceeds, Rs 3,300 crore will be used to retire 80-85% debt. We The debt component of the company’s balance sheet will be negligible and the plan is to retire that also in a few month’s time. The company has to be debt free as early as possible other than the working capital requirements.”
CBI vs CBI: There was clinching evidence against Rakesh Asthana, ex-investigating officer
A Delhi court was Friday told that there were "clinching evidence" against former CBI special director Rakesh Asthana in a bribery case in which he was recently given a clean chit.
CBI vs CBI: Court expresses displeasure over CBI probe in bribery case involving Rakesh Asthana
"Why certain accused, who seem to have a bigger role in the case, were roaming free while the CBI arrested its own DSP," asked Special CBI Judge Sanjeev Aggarwal.
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