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Patanjali Foods Business Update 01/06/2023

by Koushik Gope
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Patanjali Foods, the food and FMCG arm of the yoga guru Baba Ramdev’s Patanjali Ayurved, has announced a price cut of Rs 30-40 per kg on its products. The price cut is effective from June 1, 2023.

The company has taken the price cut in order to pass on the benefits of falling input costs to its customers. The company has also said that it will continue to monitor the market situation and take further price cuts if necessary.

Patanjali Foods is the largest FMCG company in India by revenue. The company has a wide range of products, including food items, personal care products, and Ayurveda medicines.

The price cut by Patanjali Foods is likely to have a positive impact on the Indian FMCG market. The price cut will make Patanjali products more affordable for consumers, which could lead to an increase in sales.

The price cut is also likely to put pressure on other FMCG companies to reduce their prices. This could lead to a price war in the FMCG market, which could benefit consumers.

Here are some of the key takeaways from the news:

  • Patanjali Foods has announced a price cut of Rs 30-40 per kg on its products.
  • The price cut is effective from June 1, 2023.
  • The company has taken the price cut in order to pass on the benefits of falling input costs to its customers.
  • The price cut is likely to have a positive impact on the Indian FMCG market.
  • The price cut is also likely to put pressure on other FMCG companies to reduce their prices.

Patanjali Foods Q4FY23

Patanjali Foods 13% growth in its standalone net profit for the three months ended March period had a positive impact on its share price.

The stock price rose by 0.67% on June 1, 2023, to Rs 1,040.50. This is a significant increase from its previous closing price of Rs 1,021.55.

The company’s revenue from operations also rose by 18% to Rs 7,873 crore during the same period. This was driven by strong growth in the food and FMCG segment, which saw revenues triple YoY from Rs 452 crore to Rs 1,805 crore.

Patanjali said its food products had gained market acceptance and contributed over 68.30% in EBIT in FY23.

The positive news about Patanjali Foods’s financial performance is likely to continue to support its share price in the near term.

The company is well-positioned to benefit from the growing demand for natural and herbal products in India. It also has a strong brand and distribution network, which gives it a competitive advantage over its rivals.

Patanjali Foods sign MOU with Telangana Government

Patanjali Foods Limited, formerly known as Ruchi Soya Industries Limited, has signed a Memorandum of Understanding (MoU) with the Government of Telangana to set up a food processing unit at Uppalancha village in Nalgonda district. The MoU was signed on 29 April, 2023. The facility involves a capital investment of Rs 1,050 crore.

The unit will have a processing capacity of 100,000 tonnes per annum and will produce a range of food products, including edible oil, ghee, flour, rice, pulses, snacks, and bakery items. The plant is expected to create employment for around 1,000 people.

The MoU was signed by Patanjali Foods Managing Director Acharya Balkrishna and Telangana IT and Industries Minister KT Rama Rao in the presence of Chief Minister K Chandrashekhar Rao.

Speaking on the occasion, Rama Rao said that the MoU would help to boost the food processing sector in Telangana. He said that the state government was committed to providing all necessary support to Patanjali Foods for the smooth implementation of the project.

Balkrishna said that Patanjali Foods was committed to providing quality food products to the people of Telangana. He said that the company would use the latest technology to ensure that the products were safe and healthy.

The MoU is a major boost for the food processing sector in Telangana. It is expected to create employment opportunities, boost exports, and promote economic growth in the state.

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