For
the quarter ending June 2022, standalone Net sales (including other operating income) of Patanjali Foods has increased 36.93% to Rs 7,210.97 crore compared to quarter ended june 2021. Sales of Seed Extraction segment fell 31.99% to Rs 596.61 crore (accounting for 7.85% of total sales). Sales of Others segment has gone up 593.40% to Rs 572.48 crore (accounting for 7.53% of total sales). Sales of Wind Turbine Power Generation segment has gone up 19.20% to Rs 20.46 crore (accounting for 0.27% of total sales). Inter-segment sales came down from Rs 786.31 crore to Rs 389.20 crore. Profit before interest, tax and other unallocable items (PBIT) has jumped 10.89% to Rs 362.51 crore. PBIT of Seed Extraction segment fell 18.15% to Rs 31.50 crore (accounting for 8.69% of total PBIT). PBIT of Others segment rose 718.32% to Rs 84.99 crore (accounting for 23.45% of total PBIT). PBIT of Wind Turbine Power Generation segment rose 33.07% to Rs 10.79 crore (accounting for 2.98% of total PBIT).
PBIT margin of Seed Extraction segment rose from 4.39% to 5.28%. PBIT margin of Others segment rose from 12.58% to 14.85%. PBIT margin of Wind Turbine Power Generation segment rose from 47.24% to 52.74%. Overall PBIT margin fell from 5.40% to 4.77%.
Operating profit margin has declined from 6.29% to 5.43%, leading to 18.32% rise in operating profit to Rs 391.69 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 81.86% to 77.69%. Purchase of finished goods cost rose from 6.33% to 11.36%. Other expenses rose from 4.72% to 4.87%. Other income up 433.39% to Rs 159.11 crore. PBIDT rose 52.64% to Rs 550.8 crore. Provision for interest up 107.24% to Rs 185.58 crore.
PBDT rose 34.61% to Rs 365.22 crore. Provision for depreciation rose 0.15% to Rs 32.75 crore.
Profit before tax grew 39.34% to Rs 332.47 crore. Provision for tax was expense of Rs 91.21 crore, compared to Rs 65.08 crore. Effective tax rate was 27.43% compared to 27.27%.
Profit after tax rose 39.03% to Rs 241.26 crore.
Promoters’ stake was 80.82% as of 30 June 2022 ,compared to 98.90% as of 30 June 2021 .
Full year results analysis
Net sales (including other operating income) of Patanjali Foods has increased 48.33% to Rs 24,205.38 crore. Sales of Seed Extraction segment rose 7.24% to Rs 3,103.34 crore (accounting for 11.74% of total sales). Sales of Others (Food Products etc.) segment has gone up 209.04% to Rs 1,979.49 crore (accounting for 7.49% of total sales). Sales of Wind Turbine Power Generation segment has gone up 12.65% to Rs 53.50 crore (accounting for 0.20% of total sales). Sales of Oils & Vanaspati segment has gone up 45.47% to Rs 21,291.59 crore (accounting for 80.56% of total sales). Inter-segment sales rose Rs 1,899.68 crore to Rs 2,222.53 crore. Profit before interest, tax and other unallocable items (PBIT) has jumped 68.58% to Rs 1,432.72 crore. PBIT of Seed Extraction segment rose 83.87% to Rs 228.75 crore (accounting for 15.97% of total PBIT). PBIT of Others (Food Products etc.) segment rose 316.03% to Rs 202.59 crore (accounting for 14.14% of total PBIT). PBIT of Wind Turbine Power Generation segment rose 64.62% to Rs 17.48 crore (accounting for 1.22% of total PBIT). PBIT of Oils & Vanaspati segment rose 47.70% to Rs 983.89 crore (accounting for 68.67% of total PBIT).
PBIT margin of Seed Extraction segment rose from 4.30% to 7.37%. PBIT margin of Others (Food Products etc.) segment rose from 7.60% to 10.23%. PBIT margin of Wind Turbine Power Generation segment rose from 22.37% to 32.68%. PBIT margin of Oils & Vanaspati segment rose from 4.55% to 4.62%. Overall PBIT margin rose from 4.67% to 5.42%.
Operating profit margin has jumped from 5.85% to 6.14%, leading to 55.86% rise in operating profit to Rs 1,486.98 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 83.98% to 79.01%. Purchase of finished goods cost rose from 3.11% to 8.61%. Employee cost decreased from 0.84% to 0.76%. Other expenses fell from 6.35% to 5.56%. Other income up 22.80% to Rs 79.01 crore. PBIDT rose 53.77% to Rs 1565.99 crore. Provision for interest fell 4.27% to Rs 354.88 crore. Loan funds rose to Rs 3,696.06 crore as of 31 March 2022 from Rs 3,659.94 crore as of 31 March 2021. Inventories rose to Rs 2,905.33 crore as of 31 March 2022 from Rs 2,363.36 crore as of 31 March 2021. Sundry debtors were higher at Rs 796.22 crore as of 31 March 2022 compared to Rs 438.42 crore as of 31 March 2021. Cash and bank balance rose to Rs 2,016.29 crore as of 31 March 2022 from Rs 386.69 crore as of 31 March 2021. Investments rose to Rs 41.71 crore as of 31 March 2022 from Rs 30.39 crore as of 31 March 2021 .
PBDT rose 87% to Rs 1211.11 crore. Provision for depreciation rose 2.61% to Rs 136.73 crore. Fixed assets declined from Rs 3,465.42 crore as of 31 March 2021 to Rs 3,398.84 crore as of 31 March 2022. Intangible assets increased from Rs 1,515.86 crore to Rs 1,529.54 crore.
Profit before tax grew 108.86% to Rs 1,074.38 crore. Provision for tax was debit of Rs 268.07 crore, compared to credit of Rs 166.37 crore. Effective tax rate was 24.95% compared to negative 32.34%.
Profit after tax rose 18.44% to Rs 806.31 crore.
Promoters’ stake was 98.90% as of 31 March 2022 ,compared to 98.90% as of 31 March 2021 .
Cash flow from operating activities increased to Rs 724.21 crore for year ended March 2022 from Rs 240.88 crore for year ended March 2021. Cash flow used in acquiring fixed assets during the year ended March 2022 stood at Rs 40.43 crore, compared to Rs 21.34 crore during the year ended March 2021.
Other Highlights
In
Q1 FY23, branded business registered a growth of 33.25% and others business
segment registering a growth of 60.49% on YoY basis.
In
June 2022, Ruchi Soya Industries has been renamed Patanjali Foods.
On
18th May 2022, the Company signed the Business Transfer Agreement (BTA) with
Patanjali Ayurved Limited (PAL) to acquire food business portfolio along with
manufacturing plants at Padartha, Haridwar & Newasa, Maharashtra as a going
concern on a slump sale basis for a consideration for Rs 690 crore. The
business got acquired with effect from 1 st July 2022.
In
state of Arunachal Pradesh, company plan to undertake oil palm plantation on
38,000 ha area across 9 districts. Company has already established 2 nurseries
at Pasighat and Holangi and are in the process of establishing 3 more nurseries
in Lower Siang District at Kherram, FTC and Dipa.