For
the quarter ending Dec 2022, standalone Net sales (including other operating income) of Patanjali Foods has increased 26.21% to Rs 7,926.64 crore compared to quarter ended Dec 2021. Sales of Seed Extraction segment fell 29.72% to Rs 689.45 crore (accounting for 8.27% of total sales). Sales of segment has gone up 268.41% to Rs 1,570.08 crore (accounting for 18.83% of total sales). Sales of Wind Turbine Power Generation segment has gone up 6.15% to Rs 10.62 crore (accounting for 0.13% of total sales). Sales of Oils & Vanaspati segment has gone up 15.43% to Rs 6,066.51 crore (accounting for 72.77% of total sales). Inter-segment sales rose Rs 392.36 crore to Rs 410.02 crore. Profit before interest, tax and other unallocable items (PBIT) has slumped 20.24% to Rs 355.44 crore. PBIT of Seed Extraction segment fell 87.08% to Rs 15.47 crore (accounting for 4.35% of total PBIT). PBIT of segment rose 370.28% to Rs 162.21 crore (accounting for 45.64% of total PBIT). PBIT of Wind Turbine Power Generation segment fell 15.59% to Rs 0.97 crore (accounting for 0.27% of total PBIT). PBIT of Oils & Vanaspati segment fell 39.10% to Rs 176.79 crore (accounting for 49.74% of total PBIT).
PBIT margin of Seed Extraction segment fell from 12.21% to 2.24%. PBIT margin of segment rose from 8.09% to 10.33%. PBIT margin of Wind Turbine Power Generation segment fell from 11.46% to 9.11%. PBIT margin of Oils & Vanaspati segment fell from 5.52% to 2.91%. Overall PBIT margin fell from 6.68% to 4.26%.
Operating profit margin has declined from 6.69% to 4.64%, leading to 12.40% decline in operating profit to Rs 368.05 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 78.33% to 78.47%. Purchase of finished goods cost rose from 8.93% to 9.66%. Employee cost increased from 0.75% to 0.88%. Other expenses rose from 5.53% to 6.52%. Other income up 78.93% to Rs 37.11 crore. PBIDT fell 8.10% to Rs 405.16 crore. Provision for interest fell 78.51% to Rs 18.94 crore.
PBDT rose 9.49% to Rs 386.22 crore. Provision for depreciation rose 29% to Rs 42.75 crore.
Profit before tax grew 7.47% to Rs 343.47 crore. Provision for tax was expense of Rs 74.28 crore, compared to Rs 85.53 crore. Effective tax rate was 21.63% compared to 26.76%.
Profit after tax rose 15% to Rs 269.19 crore.
Promoters’ stake was 80.82% as of 31 December 2022 ,compared to 98.90% as of 31 December 2021 .
For year-to-date (YTD) results analysis
Net sales (including other operating income) of Patanjali Foods has increased 34.83% to Rs 23,651.73 crore. Sales of Seed Extraction segment fell 30.19% to Rs 1,725.57 crore (accounting for 6.98% of total sales). Sales of segment has gone up 205.31% to Rs 4,542.22 crore (accounting for 18.38% of total sales). Sales of Wind Turbine Power Generation segment has gone up 1.54% to Rs 44.48 crore (accounting for 0.18% of total sales). Sales of Oils & Vanaspati segment has gone up 26.96% to Rs 18,394.08 crore (accounting for 74.45% of total sales). Inter-segment sales rose Rs 949.30 crore to Rs 1,054.63 crore.
Profit before interest, tax and other unallocable items (PBIT) has slumped 18.57% to Rs 880.06 crore. PBIT of Seed Extraction segment fell 65.21% to Rs 64.43 crore (accounting for 7.32% of total PBIT). PBIT of segment rose 484.00% to Rs 858.39 crore (accounting for 97.54% of total PBIT). PBIT of Wind Turbine Power Generation segment fell 7.03% to Rs 15.84 crore (accounting for 1.80% of total PBIT). PBIT of Oils & Vanaspati reported loss of Rs 58.60 crore compared to profit of Rs 731.60 crore.
PBIT margin of Seed Extraction segment fell from 7.49% to 3.73%. PBIT margin of segment rose from 9.88% to 18.90%. PBIT margin of Wind Turbine Power Generation segment fell from 38.89% to 35.61%. PBIT margin of Oils & Vanaspati segment fell from 5.05% to 0.32%. Overall PBIT margin fell from 5.85% to 3.56%.
Operating profit margin has declined from 6.16% to 4.03%, leading to 11.71% decline in operating profit to Rs 954.33 crore. Purchase of finished goods cost rose from 8.51% to 10.27%. Employee cost increased from 0.77% to 0.84%. Other expenses rose from 5.40% to 5.70%. Other income up 210.79% to Rs 206.77 crore. PBIDT rose 1.19% to Rs 1161.1 crore. Provision for interest fell 20.06% to Rs 215.23 crore.
PBDT rose 7.70% to Rs 945.87 crore. Provision for depreciation rose 16.86% to Rs 116.3 crore. Profit before tax grew 6.53% to Rs 829.57 crore. Provision for tax was expense of Rs 206.84 crore, compared to Rs 206.81 crore. Effective tax rate was 24.93% compared to 26.56%.Profit after tax rose 8.89% to Rs 622.73 crore. Promoters’ stake was 80.82% as of 31 December 2022 ,compared to 98.90% as of 31 December 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 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 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 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
Q3 FY23, Food Products and Others business segment achieved sales of Rs
1,570.08 crore contributing 19.81% of Revenue. The edible oils segment
registered sales of Rs 6,066.51 crore contributing 76.53% of Revenue. The
branded sales of the Company including the institutional segment achieved sales
of Rs 6,447.81 crore, which contributes 81.91% of the Total Sale of Products of
the Company for the period.