Ruchi Soya Q2 PAT rises 29% YoY to Rs 164 cr

Ruchi Soya Industries posted a 29.6% increase in standalone net profit to Rs 164.27 crore on a 50.9% jump in net sales to Rs 5,995 crore in Q2 FY22 over Q2 FY21.

Standalone profit before tax grew by 74% to Rs 220.47 crore in Q2 FY22 from Rs 126.74 crore posted in Q2 FY21. EBITDA increased by 33.73% to Rs 345.67 crore in Q2 FY22 over Q2 FY21. EBITDA margin stood at 5.75% in Q2 FY22.

Ruchi Soya's branded business including brands sold under royalty arrangements and institutional segment achieved sales of Rs 4511.82 crore and Rs 345.64 crore respectively, for the quarter ended 30 September 2021, contributing to 75.26% & 5.77% of the revenue from operations. The branded business delivered resilient performance and registered a growth of 17.43% on quarter on quarter and 70.44% on year-on-year basis.

In Q2 FY22, the food business segment achieved sales of Rs 431.12 crore contributing 9.56% of the total branded business of the company and registered a growth of 57.26% on QoQ basis and 158.35% on YoY basis.

Shares of Ruchi Soya jumped 5.64% to Rs 1,035, snapping their third day losing streak. The stock saw bargain hunting after declining nearly 5% in the past three sessions from its recent closing high of Rs 1029 posted on 10 November 2021.

Ruchi Soya is one of the largest oil palm plantation company in India with over 56,000 hectares under oil palm cultivation engaging with more than 37,000 farmers across nine states in India.

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