Patanjali Foods posted its fiscal fourth quarter profit at Rs 263.71 crore, up 12.5 per cent in comparison to Rs 234.43 crore in the same quarter last year. It posted revenue from operations at Rs 7,872.92 crore, up 18.1 per cent as against Rs 6,663.72 crore in the fourth quarter of FY22. The company EBITDA stood at Rs 326.3 crore, down 19.6 per cent on-year. Patanjali Foods registered total income for the quarter at Rs 7,962.95 crore and total expenses for the fourth quarter was at Rs 7,613.56 crore. The Board also recommended a dividend of Rs 6 (300 per cent) per equity share of Rs 2 each for the financial year ended March 2023.
Patanjali Foods posted revenue for the edible oils business at Rs 6,136.39 crore, while food and FMCG business clocked revenue of Rs 1,805.18 crore and wind turbine power generation business posted revenue at Rs 8.76 crore during the fourth quarter of FY23.
“The food products under Patanjali brand are gaining the market acceptance to sustain the growth as recorded in last 3 quarters of FY 2022-23 majorly after completion of food business acquisition. EBIDTA earnings on food revenue remains to be strong and robust as it crosses over 13.70 per cent of overall food business revenue,” the company said. It added that the company continued to sustain its EBITDA margins in spite of rising inflation levels, macro challenges while managing the costs aggressively to maintain margins in a healthy range.
Patanjali Foods’ FY23 performance and milestones
In terms of full year, Patanjali Foods posted total income for FY2023 at Rs 31,821.45 crore against Rs 24,284.38 crore in FY 2021-22. The share of FMCG business revenue in overall revenue increased to Rs 6,218.08 crore to reach 19.72 per cent of the overall revenue against 6.95 per cent in the previous year. “The company’s focus on premiumization, offering range and expanding distribution across multiple channels is reflected in revenues and profitability of the Foods business,” it said. Patanjali Foods recorded consistent growth for the third year in a row after successfully implementing the Resolution Plan as approved by NCLT. The acquired food business by the company includes a bouquet of 21 products like cow ghee, honey, chyawanprash spices, medicated juices like amla, aloevera, and fruit Juices, atta, etc.
For the edible oil business, the company posted growth of 21 per cent to 1.91 million metric tonnes in volume terms on the back of expanded distribution reach and superior offering to consumers. Patanjali Foods has increased the area under cultivation for oil palm plantation to 63,816 hectares with overall land allocation of 6,28,000 hectares during FY 2023. It has signed MoUs with the governments of Assam, Arunachal Pradesh, Mizoram, Nagaland and Tripura in North-East and Telangana and Andhra Pradesh.
In respect to biscuits segment, it has executed RCN shipments from Guinea Bissau, West Africa and soybean from Nigeria; launched Almond imports from USA; and has also signed MoUs with The Wonderful Company which is the world’s largest grower and processor of pistachios with 55 per cent volume share, and with Mariani Nuts which is one of the largest processors for almonds and walnuts in the world.
Going forward, Patanjali Foods is working towards expanding geographically in the international market by increasing its presence in the major markets. The company achieved export turnover of Rs 530.80 crore by exporting its products to 33 countries during the year.