Patanjali Foods reported its fiscal first quarter earnings with profit at Rs 262.72 crore, up 199.4 per cent in comparison to Rs 87.75 crore recorded during the first quarter of FY24. It posted revenue from operations at Rs 7173.06 crore, down 7.6 per cent as against Rs 7767.10 crore during the corresponding quarter of previous financial year. The company reported a healthy quarter, with profitability metrics showing solid growth on a YoY basis. This, it added, was largely driven by reduced volatility in edible oil prices along with stable performance in the Food & FMCG portfolio. The company is seeing a boost from new-age channels like e-commerce and quick commerce, it said.
The company achieved EBITDA of Rs 435.08 crore in Q1FY25 vs Rs 211.99 crore resulting in 2X growth YoY. In Q1, the EBITDA margin of the company was 6.07 per cent.
Further, the export revenue during the quarter stood at Rs 53.33 crore. In a regulatory filing, the company said that it has added new markets to its export portfolio, and now has presence in 22 countries.
The company Board had, on July 1st 2024, also approved the acquisition of PAL’s Home and Personal Care Business on a slump sale basis at a cost of Rs 1,100 crore.
Patanjali Foods’ Food & FMCG business
During the quarter in review, the Food and FMCG segment recorded revenue at Rs 1,953.55 crore, contributing to 26.77 per cent of the overall company revenue. EBITDA during Q1 came in at Rs 184.05 crore compared to Rs 360.77 crore in Q1FY24. Patanjali Foods continued its focus on growing its biscuits division and registered a growth of 9.41 per cent on YoY basis. During Q1, it achieved a revenue of Rs 417.03 crore, with new launches of premium biscuits contributing to the growth. The ‘Doodh’ biscuit brand reported a quarterly revenue of Rs 265.77 crore. Revenue from Nutrela TVP came in at Rs 109.89 crore. Further, the Nutraceuticals business registered double-digit sales growth across e-commerce platforms and Patanjali stores, supplemented by new products – Moringa Tablets, Vitamin C + Zinc Capsules, Melatonin and Ashwagandha Gummies, and Kids’ Multivitamin Gummies, it said.
Patanjali Foods’ Edible Oil business
The Edible Oil segment recorded sales of Rs 5,330.33 crore during Q1FY25. Sales of branded edible oil constituted around 79.54 per cent of the total edible oil. During the quarter in review, edible oil volumes were 5.74 lac MT. The segment EBITDA was recorded at Rs 231.63 crore, mainly on account of stable prices and active price risk mitigation strategies.