Ruchi Soya Q2 FY07 consolidated net sales at Rs.1,555.39 crore; Consolidated PAT at Rs.18.69 crore

Mumbai, October 26, 2006: Ruchi Soya Industries Limited (RSJL) today announced its post merger results for second quarter ended September 30, 2006.

Consolidated other than Param Industries, Net Sales for the quarter ended September 30, 2006 stood at Rs.1555.39 crore and Consolidated Net Profit for Q2 FY07 stood at Rs.1.8.69 crore.

Standalone Net Sales for Q2 FY07 stood at Rs.1310.83 Crore as compared to Rs.958.46 Crore in Q2 FY06, registering a growth of 37%. Stand alone Net Profit for Q2 FY07 at Rs.15.89 crore, registering a growth of 64% compared to Rs.9.70 crore for the same period last year.

Following the Bombay High Court nod for amalgamation, General Foods Limited, Ruchi Health Foods Limited, Ruchi Private Limited, Aneja Solvex Limited, Ruchi Credit Corporation Limited and Soya Processing. Vegetable Oils and Fats and Food businesses of Madhya Pradesh Glychem Industries Limited are merged with Ruchi Soya Industries Ltd with effect from 1st April, 2005.

Commenting on the results, Mr Dinesh Shahra, Managing Director, Ruchi Soya Industries Limited, said: "We are pleased to announce an improved performance of the consolidated entity during the quarter / half year ended September 30, 2006. The highest ever crop production for the current peak season augurs well for the industry, in general and our company, in particular. We are fully geared to capitalize the opportunities to grow our business volumes and sustain leadership position in the industry. We believe that the timely expansion of our production cilities at strategic locations and the consolidation initiatives undertaken by us will strengthen our competitive advantages in the times to come. Considering the overall economic growth, the demand led consumption growth and our focus on the growing branded retail segment, we are hoping of a promising future for our company."

RSIL has been honored by Dun and Bradstreet, at American Express Corporate Awards, 2006, as the No.1 food processing company in India. RSIL have also been honored by this year’s Globoil award for the highest exporter of deoiled cake and highest importer of edible oils in India.

Source : Equity Bulls

Keywords