Ruchi Soya Industries Limited (RSIL) has announced its unaudited financial results for the half year (H1) and quarter (Q2) ended September 30, 2011.
As compared to the corresponding period of the previous year, net sales in H1 rose by 65% from Rs.7,262.87 crore to Rs.11,974.78 crore. Profit after Tax ( PAT) declined by 40% from Rs.116.04 crore to Rs.69.94 crore for the half year ended September 30, 2011.
Commenting on the performance for Q2, Mr. Dinesh Shahra, Managing Director, Ruchi Soya Industries Limited said, "The margin for the quarter has been impacted by the higher raw material prices, volatility in the commodity prices and marked to market (MTM) provisions due to steep fall in the USD-INR exchange rate. The provision of unrealized loss of Rs.84.93 crore on restatement of the monetary items at the close of the quarter is primarily on account of the USD borrowings. If the Rupee strengthens, this could be made up and impact positively in the coming quarters. The soya crop for the current season is reported to be better than the previous year. We are looking at higher capacity utilization of soya crushing operations in the current year and are hopeful of achieving better performances in the coming quarters.
RSIL is strengthening manufacturing processes while realigning products and markets for value creation. In the times to come, RSIL will focus on branded sales growth with product innovations. "
During Q2, the capacity utilization of crushing facilities increased from 36% to 41% and refining facilities increased from 76% to 82%. Imports rose by 35% from Rs.1,349.22 crore to Rs.1,820.62 crore. Despite lean season for soya crushing operations, the exports increased by 41% from Rs.269.39 crore to Rs.379.81 crore. The Branded sales have gone up by 50% from Rs.930.82 crore to Rs.1397.26 crore.
Ruchi Soya Industries Limited Featuring among the top five FMCG players in India, RSIL is the flagship company of Ruchi Group of Industries. Besides being a leading manufacturer of high quality edible oils, soya foods, vanaspati, and bakery fats, RSIL is also the highest exporter of soya meal, lecithin and other food in gredients from India. RSIL features amongst top three players based on market share in the overall Refined Oil in Consumer Packs (ROCP) in India with leadership position in important segments like Palm Oil.
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