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Wednesday August 31, 08:11 PM
Ruchi Group Plans to Consolidate its Operations to Form Flagship Company
Ruchi Soya Industries Ltd., which is a flagship company of Ruchi Group is currently engaged in the business of solvent extraction, refining of edible oil, vanaspati, Soya food and trading. The Board of Directors of the company has considered and approved the appointment of M/s RSM &Co. as consultants to evaluate and advise on the consolidation of each of the businesses of the Ruchi Group, including that of the Company. The Board also approved the appointment of M/s N.M. Raiji & Co as valuers. Mr. Dinesh Shahra, MD – RSIL said, “The objective of consolidation of the businesses is to exploit operational and marketing synergies and also to achieve the benefits of economies of scale. It will also help us to compete effectively in the international market.” The Ruchi Group board has also recommended a dividend of 20 % on the equity share capital of the company against 16% in the previous year. The Board has recorded a total income of Rs.3938 crores for the year ended 31st March, 2005 against 3554 crores in previous year registering a growth of 10.8%. Profit before taxation for the year was Rs. 63.42 crores against Rs. 55.01 crores in previous year showing a rise of 15.29 %. Similarly profit after tax for the year 2004-05 has been Rs. 43.59 crores against 34.16 crores which shows a healthy growth of 27.61% According to a Syndicated Retail Audit Research by India’s leading market research agency, AC Nielsen for the period April 2004-March 2005, Ruchi Soya Industries Limited (RSIL) has been rated as the fastest growing FMCG company in the country with an annual growth of 62%. The branded portfolio of Ruchi is growing at over 25% and after the consolidation; it is expected to rank amongst the top five branded players in the Indian consumer space. Ruchi Soya Industries Limited Ruchi Soya Industries Limited is an agri-business company with an annual turnover of Rs 3916 crores. It is the flagship company of the Rs.11, 000 crore Ruchi Group of Industries. It is a fully integrated Soya processor and the first company in the country to export Soya meals, manufacture edible grade Soya flour and textured Soya proteins. Ruchi has been in a capacity expansion mode in last three years, as the capacity has increased by three times. Coupled with capex, the company has made significant brand investment and this is reflected in the growing contribution from the branded portfolio. . Ruchi has wide range of branded edible oil varieties, on the health proposition, like Nutrela Healthy Cooking Oil (available in variants of Soya oil, Sunflower oil, Groundnut oil & Mustard oil), Soyumm (refined soyabean oil), Sunrich & Ruchi Gold Sunflower Oil), Ruchi Gold Palmolien oil, Nutrela Vanaspati, Mandap (pure refined mustard oil) etc. Besides leadership in the edible oil market, Ruchi is unmatched market leader for its Nutrela soya chunks & granules. It is also the highest exporter of soya products such as Prosoy (Soyabean Meal) and Ruchithin (Soya Lecithin). RSIL has recently won the Soyabean Processors’ Association of India (SOPA) award for its refined soyabean oil – Soyumm. Media contact details Amrita Shahra , Ruchi Soya Industries Ltd , +91 (22) 228 86880, amrita_shahra@ruchigroup.com Doris Rao, IPAN, +91 (22) 226 61755, doris@ipan.com
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