During the third quarter of FY 2012-2013 – Ruchi Soya records 105% jump in Profit
March 1, 2013 § Leave a comment
Ruchi Soya Industries Limited (Ruchi Soya) has announced its un-audited financial results for the quarter ended December 31, 2012 (Q3). As compared to the corresponding period of the previous year, net profit for the quarter rose by 105.45% from Rs. 24.05 crore to Rs. 49.41 crore whereas net sales rose by 17.56% from Rs. 6,954.29 crore to Rs. 8,175.16 crore.
During the quarter, branded sales registered a healthy 22.95% growth from Rs. 1,374.23 crore to Rs. 1,689.59 crore. Refining capacity utilization improved by 8.85% from 4,78,589 MT to 5,20,960 MT. Export of Soya Meal in value improved by 47.29% from Rs. 883.16 crore to Rs. 1,300.83 crore. Sale of Textured soya protein (TSP) stood at Rs. 28.16 crore registering an impressive rise of 43.53% from Rs. 19.62 crore during Q3 in the last fiscal.
Commenting on the performance, Managing Director, Mr. Dinesh Shahra said, “I am happy to share the healthy growth recorded by the Company during the third quarter ended December 31, 2012. Improved branded sales, better sales realization of oilseed extraction, effective control on the costs and favourable business sentiments helped us to get profit on the track. We are making our efforts to have good performance on a sustained basis in the times to come.”
Ruchi Soya Industries Limited
Featuring among the top five FMCG players in India, Ruchi Soya is India’s number one cooking oil maker and marketer. An Integrated player from farm to fork, Ruchi Soya has secured access to oil palm plantations in India and other important parts of the world. Besides being a leading manufacturer of high quality edible oils, soya foods, vanaspati, and bakery fats, Ruchi Soya is also the highest exporter of soya meal, lecithin and other food ingredients from India. Ruchi Soya 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. Ruchi Soya is committed to renewable energy and exploring suitable opportunities in the sector.
Source: http://planetcorporatenews.wordpress.com/
Delhi bags 27% more this Budget, infrastructure gets biggest share
March 1, 2013 § Leave a comment
Infrastructure and development in Delhi got a boost on Thursday with the Union Budget including a Rs 200 crore increase in funds from last year’s Budget for Jawaharlal Nehru National Urban Renewal Mission (JnNURM). In all, the Delhi government received a 27 per cent increase from the previous year — Rs 1,143 crore for the 2013-2014 compared to Rs 900.
“The increase in JnNURM funds from Rs 500 crore to Rs 700 crore will let us implement more infrastructure projects in the city,” Chief Minister Sheila Dikshit said.She said of the Rs 243 crore increase in allocation, Rs 200 crore was for JnNURM.
“Taxes on big companies and very wealthy people and no pressure on the common man is an excellent step. This is a women-oriented budget with the FM announcing a Nirbhaya fund and a bank exclusively for women,” she said.
Under JnNURM head, allocation for Rajiv Awas Yojana increased to Rs 80 crore this year, compared to the Rs 5 crore in the revised 2012-2013 budget. “The submission on Urban Infrastructure Governance has been increased from Rs 350 crore to Rs 470 crore. Rs 5 crore has been increased under Housing for Urban Poor,” she said.
In recent times, Dikshit has repeatedly requested an increase in the share of Central taxes, which since 2001 has remained stagnant at Rs 325 crore in the form of a grant from the Finance Ministry. “I believe our demand has now been sent to the Finance Commission for recommendations,” she said.
The allocation under normal central assistance has also increased from Rs 281.75 crore to Rs 309.92 crore. The Union Budget also included Rs 10 crore, for the first time, under the Rashtriya Krishi Vikas Yojana. Also, assistance under National Social Assistance Program was increased from Rs 48.60 crore to Rs 54.60 crore.
Delhi received an allocation of Rs 68.39 crore from Ministry of Road Transport and Highways. Urban Development Ministry announced Rs 1 crore for equity towards National Capital Region Transport Corporation and Rs 1 lakh as aid towards the corporation.
Ankesh Shahra receives CSR Award for Community Development
February 22, 2013 § Leave a comment
Mumbai, February 20, 2013: Ruchi Soya Industries Limited (Ruchi Soya) has been felicitated with the CSR Award for Community Development during the World CSR Congress. Mr. Ankesh Shahra who manages the international businesses of Ruchi Soya and participates in the CSR activities of the Company was honoured with the felicitation at a glittering event in Mumbai. Dr. Christoph Stueckelberger, Executive Director and Founder of Globethics and Dr. Bhaskar Chatterjee, Director General & CEO, Indian Institute of Corporate Affairs handed over the trophy and citation to Mr. Ankesh Shahra.
Commenting on the occasion, Mr.Ankesh Shahra stated, “I am very for honouring Ruchi Soya with the award for Community Development. Ruchi believes in sharing its growth with every stakeholder and giving back to the society in a sustainable and transparent manner. A big congratulations to the team.”
An Integrated player from farm to fork, Ruchi Soya has secured access to oil palm plantations in India and other important parts of the world. Besides being a leading manufacturer of high quality edible oils, soya foods, vanaspati, and bakery fats, Ruchi Soya is also the highest exporter of soya meal, lecithin and other food ingredients from India. Ruchi Soya is committed to renewable energy and exploring suitable opportunities in the sector.
Featuring among the top five FMCG players in India, Ruchi Soya is India’s number one cooking oil maker and marketer through popular brands like Nutrela, Ruchi Gold, Mahakosh and Sunrich. Ruchi Soya is working closely with the communities around its plants in Patalganga and Nagpur in Maharashtra. Ruchi Soya believes in the concept of ‘Giving back to the Society’. The corporate social initiatives of Ruchi Group are executed through Shri Mahadeo Shahra Sukrat Trust with the focus on three core areas of Health, Education and Women Empowerment.
CBI probe against Noida top brass
February 22, 2013 § Leave a comment
The Central Bureau of Investigation (CBI) has registered a preliminary inquiry against the former CEO and present chairman of Noida. The move came after Allahabad High Court asked the CBI to investigate appointments of CEO Sanjeev Saran and chairman Rakesh Bahadur and their alleged involvement in allotment of land by the Noida authority.
While the UP government transferred Saran from the post of CEO after the High Court order, Bahadur is still the chairman of Noida authority.
After registering the preliminary inquiry, the CBI asked the Noida authority to provide files relating to land allotments made during the tenure of Bahadur and Saran. The agency also told the UP government that for a fair probe into the case, Bahadur should be transferred.
Sources said that the agency will bring the matter to the notice of the court if Bahadur continues to be the chairman. The High Court had already asked the UP government to transfer Saran and Bahadur and directed the CBI to initiate a probe. The agency plans to question the two officials on the decisions taken by them.
The officials were initially posted as CEO and chairman during the earlier stint of the Samajwadi Party in power. When the BSP came to power, the two officials were suspended. They were re-appointed to the posts when the SP was voted back to power in 2012.
The court said they must be transferred “away from Western Uttar Pradesh” as their presence in the region could “affect the enquiry against them”.
Source: http://www.indianexpress.com/news/cbi-probe-against-noida-top-brass/1077890/
Ruchi Soya net sales up 18%
February 15, 2013 § Leave a comment
During the quarter, branded sales registered a healthy 22.95% growth from Rs. 1,374.23 crore to Rs. 1,689.59 crore
Ruchi Soya Industries Limited (Ruchi Soya) has announced its un-audited financial results for the quarter ended December 31, 2012 (Q3). As compared to the corresponding period of the previous year, net profit for the quarter rose by 105.45% from Rs. 24.05 crore to Rs. 49.41 crore whereas net sales rose by 17.56% from Rs. 6,954.29 crore to Rs. 8,175.16 crore.
During the quarter, branded sales registered a healthy 22.95% growth from Rs. 1,374.23 crore to Rs. 1,689.59 crore. Refining capacity utilization improved by 8.85% from 4,78,589 MT to 5,20,960 MT. Export of Soya Meal in value improved by 47.29% from Rs. 883.16 crore to Rs. 1,300.83 crore. Sale of Textured soya protein (TSP) stood at Rs. 28.16 crore registering an impressive rise of 43.53% from Rs. 19.62 crore during Q3 in the last fiscal.
Commenting on the performance, Managing Director, Dinesh Shahra said, “I am happy to share the healthy growth recorded by the Company during the third quarter ended December 31, 2012. Improved branded sales, better sales realization of oilseed extraction, effective control on the costs and favourable business sentiments helped us to get profit on the track. We are making our efforts to have good performance on a sustained basis in the times to come.”
Nutrela TVC
February 13, 2013 § Leave a comment
Launch of TVC and radio Jingle to tap Bengali market; veteran actor Soumitra Chatterjee to sing a jingle for the new campaign.
Ruchi Soya Industries is set to target the West Bengal market with an aggressive marketing campaign for their premium brand, Nutrela Kacchi Ghani Mustard Oil. The state accounts for over a third (around Rs 110 crore) of the Rs 300-crore mustard oil market in the country.
With the intent of reaching out to Bengali masses, the company is also planning to launch a 35-second TVC and a 25-second radio jingle this month. With the campaign, the company aims to create a bridge between the brand and true ‘Bangaliaana’, using a thoroughly Bengali concept, ‘Jagai Bangaliana’, which aims at evoking the authentic taste of food every time they use Nutrela Kacchi Ghani mustard oil.
The idea revolves around reviving and rejuvenating this ‘Bangaliaana’ and brings back the fading Bengali persona and spirit, reminding them of their roots. The campaign largely aims to reawaken authentic taste of Bengali food. It evokes the rich culture and tradition of the state and exhorting the people of Bengal to rediscover the pride of eating authentic Bengali food.
‘Bangaliyana’ is a tradition that has been passed on from one generation to the next in every Bengali family over the past century. It is a way of life as in the weekend ‘adda’, inviting friends and family to the house and discussing music, literature, politics, food, culture, history and then savouring authentic home cooked Bengali cuisine together. ‘Bangaliyana’ is also in celebrating togetherness and appreciation of Rabindrasangeet or Sumoner ‘gaan’ or Bangla ‘natok’ and even discussing Shakespeare, and most importantly how good the food was at the last brunch party.
Strengthening this connect further, the company has roped in veteran Bengali actor Soumitra Chatterjee to sing a jingle for the new radio campaign.
“We are sure that the campaign will rejuvenate the fading spirit of ‘Bangaliyana’ and the need for ‘kacchi ghani’ mustard oil as the predominant cooking medium. We are extremely excited about reviving ‘Bangaliyana’ and more so being able to make Soumitra Chaterjee partake in bringing the idea alive by singing a song for us,” said Sandipan Ghosh, Assistant Vice-President Marketing, Consumer Brands Division, RSIL.
The television and radio campaign has been conceptualized and developed by Hammer Communications in New Delhi.
The TVC and radio campaign will be simultaneously rolled out in Bengal and Assam. The 360 degree clamour marketing campaign is the company’s first campaign centred around the three-year-old mustard oil brand. Bihar and Jharkhand are next in the company’s radar.
Please note: This channel contains 3rd party videos shared by PR/Media/Advertising Agencies and Production houses.
Videos uploaded have the due credits of the team that has worked on it.
HDFC Life accuses LIC agent of spreading lies about Karkare claim
February 12, 2013 § Leave a comment
More than four years after he was killed by Lashkar-e-Toiba terrorists in the 26/11 carnage, a controversy has erupted over the life insurance claim of then Anti-Terrorism Squad chief Hemant Karkare, with HDFC Life asking Life Insurance Corporation to take action against its employees and agents for alleging that while the state-owned insurer settled claims by Karkare’s family within 24 hours, HDFC Life failed to do so.
HDFC Life has sent a legal notice to LIC demanding action. LIC, on the other hand, is apparently preparing to file a defamation case against the private insurer for dragging its name into the controversy, sources said.
The controversy revolves around postings on the Facebook page of HDFC Life on January 24 including one by a man named Dhananjay Shanware who claimed to be an LIC agent and posted a message on a LIC letterhead that said it settled claims of the slain ATS chief within 24 hours, but HDFC Life failed to do so.
“HDFC Standard Life Insurance rejected the claim outright saying that Hemant Karkare entered the shooting place risking his life voluntarily and did not take precautions even after knowing that his life will be at risk,” said the letter.
However, HDFC Life documents suggest the claims were settled within two days.
HDFC Life had sent a legal notice early last week asking LIC to take action against their agents and employees involved in such activity. While it is yet to receive a response, HDFC Life claims it has also communicated the same with the top management of LIC.
“We are not fighting against any company, but we want the company to take action against their people who are involved in such bad practices,” said Sanjay Tripathy, EVP and head marketing, product and direct channel, HDFC Life.
When reached for its version, LIC declined to comment on the notice sent by HDFC Life and its next course of action. But an LIC official, who did not wish to be quoted, told The Indian Express that LIC is contemplating filing a defamation suit against HDFC Life for dragging its name into the controversy.
HDFC Life is also considering taking direct action against the individuals involved in spreading the rumours.
“In a day or two, we will initiate action against them too,” said Tripathy. HDFC Life has also through communication sent to its employees and policy holders said that the postings on social network sites are malicious rumours and are being spread against them by employees and agents of competitors.
A century later, Lutyens’ showpiece turns to a friend
February 11, 2013 § Leave a comment
When he set out to build New Delhi, Edwin Lutyens had in mind tree-lined avenues and gardens. So he turned to horticulturist William Robert Mustoe to push his plans. They also worked closely to create the Mughal gardens of the Viceroy’s House, which later became the Rashtrapati Bhavan.
A century later, a conservation plan, faithful to the original plan of the Viceroy’s House, has been unrolled. The Indian National Trust For Art and Cultural Heritage (INTACH) has been asked by the Central Public Works Department (CPWD) to use the original plan to carry out landscaping and urban design work on President Estate.
The INTACH, which has already started work, is consulting the detailed description of Mustoe’s landscaping in the original plan.
“We will keep to the true spirit of the plan. Over the years, planting has been done around the estate without much planning. For instance, Ashoka trees have been planted in huge numbers. We will have to see if some of them need to be uprooted. The best landscape artists have been hired as consultants for this project,” INTACH convenor A G K Menon said.
According to Menon, the conservation plan for Rashtrapati Bhavan will be implemented in two phases. Phase-I will include the landscape and urban designing aspect.
“This work will be over in three months. The second phase will include taking on work to restore the original building. A detailed 3D laser scanning of the building will be carried out and another consultant will be involved for this work,” Menon said.
Work on conservation of the main building will be over in six months and a third-party review will be done thereafter. Fire safety measures will be part of the plan.
The estate houses about 10,000 people. “Many of the structures have come up in complete disregard to the character of the place. We will have to look at the original layout and decide what kind of structures fit the heritage character of the estate,” Menon said.
The CPWD, which maintains the building, is also planning a ceremonial hall and the INTACH will look where this can be created.
For a museum on the estate, another consultant will be hired. “We are also looking at developing a museum, which will tell people about the history of all the presidents of India. A ceremonial hall will be developed to receive foreign dignitaries who are currently being received in the courtyard area,” a senior CPWD official said.
Source: http://www.indianexpress.com/news/a-century-later-lutyens–showpiece-turns-to-a-friend/1072366/0
Ruchi Soya Q2 profit soars 17-fold
February 9, 2013 § Leave a comment
Edible oil producer Ruchi Soya today reported about 17-fold jump in its standalone net profit to Rs 65.66 crore for the quarter ended September 30, 2012 on better realisation from exports.
The Mumbai-based company had posted a net profit of Rs 3.78 crore in the year-ago period, it said in filing to the BSE.
The standalone net sales of the soyabean products exporter, however, declined by about 12 per cent to Rs 5,391.33 crore in the second quarter of the current fiscal against Rs 6,093.13 crore in the same quarter period of 2011-12 fiscal
.
“Better sales realisation of Soya extraction and exports and favourable business sentiments towards the end of the quarter helped us to get profit on the track,” Ruchi Soya Managing Director Dinesh Shahra said.
Price parity was restored in the import of crude oil and refining business as the government of India has eliminated taxation anomalies since August 2012, he added.
Shahra said the future outlook is bright following record sowing of soyabean crop in the country.“With the highest ever Soya crop in the current season in India, we are expecting better utilisation of our crushing capacities. Also the business sentiments improving, we are hopeful about achieving better utilisation of our refining facilities at port based locations,” he said.
Ruchi Soya is thus hoping that its financial performance will be far better during the current fiscal, Shahra added.
A leading producer of edible oils, soya foods, vanaspati and bakery fats, Ruchi Soya is also a major exporter of soya meal, lecithin and other food ingredients from India.
Shares of the company at 1310 hours were ruling at Rs 68.25, down marginally by 0.58 per cent from its previous close at the BSE.
Ankesh Shahra the flag bearer of Ruchi group
February 1, 2013 § Leave a comment
A young dynamic entrepreneur is all set to the charge the business world, with his fresh attitude and strategic knowledge the company is set to ride to success. Ankesh Shahra is currently based in Singapore and managing the international businesses for Ruchi Soya. It includes establishing a cross-commodity global trading platform headquartered in Singapore.
His work in business world is highly appreciated and lauded which bagged him the prestigious Globoil Global Young Entrepreneur Award which he received from Member of Parliament and lawyer Ram Jethmalani. He has also has been invited to attend the Rabo Bank Food & Agribusiness Advisory Board Meeting that was held in Hong Kong.
He dons the role of Director, Business Development for Ruchi Agritrading Pte Ltd. Ankesh has a background in Finance, Economics and International Trade and represents the third generation of the Shahra family that started the business conglomerate Ruchi Group. With his distinctive attributes and rich pedigree he is set to take the business in great space.
The Group has business interests across the sectors ranging from Edible oil, Soya foods, Steel, Dairy, Featuring among the top five FMCG players in India; Ruchi Soya Industries is the flagship company of Ruchi Group of Industries. A leading manufacturer of high-quality edible oils, soya food, vanaspati and bakery fats, it is also the highest exporter of soya meal, lecithin and other food ingredients from India. Established in 1986, it is the largest producer and marketer of vegetable oils and soya food, the largest oilseed crusher and edible oil refiner, the largest importer of vegetable oil and the largest exporter of soya derivatives from India. Ruchi Soya has also diversified into Renewable Energy and Plantations in the recent past.
Ankesh Shahra’s ideology is to work towards renewing, to reinterpret and reaffirm Ruchi Soya’s backwards integration strategy into agricultural plantations in Asia and Africa
His stance towards Food security is indeed a prevalent concern, he stresses upon the on three pillars Food security is built upon
Food availability: sufficient quantities of food available on a consistent basis.
Food access: having sufficient resources to obtain appropriate foods for a nutritious diet.
Food use: appropriate use based on knowledge of basic nutrition and care, as well as adequate water and sanitation.
That enables the group to introspect and look ahead, to clarify and consolidate company’s positions as top FMCG players in India.
Metro cities news 