During the third quarter of FY 2012-2013 – Ruchi Soya records 105% jump in Profit

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

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.

Source: http://www.indianexpress.com/news/delhi-bags-27–more-this-budget-infrastructure-gets-biggest-share/1081441/0

Ankesh Shahra receives CSR Award for Community Development

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.

Source: http://planetcorporatenews.wordpress.com/2013/02/22/ankesh-shahra-of-ruchi-soya-receives-csr-award-for-community-development-at-global-csr-congress/

CBI probe against Noida top brass

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 Q2 profit soars 17-fold

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.

Source: http://planetcorporatenews.blog.com/

Ankesh Shahra the flag bearer of Ruchi group

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.

Securing Origination: Ankesh Shahra at the Rabo Bank Advisory Board Meeting in Hong Kong, 2012

December 28, 2012: Shahra – Director, Business Development for    Ruchi Agritrading Pte Ltd, Singapore were invited to attend the prestigious Rabo Bank Food & Agribusiness Advisory Board Meeting that was held in Hong Kong in November 2012. The Theme of the meeting was ‘Burgeoning world food demand and the shrinking  corporate universe” and Ruchi was specifically asked to present their views and perspectives on the importance of M&A for Ruchi across the Food and Agriculture supply chain.  Spread across two days, there were several important thought provoking issues discussed between the key decision makers of the largest Food and agribusiness companies from Asia and the world.

Mr. Dinesh Shahra spoke about the importance of acquisitions at the low end of the business cycle and the value that high quality upstream assets at origination offer for companies such as Ruchi. In  a discussion moderated by x-CNBC anchor Ms. Lorraine Hahn, Mr. Dinesh Shahra mentioned that Asian companies should continue to vertically integrate but in order to remain sustainable, they must combine this integration with specialization down the chain. This is to ensure that they remain the most efficient users of the capital they possess, as niche/specialized companies are on a growth trajectory and are delivering exceptional returns.

Ruchi Group: Spreading Prosperity, Fostering Growth, Enriching Lives

Ruchi Group of Industries is a well-known Indian conglomerate with business interests in diverse field like FMCG, Oils, Steel, Cement, Power, Information Technology, Real Estate, Dairy Products, Agro Commodities, Logistics and Warehousing. The group has its corporate headquarters in Indore, with offices and plants located at major business centers in the country. Ever since our foundation, we have pursued an untainted path of growth despite national and international competition.