Ruchi Soya

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Patanjali Foods Limited
TypePublic
IndustryFood processing
Fast-moving consumer goods
Founded1985
Headquarters,
India
Area served
Worldwide
RevenueIncrease 24,200 crore (US$3.0 billion) (FY 2022)[1]
Increase 806.3 crore (US$100 million) (FY 2022)[1]
ParentPatanjali Ayurved
Websitewww.ruchisoya.com

Ruchi Soya is the largest manufacturer of edible oil in India. It was acquired by Patanjali Ayurved in 2019. Ruchi Soya has been ranked at 175 in the top 250 consumer products companies, in the "Global Powers of the Consumer Products Industry 2012", according to a report published by Deloitte Touche Tohmatsu.[2]

Ruchi Soya Industries Limited, through its subsidiaries, engages in the manufacture and sale of edible oils, vanaspati, bakery fats, and soya food primarily in India. It also offers soya chunks, granules, and soya flour products. The company is a part of the Ruchi Group. The company exports Agri-Commodities, including raw cotton. It procures material from its close business associates (directly ginners) based at various locations across India. It is exporting to various buying houses, textile mills, and trading companies worldwide. The company extracts various types of seed. It offers food products, such as textured soy protein, soya flour, fruit juice, and soya milk. The company also offers gram, wheat, rice, maize, shorgum, seeds, coffee, marine products, tuar, peas, barley, soap, fresh fruit bunch, seedling, and plant & machinery (equipment).[3]

In later 2010, Ruchi Soya formed a wholly subsidiary called Ruchi Industries Pte. Ltd. Singapore unit will engage in businesses including plantations and processing, dealing in agri-commodity, acquisitions/investments in plantation companies, etc.[4] In June 2022, the company was renamed as Patanjali Foods.[5]

History[edit]

Ruchi Soya Industries Limited was founded in 1986 by Dinesh Sharma.[6]

Brands[edit]

Ruchi's wide range of food products includes cooking oils, soya foods, vanaspati and bakery fats. The edible oil range holds a number of brands including Mahakosh, which is an umbrella brand containing Soybean oil, Cottonseed oil, Groundnut oil; Ruchi Gold Palmolein and Ruchi Gold Mustard oil; Nutrela oils, namely Nutrela Soyabean oil, Nutrela Mustard oil, Nutrela Sunflower oil, Nutrela Groundnut oil and Nutrela Rice Bran oil; and Sunrich sunflower oil. Nutrela is the largest selling soya foods brand in the country, with more than 50% market share. The two vanaspati brands, Nutrigold and Ruchi No. 1 are regional leaders in their respective categories. It also manufactures the soap brand Ruchi No. 1, available in four variants.

Acquisitions[edit]

In January 2010, the company acquired a 50 percent stake in Gemini Edibles & Fats for 45 crore.[7] In June 2021, Ruchi Soya acquired the biscuits and noodles business of Patanjali for 60 crore.[8] It acquired the food business of Patanjali Ayurved for around 690 crore in May 2022.[9]

Leadership[edit]

Dinesh Shahra was the Founder & Managing Director of Ruchi Soya Industries Ltd.[10] who is known in the industry for his strategic business understanding and maverick leadership.[11]

Insolvency[edit]

In December 2017, Ruchi Soya Industries entered into the Corporate Insolvency Resolution Process because of its total debt of about ₹12,000 crores.[12][13]

In December 2019, Patanjali Ayurved acquired debt ridden Ruchi Soya for ₹4350 crores.[14]

References[edit]

  1. ^ a b "Ruchi Soya posts Rs 314 cr profit in Q4". The Economic Times. Retrieved 29 October 2021.
  2. ^ "Ruchi Soya in the global top 250". The Times Of India. The Economic Times, Indian Times. 8 April 2012. Retrieved 21 May 2012.
  3. ^ "ruchi soya industries ltd (RSI:Natl India)". Retrieved 21 May 2012.
  4. ^ "Online fruit juice delivery". Reuters. 20 July 2010. Retrieved 21 May 2012.[dead link]
  5. ^ "Ruchi Soya Industries Ltd now becomes Patanjali Foods Ltd". The Economic Times. 28 June 2022.
  6. ^ "Ruchi Soya inks MOU with Arunachal Pradesh government". Indian Express. 10 October 2016.
  7. ^ "Ruchi Soya buys 50 pc in Gemini for Rs 45 crore". The Economic Times. 7 January 2010.
  8. ^ Chakraborty, Chiranjivi (15 June 2021). "Ruchi Soya acquires biscuits, noodles business of Patanjali ahead of FPO". The Economic Times.
  9. ^ D'Souza, Sharleen (19 May 2022). "Ruchi Soya acquires Patanjali Ayurved's food business for Rs 690 crore". Business Standard.
  10. ^ "Ruchi Soya". www.ruchisoya.com. Retrieved 21 April 2020.
  11. ^ [1] Archived 2014-04-28 at the Wayback Machine
  12. ^ "Ruchi Soya's Run Of Bad Luck And A Self-Inflicted Injury". BloombergQuint. Retrieved 21 April 2020.
  13. ^ "Ruchi Soya's lenders to meet today to consider highest bidder Adani Wilmar's Rs 6,000 cr bid". Firstpost. Retrieved 21 April 2020.
  14. ^ "Patanjali Ayurved completes acquisition of bankrupt Ruchi Soya for ₹4,350 cr". Livemint. 18 December 2019. Retrieved 13 July 2020.