Mumbai (Maharashtra) [India], May 27 (ANI): Ruchi Soya Industries Limited, a diversified FMCG and FMHG focused company, on Friday said its board has approved a 250 per cent dividend for the financial year ended March 2022.
This is the company's first dividend after posting a strong and sustainable performance in its maiden post listing fiscal 2022.
Once beleaguered and now steered under the new management led by Yog Guru Baba Ramdev, Ruchi Soya has now bounced back to its glory and started delivering the returns to its shareholders.
The announcement of a bumper dividend at Rs 5 per share (on the face value of Rs 2 per share) is considered to be the highest amongst its peers. The previous highest divided by Ruchi Soya was 25 per cent in the year 2008.
Ruchi Soya Industries posted impressive revenue growth of 48.22 per cent in FY 2022, which jumped to Rs 2,4284.38 crore as compared to Rs 16382.97 crore in the previous year.
In segmental revenue performance, although the company generated major revenues from the oil business, its newly started business-like biscuits, breakfast cereals and nutraceuticals have also shown a quantum jump of 209 per cent as the revenues improved to Rs 1979.48 crore in FY 2022 as against Rs 640.51 crore in the previous year.
The strong growth in revenues of new businesses shows the market acceptance of its new products and also indicates the company's firm and steady march towards becoming one of the top Fast Moving Consumer Goods (FMCG) and Fast Moving Health Goods (FMHG) players.
Yoga Guru Baba Ramdev-led Patanjali Group acquired Ruchi Soya through IBC (Insolvency and Bankruptcy) route in Dec 2019. It has become a turnaround and success story for an insolvent company. (ANI)