Ruchi Soya Industries on Tuesday announced the acquisition of biscuits business from Patanjali Natural Biscuits Pvt Ltd (PNBPL) in a slump sale at Rs 60.02 crore. The company, in a regulatory filing, said its Board of Directors on May 10 approved the signing of a Business Transfer Agreement (BTA) in this regard with the PNBPL. The acquisition will be completed in the next two months, it added. The amount of consideration for the acquisition agreed under the BTA is Rs 60.02 crore. .The transaction is undertaken on a slump sale basis, Ruchi Soya Industries said. The consideration is payable in two tranches. About Rs 15 crore of the total purchase consideration will be paid on or before the closing date, while the rest Rs 45.01 crore will be paid within 90 days form the closing date, it said.
Ruchi Soya Industries on Wednesday reported a net profit of Rs 227.44 crore for the quarter ended in December. The company had posted a net profit of Rs 7,617.43 crore in the year-ago period because of an exceptional gain of Rs 7,466.06 crore. The net profit in the third quarter of this fiscal year is up by 50 per cent year-on-year if this exceptional gain is excluded. Total income stood at Rs 4,475.6 crore during the third quarter of this fiscal as compared to Rs 3,725.66 crore in the corresponding period of the previous year, according to a regulatory filing. During Q3FY21, the performance of the company s branded business has been very encouraging, with Ruchi Gold, Mahakosh, Nutrela and Ruchi Star registering significant growth. The company s branded business including brands sold under royalty arrangement achieved a sales of Rs 3,017.58 crore in Q3FY21, contributing to 67.42 per cent of the total sales of the company, Ruchi Soya said.
Total income stood at Rs 4,475.6 crore during the third quarter of this fiscal as compared to Rs 3,725.66 crore in the corresponding period of the previous year, according to a regulatory filing.