Patanjali Foods Recommends 300% Dividend for FY23!

In the fourth quarter and the fiscal year ending March 31, 2023, financial results for Patanjali Foods Ltd were released yesterday.    

The company’s net profit for the fourth quarter which concluded on March 31, 2023, climbed by 12.49% to Rs 263.71 crore from Rs 234.43 crore as compared to the same quarter last year. The company’s total net sales in Q4FY23 climbed from Rs 6,676.20 crore to Rs 7,962.95 crore in a comparable quarter the year before, a rise of 19.27%.           

The company’s fourth-quarter net profit decreased marginally from the third quarter to Rs 263.71 crore from Rs 269.19 crore. In the same period, the company’s overall sales remained the same from Rs 7963.75 crore to Rs 7962.95 crore.      

For the fiscal year that ended on March 31, 2023, the company recorded a rise in net sales of 31.04%, from Rs 24284.38 crore to Rs 31821.45 crore. Its net profit increased by 9.94% from Rs 806.31 crore to Rs 886.44 crore in the year ending March 31, 2022.    

For the fiscal year ending March 31, 2023, the company board suggested a dividend of Rs 6 per equity share with a face value of Rs 2 each or 300%, subject to the member’s approval at the following Annual General Meeting.    

Today the stock opened at Rs 1010.10 and currently, it is trading at Rs 1044.50, up by 2.23%. So far 25,922 shares were traded over the counter at BSE. The company has a market cap of around Rs 37,800 crore. It has a 52-week high of Rs 1495 and a 52-week low of Rs 851.70.      

Earlier Patanjali Foods Ltd was known as Ruchi Soya Industries. It is one of India’s largest FMCG companies in the edible oil sector, and one of the largest fully integrated edible oil refining companies in the country, with diversified presence in packaged foods and the FMHG segment.

Also, watch: Patanjali Share: Stock Analysis