Ruchi Group aims at 15% higher revenue

Ruchi Group of Industries today said it is expecting up to 15 per cent growth in revenue following high crushing, better margins and growth in soya meal exports.

“We are expecting 10-15 per cent growth in sales this fiscal year mainly on account of higher crushing, better margins through product innovations and increase in branded sales. Rise in soya meal exports will also help in boosting our revenue,” Ruchi Group of Industries Managing Director Dinesh Sahara told reporters here. The company’s overall revenue in FY’12 stood at nearly Rs 26,000 crore.

Ruchi Group of Industries, which recently launched margarine, is planning to introduce more healthy options of edible oils in future. About exports, he said the company expects to ship about 1.7-1.8 million tonnes of soya meal compared with 1.5 mt last year.

“We are expecting this rise in exports mainly due to higher global demand as the crops in South America were affected following drought,” he said. On the country’s soyabean production this kharif season, he said it is likely to be a record crop at about 10.5-11 mt and the arrivals will peak in mid-October.

“The late rainfall did not have any major impact either on the crop yield or the size and this is expected to boost the overall soyabean meal exports to about 5 mt this crop year (October-September) from 4.5 mt last year,” Sahara said.

Rape seed or mustard crop is also likely to be 10-15 per cent higher than last year at about 6.5 mt this season mainly due to good rainfall and better soil condition in the producing areas, he said.

Last year, the overall mustard output stood at 5.34 mt. However, due to decline in production of groundnut and cotton seed, the vegetable oil import is likely to be at 9.8 mt this oil year (November-October), which is yet to end. The overall demand, which is also growing at 5 per cent annually, will also add to the rise in imports, he added.

Source: http://business-worldupdate.blogspot.in/2013/02/ruchi-group-aims-at-15-higher-revenue.html

Ruchi Soya eyes 15% rise in FY13 revenues

Ruchi Group of Industries today said it is expecting up to 15 percent growth in revenue following high crushing, better margins and growth in soya meal exports.

“We are expecting 10-15 percent growth in sales this fiscal year mainly on account of  higher crushing, better margins through product innovations and increase in branded sales. Rise in soya meal exports will also help in boosting our revenue,” Ruchi Group of Industries Managing Director Dinesh Sahara told reporters here.

The company’s overall revenue in FY12 stood at Rs 26,000 crore.

Ruchi Group of Industries, which recently launched margarine, is planning to introduce more healthy options of edible oils in future, Sahara added.

Talking about exports, he said, the company is expecting to ship about 1.7-1.8 million tonne soya meal compared to 1.5 million tonne last year.

“We are expecting this rise in exports mainly due to higher global demand as the crops in South America was affected following drought,” he said.

On the soya bean production in the country this kharif season, he said, this year there is likely to be a record crop at about 10.5 to 11 million tonne and the arrivals will peak in mid-October.

“The late rainfall did not have any major impact either on the crop yield or the size and this will boost the overall soya bean meal exports to about 5 million tonne this crop year (October-September) from 4.5 million tonne last year,” Sahara said.

Rape seed or mustard crop is also likely to be 10-15 percent higher than last year at about 6.5 million tonne in this season mainly due to good rainfall and better soil condition in the producing areas, he said.

Last year, the overall mustard output was at 5.34 million tonne.

However, due to decline in production of groundnut and cotton seed the import is likely to be at 9.8 million tonne this oil year (November-October), which is yet to end, he said.

The overall demand, which is also growing at 5 percent yearly, will also add to the rise in imports, he added.

“In the next oil year we expect the overall imports to be half a million more than the current year,” he said.