PATANJALI

Feb 11 (Reuters) - Indian consumer goods maker Patanjali Foods PAFO.NS reported an almost 60% rise in third-quarter profit on Wednesday, aided by steady edible oils sales and tax cuts that increased consumer demand.

The Sunrich brand oil maker's profit rose to 5.93 billion rupees ($65.33 million) for the three months ended December 31, up from 3.71 billion rupees a year earlier.

Demand for edible oil has remained strong over the past few quarters even as other consumer goods have faced a slowdown, as it is a staple for cooking in the world's most populous country.

Revenue from Patanjali's edible oils segment, which makes up about 70% of the company's total revenue, rose about 9% to 73.36 billion rupees.

That led to nearly 17% growth in overall revenue to 104.84 billion rupees.

“Driven by disciplined execution of our business strategies over recent quarters, the Company achieved its strongest financial performance to date across multiple metrics, even amid a dynamic operating environment," CEO Sanjeev Asthana said.

Revenue from the food and fast-moving consumer goods segment rose nearly 40%, helped by tax cuts.

Indian consumer goods makers such as Britannia BRIT.NS, ITC ITC.NS and Dabur DABU.NS have been seeing a gradual recovery in demand, after several quarters of pressure, aided by the tax cuts and slowing inflation.

Earlier in the month, larger peer Adani Wilmar ADAW.NS reported a slump in quarterly profit as it took a large one-off gain in the year-ago period due to sharp commodity price increases.

($1 = 90.7680 Indian rupees)

(Reporting by Komal Salecha in Bengaluru; Editing by Ronojoy Mazumdar and Tasim Zahid)

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By Rajendra Jadhav

MUMBAI, Feb 5 (Reuters) - India's sunflower oil imports are expected to drop around a tenth in 2025/26 to a four-year low as a growing price premium over rivals pushes buyers toward cheaper alternatives, trade officials said.

As a result, the world's largest importer of vegetable oils is likely to increase imports of palm oil, a shift that could help reduce inventories in top producers Indonesia and Malaysia and support benchmark Malaysian palm oil futures FCPOc3.

"With sunflower oil prices rising, India is now likely to import only enough to meet its core demand of around 200,000–225,000 metric tons per month," said Aashish Acharya, vice president at Patanjali Foods Ltd PAFO.NS, a leading importer of edible oils.

Crude sunflower oil from the Black Sea region is currently being offered at about $1,420 a metric ton on a cost, insurance and freight basis for March delivery to India, compared with around $1,165 for crude palm oil and $1,255 for crude soyoil.

Acharya and four dealers with global trade houses estimated that India's sunflower oil imports would drop to 2.65 million tons in the marketing year ending in October, down from 2.94 million tons a year earlier and marking the lowest level since 2021/22.

The dealers declined to be named because they were not authorised to speak to the media.

Russia and Ukraine account for more than two-thirds of global sunflower oil exports, but adverse weather in both countries tightened supplies and lifted prices in January to the highest level in more than three years, said a New Delhi-based dealer with a global trade house.

Argentina is offering sunflower oil at about $10 to $20 a ton cheaper than Black Sea supplies, following improved output, providing some relief for Indian buyers, a dealer said.

Sunflower oil is mainly consumed in India's southern states, but consumers there are shifting toward palm oil, said a Mumbai-based dealer.

The trend was reflected in India's palm oil imports in January, which jumped 51% from December, while sunflower oil imports fell 23%, according to dealers' estimates.

(Reporting by Rajendra Jadhav; Editing by Neil Fullick)

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Adds new quotes

Sept 4 (Reuters) - India late on Wednesday announced tax cuts on hundreds of consumer items ranging from soaps to small cars to spur domestic demand, and simplified its complicated goods and services tax structure to two rate slabs from four, with some exceptions for luxury and "sin" goods.

The benchmark BSE Sensex .BSESN and Nifty 50 .NSEI rose 0.8% each in early sessions.

Here is how the industry has reacted so far:

ANISH SHAH, GROUP CEO & MD, MAHINDRA GROUP

"The next-generation GST reforms... mark a defining moment in India's journey towards building a simpler, fairer, and more inclusive tax system.

At Mahindra, we view these reforms as transformative. They simplify compliance, expand affordability, and energise consumption, while enabling industry to invest with greater confidence."

SAURABH AGARWAL, PARTNER & AUTOMOTIVE TAX LEADER, EY INDIA

"The rationalization of GST rates on automotive vehicles and parts is a truly welcome and significant development. By making vehicles more affordable across all segments, this move will not only boost consumer spending but also simplify complex classification disputes that have long burdened the industry."

SAMIR SHAH, EXECUTIVE DIRECTOR & CFO, HDFC ERGO GENERAL INSURANCE COMPANY

"The GST Council decision to exempt individual health insurance from GST is a welcome development. This move aligns perfectly with the broader ambition of the regulator of 'Insurance for All by 2047,' providing a tangible step forward in that direction.

While it is anticipated that there will be lowering of the premiums due to lowering of the taxes, we are yet to understand the extent of this reduction as this will also depend upon availability of the input tax credit, which will become clearer over the coming days.”

NILESH SHAH, MANAGING DIRECTOR, KOTAK MAHINDRA ASSET MANAGEMENT CO

"The GST announcement lowers inflation, increases growth, boosts consumer sentiment, doesn't disturb the path of fiscal consolidation, improves ease of doing business and partially offers adverse effects of tariffs."

SHAILESH CHANDRA, PRESIDENT SOCIETY OF INDIAN AUTOMOBILE MANUFACTURES

"This timely move is set to bring renewed cheer to consumers and inject fresh momentum into the Indian Automotive sector. Making vehicles more affordable, particularly in the entry-level segment; these announcements will significantly benefit

first-time buyers and middle-income families, enabling broader access to personal mobility."

C S VIGNESHWAR, PRESIDENT, FEDERATION OF AUTOMOBILE DEALERS ASSOCIATIONS

"The 56th GST Council meeting marks a watershed moment for India's automobile retail industry. This is a decisive step that will boost affordability, spur demand, and make India's mobility ecosystem stronger and more inclusive.

One area that may needs earliest clarification is about levy and treatment of cess balances currently lying in dealers' books, so that there is no ambiguity during transition."

SANJEEV ASTHANA, CEO, PATANJALI FOODS LIMITED.

"At Patanjali Foods, we are fully committed to passing on these benefits to our consumers. This initiative will not only enhance FMCG penetration across urban and rural India but also act as a catalyst for broader economic revival by lifting consumption and supporting allied sectors.

Our categories such as ghee, soaps, biscuits, noodles, honey, and chyawanprash will benefit from this reduction."

RADHIKA RAO, SENIOR ECONOMIST AT DBS BANK IN SINGAPORE

Lower GST rates will be positive for growth in the second half of the year and FY27, besides improving operational efficiency and expanding the size of the formal economy.

GARIMA KAPOOR, ECONOMIST, INSTITUTIONAL EQUITIES, ELARA SECURITIES, MUMBAI

"We expect GST related demand boost to add 100 to 120 bps to the GDP growth over next 4-6 quarters, thereby nullifying the negative impact of higher tariffs on exports to US. We remain constructive on the uptick in consumption demand in the economy as multiple policy levers turn favourable for the first time in a decade."

SHRIPAL SHAH, MD & CEO, KOTAK SECURITIES

"The GST rate cuts come at the right time which is just ahead of the festive season and against the backdrop of US tariff tiffs. Lower taxes on essentials, FMCG products, autos and cement will leave consumers with more money in hand.

This should directly boost demand, help traders and businesses see higher volumes, and may even favourably impact next quarter's earnings. It also carries the potential to ease inflation. The key will be how quickly companies pass on the benefits to customers."

DEVARSH VAKIL, HEAD OF PRIME RESEARCH AT HDFC SECURITIES

"The GST reforms represent a paradigm shift toward economic rationality, with rate reductions on essentials like dairy, medicines, and food directly benefiting consumers due to their inelastic nature.

Combined with RBI rate cuts, FY26 income tax rebates, and moderating inflation, these reforms create multiple stimuli for consumption and economic growth."

(Reporting by Chandini Monnappa, Bharath Rajeswaran and Manvi Pant in Bengaluru; Editing by Mrigank Dhaniwala and Nivedita Bhattacharjee)

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Aug 14 (Reuters) - Patanjali Foods Ltd PAFO.NS:

• JUNE-QUARTER CONSOL NET PROFIT 1.8 BILLION RUPEES

• JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 89 BILLION RUPEES

Further company coverage: PAFO.NS

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By Rajendra Jadhav

MUMBAI, Aug 12 (Reuters) - India's soyoil imports are poised to surge 60% year-on-year to a record high in 2024/25, as refiners boost purchases due to cheaper prices compared with rival palm oil, shipments of which are set to hit a five-year low, six dealers told Reuters.

Higher soyoil purchases by India, the world's biggest importer of vegetable oils, will support global soyoil prices BOc2, which have risen 31% so far this year, but weigh on benchmark Malaysian palm oil futures FCPOc3.

In the 2024/25 marketing year ending in October, soyoil imports are likely to jump to 5.5 million metric tons, from 3.44 million tons a year ago, according to estimates from dealers.

Palm oil imports in the year, meanwhile, are likely to fall 13.5% from a year ago to 7.8 million metric tons, the lowest since 2019/20, dealers said. Sunflower oil imports could fall 20% to 2.8 million tons, the lowest in three years, they said.

Higher soyoil imports will lift India's total edible oil imports in the year by 1% to 16.1 million tons, dealers estimated.

Palm oil traded at a premium for many months this year, which prompted buyers to replace it with soyoil, said B.V. Mehta, executive director of the Solvent Extractors' Association of India.

"Soyoil was cheap and plenty in stock, so it ended up grabbing palm oil's market share," he said.

Crude palm oil was commanding a premium of as high as $150 per ton over crude soyoil earlier this year due to tight supplies of the tropical oil in producer countries Malaysia and Indonesia.

Indian consumers are price-sensitive and had relied on palm oil because it was cheap. But its price rally prompted even large industrial buyers to look for alternatives, said Aashish Acharya, vice president at Patanjali Foods Ltd PAFO.NS, a leading importer of edible oils.

While soyoil was initially being bought as a substitute for palm oil, it is now also replacing rapeseed oil, which has become more expensive due to a price rally in the past two months, said a Mumbai-based dealer with a global trade house.

India buys palm oil mainly from Indonesia and Malaysia, while it typically imports soyoil and sunflower oil from Argentina, Brazil, Russia and Ukraine.

This year, however, India is likely to buy more than 600,000 tons of soyoil from Nepal, a New Delhi-based dealer said.

Soyoil shipments from Nepal are tax-free under the South Asian Free Trade Agreement, which is encouraging buyers from eastern India to source soyoil from the Himalayan country, he added.

(Reporting by Rajendra Jadhav; Editing by Joe Bavier)

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July 17 (Reuters) - Patanjali Foods Ltd PAFO.NS:

• RECOMMENDS BONUS SHARES IN RATIO OF 2:1

Source text: ID:nBSE30S0JL

Further company coverage: PAFO.NS

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July 10 (Reuters) - Patanjali Foods Ltd PAFO.NS:

• PATANJALI FOODS LTD - ORDER REVOKES PROHIBITION ON PATANJALI ORGANIC WILD HONEY

Source text: ID:nNSE43Q1fF

Further company coverage: PAFO.NS

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March 13 (Reuters) - Patanjali Foods Ltd PAFO.NS:

• PATANJALI FOODS - PROHIBITION ORDER ON SALE OF PATANJALI ORGANIC WILD HONEY BATCH BY LADAKH ADMIN

• PATANJALI FOODS LTD - ORDER DUE TO PRESENCE OF NITROFURANS IN PATANJALI ORGANIC WILD HONEY

• PATANJALI FOODS LTD - NO MATERIAL IMPACT ON FINANCIAL ACTIVITIES EXCEPT 1.4 MILLION RUPEES

Source text: ID:nNSE3hRtdr

Further company coverage: PAFO.NS

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March 5 (Reuters) -

• LIC INCREASES STAKE IN PATANJALI FOODS TO 7.063% FROM 5.020% - EXCHANGE FILING

Source text: ID:nBSE9zBKcS

Further company coverage: LIFI.NS

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Adds detail on soft oils in paragraphs 5 and 6

By Rajendra Jadhav and Ashley Tang

KUALA LUMPUR, Feb 24 (Reuters) - Palm oil's share of India's annual edible oil imports is set to drop below soft oils for the first time as its rising premium over soyoil and sunflower oil pushes refiners toward more affordable alternatives, the head of an industry body said.

Lower palm oil imports by India, the world's biggest buyer of vegetable oils, could weigh on benchmark Malaysian palm oil prices FCPOc3 and support U.S. soyoil futures Boc2.

"Palm oil is getting pricey due to supply issues, so buyers are naturally shifting to soyoil and sunflower oil instead," said Sanjeev Asthana, president of the Solvent Extractors' Association of India (SEA), in an interview with Reuters.

The country's palm oil imports in the 2024/25 marketing year ending in October 2025 could fall to as low as 7.5 million metric tons, the lowest in five years, said Asthana, who is also the CEO of Patanjali Foods Ltd PAFO.NS.

Palm oil is losing market share to soft oils, mainly sunflower oil and soybean oil, which are projected to account for a slightly larger volume of imports, he said.

Soft oils describe those that remain liquid at room temperature, whereas palm oil hardens.

Palm oil accounted for 56% of India's total edible oil imports in the last marketing year, but in the first three months of the current year its share fell to 43%, the SEA data showed.

Palm oil has been trading at a premium over rival oils for the past few months as supplies from top producers Indonesia and Malaysia were affected by floods at a time when Jakarta has also moved to increase the tropical oil's use in biodiesel.

The current premium for palm oil is not sustainable, and once it begins trading at a discount, likely within two months, Indian buyers will increase their imports, Asthana said.

Soyoil imports in the current year could increase by 1 million to 1.5 million tons from last year's 3.4 million tons, while sunflower oil imports may rise slightly from last year's record level of 3.5 million tons, he said.

India meets nearly two-thirds of its vegetable oil demand through foreign sourcing. It buys palm oil from Indonesia, Malaysia and Thailand, while soyoil and sunoil come from Argentina, Brazil, Russia and Ukraine.

The rising availability of local oils, which will help fulfil incremental demand, is expected to keep the country's total edible oil imports steady at around 16 million tons this year, Asthana said.

(Reporting by Rajendra Jadhav and Ashley Tang; Editing by Jamie Freed and David Evans)

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Feb 19 (Reuters) - Patanjali Foods Ltd PAFO.NS:

• SUPREME COURT QUASHES 1.86 BILLION RUPEES DEMANDS ON CO

Source text: ID:nBSE9PntpY

Further company coverage: PAFO.NS

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Feb 18 (Reuters) - Patanjali Foods Ltd PAFO.NS:

• SUPREME COURT DISMISSES INCOME TAX DEPARTMENT'S SPECIAL LEAVE PETITION

Source text: ID:nBSE6LG40W

Further company coverage: PAFO.NS

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Feb 10 (Reuters) - Indian consumer goods maker Patanjali Foods PAFO.NS reported a 71% rise in third-quarter profit on Monday, aided by robust demand at its mainstay cooking oils business.

The Ruchi Gold oil maker's profit rose to 3.71 billion rupees ($42.4 million) for the three months ended December 31, from 2.17 billion rupees a year earlier.

Demand for edible oil, a staple in Indian households, has remained strong in recent quarters, even as inflation-affected consumers avoided branded consumer goods and oil makers raised prices to pass on rising ingredient costs.

Last month, larger peer Adani Wilmar ADAW.NS reported a twofold surge in quarterly profit, aided by demand for its cooking oils.

Revenue from Patanjali's edible oils segment, which makes up nearly three-fourths of its total revenue, rose 22.5% during the quarter.

That fuelled a 15% growth in overall revenue to 91.03 billion rupees.

However, revenue from the food and fast moving consumer goods segment fell 18%, hurt by subdued demand in the category.

Patanjali Foods' expenses rose 13% as a mid-September hike in import taxes on crude and refined edible oils drove up input costs for the company.

($1 = 87.4800 Indian rupees)

(Reporting by Nishit Navin in Bengaluru; Editing by Devika Syamnath)

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Feb 5 (Reuters) - Patanjali Foods Ltd PAFO.NS:

• PATANJALI FOODS LTD - PATANJALI GROUP PARTNERS WITH IBSFINTECH FOR TREASURY MANAGEMENT

Source text: ID:nBSE5hxxgv

Further company coverage: PAFO.NS

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Jan 23 (Reuters) - Patanjali Foods Ltd PAFO.NS:

• FSSAI DIRECTS PATANJALI FOODS TO RECALL RED CHILLI POWDER BATCH AJD2400012

Source text: ID:nBSEZKY6H

Further company coverage: PAFO.NS

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Jan 9 (Reuters) - Patanjali Foods Ltd PAFO.NS:

• PATANJALI FOODS LTD - FILES APPEAL AGAINST ARBITRATION TRIBUNAL AWARD

Source text: ID:nBSE5xSjsm

Further company coverage: PAFO.NS

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Dec 16 (Reuters) - Patanjali Foods Ltd PAFO.NS:

• PATANJALI FOODS LTD - STARTS COMMERCIAL PRODUCTION AT NIGLOK PALM OIL MILL

Source text: ID:nBSEbslsY7

Further company coverage: PAFO.NS

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Nov 26 (Reuters) - Life Insurance Corporation of India LIFI.NS:

• LIC - INCREASED SHAREHOLDING IN PATANJALI FOODS FROM 4.986% TO 5.020%

Further company coverage: LIFI.NS

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Oct 24 (Reuters) - Indian consumer goods maker Patanjali Foods PAFO.NS reported a 21% rise in second-quarter profit on Thursday, aided by strong demand at its mainstay cooking oils business.

The Ruchi Gold oil maker's profit rose to 3.09 billion rupees (about $37 million) for the three months ended Sept. 30, from 2.55 billion rupees a year earlier.

India's edible oil demand has been buoyant as cooking oils remain affordable despite an import duty hike, analysts said.

Consumer goods makers have also been witnessing a pickup in demand in India's rural areas, with sales there outperforming urban areas.

Revenue from Patanjali's edible oils segment, which makes up nearly three-fourths of its total revenue, rose about 10% during the quarter.

That led to a 4% growth in overall revenue to 81.54 billion rupees.

However, revenue from the food and fast moving consumer goods segment fell 7%, in line with sluggish demand at the industry level, the company said in a statement.

Margins on earnings before interest, tax, depreciation, and amortization expanded to 6.06% from 5.34% a year earlier.

Peer Adani Wilmar ADAW.NS also reported higher second quarter profit on steady edible oils demand.

($1 = 84.0520 Indian rupees)

(Reporting by Ashna Teresa Britto, Additional Reporting by Manvi Pant; Editing by Mrigank Dhaniwala)

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Oct 9 (Reuters) - Patanjali Foods Ltd PAFO.NS:

• ARBITRATION TRIBUNAL PASSED AWARD IN ARBITRATION WITH ASHAV ADVISORY

• AWARD DIRECTS PATANJALI AYURVED, OTHERS TO PROVIDE AAL WITH 18.7 MILLION SHARES OF CO

Source text for Eikon: ID:nBSE5ZTrrT

Further company coverage: PAFO.NS

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Oct 8 (Reuters) - Patanjali Foods Ltd PAFO.NS:

• INDIA COMPETITION WATCHDOG: APPROVES BUYING OF HOME, PERSONAL CARE BUSINESS OF PATANJALI AYURVED BY PATANJALI FOODS

Further company coverage: PAFO.NS

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Recasts first paragraph, updates with Indonesia palm oil association comments in paragraphs 14-15

By Rajendra Jadhav

MUMBAI, Sept 23 (Reuters) - Indian refiners cancelled 100,000 metric tons of palm oil purchases for delivery between October and December, as New Delhi's move to raise import duties amid a rally in overseas prices prompted them to book profits, five trade officials told Reuters.

Refiners in the world's largest importer of palm oil cancelled this quantity over the past four days, including 50,000 tons on Monday, after Malaysian palm oil futures jumped to their highest level in 2-1/2 months.

The Indian cancellations could limit the rally in Malaysian palm oil prices FCPOc3, although they could support soyoil prices BOc2 as some refiners shift to soyoil.

India earlier this month raised the basic import tax on crude and refined edible oils by 20 percentage points, which effectively increases the total import duty on crude palm oil to 27.5% from 5.5%.

"The hefty duty hike and the jump in Malaysian prices caught everyone off guard," said an Indian buyer who operates a refinery on the east coast and cancelled palm oil shipments for October delivery.

"It created a situation where refiners can make more money by cancelling old purchases instead of refining and selling. Sellers are happy too, since they can now sell at higher prices to new buyers."

India, on average, imports 750,000 tons of palm oil every month, and the cancellation of 100,000 tons represents about 13.3% of monthly imports.

Crude palm oil (CPO) is currently being offered at about $1,080 a ton, including cost, insurance and freight (CIF), in India for October delivery, compared to around $980 to $1,000 a month ago, giving profit margin of $80 to $100 to buyers.

East Coast-based refiners are washing out on contracts by cancelling them and making a very decent profit, said Aashish Acharya, vice president at Patanjali Foods Ltd PAFO.NS, a leading importer of edible oils.

India imports palm oil mainly from Indonesia, Malaysia and Thailand.

"Refiners aren't sure about the demand for the December quarter with these higher prices. They're also worried about whether the prices will hold. That's why they're cancelling contracts," said Sandeep Bajoria, chief executive of Sunvin Group, a vegetable oil brokerage and consultancy firm.

Price-sensitive Asian buyers traditionally rely on palm oil due to its low cost and quick shipping times. However, with the recent rise in prices, palm oil is now trading at a premium over soyoil.

Buyers will prefer buying cheaper soyoil and sunflower oil for winter months than expensive palm oil, said a Mumbai-based dealer with a global trade house.

Indonesia's palm oil producer association GAPKI hoped the recent changes in Indonesia's export levy could boost global demand of the edible oil, especially from India, the group secretary general Hadi Sugeng said late on Monday.

The world's biggest palm oil exporter Indonesia last week lowered its palm oil export levy to improve competitiveness against rival edible oils.

India's palm oil imports usually moderate during winter months as the tropical oil solidifies at lower temperatures.

India buys soybean and sunflower oil mainly from Argentina, Brazil, Russia and Ukraine.

(Reporting by Rajendra Jadhav; Editing by David Evans and Stephen Coates)

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Sept 23 (Reuters) - Patanjali Foods Ltd PAFO.NS:

• INVESTED 250 MILLION RUPEES IN UNIT

Source text for Eikon: ID:nBSE6blPB6

Further company coverage: PAFO.NS

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By Rajendra Jadhav

MUMBAI, Sept 20 (Reuters) - Malaysian palm oil is likely to trade between 3,700 to 4,500 ringgit ($885 to $1,053) a metric ton from now until June, as demand is expected to be buoyant during the Chinese Lunar New Year and the holy month of Ramadan, industry analyst Dorab Mistry said.

The benchmark palm oil contract FCPOc3 for December delivery on the Bursa Malaysia Derivatives Exchange gained 42 ringgit, or 1.08%, to 3,918 ringgit ($937.74) a metric ton as of 0604 GMT on Friday.

"Prices will begin a new bull market in Jan-March 25. The combination of Chinese New Year and Ramadan in the Jan-March quarter is bullish," said Mistry, a director of Indian consumer goods company Godrej International, in a presentation at industry conference Globoil in Mumbai on Friday.

Palm oil consumption tends to rise during the Chinese New Year festivities. Similarly, consumption of edible oils usually jumps during the holy month of Ramadan, due in late February and March next year, as Muslims gather for communal feasts to break their fast.

Demand for vegetable oils from the food and energy sectors is likely to grow by 6 million metric tons in 2024-25 mainly due to rising consumption in Brazil, India, Indonesia and the United States, Mistry said.

He added factors such as crude oil prices, overall climatic conditions and weather conditions in South America - a leading producer of soybeans - would weigh on palm oil prices.

Any move by India to reduce tariffs later this year or next year would be a key factor in determining palm oil prices, Mistry said.

India last week sharply raised the basic import tax on crude and refined edible oils by 20 percentage points to help protect farmers reeling from lower oilseed prices.

Despite the hike in import duties, India's edible oil consumption is set to grow at a pace of 2% to 3% as cooking oils remain affordable, Sanjeev Asthana, CEO at Patanjali Foods Ltd PAFO.NS, a leading importer, told Reuters on Wednesday.

Mistry said U.S. soyoil futures would continue to benefit from brisk biodiesel demand.

($1 = 4.1780 ringgit)

(Reporting by Rajendra Jadhav; Editing by Jamie Freed)

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By Rajendra Jadhav

MUMBAI, Sept 18 (Reuters) - India's edible oil consumption is set to grow at a pace of 2%-3% as cooking oils remain affordable despite an import duty hike, a leading importer told Reuters on Wednesday.

New Delhi on Friday raised the basic import tax on crude and refined edible oils by 20 percentage points to help protect farmers reeling from lower oilseed prices.

"As we enter the peak festival season, demand will remain strong. Despite the duty hike, edible oil prices are affordable," said Sanjeev Asthana, chief executive officer at Patanjali Foods Ltd PAFO.NS.

"Edible oils' demand could grow by 2%-3% in the 2024-2025 marketing year starting from Nov. 1 because of rising population and prosperity," he said.

India is the world's largest importer and meets 70% of its vegetable oil demand through foreign sourcing. It buys palm oil from Indonesia, Malaysia and Thailand, while soyoil and sunoil come from Argentina, Brazil, Russia and Ukraine.

The country's palm oil imports in 2024-25 could be between 9-10 million metric tons compared to around 9 million tons this year as tropical oil is likely to regain the market share it lost to rival sunflower oil due to a higher premium, he said.

"We witnessed an unusual surge in sunflower oil imports this year due to attractive prices. Next year, sunflower oil imports may return to the normal range of 3 million tons," he said.

India's sunoil imports in the current year are expected to surge to record 3.6 million tons from year-ago 3 million tons.

Russia and Ukraine's abundant sunoil supplies brought prices down and made it competitive against rival oils.

Soyoil imports would remain largely steady next year, around this year's level of 3 million tons, Asthana said.

India's soybean crop in 2024 could rise to 11 million tons from approximately 10 million tons last year, if the weather remains favourable over the next few weeks, he said.

(Reporting by Rajendra Jadhav; Editing by Sumana Nandy)

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Sept 16 (Reuters) - Patanjali Foods Ltd PAFO.NS:

• PROMOTER PATANJALI AYURVED SOLD 2.71% STAKE IN CO VIA BLOCK TRADE

Source text for Eikon: ID:nBSE7vtnvl

Further company coverage: PAFO.NS

(Reporting by VijayDattaram Malkar)

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CHENNAI/BENGALURU, Aug 5 (Reuters) - India's Marico MRCO.NS, which owns the Saffola and Parachute packaged oil brands, reported a slightly bigger-than-expected increase in first-quarter profit on Monday, helped by steady demand and said its earnings would grow this year.

The company's consolidated net profit rose 8.7% to 4.64 billion rupees ($55.4 million) in the April-June quarter, just above analysts' average estimate of 4.63 billion rupees, according to LSEG data.

Total revenue from operations increased 6.7% to 26.43 billion rupees, marking its biggest growth in more than two years. Revenue from India, which made up three-fourths of total revenue, climbed 7.4%.

For Marico, sales volumes for both cooking and hair oils increased in the quarter. While the Parachute hair oil business was helped by higher prices, its Saffola cooking oil business benefitted from price cuts.

Revenue growth will "trend upwards" on higher sales volumes, including in the international business, with earnings also increasing this financial year, Marico said in an investor update.

The company's shares were up 2.1% at 676.6 rupees at 14:05 IST, taking their gains for the year to more than 23%.

Branded cooking oil sellers in India, including Fortune-owner Adani Wilmar ADAW.NS and Ruchi Gold-owner Patanjali Foods PAFO.NS, typically book higher profits when edible oil prices are stable, according to industry executives.

Last month, both companies posted solid profits, also citing a stability in edible oil prices.

Overall, though, consumer goods makers have posted mixed results.

Dove soap-maker Hindustan Unilever HLL.NS reported higher earnings as price cuts boosted demand, while KitKat-maker Nestle India NEST.NS reported its slowest growth in eight years as price hikes drove consumers away.

($1 = 83.8220 Indian rupees)

(Reporting by Praveen Paramasivam in Chennai and Ashna Teresa Britto in Bengaluru; Editing by Savio D'Souza)

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July 31 (Reuters) - Patanjali Foods Ltd PAFO.NS:

• CLARIFICATION ON RECENT NEWS ITEM ABOUT GQG PORTFOLIO

• AGGREGATE SHAREHOLDING OF GQG ENTITIES IN CO WAS 3.19% AS OF MARCH 31 AND JUNE 30

• THERE WAS NO CHANGE IN SHAREHOLDING OF GQG INDIA ENTITIES DURING JUNE QUARTER

Source text for Eikon: ID:nBSE16zfvV

Further company coverage: PAFO.NS

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BENGALURU, July 29 (Reuters) - India's Adani Wilmar ADAW.NS reported a first-quarter profit on Monday, compared with a year-ago loss, helped by higher sales of its edible oils and foods such as basmati rice, sending its shares up more than 6% in afternoon trading.

The company, a joint venture between Indian ports-to-power Adani group and Singapore's Wilmar International WLIL.SI, reported a consolidated net profit of 3.13 billion rupees ($37.4 million) for the April-June quarter.

That compared with a year-ago loss of 789.2 million rupees.

A 2% year-on-year rise in prices of palm oil -- a key raw material -- helped power an 8% jump in revenue in Adani Wilmar's mainstay edible oil segment.

Sales volumes rose 12% in the business, which includes the 'Fortune' brand of oil and accounts for three-fourths of the company's total revenue.

The stability in edible oil prices augurs well and the consumer shift to branded staples is also benefitting the business, said CEO and Managing Director Angshu Mallick.

Revenue from the company's foods unit, which includes soya chunks and basmati rice, grew 40%, with volumes surging 42%.

Adani Wilmar, which has also been expanding its distribution, said overall revenue increased 10% to 141.69 billion rupees.

Earlier this month, Patanjali Foods PAFO.NS, which makes 'Ruchi Gold' brand of edible oils, reported a threefold jump in quarterly profit, also benefitting from stable edible oil prices and higher demand for its packaged foods.

'Saffola' oil-maker Marico MRCO.NS is set to report results next month.

Adani Wilmar's shares were last up 6.4%, cutting their losses for the year to 2.6%. Patanjali Foods's stock has risen about 7% in 2024, while Marico's has jumped nearly 24%.

($1 = 83.7275 Indian rupees)

(Reporting by Hritam Mukherjee and Ashna Teresa Britto in Bengaluru; Editing by Savio D'Souza)

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BENGALURU/CHENNAI, July 19 (Reuters) - India's Patanjali Foods PAFO.NS reported a threefold jump in quarterly profit on Friday, as the consumer goods maker benefited from stable edible oil prices and higher demand for its packaged foods.

Branded cooking oil sellers including Saffola parent Marico MRCO.NS, Fortune brand owner Adani Wilmar ADAW.NS and Patanjali typically book higher profits when edible oil prices are stable, according to industry executives.

Patanjali's profit after tax rose to 2.63 billion Indian rupees ($31.44 million) for the quarter ended June 30 from 877.5 million rupees a year earlier, according to a regulatory filing.

The Ruchi Gold oil maker, which brings in nearly three-fourth of its revenue from its edible oil business, said the reduced volatility in the prices drove profit growth, with expenses decreasing 11% in the first quarter.

Patanjali also said revenue from its foods and consumer goods business increased marginally even as its edible oil segment fell due to a heat waves-triggered drop in demand.

Overall revenue dropped 7.6% to 71.73 billion rupees.

Patanjali is the first major consumer goods maker to report earnings. Larger peers Adani Wilmar and Marico expect an uptick in quarterly sales, according to quarterly updates earlier this month.

($1 = 83.6640 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru and Praveen Paramasivam in Chennai; Editing by Krishna Chandra Eluri)

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