Patanjali Foods climbs on planning to invest up to Rs 1,500 crore in next five years on capex

Patanjali Foods is currently trading at Rs. 1165.00, up by 20.35 points or 1.78% from its previous closing of Rs. 1144.65 on the BSE.

The scrip opened at Rs. 1146.00 and has touched a high and low of Rs. 1175.00 and Rs. 1135.00 respectively. So far 23350 shares were traded on the counter.

The BSE group ‘T’ stock of face value Rs. 2 has touched a 52 week high of Rs. 1495.00 on 22-Sep-2022 and a 52 week low of Rs. 851.70 on 20-Mar-2023.

Last one week high and low of the scrip stood at Rs. 1175.00 and Rs. 1004.00 respectively. The current market cap of the company is Rs. 41625.79 crore.

The promoters holding in the company stood at 80.82%, while Institutions and Non-Institutions held 5.04% and 14.13% respectively.

Patanjali Foods is planning to invest up to Rs 1,500 crore in the next five years on capital expenditure, mostly for scaling up its palm oil business. The company has set a target of clocking a turnover between Rs 45,000-50,000 crore in the next five years as it expands its product offerings and distribution reach.

The company expects its new range of premium offerings in nutraceuticals, health biscuits, Nutrela millet-based cereals, and dry fruits to play a significant part in meeting the five-year target.

Patanjali Foods, erstwhile Ruchi Soya Industries, sells its products under brands like Ruchi Gold, Mahakosh, Sunrich, Nutrela, Ruchi Star and Ruchi Sunlight.