Ruchi Group

by

Ruchi Soya in joint venture for tomato products

Image

FMCG company Ruchi Soya Industries today signed an agreement with Japan’s Kagome and Mitsui to set up a joint venture (JV), RuchiKagome, to manufacture tomato products in India.
“Currently the total annual demand for processed tomato in the country is two lakh tonnes. We are planning to launch a range of tomato products along with Kagome,” Dinesh Shahra, Managing Director and Founder of Ruchi Soya said.
The company is looking to gain about 20 per cent market share in this segment in the next five years.
Ruchi Soya will have 40 per cent stake in the JV and the rest will be held by a special purpose company (SPC) created by Kagome and Mitsui. Kagome and Mitsui own 66.7 per cent and 33.3 per cent stakes respectively in the SPC.
Ruchi-Kagome will set up a manufacturing unit in Maharashtra with initial investment of Rs 44 crore and the commercial production will begin from June 2014, Dinesh Shahra said.
The company is planning to procure tomato directly from the farmers in the western region, he said.
In the first phase, Ruchi-Kagome will target business-to-business model in markets in and around Mumbai, NCR and Bangalore and is expecting Rs 340-crore revenue, then it would move to the business-to-consumer, he said.
“We will also look into exporting our products to countries where our JV is present. However, our initial focus will be on the domestic market,” he said.
India is the second largest tomato producer in the world with 17 million tonnes production annually after China.
Kagome is a leading tomato product company in Japan and supplies food and beverage products in 50 countries.
More Links:
by

Ruchi Soya recognized as largest processor in India

Ruchi Global Limited was established in 1996 as a trading arm of the Ruchi Group of Industries, specialised in the field of agri commodity and trading of various steel product. The company is continuously engaged in its regular business of marketing  and trading of Agro Products, Steel, Tinplate, Gold, and other value added products. An agro commodity includes Soyabean , Mustard seed, Wheat, Barley, Maize, Millet, Rice ,Gram, Moong , Toor ,  Urad , Masoor  and spices – Coriander ,  Chilli, Cumin,  and  green dry peas etc. The company has been also engaged in the business  of ready cotton bales which is purchased from different states i.e. Maharashtra, Gujrat, Haryana and Rajasthan. After china, India is the largest producer and consumer of cotton.

Ruchi Soya Industries Limited has been recognized by the Solvent Extractors Association (SEA) of India for being the largest processor in the country. Ruchi Soya was acknowledge for its leadership in the Indian edible oil industry at the SEA Awards 2013″. Ruchi Soya Industries managing diector Dinesh Shahra received the awards on behalf of the company at a ceremony held in Mumbai on Sunday.

Other Links:

INDIA’S TOP 500 COMPANIES 173 r uchi s oya i ndustries l imited
Ruchi Soya eyes buyouts in Africa
Ram Singh  CBI (Central Bureau of Investigation)
ITC, Ruchi Soya among world’s fastest growing consumer firms
Ruchi Soya Industries
Ruchi Soya enters into JV with Japan”s Kagome, Mitsui
Ruchi Soya partners with Odisha farmers to promote Oil Palm
Ruchi Soya Industries News
Thermax, Ruchi Soya sign MoU for 1MW biomass power project

by

Ruchi Group Records Profit 105% jump

Image

Ruchi Soya Industries Limited (Ruchi Soya) has announced its un-audited financial results for the quarter ended December 31, 2012 (Q3). As compared to the corresponding period of the previous year, net profit for the quarter rose by 105.45% from Rs. 24.05 crore to Rs. 49.41 crore whereas net sales rose by 17.56% from Rs. 6,954.29 crore to  Rs. 8,175.16 crore.

During the quarter, branded sales registered a healthy 22.95% growth from Rs. 1,374.23 crore to  Rs. 1,689.59 crore. Refining capacity utilization improved by 8.85% from 4,78,589 MT to 5,20,960 MT. Export of Soya Meal in value improved by 47.29% from Rs. 883.16 crore to Rs. 1,300.83 crore. Sale of Textured soya protein (TSP) stood at Rs. 28.16 crore registering an impressive rise of 43.53% from Rs. 19.62 crore during Q3 in the last fiscal.

Commenting on the performance, Managing Director, Mr. Dinesh Shahra said, “I am happy to  share the healthy growth recorded by the Company during the third quarter ended December 31, 2012. Improved branded sales, better sales realization of oilseed extraction, effective control on the costs and favourable business sentiments helped us to get profit on the track. We are making our efforts to have good performance on a sustained basis in the times to come.”

Ruchi Soya Industries Limited

Featuring among the top five FMCG players in India, Ruchi Soya is India’s number one cooking oil maker and marketer. An Integrated player from farm to fork, Ruchi Soya has secured access to oil palm plantations in India and other important parts of the world. Besides being a leading manufacturer of high quality edible oils, soya foods, vanaspati, and bakery fats, RSIL is also the highest exporter of soya meal, lecithin and other food ingredients from India. Ruchi Soya features amongst top three players based on market share in the overall Refined Oil in Consumer Packs (ROCP) in India with leadership position in important segments like palm oil. Ruchi Soya is committed to renewable energy and exploring suitable opportunities in the sector.

MORE LINKS:

NSEL scam: Enforcement Directorate to attach more assets
Enforcement Directorate attaches Rs 75 cr assets in NSEL scam case
Enforcement Directorate seizes 16 watches worth Rs 44 lakh
Activist’s murder: CBI raids infra firm in Pune
Coal scam: CBI registers two new cases against private companies
CBI raids Janardhana Reddy’s associates’ residence
CBI conducts raids in connection with horse-trading allegation in Jharkhand Rajya Sabha elections
Enforcement Directorate joins 2G probe
Enforcement Directorate may quiz Bathinda IG, Youth Cong leader for Kandola ‘links’
Income Tax department keeping an eye on Narendra Modi’s rally
Income Tax department puts HRA exemption under scanner

by

Maxus India bags media business of Ruchi Soya

Maxus India bags media business of Ruchi Soya

Maxus India has been appointed as the agency on record (AOR) for Ruchi Soya (Popular Division), including brands Mahakosh, Sunrich and Ruchi Gold. The agency won the account across a multi-agency pitch for Ruchi Soya’s edible oils business.

The account will be handled by the agency’s Mumbai office. It will be headed by Mangesh Korgaonkar. Alok Mahajan, head of marketing, Ruchi Soya Industries, Dinesh Shahra, says “We are extremely excited to work with Maxus India, one of the fastest growing media agencies in the world. We were impressed with their clear vision on our business, their thought leadership and above all their enthusiasm to partner with us on our journey towards becoming a truly world class consumer brand. We hope to have a long association with the agency.”

Kartik Sharma, managing partner, Maxus, adds, “We are delighted to come on board as an AoR for Ruchi Soya. Working with one of the leading FMCG companies in India, with a turnover of over Rs 26,000 crore, is truly a great opportunity. We hope to partner with the company on their ambitious expansion journey.”

For the record, Maxus India was retained as the AoR for L’Oreal and the agency won several new businesses including Tata Tea, redBus and Musafir.com in 2013. Ruchi Group has secured access to oil palm plantations in India and other key regions of the world. Ruchi Soya is also one of the highest exporters of soya meal, lecithin and other food ingredients from India.

MORE LINKS:

CBI gives SC Aditya Birla diary showing payments made to politicians
JVM MP writes to PM, seeks CBI probe
Advance tax collections fall in December quarter
Kingfisher assets attached on tax default amounting to Rs 350 crore
Kuwait May Impose Corporate Income Tax on National Companies
Kuwait proposes corporate income tax on local firms
NRIs have to pay tax on income from investments in India

by

Ruchi Soya and RF Solutions take the lead on sustainable soy from India

India’s largest Soy processing Company, Ruchi Soya Industries Limited (Ruchi Soya) is proud to announce its Sustainability Verification Programme during the important and prestigious 2013 edition of the Food Ingredients Europe Exhibition. Ruchi Soya and its exclusive European marketing company RF Solutions, have teamed up with ProTerra Foundation and Solidaridad to engage in this initiative towards long term sustainability in Soy. Mr. Sarvesh Shahra, Business Head, Food and Specialty Products Division said, “The market is clearly shifting towards sustainability and is demanding sustainably produced agricultural products.

Ruchi Group is working closely with the famers in India for the past three decades. This is the right time for Ruchi Soya to take the lead in developing India’s first long term sustainability program and offer its customers a completely integrated solution. The European Union is a key and priority market for Non-GM Soy products. Along with RF Solutions, Ruchi Soya will now provide its customers, the right  solutions for sustainability and meet all the future demands from India.

This initiative will help brighten the lives of millions of farmers across India and farmer livelihood development has always been at the core of Soya’s corporate philosophy. Ruchi Soya is proud to be a partner in this initiative, our commitment to Non-GM foods is reiterated with this global alliance.”

With a proven track record on sustainability programmes in Brazil, Canada and France, The ProTerra
Foundation is a valuable partner of the validation programme. Solidaridad has been working for many years in assisting farmers with sustainable practices and has been developing farmer programmes in India now for about 5 years. The programme’s starting point is the purchase of 12,000 RTRS credits followed in the near future through the purchase of 12,000 MT of certified beans. This will help over 10,000 certified farmers in the programme and additional 20,000 farmers who are improving their practices to become certified.

The sale of certified non-GMO lecithin and soya meal shall gradually increase in the coming years under the programme. Meanwhile, Solidaridad plans to increase the farmer training programme to reach 70,000 farmers in the coming 2-3 years in India. The certification of groups of farmers and the verification work under the ProTerra Standard will be carried out by Cert ID, a company that has been in the Indian Non-GMO market for over 10 years. The values estimated for buying the soya beans in India and for fostering the sustainability programme will be acquired and paid to the stakeholders in the programme through the sale of products under Chain of Custody Certificates in Europe. This will enable Ruchi Soya to buy the beans physically from the farmers who are participating in the programme, but most importantly, contribute to improving their livelihood and well being.

MORE LINKS:

Just 2/250: Ruchi Soya, ITC fastest homegrowns
Ruchi Soya Industries Ltd (RCSY.BO)Ruchi Soya Industries Ltd
Ruchi Tax Consultancy
Ruchi Soya net jumps over 2-fold to Rs 78.6 cr
Details of PAN and status of Income Tax return
Ruchi Soya Q4 net profit zooms over 2-fold to Rs 78.6 cr
Ruchi Khurrana
Ruchi Saini

by

Ruchi Soya joins hands with GAIN and CECOEDECON for the Fortification of Mahakosh Soyabean Oil with Vitamin A and D

India’s share in the global M&A is increasing significantly. Baring 2009, the Indian M&A market it has growth anywhere between USD 45-55 billion. From where we were around 0.5% five years back, today we are almost close to 1.5-1.7% of the global M&A market which itself is growing at a rapid pace.

Ruchi Group of Industries, which recently launched margarine, is planning to introduce more healthy options of edible oils in future, Dinesh 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, Dinesh Shahra 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. Ruchi Soya stock price On December 10, 2013, at 10:13 hrs Ruchi Soya Industries was quoting at Rs 34.25, up Rs 3.40, or 11.02 percent.

MORE LINKS:

Just 2/250: Ruchi Soya, ITC fastest homegrowns
Ruchi Soya Industries Ltd (RCSY.BO)Ruchi Soya Industries Ltd
Ruchi Tax Consultancy
Ruchi Soya net jumps over 2-fold to Rs 78.6 cr
Details of PAN and status of Income Tax return
Ruchi Soya Q4 net profit zooms over 2-fold to Rs 78.6 cr
Ruchi Khurrana
Ruchi Saini

by

Ankesh Shahra of Ruchi Soya receives CSR Award for Community Development at Global CSR Congress

Image Ruchi Soya Industries Limited (Ruchi Soya) has been Felicitated with the CSR Award for Community Development during the World CSR Congress.  Mr. Ankesh Shahra who manages the international businesses of Ruchi Soya and participates in the CSR activities of the Company was honoured with the felicitation at a glittering event in Mumbai. Dr. Christoph Stueckelberger, Executive Director and Founder of Globethics and Dr. Bhaskar Chatterjee, Director General & CEO, Indian Institute of Corporate  affairs handed over the trophy and citation to Mr. Ankesh Shahra.

Commenting on the occasion, Mr. Ankesh Shahra stated, “I am very grateful to the World CSR Congress for honouring Ruchi Soya with the award for Community Development. Ruchi believes in sharing its growth with every stakeholder and giving back to the society in a sustainable and transparent manner. A big congratulations to the team.”

Featuring among the top five FMCG players in India, Ruchi Soya is India’s number one cooking oil maker and marketer through popular brands like Nutrela, Ruchi Gold, Mahakosh and Sunrich. Ruchi Group is working closely with the communities around its plants in Patalganga and Nagpur in Maharashtra. Ruchi Soya believes in the concept of ‘Giving back to the Society’. The corporate social initiatives of Ruchi Group are executed through Shri Mahadeo Shahra Sukrat Trust with the focus on three core areas of Health, Education and Women Empowerment.

An Integrated player from farm to fork, RSIL has secured access to oil palm plantations in India and other important parts of the world. Besides being a leading manufacturer of high quality edible oils, soya foods, vanaspati, and bakery fats, Ruchi Soya is also the highest exporter of soya meal, lecithin and other food ingredients from India. Ruchi Soya is committed to renewable energy and exploring suitable opportunities in the sector.

MORE LINKS:

CBI gives SC Aditya Birla diary showing payments made to politicians
JVM MP writes to PM, seeks CBI probe
Advance tax collections fall in December quarter
Kingfisher assets attached on tax default amounting to Rs 350 crore
Kuwait May Impose Corporate Income Tax on National Companies
Kuwait proposes corporate income tax on local firms
NRIs have to pay tax on income from investments in India

by

Just 2/250: Ruchi Soya, ITC fastest homegrowns

Only two home-grown Indian companies — Ruchi Soya & ITC — have made it to the top 250 consumer companies in the world, says a survey by Deloitte titled ‘Global Powers of the Consumer Products Industry 2013’.

While Ruchi Soya has been ranked at 121, ITC stands at 150. For Ruchi Soya that manufactures edible oil and soybean products, it’s an improvement of 54 positions, Last year, the company stood at 175. On the other hand, cigarette and consumer goods maker, ITC has slipped by seven position in this year’s ranking.

If we look at the list of 50 fastest growing company in the world, Ruchi Soya has been ranked at 13, followed by ITC at 39.

While Ruchi Soya has recorded a 66% growth in sales in 2011-12, ITC’s net sales jumped 17.5% in the same period.

This is based on a survey by Deloitte on the data available till June 2012. For a company to make it to the list of top 250 consumer product companies, it has to have a minimum sale of Rs16,600 crore and has to register at least a 7% growth in sales on a yearly basis.

The report points out that as sales in the other established markets are taking a beating, companies from the emerging markets have started taking the lead in the fastest growing company in the world and going forward, this trend is likely to continue.

Dinesh Shahra, managing director of Ruchi Soya, said, “Improved branded sales, better sales realisation of oilseed extraction, effective control on the costs and favourable business sentiment helped us to get better performance in the past one year. We are making our efforts to have good performance on a sustained basis in the times to come.”

An ITC spokesperson said: “ITC’s aspiration to be the No. 1 in the FMCG sector in its new consumer goods businesses is supported by its relentless effort to build world-class brands that create, capture and retain value in India. These brands have earned significant consumer franchise and in addition, we are looking at enhancing the competitiveness of the entire value chain.”

 

More Links:

NSEL scam: Enforcement Directorate to attach more assetsEnforcement Directorate attaches Rs 75 cr assets in NSEL scam case
Enforcement Directorate seizes 16 watches worth Rs 44 lakh
Activist’s murder: CBI raids infra firm in Pune
Coal scam: CBI registers two new cases against private companies
CBI raids Janardhana Reddy’s associates’ residence
CBI conducts raids in connection with horse-trading allegation in Jharkhand Rajya Sabha elections
Enforcement Directorate joins 2G probe
Enforcement Directorate may quiz Bathinda IG, Youth Cong leader for Kandola ‘links’Income Tax department keeping an eye on Narendra Modi’s rally
Income Tax department puts HRA exemption under scanner

by

Ankesh Shahra the flag bearer of Ruchi group

A young dynamic entrepreneur is all set to the charge the business world, with his fresh attitude and strategic knowledge the company is set to ride to success. Ankesh Shahra is currently based in Singapore and managing the international businesses for Ruchi Soya. It includes establishing a cross-commodity global trading platform headquartered in Singapore

His work in business world is highly appreciated and lauded which bagged him the prestigious Globoil Global Young Entrepreneur Award which he received from Member of Parliament and lawyer Ram Jethmalani. He has also has been invited to attend the Rabo Bank Food & Agribusiness Advisory Board Meeting that was held in Hong Kong.

He dons the role of Director, Business Development for Ruchi Agritrading Pte Ltd.
Ankesh has a background in Finance, Economics and International Trade and represents the third generation of the Shahra family that started the business conglomerate Ruchi Group. With his distinctive attributes and rich pedigree he is set to take the business in great space.

The Group has business interests across the sectors ranging from Edible oil, Soya foods, Steel, Dairy, Featuring among the top five FMCG players in India; Ruchi Soya Industries is the flagship company of Ruchi Group of Industries. A leading manufacturer of high-quality edible oils, soya food, vanaspati and bakery fats, it is also the highest exporter of soya meal, lecithin and other food ingredients from India. Established in 1986, it is the largest producer and marketer of vegetable oils and soya food, the largest oilseed crusher and edible oil refiner, the largest importer of vegetable oil and the largest exporter of soya derivatives from India. Ruchi Soya has also diversified into Renewable Energy and Plantations in the recent past.

Ankesh Shahra’s ideology is to work towards renewing, to reinterpret and reaffirm Ruchi Soya’s backwards integration strategy into agricultural plantations in Asia and Africa

His stance towards Food security is indeed a prevalent concern, he stresses upon the on three pillars Food security is built upon
* Food availability: sufficient quantities of food available on a consistent basis.
* Food access: having sufficient resources to obtain appropriate foods for a nutritious diet.
* Food use: appropriate use based on knowledge of basic nutrition and care, as well as adequate water and sanitation.

That enables the group to introspect and look ahead, to clarify and consolidate company’s positions as top FMCG players in India.

MORE LINKS:

Just 2/250: Ruchi Soya, ITC fastest homegrowns
Ruchi Soya Industries Ltd (RCSY.BO)Ruchi Soya Industries Ltd
Ruchi Tax Consultancy
Ruchi Soya net jumps over 2-fold to Rs 78.6 cr
Details of PAN and status of Income Tax return
Ruchi Soya Q4 net profit zooms over 2-fold to Rs 78.6 cr
Ruchi Khurrana
Ruchi Saini