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On Tuesday, the edible oil producer Ruchi Soya Industries Ltd announced that as of June 24 its name has changed to Patanjali Foods Ltd.

In a regulatory filing today, Patanjali Foods informed that “Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we may inform you that we have received an email dated June 27, 2022 from Ministry or Corporate Affairs mentioning that a fresh “Certificate of Incorporation pursuant to change of name" dated June 24, 2022 was issued by the Registrar of Companies, Maharashtra, Mumbai (copy enclosed). Kindly note that the name of the Company stands changed from “RUCHI SOYA INDUSTRIES LIMITED" to “PATANJALI FOODS LIMITED with effect from June 24, 2022. The Company is filing the required documents in respect of the change of name to Stock Exchanges separately."

Ruchi Soya was acquired by Baba Ramdev-led Patanjali Ayurved for 4,350 crore through an insolvency procedure in 2019. As part of its goal to concentrate on non-food, traditional medicine, and wellness business, Patanjali Ayurved Ltd divested its food retail business to group company Ruchi Soya Industries Ltd last month for 690 crore. Through its follow-on public offer (FPO), Ruchi Soya recently collected 4,300 crore, mostly to clear its liabilities. 

As compared to the same quarter a year prior, Ruchi Soya Industries Ltd.'s standalone net profit fell by 25% to Rs. 234.33 crore for the month of March 2022. In the fourth quarter, the company's total revenue increased to 6,676.19 crore from 4,859.5 crore in the same quarter of the previous year. In 2021–2022, net profit grew from Rs. 680.77 crore to Rs. 806.3 crore. In FY 21-22, total income increased to 24,284.38 crore from 16,382.97 crore in 2020–21.

Under names including Ruchi Gold, Mahakosh, Sunrich, Nutrela, Ruchi Star, and Ruchi Sunlight, Ruchi Soya distributes its goods. It also engages in the production of sustainable wind energy and oil palm plantations.

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