Patanjali Foods Dividend of Rs 8: 4th November Record Date; Share Price Target?

One of the leading FMCG brands for healthy food and edible oils is Patanjali Foods. Patanjali Foods was founded in 1986 and has been providing food for Indian households for almost 40 years. Originally called Ruchi Soya Industries Ltd., Patanjali Foods is a worldwide fast-moving consumer products firm based in India that specialises in the food sector. In India, Patanjali Foods Limited processes oil seeds and refines crude oil for human use. The company is divided into three segments: Wind Power Generation, Food & FMCG, and Edible Oils.

Patanjali Foods Dividend

"Pursuant to Regulation 43 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 declared an Interim Dividend of Rs. 8/- (400%) per equity share of face value of Rs. 2/-each fully paid-up for the Financial Year 2024-25. The payment of the same will be made on or before November 23, 2024. Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, including amendments thereunder the Board of Directors of the Company has fixed Monday 4th November, 2024 as the "Record Date" to ascertain the name of the eligible shareholders / beneficial owners of the equity shares of the Company to whom the aforesaid interim dividend shall be payable," said Patanjali Foods in a stock exchange filing.

Patanjali Foods Financials

For the second quarter ending September 30, 2024, Patanjali Foods Ltd. recorded a net profit of Rs 309 crore, up 21.4% year on year (YoY). According to a regulatory filing, Patanjali Foods reported a net profit of Rs 254.5 crore for the corresponding quarter of the previous fiscal year. Revenue from operations increased 4.2% to Rs 8,154.2 crore in Q2FY25 from Rs 7,821.9 crore during the same period in the previous fiscal year. In the second quarter of the current fiscal year, EBITDA increased 13.8% YoY to Rs 449.6 crore from Rs 395.2 crore in Q2FY24. Compared to 5.1% during the same time last year, the EBITDA margin was 5.5% for the quarter under review.

Patanjali Foods Share Price Target

"Patanjali Foods stock price is bullish on the Daily charts with strong support at 1645. A Daily close above resistance of 1800 could lead to a target of 1920 in the near term," said A R Ramachandran, Independent Research Analyst.

Disclaimer

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