Ruchi Soya Industries Ltd, one of the leading edible oil manufacturers in India, is set to be renamed as Patanjali Foods Company after the board’s approval. This move is expected to boost the brand value of Patanjali Ayurved Ltd, the company behind Patanjali Foods.
The decision to rename Ruchi Soya Industries Ltd came after Patanjali Ayurved Ltd acquired a majority stake in the company in 2019. Ruchi Soya Industries Ltd is now a subsidiary of Patanjali Ayurved Ltd.
Patanjali Ayurved Ltd was founded in 2006 by Baba Ramdev and Acharya Balkrishna with the aim of promoting Ayurvedic products and natural food. The company has rapidly grown since then and has become one of the leading FMCG companies in India.
The acquisition of Ruchi Soya Industries Ltd was a significant move for Patanjali Ayurved Ltd, as it enabled the company to expand its reach in the edible oil market. Ruchi Soya Industries Ltd is a leading player in the edible oil segment in India, with popular brands like Nutrela, Sunrich, and Mahakosh.
The renaming of Ruchi Soya Industries Ltd to Patanjali Foods Company is in line with Patanjali Ayurved Ltd’s strategy to consolidate its brand identity and increase its market share. The move is also expected to help the company in leveraging the brand equity of Patanjali Ayurved Ltd, which is known for its Ayurvedic products and natural food.
The approval for the name change was granted by the board of Ruchi Soya Industries Ltd in its meeting held on April 20, 2023. The stock market has already reacted positively to the news, with the stock price of Ruchi Soya Industries Ltd surging by 10% in a single day.
The renaming of Ruchi Soya Industries Ltd is expected to bring several benefits for Patanjali Ayurved Ltd. Firstly, it will help the company in consolidating its brand identity and positioning itself as a leading player in the FMCG sector in India. Secondly, it will help in creating a strong brand recall for Patanjali Foods Company, which will drive sales and revenue growth for the company.
Moreover, the move will also help in improving the overall perception of the company in the eyes of consumers. The Patanjali brand has always been associated with natural and Ayurvedic products, and the renaming of Ruchi Soya Industries Ltd to Patanjali Foods Company will reinforce this association.
Patanjali Ayurved Ltd has been on an expansion spree in recent years, and the renaming of Ruchi Soya Industries Ltd is just one of the many strategic moves made by the company. The company has also been actively acquiring other FMCG companies in India to expand its product portfolio.
In 2021, Patanjali Ayurved Ltd acquired a controlling stake in India’s largest rice company, Haryana Rice Mills. The acquisition helped the company in entering the rice segment and diversifying its product portfolio.
Patanjali Ayurved Ltd has also been expanding its retail network in India. The company already has a significant presence in the country, with over 10,000 retail outlets. However, it plans to open more retail outlets in the coming years and increase its reach in the rural areas of India.
In conclusion, the renaming of Ruchi Soya Industries Ltd to Patanjali Foods Company is a significant move for Patanjali Ayurved Ltd, and it is expected to bring several benefits for the company. The move will help in consolidating the brand identity of Patanjali Ayurved Ltd and positioning the company as a leading player in the FMCG sector in India. Moreover, it will also help in creating a strong brand recall for Patanjali Foods Company and
In conclusion, the renaming of Ruchi Soya Industries Ltd to Patanjali Foods Company is a strategic move by Patanjali Ayurved Ltd to consolidate its brand identity and increase its market share in the FMCG sector in India. The move is expected to bring several benefits for the company, including improving its overall perception in the eyes of consumers and driving sales and revenue growth.
FAQs:
- What is the reason behind the renaming of Ruchi Soya Industries Ltd to Patanjali Foods Company? The renaming of Ruchi Soya Industries Ltd to Patanjali Foods Company is in line with Patanjali Ayurved Ltd’s strategy to consolidate its brand identity and increase its market share in the FMCG sector in India. The move is expected to help the company in leveraging the brand equity of Patanjali Ayurved Ltd, which is known for its Ayurvedic products and natural food.
- What are the benefits of the renaming of Ruchi Soya Industries Ltd to Patanjali Foods Company for Patanjali Ayurved Ltd? The renaming of Ruchi Soya Industries Ltd to Patanjali Foods Company is expected to bring several benefits for Patanjali Ayurved Ltd. It will help in consolidating the brand identity of Patanjali Ayurved Ltd and positioning the company as a leading player in the FMCG sector in India. Moreover, it will also help in creating a strong brand recall for Patanjali Foods Company, which will drive sales and revenue growth for the company.
What other strategic moves has Patanjali Ayurved Ltd made in recent years? Patanjali Ayurved Ltd has been on an expansion spree in recent years, and it has made several strategic moves to expand its product portfolio and retail network in India. The company has been acquiring other FMCG companies in India, such as Haryana Rice Mills, to diversify its product portfolio. Moreover, the company plans to open more retail outlets in the coming years to increase its reach in the rural areas of India.
