LIC Increases Stake in Edible Oil Refiner Patanjali Foods

On November 26, 2024, Life Insurance Corporation of India (LIC), India’s leading insurance company, announced through an exchange filing that it had increased its stake in Patanjali Foods to 5.02%. This increase was achieved through the purchase of shares via open market operations. The government-owned insurer’s holding rose by 0.034% from its previous stake of 4.986%.

LIC acquired 125,000 equity shares of Patanjali Foods through an open market purchase. The shares were purchased at an average price of ₹1,764.96 each. Following this transaction, LIC’s total equity holding in Patanjali Foods increased from 1,80,48,377 shares to 1,81,73,377 shares.

About Patanjali Foods

Patanjali Foods Ltd is a prominent fast-moving consumer goods (FMCG) company that specializes in processing oil seeds and refining oil for edible use. The company’s product portfolio extends beyond edible oils, including food products and a range of FMCG offerings.

Patanjali Foods’ Financial Performance

Patanjali Foods reported a significant year-on-year (YoY) increase of 21.4% in its net profit for the second quarter of the financial year 2024-25, reaching ₹309 crore. In the same quarter of the previous fiscal year, the company posted a net profit of ₹254.5 crore.

The company’s revenue from operations also saw a 4.2% increase, rising to ₹8,154.2 crore compared to ₹7,821.9 crore in the previous year’s corresponding period. Furthermore, Patanjali Foods’ earnings before interest, taxes, depreciation, and amortization (EBITDA) surged by 13.8% YoY, reaching ₹449.6 crore for the second quarter, up from ₹395.2 crore in the previous year.

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