Life Insurance Corporation of India (LIC) has increased its stake in Patanjali Foods, which is primarily engaged in the processing of oilseeds and the refining of edible oil, by about 2% through the open market.
The insurance behemoth disclosed in a regulatory filing today that it bought 73 lakh shares of Patanjali Foods, acquiring shares between November 25, 2024, and March 4, 2025. As a result of this transaction, LIC’s overall stake in the company crossed 7%, reaching 7.06%.
At the end of the December quarter, promoters held a 69.95% stake in the company, while FIIs and DIIs owned 13.3% and 6.3%, respectively. The remaining 10.3% was held by general public shareholders.
Baba Ramdev-led Patanjali Ayurveda, an Indian consumer goods company, acquired Ruchi Soya Industries in 2019 and renamed it as Patanjali Foods. In January 2020, Ruchi Soya shares (now Patanjali Foods) were relisted.
For the December quarter (Q3FY25), the company reported a 71% increase in the net profit to ₹371 crore, compared to a net profit of ₹217 crore in the corresponding quarter of last year. The company had recorded a net profit of ₹309 crore in the preceding quarter.
The revenue from operations during the quarter came in at ₹9,103 crore, an increase of 15% from ₹7,911 crore in Q3 FY24. While the operating profit jumped 57% YoY to ₹541 crore. On a QoQ basis, it was up by 20.5%. The EBITDA margin for the December quarter stood at 6%, up by 200 basis points as compared to 7% in Q3 FY24.
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