Patanjali is working on stock dilution to achieve minimum public participation

wealth desk

To buy to sell Patanjali Foods to share

Patanjali Foods Limited (PFL) announced its operating financial results for the quarter and a half that ended September 30, 2022. During the quarter, the company said it had successfully completed the acquisition of the Foods business in accordance with a strategic intent. to develop the food business.

Speaking to CNBC-TV18 after the earnings report, Sanjeev Asthana, the company’s CEO, said it was actively working on stock dilution to achieve minimal public participation.

“We are still 19% with the market and to maintain a public company we need to dilute another 6%. So this work is actively continuing.

While talking about growth, Asthana said the goal was to grow the food portfolio to 25% of sales and 50% of profits. The company also expects a strong third and fourth quarter for its oil business.

The company recently invested heavily in the palm oil sector by planting trees on 60,000 hectares.

“We will continue to grow, each year, 10% in the business for the next two years, and after that you will see a sudden spike for the next 5 years,” management said.

For more details, watch the attached video

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(Edited by : Abhishek Jha)

First post: STI

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