Patanjali Foods stock rises nearly 15% after FY2027 growth reaffirmation
Patanjali Foods's stock just enjoyed a four-session rally, rising nearly 15% after the company doubled down on its growth goals for fiscal 2027.
Even with this boost, shares are still down about 30% for the year, much more than the Nifty 50's 10.7% drop.
CEO Sanjeev Asthana is optimistic, expecting 18-20% growth in FMCG and steady gains in food and edible oils, but admits rural demand is lagging thanks to poor monsoons.
Patanjali Foods nets 86% profit rise
Urban demand is holding up well, especially with the festive season coming up.
Still, more than 90% of India's sunflower oil imports are currently stuck, making things tricky for the edible oils business.
Despite these bumps, Patanjali Foods managed an impressive 86% jump in net profit last quarter, proof that they're finding ways to grow even when times are tough.