Ruchi Soya to expand production capacity

Indian edible oil manufacturer Ruchi Soya Industries (RSIL) plans to expand its capacity by March 2012, as part of its strategy to achieve 20% growth in revenue and profit this fiscal.

RSIL managing director Dinesh Shahra said that the company has been growing 15-20% year-on-year in both revenue and profit and aims to maintain this tempo in the current fiscal too.

The expansion is set to enlarge the current production capacity of 2.1Mts by an additional 1Mt.

In fiscal 2011, the company reported a net profit of Rs2.01bn ($39.76m) on revenue of Rs167.92bn ($3.32bn).

The company, which mainly exports to Vietnam, Japan and Korea, will also explore new geographies such as China, the Mediterranean region and the Middle East; however the main focus will remain it’s biggest market, Asia.

The company exported 7 lakh tonnes during fiscal 2011, and aims to export 1.1Mt of edible oil this fiscal.