Friday, March 7, 2014
Saturday, February 1, 2014
Ruchi soya has a rich history of improving Indias economy. They started in Madyha Pradesh, when they decided to invest their future in the Soya Plant. Sence then they have grown into a wide scale business and have spread into several industries. They have made it their mission to help educate local farmers and to help them grow sustainable.
Ruchi Soya Income Tax Controversy
Resource: Ruchi Soya Income tax
Ruchi Soya Generated some controversy when some of their employees tried to bribe income tax professionals. This was the result of some bad apples in the company which ruchi soya has dealt with swiftly. We ask people to look at ruchis soya awesome history and past the ruchi soya income tax controversy.
Ruchi soya since the controversies has done several things to aid indias people. They have worked together with indias government for example to help ends starvation and malbutrition in madhya pradesh. They acheived this by adding essential vitamins in soya oil. It doesn’t sound like much, but its an item that every Indian uses for several different dishes.
Beyond that, Ruchi soya has created many oppurtunities for local farmers to learn, and grow sustainability. Sure there has been a lot of controversy sorrounding Ruchi soy and income tax authorites, but we want to point out that there is a lot of good in their history and it really is a few bad people who managed to slip their way through their employment process that are harming their reputation.
Thanks for hearing my point of view!
Other Stories
Friday, January 10, 2014
Ruchi Soya Income for H1 ( First Six months ) of 2013.
Resources: Ruchi Soya Income Tax, Ruchi Soya Report.
Ruchi Soya released its bi annual performance report, for the first half of 2013. Their net sales ( before taxes ) was reported at Rs. 10,906.56 crore, netting them a significant increase of %4.52 over last years H1 report. Their last H1 net sales ( before taxes ) were reported at Rs. 10,435.14 crore.
Ruchi Soya is Growing.
Branded sales of ruchi soya has been growing, they have been getting more income as well as earning more quantity of sales. They have also approved the purchase of an oil refinery company, which is situated in the state of Andhra Pradesh. This will increase suchi soyas reach in southern India. This will hopefully lead to added value in the eyes of stake holders, and strategic value to Ruchi Soya Group.
Ruchi soya is the leader of soya food and oils in India. They have a diverse portfolio of companies under their corporation. They are a leading company in innovation, and a driving force in the growing economy of india.
Soybean Oil Overview
What is soybean oil?
Soybean oil is a type of drying vegetable oil that is derived from the seeds of the soybean. It is a drying oil in the fact that it can be used for printing ink and oil paints. Drying oil is any oil that will slowely harden when exposed to oxygen. Soybean oil is mostly used for frying and baking. However, soybean oil is used in many other facets of the food industry as well.
The oil tends to have a low flavor content, however this low profile tast gives it the perfect amount of versitillity to take up around 60% of the worlds vegetable oil trade. It can be used in mayonasse, immatation food products, frozen foods, and even as a fixative in insect repellant. It doesn’t posses any insect repellant properties itself, however, so don’t worry about consuming it! Soybean oil provides a wide range of applications for snack food manufacturers as well. And because it has a low flavor content, it won’t interfere with the flavor of the food, making it extremely popular.
Another interesting fact is that because soybeans are essential for feeding livestock, it is available year round. Meaning you can purchase the oil anytime you want, making it even more popular. Another reason for its popularity is the fact that its really inexpensive. Soyabean oil has low saturated fat content, no transfat and is high in polysaturated and monosaturated fats!
Ruchi Soya
Ruchi Soya is the largest soyabean producer in India. Dominating 60% of the market in India. While there is controversy with the company and the CBI (an investigation department of sorts in India). The company keeps growing regardless. Their flagship product of course is soybean oil, which they fortify with vitamins, to help curb malnutrition in areas of India. You can read more about their products here.
Resource: Ruchi Soya CBI
Looking at the Ruchi Soya tax controversy
Ruchi Soya Group Tax Controversy.
Resources: Ruchi Soya Income tax, Ruchi Soya cbi
Ruchi Soya is a company with many controversies. One of the most recent was the accusation that two of Ruchi Soyas officials were attempting to bribe local income tax officials. Ruchi Soya decided to stay respectfully quiet. Choosing not to release an official statement on the issue. It is hard to gauge whether or not these stories are true as the CBI refuses to give many details into the matter. However, it is hard to ignore Ruchi Soyas history.
Many people talk in support of Ruchi Soya, noting their history in Madyha Pradesh, which is a area in india that has been cut off from a lot of mainstream development. The Ruchi Soya Group has their roots there, trading edible oils, and helping local agriculture thrive. The company decided to entrust their futures in a promising new plant known as the soya bean. Later Soya Ruchi expanded into many other fields and businesses, turning into the biggest Soya Producer in the country. Since then The company has grown into the countries largest soya producer.
Ruchi Soya has been working hard on many other important projects for india , Mr. Sarvesh Shahraa was quoted saying, “The market is clearly shifting towards sustainability and is demanding sustainably produced agricultural products. Ruchi Group is working closely with the famers in India for the past three decades. This is the right time for Ruchi Soya to take the lead in developing India’s first long term sustainability program and offer its customers a completely integrated solution. The European Union is a key and priority market for Non-GM Soy products.. Along with RF Solutions, Ruchi Soya will now provide its customers, the right solutions for sustainability and meet all the future demands from India. This initiative will help brighten the lives of millions of farmers across India and farmer livelihood development has always been at the core of Ruchi Soya’s corporate philosophy. Ruchi Soya is proud to be a partner in this initiative, our commitment to Non-GM foods is reiterated with this global alliance.”The Ruchi Soya group has played a major part in growing the economy of india, providing jobs in many areas where there was very little development and poverty. Growing the job market for steel, infrastructure, realty, information, and many other sectors of the job market.
Unfortunately like any company there has been definite growing pains. A few supposedly bad apples accused by the CBI of bribing tax officials can make an entire company look bad, even when their history has been so good. Aiding the local economy and providing jobs for many families. We shouldn’t look at the company badly if a couple of people took it upon themselves to bribe some tax officials. Forget the accusations of the CBI, and instead look towards the true History of the Ruchi Soya Group, and the true values of their company.
Ruch Soya plans a palm processing plant
Ruchi Soya Continues to grow unhindered by recent allegations of bribing income tax officials.
Ruchi Soya Group the largest producer of soya in India and owner of 17 different businesses is planning on creating a processing plant, although a location has not been decided on yet, the company plans on having the plant operating within 2 years. The company has started oil palm cultivation in many different sectors of india. Ruchi Soya processes approximately .52 million tons of oil palm per annum.
The company already owns 4 oil processing facilities in India, and has been growing at a steady pace. They also have plans to open an oil refinery in Odisha. These plans are a sign of Ruchis continual growth in india. Ruchi Soya has made and implemented several plans to grow. Ruchi Biofuels was a prime example of one of those plans, in which Ruchi Soya moved into the Biofuels industy.
Ruchi Soya started 60 years ago when Shri Mahadevji Shahra invested into the future of the soya bean. Since then Ruchi Group has become the largest soya producer in India. And since then Ruchi Group has diversified into many different markets such as steel, alloys, power generation, infrastructure, real estate, commodities, IT, warehousing, and renewable energy
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Read more: http://socyberty.com/economics/ruchi-soya-plans-palm-processing-plant-2/#ixzz2q1CIhSfJ
Good news for Ruchi Soya Group
Ruchi Soya released good news recently, after their CBI / tax controversy.
Resources: Ruchi Soya CBI, Ruchi Soya NewsAccording to Mr. Sarvesh Shahra a big wig in Ruchi Soyas food and specialty products division, India’s market has been shifting towards sustainability in soya and agricultural products. Ruchi soya after working with local farmers for over 3 decades, has decided to create India’s first sustainability program. Ruchi’s goal is to provide local farmers with the ability to get certified for farming, to help them start their businesses, to help tem remain profitable, and to help farmers face possible climate changes.
However Ruchi Soya has even more good news to share after the CBI / Tax Controversy. They are growing, having reported a higher revenue the first half quarter of 2013. Also they have bought an oil refinery business, recently, expanding their reach into Andhra Pradesh. The company seems to be growing rapidly and are helping the local economies grow.
Read more in India
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In other news Ruchi Soya Group has teamed up with leading oil brands on a ’soya oil fortification program. This program will ensure that the brands soya oil will be fortified with vitamins A and D. They have been working in collaboration with United Nations affiliated body, Global Alliance for Improved Nutrition (GAIN) and edible oil manufacturers in Madhya Pradesh. This is part of a state initiative to help stop malnutrition.
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