Patanjali Foods shares drop 1% as FSSAI directs company to recall red chilli powder batch; all you need to know

The Food Safety and Standards Authority of India (FSSAI) issued an order in this regard on January 13, the company said in a regulatory filing.

The food safety regulator "has directed Patanjali Foods to initiate a recall of the entire batch of implicated food (i.e., Red Chilli Powder (packed) of Batch No. – AJD2400012 due to non-conformance of Food Safety and Standards (Contaminants, Toxins, and Residues) Regulations, 2011)," it said.

Incorporated in 1986, the Baba Ramdev-led Patanjali Ayurved group firm, Patanjali Foods (erstwhile Ruchi Soya), is one of India's top FMCG players.

The company is present in edible oils, food FMCG, and wind power generation sectors. It sells products under various brands like Patanjali, Ruchi Gold, Nutrela, etc.

Patanjali Foods posted a 21% increase in standalone net profit to ₹308.97 crore for the September quarter. Its net profit stood at ₹254.53 crore in the year-ago period.

Total income rose to ₹8,198.52 crore during the second quarter of this fiscal year from ₹7,845.79 crore in the year-ago period.

The mill will be set up at Liapha in south Mizoram's Lawngtlai district, and the company is hopeful the project will be completed in a year, the official added.

Patanjali Foods share price trend

Shares of Patanjali Foods have rallied nearly 16% to ₹1,839.80 apiece on the NSE.