Co-founded by yoga guru Ramdev, Patanjali is planning to double its revenue base to Rs. 20,000 crore by the next financial year.
Patanjali Ayurved, which is co-founded by yoga guru Ramdev, is planning to double its revenue base to Rs. 20,000 crore by the next financial year. For the just-concluded financial year, which ended on March 31 this year, Haridwar-based FMCG company Patanjali Ayurved clocked a turnover of Rs. 10,561 crore. “We would grow more than double this year… By next year, Patanjali would be in the leading position and in most of the product categories, it would be number one,” Ramdev said.
Elaborating on how Patanjali Ayurved plans to double its sales in the year ahead, Acharya Balkrishna, MD and CEO of Patanjali Ayurved, told NDTV, “The company has opened production units at 2-3 places and going ahead, 3-4 production units will come up this year…we will definitely achieve our target of sales of Rs. 20,000 crore.”
Patanjali Ayurved is also setting up a facility to cater to exports.
Mr Balkrishna said, “In Nagpur, construction of production facility is underway in the Special Economic Zone (SEZ) which will cater to exports. Like doubts on ‘swadeshi’ products have been eradicated here in India, the same way doubts surrounding ‘swadeshi’ products among foreigners will also be eradicated.”
Meanwhile, Patanjali is working on a model to sell its products through e-commerce as well.
“We have done research on e-commerce model and there are some practical problems for FMCG products, we have solved some problem and planning is underway, in coming time if these problems get solved we will go in for e-commerce model as well,” said the Patanjali CEO, who debuted on Forbes magazine’s ‘100 Richest Indians’ list last year.
Allaying concerns of industry experts that FMCG industry is growing at a slower pace after demonetisation, Mr Balkrishna said, “There has not been any impact on our sales rather our sales have increased. When there is shortage of liquidity in the system people tend to spend money on necessary items and people have liked Patanjali as our sales have increased and people think that our products useful.”