Patanjali looks to more than double turnover to Rs 1 trillion in five years | The Financial Express

Patanjali looks to more than double turnover to Rs 1 trillion in five years

He said the group plans to generate 0.5 million direct jobs by 2027. At present, it empolys 0.5 million directly and indirectly.

Patanjali looks to more than double turnover to Rs 1 trillion in five years
While Ramdev did not reveal which company’s IPO would happen first, he said the group is aiming to launch 1,000 IPD (inpatient department) and OPD (outpatient department) centres of Patanjali Wellness in the near term that will go up to one lakh by 2032. These will be opened in both India and abroad.

The Baba Ramdev-owned Patanjali Group is looking to more than double its turnover to`1 trillion from the present Rs 40,000 crore over the next five years.

In a press conference on Friday, Ramdev said the group will list four companies on the bourses over five years. “We are preparing to get five listed Patanjali group companies by floating four new IPOs in next five years. After Patanjali Foods, we are aiming to bring IPOs of our four other companies — Patanjali Ayurved, Patanjali Medicine, Patanjali Wellness and Patanjali Lifestyle,” he said at a press conference.

He said the process for listing the companies is already in the works and the company will soon unveil its plan to achieve `5 trillion market value with these five companies.

While Ramdev did not reveal which company’s IPO would happen first, he said the group is aiming to launch 1,000 IPD (inpatient department) and OPD (outpatient department) centres of Patanjali Wellness in the near term that will go up to one lakh by 2032. These will be opened in both India and abroad.

Under Patanjali Foods (the erstwhile Ruchi Soya), the group will be looking to increase its palm plantation area from the current 0.15 million acres to over 1.5 million acres in the next few years, Ramdev said. “India currently spends over `3 trillion of foreign exchange on edible oil imports every year. In order to make India self-reliant on this front, we will have our own plantations. Once planted, oil palm tree gives return for the next forty years. From this, the target is to earn annual returns of about Rs 2,000 crore in the next five to seven years,” he said.

He said the group plans to generate 0.5 million direct jobs by 2027. At present, it empolys 0.5 million directly and indirectly.

In 2016, according to CLSA and HSBC, Patanjali was one of the fastest-growing FMCG companies in India. It was valued at Rs 3,000 crore. India Infoline (IIFL) had also said that at least 13 listed companies — Hindustan Unilever, Colgate, Dabur, ITC, and Godrej Consumer Products — would be affected by Patanjali’s success.

Also Read: JSW Ports retires Rs 862-crore high-cost debt 

The company competes with its products across the portfolio with top domestic and foreign brands by the leading FMCG players in the country.

In 2019, Patanjali Ayurveda bought Ruchi Soya for Rs 4,350 crore under the IBC process and subsequently renamed it Patanjali Foods. This company is already listed on the stock exchange. It sells products under brands like Ruchi Gold, Mahakosh, Sunrich, Nutrela, Ruchi Star and Ruchi Sunlight, which compete with Adani Wilmar, Emami Agrotech among others in the edible oil space. It is also in the oil palm plantations and renewable wind energy business.

For the full year ended March 30, 2022, Patanjali’s revenue increased nearly 9% to Rs 10,664.46 crore against Rs 9,810.74 crore in the previous financial year. However, net profit was marginally lower, by 0.6%, at Rs 740.38 crore against Rs 745.03 crore in FY21.

The company’s FMCG business revenue climbed to Rs 9,241.27 crore in FY22 against Rs 8,778.03 crore in FY21, while the ayurvedic products business rose to Rs 1,273.92 crore versus Rs 925.09 crore in FY21.

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.