Patanjali Ayurved, one of the leading players in the country’s FMCG space, has no plans to go public anytime soon as it is a charitable firm, said Baba Ramdev. Not only this, the homegrown firm would not even go for foreign equity, PTI reported citing Baba Ramdev who said this a couple of days back on the sideline of an event organised by FICCI Ladies Organisation, the women business wing of the trade body. “Patanjali will not allow foreign equity or go in for a public issue,” PTI reported him saying.
Patanjali Ayurved is now focussing more on agriculture and solar energy as these sectors hold a wide scope, he told PTI. The FMCG firm is also focussing on the agriculture and food processing space and plans to introduce many new products from the segment in the coming future. Patanjali is also promoting farmers in the country to go for organic farming.
Last month, Patanjali Ayurved entered the cow milk segment by launching cow milk and other dairy products at a slightly cheaper rate than the existing market leaders. The company also plans to launch its apparel brand ‘Paridhan’. “We are trying to open at least 100 stores before March 2019,” Ramdev said at the event.
Patanjali clocked a turnover of Rs 10,561 crore, registering a 111 percent growth in the 2016-17 financial year. However, last fiscal, the company’s growth was hit by the GST implementation, finishing around Rs 12,000 crore.
On being asked about the growth that Patanjali Ayurved eyes this year, Ramdev said:” We expect this year to be good.” “Rs 12,000 crore is a decent amount and we would grow forward from here. We are aiming to make Patanjali as one of the leading FMCG company globally,” Baba Ramdev told PTI.