Updated: April 27, 2016 10:15:02 am
Patanjali Ayurved, the FMCG venture promoted by yoga guru Baba Ramdev, on Tuesday said that it had clocked a turnover of Rs 5,000 crore during FY16 and aims to double it to Rs 10,000 crore during the current fiscal. The Rs 5,000-crore revenue in FY16, which is a 150 per cent growth from a year earlier, is in line with estimates drawn up by some foreign brokerage firms that analysed the company’s products and business model.
While Patanjali declined to give numbers relating to its profits and margins, it said it will invest over Rs1,150 crore in the current fiscal to set up six processing and one R&D centre.
“We will invest Rs 1,000 crore to set up five to six processing units in various parts of the country. Apart from this, we will invest Rs 150 crore in research and development (R&D). We are looking at doubling our turnover to Rs 10,000 crore in the current fiscal,” Ramdev said.
The rise of Patanjali in a short time has been captured by analysts. “Indian consumers are returning to their roots and increasingly buying natural products,” Nomura wrote in its report released in February. FE
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