Patanjali’s FY17 turnover up 111% to Rs 10,561 crorehttps://indianexpress.com/article/business/companies/ramdev-patanjalis-fy17-turnover-up-111-to-rs-10561-crore-4641082/

Patanjali’s FY17 turnover up 111% to Rs 10,561 crore

Baba Ramdev said Patanjali is planning to open restaurants that will challenge established multinational food chains like McDonald’s, KFC and Subway.

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In 2015-16, Patanjali group’s turnover had grown by 150 per cent to Rs 5,000 crore. (Source: PTI Photo)

Baba Ramdev-led Patanjali group on Thursday announced 111 per cent rise in turnover to Rs 10,561 crore in 2016-17. The FMCG firm said it will double the annual production capacity and number of distributors this year to “become biggest swadeshi brand within one to two years”.

In the FY17 turnover, the share of Patanjali Ayurved, Divya Pharmacy and Patanjali Gramodhyog is Rs 9,346 crore, Rs 870 crore and Rs 345 crore, respectively. In 2015-16, Patanjali group’s turnover had grown by 150 per cent to Rs 5,000 crore.

Baba Ramdev said that the firm is planning to open restaurants that will challenge established multinational food chains like McDonald’s, KFC and Subway. “We haven’t launched them. But we are working on this direction. In future, it will surely happen,” he said.

Last month, Canteen Stores Department (CSD), the retailing entity selling consumer goods to the armed forces, suspended the sale of a batch of Patanjali’s amla juice after it failed the test carried out at West Bengal Public Health Laboratory in Kolkata. On this matter, Ramdev said that there is no question from CSD now as it was due to some lack of information on their side.

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“You must know that there are no standards with Food Safety and Standards Authority of India (FSSAI) for amla juice. This juice is not a fruit juice. It comes in the category of medicine. We have not put any FSSAI label on amla juice. All other products have the logo of FSSAI. We are following the guidelines of AYUSH (Department of Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homoeopathy) which says that the TSS (total suspended solids) should be more than 8 per cent. Patanjali’s amla juice has 8.5 per cent. There is no question from CSD now… CSD did not have full information and we have told them,” Ramdev clarified.

On the company’s expansion plans, Ramdev said that Patanjali group will increase the production capacity from Rs 30-35, 000 crore to more than Rs 60,000 crore next year. Moreover, the group will increase its number of distributors from 6,000 currently to 12,000 by the end of this year.