Baba Ramdev's Patanjali group is aiming at ₹25,000 crore revenue this fiscal1 min read . Updated: 24 Jan 2020, 03:09 PM IST
- Patanjali, which has acquired Ruchi Soya is looking to expand its product line
- Patanjali is also aiming to become the country's largest FMCG company in coming years
New Delhi: Haridwar-based Patanjali group, which has acquired debt-ridden Ruchi Soya, is expecting ₹25,000 crore turnover this fiscal, and aims to become the country's largest FMCG company in coming years, Yoga Guru Ramdev said on Friday.
The company will register a joint turnover of ₹25,000 crore in the current fiscal ending March 2020, in which around ₹12,000 crore would be contributed by Patanjali group firms and ₹13,000 crore will come from Ruchi Soya, he said.
"In next five years, we would have a turnover of around ₹50,000 crore to ₹1 lakh crore and will become the largest FMCG company, replacing HUL," Ramdev said.
Patanjali, which acquired Ruchi Soya in an Corporate Insolvency Resolution for around ₹4,500 crore, is also looking to expand its product line.
"We will launch three new products under Nutrela brand targeting the health conscious people, targeting the people suffering from diseases such as heart, cholesterol and high blood pressure," he said.
These products will include premium Oil Nutrela Gold, Nutrela Honey and Nutrela Protein Atta.
"We are expecting three times growth from Ruchi Soya in coming years," Ramdev said, adding it will also lessen burden of import of edible oil from other countries and make India self dependent in this sector.
Patanjali will also coninue to have Bollywood actress Madhuri Dixit as the brand ambassador for Ruchi Soya's Mahakosh range of products.
HUL, a market leader in the FMCG segment had reported a revenue of over ₹38,000 crore in FY 2018-19 and this is expected to go up further with the merger with GSK Healthcare business.
Ramdev also said that over the next two years, 25% shares of Ruchi Soya will have to be liquidated as per Securities and Exchange Board of India (Sebi) guidelines.
Commenting on the acquisition, Ramdev said the products of Ruchi Soya would not clash with Patanjali's product and add value to the customers.
With Ruchi Soya, it also aims to double its reach in next five years to 50 crore people from the existing 25 crore.
"We have target to expand our reach to 50 crore people in next five years," he said.
This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.