July 15, 2021: Patanjali crossed Rs 30000 crore in revenues in the financial year 2021, and founder Baba Ramdev said on Tuesday that the company has big plans for expanding its edible oil vertical via the recently acquired firm Ruchi Soya and is deepening its research on Ayurveda products over the next five years.
Patanjali crossed Rs 30000 crore in revenues
“We have crossed Rs 30,000 crore in turnover in FY21, that is our contribution to the growth of the Indian economy. Ruchi Soya which we acquired through the Insolvency and Bankruptcy Code (IBC) saw a 24.4 percent revenue growth in FY21, taking it to Rs 16,318 crore,” Ramdev said.
For FY21, Patanjali Ayurved had a turnover of Rs 9,783.81 crore, Patanjali Agro had a turnover of Rs 1,600 crore, Divya Pharmacy had a turnover of Rs 850 crore, Patanjali Parivahan had a turnover of Rs 548 crore, Patanjali Gramodhyog had a turnover of Rs 396 crore, and Patanjali Natural Biscuit had a turnover of Rs 65 crore.
Ramdev went on to say that Hindustan Unilever (HUL) is now the only FMCG firm in its league, but that the company is well on its way to beating HUL by 2025. HUL had a turnover of Rs 45,311 crore in FY21.
Future intentions of the brand
In addition, the company intends to grow its edible oil manufacturing sector in order to lessen India’s reliance on imports. “India needs to be self-reliant in the production of edible oils. Patanjali plans to employ five lakh people in the next five years for edible oil production,” Ramdev said.
“By 2025, we will have invested a total of Rs 5,000 to Rs 10,000 crore, and we will shortly disclose more information on demergers and any listing plans,” Ramdev said, referring to the finances needed for the company’s expansion ambitions and research and development.
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Patanjali crossed Rs 30000 crore in revenues, made the company debt free
Ramdev’s aide Acharya Balkrishnan stated that the company intends to be debt-free in the next three to four years when asked about debt reduction.
Ruchi Soya filed filings with the Securities and Exchange Board of India (SEBI) in June for a Rs 4,300 crore Follow-on Public Offer (FPO), with a portion of the proceeds going toward the company’s Rs 3,300 crore debt.
Ramdev explained, “40 percent of the FPO proceeds will be used for Ruchi Soya’s debt reduction. Our aim is to provide 20-25 per cent returns on investment to our shareholders and we hope to soon make Ruchi Soya a debt free company.”
The company intends to open more than 1 lakh wellness centres across the country. It has entered the Nutraceuticals & Wellness industry by launching 10 items in three categories: general nutrition, health nutrition, and sports nutrition, with another 15 to follow over the next 12 months.