New Delhi: Patanjali Ayurved is expecting 150 percent growth in 2016-17, reaching an over Rs.10,000 crore turnover in the current fiscal, its founder yoga guru Ramdev said on Tuesday.
“We are targeting to cross Rs.10,000 crore turnover in the current fiscal from Rs.5,000 crore in 2015-16. We will grow by 150 percent this year,” Ramdev told reporters at a press meet.
The company will be investing Rs.1,000 crore this year in setting up five to six new processing units of its various products in different states.
“We will set up five to six processing units in Assam, Maharashtra, Madhya Pradesh, Rajasthan, Haryana and Uttar Pradesh. Out of these, four will be fully functional within this year,” Acharya Balkrishna, managing director of the company, said.
From March 2012, when Ramdev announced his entry into the fast moving consumer goods and herbal retail markets with his 'swadeshi' line of products, the yoga guru today has emerged as one of India’s more successful brands in the otherwise less penetrated rural markets too as his 150-200 dedicated outlets in 2012 have grown to almost 4,000 now, prompting Ramdev to sell the FMCG range in the open market too.
Ramdev's products are 30 percent cheaper compared to products being sold by MNCs like Hindustan Lever and P&G.
From toothbrushes to night suits to breakfast cereals, Baba Ramdev has added a spiritual touch in each item up for sale thanks to his massive customer communities, and may just give FMCG firms a a run for their money.