- Patanjali group, which has acquired debt-ridden Ruchi Soya, expects this fiscal turnover of Rs 25,000 crore and aims to become the largest FMCG company in the country
Haridwar-based Patanjali group, which has acquired debt-ridden Ruchi Soya, expects this fiscal turnover of Rs 25,000 crore, and aims to become the largest FMCG company in the country in the coming years, Yoga Guru Ramdev said on Friday.
The company would report a joint Rs 25,000 crore turnover in the current fiscal end of March 2020, in which Patanjali group firms will contribute about Rs 12,000 crore, and Rs 13,000 crore would come from Ruchi Soya, he said.
“We’d have a turnover of about Rs 50,000 crore to Rs 1 lakh crore in the next five years and become the largest FMCG group, replacing HULNSE 0.82 percent,” Ramdev said.
Patanjali, who purchased Ruchi Soya for around Rs 4,500 crore in a corporate insolvency resolution, is also looking to expand its product line.
“Under the Nutrela brand, we’re going to launch three new products targeting health-conscious people, targeting people with heart disease, cholesterol, and high blood pressure,” he said.
These will include premium Oil Nutrela Gold, Nutrela Honey, and Nutrela Protein Atta products.
“We expect Ruchi Soya to rise three times in the coming years,” said Ramdev, adding that it will also reduce the burden of importing edible oil from other countries, and make India self-dependent in this field.
Even Patanjali will continue to have Bollywood actress Madhuri Dixit as the brand ambassador for the Mahakosh product range from Ruchi Soya.
HUL, a market leader in the FMCG industry, posted sales in excess of Rs 38,000 crore in FY 2018-19 and this is expected to increase further with the merger with GSK Healthcare.
Ramdev also said that 25 percent of Ruchi Soya’s shares will have to be liquidated over the next two years as set out in India’s Securities and Exchange Board (Sebi) guidelines.
Commenting on the acquisition, Ramdev said Ruchi Soya’s products would not come into conflict with Patanjali’s company and add value to customers.
With Ruchi Soya, it also aims to double its reach in the next five years to 50 crore people from the existing 25 crores.
“We have a target to expand our reach to 50 crore people in the next five years,” he said.