March 24, 2023

Disha Shakti News

New Hopes New Visions

“Patanjali to employ five lakh people in the next five years for edible oil production”- Baba Ramdev

Patanjali’s group companies have crossed the Rs 30,000 crore mark in revenues in the financial year 2021, and has big plans for expanding its edible oil vertical via the recently acquired firm Ruchi Soya and deepening its research on ayurveda products over the next five years, the company’s founder Baba Ramdev said on Tuesday.

“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 pre cent revenue growth in FY21, taking it to Rs 16,318 crore” Ramdev said.

Patanjali Ayurved’s turnover stood at Rs 9,783.81 crore, Patanjali Agro at Rs 1,600 crore, Divya Pharmacy at Rs 850 crore, Patanjali Parivahan at Rs 548 crore, Patanjali Gramodhyog at Rs 396 crore and Patanjali Natural Biscuit at Rs 65 crore, for FY21.

Ramdev added that currently the only FMCG company in its league is Hindustan Unilever (HUL) and that he believes that the company is well on its way to beat HUL by 2025. In FY21, HUL clocked in a turnover of Rs 45,311 crore.

The company also plans to expand its edible oil manufacturing vertical with an aim to reduce imports for India. “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.

“We will be investing a total of Rs 5,000 to Rs 10,000 crore in by 2025. To raise these funds we will soon share further information on demergers and any listing plans,” added Ramdev on the investments required for the company’s expansion plans and for deepening research and development. Speaking on debt reduction, Ramdev’s aide Acharya Balkrishnan said that the company aims to be debt free in the next three to four years.

Group company Ruchi Soya filed documents with the Securities and Exchange Board of India (SEBI) in June for a Follow-on Public Offer (FPO) of Rs 4,300 crore, a part of which will be used for paring the company’s Rs 3,300 crore debt.

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