NEW DELHI: Patanjali Ayurved, promoted by yoga instructor and promoter Ramdev aims to record a turnover of Rs 10,000 crore during the financial year 2016-17, and will invest over Rs 1,150 crore to set up six processing units and one R&D centre.
The domestic FMCG firm also challenged the multinational firms like Unilever, Nestle, P&G and Hindustan Unilever the established players in fast moving consumer goods (FMCG) segment in India. The company is confident that its network of over 4,000 distributors, 10,000 stores and 100 Patanjali mega marts pan India, will help achieve its target.
The company’s ambitious plan includes distributing its products globally in the international market. “Patanjali is an International brand,” Ramdev who promoted Patanjali told reporters on Tuesday. Patanjali will also enter new categories like dairy, animal feed and khadi garments for yoga. “We will enter dairy segment this year with the launch of milk, cheese, butter milk and paneer.”
When asked about the source of funds, he said: “Banks are more than willing to give loans to us. We have no shortage of funds to expand. We are a debt-free company.”