NEW DELHI: Baba Ramdev-promoted Patanjali Group has set a target to achieve Rs 1 lakh crore turnover in the next five years and list at least four group firms.
According to Ramdev, the Group, at present, has a turnover of Rs 40,000 crore. “Many people mocked us and tried to bring us down when I said Patanjali's turnover would be Rs 20,000 crore a few years back. Now it is Rs 40,000 crore and we are confident that it will be Rs 1 lakh crore in the next five years,” Ramdev said.
Patanjali Group’s revenue got a boost after it acquired Ruchi Soya, which has now been renamed Patanjali Food, in 2019 through a corporate insolvency resolution process. Ruchi Soya reported Rs 24,205 crore revenue from operations in FY22 as against Rs 16,382 crore in FY21. Patanjali Ayurveda’s revenue increased to Rs 10,664.46 crore in FY22 compared to Rs 9,810.74 crore in FY21. Its net profit came down to Rs 740.38 crore in FY22 as against Rs 745.03 crore in FY21.
Ramdev said they might list five-seven Group companies in the next 5 years but as of now, they are sure of four listings. The four firms that would launch an IPO are Patanjali Ayurved, Patanjali Medicine, Patanjali Wellness and Patanjali Lifestyle.
Patanjali by then aims to have a market capitalisation of Rs 5 lakh crore with these listed firms. Currently, Patanjali Foods is the only Group firm that is listed on the stock market. However, the IPO of this company was not launched by Patanjali.
This company, listed as Ruchi Soya, was bought by Patanjali Ayurved in 2019 for Rs 4,350 crore under a resolution process. Patanjali Foods has a market cap of Rs 48,000 crore.
Ramdev also claimed that at present Patanjali Group gives 5 lakh employment and in the next 5 years they would generate 5 lakh ‘direct’ employment. He also came down heavily on the Food Safety and Standards Authority of India (FSSAI) after the centre-run food testing agency had found adulteration in Patanjali Ghee, among other things.
Ramdev said the testing capability of government labs is outdated and the intentions of officials conducting tests need to be checked as few are found changing parameters to fail Patanjali products.