Patanjali to Invest 1,150 cr this Year, Aims to Double Sales
New Delhi: Patanjali Ayurved plans to invest more than .₹ 1,150 crore this year to set up five or six processing units and one R&D centre, its founder and yoga guru Baba Ramdev said in Delhi on Tuesday. The home-grown Ayurveda-based consumer products firm, which is rapidly gaining traction across categories ranging from soap and toothpaste to noodles and honey, targets to double its turnover to .₹ 10,000 crore this fiscal from .₹ 5,000 crore in FY16, Ramdev said at a media briefing. It also plans to enter new segments including dairy products, animal feed and khadi garments.
“We plan to launch milk, cheese, butter milk and paneer,” Ramdev said.
Patanjali sells close to 500 products and, according to retail trade, it has already started taking away share from established players such as Dabur, Emami and Colgate in categories like honey, chyawanprash and toothpaste. The new units will be set up in Assam, MP, UP, Maharashtra and Haryana. Patanjali Ayurved MD Acharya Balkrishna said four units will become operational by the end of this fiscal.
Some other spiritual gurus and institutions such as Sri Sri Ravi Shankar, Ram Rahim and Aurobindo Ashram too have launched Ayurveda-based consumer products.