New Delhi | Patanjali Group is looking to clock a turnover of Rs 1 lakh crore in next five years as it expands reach to all sections of consumers with different offerings, its leader Baba Ramdev said on Friday.
Group firm Patanjali Foods (previously Ruchi Soya) will also play a significant part in achieving the milestone, having set a target of Rs 45,000-50,000 crore turnover in next five years.
As part of its portfolio premiumisation strategy, Patanjali Foods introduced a new range of offerings in nutraceuticals, health biscuits, Nutrela millet-based cereals, and dry fruits.
"It is our vision to take the turnover of Patanjali Group to Rs 1 lakh crore in next 5 years and that of Patanjali Foods, which is our listed company to up to Rs 50,000 crore," Ramdev said while addressing a press conference here.
Patanjali has been focussing on self reliance in India, challenging the multinationals in the domestic market, he said adding,"Today we have overtaken all the MNCs except Unilever, which is still ahead of us." "Two decades back, when I had said we will make Patanjali's turnover at Rs 10,000 crore, at that time many had thought that Baba was being overconfident. Then again when I said about Patanjali's aim of a turnover of Rs 20,000 crore and compete with the likes of Unilever, some had asked us to be within our limits. Today, I proudly say that the turnover of Patanjali group has reached near Rs 45,000 crore level," he said.
Ramdev said the group has been offering a variety of affordable products for the masses through Patanjali Ayurved and now it is trying to tap the "emerging upper-middle class" through the premium products offered by Patanjali Foods.
At global level also, he said Patanjali is moving towards becoming a leading company in the FMCG segment with its reach touching around 200 crore people in 200 countries.
"In India itself, we have reached 70 crore people and aim to reach more than 100 crore people. We are making various preparations for this. We have reached the masses and are looking to cater to the upper-middle class with our premium products like soya chunks, premium oil and other Nutrela products," he said.
Patanjali Foods CEO Sanjeev Asthana said the company currently has a turnover of Rs 31,000 crore.
"In the next five years our expectation is it will go between Rs 45,000 crore to Rs 50,000 crore," he told PTI here on the sidelines of the launch of products.
He further said,"Our target is that from the current value offering that we have, about 5 per cent to 10 per cent will come from the premium products." Asthana said the company is building Nutrela as an umbrella consumer business orientation, which has got both value and a premium offering.
On biscuits, he said the company has clocked a revenue of Rs 1,200 crore.
"This year, our target is upwards of Rs 1,500 crore. We're pretty confident that we will meet that objective. Going forward, a larger part of our share will come to the value and a significant part of it is going to come to the premium, where we are giving the healthier options without diluting anything that Patanjali stands for.