Patanjali eyes top slot in FMCG space

New Delhi: The combined annual turnover of Patanjali Ayurved group and its subsidiary Ruchi Soya is around Rs35,000 crore and the target is to become India's number one food, FMCG and agriculture company in the next five years, Baba Ramdev said at a press conference on Thursday. He also announced that Patanjali Ayurved will demerge all its food businesses into the listed entity Ruchi Soya Industries.

"We have set a target to make Patanjali Ayurved and Ruchi Soya, India's largest food and FMCG company in next five years," Ramdev told reporters here. He claimed that Patanjali Ayurved is the country's second largest food and FMCG firm, with Hindustan Unilever Ltd (HUL) being the first.

Ramdev also said that the company on Thursday launched the Follow on Public Offer (FPO) of Ruchi Soya Industries to raise Rs4,300 crore. Several companies under the umbrella of Haridwar-based Patanjali group would be listed in phases, he added. However, when asked, he did not share any timeline for launching the initial public offer of Patanjali group of companies. When asked about the group's current revenue and ranking in the sector, Ramdev said: "Our combined turnover of Patanjali group, including Ruchi Soya, is over Rs35,000 crore and it is ranked second in the FMCG and food space, after HUL. HUL is the leading company in FMCG and food segment and had a revenue of Rs45,996 crore in FY21, while Patanjali group had posted a turnover of around Rs 30,000 crore. Ruchi Soya, which was acquired by the Patanjali group for Rs 4,350 crore, had a revenue of nearly Rs16,400 crore in FY21. The group had acquired Ruchi Soya in 2019 through an insolvency process. In 2020-21, Patanjali Ayurved had posted a turnover of Rs 9,783.81 crore, while other group entities such as Patanjali Natural Biscuits reported a turnover of Rs 650 crore, Ayurveda arm Divya Pharmacy Rs 850 crore, and food processing arm Patanjali Agro Rs 1,600 crore. Transportation wing Patanjali Parivahan reported a turnover of Rs 548 crore and Patanjali Gramoudyog Rs 396 crore during the previous fiscal.