Patanjali Groups turnover is expected to jump 2.5-fold to Rs 1 lakh crore in the next 5-7 years, Baba Ramdev on Friday said, and also announced plans to launch IPOs of four other group firms.
Outlining the vision of Patanjali Group, he said the company will provide direct employment opportunities to 5 lakh people in the next five years.
“Patanjali Groups current turnover is around Rs 40,000 crore. The Group turnover is expected to reach Rs 1 lakh crore in 5-7 years,” he told reporters here.
He said the Patanjali Group firm, Patanjali Foods (erstwhile Ruchi Soya), is already listed on stock exchanges and its market capitalisation has touched around Rs 50,000 crore.
“We will be launching Initial Public Offerings (IPOs) of four other group companies over the next five years,” Ramdev said.
These four companies are Patanjali Ayurved, Patanjali Medicine, Patanjali Lifestyle and Patanjali Wellness, he said, adding that the IPO of Patanjali Ayurved could be the first IPO.
“Patanjali Ayurved is an established company and is ideal from the point of view of IPO… the product line, reach, customer base and profitability and future projection, make it most favourable,” he added.
The second would be Patanjali Medicine, which owns Divya Pharmacy, and then Patanjali Wellness which runs chains of OPD and hospitals in India.
“We have plans to operate 25,000 beds under Patanjali Wellness. We have around 50 such centres and have plans to take (it to) 100, including IPD and OPD, and gradually expand on a franchise model,” he added.
Patanjali Lifestyle consists of apparel, transport, cattle feed and some other emerging businesses.
Patanjali Group had acquired Ruchi Soya for Rs 4,300 crore through insolvency proceedings. The Group launched the Follow-on Public Offering (FPO) of Ruchi Soya and renamed it as Patanjali Foods.
On the media reports of adulteration in Patanjali Ghee by a certified government lab at Rudrapur, Uttarakhand, Ramdev asserted that the findings of the lab were not correct and alleged the involvement of some officials in this.
“This is a blunder by a government agency. I do not know who are the people indulged in this but I know, the government is not involved,” he said.
He also suggested that the Centre as well as state governments should improve their testing facilities at their laboratories and punish such “irresponsible officers”.
The Patanjali Group has invested around Rs 500 to Rs 1,000 crore in its research & development and to modernise its testing facilities.
“All products are tested multiple times before it comes out. We also export our products to several countries which have very high-quality standards,” he added.
Ramdev asserted that the qualities of all products of Patanjali Group are good and said that efforts are being made by religious, political, medicine and MNC “mafias” to tarnish the image of its brand.
Without naming any people and organisations, he said the Group has given legal notices to more than 100 people and also lodged FIRs.
Ramdev alleged that the malicious campaign against him and the Patanjali Groups products on social media and other mediums are being done by “some people who are on payrolls of MNCs, medical mafia, religious mafia, political mafia and corporate mafia”.
“The people who have conspired, we will not let them go this time,” he said, adding that the Group will take stringent actions as per the law to safeguard the image of the brand.
Ramdev said the sales of Patanjali cow ghee did not drop despite these allegations related to quality, and rather it improved.
In a statement, Patanjali Group said: “Religious terrorism is active in defaming yoga, medical terrorism and drug mafia is active in defaming Ayurveda and multinational mafia (MNC syndicate) is active in defaming Swadeshi Movement. Some selfish and mischievous people of the legislature, executive, media and administration are also involved in this whole dirty business which is only to serve their vested interests by defaming others.”
(Except for the headline, this story has not been edited by The Federal staff and is auto-published from a syndicated feed.)