Baba Ramdev-led FMCG firm Patanjali group on Thursday (May 4) announced 111% rise in turnover to Rs 10,561 crore in 2016-17.
The rapidly growing brand said it will double the annual production capacity and number of distributors this year to “become biggest swadeshi brand within one to two years”.
Baba Ramdev also launched a new business policy called “Prosperity for Charity” and said he would set up a residential school for children of soldiers who have been killed.
It will be called the Patanjali Avasiya Sainik School and located around the National Capital Region, he said.
In the FY17 turnover, the share of Patanjali Ayurved, Divya Pharmacy and Patanjali Gramodhyog is Rs 9,346 crore, Rs 870 crore and Rs 345 crore, respectively. In 2015-16, turnover of Patanjali group had grown by 150 per cent to Rs 5,000 crore.
Baba Ramdev said that the firm is planning to open restaurants that will challenge established multinational food chains like McDonald’s, KFC and Subway.
“We haven’t launched them. But we are working on this direction. In future, it will surely happen,” he said.
Furthermore, Baba Ramdev went on to say that Patanjali group was looking at a growth rate of 100% for FY 2017-’18.
On the company’s expansion plans, Ramdev said that Patanjali group will increase the production capacity from Rs 30-35, 000 crore to more than Rs 60,000 crore next year.
Moreover, the group will increase its number of distributors from 6,000 currently to 12,000 by the end of this year.