Patanjali to invest Rs 1,150 cr in FY17, eyes doubling revenue

New Delhi: Patanjali Ayurved, the FMCG venture promoted by yoga guru Ramdev, will invest over Rs 1,150 crore in the current fiscal to set up six processing units and one R&D center as it chases a turnover of Rs 10,000 crore this year.

“We will invest Rs 1,000 crore to set up 5-6 processing units in various parts of the country. Apart from this, we will invest Rs 150 crore in research and development (R&D). We are looking at doubling our turnover to Rs 10,000 crore in the current fiscal,” Ramdev told .

These units will come up in Assam, Madhya Pradesh, Uttar Pradesh, Maharashtra, Haryana and Uttar Pradesh.

“We are looking at setting up units in drought-hit areas such as Vidharbh in Maharashtra and Bundelkhand region in Uttar Pradesh and Madhya Pradesh. At least four of these units will become operational by the end of this fiscal,” Patanjali Ayurved Managing Director Acharaya Balkrishnan said.

Patanjali Ayurved, which reported a turnover of Rs 5,000 crore in the last fiscal, is also looking at entering the highly competitive dairy segment this year.

“To reach our growth target, we will venture into new categories such as dairy, animal feed and khadi garments for yoga. We will enter dairy segment this year with the launch of milk, cheese, butter milk and paneer,” Ramdev said.

When asked about the source of funds, he said: “Banks are more than willing to give loans to us. We have no shortage of funds to expand. We are a debt-free company.”

The company is also working towards increasing its exports and enhance online presence.

“We are getting five crore internet searches every month. Our online sales will increase further as we expand,” Ramdev said.

Besides, Haridwar-based firm has created four verticals — Home Care, Natural Cosmetics and Health Care, Natural Food and Beverages and Health Drink — as a strategy to expand and consolidate distribution network.