New Delhi (NewsReach) : Patanjali Ayurved Group and its subsidiary Ruchi Soya have a combined annual turnover of around Rs 35,000 crore and aim to become India’s top FMCG company in the next five years.
Announcing this at a press conference on Thursday, Patanjali Group chief Baba Ramdev said that Patanjali Ayurved will merge all its food business with listed entity Ruchi Soya Industries.
“We aim to make Patanjali Ayurved and Ruchi Soya India’s largest food and FMCG company in the next five years,” Ramdev said.
He claimed that Patanjali Ayurved is currently the second largest food and FMCG company in the country. Ramdev also said that many companies of Patanjali group will be brought in initial public offering (IPO) in the coming times. But he did not specify any time frame for this.
When asked about the current revenue position of the group, Ramdev said, “Patanjali Group combined with Ruchi Soya has a combined business of over Rs 35,000 crore and ranks second in the food and FMCG sector.”
The turnover of Patanjali Group in the financial year 2020-21 was around Rs 30,000 crore. The group had acquired Ruchi Soya in the year 2019 through insolvency proceedings.
Denying any competition between Patanjali and Ruchi Soya, Ramdev said, “Patanjali will hand over all its food business to Ruchi Soya in the next few months. After that Patanjali Ayurved will also be active in non-food, traditional medicine business.
He said that Ruchi Soya will focus on Edible Oil, Edible & FMCG, Nutrition and Palm Production business.
