India: Fast-growing Patanjali Ayurved Limited launches instant noodles
Patanjali Ayurved Limited (PAL), the rapidly growing ayurveda goods company led by yoga guru Baba Ramdev, is rolling out a new brand of wheat noodles under the name Atta Noodles.
The move comes as the result of a gap in the market created by the recent ban on the sales of Nestle’s Maggi instant noodles. The Atta brand product will be launched once approval has been granted by the Food Safety and Standards Authority of India.
Despite its unconventional approach, PAL has become the fastest growing FMCG company in India with revenues in excess of 2,500 crore INR ($374 million) for 2014-15 and an after-tax profit of 300 crore INR ($45 million). The firm has more than quadrupled its revenue in the past three years and now has presence in major segments such as soaps, shampoos, dental care, balms, skin care, biscuits, ghee, juices, honey, oil and masala (spices). In addition to instant noodles, it is now also looking to enter the malted food drinks space.
Acharya Balkrishna, managing director of PAL, commented: "We never had a business plan. We also don't know markets or marketing, but what we know is serving the people by providing them high-quality products at attractive prices”.
Source: Times of India / DNA India / Economic Times / Adage India