India: Patanjali Ayurveda plans $150 million expansion in 2016
Fast-growing consumer goods firm Patanjali Ayurveda is set to invest 1,000-crore INR ($150 million) early next year on various expansions plan, with a particular focus on e-commerce and export, according to reports in the Economic Times and Wellness India.
Patanjali Group promoter Baba Ramdev said: “We are likely to invest about Rs 1,000 crore in 2016 for various initiatives. Banks have already sanctioned Rs 500 crore as working capital loan and they are ready to grant more funds for further expansions. There is no issue on funding", he said.
Patanjali’s turnover for the last fiscal year 2014-2105 was estimated at 2,000 crore ($300 million) and is is expected to reach INR 5,000 crore ($751 millio) for the fiscal year 2015-2016. Early in the coming year, Patanjali is expanding its product portfolio with the launch of new products including cow’s milk powder, cheese and chocolates. The company is already in the process of launching natural cosmetics under the Saundarya brand and baby care products under the Shishu Care brand in December 2015.
Apart from a focus on product development, Patanjali Ayurveda is also looking to set up manufacturing plants in the southern part of India and to become a partner with food parks. According to Mr Ramdev, the company will also be focusing on exports from March of next year and will be targeting countries including the USA, the UK and Canada.
Source: Economic Times / Wellness India