Baba Ramdev-promoted Patanjali Ayurved is now focusing on the agriculture and food processing sector as it looks to bring out several products from the segment in the coming future.
The company, which is working with farmers on the ground, is encouraging them to go for organic farming among them.
“Now we are focusing more on agriculture and solar energy sector. The agriculture has a wide scope and Patanjali would work in several directions in the sector,” Baba Ramdev told PTI.
He further added: “We would encourage organic farming and we are going to bring many products based on it. We are also working on food processing and we will make our efforts in this.”
Patanjali Ayurved last month entered into the cow milk segment by launching cow milk and milk-based dairy products and also has plans to launch its apparel brand ‘Paridhan’.
“We are trying to open at least 100 stores before March 2019,” Ramdev said here on the sideline of an event organised by FICCI Ladies Organisation, the women business wing of the trade body.
On being asked about Patanjali’s bid to acquire the debt-ridden firm Ruchi Soya, where it was competing with Adani group firm Adani Wilmar, Ramdev declined to comment saying that matter is now subjudice.
“That is now pending with the court (NCLT Mumbai),” he added Adani Wilmar and Patanjali group have been engaged in a long-drawn battle to take over Ruchi Soya.
While Adani Wilmar emerged as the highest bidder with a Rs 6,000 crore offer, Patanjali group came second with a Rs 5,700 crore bid. Patanjali, which had recorded multi-fold growth in recent years, witnessed a marginal growth only last fiscal hit by the implementation of the GST regime finishing around Rs 12,000 crore. In the 2016-17 financial year, Patanjali clocked a turnover of Rs 10,561 crore, registering a 111 percent growth.
On being asked about the growth this year, he said:” We expect this year to be good. Rs 12,000 crore is a decent amount and we would grow forward from here. We are aiming to make Patanjali as one of the leading FMCG company globally,” Ramdev added.
Ramdev also clarified that Patanjali would not go for foreign equity and not be listed on any stock exchange, as it is a charitable firm. “Patanjali will not allow foreign equity or go in for a public issue,” he said Ramdev, who had actively campaigned for the BJP in 2014 general elections said that he would be neutral in the coming general elections of 2019.