Patanjali eyes 14 new products

June 18, 2023 admin Leave a reply Post Comment

Patanjali eyes 14 new products

Patanjali Foods last week launched 14 products as it starts pushing its premiumization strategy.

The products belong to the segments of nutraceuticals, health biscuits, Nutrela milletbased cereals, and dry fruit.

At Media Interaction, Baba Ramdev, who runs the group, indicated in a few years, two to three of the group´s companies, including Patanjali Ayurved and Patanjali Wellness, would come up with their IPOs.

In September last year, the company had said it would list Patanjali Ayurved, Patanjali Wellness, Patanjali Lifestyle, and Patanjali Medicine in five years and aim for Rs 5 trillion as the group´s market capitalization.

Baba Ramdev said it was targeting a Rs. 1 trillion turnover for the group in five years.

Sanjeev Asthana, chief executive officer, Patanjali Foods, said the target was to have 80 per cent of the company´s profits from fastmoving consumer goods and the rest from its edible oil business.

The company is betting on expansion in the Indian sports nutrition industry and expects it to grow at a compound annual growth rate of 18 per cent to Rs. 8,000 crores by FY28.

The company has launched Nutrela Sports with six products such as powders, capsules for vitamins, and supplements, it said in its release.

It has launched Nutrela Maxx Millets and the company has plans to have a series of Millet based products.

It has also launched ragi biscuits and other digestive biscuits.

“ The health biscuits category in India holds a 5 per cent share in the Indian biscuits market of nearly Rs 45,000 crore.

The company has ambitious plans to occupy a 10 per cent share in this category by the end of this year,” Patanjali Foods said in its release.

Patanjali Foods´ biscuit business covers more than 1 million retail outlets, and the initial plan will be to place the new products in over 100,000 supermarkets, modern format stores, and A class outlets.

“The full scale launch of these health biscuits is projected to improve the margin profile of the biscuits business,” it said.

It is scaling up its branded dry fruit business to Rs 1,000 crore in five years.