Exclusive: Swami Ramdev says Patanjali Foods to open 20 lakh retail shops

Swami Ramdev Exclusive: Patanjali Foods to open 20 lakh retail shops: Patanjali Foods has posted a jump of 42 per cent in its standalone revenue to Rs 8,514 crore against Rs 5,995 crore in the year-ago period.

The fast-moving consumer goods firm has posted a decline of 31.6 per cent in its standalone net profit to Rs 112.30 crore in the quarter that ended September 30, against Rs 164.30 crore net profit in the year-ago period.

In an exclusive conversation with Zee Business Managing Editor Anil Singhvi, Yoga guru Swami Ramdev said, "Patanjali Foods has a direct distribution in 10 lakh shops and the Haridwar-headquartered company plans to take it to almost 20 lakh in the coming future."  

The FMCG's standalone operating profit or Ebidta was down 41.1 per cent to ₹ 194.6 crore, against ₹ 330.2 in the corresponding period the previous year. Ramdev further said, "I believe that we are not just running the company, in fact, we are giving wings to India's economic progress. Hence, even if there is inflation or prices are down, it hardly matters to us."

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According to the company statement, the foods business achieved sales of ₹ 2,399.66 crore contributing 37.18 per cent of the total branded sales of the company. It also added that branded sale including the institutional segment achieved sales of ₹ 6,453.45 crore, making up more than 77 per cent of the total sale of products of the company for the period.

Swami Ramdev noted, "Company's Food segment with Chyawanprash, Honey and our top brand Ghee are doing really well. The company will also make oil business profitable." "Patanjali Foods is growing like (Fast-moving consumer goods) FMCG company. The prices of Palm oil soya have declines by almost 25 per cent," he added. 

The Haridwar-headquartered company was founded by Ramdev and Balkrishna in 2006. Its office is in Delhi, with manufacturing units and headquarters in the industrial area of Haridwar. The company manufactures cosmetics, ayurvedic medicine, personal care and food products. The chief executive officer (CEO) of the company, with a 94-percent share hold, is Balkrishna. Ramdev represents the company and makes strategic decisions.

Yoga guru also said, "we are taking the company in right direction in order to contribute to the economy of our country. "The investors who believed in us, we will take their confidence further ahead." 

The company said its margin was 2.3 per cent against 5.5 per cent in the year-ago period. The company said consumer demand remained a challenging issue  with persisting high inflation along with monetary/fiscal measures taken by the government including the continuation of stock limits on oils and oilseeds, governments insistence on reduction in retail edible oil prices and passing of price benefits to the consumers.

The company's shares closed at ₹ 1,272 apiece on BSE, a decline of 1.62 per cent over the previous session, on Friday. In the past five days, the shares had been declining about 5.64 per cent, according to the stock exchange.

Also Read | WPI Data October 2022: Wholesale inflation dips to 19-month low of 8.39%

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