City
Epaper

'Patanjali, Ruchi Soya will combine to have Rs 25,000cr turnover'

By IANS | Updated: January 24, 2020 21:15 IST

Patanjali Ayurveda and Ruchi Soya, which was recently acquired, will register a joint turnover of Rs 25,000 crore in the fiscal year ending March 2020, yoga guru Ramdev said on Friday.

Open in App

The company will work with the aim to make India self-dependent in production of edible oils, he added.

Ramdev also said Patanjali Ayurveda and Ruchi Soya will work hand-in-hand to achieve a turnover of over Rs 25,000 crore this year.

Speaking to the media here at the Constitution Club, Ramdev said: "The company will register a joint turnover of Rs 25,000 crore in the current fiscal ending March 2020, in which around Rs 12,000 crore would be contributed by Patanjali group firms and Rs 13,000 crore will come from Ruchi Soya, he said.

The yoga guru also claimed that over the next two years, 25 per cent shares of Ruchi Soya will be liquidated as per the Securities and Exchange Board of India (Sebi) guidelines.

He emphasised that the company aims to reduce the country's dependency on foreign nations for edible oils.

He also named Malaysia and blamed the country for interfering in India's internal matters only because India was importing palm oil from Malaysia.

"How can Malaysia speak in our internal matter, who gave their nation heads' right to speak on CAA. They speak because we are dependent on them for palm oil," Ramdev claimed.

With the acquisition of Ruchi Soya, Pantanjali's line will get more diversified and the management will make sure that two entities do not compete with each other, he added.

"Both entities will function in different markets, we will also launch three new products under the Ruchi Soya brand," Ramdev said.

"These products will include premium Oil Nutrela Gold, Nutrela Honey and Nutrela Protein Atta," he added.

With Ruchi Soya, the company also aims to double its reach in the next five years to 50 crore people from the existing 25 crore.

"We have a target to expand our reach to 50 crore people in the next five years," he said.

Patanjali, had acquired Ruchi Soya in a Corporate Insolvency Resolution for around Rs 4,500 crore.

( With inputs from IANS )

Tags: Ruchi SoyaRamdevPatanjali AyurvedaindiaMalaysia
Open in App

Related Stories

CricketIND vs PAK 2025 Live Streaming: Head-to-Head Record, When and Where to Watch India vs Pakistan Asia Cup Final

NationalRajnath Singh and Abdeltif Loudiyi Sign MoU on Defence Cooperation; Focus on Counter-Terrorism, Cyber Security, and Maritime Safety (Watch Video)

CricketIND vs PAK 2025 Live Streaming: Head-to-Head Record, When and Where to Watch India vs Pakistan Asia Cup Super 4 Clash

MumbaiNamo Yuva Yatra: Milind Soman Flags Off Campaign in Mumbai, Says ‘Theme of a Drug-Free India Is Very Important’ (Watch Videos)

OpinionsNepal, a Victim Of Conspiracies

कारोबार Realted Stories

BusinessAndhra spent over Rs 48,000 crores on social security pensions in 16 months

BusinessWelfare of India’s farmers is top priority for Govt: PM Modi

BusinessRBI’s move to hold repo rate at 5.5 per cent prudent amid global uncertainty: Economist

BusinessJitendra Vaswani’s BloggersIdeas launches AI Automation services to help businesses scale smarter

BusinessMaha govt approves Nagpur-Chandrapur Expressway