Patanjali Ayurved

Patanjali Ayurved Limited is an Indian consumer goods company, manufacturing units and headquarters are located in the industrial area of Haridwar, Uttarakhand while the registered office is located at Delhi.[4] The company manufactures mineral and herbal products. According to CLSA and HSBC, Patanjali is the fastest growing FMCG company in India. It is valued at ₹3,000 crore (equivalent to ₹35 billion or US$490 million in 2019) and some predict revenues of ₹5,000 crore (US$700 million) for the fiscal 2015–16.[5][6][7] Patanjali declared its annual turnover of the year 2016–17 to be estimated ₹10,216 crore (US$1.4 billion).[8] It was listed 13th in the list of India's most trusted brands (The Brand Trust Report) as of 2018, and ranks first in FMCG category.[9]

Patanjali Ayurved Limited
Private[1]
Industry
Founded2006 (2006)
Founder
Headquarters
Haridwar, Uttarakhand
,
India
Area served
[2]
Products
Revenue ₹9500 crore (2018)
₹590 crore (2018)
Total assets ₹4,345 crore (2019)
OwnerBalkrishna
Number of employees
2,00,000 (2011–12)[3]
Subsidiaries
Websitepatanjaliayurved.org

History

Swami Ramdev established the Patanjali Ayurved Limited in 2006 along with Balkrishna, with the objective of establishing science of Ayurveda in accordance and coordination with the latest technology and ancient wisdom.[10][11][12]

Balkrishna owns 99.6% of Patanjali Ayurved, and as of March 2018, has a net worth of ₹43,932 crore (US$6.1 billion).[13]

Revenues
YearRevenues

(₹ in Crore)

2010-11100
2011-12300
2012-13841
2013-141,184
2014-152,006
2015-168,000
2016-1710,526 [14]
2017-189500 [15]
2018-198,330 [16]

Future Group, which has tied up with Patanjali sells about ₹30 crore (US$4.2 million) worth of Patanjali products every month.[17][18][19]

Production

Patanjali Food and Herbal Park at Haridwar is the main production facility operated by Patanjali Ayurved. The company has a production capacity of ₹35,000 crore (equivalent to ₹380 billion or US$5.3 billion in 2019) and is in the process of expanding to a capacity of ₹60,000 crore (equivalent to ₹690 billion or US$9.7 billion in 2019) through its new production units at several places, including Noida, Nagpur, and Indore.[15][20][21]

In 2016, the Patanjali Food and Herbal Park was given a full-time security cover of 35 armed Central Industrial Security Force (CISF) commandos.[22][23][24] The park will be the eighth private institute in India to be guarded by CISF paramilitary forces.[24] Ramdev baba is himself a "Z" category protectee of central paramilitary forces.[24]

In 2017, Patanjali group launched their official Caller Tune with their slogan 'Swadeshi swabhimaan, rashtra seva ka abhiyaan' music composed by Vaibhav Saxena.[25]

Controversies

Suspension of Amla juice

The Ministry of Defence's canteen stores department (CSD) had suspended the sale of Patanjali Ayurved's amla juice after receiving an adverse state-laboratory test report on the product.

The move came after the product was tested at the central food lab that found it to be unfit for consumption. After which, the CSD asked all its depots to make debit notes for their existing stock so that the product can be returned.[26][27]

Notice by FSSAI

Patanjali launched instant noodles on 15 November 2015.[28][29][30] Food Safety and Standards Authority of India slapped a notice on the company as neither Patanjali nor Aayush, which are the two brand names under which Patanjali got licenses, have got any approval for manufacturing instant noodles.[31][32][33][34]

COVID-19 drug development

In June 2020 , Patanjali Ayurved announced the launch of a COVID-19 treatment kit called Coronil, claiming that it showed 100% favorable results in clinical trials on coronavirus patients.[35][36] There was no clinical data to prove that these new drugs were effective or even safe, and this prompted a backlash on social media, with people questioning the role of the Ministry of AYUSH.[37] Within hours of the launch, the Ministry of AYUSH issued a statement, denying having given clearance for the launch of the new drugs and asking the company to stop selling or advertising the product until the trial results were examined by medical authorities.[38][39][40]An officer from the Ayurved department of the Government of Uttarakhand stated that the approval application for the new drugs had not mentioned COVID-19.[41] The Government of Maharashtra banned Coronil in the state, with home minister Anil Deshmukh threatening the company with legal action if they did not respect the ban.[42] Following the launch two FIRs were registered in Bihar and Rajasthan against Ramdev, Balkrishna, and others, accusing them of cheating and selling fake medicines.[43][44] Patanjali responded to the accusations claiming that they did not violate any procedure leading up to the launch.[45]

On August 2020, the company was fined Rs 10 lakh by the Madras High Court for false claims made initially.[46]

Products
Toothpaste by Patanjali Ayurved

Patanjali Ayurved[47] produces products in the categories of personal care and food.[48][49] The company manufactures more than 2,500 products including 45 types of cosmetic products and 30 types of food products. According to Patanjali, all the products manufactured by Patanjali are made from Ayurveda and natural components.[50][51][52][53][54] Patanjali has also launched beauty and baby products.[55] Patanjali Ayurvedic manufacturing division has over 300 medicines for treating a range of ailments and body conditions, from common cold to chronic paralysis.[56][57][58]

In 2016, Patanjali has announced to enter the textile manufacturing centre. The company is reported to manufacture not only traditional clothes such as Kurta Payjama but also popular western clothes such as jeans.

On 5 November 2016, Patanjali announced that it will set up a new manufacturing plant Patanjali Herbal and Mega Food Park in Balipara, Assam by investing ₹1,200 crore (US$170 million) with the manufacturing capacity of 10 lakh tonnes of goods per year. The new plant will be the largest facility of Patanjali in India and will be operational by March 2017. Patanjali already has around 50 manufacturing units across India.[59]

Sales and distribution

Patanjali Ayurved sells through nearly 4,700 retail outlets as of May 2016.[52][60] Patanjali also sells its products online and is planning to open outlets at railway stations and airports.[61] Patanjali Ayurveda has tied up with Pittie Group and Kishore Biyani's Future Group on 9 October 2015.[52] As per the tie-up with Future Group, all the consumer products of Patanjali will be available for the direct sale in Future Group outlets.[62][63][64] Patanjali Ayurveda products are also available in modern trade stores including Reliance retail, Hyper city and Star Bazaar apart from online channels.[52][65][66][67][68] Patanjali Ayurved, co-founded by yoga guru Ramdev, is targeting ₹10,000-crore revenue in 2016–17, after sales grew 150% in the previous financial year to ₹5,000 crore.[69]

Patanjali Ayurved has also started its FMCG expansion in form of dealership and distributorship channels across the country and expects wider growth in overseas distribution as well.[70]

Acquisition

In December 2019, Patanjali has acquired bankrupt Ruchi Soya Industries at a valuation of ₹4350 crore. At present Ruchi Soya is a mid cap company listed on NSE and BSE in India. Its a major soyabean product player in India.[71]

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See also

References
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