New Delhi, Sep 14, 2016: Baba Ram Dev’s close aide and Patanjali Ayurved Limited CEO Acharya Balakrishna has just entered Hurun India Rich List 2016 and have become 25th richest man in the country with the personal fortune of Rs 25,600 crore ($3.82 billion).
The Report said that: “Yoga Acharya’s Patanjali has taken the market by storm and is eating away market share of other multinational FMCG’s.”
Patanjali registered a turnover of Rs 5,000 crore and expects to hit Rs 10,000 crore in 2017.
Acharya Balakrishna holds as much as 94% of Patanjali shares and heads 34 companies and three trusts associated with Ramdev and the Patanjali banner. The success of the company banks on the popularity and goodwill of Yoga Guru Ramdev and the products endorsed by him.
Balakrishna, Yoga guru Ramdev’s closest aide, said Patanjali operates at 8-10 percent profit margin and profits are reinvested in innovation and capacity expansion to bring prices down even further.
While most companies before entering the market carry out market research but Patanjali, on the other hand, has launched products in multiple categories almost simultaneously – be it toothpaste, biscuit, beauty care or home worship products.
In fact, The company in a new move intends to venture into garments area and has decided to launch ‘swadeshi jeans’ by end of the year or early next year.
There is a great demand from youths, and therefore Patanjali has decided to launch the Indianised jeans to compete with foreign brands, said Ramdev.