Indian yoga guru's Patanjali plans to list four firms (updated)

Procter & Gamble Hygiene and Health Care

16/09/2022 09:36

* Aims for turnover of $12.5 bln in 5 to 7 years vs $5 bln
now
    * Face of the brand, Baba Ramdev, speaks at news conference

 (Adds details, background)
    By Tanvi Mehta
    NEW DELHI, Sept 16 (Reuters) - Indian consumer group
Patanjali, co-founded by a well-known yoga guru, said on Friday
it plans to list four group companies and increase group
turnover to $12.5 billion in the next five to seven years.
    The producer of affordable, domestic-made goods is taking on
bigger rivals such as Unilever  ULVR.L  and Procter & Gamble
 PG.N  with plans to list its main consumer goods company, and
medicine, wellness and lifestyle units.
    Set up in 2006, the firm's brand ambassador is Baba Ramdev,
a household name whose television shows on yoga are watched by
millions, with his bearded face smiling down from billboards and
hoardings ubiquitous in India's villages.
    Patanjali said it would list Patanjali Ayurved, most of
which is owned by Ramdev's business partner Acharya Balkrishna,
who has a net worth of $2.1 billion, according to Forbes. 
    "We have resolved to ensure that the contribution of
Patanjali is recorded in golden letters when the centenary year
of independence is celebrated in 2047," Ramdev told a news
conference in New Delhi. 
    Ramdev, seen as a strong supporter of Indian Prime Minister
Narendra Modi, said Patanjali aimed to boost group turnover to 1
trillion rupees ($12.53 billion) in the next five to seven
years, from 400 billion rupees ($5 billion) now.
    Patanjali Ayurved's Indian-made products, such as pills to
boost immunity, cooking ingredients and personal care items,
ride big on Modi's push for Indian-made goods.     
    The company has tried to grab market share in the natural
segment from consumer giants Hindustan Unilever  HLL.NS ,
Colgate Palmolive (India)  COLG.NS  and Procter & Gamble Hygiene
and Health Care  PROC.NS . 
    Only one group company, Patanjali Foods Ltd  PAFO.NS , is
now listed. The group acquired edible oil company Ruchi Soya
Industries in 2019 and renamed it Patanjali Foods this year. 
    Patanjali Foods, which plans to boost palm oil plantations,
is targeting earnings before interest, taxes and amortisation of
50 billion rupees, the group said in a statement.
    
($1 = 79.8400 Indian rupees)

 (Reporting by Tanvi Mehta; Editing by Raju Gopalakrishnan)
 ((tanvi.mehta@thomsonreuters.com; https://twitter.com/TanviMehta710;))