THE JOURNEY SO FAR
2006-15: Patanjali Ayurved set up by Swami Ramdev and Acharya Balkrishna; in 2015, clocks ₹2,000 crore yearly sales
2016-18: Hits ₹10,000 crore in group revenue; in 2018, revenue growth plateaus amid its focus on expanding distribution through general trade
2019: Acquires Ruchi Soya for ₹4,350 crore through insolvency process
2021: Ruchi renamed Patanjali Foods Ltd (PFL) after Patanjali Ayurved hands over foods business; group revenue jumps
2022: IMA files plea against Patanjali for spreading misconception
2023: Sebi freezes promoters' shares in PFL; raises public stake to 25% via OFS; Supreme Court warns Patanjali for its claims of curing diabetes and high BP
Jan-Jun 2024: Supreme Court issues show-cause notice to Ramdev and Balkrishna; both tender unconditional apology
July 2024: PFL board approves proposal to acquire Patanjali Ayurved's home and personal care business
IT'S A TYPICAL June afternoon in Haridwar. The sun is blazing down from a hot and copper sky, and the 43° C temperature has kept most people indoors. The occasional breeze lifts dust. After a tour of the Patanjali Research Institute near Bahadrabad in Haridwar, Uttarakhand, we are headed along the Delhi-Haridwar highway to the Patanjali Foods & Herbal Park in Mustafabad village, some 25 km away. But Swami Ramdev's convoy disappears in a cloud of dust as his Range Rover shoots off along the narrower local road.
Who would have thought that Swami Ramdev was a speed demon? Maybe sitting in a Range Rover (with a top speed of 290 kmph) with Z-category security does that to you. Or maybe it's the yoga guru's way of signalling his intent to double his Patanjali group's turnover to ₹1 lakh crore in just four years.
This story is from the July 21, 2024 edition of Business Today India.
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This story is from the July 21, 2024 edition of Business Today India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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