Patanjali Foods is targeting INR 1,000 crore in sales within the masala business, viewing this category as the next frontier for growth.
Baba Ramdev, serving as a non-executive director at Patanjali Foods, expressed the company’s intent to develop the biscuits and edible oil business. This strategic focus aims not only to stimulate growth but also to establish favorable profit margins.
The company has enlisted former cricketer M S Dhoni as the ambassador for its edible oil brand, Mahakosh.
Read More: Patanjali Foods enlists M S Dhoni as brand ambassador amidst remarkable profit surge
During the investor day, Ramdev refrained from commenting on the merger, demerger, or acquisition plans the company was contemplating.
“While we will enter the nutraceuticals business, we are still discussing the name under which we will launch our product, which also includes Nutrela,” said Ramdev.
According to the investor presentation, the company introduced 22 products and 35 stock-keeping units in the nutraceuticals segment under the Nutrela brand.
He mentioned that the top 10-20 brands of Patanjali Foods would persist in their growth trajectory and further expand in size over the coming years.
Within the food sector, the company has introduced premium offerings, encompassing a range of dry fruits, cereals based on millets, and health-oriented cookies.
The company highlighted in its presentation that it is expanding its outreach through various channels, including modern trade, e-commerce, quick-commerce, and direct-to-consumer. Additionally, it is extending its presence to new geographic areas, particularly in South India.
The company outlined six key areas of focus, which encompass boosting its presence in the food and fast-moving consumer goods sector, swiftly adapting to changing markets through prompt product launches, realigning marketing and branding strategies, expanding distribution through omnichannel channels, driving premiumization across various business segments, and sustaining growth in the oil palm business.
In the first half of this fiscal year, the company foresees 28% of its revenue originating from its food business, marking a significant rise from the 20% reported in FY23. Moreover, its dependence on edible oils has diminished to 72%, down from 80% in the previous fiscal year.