As part of its ongoing premiumization strategy, Patanjali Foods made a notable move on Friday by introducing a total of 14 new products. These latest offerings cover a wide range of segments, including nutraceuticals, health biscuits, Nutrela millet-based cereals, and dry fruit.
During the press conference, Baba Ramdev, the head of the group, announced that within the next few years, two to three companies from the group, including Patanjali Ayurved and Patanjali Wellness, will initiate their initial public offerings (IPOs).
In September of the previous year, the company had announced its intention to list Patanjali Ayurved, Patanjali Wellness, Patanjali Lifestyle, and Patanjali Medicine within a five-year timeframe, with the objective of achieving a market capitalization of INR 5 trillion for the group.
Baba Ramdev expressed his ambition to achieve a turnover of INR 1 trillion for the group within a span of five years.
Sanjeev Asthana, the CEO of Patanjali Foods, outlined the company’s objective of deriving 80 percent of its profits from fast-moving consumer goods (FMCG), while the remaining portion would come from its edible oil business.
With a focus on the Indian sports nutrition industry, the company is placing its bets on expansion and anticipates a robust compound annual growth rate (CAGR) of 18 percent. It envisions the industry to reach a value of INR 8,000 crore by FY28.
The company has launched Nutrela Sports with six products such as powders, capsules for vitamins, and supplements, it said in its release.
As part of its product expansion, Patanjali Foods has launched Nutrela MaxxMillets, marking the beginning of its series of millet-based products. Furthermore, the company has introduced ragi biscuits along with a variety of digestive biscuits to cater to the diverse preferences of its customers.
“The health biscuits category in India holds a 5 per cent share in the Indian biscuits market of nearly INR 45,000 crore. The company, backed by its large manufacturing and distribution infrastructure, has ambitious plans to occupy a 10 per cent share in this category by the end of this year,” Patanjali Foods said in its release.
Patanjali Foods’ biscuit business has an extensive presence, encompassing over 1 million retail outlets. As part of their initial strategy, the company aims to distribute the new products in more than 100,000 supermarkets, modern-format stores, and high-quality A-class outlets.
“The full-scale launch of these health biscuits is projected to improve the margin profile of the biscuits business,” it said.
Patanjali Foods is determined to expand its branded dry fruit business, with the goal of reaching a market value of INR 1,000 crore within a span of five years.
