Patanjali Foods on Friday launched 14 products as it starts pushing its premiumization strategy.
The products belong to the segments of nutraceuticals, health biscuits, Nutrela millet-based cereals, and dry fruit.
At the press conference, Baba Ramdev, who runs the group, said in a few years, two to three of the group’s companies, including Patanjali Ayurved and Patanjali Wellness, would come up with their initial public offerings.
In September last year, the company had said it would list Patanjali Ayurved, Patanjali Wellness, Patanjali Lifestyle, and Patanjali Medicine in five years and aim for 5 trillion as the group’s market capitalization.
Baba Ramdev said it was targeting a 1 trillion turnover for the group in five years.
Sanjeev Asthana, chief executive officer, of Patanjali Foods, said the target was to have 80 percent of the company’s profits from fast-moving consumer goods and the rest from its edible oil business.
The company is betting on expansion in the Indian sports nutrition industry
and expects it to grow at a compound annual growth rate of 18 percent to 28,000 crores by FY28.
The company has launched Nutrela Sports with six products such as powders, capsules for vitamins, and supplements, it said in its release.
It has launched Nutrela MaxxMillets and the company has plans to have a series of millet-based products.
It has also launched ragi biscuits and other digestive biscuits.
“The health biscuits category in India holds a 5 percent share in the Indian bis- cuits market of nearly 45,000 crores. The company, backed by its large manufacturing and distribution infrastructure, has ambitious plans to occupy a 10 percent share in this category by the end of this year,” Patanjali Foods said in its release.
Patanjali Foods’ biscuit business covers more than 1 million retail outlets, and the initial plan will be to place the new products in over 100,000 supermarkets, modern-format stores, and A-class outlets.
“The full-scale launch of these health biscuits is projected to improve the margin profile of the biscuits business,” it said. It is scaling up its branded dry fruit business to 1,000 crores in five years.