Haridwar-based Patanjali group, which has acquired debt-ridden Ruchi Soya, expects to have a turnover of Rs 35,000-Rs 40,000 crore in the next financial year and to become the largest company in the FMCG sector in the coming years replacing market leader HUL, said Yoga Guru Ramdev here on Friday.
The company is expected to register a joint turnover of up to Rs 25,000 crore in the current financial year, in which around Rs 12,000 crore is likely to be contributed by Patanjali group firms and Rs 13,000 crore may come from Ruchi Soya, he said.
After the acquisition of Ruchi Soya, Ramdev-promoted Patanjali expects threefold growth of the company and to become a major player in the edible oil category and take a lead in the domestic production of soyabean oil, sunflower oil and palm oil.
Besides, it would also reduce India's dependency on imports in the edible oil segment and save foreign exchange reserve through self-reliance on palm oil.
"This fiscal, Patanjali along with Ruchi Soya would have a turnover of around Rs 25,000 crore and expects to grow up to around Rs 35,000 crore-Rs 40,000 crore by the next fiscal year (FY21)," Ramdev said.
He further said, "In next five years, we would have a turnover of around Rs 50,000 crore to Rs 1 lakh crore and will become the largest FMCG company, replacing HUL."
When contacted, HUL spokesperson said, "As a policy, we do not comment on competition."