 "Patanjali Ayurved")
Patanjali Foods is aiming at sales of Rs 1,000 crore in the masala business as it is eying the category as the next area of growth.
Baba Ramdev, non-executive director at Patanjali Foods, said the company was looking to build the biscuits and edible oil business, which would not only drive growth but build good margins.
It has taken on board former cricketer M S Dhoni as ambassador for its edible oil brand Mahakosh.
During the investor day, Ramdev said he could not comment on the merger, demerger or acquisition the company was planning.
“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.
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In its investor presentation, the company said it had launched 22 products and 35 stock-keeping units in the nutraceuticals segment under the Nutrela brand.
He added Patanjali Foods’ top 10-20 brands would continue to grow and become even bigger over the next few years.
In the foods business, it has launched premium products which include a dry fruit range, millet-based cereals, and health cookies.
In its presentation the company pointed out it was increasing its reach through new channels, which include modern trade, e-commerce, quick-commerce, and direct-to-consumer, along with expanding its geographies in South India.
The company listed six areas of focus including increasing its share in the food and fast-moving consumer goods business, responding to evolving markets with swift product launches, reorienting marketing and branding activities, an omnichannel expansion in distribution, a premiumisation drive across businesses, and continued growth in oil palm business.
In the first half this financial year, the company expects 28 per cent of its revenue to come from its food business. It was 20 per cent in FY23. Also, its dependence on edible oils came down to 72 per cent from 80 per cent last financial year.
