With Patanjali Ayurved, the brand launched by Baba Ramdev gaining recognition and more preference day by day, Baba Ramdev is pulling all the rabbits out of the hat by planning to turn 1,000 crores into 20,000 crores.
According to The Economic Times, the company has already been in talks with various banks including State Bank of India, Bank of Baroda to increase their economy by setting up plants covering various regions of the country.
Established 10 years ago in 2006, Patanjali has given competitors like Hindustan Unilever, Emami and Godrej a run for their money. Till now, the company had been taking loans to meet their working capital. Banks like PNB, SBI, HDFC and ICICI have lent credit to the company.
If statistics are to be believed, the demand for Patanjali products is far more than the supply which has only been possible due to the hard work of the volunteers and employees of the company which has been the main reason for this company’s growth. It is believed that Patanjali may cross revenues of over 20,000 crores by the year 2020.
As per reports in August 2015, Patanjali saw its revenue quadrupled in the last 4 years which forced companies like Nestle into action. Nestle announced recently that it will launch upto 25 new products across various categories in the coming 2-3 months.
The recent ban on Maggi was one of the reasons for consumers preferring Patanjali products but after the ban got lifted Nestle has planned to launch seven variants of Maggi noodles.
But whichever new products are launched, Patanjali is here to stay and it will surely be ahead of the pack and give companies like Britannia, Dabur and Nestle the competition to improve their products.