Patanjali Foods launches 14 products to push its premiumisation strategy

Patanjali Foods on Friday launched 14 products as it begins to push its premium strategy.

The products belong to Nutrient Slices, Healthy Biscuits, Nutrela Millet-based Cereals and Dry Fruits.

At the press conference, Baba Ramdev, who runs the group, said that in a few years, two or three of the group’s companies, including Patanjali Ayurved and Patanjali Wellness, will launch their initial public offering.

In September last year, the company said that it will list Patanjali Ayurved, Patanjali Wellness, Patanjali Lifestyle and Patanjali Medicine within five years and is targeting Rs. 5 trillion as a market value of the group.

Baba Ramdev said he was targeting Rs. 1 trillion turnover for the group in five years.

Sanjeev Asthana, CEO of Patanjali Foods, said the aim was to get 80 percent of the company’s profits from FMCG and the rest from the 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 Rs. 8,000 crore by FY28.

The company launched Nutrela Sports with six products such as powders, vitamin capsules and nutritional supplements, it said in its release.

Nutrela has launched MaxxMillets and has plans to have a series of millet-based products.

It also launched Ragi and Digestive biscuits.

Healthy biscuits category in India has a 5 percent share in the Indian biscuits market at around Rs. 45,000 crores. Backed by its massive manufacturing and distribution infrastructure, Patanjali Foods said in its release that the company has ambitious plans to occupy 10 percent of the category by the end of this year.

Patanjali Foods’ biscuit business covers more than 1 million retail outlets and the initial plan will be to place the new products in more than 100,000 supermarkets, modern form stores and first-class outlets.

“The full launch of these healthy biscuits is expected to improve the profile of the biscuit business,” she said.

It is expanding its dry fruits business to Rs. 1,000 crore in five years.