There is no denying the fact that ‘Yoga Guru ’, Baba Ramdev after making waves on the global platform in yoga is ready to take on the corporate world by stride.
Patanjali, founded by Baba Ramdev and Balakrishna has been giving a tough fight to the existing players in foods, beverages, cleaning agents and personal care range and is growing multifold with the addition of newer goods to its product basket .
Till now, Patanjali, has generated a revenue of Rs 5,000 crore for the year 2015-2016 and is all set to take on the business giants with an added investment of Rs 1000 Crore.
Sources revealed that Patanjali is now planning to raise Rs 1000 crore as its first project loan for diversifying products base and for better facilities for R&D. The company deals in providing home-grown consumer goods and is considered one of the pioneers in the business that uses ayurvedic techniques in some of the methods.
In order to achieve the 1000 Cr target, the company is trying to break in conversations with several banks such as State Bank of India, Bank of Baroda, Uco Bank etc.
The company plans to utilise the amount in expanding its reach by setting up plants across the length and breadth of the country. Public sector banks including Punjab National Bank and SBI have earlier extended credit facility to the company but not long term project loans. In the past several private banks have shown interest in funding the firm.
Currently, the company is looking for a long term loan with 5-10 years maturity period. Once it manages to crack the deal, Patanjali will be spreading its wings in other parts of the country. The company manufactures a large number of fast-moving consumer goods including shampoo, soaps, tooth paste and herbal and ayurvedic products. It aims to double its production capacity to 2,000 tonnes a day by the end of 2016-17. Its new product lines may include baby foods, cattle feed without urea and others.
Patanjali has already locked horns with Nestle by launching its patanjali noodles, giving a tough run to Maggi. Now, it is aiming to set up noodles making plant in national capital region, Madhya Pradesh, Karnataka and Andhra Pradesh.