Patanjali Ayurved, the FMCG venture promoted by televangelist Baba Ramdev, on Tuesday said that it had clocked a turnover of Rs 5,000 crore during FY16 and aims to double it to Rs 10,000 crore during the current fiscal.
The revenue target, if achieved, will put Patanjali Ayurved ahead of multinationals such as Procter & Gamble, Nestle and Colgate-Palmolive in India.
Patanjali Ayurved has 4 business divisions: health drinks, home care, cosmetics and health and food and beverages. Ramdev said that the company would venture into animal feed and khadi products this year.
Patanjali Ayurved has 10,000 stores, 4,000 distributors and 100 mega-marts. In 2015, the company tied up with retail chains Reliance Retail and Future Group.
In order to meet the increasing demand, the company will set up at least 4 new manufacturing units in the current year at a cost of Rs 1,000 crore.