New Delhi, Jan 24 (SocialNews.XYZ) Patanjali Ayurveda and Ruchi Soya, which was recently acquired, will register a joint turnover of Rs 25,000 crore in the fiscal year ending March 2020, yoga guru Ramdev said on Friday.
The company will work with the aim to make India self-dependent in production of edible oils, he added.
Ramdev also said Patanjali Ayurveda and Ruchi Soya will work hand-in-hand to achieve a turnover of over Rs 25,000 crore this year.
Speaking to the media here at the Constitution Club, Ramdev said: "The company will register a joint turnover of Rs 25,000 crore in the current fiscal ending March 2020, in which around Rs 12,000 crore would be contributed by Patanjali group firms and Rs 13,000 crore will come from Ruchi Soya, he said.
The yoga guru also claimed that over the next two years, 25 per cent shares of Ruchi Soya will be liquidated as per the Securities and Exchange Board of India (Sebi) guidelines.
He emphasised that the company aims to reduce the country's dependency on foreign nations for edible oils.
He also named Malaysia and blamed the country for interfering in India's internal matters only because India was importing palm oil from Malaysia.
"How can Malaysia speak in our internal matter, who gave their nation heads' right to speak on CAA. They speak because we are dependent on them for palm oil," Ramdev claimed.
With the acquisition of Ruchi Soya, Pantanjali's line will get more diversified and the management will make sure that two entities do not compete with each other, he added.
"Both entities will function in different markets, we will also launch three new products under the Ruchi Soya brand," Ramdev said.
"These products will include premium Oil Nutrela Gold, Nutrela Honey and Nutrela Protein Atta," he added.
With Ruchi Soya, the company also aims to double its reach in the next five years to 50 crore people from the existing 25 crore.
"We have a target to expand our reach to 50 crore people in the next five years," he said.
Patanjali, had acquired Ruchi Soya in a Corporate Insolvency Resolution for around Rs 4,500 crore.
Source: IANS
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