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Soon Buy More Than Just Patanjali Chyawanprash: Baba Ramdev Indicates IPO Launch Within A Month
Baba Ramdev at a programme in New Delhi. (Photo by Sonu Mehta/Hindustan Times via Getty Images)
Responding to a question about whether there were any plans for a public listing of Patanjali Ayurved, Baba Ramdev on Wednesday (12 December) indicated that the company would announce some “good news” relating to the same in a month or so, reports Economic Times.
Patanjali Ayurved has grown at breakneck speed in recent years to challenge the market dominance of multi-national FMCGs in a variety of sectors. The home-grown company has grown to Rs 10,000 crores in revenue in FY16 from just Rs 500 crores in FY12.
The company has plans to double its annual revenues within three to five years from now. But recently, a surprise fall in sales has put the breaks on the company’s rapid rise. Patanjali’s standalone consumer goods revenue fell to Rs 8,148 in the year ended March 2018, a decline of greater than 10 per cent.
A report by CARE Ratings attributed the declining sales numbers to the company’s failure to adapt quickly enough after the introduction of GST and its inability to properly develop its distribution network.
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