Patanjali Foods plans to invest Rs 1,500 crore in next five years: Asthana
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The company (formerly Ruchi Soya) is targeting a turnover of Rs 45,000-50,000 crore in the next five years. Asthana told PTI, “We estimate that in the next five years, we will make a capital expenditure of about Rs 1,200 crore to Rs 1,500 crore. Most of the investment will happen in the fourth and fifth years.
New Delhi. Patanjali Foods Ltd plans to invest Rs 1,500 crore in the next five years. Giving this information, the company’s Chief Executive Officer (CEO) Sanjiv Asthana said that most of this investment will be done on the palm oil business. The company is expanding its product offering and distribution reach. The company (formerly Ruchi Soya) is targeting a turnover of Rs 45,000-50,000 crore in the next five years. Asthana told PTI, “We estimate that in the next five years, we will make a capital expenditure of about Rs 1,200 crore to Rs 1,500 crore. Most of the investment will happen in the fourth and fifth years.
On the question of where this investment will be made, Asthana said, “A large part of it will be on palm oil business.” On palm oil cultivation, Asthana said, “We have about 64,000 hectares of land. We already have a great business. Under the National Mission on Edible Oil-Palm Oil, we have made a commitment to cultivate and grow five lakh hectares of palm in five states of the North East…Assam, Arunachal Pradesh, Mizoram, Tripura and Nagaland. He said that in South India, we are already present on a larger scale in Andhra Pradesh. Now we are going on a big scale in Telangana and Karnataka. Apart from this, we are also reaching out to other states of Odisha, Chhattisgarh and Gujarat.
We are running a very big campaign.” Asked about the business target, he said, “It is more than Rs 31,000 crore now and it is expected to be between Rs 45,000 crore and Rs 50,000 crore in the next five years.” The company is confident that premium offerings in ‘Nutraceuticals’, health biscuits, Nutrela millet-based cereals and dry fruits will help it achieve its target for the next five years. Asthana said the company’s Nutrela brand is expanding. On the biscuit business, he said the company has earned a revenue of Rs 1,200 crore in it. “This year we aim to take the biscuit business to over Rs 1,500 crore.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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