Hyderabad: Patanjali group's turnover recently touched Rs 30,000 crore last fiscal on the back of the acquisition of Ruchi Soya, and said it is being evaluated when to list his flagship firm Patanjali Ayurveda, Baba Ramdev, founder of the Patanjali groups announced. Ruchi Soya, which the Patanjali group acquired through the insolvency process, contributed more than half to the overall turnover of the group. Ruchi Soya primarily operates in the business of processing of oilseeds, refining of crude edible oil for use as cooking oil, manufacturing of soya products and value-added products.
Speaking to ETV Bharat's Vishal Suryakant, Baba Ramdev said that the success and the growth is the result of teamwork of the group. Crores of people in India trust us and we want to keep that trust unbroken. We want the country to be self-reliant and end the monopoly of foreign companies. When asked about the follow on public offer (FPO) of Ruchi soya, Ramdev said that the people want to invest in the shares of the company as the trust level has increased among them. We, however, do not consider it as a game and would like to deliver on the basis of performance and we hope to deliver more than people's expectations. He further said that the group has already approached the SEBI and hope it gets cleared soon. There is a plan to bring it in a very transparent way, he added. "At Ruchi Soya, whether it is an issue of governance or accountability, we will not hold any dispute on it any further. Our compliances are almost complete. We think that we will be in the midst of the people soon," Ramdev said. The company is also expected to rope in celebrities for Ruchi Soya as well as Patanjali's promotion.
When asked about the doubts that were raised in the market as promotors still hold 98 percent of the shares in the Ruchi Soya, Ramdev said that the company could have kept 100 percent of the shares if they had wanted, but those who had invested in it, they should get good returns.
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Further talking about the rising prices of edible oil, Ramdev said that the prices are rising because India is not self-sufficient and people are upset over the prices. We however, are working on the same and want the government to also take big steps in this direction. "We will try our best. I assure that India will become self-reliant in edible oil in the coming times," Ramdev said. The government should take strict steps to reduce the prices of food items and we expect that the government will definitely take some big and tough steps in this regard.
When asked about the threat it faces in the market from rival companies, Ramdev said that we have outwitted 99 percent of the companies, only one percent is left ahead of us. We will not do any illegal work, but will end their dominance in the right way. Our consumer base has grown and we will continue to work on aesthetics and wellness. "We have the world's largest research institute Patanjali Research Foundation. Even further, the money that we will have in Ruchi Soya will be spent in research only. Then it will be spent in education and agriculture. Our dream is to become the biggest inspiration of Local for Global initiative. We will set new dimensions and records every year, " he added.
Further taking on the imports, Ramdev said that we have broken our dependence on outside goods. Apart from this, it is our endeavor that 90 percent of our requirement should be supplied from India itself. Still, if anything is needed, it will be seen, but a big step has to be taken in production of edible oil. "There may be several difficulties, but there will definitely be a solution in this turmoil, " he added.
