Patanjali to open branch in Andhra Pradesh

     Written by : SMTV24x7 | Fri, Apr 21, 2017, 04:19 PM

Patanjali to open branch in Andhra Pradesh

New Delhi, April 21: The CEO of Patanjali Ayurved Ltd.Acharya Balkrishna had announced that the company is planning to expand globally and will nearly meet its revenue target of Rs 10,000 crore for the financial year 2016-17 on Thursday.

The company reported net revenue of Rs 2,014 crore in the financial year 2014-15, according to data provided on the website of the Ministry of Corporate Affairs, and was expected to report a 146 percent surge in the same to Rs 5,221 crore during 2015-16, according to a report .

Already the Patanjali has facilities in Haridwar in Uttarakhand, Tezpur in Assam, and Kathmandu in Nepal, is in the process of expanding its operations and plans to set up four manufacturing units during 2017-18, one each in Noida in Uttar Pradesh, Nagpur in Maharashtra, Indore in Madhya Pradesh, and in Andhra Pradesh, Balkrishna said.

While Speaking to media at an event organized by Federation of Indian Chambers of Commerce and Industry (FICCI), Balkrishna pinned the Indian food processing industry at less than Rs 1 lakh crore and said Patanjali is looking to double its market share in the segment to 20 percent in the current financial year.