WHARTON, PENNSYLVANIA, June 15, 2017 (Knowlege @ Wharton): Can an Indian yoga master and spiritual guru pose a threat to established multinationals in the fast moving consumer goods (FMCG) market in the country? Baba Ramdev, a 51-year-old politically networked saffron-robed yoga expert and astute businessman, certainly believes so. Patanjali Ayurved, the company he front-ends, recently posted revenues of Rs.10,561 crore ($1.6 billion) for the financial year 2017 (April 1, 2016 to March 31, 2017). That's double of what it posted last year. What's more, while most FMCG firms in the country grew around 8% to 12% annually over the past five years, Patanjali has grown over 20 times.
Positioned on the plank of ayurveda and the goodness of natural ingredients, Patanjali prides itself on being a home-grown brand that offers its products around 15% to 30% cheaper than competition and ploughs back its profits into nation-building activities such as education and supporting farmers. It is the fastest growing FMCG firm in the country and has one of the widest product portfolios. In January this year, a study by the Associated Chambers of Commerce and Industry of India (ASSOCHAM) and market research firm TechSci Research, said: "Patanjali Ayurved has turned out to be the most disruptive force in the Indian FMCG market."
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