Patanjali Ayurved’s ₹1,500-crore mega food park to begin operations on March 9

The Haridwar-based multinational conglomerate Patanjali Ayurved on Friday announced that its food processing plant, which has been set up in Nagpur with a ₹1,500 crore investment, will begin operations on Sunday, March 9.

The Patanjali Mega Food and Herbal Mark in Mihan, Nagpur will be inaugurated in the presence of Union Minister Nitin Gadkari, Maharashtra Chief Minister Devendra Fadnavis, and yoga guru Ramdev, among others, the company said.

The mega food park will have fruit and vegetable processing units with a capacity of 800 tonnes per day.

Acharya Balkrishna, Managing Director of Patanjali Ayurved Ltd, said at a press conference that the plant is expected to bring an agricultural revolution in the region and spread happiness in the lives of Vidarbha farmers. Patanjali’s orange processing plant in Nagpur is the biggest and most advanced in Asia, Balkrishna said. The plant will process orange, its by-products, and other fruits, he said.

Patanjali Ayurved FY24 results

The total income of Patanjali Ayurved, led by Baba Ramdev, grew to ₹9,335.32 crore in 2023-24 (FY24), jumping by 23.15% on the back of other income including OFS of its subsidiary Patanjali Foods, as per a company filing. Its total income stood at ₹7,580.06 crore in FY23. The company’s other income in FY24 stood at ₹2,875.29 crore as compared to 46.18 crore in the year-ago period, according to Tofler data.

Patanjali Ayurved’s revenue from operations, however, dropped by 14.25% in FY24 to ₹6,460.03 crore as it transferred its food business to Patanjali Foods in 2022. Moreover, its net profit climbed to ₹2,901.10 crore in FY24 as against ₹578.44 crore in FY23.

In July 2023, Patanjali Foods launched a two-day OFS (offer for sale) which was oversubscribed more than two times.

Patanjali Ayurved, a non-listed entity, engages in the ayurvedic product & FMCG business offering several hair care, skin care, dental care, home care, personal care, dairy products and bulk trading of food products, among others. Patanjali Foods, its major subsidiary, is listed on the bourses. Shares of Patanjali Foods Limited ended 1.4% down at ₹1,745 on the NSE on Friday, March 7.