The close aid of Baba Ramdev, ranked 26 among 339 in the Hurun India Rich List of individuals having Rs 1,600 crore
Patanjali CEO Acharya Balakrishna, who didn't even have a personal bank account ten years ago has surpassed India's elitists like Rahul Bajaj, Adi Godrej, Ajay Piramal and Ravi Ruia. The 44-year-old, who is a close aid of Baba Ramdev, ranked 26 among 339 in the Hurun India Rich List of individuals having Rs 1,600 crore.
The company which started as a small pharmacy in 2007 has grown 10 times since its launch in 2011-12, overtaking major FMCGs like Emami, Dabur and Marico. With an aggressive approach to capture markets, the Patanjali group registered a turnover of Rs 5,000 crore and expects to hit Rs 10,000 crore in 2017.
Balakrishna stated that Patanjali operates at a 8-10% profit margin out of which profits are reinvested in innovation and capacity expansion to further bring prices down. Unlike most companies that conduct market research before entering new segments, Patanjali almost simultaneously launched its products in multiple categories like toothpaste, biscuit, beauty care, etc. The company further plans to venture into apparels and launch 'swadeshi jeans' by the end of the year or early next year. "There is a great demand from youths, and therefore Patanjali has decided to launch the Indianised jeans to compete with foreign brands," said Baba Ramdev.
In 2011, the Central Bureau of Investigation (CBI) arrested Balakrishna on charges of cheating and forgery. It was claimed that his passport was issued based on forged educational documents, and his 'citizenship' was also questioned. It was also alleged that he owned a pistol without a legal permit. Subsequently, the Enforcement Directorate also filed a case against him on charges of money laundering, which was dismissed after two years of investigation due to lack of evidence.
Balakrishna currently owns 94% of Patanjali's shares and is worth Rs 25,600 crore (approximately $3.8 billion). His birthday on 4th August is celebrated as 'Jadi Booti Divas' (Herb Day) by the Patanjali Group.
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