Patanjali Ayurved

Patanjali Ayurved, (commonly known as Patanjali), is an Indian multinational consumer packaged goods company based in Haridwar, India. It was founded by Baba Ramdev and Acharya Balkrishna in 2006. [4] Its registered office is located in Delhi, with manufacturing units and headquarters in the industrial area of Haridwar.[5] The company manufactures cosmetics, ayurvedic medicine, and food products.[6]

Patanjali Ayurveda
TypePrivate[1]
Industry
Founded2006; 15 years ago (2006)
Founder
Headquarters,
Area served
[2]
Products
RevenueIncrease ₹30,000 crore (US$4.02 billion) (FY 2021 )
Increase ₹590 crore (US$80 million) (FY 2021)
Total assetsIncrease ₹4,345 crore (US$590 million) (2019)
OwnerBalkrishna (99.4%)
Number of employees
2,00,000 (2011–12)[3]
Subsidiaries
Websitewww.patanjaliayurved.org

DescriptionEdit

The CEO of the company with 94% shareholding is Balkrishna, while Ramdev represents the company and makes strategic decisions.[7][8] Products sold by the company range from hand sanitizer, food products and herbal toothpaste, to ayurvedic medicines.[9]

HistoryEdit

Ramdev established Patanjali Ayurved Limited in 2007 along with Balkrishna.[10][11] Balkrishna owns 94% of the company and the remaining is dispersed among other individuals.[8] As of May 2021, Balkrishna had a net worth of US$2.3 billion.[12]

According to CLSA and HSBC, Patanjali was one of the fastest-growing FMCG company in India in 2016. It was valued at 3,000 crore (equivalent to 37 billion or US$490 million in 2020).[13][14][15] Patanjali declared its annual turnover of the year 2016–17 to be estimated at 10,216 crore (US$1.4 billion).[16] According to a report by India Infoline (IIFL), at least 13 listed companies would be affected by Patanjali's success including Colgate, Dabur, ITC, and Godrej Consumer.[15]

RevenuesEdit

Year Revenues

( in Crores)

2010-11 100
2011-12 300
2012-13 841
2013-14 1,184
2014-15 2,006
2015-16 8,000
2016-17 10,526 [17]
2017-18 9,500 [18]
2018-19 8,330 [19]
2019-20 9,022

Future Group, which has tied up with Patanjali sells about 30 crore (US$4.0 million) worth of Patanjali products every month.[20][21][22]

ProductionEdit

Patanjali Food and Herbal Park at Haridwar is the main production facility operated by Patanjali Ayurved. The company has a production capacity of 35,000 crore (equivalent to 400 billion or US$5.3 billion in 2020) and is in the process of expanding to a capacity of 60,000 crore (equivalent to 730 billion or US$9.7 billion in 2020) through its new production units at several places, including Noida, Nagpur, and Indore.[18][23][24]

In 2016, the Patanjali Food and Herbal Park were given a full-time security cover of 35 armed Central Industrial Security Force (CISF) commandos.[25][26][27] The park will be the eighth private institute in India to be guarded by CISF paramilitary forces.[27] Ramdev himself is a "Z" category protectee of central paramilitary forces.[27]

In 2017, the Patanjali group launched their official Caller Tune with their slogan 'Swadeshi Swabhiman, Rashtra Seva Ka Abhiyan' music composed by Vaibhav Saxena.[28]

ControversiesEdit

Ramdev has 100 cases filed against him by the Government of Uttarakhand, citing various offences.[29] Among these, 81 cases against the Patanjali Yog Peeth and its sister concerns in Haridwar were registered for violations of the Zamindari Abolition and Land Reforms (ZALR) Act and the Indian Stamps Act.[30]

The company has been accused of misleading advertisements[31][32] about its products and flimsy testing before being launched to market.[33] Between April 2015 and July 2016, 33 complaints were received against 21 misleading advertisements, 17 of which were found to violate ASCI standards.[34] In September 2017, the Delhi High Court has ordered the company to stop airing an advertisement that promotes its brand of Chyavanprash that disparaged a competitor's.[35] Its products such as amla juice[36][37] and ayurvedic medicines[38] have been banned due to their poor quality.

Patanjali has also been surrounded by controversies regarding the working conditions where Ramdev and Acharya Balkrishna are treated as gurus, whose feet must be touched each time they enter an area. Workers are paid a salary of 6,000 (US$80) per month while working 12-hour shifts 6 days a week.[37] They are also discouraged to ask for a raise as working at a factory is considered "seva" (service) to the cause.[39]

On 22 May 2021, the Indian Medical Association (IMA) in Uttarakhand sent a defamation notice of 1,000 crore (US$130 million) following a number of remarks made by Ramdev regarding doctors practising allopathic medicine.[40][41]

"Infertility cure"Edit

One of the products manufactured by Ramdev's Divya pharmacy and sold by Patanjali Pharmacy chain was named "Divya Putrajeevak Seed" and was described in the catalog as a natural herb which, according to the company, could treat infertility. However, doctors pointed out the misleading name of the drug as the word "Putrajeevak" in Hindi means "son's life." Some Patanjali Pharmacy stores sold the drug claiming that it would ensure the birth of a boy, which reportedly led to a rise in the sale of the drug among people who wished to have a son.[42]

In July 2015, the issue was raised in the Indian Parliament by members of the Opposition party who accused Ramdev of "peddling a product which promised delivery of male children." However, the Ministry of AYUSH, which oversees the sale of alternative medicines, defended the product's name, saying the medicine was named after a herb.[43]

In 2016, the Uttarakhand health department said that the drug by Patanjali Ayurveda violated the Indian law, Pre-Conception, and Pre-Natal Diagnostic Techniques Act, 1994.[44] In 2018, the Maharashtra government ordered a probe on the drug over charges that it violated laws. Congress leaders in the state demanded a ban on the drug.[45]

Ban Ganga river pollutionEdit

In January 2018, villages in Haridwar district complained that one of the Patanjali's factories named Padarth was polluting Ban Ganga rivulet and a few other rain-fed water bodies in the locality by releasing effluents. As per locals, the chemicals released by the factory killed several animals in the area over the years. The villagers had complained, but the local government took no action on the factory due to the influence of Ramdev. Residents of 40 villages had threatened agitations due to the inaction of the local bodies in taking action against the pollution.[46] Uttarakhand Environment Conservation and Pollution Control Board directed a clean-up of the Begum nullah flowing through the area. In the past, the board had served a notice to Padartha over the release of untreated industrial effluents into local water bodies. Patanjali's General Manager denied the allegations and claimed that it followed the protocols.[46]

Suspension of Amla juiceEdit

The Ministry of Defence canteen stores department (CSD) has suspended Patanjali Ayurved's amla juice after receiving an adverse state-laboratory test report on the product.

The move came after the product was tested at the central food lab that found the product unfit for consumption. After which, the CSD asked all its depots to make debit notes for their existing stock so that the product can be returned.[47][48]

Notice by FSSAIEdit

Patanjali launched instant noodles on 15 November 2015.[49][50][51] Food Safety and Standards Authority of India slapped a notice on the company as neither Patanjali nor Aayush, which are the two brand names under which Patanjali got licenses, have got any approval for manufacturing instant noodles.[52][53][54][55] At Rajasthan, mustard oil sold by Patanjali has been found to be substandard by the Food Safety and Standards Authority Laboratory in Alwar.[56]

Loan default by Ruchi Soya IndustriesEdit

In April 2020, Ruchi Soya Industries, which was acquired by Patanjali in 2019 was revealed to be among the top 50 wilful loan defaulters of India, with a loan of 2,212 crore (US$290 million) written off by the RBI. Ruchi Soya was a loan defaulter before being acquired by Patanjali Ayurved in a distress sale.[57][58][59]

Fake COVID-19 treatmentEdit

In June 2020, Patanjali Ayurved announced a drug named Coronil for COVID-19 treatment, and Ramdev claimed that it cured Covid-19 patients.[60][61][62] There was no clinical data to prove that these new drugs were effective or even safe, and this prompted a backlash on social media, with people questioning the role of the Ministry of AYUSH.[63] Within hours of the launch, the Ministry of AYUSH issued a statement, denying having given clearance for the launch of the new drugs and asking the company to stop selling or advertising the product until the trial results were examined by medical authorities.[64][65][66] An officer from the Ayurved department of the Government of Uttarakhand stated that the approval application for the new drugs had not mentioned COVID-19.[67]

Lab tests have shown that the drug did not contain any ingredients that could treat coronavirus infections nor protect against such infections. The Indian government allowed Patanjali Ayurved to market Coronil as an immunity booster but not as a cure,[62] but the Government of Maharashtra has banned the sale of Coronil in the state. Lawsuits were filed in Bihar and Rajasthan against Ramdev, Balkrishna, and others, accusing them of cheating and selling fake medicines.[68][69] The Madras High Court has fined the company 1,000,000 (US$13,000) for making false claims about the drug. Patanjali has withdrawn the claim of Coronil being a cure for Covid-19. The UK drug regulator has threatened action if unauthorized products were sold in the UK market.[62] In February 2021, the company claimed that Coronil had received a WHO certification for use against Coronavirus. These claims were withdrawn after it had been shown that the approval did not come from the WHO, nor did it address the effectiveness of the drug, but was a GMP licence from the Drugs Controller General of India regarding the manufacturing of the product.[70]

The Government of Maharashtra banned Coronil in the state in June 2020, with home minister Anil Deshmukh threatening the company with legal action if they did not respect the ban.[71] Following the launch two FIRs were registered in Bihar and Rajasthan against Ramdev, Balkrishna, and others, accusing them of cheating and selling fake medicines.[68][69] Patanjali responded to the accusations claiming that they did not violate any procedure leading up to the launch.[72] Patanjali has withdrawn the claim of Coronil being a cure for Covid-19.[62]

The Madras High Court has also barred Patanjali Ayurved from using the trademark ‘Coronil’.[73][74] The court’s order came while hearing a suit filed by a Chennai-based firm that claimed that ‘Coronil’ is a trademark owned by it since 1993. While making an absolute interim injunction passed earlier against Patanjali, Justice C.V. Karthikeyan also imposed a fine of Rs 10 lakh on the company.[75][76] The judge in its ruling also observed that Patanjali has been “chasing further profits by exploiting the fear and panic among the general public by projecting a cure for the coronavirus when their ‘Coronil Tablet’ is not a cure”.[77][73][78]

Countries like Nepal & Bhutan have stopped the distribution of Coronil kits after the order from Government to clarify that it's not an equivalent to medicines to defeat COVID-19 virus.[79][80]

False claims regarding government and WHO approvalsEdit

In February 2021, several news outlets, including Indian Express, Times of India, The Hindu, and Livemint carried reports that Patanjali Ayurved claimed that Coronil had received approval from the Ministry of AYUSH as well as certification from the World Health Organization. These reports indicated that Ramdev had, at a press conference attended by Union Health Minister Harsh Vardhan and transport minister Nitin Gadkari, released studies showing that Coronil was effective against COVID-19.[81][82][83][84] The claim was first reported by Channel News Nation, which did an exclusive interview with Ramdev, in which he accused medical doctors of engaging in 'allopathic terrorism' concerning doubts about the effectiveness of Coronil.[85] The claim was endorsed by Bharatiya Janata Party spokesperson, Sanju Verma, who described it as "....a huge endorsement for Ayurveda India's homegrown StartUp ecosystem that has flourished under @narendramodi govt."[85] Verma, speaking for the BJP, also described the approvals granted to Coronil as a "slap in the face" to the BJP's political opposition.[86]

In response to these claims, the World Health Organisation on 22 February clarified that it had not "...reviewed or certified the effectiveness of any traditional medicine for the treatment #Covid19.”[87] Several news and fact-checking outlets, including The Wire, Alt News, and Economic Times ran fact-checking articles debunking the claims made by Ramdev and Patanjali, and demonstrating that Coronil had merely received a license for export, and had not received any approval regarding its effectiveness as a treatment against Covid-19.[88][89][85] Following this, the CEO of Patanjali Ayurveda, Acharya Balkrishna, admitted on Twitter that the approval received for Coronil had not come from either the WHO or the Ministry of AYUSH, as they had earlier claimed, but had been granted by the Drugs Controller General of India only for exports, and not as a certification of effectiveness.[85][88]

ProductsEdit

 
Toothpaste by Patanjali Ayurved

Patanjali Ayurved produces products in the categories of personal care, cosmetics, ayurvedic products, and food products.[90][91][92] In November 2018, the company started selling clothing, opening a store in Delhi under the name Patanjali Paridhan.[93]

Sales and distributionEdit

Patanjali Ayurved sells through nearly 4,700 retail outlets as of May 2016.[91][94] Patanjali also sells its products online and is planning to open outlets at railway stations and airports.[95] Patanjali Ayurveda has tied up with Pittie Group and Kishore Biyani's Future Group on 9 October 2015.[91] As per the tie-up with Future Group, all the consumer products of Patanjali will be available for direct sale in Future Group outlets.[96][97][98] Patanjali Ayurveda products are also available in modern trade stores including Reliance Retail, Hyper City and Star Bazaar apart from online channels.[91][99][100][101][102] Patanjali Ayurved, co-founded by yoga guru Ramdev, is targeting 10,000 crore (US$1.3 billion) revenue in 2016–17, after-sales grew 150% in the previous financial year to 5,000 crore (US$660 million).[103]

Patanjali Ayurved has also started its FMCG expansion in form of dealership and distributorship channels across the country and expects wider growth in overseas distribution as well.[104]

AcquisitionEdit

In December 2019, Patanjali acquired bankrupt Ruchi Soya Industries at a valuation of 4,350 crore (US$580 million). At present, Ruchi Soya is a mid-cap company listed on NSE and BSE in India. It's a major soybean product player in India.[105]

See alsoEdit

ReferencesEdit

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