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Today we are going to discuss this topic and resolve the exaggeration of our friends that how to successfully grow a business empire and to resolve this skeptical situation we would like to state a perfect example of a company which is making huge profits and is giving competition to numerous multinational companies.
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Patanjali Ayurved Limited is one of the Indian leading consumer goods company and interestingly its whole profit from Patanjali Products goes to charity. Its registered office is located at Delhi however, its manufacturing units and headquarters are located in the industrial area of Haridwar. Patanjali declared its annual turnover of the year 2016-17 of about ₹10,216 crore (US$1.5 billion) and according to CLSA and HSBC, Patanjali is the fastest growing FMCG company in India. Baba Ramdev and Acharya Balkrishna established the Patanjali Ayurved Limited in 2006 with the objective of spreading science of Ayurveda blended with the latest technology and Balkrishna owns 98.6% of Patanjali Ayurved and has a net worth of US$6.1 billion.
Acharya Balkrishna is the CEO of Patanjali company holding approximately net worth of Rs 70,000 Crore with 10,500 Crore turnover and more than 400 SKUs having eminent leadership qualities and is an egregious competent person and because of their active decisions, this company's profit is getting doubled in every year from 2012 to 2017.
According to some top leaders in Patanjali organization, it is clear that Acharya Balkrishan is very dynamic and development oriented leader and regardless of getting birth in a poor family and not receiving any degree from the university he is holding a supreme position in Patanjali company and is managing the company better than any person holding a degree of entrepreneurship form top most college of the world. He is adamant in doing numerous things in less time and is known for implementing major decisions with the core team in few minutes as he is against bureaucracy in making decisions and continuously remain engaged in quenching and evaluating the opportunities and interestingly his withdrawal from the company is almost negligible as he always puts the company's interest above his self-interest.
The most important factor he always considers while hiring any of the employees is their competence and most importantly their character is the foremost requirement while selection. The thing which makes the brand Patanjali different from other companies is that other companies launch new products with different branding different from the name of their parent companies.
For example, Reckitt Benckiser Company is a British multinational consumer goods company and have numerous products in India with different names such as Dettol, Lysol, Mortein, Air Wick, Durex, Veet, Harpic, Vanish and Strepsils.
Hindustan Unilever Limited is a consumer goods company based in Mumbai, Maharashtra. It is a subsidiary of Unilever, a British-Dutch company and have numerous products in India with different names such as Axe, Dove, Lifebuoy, Lipton, Lux, Pepsodent, Vaseline, Ponds, Sunsilk, Rin, Fair & Lovely, Surf Excel, Kissan, Lakme, Domex, Pears, Bru, Kwality Wall's, Rexona, Vim.
Procter & Gamble Co. is an American multinational consumer goods corporation and its products are like Tide, Ariel, Gillette, Olay, Oral - B, Pantene, Pampers, Vicks, Duracell, Head & Shoulders and Ambi Pur
As these companies spend a plethora of money on the advertisements of their numerous different product lineup but Patanjali company refused to do so as they do not want to waste a lot of their money and time on advertisements so they focused to promote their brand name rather than promoting different products by giving each product a separate name which resulted in the creation of a host of products.
Yoga guru Swami Ramdev said in 2018-19 that his fast-moving consumer goods (FMCG) company, Patanjali, will overtake Unilever and others and by 2020-21 Patanjali would become the world’s largest FMCG brand. Management that is been executed by Patanjali Group is very fascinating as they continuously focus on advertisements, supply chain, vendor compliance, manpower network and the most important factor which makes it different from other products in the market is their quality and extremely competitive rates and to prepare all these 400 SKUs in India's largest food park which is approximately 50 lakh square feet and largest research and development center in India with more than 350 scientists. The company manufactures mineral and herbal products in Nepal under the trademark Nepal Gramudhyog and imports majority of herbs in India from Himalayas of Nepal. The most important factor of the success of this company is the consumer demand due to which even though at low margins retailers have to keep the products of Patanjali because of demand that is been generated because of effective advertisements and alternative distribution channels of Patanjali products and because of these factors e-commerce markets are also giving a lot of attention to Patanjali products and in future their plan is to enter in the field of power, security and clothing on to procure the interest of common people.