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According to firm CEO Sanjeev Asthana, Patanjali Foods Ltd expects to invest up to Rs 1,500 crore in capital expenditure over the next five years, primarily to expand its palm oil business.

The company (previously Ruchi Soya Industries) has set a five-year revenue target of Rs 45,000-50,000 crore as it develops its product portfolio and distribution reach.

“We estimate that over the next five years, we will invest between Rs 1,200 and Rs 1,500 crore in capital expenditure…The majority of the spending will occur in years four and five, which is where we are aiming for, with the remainder occurring in the first two years. “We have enough capacity and capital expenditure already planned,” Asthana told PTI.

He was responding to a question on the company’s investment plans to accomplish its growth goals.

“A large portion of it will be on oil palm,” he stated when asked where the investments would be made.

“We have about 64,000 hectares that are already yielding fruits,” Asthana said of the palm oil plantation. That’s already a significant deal for us. We have committed to planting five lakh hectares more of palm oil under the National Mission on Edible Oil-Oil Palm in five northeastern states: Assam, Arunachal Pradesh, Mizoram, Tripura, and Nagaland.”

“We are already large in Andhra Pradesh, now we’re going big ticket in Telangana and Karnataka, and then the rest are other states like Orissa, Chhattisgarh, and Gujarat, among others,” he added of south India. So it’s a large campaign that we’re conducting, and we’re continuing to build on it.”

When asked about the revenue target, he stated, “As of now, it is more than Rs 31,000 crore, and our expectation is that it will be between Rs 45,000 crore and Rs 50,000 crore in the next five years.”

The business anticipates that its new premium offerings in nutraceuticals, health biscuits, Nutrela millet-based cereals, and dry fruits will contribute significantly to attaining the five-year plan.

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