After giving major FMCG, and consumer goods companies – like HUL, Dabur, Colgate Palmolive et al – a run for their money with its ‘Ayurveda-based’ products, Patanjali Ayurved’s CEO, Acharya Balakrishna is now surpassing retail biggies in terms of the wealth he has.
Balakrishna, the man behind Patanjali Ayurved’s stratospheric success, has emerged as the richest new individual in the FMCG sector of Hurun India Rich List 2016 with wealth amounting to Rs 25,600 crore. The Hurun India Rich List is a snapshot of wealth as on 31 July 2016.
Dabur’s Anand Burman tops this list as the richest individual in the FMCG sector with a net worth of Rs 41,800 crore.
He is way ahead of Britannia’s Nusli Wadia and Marico’s Harsh Mariwala. While Wadia has net worth of Rs 20,400 crore (ranked 31), Mariwala is close on his heels (ranked 32) with Rs 19,600 crore.
In 2016 when most sectors failed to keep up the momentum, FMCG registered a decent growth of 14 per cent in terms of the cumulative wealth. Acharya Balakrishna’s Patanjali took the market by storm and is slowly taking over the market share of FMCGs – both Indian as well as MNCs.
Patanjali registered a turnover of Rs 5,000 crore and expects to hit Rs 10,000 crore in 2017.
The FMCG sector has also emerged as the second largest industry – preceded only by the pharmaceutical industry – that added the most number of new millionaires to the Hurun India Rich list. FMCG has contributed 11 new additions with a cumulative wealth of Rs 50,300 crore.
The annual Hurun list, now in its fifth year, ranks the richest people in the country with a minimum cut-off of Rs 1,600 crore. Mukesh Ambani of Reliance, Dilip Sanghvi of Sun Pharma and Pallonji Mistry of Shapoorji Pallonji are the three riches Indians according to the list.