Patanjali Foods earmarks capex of up to Rs 1,500 cr in 5 yrs: CEO Asthana

Patanjali Foods Ltd plans to invest up to Rs 1,500 crore in the next five years on capital expenditure, mostly for scaling up its palm oil business, according to company CEO Sanjeev Asthana.

The company (formerly Ruchi Soya Industries) has set a target of clocking a turnover between Rs 45,000-50,000 crore in the next five years as it expands its product offerings and distribution reach.

"Our estimation is over five years, we'll invest about Rs 1,200 crore to Rs 1,500 crore of capital expenditure...Most of the expenditure will happen in year four and five, which is where we are pushing for and the rest in the initial years. We have enough capacity and capex already laid out," Asthana told PTI.

He was responding to a query on the company's investment plans in order to meet its growth targets.

When asked where the investments will be made, he said, "A large part of it will be on oil palm".

On the palm oil plantation, Asthana said, "We have got about 64,000 hectares which are already