By Sagrika Sanjay *
Acharya Balkrishna, the left hand man of Baba Ram Dev, who holds the coveted position of the CEO of Patanjali, is eighth richest man in India according to Patanjali. Patanjali as a brand stands out in the crowd for its “swadeshi approach” and use of natural ingredients. It is clever branding. It spurs Indian consciousness and reminds us of Swadeshi Movement.
To say Patanjali has taken the FMCG market by storm would not be wrong. In a short span of time it has registered a turnover of Rs 10,561 Cr in FY2017. Today Acharya Balkrishna sits pretty on 70,000 crore as personal wealth with 173 percent growth.
Acharya Balkrishna’s, who was not known to the public as much as Baba Ram Dev, rise is remarkable. He holds shares close to 94 percent in the company and it has said that he does not accept salary.
He believes it is the “hard work” that has given Patanjali the name and recognition in a short while. Patanjali is known to follow unconventional marketing practises.
Accordingly to Acharya Balkrishna “We don’t need to follow the standard marketing practices. If your basics are strong, then nobody can beat you,” as said in The Economic Times.
He is actively looking after all the tasks and operations, from hiring senior management, to dealing with the advertisements and running the day-to-day activities of the company. He is steering the company like a seasoned CEO.
Literally, ‘Balkrishna’s Patanjali has given FMCG majors a run for their money’ aptly said by The Business Today.
The Jury is still out if Patanjali will be able to maintain low cost considering R&D and manpower costs. Baba Ram Dev’s supporters are optimistic as the workers at Patanjali consider their work as service, and the company does need to satisfy shareholders.
Let’s wait and watch the next wave from the Baba Ram Dev and Acharya Balkrishna duo.