Patanjali Increases Ad Budget By 145% To Rs 424.7 Crore In FY2024

Patanjali Ayurved's advertising and sales promotion spends surged by 145.3 per cent to Rs 424.7 crore in FY24, up from Rs 173 crore in FY23. The FMCG brand plans to bolster its market presence further by engaging brand ambassadors and increasing media expenditures.

In the company's latest annual report, it said, “The company is determined to expand the strength of its brands through numerous activities – including onboarding brand ambassadors and increased media spends.”

Patanjali reports that its Fibre Atta biscuits, marketed under the brand name Doodh have become a major contender in India's biscuit market, achieving a brand value exceeding Rs 1,000 crore.

Patanjali's profit decreased by 13 per cent, falling from Rs 886 crore in FY23 to Rs 765 crore in the most recent fiscal year. The company attributed this decline to rising 'employee costs, depreciation and other expenses'. Patanjali currently employs 4,197 permanent employees and has 1,365 permanent workers.

The company reported a 39 per cent drop in exports with figures falling to Rs 323 crore in FY2024 from Rs 530.7 crore in FY23. The company attributed this decline to 'intense competition in the international market'.

Patanjali's revenue share from edible oils fell from 80.3 per cent in FY23 to 69.7 per cent in FY24. Conversely, the food and FMCG sectors saw an increase with their share rising to 30.1 per cent in FY24 from 19.5 per cent in FY23. The revenue from the food and FMCG segment reached Rs 9,643.32 crore in FY24.

"We have intensified our focus on increasing the revenue mix of our food and FMCG segment, which now contributes approximately 30% to the total revenue, up from around 20% last year," the company stated.