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Patanjali Struggles For Second Straight Year
Ratings agencies downgrade the company after weakening financial profile.
08 Apr 2019, 02:29 PM IST
Patanjali Ayurved Ltd. has had a second straight bad year as it struggles with a broken supply chain and faces competition from consumer goods makers it challenged as an upstart.Yoga guru Ramdev-backed company’s revenue and profit continued to decline in 2018-19, Brickworks Ratings said in its March 30 report while rating a proposed Rs 1,000-crore debt issue of the maker of Dant Kanti toothpaste and Kesh Kanti shampoo.Patanjali regis...
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