For 34 years, this Delhi-based company has been using Ayurveda to cure diseases; clocks Rs 75 Cr turnover

Palak Agarwal
YourStory
June 3, 2020

Maharishi Ayurveda was founded by Anand Srivastava with an aim to rid people of their suffering through traditional medicines. After a span of 34 years, the company now clocks a turnover of Rs 75 crore and exports to the US, Europe, and other international markets.

India has a long history of using the age-old practice of Ayurveda to treat human ailments. Also known as the ‘mother of all healing systems’, Ayurveda was usually taught orally for thousands of years, and the knowledge has transcended through its followers.

The beginning of Ayurvedic company Maharishi Ayurveda also harks back to the time when Swami Brahmanand Saraswati, Shankaracharya of Jyotirmath, preached that ‘life is bliss’, and that ‘life reflects itself in suffering and stress when people do not accord with nature.’

Maharishi Mahesh Yogi took it upon himself to spread this message, along with propagating the Vedic sciences like Yoga, meditation, and Ayurveda.

Incorporated in 1986, Maharishi Ayurveda was created by Anand Srivastava with an aim to rid people of their suffering, and thereby, create a ‘disease-free society’.

In an interaction with SMBStory, Anand says,

“I connected with Maharishi Ji in the 1970s and was a follower of his teachings. My inclination towards Ayurveda started from there seeing the profundity of this science. Hence, with Maharishi Ji’s blessings, I thought to spread this knowledge and science by bringing forth Maharishi Ayurveda.”

Beginning the journey

For decades, ayurvedic medicines were sold in small wrapping papers and their circulation was limited. Even though traditional medicines had existed for centuries, there were very few people who were spreading the knowledge. Anand says,

“Maharishi Ji used to tell us that Ayurveda has the potential to eliminate the disease from society. You see, modern medicine only suppresses or balances the symptoms, it doesn’t cure. The ayurvedic treatment takes long, but it has the prospect to cure as it works on an individual and not the disease.”

Maharishi Ayurveda
Product range by Maharishi Ayurveda

Ayurvedic snacks: this entrepreneur is changing how we eat; sells Rs 5 lakh inventory in 6 months

The brand Maharishi Ayurveda inherited the classical formulations for medicines from the Vedic texts. Anand, along with Dr Balaraj Maharishi and others, developed the medicines for the brand.

The company started by setting up a manufacturing plant in SEZ Noida and later expanded to Faridabad and Baddi in Himachal Pradesh. In a span of 34 years, Maharishi Ayurveda diversified its product categories and now clocks Rs 75 crore turnover annually. The company also exports to the US, Europe, Australia, and other international markets.

Maharishi Ayurveda locally sources herbs — like Amla from Rajasthan, Himachal Pradesh, and Madhya Pradesh; Harhar from Madhya Pradesh; Ashwagandha and Shatavari from Rajasthan and Uttar Pradesh.

Challenges and competition

The current global Ayurveda industry stands at around $5 billion, with a healthy CAGR of 16 percent. This growth is expected to continue for the next decade. The Ayurveda companies can be categorised as traditional Ayurveda companies like Baidyanath, AIMIL, Dhootpapeshwar, etc. Consumer-led FMCG companies like Dabur, Emami, etc and wellness companies backed by research like Himalaya.

“Maharishi Ayurveda falls into the wellness zone as the company back its products and services with robust research evidence as well as internationally accepted certified manufacturing processes. This gives additional value to an Ayurveda Company, and this is our differentiator. We draw inspiration from our Ayurvedic texts but present our products in the most modern formats,” Anand tells SMBStory.

He says the biggest challenge is of the supply chain, adding that as an Ayurveda business, the company is dependent on multiple herbs being harvested from different parts of the country. The company is based on systems, and finds it challenging to have the same systems being implemented down the line to the very beginning of the supply chain — that is the farmer.

Over the years, the company has trained many farmers to turn to organic farming.

The other big challenge is ‘international regulatory’. Ayurveda comes under the ‘food supplement segment’ in the western world. This restricts the growth in the international markets.

The way ahead

Talking about the future prospects of the company, Anand says that Ayurveda is a sunrise industry. The company is also planning to establish nodule centres for training farmers and supporting them in growing herbs by supplying quality raw materials. It says the move will help generate farmer incomes. Going forward, Maharishi Ayurveda also plans to develop a direct-to-consumer channel with a disproportionate focus on the digital channels.

https://yourstory.com/smbstory/maharishi-ayurveda-delhi-traditional-ayurvedic-medicine/amp

Ayurveda market saw 50-90% growth in last quarter due to Covid-19 pandemic: Studies

Prashasti Awasthi |Mumbai
The Hindu
March 23, 2021

The interest in these products has mostly been fuelled by the recommendations from the Ministry of AYUSH to fight the coronavirus

The onset of the Covid-19 pandemic has pushed the demand for Ayurveda products in India. The interest in these products has mostly been fuelled by the recommendations from the Ministry of AYUSH to fight the Coronavirus.

According to the Maharishi Ayurveda study report during pre-Covid, the ayurvedic market typically witnessed 15-20 per cent growth annually. In the last quarter, many companies, large and small, have witnessed anywhere between 50-90 per cent growth.

Since last March, the demand for honey has gone up by 45 per cent, Chyawanprash by 85 per cent; and turmeric by 40 per cent in ayurvedic stores.

Speaking on the market growth, Anand Shrivastava, Chairman - Maharishi Ayurveda said in a statement: “Of course, we see the rising demand of different Ayurveda products ranging from Ayurvedic Rasayanas to various immunity-boosting products of Ayurveda.”

Nielsen’s report

Market Research Company, Nielsen’s report in the month of July revealed that Chyawanprash sales have increased by 283 per cent in June. While the sales of branded honey increased by 39 per cent.

The rising sales were also registered by Indian Medicines Pharmaceuticals Corporation Limited (IMPCL), a government enterprise and manufacturer of Ayurveda and Unani medicines.

IMPCL revealed that the consumption of ayurvedic medicines and products has increased during the Covid-19 pandemic significantly. The IMPCL registered sales of ₹69.60 crore up to August 2020 as compared to last year’s ₹26.73 crore.

The Ayurveda market in India was valued at ₹300 billion in 2018 and is expected to reach ₹710.87 billion by 2024, expanding at a compound annual growth rate (CAGR) of 16.06 per cent.

https://www.thehindubusinessline.com/economy/ayurveda-market-saw-50-90-growth-in-last-quarter-due-to-covid-19-pandemic-studies/article34140043.ece

How a shishya of Maharishi of Rishikesh built a Rs 270 Cr Turnover Ayurveda Company from Scratch

Sofia Danish Khan | New Delhi

The Weekend Leader
Vol 10 | Issue 6
11-February-2019

When he was seven, Anand Shrivastava, 65, had first attended a discourse of Maharishi Mahesh Yogi at Jabalpur, Madhya Pradesh. Anand’s father worked as a superintendent at the Indian government owned Gun Carriage Factory, and the spiritually inclined family had gone to hear the teachings of the Maharishi, who was propagating transcendental meditation (TM) around the world.

At 19, after graduating in commerce, Anand took permission from his family to visit Maharishi’s ashram at Rishikesh in Uttarakhand for training as a transcendental teacher.

Anand Shrivasatava launched Maharishi Ayurveda Products Pvt. Ltd in 1986 with around 20 products (Photos: Navnita)

“They happily let me go, because we were a family of simple needs,” recalls Anand. “After finishing the four-month course, I decided to stay back at the ashram as a volunteer, and became a TM teacher. I did not take any salary but I was at peace.” He began to accompany Maharishi during his overseas trips and became one of his trusted aides.

Now, 45 years later, though he still teaches TM, Anand is more renowned as founder of the Rs 270 crore turnover ayurveda company, Maharishi Ayurveda Products Pvt. Ltd. His transition from a TM teacher to entrepreneur happened during the ‘80s after he convinced Maharishi to promote ayurveda for creating a disease free society.

Anand, along with a team of ayurveda experts including Dr Brihaspati Dev Triguna, a popular ayurveda doctor, started the R & D on the products around 1980 with Maharishi’s blessings and support.

“We hired experienced vaidyas (ayurveda doctors) and made a sample of Chyawanprash, a traditional ayurvedic nutritive formulation, and served it in a silver bowl to Maharishi and Triguna,” remembers Anand.

Triguna wanted to know about a major ingredient they had used, and enquired about the price for the same. “When he was told it cost Rs eight per kg, Dr Triguna retorted that it must be synthetic because the real stuff would have cost Rs 80 per kg,” recalls Anand.

“He told us that such ingredients would bring down the quality of the products. Maharishi got really angry and blasted the entire team. We buried the complete lot in a pit, bearing the losses. It was my first lesson to never compromise on quality and to use the best raw material even if it were expensive. And we follow this rule till date.”

Seventy per cent of sales of Maharishi products come from exports

Anand raised the funds to launch his company with the help of his foreign friends. He had developed a wide network of friends from around the world since his first trip with Maharishi to Switzerland in 1975 as a TM teacher.

“I taught transcendental meditation to people around the world. I have visited more than 70 countries including the US, Canada, China, Japan, the UAE and many countries in Europe and South America as a TM trainer,” he says. “I have been around the world 7-8 times as part of these tours and have amazing friends in all parts of the world.”

Anand met his wife Hima, a TM teacher like him, on one such tour and the two got married in 1978 with the blessings of their parents. He started receiving a stipend of Rs 2000 after his marriage, which he says was more than enough for the family to lead their simple life.

In 1986 he launched his company with Rs 90 lakh. He raised the money from his overseas acquaintances and friends, who came on board as distributors and made advance payment for the products. With this money he purchased machinery and set up a production plant in Noida.

In the first year, they launched around 20 products including their popular brands Chyavanprash and Amrit Kailash, a food supplement. The other products included medicines for stress and anxiety, Asthomap for respiratory problems and Glucomap for diabetes.

Anand obtained ISO 9001 certification for the company in 1998 and it enabled them to continue their business in foreign markets

“Our products were available at overseas Maharishi ashrams and we also had tie-ups with allopathic doctors in foreign countries,” shares Anand, on their early days of sales and marketing. “In India, both ayurvedic practitioners and allopathic doctors recommended our medicines. We achieved a turnover of Rs 5 crore in the first year.”

Renowned ayurvedic practitioners including Dr Triguna, Dr Vasudev Dwivedi, and Dr Balraj Maharishi kept a close watch on the quality of production. From the beginning their products sold more abroad than in India.

“70 per cent of our sales come from export,” informs Anand. “People were looking at safer alternatives to allopathic medicines due to their side effects and it helped in the sale of our products.” Amrit Kailash brings in the highest revenue for the company.

Anand took the critical decision to obtain ISO 9001 certification brushing aside resistance from within the organisation, as the vaidyas did not want to reveal the formula of the products.

“It took us six years to get the certification, and we got it in 1998,” he shares. “The ISO certification gave us continued access to trade in foreign markets, where the certification had become mandatory. In year 2000, the company touched Rs 100 crore turnover.”

What started as a dream venture fuelled by passion “to make the world disease free” with around 4-5 people, has grown into a Rs 270 crore turnover business, providing employment to around 800 people around the world.

Maharishi’s Noida factory spread over 8000 sq mts mainly produces medicines for export purpose. Two other units at Baddi and Faridabad cater to the Indian market. The cost of medicine can be as low as Rs 80 for a bottle of cough syrup and as high as Rs 1,800 for post-chemotherapy care medicine.

Anand's four children are involved in the business. In the above photo, he is seen at their Noida factory with three of them

Clad mostly in dhoti and kurta, Anand believes in living a simple life. An early riser, his diet comprises khichdi, dal rice, fruits and milk. His younger brother takes care of the CSR activities of the organisation, while his two sons and two daughters are now directors in the company and are directly involved in the business.

Though ayurveda does not enjoy great patronage in the land of its birth, Anand is optimistic that things would change in the future. “In India, people are still skeptical of ayurveda and consider it as the last resort,” he says. “But things are slowly changing as there are 700 doctors pan-India who are explaining the benefit of ayurvedic medicine to people at various health centres. So the holistic movement is slowly catching up with Indians as well.”

https://www.theweekendleader.com/Success/2802/smart-shishya.html

Obituary: Shri Anand Shrivastava

First mention of his death I've been able to find in social media; no cause mentioned.

Sri Anand Shrivastava Ji, Chairman, Maharishi Ayurveda

25th April 1953 - 27th April 2021

Shri Anand Shrivastava: A Legendary Ambassador of Ayurveda for over three decades has passed away leaving us in grief.

@SWADEEP @mayurveda @maharishi_india

@ Ramshrivastava https://t.co/Tp5JTqMthw

https://twitter.com/healfoundation1/status/1392415036509868032/photo/1

Shri Anand Shrivastava CMD on Silver Jublee of Maharishi Ayuurveda on India News

Maharishi Group (wikigrain.org)

The Maharishi Group also called  Maharishi group, Maharishi Group Venture, Maharishi Group of Companies and TM organization was established by Maharishi Mahesh Yogi in the 1960s.[1] The Maharishi group was reported in 2009 to be worth $700 million[2] and to have operations in over 120 countries.[1]

The Maharishi Group calls itself "India’s leading International group with diversified interests".[3] According to one of the group's entities, it is active in "Education, Housing Finance, Solar Energy, Ayurvedic Products, Printing and Publishing, Granite, Software Development and Systems Integration, Aviation, Gems, Gold and Diamond Jewellery, IT turn key projects, Digital Animation, Clothing and many more areas."[4]Another entity says that the group "covers most aspects of modern human needs" and is based on the Maharishi's vision of "ridding the Society from sufferings ... by re-enlivening the body's intelligence through connecting it to the bountiful and perpetual reservoir of Nature's Intelligence".[5]

Health products

Anand Shrivastava is president of Maharishi Ayurveda Corporation. It was founded in 1987 and is ISO 9000 compliant. It markets over 900 products to 37 countries; exports which account for 60% of its output.[6]

Maharishi Ayurveda Products Pvt Ltd. (MAPPL), also run by Anand Srivastava, announced in a 2010 press release that it had been in business for three decades, that it operated 13 clinic in India, and that it was seeking the advice of a franchise company regarding further expansion[7] A 2011 press release, announcing franchise opportunities, says it markets over 1500 products.[8] MAPPL was sued in 2008 by a resident of Maharishi Vedic City, Iowa when she discovered that she had received lead poisoning after using their products. One herbal supplement was tested and reported to contain 3% lead by weight.[9]

Solar energy

The group includes Maharishi Solar Technology (MST), an ISO 9001:2000 accredited company which produces solar water heaters for home and industrial use as well as solar pumps and lanterns for areas that don't have electricity.[10][11] MST is run by Ajay Prakash Shrivastava brother of Anand Shrivastava. Prakash Shrivastava is also the 2009–2010 president of the Solar Energy Society of India and the Vice-President of International Solar Society.[12] MST has a vertically integrated facility for producing photovoltaic panels at Kalahasti in Andhra Pradesh,[3] and is a core producer of the multicrystalline siliconwafers used to make them.[13] In 2009 it announced an agreement withAbengoa Solar Inc for the production of solar thermal collectors that useparabolic trough mirrors to produce steam. MST said that it would investRs 300 crore to acquire the technology and to build a factory in Noida to make the collectors.[11] Maharishi Renewable Energy Ltd (MREL) announced a plan to invest Rs 70 crore in a solar thermal electric generating plant in Rajasthan to be completed in 2011.[2]

Education

Maharishi Vidya Mandir Schools is an educational system with 148 branches in 118 cities. The chairman is Ajay Prakash Shrivastava.[14][15]

Picasso Digital Media, headquartered in Delhi, provides education in digital animation in conjunction with Toronto's Centennial College.[16][17][18] Picasso Animation College held its first convocation at its Hyderabadcampus in 2010, hosted by its director general, O. P. Sharma.[19]

Other educational franchises include the Cosmic Institution of Neo Entertainment, Media and Arts (C.I.N.E.M.A.) and the Cosmic Business School (CBS).[20] Many CBS graduates are hired directly into Maharishi Groups businesses or are recruited by other business partners.[21][22]Started in 2004,[22] its president is Ajay Prakash Shrivastava and the director general is O.P Sharma.[23] Cosmic Academy, affiliated withManipal University, offered the first-ever MBA in Business Process Outsourcing in 2004.[24]

Software

Maharishi Information Technology Pvt. Ltd. (MITPL) was founded in 1999.[25] Cosmic Softech Limited is a software development company in New Delhi, one division of which is Cosmic Integrated Technology Services (CITeS).[5][26] Founded in 2000, it seeks to provide "comprehensive e-commerce solutions, web based technologies, enterprise business solutions designed around multi-tier architecture and telecommunications software development."[27]

Finance

The Maharishi Housing Development Finance Corporation (MHDFC) was established in 1993 in New Delhi. By 2000 it offered seven and 15-year loans and proposed a plan for 40-year mortgages.[28] By 2003 it had 15 branches across India, a loan portfolio of Rs104 crore, and the Maharishi University of Management of UK was listed as a promoter.[29]The sale of the controlling interest to ICICI Bank was initiated in 1999,[30][31] and the negotiations continued through 2003.[29] In 2009 it was announced that Religare Enterprises was planning to acquire a majority stake in MHDFC.[32]

References

1. ^ a b Das, Sandip (12 October 2009). "Harnessing solar power for industrial use.". The Financial Express.
2. ^ a b Mahalakshmi, BV (12 November 2009). "Maharishi to acquire tech from German co". The Financial Express (New Delhi).http://www.financialexpress.com/news/Maharishi-to-acquire-tech-from-German-co/540299/.
3. ^ a b "Maharishi Solar Technology announces tie-up with Abengoa Solar" (Press release). Global Solar Technology. 15 September 2009. Archived from the original on 8 September 2010.http://www.webcitation.org/5sbikWwqJ. Retrieved 5 April 2010.
4. ^ "Maharishi Group". Picasso Digital Media. Archived from the original on 8 September 2010.http://www.webcitation.org/5sbinCRGJ. Retrieved 5 April 2010.
5. ^ a b "THE MAHARISHI GROUP". Maharishi Ayurveda Products Pvt. Ltd.. 2007. Archived from the original on 8 September 2010.http://www.webcitation.org/5sbipx5z9. Retrieved 11 April 2020.
6. ^ "Chennai". The Hindu (India): p. 1. 13 September 2000.
7. ^ "Maharishi Ayurveda consult Francorp to advice for its expansion Pan-India" (Press release). Free-Press-Release Inc.. 8 March 2010. Archived from the original on 8 September 2010.http://www.webcitation.org/5sbitElKf.
8. ^ "Maharishi Ayurveda Products Pvt Ltd announces the launch of its franchise model" (Press release). 4 January 2011. Archived from the original on 20 January 2011.http://www.webcitation.org/5vtN5CUJl.
9. ^ Binegar, Erika (8 March 2008). "Title:Vedic City woman charges herbs caused lead poisoning.".Gazette (Cedar Rapids, Iowa).
10. ^ Doe, Paula, (April 24 2008)Chindia Rushes Into Solar Solid State Technology, retrieved April 21 2012
11. ^ a b Das, Sandip (12 October 2009). "Harnessing solar power for industrial use". The Financial Express (New Delhi).http://www.financialexpress.com/news/harnessing-solar-power-for-industrial-use/527767/.
12. ^ "Governing Council of SESI 2009–10". Solar Energy Society of India.http://www.sesi.in/governingcouncil.asp. Retrieved 6 April 2010.[dead link]
13. ^ "Get a Deep Insight into the Global & China Solar Polysilicon Industry Chain Report". Business Wire (New York). 3 December 2007.
14. ^ "About Chairman". Maharishi Vidya Mandir public school. Archived from the original on 8 September 2010.http://www.webcitation.org/5sbj4jfrK. Retrieved 6 April 2010.
15. ^ Pradhan, Sharat (10 February 2008). "Maharishi Mahesh Yogi to be cremated in grand ceremony". Rediff.com.http://www.rediff.com/news/2008/feb/10look.htm. Retrieved 6 April 2010.
16. ^ Mackinnon, Donna Jean (28 September 2006). "India has a huge demand for digital expertise Animation, India- style". Toronto Star: p. J.1.
17. ^ Chandrasekaran, Anupama (2 July 2007). "Maharishi Group’s Picasso To Invest $9 Mln In Animation Education, Production".contentSutra.http://contentsutra.com/article/419-maharishi-groups-picasso-to-invest-9-mln-in-animation-education-product/.
18. ^ "Ontario colleges animate India".National Post (Don Mills, Ont.): p. FP.3. 2 October 2006.
19. ^ "Picasso Animation College Organises Its First Convocation In The City" (Press release). India PRwire. 29 March 2010.http://www.indiaprwire.com/pressrelease/education/2010032946814.htm.
20. ^ "About Cinema". Cosmic Institution of Neo Entertainment, Media and Arts.http://www.cinemasite.in/aboutcinema.php. Retrieved 4 April 2010.[dead link]
21. ^ "Cosmic Business School: A recession proof career: MBA with SAP education". IndianMBA.com. 11 July 2009. Archived from the original on 8 September 2010.http://www.webcitation.org/5sbjWFi4D. Retrieved 6 April 2010.
22. ^ a b "ABOUT COSMIC BUSINESS SCHOOL". minglebox. Archived from the original on 8 September 2010.http://www.webcitation.org/5sbjbhvNY. Retrieved 9 April 2010.
23. ^ "Faculty". Cosmic Business School. Archived from the originalon 8 September 2010.http://www.webcitation.org/5sbjfWCOI. Retrieved 8 April 2010.
24. ^ Gohain, Manash Pratim (16 November 2004). "Now, MBA in BPO". Asia Africa Intelligence Wire.
25. ^ "Maharishi's Programmes in India: Maharishi Information Technology". Maharishi Vedic University. Archived from the original on 8 September 2010.http://www.webcitation.org/5sbjn0c2K. Retrieved 5 April 2010.
26. ^ "Home page". Cosmic Softech Limited. Archived from the originalon 8 September 2010.http://www.webcitation.org/5sbjrV1vH. Retrieved 4 April 2010.
27. ^ "Maharishi group". The Tribune(India). 20 June 2000. Archived from the original on 8 September 2010.http://www.webcitation.org/5sbjzj29k.
28. ^ "India: Maharishi Housing to offer 40-yr loan scheme". Business Line. 8 March 2000.
29. ^ a b "ICICI BANK IN DUE DILIGENCE FOR MAHARISHI HSG FIN BUY (to complete due diligence process by Jun 2003)".Asia Africa Intelligence Wire. 29 May 2003.http://www.financialexpress.com/news/icici-bank-in-due-diligence-for-maharishi-hsg-fin-buy/71683/.
30. ^ "Maharishi's Programmes in India: Maharishi Housing Development Finance Corporation". Maharishi Vedic University. Archived from the original on 7 February 2004.http://web.archive.org/web/20040207202601/http://maharishi-india.org/companies/c2/index.html. Retrieved 5 April 2010.[1]
31. ^ "Religare forays into home fin biz; buys 87.5% stake in MHDFC".The Press Trust of India Ltd.. 28 May 2009.
32. ^ Patel, Rupal (6 April 2009)."Religare To Acquire Controlling Stake In MHDFC".http://business.highbeam.com/436238/article-1G1-197743688/religare-enterprises-acquire-majority-stake-maharishi.

http://www.wikigrain.org/?req=Maharishi+Group

Golden Glades which was taken over by Maharishi Group is yet to repay investors

Indian Express
June 18, 2003 
George Mathew and Santanu Ghosh

Mumbai/New Delhi -- Heard of Maharishi Vedic Construction Company or Golden Glades? Not unless you are one of those unfortunate investors who put money into this company named after Maharishi Mahesh Yogi - popularly known as The Flying Swami.

It is another of those plantation companies which mopped up money from the market with clueless investors falling for their tall claims on high interest returns ranging anywhere between 18 to 24 per cent, and left their investors high and dry.

Hear this real story: Vishal N. Kulkarni, a Mumbai-based retail investor, is a worried man. His investment of around Rs 25,000 has remained stuck in Golden Glades for the last several years. Kulkarni is one among the 800 investors who had invested in Golden Glades and yet to get back their dues.

This is despite assurances from the Maharishi Group, the current owners of the plantation company that money would be given back to the investors. "When Maharishi Mahesh Yogi's followers took over the company, I thought the company will return my money. But it has not happened,'' Kulkarni said.