Baba Ramdev-backed Patanjali Foods, the packaged food business of Patanjali Ayurved that was earlier known as Ruchi Soya, seems to be losing its sheen. 

It was almost a year ago that Patanjali Ayurved merged its food business—comprising 21 products, including ghee, honey, spices, juices and flour—with Ruchi Soya, an edible oil company that it had acquired through the insolvency process in 2019. Last year, the yoga tycoon also set an ambitious target: To make Patanjali “India’s largest food and FMCG company in the next five years”. A year before that, he had