Buoyed by significant growth in demand, fruit juice manufacturer Manpasand Beverages said it aims to double its manufacturing capacity and will be setting up four new plants in the country in the next 18 months.
“The still untapped demand for fruit drinks across India is huge. In spite of having commissioned two new plants in the last one year, we are unable to meet the demand from our existing markets, leave alone expanding our reach further.
“We will be coming up with four new plants in different parts of the country, including the South, where our presence is minimal,” Manpasand Beverages chairman and managing director Dhirendra Singh told PTI.
Currently, the production capacity of Manpasand Beverages is around 1.7 lakh cases per day and the company is planning to double the same in a period of 12 to 18 months.
However, Singh did not divulge the amount of investment in new facilities.
In August, the city-based company set up a new manufacturing facility in Ambala, Haryana, at an investment cost of Rs 160 crore and had also raised Rs 500 crore through qualified institutional placement for their expansion plans.
Manpasand Beverages currently operates five manufacturing plants — two in Vadodara and one each in Varanasi, Ambala and Dehradun.
Asked if demonetisation would have an impact on the company’s sales, Singh told news agency PTI, “there will not be any impact due to this move as we have always offered products at affordable price points and continue to focus on smaller packs which range between Rs 5 to Rs 10. Fortunately, there is no shortage of these denominations in the country.”