India’s leading fruit drink player, Manpasand Beverages Ltd has reported a 82 per cent rise in net profit at Rs 28.64 crore for the first quarter ended June 30, 2016 as against net profit of Rs 15.69 crore in the corresponding quarter of previous fiscal.
Total Income for Q1 of FY 16-17 at Rs 236.91 crore were higher by 58 per cent over previous fiscal’s same quarter total income of Rs 150.11 crore. Earnings Per Share (EPS) for Q1FY17 was at Rs 5.72.
Chairman and MD, Manpasand Beverages, Dhirendra Singh said, “Our company’s aim is to grow aggressively across India and continue to delight customers with innovative, superior quality products at affordable prices. With the introduction of ‘FRUITS UP,’ we had not only diversified our product portfolio but also adopted a new strategy to tap the urban markets, after having established a strong presence in the semi-rural markets through our flagship brand ‘MANGO SIP’. During the year, we also developed another healthy product called ‘COCO SIP’ – 100 per cent natural packaged tender coconut water, targeting the huge untapped coconut drink segment in India.”
He further added, “The other new initiative we embarked on was to tie up with organised retail players as well as various food and beverage outlets such as Metro Cash & Carry, Aditya Birla Retail, Havmor Ice Cream and Café Coffee Day, to name a few. Manpasand also became the only beverage company to tie up with global ice cream major Baskin Robbins in India. In the coming months, the company is going to forge more such alliances to increase its urban market penetration.”
Singh further said that, “with a Make in India vision, inspired by our honorable Prime Minister’s Make in India campaign, and with a view to expand our production capacity, we started with setting up of a new manufacturing unit near Ambala, Haryana during the year and the same was under progress as of March 31, 2016. Modernisation of Vadodara and Varanasi facilities were also completed during the year. We are now looking at setting up more manufacturing facilities; announcement for which will be made soon.”
The market size of beverage industry in India, which consists of juices, carbonated drinks and bottled water is estimated to be worth around Rs 65,000 crore and this market is estimated to grow at CAGR of more than 20 per cent. The Indian packaged juice industry size is about Rs 8,000 crore and it has been growing at more than 30 per cent per annum in last few years and will maintain that pace in future as well.