India’s leading fruit juice player, Manpasand Beverages Ltd has reported a 49.28 per cent rise in net profit at Rs 7.24 crore for the third quarter ended December, 2016 as against net profit of Rs 4.85 crore in the corresponding quarter of previous fiscal. Gross sales for Q3 of FY 16-17 at Rs 103.85 crore were higher by 13.97 per cent over previous fiscal’s same quarter gross sales of Rs 91.12 crore. Earnings per share (EPS) for Q3FY17 was at Rs 1.27.
For the nine months ended December 2016, company reported a net profit of Rs 41.29 crore against a net profit of Rs 24.89 crore in the corresponding period last year, a growth of 65.89 per cent. Gross sales in nine months of FY 2016-17 at Rs 444.19 crore were higher by 40.80 per cent compared to Rs 315.47 crore in the corresponding period of previous fiscal. EPS for 9 months ended FY 2016-17 was at Rs 7.88.
Elaborating on company’s performance and future expansion plans, Chairman and MD, Manpasand Beverages, Dhirendra Singh said, “At Manpasand Beverages, our aim has been to delight customers with innovative and superior quality products at affordable prices. In order to be meet the continuing demands of our customers we need to grow at a rapid pace. Recently, we had formalised plans to set four new manufacturing units, out of which construction work has already begun for new plants in Sri City, Vadodara and Varanasi. We have also identified location for a fourth plant in the eastern part of India. These new plants will not only double the company’s production capacity in the coming 12-18 moths, but will also help us reach out to newer markets, especially in north-eastern and southern India.”
Rs 500 crore raised through a QIP issue recently is well placed to fund these four new plants. Four new plants are going to be set up in future with total production capacity of 2 lakh cases per day as against the current 1.7 lakh cases per day. The new manufacturing units will source local produce to help meet the continual demand for Mango Sip and Fruits Up. In order to give a boost Fruits Up, the company has enrolled Bollywood actress and celebrity Tapsee Pannu as its brand ambassador in the last quarter. In the coming days, the company will be bringing out newer brands into the market and will also forge strategic alliances with key retailers.