Manpasand Beverages PAT up 82% in Q1 FY 2016-17 at Rs. 28.64 crore

August 10, 2016: India’s leading fruit drink player, Manpasand Beverages Ltd has reported a 82% 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% over previous fiscal’s same quarter total income of Rs.150.11 crore. Earnings Per Share (EPS) for Q1FY17 was at Rs.5.72.
Mr.Dhirendra Singh, Chairman & MD of Manpasand Beverages 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% Natural Packaged Tender Coconut Water, targeting the huge untapped coconut drink segment in India.
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 & Cafe? 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.”
Mr. 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 31st March, 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 Crores and this market is estimated to grow at CAGR of more than 20%. The Indian packaged juice industry size is about Rs. 8,000 Crores and it has been growing at more than 30 % per annum in last few years and will maintain that pace in future as well.