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Manpasand Beverages reports net profit of Rs 7.43 crore in ’16-17’s Q3
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Monday, 06 February, 2017, 08 : 00 AM [IST]
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Our Bureau, Mumbai
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Manpasand Beverages Ltd, India’s leading fruit juice player, has reported a net profit of Rs 7.24 crore for the quarter ended December 31, 2016 as against a net profit of Rs 4.85 crore in the corresponding quarter of the previous fiscal. The rise is 49.28 per cent.
The gross sales for the third quarter of fiscal year 2016-17 (Rs 103.85 crore) were higher by 13.97 per cent over those of the corresponding quarter of the previous fiscal (Rs 91.12 crore).
The earnings per share (EPS) for the third quarter of fiscal 2016-17 were Rs 1.27. There was a 30.93 per cent increase over the EPS for the corresponding quarter of the previous fiscal (Rs 0.97).
For the nine months ended December 2016, the 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).
The gross sales in the nine months of fiscal year 2016-17 (Rs 444.19 crore) were higher by 40.80 per cent compared to Rs 315.47 crore in the corresponding period of the previous fiscal.
The EPS for the nine months ended December 31, 2016 were Rs 7.88. There was a 45.12 per cent increase over the EPS for the corresponding quarter of the previous fiscal (Rs 5.43).
Elaborating on the company’s performance and expansion plans, Dhirendra Singh, its chairman and managing director, 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,” he added.
“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,” Singh stated.
The Rs 500 crore raised through a qualified institutional placement (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 two 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 to Fruits Up, the company enrolled Bollywood actress Taapsee Pannu as its brand ambassador in the last quarter.
In the coming days, the company will be launching newer brands in the market and forging strategic alliances with key retailers.
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