Manpasand Beverages Limited’s first half yearly revenue up by 19.10% to Rs.508.88 crores in FY19
Deepthi | Myequity news | Date : 29-10-2018 21:15:00 IST
India’s leading fruit drink player, Manpasand Beverages Limited reported revenues of Rs. 174.24 crore for the quarter ended September 30, 2018 (Q2FY19), higher by 38.49% year on year (y-o-y). Earnings before interest, tax, depreciation and amortization (EBITDA) jumped 14.95% to Rs 32.17 crore. Net profit stood at Rs. 8.42 crore in Q2FY19.
In half year ended September 30, 2018, the company’s revenue stood at Rs. 508.88 crore, higher by 19.10%. Earnings before interest, tax, depreciation and amortization (EBITDA) jumped 12.20% to Rs 105.65 crore. Net profit stood at Rs. 44.80 crore. About Manpasand Beverages:
Elaborating on the company’s performance, Mr. Dhirendra Singh, Chairman & MD of Manpasand Beverages Limited said, "Our year-to-date performance is encouraging. With our experience on expanding from the ground within India, our focused efforts on offering products as per the regional taste have paid off well. Our flagship mango drink brand ‘Mango Sip’ and our carbonated fruit drink brand ‘Fruits Up’ continued to grow across the traditional and modern trade segment. Our traditional innovative brand ‘Jeera Sip’ received a phenomenal response and has become one of the top most selling brands across the modern trade segment. During the quarter, the company continued to focus on enhancing its product portfolio by developing more health focused beverages. With joint distribution pact with Parle products being implemented on full swing, our domestic growth projects remained on schedule, to meet the strong demand. We began production at our recently inaugurated new Varanasi facility, earlier last quarter. The upcoming fruit juice and carbonated fruit drink manufacturing unit at Sricity, Andhra Pradesh will be operational by the third quarter.”
Manpasand has is one of the major players in the juice industry with brands like Mango Sip, Fruits Up, Jeerasip, Aprilla, Manpasand ORS, Siznal, X-cite and Oxysip. The company’s flagship brand, ‘Mango Sip’ has emerged as the third largest selling mango drink brand in the modern trade channel, as per the latest Nielsen report. The company currently has manufacturing facilities in Baroda and Varanasi. It is adding four more facilities in Andhra Pradesh (Sricity), Uttarakhand (Dehradun), Orissa (Khurda) and Haryana (Ambala).