Against all odds, Manpasand posts a sturdy quarter; net profit up 1.32% at Rs.36.38 crore
August 2, 2018: India’s leading fruit drink player, Manpasand Beverages Ltd. has reported a 1.32% rise in net profit at Rs. 36.38 crore for the first quarter ended June 30, 2018 as against net profit of Rs.35.91 crore in the corresponding quarter of the previous fiscal year. Revenuefor Q1 of FY 18-19 stood at Rs.340.07 crore higher by 9.24% vis-à-vis Rs. 311.30 crore in corresponding quarter of previous fiscal. Earnings Per Share (EPS) for Q1FY19 was up by 1.29% at Rs.3.18 per share.
The rise in Net Profit is not commensurate to rise in Revenue mainly due to reduction in Other Income and rise of Depreciation (Non-Cash Item). The company is showing stable QoQ performance and is moving ahead promisingly.
Elaborating on the company’s performance, Mr. Dhirendra Singh, Chairman & MD of Manpasand Beverages Ltd., said, “Issues unrelated to operations caused some spillover and impacted our business in the month of June. Despite this challenge, we managed to perform relatively well and kept ourselves focused on expansion and product development. Operations are now back to normal and we continue to be confident about our growth plans.”
He further emphasized that, Manpasand remains confident about the next fiscal year. Augmenting our presence through Quick Service Restaurants (QSRs), food chains, and retailers to develop stronger brand recognition for our products among consumers will continue to be the main driver of Company’s growth. The company will take this symbiotic growth approach in the coming days too. Product innovation and enhancing the distribution network will be the primary focus areas in our endeavor to create a point of differentiation amongst our local and global competitors.
Over the next three years, Manpasand expects that its entry in new product segments that include milk based drinks, fruit based sugar free drinks, glucose drinks and protein based drinks will generate incremental revenues and will provide a significant boost in our growth journey across local and global markets.
Other Highlights of FY17-18:
·The Company entered into a ten year joint distribution agreement with Parle Products to expand its distribution reach across India, post its successful pilot in the eatern and western markets.
· Apart from the third plant in Vadodara that got operational in last quarter of FY18; the installation work at its new plant in Varanasi and the construction work at Sri City are nearing completion.
·The Company has finalized the location for its fourth new plant in Khurda in Odisha. This will be the Company’s first plant in the eastern region
·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 is planning to expand its operation in overseas market very soon
·It is also bringing out new flavors in the health segment.