Manpasand Beverages sets up new facility in UP with Rs 180 cr investment

Fruit juice maker Manpasand Beverages today said it has completed the setting up a new, Rs 180 crore manufacturing facility in Uttar Pradesh.

"The new facility is located in Varanasi. We propose to focus on manufacturing our existing range of products. With this, we will be better positioned to cater the markets of North and East India," the company said in a BSE filing.

This is the company's second plant in Varanasi. With this, it now has seven manufacturing units in Vadodara, Varanasi, Dehradun, and Ambala.

Investment for this new facility is approximately Rs 170-180 crore.

"We have set-up this facility with an intention to further strengthen our position in the Indian and global fruit drink industry. The two facilities in Varanasi will provide strategic leverage in catering to the key markets of North-West, East, North-East, and part of Central India," Manpasand Beverages Chairman and Managing Director Dhirendra Singh said.

Apart from the existing range of products, this unit will also focus on new product segments like milk-based drinks and protein-based drinks, he added.

The company said the facility will lead to the capacity addition of 45,000 to 50,000 cases per day from its existing capacity of around 2,25,000 cases per day.

Earlier this month, Manpasand said it is planning to invest Rs 1,500 crore to set up 10 new manufacturing plants in the country by 2020 in its effort to drive volume.

Over the next three years, Manpasand said it is planning to enter new product segments including milk-based drinks, fruit-based sugar-free drinks, glucose drinks and protein-based drinks which will provide a significant boost in its growth journey across local and global markets.

Manpasand stock settled 4.11 percent lower at Rs 123.70 on BSE.

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