Manpasand Beverages’ shares surged on Friday by over 8 per cent achieving its 52-week high after the company announced an exclusive tie-up with Biscuits major Parle Products earlier this month. The company’s stock was trading up by 8.2 per cent at Rs 974 per share on BSE and 8.4 per cent at Rs 978.85 on NSE.
The fruit pulp juice maker, besides cutting a deal with Parle Products, also got international acclaim when Forbes magazine listed Manpasand Beverages among one of the 200 Best Under a Billion companies.
The Vadodara, Gujarat-based Manpasand Beverages has the current market capitalisation worth Rs 4,531.5 crore, or about USD 707 million. Forbes lists the company’s market capitalisation at USD 675 million. Manpasand Beverages makes fruit drinks under brands such as MangoSip, Fruits Up, Pure Sip.
Manpasand Beverages has also introduced a new packaging for Mango Sip – Mango Sip Gold- for this partnership. Under this, Parle biscuit packs and wafers will be offered along with Mango Sips various Stock Keeping Units (SKUs), the company said.
The company also aims to double its manufacturing capacity and will be setting up four new plants in the country by May 2018. Currently, the production capacity of Manpasand Beverages is around 1.7 lakh cases per day and the company is planning to double the same in a period of 12 to 18 months, PTI reported.
In August, the city-based company set up a new manufacturing facility in Ambala, Haryana, at an investment cost of Rs 160 crore and had also raised Rs 500 crore through qualified institutional placement for their expansion plans.