Vadilal Industries to invest Rs 30.62 crore towards expansion

AHMEDABAD: Ice cream and frozen foods company, Vadilal Industries Limited has reported a 59% jump in net profit at Rs 13.78 crore for the first quarter ended June 30 thas against Rs 8.66 crore in the Q1 of previous year. Net sales in Q1 of 2012-13 have gone up by 25% to Rs 133.37 crore over previous fiscal's first quarter turnover of Rs 106.75 crore.

Commenting on the financial performance of the company, Rajesh Gandhi,MD of Vadilal Industries Ltd said, "major expansion in production capacities completed last year as well as aggressive marketing campaigns during this summer have paid off with strong growth in sales and even higher increase in profits.

The company's board has also recently given approval for undertaking capital expenditure of Rs. 30.62 crore towards expansion-cum-modernisation of its ice-cream production facilities situated at Pundhra in Gujarat and at Bareilly in Uttar Pradesh, as well at its processed food division situated at Dharampur in Gujarat."

This summer, the company came out with a completely new range of products targeted at the kid's category under the umbrella brand of ice trooper.

""With the purchasing power of the Indian middle class having gone up considerably during the last few years, we felt that this was the right time to launch a new range of higher-end products. Children are a major influence while making purchases for this class of consumers, especially for impulse category products like ice creams,"" said Devanshu Gandhi, MD of Vadilal Industries Ltd.