Manpasand Beverages FY18 net profit up 38%

Ahmedabad: Homegrown beverages company Manpasand Beverages Ltd on Wednesday said its net profit for the last fiscal grew 37.66% over 2016-17, a month after its results were delayed.

The company’s the then auditors Deloitte Haskins and Sells India had resigned over allegations of the former withholding information following which the company had taken on board Mehra Goel and Co. on May 27 in casual vacancy as statutory auditors. Manpasand had refuted the allegations before the BSE.

On Wednesday, Manpasand informed its total revenue grew 34% to Rs 984.95 cr in the last fiscal against 2016-17 when the revenue was Rs 735.02 cr. The growth in revenue came from the company’s expanded capacity and new


distribution channels across rural, semi-urban and urban centres, it said.

The company declared dividend of 5% on expanded equity base post bonus issue in the ratio of 1:1. The company said it entered into a joint distribution tie-up with Parle Products to expand its distribution reach in eastern and western markets. Apart from the third plant in Vadodara that got operational in last quarter, the company is coming up with new plants in Varanasi and Odisha, it said.