Vadodara : Fruit juice maker Manpasand Beverages 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 volumes, a top company executive said.
The company at present has six manufacturing plants across the country, of which three are in Vadodara, and one each in Varanasi, Dehradun and Ambala. “We are planning to have a total of 16 plants in the country by 2020, and are looking to invest Rs 1,500 crore on 10 new plants,” Dhirendra Singh, chairman and managing director, Manpasand Beverages, said. The firm is also planning to enter new product segments like milk based sugar free drinks, glucose drinks and protein based drinks over the next three years to grow revenues and provide a significant boost to its growth journey across local and global markets, he added.
“For a country whose per capita consumption of cold drinks stand at mere six litres against 90 litres in the US, we need to have more affordable products to drive sales. We can beat MNCs only by creating volumes and flooding the market with desi brands,” said Singh.
In a bid to tap rural markets across the country, the fruit juice maker has already expanded its nutritional drinks portfolio with a new brand Siznal a couple of months ago which Singh said has been receiving good response from the market.