Manpasand becomes debt-free after repaying Rs 101 crore

City-based fruit juice maker Manpasand India has become debt-free after repaying its obligation of Rs 101 crore.
"Manpasand has became a completely debt-free company by pre-paying its outstanding debt from the IPO proceeds and internal accruals," its Chairman and Managing Director Dhirendra Singh told PTI here today.
The Rs 400-crore initial public offering of Manpasand Beverages in June 2015 was oversubscribed 1.39 times.
The company used funds for its expansion, including building a new manufacturing unit, and utilised around Rs 153 crore for setting up of a new manufacturing facility in Haryana, he said.
During the third quarter of this fiscal, the company entered into a tie-up with German wholesale retail and trading major Metro Cash and Carry.

The company is exploring more such tie-ups to increase its urban market penetration, he said.

Manpasand's IPO price band was Rs 290-320, and it had received bids for 1.05 crore equity shares against issue size of 75.86 lakh shares (excluding anchor book).
The company reported a net profit of Rs 4.92 crore for the third quarter ended December 31, 2015, as against a net loss of Rs. 2.59 crore in the corresponding period last fiscal.
Net sales for the same quarter was Rs 89.91 crore, up 76 per cent from Rs 51.05 crore in the corresponding period last fiscal.
Earnings Per Share (EPS) for the third-quarter of 2015-16 stood at Rs 0.98.

For the nine months ended December 2015, company reported a net profit of Rs 25.01 crore against a net profit of Rs 12.64 crore earlier, a growth of 97.9 per cent.
Net sales in the nine-month period was at Rs 326.32 crore, higher by 36.5 per cent compared to Rs 239.10 crore in the same period of previous fiscal.