Manpasand Beverages Ltd

Manpasand Beverages Ltd

Manpasand Beverages Limited operates as a fruit drink manufacturing company in India. The company offers mango based fruit drink under the Mango Sip brand; fruit drinks and carbonated fruit drinks under the Fruits Up brand; and fruit drinks with energy replenishing qualities under the Manpasand ORS brand. It also offers apple flavored fruit drink under the Apple Sip brand; and bottled water under the Pure Sip brand. From being a merely mango pulp drink maker under the flagship brand 'Mango Sip' Manpasand has been enhancing its product portfolio. Currently apart from its star brand 'Mango Sip' Manpasand's product portfolio comprises of Jeera Sip' Aprilla' (carbonated apple juice) and Siznal' (vegetable and fruit based health drink) among others.Manpasand Beverages Ltd was originally formed as a partnership firm under the Partnership Act in the name of 'Manpasand Agro Food' pursuant to a deed of partnership dated January 4 2010. The name of the partnership firm was changed to 'Manpasand Beverages' pursuant to agreement modifying the partnership deed dated July 17 2010. Manpasand Beverages was thereafter converted from a partnership firm to a public limited company under Part IX of the Companies Act 1956 with the name of 'Manpasand Beverages Limited' and received a fresh certificate of incorporation from the Registrar of Companies on December 17 2010. The certificate of commencement of business was granted by the Registrar of Companies Gujarat Dadra and Nagar Havelli on January 4 2011. The Company was subsequently converted into a private limited company named 'Manpasand Beverages Private Limited' and a fresh certificate of incorporation consequent to conversion to private limited company was granted by the Registrar of Companies Gujarat Dadra and Nagar Havelli on August 5 2011. Subsequently the Company was converted into a public limited company with the name 'Manpasand Beverages Limited' and a fresh certificate of incorporation was granted by the RoC on October 7 2014.In 2005 a manufacturing plant at Vadodara was set up by the company and again in 2011 another manufacturing plant was set up in Varanasi.The company successfully completed its Initial Public Offer (IPO) and issued and allotted 12500000 equity shares of Rs 10 each with a premium of Rs 310 aggregating to Rs 400 crore. The IPO was open for subscription during the period from 24 to 26 June 2015. The company became the country's first listed beverage company. During the financial year ended 31 March 2016 the company paid off its entire debts and became a debt free company. During the year under review the company launched its new brands under the name 'Fruits Up' and 'Coco Sip'.During the year ended 31 March 2017 the Fruits Up' brand crossed a turnover of Rs 180 crore. Positioned as a premium fruit drink with real fruit' content Fruits Up caters to the urban market to adapt to the changing preferences of the consumers and to offer them with healthier alternatives. The Bollywood youth icon Taapsee Pannu was signed as the brand Ambassador of Fruits Up' in December 2016. Manpasand has phenomenally increased its foot prints in the Modern Trade segment and its brand Mango Sip' became one of the fastest selling mango drinks in the entire chain of Walmart India and Spar India outlets pan India in FY 17.During the year under review the company began work on four new manufacturing units simultaneously. In order to meet the continuing demands of the customers the company fast-tracked the completion of its plant at Ambala adding 50000 cases to its overall production capacity. During the year under review the company also took the significant step of entering the southern markets and strengthened its reach across South India. During the year under review the company allotted 7092198 Equity Shares of Rs 10 each with a premium of Rs 695 aggregating to Rs 500 crores as Qualified Institutional Placement (QIP).During the financial year ended 31 March 2018 the company launched a new product Jeera Sip. Jeera (cumin) is known for its unique flavor and is synonymous with Indian cuisine. The traditional drink segment is one of the fast-growing categories in the Indian beverage market owing to changing consumer dynamics and shifting preferences towards healthier drinksDuring the financial year ended 31 March 2018 the company entered into an association with Parle Products Private Limited (PPPL) and will have access to its outlets pan India. In this association both companies will cross promote their brands and aims to achieve a significant market share in snacks/biscuits and the beverage industry. Through this partnership Manpasand will have access to 60 lakh outlets pan-India for its flagship brand Mango Sip'. After the completion of the pilot project Manpasand and PPPL will jointly distribute their respective products in rest of India now. With the signing of the ten year joint distribution pact with PPPL Manpasand Beverages is planning to expand its production capacity across the country to meet the demand.To cater to new-age and health conscious consumers Manpasand Beverages rolled out a new nutritional drink brand called 'Siznal'. Siznal is a range of juices with a blend of fruits and vegetables sweetened with honey. Offered in four different blends of vegetables and fruits including beetroot-carrot orange-carrot pomegranate-carrot and cucumber-spinach Siznal is targeted at urban consumers. The brand does not contain any preservatives or added sugar and is high on nutritional values. During the year under review the company began work on four new manufacturing units. During the year the company fast tracked the completion of its third new manufacturing unit at Vadodara. The unit is already functional.During the year under review the company obtained the approval from the shareholders and Reserve Bankof India (RBI) in respect of increase in the limit of investment of FII/FPI from 24% to 49% of paid up capital of the company.