Please refer to important disclosures at the end of this report
Manpasand Beverages Limited (MANB) is a fruit drink manufacturing company
with a primary focus on mango fruit, which is the leading flavour for juice drinks
in India. The company’s mango based fruit drink, ‘Mango Sip’, is flagship brand.
MANB continues to operate at full utilization to cater to growing demand. With
the ongoing strong summer along with the focus on advertisement it is expected
to drive superior performance going ahead. Demand continues to be strong in
the fruit drinks category. The company’s presence in low-ASP/SKU products,
addition of new capacities and foray into newer geographies provide comfort.
Also, the planned advertisement campaign for Fruits Up should complement its
recent Fruits Up capacity addition at Ambala. Manpasand Beverages is planning
to more than double its production capacity in the next 12-18 months. MANB
being a focused player in the beverages industry, has continuously been growing
by increasing its capacity tapping the low penetrated soft drink market in India.
Having a strong foothold in the tier-2, semi-rural and rura markets, the company
is rapidly penetrating into urban India with its brand Fruits Up. The Company has
reduced debt and is virtually debt free. The company has reported a healthy
profit growth of 31.6% CAGR and return on equity of 15.8% for the last 3 years.
Hence Buy.
CMP `761
Note: The stock listed on July 09, 2015.
Reuters Code
BSE Sensex
Face Value (`)
Market Cap (` cr)
52 Week High / Low
Avg. Daily Volume
Vaibhav Agrawal
022 3935 7800 Ext: 6808
[email protected]gelbroking.com
Manpasand Beverages
Others | FMCG
May 24, 2017
Manpasand Beverages | FMCG
May 24, 2017
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Disclosure of Interest Statement Manpasand Beverages
1. Financial interest of research analyst or Angel or his Associate or his relative No
2. Ownership of 1% or more of the stock by research analyst or Angel or associates or relatives No
3. Served as an officer, director or employee of the company covered under Research No
4. Broking relationship with company covered under Research No
Ratings (Based on expected returns Buy (> 15%) Accumulate (5% to 15%) Neutral (-5 to 5%)
over 12 months investment period): Reduce (-5% to -15%) Sell (< -15)