The fruit juice maker has already added nutritional drinks portfolio with a new brand Siznal around 2 months ago, in a bid to tap rural markets across the country.
In an attempt to drive volumes, fruit juice maker Manpasand Beverages has planned to build 10 new manufacturing plants in the country by 2020, a top company executive said.
Currently, the company 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," said Dhirendra Singh, chairman and managing director, Manpasand Beverages.
The city-based firm has also planned to start new verticals by launching 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.
The fruit juice maker has already added nutritional drinks portfolio with a new brand Siznal around 2 months ago, in a bid to tap rural markets across the country, which Singh said has been receiving good response from the market.
It has also tied up with Parle Products to cross promote products, which would enable the firm to get access to the 4.5 million outlets of Parle Products spread across India.
Manpasand is planning to launch multiple facilities of packaged drinking water, in order to cater to the growing water demand in future, according to Singh.
"India's bottled water market is growing at around 20 per cent annually and the company has planned to start monetising its water business," he said, adding, "A Rs 600-crore expansion plan is already underway across multiple locations and Manpasand would have double capacity by the end of 2018."
"These issues are now things of past and we have already started working on our expansion plans within India and abroad," Singh said, adding it was an "aberration" and the company has already declared its results, audited by the new auditor.