Company to invest Rs 31 crore in capex at 3 plants in Gujarat & UP
Online PR News – 14-August-2012 – Ahmedabad – Financial Highlights (Rs Crore):
Particulars Q1FY13 Q1FY12 Quarter Growth (%)
Net Sales 133.37 106.75 25
Net Profit 13.78 8.66 59
EPS 19.18 12.05 59
13th August, 2012: India’s leading ice cream and frozen foods major, Vadilal Industries Limited has reported a 59% jump in net profit at Rs 13.78 crore for the first quarter ended June 30th, 2012 as against Rs 8.66 crore in the Q1 of previous year. Net sales in Q1 of 2012-13 have gone up by 25% to Rs 133.37 crore over previous fiscal’s first quarter turnover of Rs 106.75 crore.
Commenting on the financial performance of the company, Mr. Rajesh Gandhi, Managing Director of Vadilal Industries Ltd. said, “Major expansion in production capacities completed last year as well as aggressive marketing campaigns during this summer paid off with strong growth in sales and even higher increase in profits. The company’s board has also recently given approval for undertaking capital expenditure of Rs. 30.62 crore towards expansion-cum-modernisation of its ice-cream production facilities situated at Pundhra in Gujarat and at Bareilly in Uttar Pradesh, as well at its processed food division situated at Dharampur in Gujarat.”
Mr. Devanshu Gandhi, Managing Director of Vadilal Industries Ltd. added, “This summer, Vadilal Industries came out with a completely new range of products targeted at the kids’ category under the umbrella brand of ‘Ice Trooper’ and it met with big success amongst the kids across all states where it was launched. With the purchasing power of the Indian middle class having gone up considerably during the last few years, we felt that this was the right time to launch a new range of higher-end products. Children are a major influence while making purchases for this class of consumers, especially for impulse category products like ice creams.”
Along with the kids’ category, Vadilal had introduced around 20 new brands this summer. It has recently introduced a new variant Mocha Fudge in the ‘Flingo’ cone category. In the ‘Gourmet’ range Vadilal has added a few more variants. Due to the tremendous response that the company got for its 500 ml Gourmet tubs, it plans to launch smaller Gourmet tubs of 140 ml, especially for consumption by airlines and for people on the move.