Dabur India plans to start its first manufacturing facility in South India by investing Rs 400 crore in the next 5 years.

The home-grown FMCG major has signed a Memorandum of Understanding (MoU) with the Tamil Nadu government for the project with an approved Phase1 investment of Rs 135 crore, scaling up to Rs 400 crore over a period of 5 years.

The facility, which will be will be set up in SIPCOT Tindivanam, Tamil Nadu is expected to generate direct employment for around 250 people, besides creating thousands of indirect job opportunities, the company said.

Dabur India Limited Chief Executive Officer Mohit Malhotra said, “This investment will allow us to better serve the growing demand for our products in South India and strengthen our market presence in the region.”

This will be amongst Dabur's most-modern and environment-friendly manufacturing facilities with the capacity to manufacture a range of Dabur's products for the South market.

Dabur India Ltd is one of India's leading FMCG Companies. The company reported an 8.27 percent rise in consolidated net profit at Rs 494.35 crore in the first quarter ended June 2024. It had posted a consolidated net profit of Rs 456.61 crore in the same quarter last fiscal.

Consolidated revenue from operations in the quarter under review was at Rs 3,349.11 crore as against Rs 3,130.47 crore in the year-ago period.

The counter rose to an intraday high of Rs 647.7 per share on the National Stock Exchange (NSE), zooming 2.1 percent from its previous close. The stock of the FMCG company climbed 15.26 percent this year so far.

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Published on: Aug 22, 2024 12:51 pm