Dabur India aims to invest Rs 400 crore over the next five years to establish its first manufacturing site in South India.
The homegrown FMCG company has inked a Memorandum of Understanding (MoU) with the Tamil Nadu government for the project, with an authorized Phase 1 investment of Rs 135 crore, which would be increased to Rs 400 crore over a five-year period.
The plant, which will be built in SIPCOT Tindivanam, Tamil Nadu, is projected to employ around 250 people directly while also providing thousands of indirect job possibilities, according to the business.
Dabur India Limited CEO Mohit Malhotra stated, "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 one of Dabur's most sophisticated and environmentally friendly production facilities, with the potential to produce a variety of Dabur goods for the South market.
Dabur India Ltd is one of India's largest FMCG companies. In the first quarter ended June 2024, the company's consolidated net profit increased by 8.27 percent to Rs 494.35 crore. It reported a total net profit of Rs 456.61 crore in the same period previous year.
Consolidated revenue from operations in the current quarter was Rs 3,349.11 crore, compared to Rs 3,130.47 crore in the previous year. The stock surged to an intraday high of Rs 647.7 per share on the National Stock Exchange (NSE), up 2.1 percent from its previous closing. The FMCG company's stock is up 15.26% this year.
