Dabur signs MoU with Tamil Nadu govt to invest Rs 400 cr in first production unit in South India
New Delhi/Chennai/IBNS: India's home-grown FMCG major Dabur plans to start its first manufacturing unit in South India by investing Rs 400 crore in the next five years.
Dabur India 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 five years, according to reports.
The manufacturing facility, which will be set up in SIPCOT Tindivanam in Tamil Nadu, is expected to generate direct employment for around 250 people, besides creating thousands of indirect job opportunities, said Dabur India.
"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," Dabur India Limited chief executive officer (CEO) Mohit Malhotra said.
This will be amongst Dabur India's most-modern and environment-friendly manufacturing facilities with the capacity to manufacture a range of the FMCG company's products for the South market.
Dabur India Ltd, one of India's leading FMCG Companies, reported an 8.27 percent rise in consolidated net profit at Rs 494.35 crore in the first quarter ended June 2024.
The company had posted a consolidated net profit of Rs 456.61 crore in the same quarter last fiscal.
Dabur India's 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, reports Moneycontrol, adding that the counter increased 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 Dabur India climbed 15.26 percent this year so far, as per reports.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
Related Articles
CRR cut, AI ethics push, and SORR benchmark: Experts hail RBI’s pragmatic policy moves
Mumbai: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent, media reports said.
JP Morgan gives 'overweight' rating to Adani Group bonds
Mumbai: US investment bank JP Morgan has assigned an 'overweight' rating to four bonds issued by the Adani Group, citing the group's capacity to scale and grow through internal cash flows, which reduces the likelihood of credit stress.
LG Electronics files DRPH with SEBI; IPO size expected to be over RS 15,000 cr
Mumbai: South Korean electronics giant LG Electronics has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Friday for the proposed public listing of its Indian business, according to a notification on the Bombay Stock Exchange (BSE).
De-dollarisation not on India's agenda; derisking domestic trade is: RBI Governor Shaktikanta Das
Mumbai: India has not initiated any steps towards de-dollarisation and is solely focused on mitigating risks to domestic trade from geopolitical uncertainties, Reserve Bank of India (RBI) Governor Shaktikanta Das clarified on Friday, media reports said.
Latest News
Tamil Nadu: Vijay’s party blames DMK ‘conspiracy’ for Karur stampede, seeks probe by SIT or CBI
India clinch Asia Cup title with five-wicket win over Pakistan
PM Modi urges Indians to go 'Vocal for Local' in festival shopping
Pakistan’s mineral show-and-tell: Sharif and Munir try to charm Trump
