Dabur to Launch ₹400 Crore Manufacturing Unit in Tamil Nadu

22 Aug 2024 , 04:33 PM

Dabur India has announced plans to invest ₹400 Crore over the next 5 years to establish its first manufacturing facility in South India.

The company has signed a Memorandum of Understanding (MoU) with the Tamil Nadu government for this project.

Phase 1 of the investment has been approved with an initial commitment of ₹135 Crore, which will eventually scale up to ₹400 Crore over the 5-year period.

The new manufacturing facility will be located in SIPCOT Tindivanam, Tamil Nadu, a strategic choice to serve the growing demand for Dabur products in South India.

The facility is expected to generate direct employment for around 250 people, with thousands of additional indirect job opportunities created in the region.

Dabur India’s Chief Executive Officer, Mohit Malhotra, emphasized that this investment will help the company strengthen its market presence in South India and meet the rising demand for its products in the region.

The new facility will be one of Dabur’s most modern and environmentally friendly manufacturing units, designed to produce a range of products specifically for the South Indian market.

Dabur India Limited, a leading FMCG company in India, reported an 8.27% increase in consolidated net profit, amounting to ₹494.35 Crore for the first quarter ending June 2024.

The company’s consolidated revenue from operations for the quarter was ₹3,349.11 Crore, compared to ₹3,130.47 Crore in the same period last year.

At the time of writing on August 22, 2024 at 4:30 pm, shares of Dabur India closed at ₹646 which is a 1.87% gain than the previous close. Dabur India stock has gained a total of 12% in the last one year, and almost 15% since the beginning of the year.