Shares of Dabur India Ltd. rose by nearly 2% to touch a day’s high of Rs 647.70 on 22nd August after the company announced plans to establish its first manufacturing facility in South India with an investment of Rs 400 crore over the next 5 years.

The firm has executed a memorandum of understanding (MoU) with the Tamil Nadu government that is associated with a project; for Phase 1, the expected investment is approximately Rs 135 crore, and the total investment into the project is projected to be Rs. 400 after a period of five years.

The new facility is located in SIPCOT Tindivanam, Tamil Nadu, and is expected to create around 250 direct jobs and thousands of indirect job opportunities.

According to the company’s CEO, Mr Mohit Malhotra, the fresh investment it is eyeing will be used to meet the growing demand in South India and to build a market presence in the region.

This new facility at Dabur India will be one of the most modern and eco-friendly plants and will be capable of producing a variety of products for the South Indian market.

The firm’s consolidated net profit rose by 8.27% to Rs 494.35 crore in Q1 2024, up from Rs 456.61 crore in the same quarter last year.

The company’s consolidated revenue increased to Rs 3,349.11 crore in the latest quarter, compared to Rs 3,130.47 crore in the previous year.

The company’s market capitalisation rose to Rs 114,482 crore.

The stock has increased by 15.26% YTD.

At 1:42 PM, the shares of Dabur India were trading 1.78% higher at Rs 645.65 on NSE.

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