Amit Mantri is having the last laugh. The co-founder of 2Point2 Capital, the Mumbai-based PMS firm, had in a blog post on December 6, 2016 raised suspicion over the numbers of the Baroda-based Manpasand Beverages, which sells fruit drinks and juices under the Mango Sip and Fruits Up brands.
Titled “The curious case of Manpasand Beverages,” Mantri pointed out that Parle Agro’s Frooti, despite being a 30-year old brand, a large advertising budget and an extensive distribution reach, could not achieve what Manpasand had. In North, West and East India, Manpasand had achieved 60%+ of Frooti’s scale in volumes. “This is a phenomenal achievement considering Manpasand spends precious little in terms of advertising and has a limited retail reach. How then did this company achieve such a large scale in such a short time?” wrote Mantri. Among the other red flags, he also questioned the low co