Indian plastic packaging firm expands after 31% sales hike

By Jenny EAGLE

- Last updated on GMT

Manjushree Technopack factory floor, Bagalore, India
Manjushree Technopack factory floor, Bagalore, India

Related tags Coca-cola

Manjushree Technopack, which works with Coca Cola, Pepsi and Bisleri Indian bottled water, has announced its FY14 Q1 results as it plans to build a second factory in Bangalore.

In comparison to last year’s first quarter, the company saw sales rise by 31%, Profit before Tax (PBT) grew by 42% and Profit after Tax (PAT) grew by 28%. The EPS for the quarter was Rs6.74 as against Rs5.27 last year.

The company announced its revenue for the period stood at Rs12,215 lakhs (US$19,945874), while Profit before Tax (PBT) stood at Rs1505 lakh (US$2,457,515) and Profit after Tax (PAT) stood at Rs913 lakh (US$1,490,838). The EBITDA grew at Rs3028 lakh (US$4,944,421)

Dairy and edible oil

As part of our growth strategy, in recent months we have made significant inroads into the dairy and edible oil industry,” said Vimal Kedia, MD, Manjushree Technopack​.

We have also seen an increasing demand for PET packaging in the pharma and personal care segment. Consistent growth across all verticals combined with operational efficiencies has contributed to our healthy financials for several years now​.”

Big brand clients

The firm, which names Cadburys, Unilever, GSK and P&G among its clients, is the largest convertor of PET in the country, with a capacity equal to 10% of the total PET consumption in India.

It has a LEEDs certified manufacturing plant in Bidadi Industrial Area, Bangalore, which has boosted its current capacity to 80,000 MTPA and plans for a Greenfield project in Harohalli Industrial Area, Bangalore are under construction.

This year the company added clients United Spirits Limited, Reckitt Benckiser, Bacardi, Diageo and Big Cola to its portfolio.

Established in 1984, Manjushree has expertise in rigid plastic packaging including - PET, PP, Multilayer-barrier containers and PET Preforms that utilize European, Japanese and Canadian technologies.

In the last year, it has commissioned two Husky Systems for PET Preforms and four ASB blow moulding machines to manufacture PET bottles for the beverage and bottled water industry.

Related topics Business Industry growth South Asia

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