As overseas demand for PET grows, Manjushree Technopack's exports could double
The growth in the international earnings comes in the wake of the demand for PET Preforms from the d…The growth in the international earnings comes in the wake of the demand for PET Preforms from the developed and developing countries.
"We witnessed a cent per cent increase in our exports last year and we expect it to double this year as well, with growing interest for PET Preforms from the USA, South and West Africa and Thailand. Our strong focus on innovation has seen us introduce new designs like the short-neck preforms, and we expect significant demand, particularly from the beverages segment, for such designs. We hope to close next year's earnings at over Rs 400 crore from the current Rs 300-crore turnover. It is only a year ago that we crossed Rs 200 crore," said Vimal Kedia, managing director, Manjushree Technopack Ltd.
The company has registered a growth of more than 30 per cent profit after tax (PAT) for the fifth year in a row. Its net sales increased by 43 per cent from Rs 21,618 lakh in the previous year to Rs 30,978 lakh this year. Its new manufacturing facility in Bengaluru is expected to be operational by October 2012. The current total capacity stands at 50,000 million tonnes per annum (MTPA), which is the largest convertor of PET in the country. This is expected to grow to 1,00,000 MTPA by 2015, with the commissioning of new plants in Bengaluru, being set up at an investment of Rs 150 crore, stated the Manjushree chief during the board meeting of the company's annual results for financial year ending March 31, 2012.
Recently, Manjushree also set up a 3-megawatt (MW) wind power plant at Belgaum, Karnataka, as part of its plans to gain energy security. While a set amount of the harnessed power will be used internally, Manjushree also plans to distribute the power to the state electricity supply companies. The company further plans to expand its generation capacity to 20MW in the next 3 years. Further, it expects to earn carbon credits from this investment.
Some of the leading brands that Manjushree works with include Coca-Cola, Pepsi, Bisleri, Cadburys, Unilever, GSK and P&G, among many others. This year, the company added new clients, like United Spirits Limited and Reckitt Benckiser, Bacardi, Diageo and Big Cola for PET containers and Preforms.
The company has over 25 years of packaging experience. It is engaged in the manufacture of specialty plastic packaging products for the domestic and export markets and it caters to the needs of leading companies in the FMCG, pharma and food & beverage sectors. The company's expertise spans all kinds of rigid plastic packaging solutions, including PET, PP, multilayer-barrier containers and PET Preforms that utilise European, Japanese and Canadian technologies. Last year, it commissioned two more advanced Husky Systems for PET Preforms and four ASB blow-moulding machines to manufacture PET bottles for the beverage and bottled water industry.
