SME Times News Bureau | 30 May, 2013
Manjushree Technopack Ltd-- a fast growing manufacturing company dealing into PET bottle & preform has registered a growth of 17 percent in its consolidated revenue for the year ended March 31, 2013 at Rs. 361 crore as against Rs. 309 crore for the same period last year, the company said in a press release in New Delhi on Wednesday.
The company's Profit Before Tax (PBT) grew by 25 per cent and Profit After Tax (PAT) grew by 18 per cent. The Board met recently to adopt the audited financial results.
"This has been an important year in the 30 year history of Manjushree. The commissioning of the state-of-the-art production facility has greatly enhanced our capabilities, particularly in the rapidly growing PET perform segment. In addition to the significant increase in capacity, the level of automation that we have adopted in the new facility is also expected to improve efficiencies and reduce manpower costs," Vimal Kedia, Managing Director (MD) of the company said in his statement.
"While we continue to work with the best in the FMCG business, we are also happy to have added new industry segments and clients to our portfolio in the past year. We promise to continue our focus on growth into the coming years," he added.
Manjushree had committed investments of Rs 150 crores for two new green-field facilities in Harohalli and Bidadi. The Bidadi facility has total capacity that has increased from 50000 MTPA to 80000 MTPA – equivalent to 15 per cent of the total PET consumption in India.
The company has specialty plastic packaging products for domestic and export markets. It caters to the needs of leading companies in the FMCG, Pharma and Food & Beverages sectors; including the likes of Coca Cola, PepsiCo, GSK, Nestle, Unilever, Pfizer, DelMonte, TATA Tea and Mondelez International (formerly known as Cadbury).
Manjushree has also forayed into new segments like liquor, personal care, dairy and edible oils. Names like United Spirits, Reckitt Benckiser, Bacardi, Diageo and Big Cola have been added to the client portfolio for the PET Bottles and PET Preforms businesses.