Manjushree Technopack Ltd has invested Rs 75 crore in setting up a new manufacturing facility in Bidadi.
Another Rs 50 crore have been committed for development of the plant, increased automation, and high-end machinery and infrastructure. The construction of the manufacturing facility is well on its way to completion and will be operational from end of 2012.
Speaking to FnB News, Surendra Kedia, executive director, Manjushree Technopack Ltd, said, "There is huge scope for growth in the Indian packaging industry. Therefore expansions by Manjushree were required."
In order to increase the volumes and production capacity, the company will be installing state-of-the-art machinery at the new plant. The current capacity of 50,000 MTPA will grow to 65,000 MTPA, registering close to a 30 per cent increase. With this enhanced capacity, Manjushree will be further strengthening its position in the rigid packaging and PET conversion space in the country.
The packaging major has been growing consistently for the last 10 years. It registered a turnover of Rs 78 crore in 2008-09 and Rs 310 crore in FY 11-12. The company has witnessed a consistent growth of 25-30% every year by way of additional capacities and new businesses.
Manjushree is expecting to achieve a forecast of 100,000 MTPA by 2015-16, from the exponential growth that will result with the full implementation of the new plant. An additional greenfield project in Harohalli industrial area is part of the plan, for which land has already been procured from the industrial board. This plant is expected to be commissioned by September 2013.
Speaking specifically about the company's order book, he said that FY 2012-13 has been an active and exciting period. Additional capacities for existing orders in the liquor and alcobev segment have been planned. Manjushree has also signed on new clients such as USL, Diageo, Bacardi, General Mills, Reckitt Benckiser, Marico, and Big Cola and more clients from the international circuit for exports to regions in the Middle-East, Africa and European countries.
The company is actively working towards recycled PET, bio-degradable PET, and other eco- friendly measures for sustainability.
