Manjushree Technopack Ltd Closes FY 12-13 With Turnover of Rs 361 Crore

BANGALORE, India - May 29, 2013 - PRLog -- Highlights for the year ending March 31, 2013:

Net sales: Rs. 36,122 lacs (Rs. 30,978 lacs) – Growth of 17%
PAT: Rs. 2,414 lacs (Rs.2,050 lacs) – Up by 18%
PBT: Rs. 3,781 lacs (Rs. 3,033 lacs) – Increase by 25%
Fully diluted EPS is Rs. 17.82 (Rs. 15.13)
Exports up by 55%
Commissioning the new facility in Bidadi (Bangalore, Karnataka); the single largest PET preform manufacturing plant in South Asia and increase in total capacity from 50000 MTPA to 80000 MTPA

South Asia’s largest PET Bottle & Preform Manufacturer Manjushree Technopack Ltd, has registered a growth of 17% in its consolidated revenue for the year ended March 31, 2013 at Rs. 36,122 lacs as against Rs. 30,978 lacs for the same period last year. The Board met on May 28 to adopt the audited financial results. Profit Before Tax (PBT) grew by 25% and Profit After Tax (PAT) grew by 18%. The fully diluted EPS for the quarter stood at Rs. 17.82 as against Rs. 15.13 for the same period last year. Manjushree exports to the Middle East, Thailand, Africa and a few other countries currently and are planning to set up offices in various locations abroad. This financial year, the exports have gone up by 55%.

Mr. Vimal Kedia, Managing Director, Manjushree Technopack Ltd said, ‘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. 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.’

Manjushree had committed investments of Rs 150 Crores for two new green-field facilities in Harohalli and Bidadi. The Bidadi facility has been commissioned during the year 2012-13. and is the single largest PET preform manufacturing plant in South Asia, boosting the company’s  total capacity from 50000 MTPA to 80000 MTPA – equivalent to 15% of the total PET consumption in India. This plant is also one of the very few Green Factories in India.

Today, Manjushree Technopack manufactures specialty plastic packaging products for domestic / export markets and 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.

About Manjushree Technopack Ltd:

Bangalore based plastic packaging major, Manjushree Technopack Ltd., is a listed company with over 30 years of packaging experience. Manjushree closed 2012-2013 with a turnover of Rs. 361 Crores. Involved in the manufacture of specialty plastic packaging products for domestic /export markets, it caters to the needs of leading companies in FMCG, Pharma and Food & Beverages sectors.

Established in 1984, Manjushree has built expertise in all kinds of rigid plastic packaging solutions, including - PET, PP, Multilayer-barrier containers and PET Preforms that utilize best-in-class technology from Europe, Japan and Canada. Recently it has commissioned four more state-of- the art Preform Manufacturing Systems from Canada and four blow-moulding machines from ASB of Japan to manufacture PET bottles for the beverage and bottled water industry.

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