Public listed packaging major Manjushree Technopack Ltd. announced the results for the quarter ended June 30, 2012. The revenue for the period stood at Rs 9,296 Lacs, while Profit before Tax (PBT) stood at Rs 1,059 Lacs and Profit after Tax (PAT) stood at Rs 714 Lacs. The fully diluted EPS for the quarter was Rs. 5.27. The Board met on, August 8 2012, to adopt the un-audited financial results in compliance with statutory guidelines.
Speaking about the results, Mr. Vimal Kedia, Managing Director, said, "We are taking a multifaceted approach in growth which is in line with our strategy. On the business front, we have ventured into newer segments like liquor. On the expansion side we have successfully added 5000 sq. mts of factory space to our existing facility, and are on track with the development of the new manufacturing facility, which will be operational by October this year. We will continue to serve the growing demand from the FMCG segment and explore opportunities in the international markets as well."
Manjushree Technopack is the largest convertor of PET in the country, with an existing capacity of 50,000 MTPA. This is expected to further increase with the commissioning of new greenfield manufacturing plants, being set up at an investment of Rs. 150 crore. The company is well on target to completing construction of the manufacturing plant in Bidadi, Karnataka. Manjushree has also recently set up a 3.4 MW wind power plant in Chikkodi, Karnataka, as part of its plans to gain energy security.
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 also saw the company adding new clients, like United Spirits Limited, Reckitt Benckiser, Bacardi, Diageo and Big Cola for PET containers and Preforms.