Manjushree Technopack closes registers growth of over 30% in PAT for fifth consecutive year

Bangalore based Manjushree Technopack Ltd, leaders in rigid plastic packaging in the country, announced their annual results for financial year ending March 31, 2012. The company has crossed an impressive Rs. 300 crore mark this year and has registered steady growth across all key performance indicators like sales turnover, PBT and PAT. Key performance indicators for FY 2011-2012 are as follows (Figures in brackets represent the financial performance in the previous year): Turnover of Rs. 30,978 Lacs ( Rs. 21,618 Lacs) – Increase of 43% PBT of Rs. 3,033 Lacs (Rs. 2,260 Lacs) – Increase of 34% PAT of Rs. 2,050 Lacs (Rs. 1,479 Lacs) – Increase of 39% Key performance indicators for the fourth quarter are as follows (Figures in brackets represent the financial performance in the same quarter in the previous year): Turnover of Rs. 8,759 Lacs (Rs. 6,736 Lacs) – Increase by 30% PBT of Rs. 982 Lacs (Rs. 550 Lacs) – Increase by 78% PAT of Rs. 656 Lacs (Rs. 361 Lacs) – Increase by 82% Announcing the results, Mr. Vimal Kedia, Managing Director, Manjushree Technopack Ltd, said “This year has seen us reach greater heights and the Rs 300 crore turnover is a significant landmark for us. It is only a year ago that we crossed Rs. 200 crores. We also witnessed a 100% increase in our exports last year and we expect it to double this year as well, with huge demand for PET Preforms from countries like 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 the next year at over Rs 400 crore.” 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 had the company adding new clients, like United Spirits Limited and Reckitt Benckiser, Bacardi, Diageo and Big Cola for PET containers and Preforms. The current capacity of Manjushree Technopack stands at 50,000 MTPA (largest in the country). This is expected to grow to 1,00,000 MTPA by 2015, with the commissioning of new plants in Bangalore, being set up at an investment of Rs. 150 crore. The company also recently set up a 3 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 20 MW in the next 3 yrs. Manjushree also expects to earn carbon credits from this investment.