Manjushree Technopack-Q2 results: Profit up by 75%, Sales grow by 25%

12-Nov-12

Key performance highlights for the quarter ended September 30, 2012: (Figures in brackets represent performance for the quarter ended September 30, 2011) Net sales of Rs. 7516 Lacs (Rs. 5998 Lacs) – Growth of 25% PAT of Rs. 468 Lacs (Rs. 268 Lacs) – Up by 75% PBT of Rs. 787 Lacs (Rs. 357 Lacs) – Increase by 121% The fully diluted EPS is Rs. 3.46 (Rs. 1.98) New Greenfield manufacturing plant to be commissioned in Bangalore next month: to take capacity beyond 65,000 MTPA Packaging major Manjushree Technopack Ltd, the largest PET Bottles & PET Preforms Manufacturer in the country today announced the results for quarter ended September 30, 2012. While sales grew to Rs 7516 Lacs from Rs 5998 Lacs, registering an increase of 25%, Profit before Tax (PBT) grew by 121% (Rs 787 Lacs, from 357 Lacs) and Profit after Tax (PAT) grew by 75% (Rs. 468 Lacs, from Rs. 268 Lacs). The fully diluted EPS for the quarter stood at Rs 3.46. The Board met on November 10th 2012 to adopt the un-audited financial results. Speaking about the results for Q2, Mr. Vimal Kedia, Managing Director, said, “The beverage segment has particularly performed well this quarter. The added production capacity for liquor and beverage segments has also contributed to growth in the top-line and bottom-line. Manjushree is aggressively investing in growth and we expect to see even better results in the coming quarters”. Manjushree Technopack is the largest manufacturer of PET Bottles & Preforms 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 complete construction of its third manufacturing plant in Bangalore. This will be completely automated and will be the largest such facility in South – East Asia. The plant will also be a LEED Platinum certified manufacturing facility, one of the very few such facilities in the country. Some of the leading brands that Manjushree works with include Coca Cola, Pepsi, Bisleri, Cadburys, Unilever, GSK and P&G. This year saw the company adding to its portfolio, new clients like United Spirits Limited, Reckitt Benckiser, Bacardi, Diageo and Big Cola for PET Bottles and PET Preforms businesses.