Bangalore-based Rs 310 crore Manjushree Technopack Ltd (MTL), an integrated packaging solutions provider to the FMCG sector, is banking on liquor and pharmaceuticals sector for its next level of growth. The company recently bagged orders for the supply of PET (polyethylene terephthalate) bottles for a host of liquor and pharma companies.
“Growing consumption of liquor has resulted into huge demand for glass bottles. But owing to rising prices of glass and shortage, liquor companies are switching over to PET bottles. We are presently supplying miniature and medium sized PET bottles to a few companies for some selected brands,” Vimal Kedia, Managing Director, Manjushree Technopack said.
In order to meet the growing demand for PET bottles, the company is setting up two manufacturing units near Bangalore. It is opening a new unit at Bidadi with an initial capacity of 20,000 tonnes. The company is investing Rs 120 crore for this plant which will start production by the end of November 2012. Another plant will be set up at Harohalli next year. It presently manufactures 50,000 tonnes of PET bottles and pre-forms at Bommasandra facility in Bangalore. Presently, Manjushree supplies PET jars, retortable oxygen barrier multiplayer containers among others to FMCG companies like Unilever, Cadbury, Kraft, GlaxoSmithKline, Pepsi, Henkel, Tata, ITC Ltd, Heinz, Del Monte, Nestle among others.
The company is presently supplying 60 ml miniature bottles to Diageo, Bacardi, Pernod Ricard, Radico Khaitan, John Distilleries, and Amruth Distilleries. It very recently signed up United Spirits Ltd for supply of 750 ml and 180 ml PET bottles for some of their bottles.
The company has also won orders from pharmaceutical companies like TTK for Woodsworth gripewater and Arya Vaidya Shala for several ayurvedic drugs.
For the year-ended March 2012, the company reported total sales of Rs 310 crore with a net profit of Rs 22 crore.