Manjushree Technopack Ltd - Stock Valuation and Financial Performance

Manjushree Technopack Ltd. was originally incorporated as a Private Limited company vide registration No. 2799 of 1987-88 under the provisions of the Companies Act, 1956 on 13th November, 1987 under the name and style of “Manjushree Extrusions Private Limited” with the Registrar of Companies, Assam,Shillong and later by virtue of Special Resolution passed on 12th December,1994 the Company was subsequently converted into a Public Limited Company under section Sec 21/31/44 of the Companies Act, 1956 and received an amended certificate of incorporation and the name of the Company was changed to Manjushree Extrusion Limited.

Manjushree  Extrusions is a packaging solution provider with an experience of over 21/2 decades in providing its customers with cutting edge plastic packaging solutions. With expertise, experience, a young, innovative approach & a dedicated team of qualified professionals, they offer holistic, high value solution for a variety of needs, right from container concept design to  the final production, closures & ready  to market products.

The company had initially set-up a Flexible Packaging unit at Guwahati in the year 1988-89. In the year 1995-96, the Company set-up a unit for manufacturing of PET Containers with an initial installed capacity of 600 MT at Bommasandra Industrial Area, Bangalore at a capital cost of Rs. 8.25 crores which was funded by State Bank of India to the tune of Rs. 3 crores with the balance being raised through a public issue of the company's equity shares including promoters' contribution and internal accruals.

The Company has made a Public Issue of 26,70,000 Equity Shares of Rs. 10/- for cash at a premium of Rs. 2.50 per Share aggregating Rs. 525 lacs in September, 1995 to part finance the project for setting up a unit for the manufacture of PET containers.

In order to cater to growing requirement of PET Containers in various parts of the country, particularly the western and southern sectors, installed capacity of the unit was expanded by an additional 600 MTPA during the year 1998-99. At a total cost of Rs. 4.18 crores, for which the company availed an additional term loan of Rs. 2.75 crores from State Bank of India, while the balance was met out of internal accruals of the company.

The Company enjoys a preferred supplier status in regard to the Specialty Plastic Containers, which are marketed under the brand name of “POLYPET” predominantly to MNC’s in FMCG sector; which assures a consistent market to the company’s products. The major clients of the Company at present include Hindustan Lever, Nestle, Cadbury, Britannia, Glaxo Smith Kline, P&G, Coca Cola, Tata Tea, Goodricke Group, McLeod, Godrej, Nutrine, Wrigley’s, Parry’s, Heinz, P&G, Reckitt etc. Envisaging continuous demand of the Company's entire range of Products viz. 250ml to 750 ml Bottles, 800ml to 2000 ml Jars.

Product range of the company includes:

• PET - Jars and Bottles
• PP - Jars and Bottles
• PET Preforms
• Co-extruded Multilayer Containers
• Hot-Fillable PET Bottles
• Injection Molded Products

Milestone:

• 1987-  Incorporation of the Company. Flexible Packaging Unit at Guwahati started functioning  to manufacture laminates and other plastic packaging items etc.
• 1994 - Bangalore Project for manufacturing PET Containers finalized.Converted to public limited Company w.e.f 12th December, 1994Land allotted by Karnataka Industrial Development Board and the construction began.State Bank of India gave in principle clearance.
• 1995 - Company went Public and was subsequently listed in Guwahati, Ahmedabad andCalcutta Stock Exchanges.Bangalore Unit For PET containers commenced productionMr. Vimal Kedia, Managing Director of Manjushree Extrusions Ltd, received an award from the Addiitonal Secretary & Development Comissioner-SSI, New Delhi for his contribution to the industrial development in North Eastern Region.
• 1996- Mr. Vimal Kedia, Managing Director of Manjushree Extrusions Ltd received an award from the then President of India, Mr. Sankar Dayal Sharma.
• 1998 - The first expansion with addition of two more PET ISBM Machines from Japan completed.
• 1999 - Manjushree started exporting its products to Sri Lanka and Middle East Countries.
• 2000- Manjushree was awarded with INDIASTAR 2000 (the highest recognition for excellence in Packaging) from Indian Institute of Packaging for their products.
• 2001 Manjushree was awarded with Asia Star 2000 (Award for Packaging Excellence) from the Asian Packaging Federation for their products.The second expansion with further addition of two more injection moulding machines took place.
• 2002- Manjushree was awarded with INDIASTAR 2002 (the highest recognition for excellence in Packaging) from Indian Institute of Packaging for their products.
• 2003 Manjushree started its second unit at Bommasandra Industrial Area with new technology of Multi layer and Hot Fill PET Bottle project.Third expansion at Unit I and 1st expansion at Unit II completed with addition of new equipments and technologies.Manjushree was successfully accredited with ISO certification (ISO 9001:2000) by AQSR International Inc.Manjushree was awarded with INDIASTAR 2004 (the highest recognition for excellence in Packaging) from Indian Institute of Packaging for their products.
• 2004 - Manjushree was awarded with Asia Star 2000 (Award for Packaging Excellence) from the Asian Packaging Federation for their productsManjushree brings in PPISBM Technology for the first time in the Country for their client namely M/s. GlaxoSmithKline for Horlicks and Boost packaging.Manjushree organized Furturepac Seminar on emerging trends in Rigid Packaging forDairy, Food & RTD Beverages in collaboration with M/s. Indian Plastic Institute and Reliance Industries.
• 2005 - Manjushree received an award for achieving highest rating in the ranking of India’s Top500 manufacturing small and mid sizes company from Jasubhai Digital Media.

Achievements/ recognition:

• National Award for Outstanding Entreprenuership
• Plast India Award
• ISO 9001:2000 certified
• AsiaStar 2000 award
• India Star Award 2004