Mega Flex Plastics Ltd - Stock Valuation and Financial Performance

The company was originally incorporated as a Private Limited Company in the name of “Mega Flex Plastics Private Limited” on November 18, 2003 under the provisions of the Companies Act, 1956 bearing Corporate Identification Number issued by the Registrar of Companies – West Bengal. Subsequently, the company was converted into a Public Limited Company under the provisions of the Companies Act, 1956, and the name of the Company was changed to “Mega Flex Plastics Limited” vide a fresh Certificate of Incorporation consequent upon conversion from Private Company to Public Company dated February 01, 2007 bearing Corporate Identification Number issued by the Registrar of Companies – West Bengal.

Mega Flex Plastics is primarily engaged in manufacturing of Leno Bags which is used for packaging of agricultural produces like potatoes, onions, garlic, coconuts, fruits and vegetables. In addition to Leno Bags, the company is also manufacturing Woven Fabric and Sutli (Fibrillated Twisted Thread). The product which it majorly manufacture i.e., Leno Bags is made from Plastic Granules and is used multiple times for storage of fruits and vegetables. The said product is widely used in Cold Storages and warehouses for storage of various products. The company’s state-of-the-art plant for manufacturing PP Leno Bags is situated at Sudha Ras Food & Poly Park (Industrial Park), Howrah in the state of West Bengal, India. The plant is strategically located on NH-6, about 120 km from international all-weather port of Haldia and around 30 kms from Kolkata port, which gives it excellent connectivity and transport facilities.

The efficient and motivated workforce and with thrust on maintaining machine efficiency, it was able to achieve optimum level of production year after year. Strict production supervision and special focus on quality control ensured that only quality Leno bags products reached to the customers. Its bags are trusted upon by the customers. Its brands include Lenoflex, Kisan, Kisan Regular, Goldflex, Goldflex Lite, Tiger, Tiranga, Hena. The Lenoflex is most preferred brand for storage of potato when the farmer looks for the quality. It also exports Leno Bags to European countries and its quality is well accepted there also. It is also capable to produce Sutli (fibrillated Twisted Thread) as per the demand.

Business area of the company

Mega Flex Plastics is primarily engaged in manufacturing of Leno Bags which are used for packaging agricultural products like potatoes, onions, garlic, coconuts, fruits and vegetables. The company is also manufacturing Woven Fabric and Sutli (Fibrillated Twisted Thread).

Major Events and Milestones

• 2003: Incorporation of Company.
  
• 2006: Allotment of Factory land in Sudha Ras Food &Poly Park by WBIDC Limited.
  
• 2006: Commencement of Civil Construction.
  
• 2007: Converted into Public Limited Company.
  
• 2007: Registration of Factory Land.
  
• 2007: Commencement of Production.
  
• 2009: First export order executed (to Europe).
  
• 2009: Capacity expansion- 17 looms added.
  
• 2009: Secured order from DGS&D for supply of woven sacks for packing of food grains.
  
• 2010: Capacity expansion- 3 looms added.
  
• 2020: Achieved production of 20 million bags in 2009-10.
  
• 2011: Capacity expansion- 6 looms added.
  
• 2011: Achieved production of 30 million bags in 2010-11.
  
• 2014: Achieved production of 40 million bags in 2003-14.
  
• 2015: Purchase of office premises at 4 Ho Chi Minh Sarani, Kolkata.
  
• 2016: Installed additionally 1 loom.
  
• 2018: Installed additionally 6 looms.
  
• 2018: Achieved production of 50 million bags in 2017-18.
  
• 2019: Registered office shifted to own premises at 4 Ho Chi Minh Sarani, Kolkata.