Manjushree Technopack Limited
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BSE Code:
532950
NSE Code:
MANJUSHREE
Business Profile
Business Profile
Manjushree Extrusions (MANJU) is engaged in the manufacture of specialty plastic packaging products. It was originally incorporated as a private limited company Nov. 13, 2007, and was subsequently converted into a public limited company on Dec. 12, 1994.
The company manufactures polyethylene terephthalate PET jars and bottles using ISBM (Injection stretch blow molding) technology with a wide range of closures and sealing options ideally suited for confectionery, tea/coffee, personal care, pharmaceutical and food products. The multilayer (co-extruded) containers provide an ideal solution for products, especially foods that need to stay fresh and safe from air and moisture for a longer period of time like fruit juices and volatile liquids. PET hot fillable bottles and performs are also offered, which can be filled with liquids of temperatures of up to 85 degree celsius and can be hot filled for longer shelf life like iced tea, ready-to-drink beverages and fruit juices.
The two state-of-the-art production plants are located in Bangalore with installed capacities of 1,450 MTPA PET containers and 4,140 MTPA monolayer/multilayer and PET containers. The existing capacity is being expanded by 10,100 MTPA, thereby raising the overall manufacturing capacity of specialty plastic containers and preforms to 14,240 MT. The company has won Asia Star and India Star awards on various packaging designs and innovations. The major clients at present include Coca Cola, Hindustan Lever, Nestle, Britannia, Glaxo Smith Kline, P&G, , Tata Tea, Goodricke Group, Cadbury, McLeod, Godrej, Nutrine, Wrigley`s, Parry`s, P&G, Heinz and several others. Marketing offices at the major metros including Mumbai, Chennai and Bangalore effectively coordinate and liaise with customers across the country.
The registered and corporate office is located at 143-C5, Bommasandra Industrial Area, Hosur Road, Bangalore-560099.
Recent Developments
28-FEB-08
Effective from Feb. 28, 2008, the equity shares of Manjushree Extrusions are listed and admitted to dealings on the BSE exchange in the list of B1 group of securities.
24-DEC-07
Manushree Extrusions is coming out with a rights issue of 4,210,800 equity shares, which opens for subscription on Jan. 7, 2008 and will close for subscription on Feb. 6, 2008. Through the rights issue, the company will raise Rs 126.3 million in capital. The issue price has been fixed at Rs 30 per share. Of this, Rs 10 will go towards the paid-up capital, and the remaining Rs 20 will go into the share premium account of the company.Subsequently, there would be a follow-on public issue of 5,126,100 equity shares of Rs 10 each at a premium of Rs 35 per share aggregating Rs 230.7 million. This public issue will open on Jan. 31, 2008 and close on Feb. 6, 2008.
Future Plans
Envisaging increasing demand for its entire range of products from existing customers as well as from the export market, the company is expanding its existing capacity by 10,100 MT per annum thereby raising the overall manufacturing capacity of specialty plastic containers and preforms to 14,240 MTPA on triple shift operation basis. The total cost of the project is Rs 537 million out of which the company proposes to raise Rs 357 million through a right-cum-public issue and the balance Rs 180 million as term loan.