PRTODAY / NewswireToday Free press release distribution service network

Written by / Agency / Source: AIM HIGH Consulting

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Manjushree Technopack Registers 70% Increase in PAT for Year Ending 31st March 2009 - The Board also took on record the results of the fourth quarter
Manjushree Technopack Registers 70% Increase in PAT for Year Ending 31st March 2009

 

NewswireToday - /newswire/ - Bangalore, Karnataka, India, 2009/06/30 - The Board also took on record the results of the fourth quarter.

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Manufacturing/Robotics Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Bangalore based Plastic Packaging Major, Manjushree Technopack Ltd (formerly Manjushree Extrusions Ltd) announced impressive growth figures for the year ending 31st March, 2009. All key indicators ranging from Sales Turnover to PBDIT, PBT & PAT grew at impressive rates ranging from 40 – 70%, confirming at once the health of the plastic packaging industry and Manjushree’s status as a leader – in growth and profitability. Key performance highlights (Figures in brackets represent the financial performance in the previous year) are as follows.

The Board met on 27th June, 2009 and adopted the audited financial results for the financial year ending 31st March 2009. For the 12 months ended 31st March, 2009, the company registered a turnover of Rs 11,878 Lacs (Rs 8,500 Lacs) recording an increase of 40%. Operating profit before interest, depreciation, exceptional items and taxes was also higher by 46%, while the profit before tax grew to Rs 1,146.42 Lacs recording an increase of 69%. Net profit after tax increased by 70% to Rs 749.26 Lacs (Rs 440.17 Lacs). The fully diluted EPS stood at Rs. 5.53, portraying a significant increase from last year’s Rs. 3.25.

Commenting on the Annual Financial Results, Mr.Vimal Kedia, Managing Director, said, “We are pleased with the performance this year, especially considering the market conditions. We have utilized the past year for capacity expansion to meet demands from the beverages segment and on strengthening our relationships with key clients in FMCG, F & B and Pharma. Our Company won the highest recognition in Packaging – the WorldStar Awards for two of our designs (including one for Multilayer Packaging). We also got the ISO: 22000 Certification for Manufacturing, during the past year. We look forward to continuing this good performance in the coming year by focusing on more innovations and developing customized solutions”.

Among the other highlights of the financial year were the 3 year deal inked with Hindustan Coca Cola Beverages, for supply of PET Preforms. Manjushree is also supplying PET Preforms to big beverage brands like Pepsi co and Bisleri. Two 96’ cavity Husky machines were commissioned during the year, registering a 250% increase in the manufacturing capacity for PET Preforms (a daily production of 2.5 million PET Preforms) and a consequent 140% increase in the total capacity (from 10,000 metric tonnes to 24,000 metric tonnes). During the past year, Manjushree also added a new customer vertical in the form of alcoholic beverages, supplying PET bottles to clients like Khodays and Amrut Distilleries among others. Currently, 3 lac PET bottles per day are being manufactured for the IMFL segment.

The Board also decided on the change of name of the Company from Manjushree Extrusions to Manjushree Technopack and the delisting of the shares of the Company from all regional stock exchanges except the BSE, where it will continue to be traded. A Capital Expenditure plan of about 30 crores for the current year and next year to increase capacity by another 7,000 metric tonnes was also announced. The company has declared and paid an interim dividend of 10% and the same may be considered final dividend for 2008-09. It was also confirmed that the expansion cum diversification plan as per composite issue has been completed by 31.03.09.

• Turnover of Rs 11,878.43 Lacs (Rs 8,500 Lacs) – Growth of 40% •PBDIT of Rs 1,743.55 Lacs (Rs 1,196 Lacs) – Increase of 46% • PBT of Rs 1,146 Lacs (Rs 676.99 Lacs) – Increase by 69 % • PAT of Rs 749.26 Lacs (Rs 440.17 Lacs) – Increase by 70%

The turn over the period increased from Rs.2, 568 Lacs to 3,229.9 Lacs. The quarter ending 31st March, 09 also noted an increase in PAT from 124.47 Lacs to Rs.199.10 Lacs.

Manjushree Technopack is set to celebrate its 25th year in the Packaging Industry and will be conducting its second All India FuturePac Conference, this time focusing on the Beverages segment, in July 2009. The Company has also announced the Manjushree Awards for Packaging Innovation and Excellence, a first of its kind, in the industry.

About Manjushree Technopack Ltd
Bangalore based plastic packaging major, Manjushree Technopack Ltd., is a $25 million (Rs.120 crore) listed public limited company, with over 25 years of packaging experience in India. Involved in the manufacture of specialty plastic packaging products for domestic /export markets, it caters to the needs of leading companies in FMCG, Pharma and Food Processing sectors.

Established in 1982, Manjushree has built expertise in all kinds of rigid packaging solutions including - PET Containers, Multilayer PP Containers and PET Preforms, that utilise European, Japanese and Canadian technologies. In the last year, it has commissioned two state of the art Husky Systems to manufacture PET Preforms for the beverage and bottled water industry.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Manufacturing/Robotics Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: AIM HIGH Consulting

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Manufacturing/Robotics articles,
CATCH Visitors via Your Competitors Announcements!


Manjushree Technopack Registers 70% Increase in PAT for Year Ending 31st March 2009

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

|
Publisher Contact: Priya Mathew - AIMHIGHIndia.com 
+91 40 40168439 priya[.]aimhighindia.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any AIM HIGH Consulting securities in any jurisdiction including any other companies listed or named in this release.

Manufacturing/Robotics via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From AIM HIGH Consulting / Company Profile


Read Manufacturing/Robotics Most Recent Related Newswires:

PPG Central Europe Aerospace Center Approved for Airbus Sealants Packaging
ADVA Optical Networking Transforms the Metro with New Levels of Flexibility, Scale and Synchronization
Persistence Market Research Releases Fatty Acid Methyl Ester Market Report - Global Industry Overview by 2025
Automatic Edge Bending Machine Market Has Limited Global Players - Homag, Biesse, Scm Group, Brandt Finds PMR
Persistence Market Research Publishes Global Combi Oven Market Report - Key Players Unox, Convotherm, Rational, Turbofan, Blue Seal, Electrolux
ITT to Showcase Portfolio of Critical In-Flight Solutions at 2017 International Paris Air Show
Rockwell Automation Continues to Expand MES Applications to Increase Flexibility, Ease Entry to Smart Manufacturing
BrainChip Holdings Ltd and Safran Collaborate on Development of Machine Vision Inspection System for Harnesses Production Activities
Demand for Advanced Manufacturing and Automation Solutions Surges with the Rise of Industry 4.0 Finds Frost & Sullivan
American Chemistry Council Recognizes BASF as Responsible Care Company of the Year
Atlas Copco to Acquire Swedish Mining Intelligence Business
EPA Recognizes BASF as Safer Choice Innovator
PPG Uses OPTICOR Advanced Transparency Material for BLADE Windows
Atlas Copco Opens New Headquarters for Specialty Rental Business in Europe
PPG Completes Sale of Plaka Plasterboard Business to Knauf

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  JobsWare.com

Visit  La Bella Bakery Artisan Bakery Arizona





 
  ©2017 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)