NewswireToday - /newswire/ -
Hyderabad, Andhra Pradesh, India, 2009/08/10 - Bangalore based Plastic Packaging Technology Major, Manjushree Technopack Ltd (Manjushree) registered impressive growth figures for the quarter ended 30th June, 2009.
All key indicators ranging from Sales Turnover to PBDIT, PBT & PAT grew at impressive rates ranging from 45-60%, 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 performance for the same quarter in the previous year) were as follows:
• Sales turnover of Rs 3454 Lacs (Rs 2383 Lacs) – Growth of 45%;
• PBDIT of Rs 655 Lacs (Rs 410 Lacs) – Increase by 60%;
• PBT of Rs 403 Lacs (Rs 278 Lacs) – Increase by 45%;
• PAT of Rs 266 Lacs (Rs 182 Lacs) – Increase by 46%;
The Board met on 7th August 2009 and adopted the audited financial results for the 1st quarter ended 30th June 2009. The numbers were impressive even when compared to the previous quarter ended 31st March 2009; turnover registering an increase from 2972 Lacs to 3454 Lacs and PAT registering an increase from 199 Lacs to 266 Lacs. The diluted EPS, compared to the first quarter last year, moved up from 1.34 to 1.96. The promoter share holding in the firm moved up marginally from 54.74% to 54.99%.
Commenting on the Results, Mr. Vimal Kedia, Managing Director, said, “I am extremely pleased with the performance during the 1st quarter and am sure that this will hold us in good stead for the rest of the year. We had a great 2008-09 that saw capacity expansion of more than 100% and an increase in PAT of more than 70%. With our rapid capacity addition and leadership position in the supply of PET Preforms for the beverages industry, we are confident that we will do even better during this financial year.”
The Board of Directors also approved and took on record the order dated 6th August 2009, placed by the Company to Husky Injection Molding Systems, Canada, for supply of HyPET 400 HPP P100/120 E 140 Machine with auxiliary equipment. The total landed cost of equipment with duties etc. is estimated to be around Rs. 16.50 crores. The entire cost is proposed to be funded by the company out of internal accruals. This will be the fourth Husky Machine ordered by the company during the last 2 years (out of which 3 machines are already fully operational) and will help meet demand for PET Preforms from the Carbonated Soft Drinks and Bottled Water segment.
About Manjushree Technopack Ltd.
Bangalore based plastic packaging major, Manjushree Technopack Ltd. (manjushreeindia.com), 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.
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