Manjushree Technopack registers 97% growth in PAT in the Quarter ended June 2010

Top Quote Manjushree Technopack, the Bangalore based packaging major today announced the results for the quarter ended June 30, 2010. Manjushree has registered a 97 percent increase in net profit after tax (PAT) from Rs. 266 Lacs last year to Rs. 525 Lacs this year. End Quote
  • (1888PressRelease) August 11, 2010 - The company's revenues have also sharply risen from Rs 3738 Lacs in the corresponding quarter in the previous year to Rs. 6179 Lacs for the quarter ended June 30, 2010, showing an increase of 65 percent.

    Brackets= Prev Yr. same quarter Figures -

    PAT of Rs 525 Lacs (Rs 266 Lacs) - Increase by 97%
    Sales turnover of Rs 6179 Lacs (Rs 3738 Lacs) - Growth of 65%
    PBDIT of Rs.1335 Lacs (Rs. 655 Lacs) - Increase by 104%
    PBT of Rs. 793 Lacs (Rs. 403 Lacs) - Increase by 97%

    After providing for financial charges and amortizations, the profit before tax (PBT) has grown from Rs. 403 lacs to Rs. 793 Lacs, recording an increase of 97 percent. Operating profit before interest, depreciation and taxes (PBDIT) is also higher by 104 percent at Rs 1335 Lacs compared to Rs 655 Lacs. The fully diluted EPS for the quarter stood at Rs 3.88 compared to Rs 1.96 during previous corresponding period.

    The Board met on August 10th 2010 to adopt the unaudited financial results for the 1st quarter ended June 30th 2010 in compliance to statutory guidelines.

    Speaking about Manjushree's performance during the quarter, Mr. Vimal Kedia, Managing Director, said "Our strong results portray Manjushree Technopack's commitment to growth and highlight our intentions to continue to be the market leader in domestic markets, besides maintaining our thrust on the export markets. Backed by firm commitments from FMCG, Liquor and beverage sectors, we expect to perform even better in the coming quarters. Owing to growing demand from our customers, Manjushree has also expanded its capacity to 29780 MTPA by commissioning 2 more Nissei ASB 70 DPH Machines during the 1st Quarter, to manufacture PET Bottle & Jars."

    Manjushree Technopack has announced further expansion this year, thereby increasing the installed capacity to 36000 MT, which would be the largest in the country. Further investments of over Rs.200 crores have been committed over next two years for new facilities at Bidadi and Harohalli Industrial Area in Bangalore. The MOU for the same has already been signed with Government of Karnataka.

    About Manjushree Technopack:

    Bangalore based plastic packaging major, Manjushree Technopack Ltd. (Formerly Manjushree Extrusions Limited), is a Rs 1650 million listed public limited company, with over 25 years of packaging expertise in India. Involved in the manufacture of specialty plastic packaging products for domestic and export markets, it caters to the needs of leading companies in FMCG, Liquor, Carbonated Soft Drinks, Pharma and Food Processing sectors. Over the years, Manjushree has built expertise in providing rigid packaging solutions for PET, Monolayer and Multilayer Containers by utilizing European and Japanese technologies.

    Manjushree Technopack is the only rigid packaging company offering total packaging solutions under one roof, right from Concept to Design, R&D, Tooling and Commercialization of the package.

    For editorial queries, please contact:

    Sukhi Raghunath / Deepansh Agarwal

    9986754074 / 9886350189

    sukhi ( @ ) aimhighindia dot com / deepansh ( @ ) aimhighindia dot com

    Aim High Consulting

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