Manjushree Technopack net up 75.2% to Rs 4.6 crore in Q2

The company added new clients including United Spirits, Reckitt Benckiser, Bacardi, Diageo and Big Cola this year

Bangalore-based packaging solutions provider Manjushree Technopack Ltd on Saturday reported 75.2% rise in net profit at Rs 4.6 crore for the second quarter ended September 2012 compared to Rs 2.6 crore reported in the corresponding quarter of last year.

Its operating profit for the period went up 65% to Rs 9 crore compared to Rs 5.5 crore posted in the same period last year. The net income from operations increased by 25% to Rs 75 crore as against Rs 60 crore in the second quarter of last fiscal.

Commenting on the financial performance, Vimal Kedia, managing director, Manjushree said, "The beverage segment has performed well this quarter. The added production capacity for liquor and beverage segments has also contributed to growth in the topline and bottomline. Manjushree is aggressively investing in growth and we expect to see even better results in the coming quarters."

Manjushree Technopack is one of the leading manufacturers of PET Bottles & Preforms in the country, with an existing capacity of 50,000 metric tons per annum (MTPA). This is expected to further increase with the commissioning of new Greenfield manufacturing plants being set up at an investment of Rs 150 crore.

The company is well on target to complete construction of its third manufacturing plant in Bangalore. This will be completely automated and will be the largest such facility in South-East Asia. The plant will also be a LEED Platinum certified manufacturing facility.

Some of the leading brands that Manjushree works with include Coca Cola, Pepsi, Bisleri, Cadbury's, Unilever, GSK and P&G. This year saw the company adding to its portfolio, new clients like United Spirits Limited, Reckitt Benckiser, Bacardi, Diageo and Big Cola for PET bottles and PET preforms businesses.