Manaksia Group Sets Rs 120cr Sales Target

The Manaksia group of companies is set to consolidate its hold over the crown closure (CC) and roll on pilfer proof (ROPP) caps market with the commencement of production at its Silvassa unit in mid-1996.

Manaksia group, with a string of operating units spread all over the country, has reported a sales turnover of Rs 97 crore and has set a target of Rs 120 crore at the end of the present financial year.

According to estimates, the soft drink market alone will have a growth rate of 40 per cent in the next five years. At present the soft derink market has a growth rate of 35 per cent.

Consequently, the demand for crown closures is also likely to go up. The Silvassa project, set up in Dadra & Nagar Havelli, will turn out only crown closures.

In the crown closure area, the Manaksia groups market share of 34 per cent is likely to go up with commencement of the new Silvassa project.

In this area, Larsen &Toubro follows in rankings with a market share of 30 per cent, Oriental Containers of Bombay comes third (15 per cent) and Asoka Metals (10 per cent) fourth.

The total market size for crown closures is 3.5 lakh cases annually, one case containing 14,400 caps.