Manjushree net up 82% in Q4

Aided by improved demand from the FMCG sector for PET bottles and jars, the Bangalore-based Manjushree Technopack Ltd, a provider of rigid plastic packaging solutions, has reported an 82 per cent rise in net profit at Rs 6.56 crore for the fourth quarter-ended March 31, 2012 compared to the corresponding quarter last fiscal. The net sales for the period were up 30 per cent to Rs 87.58 crore as against the year ago period.

The company’s operating profit for the fourth quarter also increased 51 per cent to Rs 12.59 crore as against Rs 8.33 crore reported in the fourth quarter last year.

The board also proposed 10 per cent dividend for the shareholders.

Vimal Kedia, Managing Director, Manjushree Technopack Ltd, said, “This year has seen us reach greater heights and the Rs 300 crore turnover is a significant landmark for us. We also witnessed a 100 per cent increase in our exports last year and we expect it to double this year as well, with huge demand for PET Preforms from countries like USA, South and West Africa and Thailand. We hope to close the next year at over Rs 400 crore.”

Manjushree works with companies including Coca Cola, Pepsi, Bisleri, Cadbury, Unilever, GSK, P&G among many others.