Cygnet Industries, a unit of Kesoram Rayon, is eyeing a revenue of Rs 400 crore in the fiscal 2019-20 from the present levels of around Rs 350 crore, a company official said.
The official said the company was betting big on bio-degradable food wrapping solutions which would compete with the aluminium foil wraps and other similar products.
He said that the size of the food wrapping industry for household use would be around 1200 metric tonnes per month.
Kesoram Rayon, a B K Birla group company was among the few players in the world to manufacture food-grade transparent paper made purely from wood with high levels of cellulose content, he said.
Popularly known as cellophane paper, the company launched 'Kesophane' wraps which according to the official, was highly bio-degradable.
The product was also having industrial applications as well, he told reporters Wednesday evening.
A wholly-owned subsidiary of Kesoram Industries, Cygnet Industries had been in the business of transparent paper since 1961 with its manufacturing facility at Hooghly in West Bengal.
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