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Rajshree Polypack Ltd.

BSE: 535109 Sector: Industrials
NSE: RPPL ISIN Code: INE760W01015
BSE 05:30 | 01 Jan Rajshree Polypack Ltd
NSE 10:49 | 05 Jul 196.85 6.85
(3.61%)
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Rajshree Polypack Ltd. (RPPL) - Chairman Speech

Company chairman speech

Dear Shareholders

I am pleased to present you with our 10th Annual Report providing you aglimpse of overall business performance of Rajshree Polypack Limited during financial year2020-2021.

COVID-19 pandemic while impacting global economy negatively has also changed the wayof living. The pandemic while bringing in more thrust on usage of technology in ourday-to-day lives has also resulted in higher demand for packaged food products. Yourcompany though affected by pandemic in the first half of last year was able to navigatetowards growth in second half by acting swiftly to restore operations there by managed tomaintain its turnover and profitability largely similar to earlier year.

Despite a challenging economy during the financial year 2020-2021 the Companyrecorded satisfactory performance by achieving Revenue and EBITDA of Rs.12707.22 lakhsand Rs.2038.11 lakhs as against Rs.12571.98 lakhs and Rs.1996.82 lakhs respectively forfinancial year 2019-2020. At the same time the Company also achieved overall productionvolume growth of 2.71% in Sheet Extrusion and 7.98% in thermoformed packaging products.However the Profit after Tax for the year was down to Rs. 881.86 lakhs as against Rs.926.00 lakhs for earlier year primarily on account of deferred tax adjustments.

As you may be aware that your Company is one of the leaders in Rigid ThermoformedPackaging Products and has been striving to strengthen its position further withtechnological enhancements and capacity addition. I am glad to inform you that we arefirst in the Industry in India to manufacture Rigid Barrier Packaging Products forenhanced shelf life of food products with completely integrated facility under one roofusing state-of-the-art European Machinery. Our long-term goal is to unlock the growthpotential of rigid packaging in food sector in India and become a recognized global playerin the segment by increasing our share in global rigid packaging industry.

In that direction we have successfully completed expansion plan of Unit II at Damanresulting into additional capacity of 4000 metric tons per annum of Extrusion and 2000Metric Tons per annum of Thermoforming. The commercial production from such expandedcapacity commenced from June 2021.The new unit will generate additional 80 - 100 jobs inDaman. We hope that this will help us bringing more production efficiency developing andlaunching newer product lines in the packaging industry and getting new customers.

At the same time consolidation & modernization of Unit I & Unit III is also inprogress and is expected to be complete by January 2022. This will help us in reducingcost of manufacturing and capacity enhancement by more than 15% of current combinedcapacity of Unit I and Unit III.

With our continuous business development initiatives we have been able to strengthenour position in the dairy sector and developed 15 new and more-value added products apartfrom Barrier trays and rigid sheets for MAP and retort application. We aim to continuefocusing on the dairy segment as one of our key customer segments so as to be a formidableforce in dairy packaging. Food packaging is another key focus area and we have startedsupply packaging containers to restaurant industry under agreement with the largee-commerce players catering to the segment. The response has been encouraging and we shallcontinue to build our strengths in the segment. We have also developed barrier trays forReady-to-Eat meals for one of the top industrial houses in India. Further we have alsobeen identifying and adding customers in other segments of packaged food with requirementfor complex or value added products. At the same time we have also increased our businessstrength by appointing experienced people at the key position both in the field ofoperations and marketing.

You would be glad to know that your Company stands committed to a sustainableenvironment and has been taking requisite steps in that direction. In this context wehave tied up with Rapidue Technologies Private Limited "Recykal" for plasticwaste collection & recycling and meeting EPR Requirements. Here it will not be out ofplace to mention that almost all the products being manufactured the Company are theenvironment friendly recyclable products. Further your Company is now completely equippedto manufacture PLA and other Compostable products as per market demand.

As we look ahead on behalf of the Board of Directors I take this opportunity toexpress my sincere appreciation to our Shareholders Banks & Financial InstitutionsEmployees customers and suppliers for your support and trust. I seek your continuedsupport to grow and progress our Company to greater heights.

Best wishes

Company Overview

With almost 2 decades of experience in plastic packaging industry we are one of theleaders in manufacturing of Rigid Plastic Sheets and Thermoformed Packaging Products.

>? 3 manufacturing facilities at Daman Equipped with state-of-the-art machinerywith annual extrusion capacity of over 14200 MT and thermoforming capacity of over7220MT with morethan 135 products.

*? Products range includes packaging for dairy industry food and beverages bakery andconfectionaries trays for sweet and snacks punnets for fruits and vegetables electronicpackaging etc.

Strive to ensure excellent shelf visibility with various decorations/design optionslike printingand sleeving.

>? In rigid packaging we offer sheets of PP/APET/GPET/HIPS which are sold for 'formfilled sealed' ("FFS") application for box making & vacuum formingapplications.

First in the Industry in India to manufacture Rigid Barrier Packaging Products withcompletely integrated facility under one roof using state-of-the-art European Machinery.

BRC certified for Global Standards for Packaging and packaging Materials.

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