Packaging Sector

UFlex to invest over ₹700 cr to expand packaging film capacity in Karnataka

Flexible packaging and solutions maker UFlex Ltd will invest over Rs 700 crore to expand its packaging film manufacturing line in Dharwad, Karnataka, according to a senior company official. The company will add 54,000 MTPA of new capacity at the plant, bringing its global packaging film capacity to 690,160 MTPA, up from 636,160 MTPA. "We plan to invest over Rs 700 crore to expand our packaging film manufacturing line in Dharwad, Karnataka. This project will add 54,000 MTPA of new capacity, significantly strengthening our portfolio and enhancing our ability to serve customers with scalable, high-quality packaging solutions," UFlex Ltd Group president and CFO, Rajesh Bhatia, told PTI in an e-mailed interview. The expansion in Dharwad follows the recently completed aseptic packaging capacity augmentation at Sanand, in Gujarat, where capacity was increased from 7 billion to 12 billion packs per year, he added. "In addition, three major strategic projects, including a 12-billion-pack ..

Mamata Machinery zooms 27% in two days in weak market on heavy volumes

Mamata Machinery has recorded a total cash turnover of ₹924 crore on the NSE (₹761.87 crore) and BSE (₹162.27 crore). The company's market capitalisation stood at ₹1,250 crore, data showed.

EPL shares gain after ₹11.4 crore investment in Thai unit to aid expansion

EPL shares rose nearly 3 per cent in Thursday's intraday session after it made an investment of ₹11.4 crore in its Thailand unit

Smallcap packaging stock zooms over 100% in 3 weeks. Do you own?

In the past two weeks, the stock price of Cosmo First, a global leader in films for packaging, lamination, labeling and synthetic paper, has rallied 82% after the firm reported strong Q4 earnings.

Smallcap packaging stock zooms 44% in 2 days on strong Q4 results

Shares of Cosmo First soared 20 per cent to ₹953.50 on the BSE in Friday's intra-day trade, extending its Thursday's rally, amid heavy volumes.

Suchi Semicon looks to churn out 3-4 million chips per day: MD Ashok Mehta

Mehta is confident that Suchi Semicon will receive the requisite approvals and incentives from the central government

Smallcap stock surges 56% in less than a month; zooms over 3200% in 5 years

TCPL Packaging share price hit a new high of Rs 4,679.70 as irallied 8% on the BSE in Friday's intraday trade

Anil Kumar Goel portfolio stock zoomed 15% today as Q3 profit surges 100%

TCPL Packaging share price: n the past one year, TCPL Packaging share has outperformed the market by surging 60 per cent

SIG to invest Rs 360 crore on 2nd phase of plant expansion in India

Global packaging solutions provider SIG will invest 40 million euros (around Rs 360 crore) in the second phase to increase capacity of its plant in India, a "key growth market" for the Swiss multinational, a top company official said. With the new tranche of fund infusion, the total investment of SIG at the Ahmedabad-based plant will increase to 130 million euros (around Rs 1,168 crore), including the 90 million euros of investments during the first phase. "Phase II has been activated now, the board has already approved 40 million euros. This confirms that we are in line with our mid-long term plan," SIG President & General Manager, India, Middle East and Africa, Abdelghany Eladib told PTI. Work on the second phase would be completed in the next three years by 2027, he added. Phase I of SIG, a global player in aseptic packaging and filling solutions, has been completed in just 20 months. Its current production capacity at Ahmedabad is 4 billion packs per annum, and with subsequent

Govt fixes 8.19% 'return on capital' for jute bag supplies for packaging

Indian jute mills will earn an 8.19-per cent "return on capital" for supplying jute bags for foodgrain packaging under the newly approved pricing framework by the Ministry of Textiles, a senior official said. This implies that mills will earn the predetermined percentage of profit on the capital invested, regardless of market fluctuations of input costs, he said. According to the Indian Jute Mills Association, the new pricing formula will result in only a 4-5 per cent increase in the price of gunny sack supplies. In contrast, the Office of the Jute Commissioner estimates the pricing benefit to be between 6 per cent and 8 per cent, considering various other modifications made in the new pricing policy following the Tariff Commission recommendations. The new pricing formula will be applied retrospectively from September 2016. "The total benefit impact from the current price revision in sacking bags to mills is estimated to be anywhere between 6-8 per cent, taking into account all ..

Mamata Machinery IPO to open on Dec 19; price band at Rs 230-243 a share

Packaging machinery manufacturer Mamata Machinery Ltd on Friday fixed a price band of Rs 230-243 per share for its Rs 179 crore initial share sale opening for public subscription on December 19. The public issue will conclude on December 23 and the bidding for anchor investors will open for a day on December 18, the company announced. The Gujarat-based company's initial share sale is entirely an Offer For Sale (OFS) of 73.82 lakh equity shares, by promoters, worth Rs 179.38 crore at the upper end of the price band. Those selling shares under the OFS are -- Mahendra Patel, Nayana Patel, Bhagvati Patel, Mamata Group Corporate Services LLP, and Mamata Management Services LLP. Since it's an OFS, the company will not receive any proceeds from the public issue, and the entire fund will go to the selling shareholders. The company stated that the objective of the initial share sale is to gain the advantages of listing the equity Shares on the stock exchanges. Additionally, the company .

Advent likely to sell Manjushree Technopack for nearly $1 billion to PAG

Founded in 1983, Manjushree has 21 locations across India, with its headquarters in Bengaluru, according to Advent's website

US packaging firm Amcor Plc to buy Berry in all-stock deal worth $8.43 bn

Berry's shares were up 4.4 per cent before the bell. Amcor shares were up about 1 per cent

Indian entrepreneur sells private arm of UK-based Tails Trading Group

Tails Trading Group, a UK-based supplier of multi-category consumer packaged goods led by an Indian entrepreneur, has announced the sale of its private labelling arm to a large international investor consortium for GBP 395 million. The group's labelling division has been a key supplier of a wide range of products including food and beverages, personal hygiene items, small domestic appliances and household cleaning products, with its diverse client base made up of large retailers, hotels, airlines and regional importers across North America and Europe. Terming this as a strategic move marking a significant milestone in his company's evolution, Siddharth Shankar, CEO of Tails Trading Group, said in a statement this week: We welcome this bid and are confident that the business and its social impact are safe, if not in better hands, with the new management. According to the group statement, the investor consortium is led by energy major NetOil and includes companies from the consumer ..

Better nutrition labelling on packaged foods: Are large fonts enough?

Changing consumer behaviour takes a lot more than that

Uflex Ltd Q1 results: Net loss reduces to Rs 98.43 cr, revenue rises 12%

Packaging materials and solution company Uflex Ltd on Monday said its consolidated net loss narrowed to Rs 98.43 crore in the first quarter ended June 2024. The company had posted a net loss of Rs 270.95 crore during the April-June quarter a year ago, according to a regulatory filing from Uflex. Its revenue from operation was up 12.13 per cent to Rs 3,653.75 crore in the June quarter. It was at Rs 3,258.26 crore in the corresponding period of the previous fiscal. Uflex's total expenses increased 9.41 per cent in the June quarter to Rs 3,577.45 crore. Its revenue from 'Flexible Packaging Activities' was up 11.82 per cent to Rs 3,572.11 crore in the June quarter. Uflex's revenue from engineering activities was up 40.41 per cent to Rs 115.13 crore in the June quarter. The total income rose by 12.33 per cent to Rs 3,682.52 crore. Group president and CFO Rajesh Bhatia said: "We had a good first quarter, and are on track for a strong recovery in the global packaging films business bot

SLMG Beverages introduces 100% recycled PET bottles for Coca-Cola

SLMG Beverages, a flagship company of Ladhani Group and a franchise bottler for Coca-Cola in India, on Wednesday introduced 100 per cent recycled PET bottles for the iconic cola brand. The strategic leap not only reflects SLMG's dedication to environmental stewardship but also signifies a pivotal moment in the beverage industry's landscape in India, the company said in a statement. "By significantly limiting its consumption of virgin PET, SLMG Beverages is reducing its carbon footprint, seamlessly aligning with the Indian government's ambitious target of 25 per cent recycled resin by April 2025 PET," it said. The company said it supplies 90 per cent of Coca-Cola bottles in Uttar Pradesh, 100 per cent in Uttarakhand and has presence in Bihar and Madhya Pradesh as well. In Uttar Pradesh it has seven plants with a production capacity of 41 crore bottles a day. It caters to more than 300 million people through its 1.5 million outlets, and a network of more than 1,500 distributors, ...

JK Paper to acquire Manipal Utility Packaging Solutions for Rs 90 crore

JK Paper Ltd on Monday said it will fully acquire Manipal Utility Packaging Solutions Pvt Ltd for nearly Rs 90 crore. The company has entered into a share purchase agreement (SPA) for the acquisition of 100 per cent shares of Manipal Utility Packaging Solutions Pvt Ltd (MUPSPL), JK Paper said in a regulatory filing. Under the SPA, JK Paper will acquire 4.07 crore equity shares representing 100 per cent of capital of MUPSPL at Rs 21.80 per equity share of Rs 10 each, subject to adjustments as per terms of agreement, it added. The acquisition is expected to be completed within six weeks of execution of the SPA with the target entity and its promoters/shareholders, subject to fulfilment of conditions mentioned in the SPA, the company said. JK Paper Vice Chairman and Managing Director Harsh Pati Singhania said, "This acquisition is in line with the long-term strategic objective of the company in the packaging business and gives us an opportunity to offer combined solution to the custom

Distributors seek standardisation, low unit price packages complex: AICPDF

Smaller, lower unit-priced packages introduced by several consumer goods makers to expand their addressable market have placed an extra burden on existing infrastructure and resources within the distribution network, an industry body has said while suggesting standardisation of pack sizes into four main categories. To tackle the issue, the All India Consumer Products Distributors Federation (AICPDF) has suggested the government standardisation of pack sizes and categorizing products into four distinct classes - entry pack, small pack, medium pack, and large pack. Recently, several companies introduced various new SKUs (Stock Keeping Units) with lower unit prices aimed at catering to the rural market, which in turn is creating "price confusion" among the consumer and is posing "inventory management challenges," AICPDF said in a statement. "The difference in per-gram pricing among the numerous SKUs within the same price bracket has become a significant issue, as it often leads to ...

Swiss packaging firm SIG to set up first aseptic carton plant in Ahmedabad

Global packaging solutions provider SIG will set up its first aseptic carton plant in India at Horizon Industrial Parks' facility in Ahmedabad. SIG is partnering with Horizon Industrial Parks to set up its first aseptic carton plant in India, according to a company statement. Horizon Industrial Parks is a logistics platform in India, owned and managed by Blackstone Real Estate funds. The current portfolio comprises 17 industrial and logistics parks spread across more than 1,000 acres and with a development potential of 25 million square feet, which are in eight key markets in India. "Horizon Industrial Parks will develop a build-to-suit facility to support SIG's manufacturing of aseptic carton packs for beverages and food," the statement said. Of the 9,00,000 square feet of production space currently under construction, 8,00,000 square feet will be dedicated to SIG. "By building this plant, we are reaffirming our commitment to this thriving market, where we've seen tremendous dem