Manjushree Technopack Ltd Announces Annual Results 2011 - 2012

Online, May 22, 2012 (Newswire.com) - Manjushree Technopack crosses Rs 300 crore mark
Closes FY 2011-12 with a turnover of Rs. 310 crore
Registers a growth of more than 30% in PAT for fifth year in a row

Highlights for the year ending March 31, 2012:

• Net Sales increased by 43% from Rs. 21,618 Lacs in the previous year to Rs. 30,978 Lacs this year.
• PAT (Profit after Tax) rose by 39% from Rs 1,479 Lacs to Rs. 2,050 Lacs
• PAT for the 4th quarter rose by 82% from Rs. 361 Lacs to Rs. 656 lacs
• Exports of PET Preforms doubled over the previous year; further expected to grow by 100% this year.
• Total capacity now stands at 50,000 MTPA, the largest convertor of PET in the country.
• New manufacturing facility in Bangalore expected to be operational by October 2012.
• Sets up 3 MW Wind Power Plant in Belgaum, Karnataka.

Key performance indicators for FY 2011-2012 are as follows (Figures in brackets represent the financial performance in the previous year):

• Turnover of Rs. 30,978 Lacs ( Rs. 21,618 Lacs) - Increase of 43%
• PBT of Rs. 3,033 Lacs (Rs. 2,260 Lacs) - Increase of 34%
• PAT of Rs. 2,050 Lacs (Rs. 1,479 Lacs) - Increase of 39%

Key performance indicators for the fourth quarter are as follows (Figures in brackets represent the financial performance in the same quarter in the previous year):
• Turnover of Rs. 8,759 Lacs (Rs. 6,736 Lacs) - Increase by 30%
• PBT of Rs. 982 Lacs (Rs. 550 Lacs) - Increase by 78%
• PAT of Rs. 656 Lacs (Rs. 361 Lacs) - Increase by 82%

The Board met on Monday, 21st May, 2012 to review and confirm the audited financial results for the year ending 31st March 2012. The basic / diluted EPS stood at Rs. 15.14, a significant increase from previous year's Rs. 10.92. The Board also proposed a 10% dividend for the share holders.

Announcing the results, Mr. 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. It is only a year ago that we crossed Rs. 200 crores. We also witnessed a 100% 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. Our strong focus on innovation has seen us introduce new designs like the short-neck preforms, and we expect significant demand, particularly from the beverages segment, for such designs. We hope to close the next year at over Rs 400 crore."

Some of the leading brands that Manjushree works with include Coca Cola, Pepsi, Bisleri, Cadburys, Unilever, GSK and P&G among many others. This year also had the company adding new clients, like United Spirits Limited and Reckitt Benckiser, Bacardi, Diageo and Big Cola for PET containers and Preforms.

The current capacity of Manjushree Technopack stands at 50,000 MTPA (largest in the country). This is expected to grow to 1,00,000 MTPA by 2015, with the commissioning of new plants in Bangalore, being set up at an investment of Rs. 150 crore. The company also recently set up a 3 MW wind power plant at Belgaum, Karnataka, as part of its plans to gain energy security. While a set amount of the harnessed power will be used internally, Manjushree also plans to distribute the power to the state electricity supply companies. The company further plans to expand its generation capacity to 20 MW in the next 3 yrs. Manjushree also expects to earn carbon credits from this investment.

About Manjushree Technopack Ltd:

Bangalore based plastic packaging major, Manjushree Technopack Ltd., is a public limited company (listed on BSE and NSE), with over 25 years of packaging experience. Involved in the manufacture of specialty plastic packaging products for domestic /export markets, it caters to the needs of leading companies in FMCG, Pharma and Food & Beverages sectors.

Established in 1984, Manjushree has built expertise in all kinds of rigid plastic packaging solutions, including - PET, PP, Multilayer-barrier containers and PET Preforms that utilize European, Japanese and Canadian technologies. In the last year, it has commissioned two more state of the art Husky System for PET Preforms and four ASB blow moulding machines to manufacture PET bottles for the beverage and bottled water industry.

For editorial queries, please contact:

Sukhi Raghunath
+91 9986754074
[email protected]
Aim High Consulting.