Packed With Ambitions!

Manjushree Technopack Limited has set an ambitious goal of tripling its revenue in the next four years. This growth will be achieved through both organic and inorganic routes, says Sanjay Kapote, its CEO.

- Niranjan Mudholkar

In October 2018, Advent International acquired a 77 percent stake in Manjushree Technopack Ltd. How has this acquisition impacted the growth strategy of Manjushree?

Post Advent acquiring a majority stake in MTL (Manjushree Technopack Limited), we have developed a strategic roadmap to further unlock MTL’s potential and leverage our market-leading position for accelerated growth in India. We have set ourselves an ambitious goal of tripling our revenue in the next four years. This growth will be achieved through both organic and inorganic routes.

Tell us something about your business plans through inorganic growth.

Our inorganic growth plans will be focused on consolidating the rigid packaging market and entering into new segments while also acquiring allied businesses such as closures and dispensers manufacturing firms. The rigid plastic packaging industry in India is estimated to be at two million tonnes per annum. MTL addresses only 60 percent of the market today with about 10 percent market share. We have significant headroom available both through organic expansion and via mergers and acquisitions. We are looking at three to four acquisitions in the next four years.

How’s been the ongoing fiscal for Manjushree Technopack in terms of business performance? How would you compare that with the previous fiscal?

In H1FY20, we are tracking our budget and volume has seen double-digit growth. Our revenues are linked with the raw material prices i.e. PET, PP, and PE. These have softened in this fiscal year compared to last fiscal.

What is the estimated size of the rigid plastic packaging market in India and what kind of market share does Manjushree have?