India-based PET bottle and preform supplier Manjushree Technopack – an exporter to Africa and the Middle East as well as Thailand – has announced its revenue for the 12 months to 31 March totalled Rs4.38bn ($745m), a 21% year-on-year rise.
Managing director Vimal Kedia said the company sees a bright outlook in its export markets.
“With the ambition of emerging as a leading global packaging major, we have deeply entrenched into international markets like Africa, Thailand and the Middle East,” he said.
“We see a healthy market demand in the beverage and packaged drinking water segments.”
Manjushree has also moved into new segments such as dairy, nutraceuticals and edible oil.
“Our strong focus on providing superior packaging solutions on-time to our customers has enabled us to keep the momentum going,” said Kedia.
The company has recently committed Rs50m to setting up a plastics recycling innovation centre to explore reuse of PET plastic waste.
Containing an R&D centre, an auditorium, a museum, a library and a demo centre, the facility at the firm’s Bidadi factory is due to be complete by March 2015.
Manjushree works with brands including Coca-Cola, Pepsi, Nestle, Cadburys, Unilever, GSK and P&G.