Packaging Sector

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

SIG to invest 100 mn euro on Gujarat plant, expects to be in top 10 markets

Leading packaging solutions provider SIG expects India to be among the top ten markets globally and will invest around 100 million Euro (Rs 878.8 crore) to set up its first plant here, its CEO Samuel Sigrist said on Wednesday. The company, which entered into the Indian market in 2018, has witnessed a "phenomenal growth" here, and expects it to "play a very important role for us going forward", he added. It is quite encouraged by the growth of the beverage industry in India, coupled with factors like the growing economy, income of the people and packed food consumption, he said. When asked whether India would figure in its top 10 markets in mid-terms (around 5 years) Sigrist said: "Easily. Our five-year CAGR for the packaged dairy business is in kind of the high teens, around 15-17 per cent". "We normally outgrow the market. We are the new entrant and the growth opportunity here is amazing. India will, over time, become a very, very sizable market price set. We are super excited,"

Jute mills foresee 30-50% production cuts on back of low procurement plan

The jute industry is concerned over a threat of a 30-50 per cent production cut in three months till November, compared to the same period last year, because of a low demand for packaging material for foodgrains from various states, a senior official said on Tuesday. The Indian Jute Mills Association (IJMA) has appealed to the Centre for a revision in the sixth (revised) supply plan issued by the Food & Public Distribution department. Foodgrain producers have to use jute as a packaging material to a certain extent. "In the current jute season from September to November 2023, the actual demand indent placement is lower by 30-40 per cent. In September alone, demand indents are expected to be lower than 2.5 lakh bales against planned 3.21 lakh bales due to slow order placing by Maharashtra," IJMA Chairman Raghav Gupta told PTI. For the months of October and November, the indents are likely to be about 1.48 lakh bales against over 2 lakh bales as per the August plans, he stated. "But,

Rising demand to help Indian F&B packaging industry to reach $86 bn by 2029

The Indian food and beverage packaging industry that is growing by 14.8 per cent annually is expected to reach USD 86 billion in 2029, following rapid urbanisation, rising disposable incomes and evolving consumption patterns, All India Food Processors Association said on Saturday. "Post-Covid-19, the demand for natural food ingredients has surged. FSSAI's new regulations for nutraceuticals and organic foods are driving growth in the sector. Packaging has evolved from protection to marketing and sustainability. Trends like natural, organic, vegan, and GI-tagged products are reshaping the landscape," All India Food Processors Association, Western Region, chairman Prabodh Halde said in a statement on the last day of the Food Ingredients (Fi India) and ProPak India. The organised packaged ingredients market is valued at about Rs 20,000 crore annually, indicating a shift from loose to packaged products, he stated at the 17th edition of Food Ingredients (Fi India) and the 5th edition of ..

Bikano eyes Rs 200-crore sales through export market, expects 40% growth

Bikano has curated its product lineup by offering numerous nutritious and delectable options that are free from preservatives

Govt mulls changes to MSME prepackaged scheme, more teeth for IBBI

Experts feel that the current voting limit of 66 per cent for initiating the prepack process is a very rigid condition, which has been a deterrent for MSMEs

Packaging industry growing at 17%, can bring district level jobs: Experts

The packaging industry is growing at 15-17 per cent and the sector has the potential to create employment opportunities in the country, industry experts said. The experts also called for the promotion of domestic players and setting up the packaging industry in every district on the lines of the one district one product' initiative to create jobs at the local level. "Presently, the demand for packaging of all things has increased a lot and there is a lot of scope for employment in this sector," Prof Tanveer Alam, Director of the Indian Institute of Packaging (IIP) Delhi, said at the Asian Packaging Congress here on Saturday. The event was organised by the Indian Institute of Packaging (IIP), an autonomous body under the Union Ministry of Commerce and Industry, a release said. The packaging business in the world is worth USD 79 billion and has a growth rate of 15-17 per cent, Alam said. Industry experts opined that to boost the industry, packaging units should be set up in every ..

Swiss packaging solutions provider SIG to invest 60 mn for Ahmedabad plant

Switzerland-based leading packaging solutions provider SIG on Tuesday said it would invest 60 million Euro (approx Rs 525.98 crore) in the next two years to set up its first aseptic carton plant at Ahmedabad, in Gujarat. "SIG will construct its first aseptic carton plant in India, the world's largest milk market, and one of the largest juices-producing countries globally," the company said in a statement. An aseptic carton is a multilayered packaging solution made after combining layers of paperboard, plastic and aluminium and is used for the packing of liquid foods and drinks. Companies such as Tetra and UFlex also operate in the space. Construction of the plant, which will serve leading dairy and non-carbonated soft drink players, will commence in the first quarter of 2023, and the start of commercial production is expected towards the end of 2024. Phase one of construction is expected to create around 300 jobs, it added. "SIG will invest approximately 60 million over the perio