Bangalore-based packaging major, Manjushree Technopack Ltd, today said it has decided to invest Rs 150 crore in two new facilities at Bidadi and Harohalli industrial areas in Bangalore to increase the capacity.

“We have committed investments of Rs 150 crore for two new facilities at Bidadi and Harohalli to increase the capacity of PET preforms by 50,000 MTPA by the end of 2012,” Managing Director, Mr Vimal Kedia, said.

The project will be financed through Rs 92-crore debt from State Bank of India and the remaining Rs 58 crore will be raised through internal accruals.

After expansion, the company’s PET preforms manufacturing capacity will go up to 6 MTPA and PET bottles to 2 MTPA. The company makes speciality plastic packaging products. It the largest supplier of PET bottles to beverages major Coca Cola, Pepsi and Bisleri, Mr Kedia said.

Manjushree Technopack registered net sales of Rs 70.81 crore in the quarter ended December 2011 compared with Rs 49.40 crore in the same period last year. Profit-after-tax (PAT) for the third quarter ended December 2011 stood at Rs 2.55 crore. The company has provided for an exchange risk, amounting to Rs 5.96 crore during the quarter, on account of which the profit has witnessed an impact.

“We expect to close FY 12 with a turnover of Rs 300 crore compared with Rs 215 crore in FY 11. We will continue to tap the huge opportunities presented by the FMCG sector, particularly beverages. Pharma and liquor will be the other fast growing segments for us,” he said.

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