Packaging major Uflex, which started manufacturing non-plastic based alternative innovative packaging solutions to plastic pouches, is eyeing Rs 1,000 crore revenue from this new product by end-this fiscal.
“We expect around Rs 1,000 crore in revenue from this new product by FY-12 and expect it to increase over the years,” Uflex Group President (Finance and Accounts), Mr R K Jain, said here.
The company has already started manufacturing the eco-friendly product and plans to manufacture around 36,000-tonnes per annum to cater to the market demand, which is likely to increase considering the Supreme Court ban on the use of plastic in sachets for storing or selling tobacco, gutka and pan masala.
“We plan to manufacture around 36,000-tonnes per annum to garner an around Rs 1,000-crore revenue by end-this fiscal,” he said.
The packaging major is also targeting Rs 4,800-crore revenue from its entire business in FY-12, as against Rs 3,500-crore revenue in FY-11.
“We are expecting an around Rs 4,800-crore revenue by end this fiscal,” he said. On top of this, the company is eyeing Rs 1,000 crore from its non-plastic based innovative packaging product.