Manjushree Packtek has ambitious growth plans following the recent acquisition of JallanPolypack. The company’s managing director, Ankit Kedia, told Packaging South Asia that Manjushree Packtek will invest Rs 50 crore in the business to establish a cutting-edge manufacturing facility in Bengaluru.
The investment drive, set to be completed by June 2024, will propel Manjushree Packtek’s paper cup production to three million cups per day, more than double its current capacity. The company’s vision is backed by state-of-the-art technology, including high-speed machines and a sophisticated flexo printing line, enabling the production of premium ripple cups.
“We have plans to set up a 100,000-square-foot factory in Bangalore. This investment of Rs 50 crore will go towards buying state-of-the-art machinery, developing infrastructure, and building clean rooms. We will serve the hotel, restaurant, and café (Horeca) sector, so a hygienic manufacturing environment is very important,” Kedia said.
Eco-friendly focus and sustainability initiatives
Emphasizing its commitment to sustainability, Manjushree Packtek’s new facility will incorporate a closed-loop system for all natural resources used, rainwater harvesting, and significant reliance on solar energy. Ankit Kedia stated, “We will also repurpose the waste generated during the manufacturing process, ensuring minimal environmental impact.”
The company plans to establish a dedicated research and development center that will focus on developing innovative eco-friendly products, including bio-polymers, water solvent solutions, and designs for paper cups and containers.
Collaborating with a renowned packaging design consulting firm, the company aims to introduce proprietary technologies and explore ways printing technology can enhance the value of paper cups.
“We are working with a reputed packaging design consulting firm to develop a proprietary technology. The initial results have been very encouraging. We are also working on how printing technology can add value to paper cups,” Kedia said.
Targeting beverage brands and collaborating with food delivery platforms
Manjushree Packtek’s expansion strategy is strategically aligned with targeting tea and coffee beverage brands, ranging from large corporations to small-scale enterprises nationwide. The company is also partnering with food delivery platforms, intending to replace plastic bowls with sustainable paper alternatives.
Open to further acquisitions
Expressing openness to further expansion, Kedia stated, “Yes, we are always open to acquisitions if anything attractive comes up,” indicating the company’s readiness to explore new opportunities both within India and internationally.
Manjushree Packtek is a leading manufacturer of sustainable and innovative packaging solutions for various industries. With over four decades of experience in the packaging industry, the company has established itself as a global leader in the rigid plastic packaging space, catering to some of the biggest brands in the world.
In 2018, the company divested its stake in Manjushree Technopack to a global PE major and consolidated its business interests in one flagship entity – Manjushree Ventures.
Capital A – Funding a cleaner future
Ankit Kedia is also an entrepreneur with a vision to not only excel in the world of business but also to do it sustainably. He is the founder of Capital A, a strategic venture capital firm with diversified investments across various clean-tech industries such as EVs, fintech, circular economy, cloud manufacturing, etc.
In the EV sector, Capital A’s vision is to promote sustainable transportation solutions, reduce carbon emissions, and support the electrification of mobility. The company’s investments in circular economy reflect a commitment to sustainable practices, recycling, and minimizing waste while creating economic value.
