Yash Pakka Limited, a provider of regenerative packaging solutions for food products, has been listed on the National Stock Exchange (NSE) with a new identity of Pakka Limited. The 42-year-old company says it envisions simplifying its brand identity and unifying its presence across all regions globally with this renaming. The change, the company says, reflects its commitment to its mission of transforming food packaging by providing regenerative solutions that contribute to a cleaner planet.
Chairman Pradeep V Dhobale, vice-chairman Ved Krishna, managing director Jagdeep Hira, director Himanshu Kapoor and chief financial officer Neetika Suryawanshi were present at the NSE listing with customers, investors, and team members.
The company is targeting a revenue of $1 billion (Rs 8,250 crore) by FY30. The key drivers are to service new geographies with compostable packaging solutions, such as flexible packaging and moulded tableware with better net service revenues (NSR) and with new strategic tie-ups for capacity enhancement driving this growth.
Ved Krishna said, “Today, we honor the legacy of determination, innovation, and creative problem-solving by a name change— from now, we will be called Pakka. Pakka is a combination of ‘packaging’ and ‘ka’— which means soul. Packaging with a soul means you get our best effort. While we have distributed globally for 20 years, for the first time we are setting up international production facilities. With this in mind, we need a name that is simple, universal, and relevant. And, of course, the double-K is a subtle nod to my father, KK Jhunjhunwala. As he often modeled: we are led by our convictions. We are grateful to so many of you who have been with us on this ride of building good business by doing good. We will continue to contribute to a cleaner planet.”
Jagdeep Hira said Pakka is listing with a new identity and mission to scale regenerative food packaging. “Pakka has developed a compelling go-to-market strategy encompassing value-added products, new geographies; new strategic tie-ups for enhancing manufacturing capacity. We intend to sustainably scale up our business with a new offering of compostable flexible packaging and our existing successful offering of compostable tableware products under the brand name CHUK. Pakka is looking for outsourcing of molded products to double our capacity and has found partners across India. We will grow the Ayodhya unit to increase pulp production capacity by 30% and provide more value-added products for flexible packaging. Pakka is also working on global research tie-ups for compostable flexible packaging on several biomaterials.”
Pakka’s upcoming facility in Guatemala is expected to be operational by mid-2025 with a production capacity of 400 tonnes per day. The company plans to invest US$250 million to set up the world’s largest compostable flexible packaging and moulded fiber facility, based on bagasse fiber.
Pakka has signed MOUs with Guatemala’s major sugar companies to procure sugarcane, which is the primary raw material used for the company’s products. Pakka is also expanding its capacity in India at its Ayodhya facility under the name Project Jagriti with an investment of ₹550 crore.
The company provides regenerative packaging at scale for Quick Service Restaurants (QSRs), food carry and food services across the world. The company has been developing compostable packaging solutions as alternatives for single use plastic. Chuk is aiming to become the preferred sustainability partner when it comes to food service packaging for large institutions. Large food service operators such as Haldiram’s, Zomato’s Hyperpure, Wow Momos, Chai Point, A2B and Devyani International, are prominent brands that use Chuk products.
Pakka posted an annual revenue of Rs. 419.9 crore in FY23 with the highest FY profit of Rs. 72.3 crore (EBIDTA of 23%) in FY23. It posted the highest exports of 27% of the total volume production as moulded tableware production was up by 24% — almost 50% of its installed capacity as of now.
