The shares of one of the leading FMCG packaging product manufacturers surged 13%, reaching an intraday high of ₹71.80 per share, following the company’s announcement to expand its production capacity of bottle caps.
At 10:30 a.m., Technopack Polymers Ltd shares were trading at ₹65.75 per share, up 3.5% from the previous close price on the stock exchange. The company has a market capitalization of ₹35.5 crores.
What News: According to Technopack Polymers exchange filing, the company plans to expand its production capacity by adding an additional SACMI production line specifically for short-neck caps.
The new production line is set to be completed within the next three months, and once it is operational, it will boost production capacity by around 300 million beverage bottle caps annually.
About the company: Technopack Polymers Limited manufactures high-quality PET preforms using a 48-cavity Milacron Machine and ACME Mould under the “TECHNOPET” brand name.
The company also produces high-quality CCM CAPs. Technopack is a leading manufacturer and supplier of paper and plastic products for FMCG packaging, serving over 1,000 clients across seven states and processing over 10,000 tons of plastics and paper annually.
Technopack Polymers Limited’s product portfolio includes PET preforms, which are used by customer companies in the packaged drinking water and carbonated soft drink industries, and cap closures made from HDPE plastic granules.
Financials: Technopack Polymers’ revenue increased by 6.7 percent year-on-year, from ₹5.22 crore in Q4FY23 to ₹5.57 crore in Q4FY24. However, during the same period, net profit decreased by 88 percent, from ₹1.17 crore to ₹0.13 crore.
In FY24, Technopack Polymers reported a return on equity (ROE) of 6.19% and a return on capital employed (ROCE) of 8.95%. The company’s shares have declined by 8% over the past month and by 21% over the past 12 months.
As of the March quarter, the promoter holds a 73.52% stake in the company, while retail investors hold 26.47%.
Written by Omkar Chitnis
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