Home/Unlisted Shares/Manjushree Technopack Limited Unlisted Shares
Manjushree Technopack Limited Unlisted Shares

Manjushree Technopack Limited Unlisted Shares

Industry packagingSector packagingDepository NSDL, CDSL
52W High
₹987.00
52W Low
₹966.00
1Y Return
+2.2%
Overview

About The Company

We are the largest rigid plastic packaging (“RPP”) player in terms of installed capacity in India as of March 31, 2024, operating in the consumer rigid plastics industry, according to the Technopak Report. We are a one stop solution provider of rigid plastic packaging solutions with end-to-end packaging solutions (i.e., from design to delivery) across containers, preforms, caps and closures, pumps and dispensers and captive recycling capabilities in a wide range of industries including food and beverages, home care, personal care, liquor and spirits, paints and adhesives, pharmaceuticals, nutraceuticals, dairy, automotive and agrochemicals

Strong

Market Position

Consistent

YoY Growth

Experienced

Management

Fundamentals

Key Indicators

A snapshot of Manjushree Technopack Limited Unlisted Shares's financial health, valuation multiples and capital efficiency at a glance.

Current Share Price₹987.00
Face Value / Share₹2.00
Book Value / Share₹164.00
Price to Earning (PE)27.10
Price / Sales3.30
Price / Book6.00
Outstanding Shares8.60Cr
Market Cap₹8,468.00Cr
Debt / Equity1.30
Dividend / Share₹0.00
Dividend %0.00%
Return on Total Assets2%
Return on Equity5%
Working Capital Return16%
Performance

Pricing Trends

6-Month Movement
987.00 +0.00 (+0.00%)
Financials

Financial Performance

Indicators202520242023
Revenue2,584.02,130.32,109.1
Expense2,172.61,743.71,803.4
EBITDA411.4386.6305.7
Other Cost321.6225.8214.6
PBT89.8160.991.1
Tax Expense19.120.131.9
PAT70.7140.859.2
Other Inc./Exp.-0.3-1.0-0.6
Net Income71.0141.859.9
Shares O/S8.581.351.35
EPS (₹)36.48103.9243.72
Rev. Growth %21.3%1.0%
EBITDA Mgn %15.9%18.1%14.5%
Net Mgn %2.7%6.7%2.8%
EPS Growth-64.9%137.7%
Corporate

Registered Address

#
ISIN
INE435H01023
§
PAN
AAACM9418K
Address
Manjushree Technopack Limited, MBH Tech Park, 2nd Floor, Survey No. 46(P) and 47 (P), Begur Hobli, Electronic City Phase-II, Bangalore 560100, Karnataka, India.
RTA
N/A
Leadership

Management Team

NK
Nikhil Kumar Srivastava
Chaiman
TN
Thimmaiah Napanda P
Managing Director & Chief Executive Officer
AV
Aswin Vikram
Director
SM
Sumit Mohan Natgir
Director
KV
Kamlesh Vikamsey
Independent Director
Reports

Download Financial Results

📄Annual Report 2023
📅Select Year

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Manjushree Technopack is currently an unlisted company acquired by equity firm PAG. It was earlier listed, but its equity shares were voluntarily delisted from BSE and NSE with effect from March 24, 2015.

Manjushree Technopack Limited Unlisted Shares Unlisted Shares

Manjushree Technopack Limited (MTL) is one of those silent backbones of FMCG packaging companies that quietly powers India’s everyday consumption. From shampoo bottles and Bisleri water bottles to pharma containers and liquor packaging, chances are high MTL has touched your life somewhere in the packaging chain.

Investors tracking Manjushree Technopack Limited unlisted shares today are closely watching the company because it’s a category leader in rigid plastic packaging (RPP) and benefits directly from India’s consumption growth.

As per the Technopak report (March 31, 2024), MTL is the largest player in India by installed capacity. It operates as a one-stop packaging solution provider, offering everything from PET bottles & jars, preforms, caps & closures, pumps & dispensers and shrink films to recycled plastic materials (PCR resin) through captive recycling.

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According to yourstory, the company’s roots go back to an inspiring entrepreneurial story. Founder Vimal Kedia started with an umbrella business in Assam with just Rs.10,000 and later spotted an opportunity when plastic pouches began replacing traditional tea packaging. 

That shift led to plastic pouch trading (1983), then manufacturing and finally the big leap into PET packaging in Bangalore.

A major turning point came during the cola wars (Pepsi vs Coke), where MTL won business from both sides and the company scaled rapidly.

Today MTL serves giants like ITC, Pepsi, Coca Cola, Britannia, P&G, Cadbury, GSK, Bisleri, Tata, Sun Pharma and more.

What makes MTL’s business model powerful?

MTL operates in a sector that grows automatically with consumption. As India spends more on FMCG, pharma, beverages, personal care, dairy and liquor, packaging demand rises naturally, and so does the company’s product demand, it grows with daily life.

MTL is also an end to end packaging partner, supporting brands from design and innovation to mould making, manufacturing and delivery, which makes life easier for clients who don’t want to deal with multiple vendors. 

It serves multiple industries, food & beverages, personal care, home care, pharma, dairy, liquor, agrochemicals, paints and bulk packaging, so growth isn’t dependent on one segment.

The company’s multi technology platform is another advantage (ISBM, injection moulding, extrusion blow moulding, compression moulding, IML and barrier co-extrusion).

 Additionally, its pan India footprint across 12 states and 2 UTs with 25 manufacturing plants will give it scale, speed, and delivery reliability. And because packaging suppliers are hard to replace due to quality approvals and compliance, MTL enjoys long term clients, which supports stable long term revenues.

Manjushree Technopark Limited Unlisted Shares Financial Analysis

Particulars (in Rs. Cr.)

2025

2024

2023

Revenue

2,584.00

2,130.30

2,109.10

EBITDA

411.4

386.6

305.7

EBITDA Margin

15.90%

18.10%

14.50%

Profit After Tax

70.7

140.8

59.2

Net Margin

2.70%

6.70%

2.80%

EPS

36.48

103.92

43.72

If we look at the financials, Manjushree Technopack clearly appears to be in expansion mode. The company’s revenue has grown steadily from Rs.2,109 Cr in FY23 to Rs.2,584 Cr in FY25, with FY25 posting a strong 21% growth, which reflects rising demand and scaling up in operations.

On the operating side, performance continues to remain stable. EBITDA improved to Rs.411 Cr in FY25 and margins have stayed fairly healthy in the 15 to 18% range over the last three years, showing that the core business still has strong operating strength.

That said, profitability has been a bit volatile. PAT fell sharply from Rs.140.8 Cr in FY24 to Rs.71 Cr in FY25, which pulled down the net margin to 2.7%. This suggests the company faced higher costs, possible integration expenses due to acquisitions or a rising finance burden as it invests heavily for growth.

The same trend is visible in EPS (Earnings Per Share), which indicates how much profit the company earns per share. EPS jumped to Rs.103.92 in FY24 and then declined to Rs.36.48 in FY25. This drop is mainly because FY25 profits reduced while the outstanding share base also changed.

Overall, MTL is scaling strongly and investing for the future, but investors should closely track margin stability and debt levels as the company continues its growth journey. The current P/E levels and EPS affect Manjushree technopack limited unlisted shares price.

Manjushree Technopack Limited Unlisted Shares Price Analysis

Uploaded image

If we look at the charts, Manjushree Technopack Limited unlisted shares price has shown a steady upward movement, reflecting rising investor interest.

Based on recent trend points, the stock was around Rs.825 (Jan 2025), rose to Rs.990 (July 2025), stayed near Rs.970 (Nov 2025) and touched Rs.1,000 (Dec 2025). This price strength reflects how the market views MTL as a long term player in India’s consumption driven packaging demand, especially as the company expands scale and strengthens leadership.

MTL also had key shareholder actions like a 5:1 stock split (July 2024) and a rights issue (June 2024).

Another confidence booster is its dividend record, including interim dividends like Rs. 11.5 (FY23), Rs. 31.1 and Rs. 34 (FY24) and a high Rs. 53.5 interim dividend (May FY24). This shows the business generates cash even while investing heavily in growth.

From a valuation perspective, MTL trades at a premium (around Rs. 8,540 Cr market cap, P/E 27.3, P/B 6.1) and that premium exists because investors see it as a category leader with long term clients and national manufacturing strength.

Still, investors should keep an eye on comfort factors like debt to equity of 1.3 and margin volatility, as these can influence valuation levels going forward.

Manjushree Technopack Ltd latest news (projects & initiatives)

Here’s a quick summary of Manjushree Technopack Ltd latest news and key initiatives

  • Innovation Centre “MTL AVINYA” (Bidadi, Karnataka): Set up to drive packaging innovation, new product development and next gen solutions for clients.

  • Sustainability & ESG roadmap: Conducts biennial materiality assessment as per GRI 2021 standards using a double materiality approach to align ESG focus with business strategy.

  • Renewable energy adoption: In FY24, nearly 46% of operational energy came from renewables, driven by a sharp increase in solar usage (both in house and purchased).

  • Carbon footprint reduction: From FY21 to FY24, MTL reduced Scope 1 emissions by 20.09%, Scope 2 by 79.7% and overall emission intensity by 45.14%.

  • Recycled materials and EPR compliance: Purchased 4,099.19 MT of recycled material for production under Extended Producer Responsibility norms.

  • Net zero commitment: pledged to achieve net zero emissions aligned with SBTi targets and planned to publish a CDP report in FY25.

  • ESG benchmarking: Applied for an EcoVadis rating to independently benchmark sustainability performance.

  • Employee development: Invested Rs. 9,804 per employee (53% increase vs FY23) and ensured 100% performance reviews for eligible employees.

  • Stronger governance: Maintained 33.3% female board representation, 50% independent directors and 100% employee training in the Code of Conduct aligned with UNGC principles.

  • Industry collaboration with IISc: Signed MoU under which IISc will set up a Centre of Excellence for upcycling and recycling thermoplastics, developing waste to packaging solutions, recyclable materials for pumps/triggers and stronger PET bottle caps.

Why buy Manjushree Technopack Limited unlisted shares?

Unlisted investing isn’t about chasing “cheap” stocks. It’s about finding businesses that can quietly compound over time. Manjushree Technopack (MTL) fits that mould. 

As India’s leading rigid plastic packaging industry, it benefits directly from rising consumption in FMCG, pharma, beverages and personal care, where packaging demand grows automatically. Its clients are long term  because packaging vendors are hard to replace due to approvals and supply reliability.

Its growth is further strengthened by expansion and acquisitions (like Varahi and Pearl Polymers' B2B business), while its ESG and recycling focus adds future readiness as sustainability becomes a key industry trend.

Backing from private equity giants Advent and PAG adds credibility, though investors should watch leverage, margin swings and unlisted liquidity risks.

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