Mold-Tek Expands Operations with New Plants in Tamil Nadu, Telangana, and Haryana

Mold-Tek Packaging Ltd (MTPL), a leading provider of rigid plastic packaging solutions, has marked the inauguration of three state-of-the-art manufacturing plants located in Panipat (Haryana), Cheyyar (Tamil Nadu), and Sultanpur (Telangana) in the first week of this year.

The company has invested over ₹100 crore in these advanced facilities, strategically positioned to bolster its production capacity to 5,500 tonnes per year. This expansion contributes to a substantial increase, bringing the total annual capacity to 54,000 tonnes during the financial year 2024-25.

J Laxman Rao, Chairman and Managing Director of MTPL, shared insights, stating, "While the Panipat facility was inaugurated on January 3, the plants in Tamil Nadu and Telangana were inaugurated on January 6." The new plants signify a significant milestone in the company's commitment to providing innovative packaging solutions.

MTPL specializes in the production of injection mold packaging material, catering to a high-end packaging space with an estimated market size of ₹18,000-20,000 crore, with approximately one-third of the market share dedicated to the pharmaceutical sector.

Rao also announced the acquisition of a land parcel in Mahad, Maharashtra, for the establishment of another manufacturing plant focused on pail supplies to Grasim Industries, an Aditya Birla Group company. This new facility is projected to have a production capacity of 1,500 tonnes per year, with an investment of ₹20 crore by October 2024.

All the newly inaugurated units are poised to commence commercial production in the coming weeks, serving Grasim Industries. The Panipat and Cheyyar plants will also support the production of food, FMCG, and square packs.

Highlighting the growth potential in the pharma packaging segment, Rao stated, "The pharma packaging segment is growing at 7-8 per cent annually with a market potential of more than ₹6,000 crore. The initial response to our products from the Pharma Industry is very encouraging, and Mold-Tek expects pharma packaging will start contributing from Q1 of 2024-25. Food and FMCG will grow with new clients in Northern India." Mold-Tek Packaging aims to play a pivotal role in meeting the evolving packaging needs of various industries with its expanded capabilities.

HBL