- Max Speciality Films Limited (MSFL) to expand its capacity with a new CPP (Cast Polypropylene) Line at a total capex upto Rs. 500 Mn entirely to be funded through internal accruals
- This new CPP Line will have a capacity of 7.2 KTPA of CPP
- Work on this new line will commence in Q2FY22 and expected to be commercialized in Q2FY23
New Delhi, 15th May 2021: Max Ventures & Industries Limited’s (MaxVIL) subsidiary Max Speciality Films Limited (MSFL), which manufactures specialty packaging films will be investing upto Rs. 500 Mn in a new CPP Line which will have a capacity of 7.2 KTPA (Kilo Tonnes Per Annum).
The new CPP Line expansion will be funded entirely through internal accruals. Work on the capex will commence in Q2FY22 and is expected to be commercialized in Q2FY23. Demand for the CPP Films has been robust and expanding the capacity will enable MSFL to cater to the growing market for such films. Apart from robust demand these films enjoy, they will also further enhance the sustainability factor of MSFL as these films are easier to recycle.
From the onset of FY21, MSFL has witnessed robust demand for its packaging films which have continued to improve quarter on quarter leading to strong revenue and profitability growth. This demand is led by increasing preference of customers for packaged products as hygiene and safety has taken over priority during this pandemic.
Prior to this capex, MSFL had announced the commercialization of first of its two planned metallizer lines which enhances the speciality product capabilities of MSFL. With the expansion of this new CPP line combined with the increasing speciality product capabilities, MSFL is well placed to capture the new growth opportunities enhancing the scale of the business and at the same time sustainably improve its profitability through better product mix.
About Max Ventures & Industries Limited (MaxVIL):
Max Ventures & Industries Limited (MaxVIL), a part of the leading Indian multi-business conglomerate Max Group, owns and operates a real estate business through its 100% subsidiary, Max Estates, and a packaging films business through Max Speciality Films, a 51:49 strategic partnership with Toppan, Japan. MaxVIL also has a real estate services & management company – Max Asset Services and an investment subsidiary, Max I., which supports real estate entrepreneurial ventures. MaxVIL is listed on NSE and BSE.
Max Estates Limited
Established in 2016, Max Estates Limited is the real estate arm of the Max Group and a wholly owned subsidiary of MaxVIL. Its vision is to bring the Group’s values of Excellence, Credibility and Sevabhav to the Indian real estate sector. Its marquee projects include a one-of-its-kind commercial office space Max Towers, on the edge of South Delhi that opened its doors in 2019, Max House – a re-development of office campus and 222 Rajpur, a luxury residential villa community on Rajpur Road, Dehradun. It aims to create, build and operate Grade A+ office spaces in Delhi-NCR. The company recently entered in a JV with New York Life Insurance Company (NYL) for its 3rd commercial project in Delhi-NCR named Max Square.
Max Speciality Films Limited
Max Speciality Films, a subsidiary of MaxVIL, is an innovation leader in the Speciality Packaging Films business. It has a strategic partnership with Japan’s Toppan Printing Co. Ltd., a leading global printing company. Max Speciality Films is among the leading manufacturers of Biaxially Oriented Polypropylene (BOPP) films including specialty packaging, labels, coating and thermal lamination films for the India and overseas markets, with a total capacity of 72 Kilo Tonnes Per Annum (KTPA).
Max I. Limited
Max I. focuses on synergistic investment opportunities with real estate businesses through “Maxcelerate”, an ecosystem for real estate technology start-ups. The key objective of Max I. is to find and nurture companies synergistic to the real estate business of the Max group through deeper and patient engagement.
Max Asset Services Limited (MAS)
MAS focuses on providing services such as building operations management, as well as managed offices for enterprises. MAS leverages various technological tools such as mobile app, video analytics, visitor management etc. which help in managing costs while delivering superior customer experience.
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Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.
Source: Company Press Release