The shares of a prominent FMCG packaging product manufacturer rose by 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.
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 expected to be completed within the next three months, boosting production capacity by around 300 million beverage bottle caps annually.
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 and serves over 1,000 clients across seven states, processing over 10,000 tons of plastics and paper annually.
Technopack Polymers’ revenue saw a 6.7% year-on-year increase, from ₹5.22 crore in Q4FY23 to ₹5.57 crore in Q4FY24. However, net profit decreased by 88% during the same period. In FY24, the company 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%.
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