Max Ventures & Industries’ (MaxVIL) subsidiary Max Speciality Films (MSFL), which manufactures specialty packaging films, will be investing upto Rs 500 million in a new CPP Line which will have a capacity of 7.2 kilo tpa.
The new CPP Line expansion will be funded entirely through internal accruals. Work on the capital expenditure (capex) will commence in Q2/FY22 and is expected to be commercialised in Q2/FY23.
The demand for the CPP Films has been robust and the expanding the capacity will enable MSFL to cater to the growing market for such films. Apart from the robust demand these films enjoy, the company 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 Q-onQ leading to strong revenue and profitability growth.
This demand is led by the increasing preference of customers for packaged products as hygiene and safety have taken priority during this pandemic.
Prior to this capex, MSFL had announced the commercialisation of the first of its two planned metalliser lines which enhance the speciality product capabilities of MSFL.
