Three M Paper Boards Ltd., which is into the enterprise of producing recycled paper-based merchandise, mentioned it’s planning to increase capability by 25% to cater to the rising demand of its merchandise from home and worldwide markets. Presently, the corporate has an put in capability of 72,000 tonnes each year (TPA), which might be enhanced, a high firm govt mentioned.
“We’re planning to extend capability by 25% in two years, which will probably be met by way of obtainable funds and inner accruals. There’s large demand for recycled merchandise from India and overseas,” MD Rushabh H. Shah mentioned in an interview.
The corporate just lately raised as much as ₹40 crore by way of its SME IPO and is listed on the BSE. The Coated Duplex Boards produced by the corporate are made out of 100% recycled wastepaper imported from the U.S. and Europe and are absolutely biodegradable, making them an eco-friendly selection for packaging numerous FMCG and pharmaceutical items, Mr. Shah mentioned. The corporate’s recycled paper-based Duplex Board merchandise vary from 200 to 500 GSM and are utilized in numerous packaging purposes throughout industries resembling meals and beverage, prescribed drugs, cosmetics, and client items. The corporate provides its merchandise in each home and worldwide markets.
Mr. Shah mentioned that the Indian paper and packaging trade was experiencing strong development, poised for vital enlargement within the coming years. “This outstanding development is attributed to a number of elements, together with the flourishing e-commerce, meals processing, prescribed drugs, FMCG, manufacturing, and healthcare sectors,” he added.
