Three M Paper Boards Ltd., which is into the business of manufacturing recycled paper-based products, said it is planning to expand capacity by 25% to cater to the growing demand of its products from domestic and international markets. Currently, the company has an installed capacity of 72,000 tonnes per annum (TPA), which would be enhanced, a top company executive said.
“We are planning to increase capacity by 25% in two years, which will be met through available funds and internal accruals. There is huge demand for recycled products from India and abroad,” MD Rushabh H. Shah said in an interview.
The company recently raised up to ₹40 crore through its SME IPO and is listed on the BSE. The Coated Duplex Boards produced by the company are made from 100% recycled wastepaper imported from the U.S. and Europe and are fully biodegradable, making them an eco-friendly choice for packaging various FMCG and pharmaceutical goods, Mr. Shah said. The company’s recycled paper-based Duplex Board products range from 200 to 500 GSM and are used in various packaging applications across industries such as food and beverage, pharmaceuticals, cosmetics, and consumer goods. The company supplies its products in both domestic and international markets.
Mr. Shah said that the Indian paper and packaging industry was experiencing robust growth, poised for significant expansion in the coming years. “This remarkable growth is attributed to several factors, including the flourishing e-commerce, food processing, pharmaceuticals, FMCG, manufacturing, and healthcare sectors,” he added.
