In the case of Olive Ecopak Private Limited, a Joint Venture of Rajshree Polypack, Ramswaroop Thard, Chairman & Managing Director, Rajshree Polypack Limited says we have already finalized the construction plans and received requested approval while engaging all respective vendors and contractors, we intend to start the construction in the month of September 2022 as soon as the rain recedes and will go into production by October - November 2023.

The total Capex in the project is around Rs. 100 crore and Rs. 40 crore or I think Rs. 50 crore is what is the investment which will be done by both parties equally. So, actually we will use the money raised through preferential issue internal accruals and a bit of debt too for this investment.

Looking at expanding demand, Ramswaroop Thard said, "We are already in process of adding more capacities and in our process of installation of another extrusion machine with installed capacity of 3,500 metric tons per annum, which will take our total sheet extrusion capacity to 18,200 metric tons per annum as against present 14,700 metric tons per annum. Further two more thermoforming machines with installed capacity of 900 metric tons per annum are on their way and are expected to commence commercial production in the month of September 22. This will take our total installed capacity to 8,920 metric tons per annum of thermoforming from present 8,020 metric tons per annum."

"For painting, we have already added one machine with installed capacity of Rs. 6 crore cups per annum and we have placed an order for two more machines with installed capacity of Rs. 20 crore per annum. The two new machines are expected to be operational by February 23 and we'll take our total printing capacity to Rs. 94 crore pieces per annum," commented Thard.

"The company has also entered into an exclusive toll manufacturing agreement for injection molding products for food packaging with a third-party manufacturer and the production for the same is expected to commence in the first week of September 22. This will help the company explore injection molding technology with an initial installed capacity of 1,000 metric ton per annum. The company intends to expand capacities into this segment gradually based on the demand scenario," said Thard.

"Talking about product development, we developed a barrier container for packing of hummus, which is used in the Middle East for a long shelf life. At the same time, we also developed barrier packaging for Indian sweets for one of the largest dairy customers in the southern part of India and barrier packaging for ethnic sweets for one of the largest dairy brands in India. All such developments in barrier segments will further help the company grow at a rapid pace with better profit margins," added Thard.