Geojit Financial Services, Knack Packaging Ltd
Knack Packaging Ltd., incorporated in 2013, is an integrated packaging solutions provider engaged in the manufacturing of Printed and Laminated Woven Polypropylene (PLWPP) bags, including pinch bottom, gusset, block bottom, and retail variants. Its products cater to diverse industries such as food, agriculture, fertilizers, cement, and chemicals. The company offers in-house printing and design capabilities, supporting customization and brand visibility. As of FY2025, it held an estimated 10% share of the Indian flexible bulk PLWPP bag market and served customers across 68 countries. With over 73,000 printing cylinders, 13,379 SKUs, and established warehousing infrastructure, it has developed a diversified customer base and consistent production capabilities. The Indian flexible plastic packaging market grew ~5% CAGR from FY23 to FY25, reaching ₹2,053bn, driven by the rise in FMCG consumption, ecommerce, and changing consumer lifestyles. (Source: Technopak Analysis).
Valuation and Outlook
The company’s integrated operations, expanding capacity, and increasing share of value-added products further strengthen its growth visibility. Considering its solid financial performance, healthy return ratios, and favorable long-term prospects, we recommend a “Subscribe” rating for investors with a medium- to long-term investment horizon.
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Knack Packaging - 010726 - geo