Flexituff Ventures International Ltd Share Price Packaging
₹ 6.51 +0.32 (5.17%)

Flexituff International Ltd manufactures FIBC, Geo-Textile Fabric and Ground Cover, Reverse Printed BOPP Woven Bags, Special PP Bags including Leno Bags. The company manufactures these products at their three manufacturing units located in Pithampur (MP) and Kashipur (Uttarakhand). They have a recycling and reprocessing plant at Kandla which is used for recovering polypropylene and making various compounds of plastics. The company also has a Research and Development centre at Kashipur which is engaged in the research and development of various compounds for plastic products including engineering plastic, bio-degradable plastic and other new product developments. The company is a major exporter of FIBC and woven products from India and have been receiving the Top Exporter Award from the PLEXCONCIL, Ministry of Commerce from 2005-06 to 2008-09 every year. They export to around 30 countries across the globe and are present in 4 continents with major thrust of exports being to USA and Europe. The company has three direct subsidiaries and two step-down subsidiaries. The direct subsidiaries are Flexiglobal Holdings Ltd, Cyprus, Nanofil Technologies Pvt Ltd and Satguru Polyfab Pvt Ltd. Their step-down subsidiaries are Flexiglobal (UK) Ltd and Lakshmi Incorporated. Flexituff International Ltd was originally constituted as a partnership firm on January 22, 1966 under the name and style of Saurabh Potteries & Ceramics with their principal place of business at Indore. Since then, the partnership was reconstituted from time to time by way of admission of new partners or resignation of the then existing partners. With effect from March 1, 1993, the name of the partnership firm was changed to Naviska Packaging and a fresh partnership deed was executed. Thereafter, Naviska Packaging was converted into a private limited company with the name, Naviska Packaging Pvt Ltd on April 8, 1993. Thus, the company was formally incorporated. During the year 1993-94, the company commenced manufacture of HDPE / PP woven sacks. They set up the Domestic Tariff Area (DTA) unit with a capacity of 1,380 MTPA. In June 29, 2001, the company changed their name from Naviska Packaging Pvt Ltd to Giltpac International India Pvt Ltd. Again, they changed their name to Naviska Packaging Pvt Ltd with effect from January 01, 2003. During the year 2002-03, the company expanded the manufacturing capacity at DTA unit to 2,700 MTPA. In April 25, 2003, the company was converted into public limited company and also changed their name to Flexituff International Ltd. During the year 2003-04, they commenced production at Special Economic Zone (SEZ) unit with a capacity of 7,800 MTPA. During the year 2004-05, the company expanded the manufacturing capacity at the DTA unit to 5,200 MTPA. Also, they received BRC certifications for food grade packing. During the year 2005-06, they received AIB certifications for food grade packing. During the year 2007-08, the company expanded the manufacturing capacity to 23,000 MTPA at SEZ and DTA units collectively. They incorporated a wholly owned subsidiary, Eco Polymers Limited in Bangladesh, from which the company disassociated in September 2010. During the year 2008-09, the company incorporated a wholly owned subsidiary Flexiglobal Holdings Ltd in Cyprus to carry on the business of a holding and an investment company. Also, they acquired a majority stake in Satguru Polyfab Pvt Ltd, which is engaged in the business of manufacturing, process, produce etc. or deal in reprocess of plastic waste to use in polypropylene, polyethylene, PVC products, etc. During the year 2009-10, the company established a new plant having production capacity of 16,000 MTPA at Kashipur, Uttarakhand. In October 7, 2009, Flexiglobal Holdings Ltd, Cyprus made investment on Lakshmi Incorporated and thus, Lakshmi Incorporated became a step down subsidiary of the company. In December 1, 2009, the company's subsidiary, Flexiglobal Holdings Ltd, Cyprus acquired 100% holding in Flexiglobal (UK) Ltd and thus Flexiglobal UK became a step down subsidiary of the company. In December 15, 2009, the company incorporated wholly owned subsidiary Nanofil Technologies Pvt Ltd in Kashipur, Uttarakhand, which is engaged in the business of carrying on research and development by using various technologies namely Nanotechnology, Chemical technology, Biochemical Technology & Polymer Technology to use in polypropylene, polyethylene, PVC products, etc. The company is in the process of expanding the manufacturing facilities at SEZ and DTA units at Pithampur. Also, they are in the process of setting up of Dripper Project at Kashipur.