Max Speciality Films investing Rs 60 cr to set up two metalliser lines

Out of this, Max Speciality Films Limited MSFL has already invested Rs 30 crore for installing the first metallizer line, which is expected to be commercialised by March next year and the second will be operational in the third quarter of the next financial year, a statement said.MSFL is a subsidiary of Max Ventures Industries Ltd MaxVIL in which it owns 51 per cent stake and the balance 49 per cent is held by Japanese global printing company Toppan.

Packaging films maker Max Speciality Films on Monday said it is investing Rs 60 crore to install two metallizer lines to meet the increased demand for speciality packaging from packaged food segment. Out of this, Max Speciality Films Limited (MSFL) has already invested Rs 30 crore for installing the first metallizer line, which is expected to be commercialised by March next year and the second will be operational in the third quarter of the next financial year, a statement said.

MSFL is a subsidiary of Max Ventures & Industries Ltd (MaxVIL) in which it owns 51 per cent stake and the balance 49 per cent is held by Japanese global printing company Toppan. Commenting on the development, MaxVIL MD & CEO Sahil Vachani said, ''We have been focusing on increasing the specialty films component in our production-mix which results in better pricing power and improves margins.” These metalliser lines will not increase the overall capacity because the base film remains the same, but it will enhance MSFL’s ability to improve the value-added specialty component in its product category.

“The company is focusing to increase sales of value-added specialty films as it is more profitable. Value-added specialty films volume contribution stood at 42 per cent of total volumes in FY20 as compared to 34 per cent in FY19 and it continues to increase,” it added. Analjit Singh family holds 49.7 per cent in MaxVIL and its other shareholders include New York Life and First State Investments.