Mumbai-headquartered plastic packaging solutions provider Mahika Packaging is planning to double its capacity, the company’s director Sumit Gupta told Packaging South Asia during the Cosmoprof India 2021 show in Mumbai on 16-17 December. At present, the majority of the company’s business comes from the cosmetic industry, although it also supplies tubes to the pharmaceutical industry.
“We would be doubling our tube-making capacity by the early part of the 2022-23 financial year. Once the expansion is complete, we will be making 1.6 crore (16 million) tubes a month for the cosmetic industry,” Gupta says.
Mahika Packaging operates in five verticals, namely, seamless tubes, laminated tubes, labels, bottles, and caps. In the seamless tubes segment, the company manufactures single to five-layer tubes in sizes ranging from 5 ml to 300 ml.
It also manufactures HDPE, LDPE, and PP bottles ranging from 5 ml to 1000 ml. In the caps segment, Mahika Packaging manufactures flip top caps, screw-on caps, bi-color flip top caps, tamper proof caps, and metalized caps.
At the Cosmoprof India show, the company was showcasing all types of tubes that it manufactures. The company has been exhibiting at the Cosmoprof Las Vegas exhibition in the past and took part in the Cosmoprof India show in 2018 when the Indian edition was launched. Having participated in the Cosmoprof India 2019 edition, this is the third appearance for the company at the Indian B2B show for the beauty market.
New plant coming up at Valsad
The company is not only expanding it capacity, it is also in the process of developing a brand-new manufacturing unit in Valsad in Gujarat. At present, Mahika Packaging operates three plants near Mumbai, two in Daman and one in Vapi.
“Once the new plant is ready by 2023, we will consolidate all our operations under one unit. We will move all our machinery from the three plants to the brand new plant in Valsad. Spread over 200,000 square feet, the new manufacturing facility will be green and sustainable. Consolidating all our operations in one plant should help us in controlling overheads and better management of operations,” Gupta says.
Robust growth in cosmetic packaging
With the rise in disposable income in India over the past three decades, the demand for cosmetics and beauty products is growing quickly, which has propelled the demand for cosmetic packaging as well. However, in the last 18 months because of the pandemic the industry has slowed down to an extent. Gupta believes that the cosmetic industry will bounce back sharply as the economic recovery proceeds toward normal levels of consumption and growth.
“I feel that the next financial year would see good growth in the industry. Also, I see many mergers and acquisitions taking place in the coming future. We are also open to acquisitions if the opportunity is right,” Gupta concludes.
The Cosmoprof business-to-business event for the fast-growing beauty market in India is organized by Bologna Fiere, one of the leading international exhibition organizers together with Informa Markets. Apart from Mumbai, the trade show takes place in the major global cities of Las Vegas, Bologna, and Hong Kong.