Knack Packaging

Knack Packaging received a new order and a three-year contract renewal from a large United States animal nutrition and feed corporation for printed laminated woven polypropylene and pinch-bottom bags. The agreement covered about 60 million bags a year valued at about Rs 150 crore annually and ran till December 2028. The company operated more than 48,000 tonnes a year of installed capacity at about 91% utilisation and was building an expansion to about 70,000 tonnes for commercial production in October 2027. It served more than 2,000 customers across 74 countries, with exports at about 56% of revenue in the year to March and the United States at about 27%. Consolidated revenue was about Rs 823 crore in the year to March, with first-quarter revenue of about Rs 262.5 crore.

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Oct 2 (Reuters) - Knack Packaging Ltd KNAC.NS:

• KNACK PACKAGING - RECEIVES NEW ORDER AND CONTRACT RENEWAL FOR THREE YEARS

• KNACK PACKAGING - ORDER VALUED AT ABOUT 1.50 BILLION RUPEES PER ANNUM

Source text: ID:nBSEWmwPr

Further company coverage: KNAC.NS

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** Shares of Knack Packaging KNAC.NS rise as much as 6.6% to 222 rupees, their highest level since listing on July 8; stock last up 3.7%

** Packaging solutions provider reports 48% y/y surge in June-quarter consol net PAT to 305.3 million rupees ($3.20 million)

** Consol revenue from operations jumps 40.9% Y/Y

** Stock up 18.1% since listing

($1 = 95.2600 Indian rupees)

(Reporting by Payel Das in Bengaluru)

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