At Plastindia 2026, Manjushree Technopack (MTL) outlined its strategic transformation, growth roadmap, and rebranding plans, signalling a shift toward innovation-led, solution-driven packaging. In a conversation with Thimmaiah NP, CEO and managing director, the company spoke about its transformation journey, rapid growth, and the upcoming rebranding to Alternicq – a name that reflects its focus on alternate thinking, innovation and solutions at scale.

“Manjushree is a 40-year-old company that has done very well over a period of time. Today, we are a 100% professionally run organisation and India’s largest rigid plastic packaging company. Our nearest competitor is not even half our size,” Thimmaiah said.

He explained that MTL is the only Indian player present across all rigid plastic packaging segments – beauty, home care, personal care, agrochemicals, nutraceuticals, paints and industrial packaging – while also covering the full product range from containers and preforms to caps, closures, pumps, dispensers and pharmaceutical packaging.

“At the exhibition, our objective is to showcase our overall capabilities,” he said. “We are driving innovation as a key theme of the organization. Our new name, Alternicq, stands for an alternate way of thinking to drive innovation and growth.”

Exponential growth in five years

Reflecting on the company’s journey, Thimmaiah said the last few years have marked a turning point. “We have been in rigid plastic packaging for over four decades, but the last four to five years have been exponential. Today, we are around INR 3,500 crore in revenue. Five years ago, we were about INR 1,200 crore. So we have more than doubled our business across all segments.”

What sets Manjushree apart

According to Thimmaiah, scale is the company’s biggest differentiator. “To drive innovation, attract talent and achieve operational efficiency, you need scale. We are the only company of this scale in India.”

He added that MTL’s all-India footprint – over 30 manufacturing plants across regions – combined with its presence across every major product category gives it a unique advantage. “We cater to almost every global and local consumer brand operating in India.”

Thimmaiah also highlighted governance and ESG credentials as key strengths. “We are independently governed by the board and our ESG quality is world-class. Recently, Standard & Poor’s rated us among the top five rigid plastic packaging companies globally.”

Next phase of growth

Looking ahead, MTL’s growth strategy is anchored on three broad levers. “First, we are expanding our customer reach. Second, we are increasing our share of wallet with strategic customers by offering best-in-class operational and innovative solutions. Third, we are entering new segments such as agrochemicals, nutraceuticals and pharmaceutical packaging.”

He added that pump and dispenser manufacturing is another major focus. “Millions of pumps and dispensers are still imported into India from China. Our first approach is to stop those imports and develop these product lines locally for Indian customers.”

India’s rigid packaging opportunity

On the market outlook, Thimmaiah said India continues to outperform global averages. “The Indian consumer space, including rigid plastic packaging, is growing at around 8% annually – significantly higher than the world average. As living standards rise, demand for packaged products will increase, and that will directly benefit our industry.”

Global compliance and sustainability

Responding to questions about export readiness, he said Indian manufacturers are already operating at world-class standards. “Our pharmaceutical packaging goes to companies whose products are exported to the US. All our pharma factories are US FDA-approved. You walk into our factories and you won’t see any difference compared to facilities in Japan, China or the US.”

Sustainability and recycling are also central to the company’s strategy. “There is a negative connotation about plastic, but plastic is actually better than metal and glass in terms of greenhouse gas emissions. The problem is end-of-life management. In India, 95% of PET is recollected and recycled – we are the best in the world at this.”

He believes upcoming plastic waste management and EPR regulations will accelerate accountability. “These regulations will drive the use of recycled material and strengthen the circular economy.”

Long-term vision: innovation at scale

Summing up the company’s ambition, Thimmaiah said, “We want to be recognized as a company that innovates and provides solutions – breaking down complexity and simplifying it for customers. We aim to be among the best solution providers in the world.”

He concluded by outlining five strategic pillars that will guide the company’s transformation: profitable growth, innovation, leadership, best-in-class operations, digitization and being an employer of choice – supported by core values of customer-centricity, collaboration, performance, agility, and ethics.

“Rigid plastic packaging in India is still highly fragmented. Even as the largest player, we have only about 7% market share. That shows the opportunity for consolidation and transformation – and that’s exactly what we are driving,” he said.

Disclaimer: The new brand name “Alternicq” is pending regulatory approval.