Piramal Glass

Piramal Glass
Public
Traded as NSE: PIRGLASS, BSE: 532949
(BSE SENSEX Constituent)
Industry Containers & Packaging
Founded 1984
Headquarters Mumbai, Maharashtra, India[1]
Area served
 Worldwide
Key people
 Ajay Piramal
(Chairman)
Vijay Shah
(Managing Director)
Products Cosmetics and Perfumery, Pharmaceuticals, Specialty Food and Bevarages, Decorations
Parent Piramal Group
Website glass.piramal.com

Piramal Glass Limited (NSE: PIRGLASS, BSE: 532949) (formerly known as Gujarat Glass Pvt Ltd) is an Indian glass packaging company providing packaging for Pharmaceutical and Perfume Industry. Prior to acquisition in 1984 by Piramal Group, the company located its manufacturing plant in Kosamba, Gujarat. In 1990 Gujarat Glass Pvt Ltd merged with its parent company Nicholas Piramal India Ltd to become one of its many divisions.[2]

Piramal Glass flogs glass packaging for the pharmaceuticals, foods & beverages (F&B) and cosmetics & perfumery (C&P) industries, services, listed at both Bombay Stock Exchange (BSE: 532949) and National Stock Exchange (NSE: PIRGLASS). [3]

Piramal Glass offers full bottle design capabilities, in-house mould design, CNC machines for mould manufacturing, glass manufacturing and dedicated ancillaries for decoration and accessories like caps, cartons and brushes. [4]

Cosmetic & Perfumery (C&P)

Piramal Glass is the second largest manufacturer of flacconage glass for the cosmetic and perfumery (C&P) businesses with a capacity of 545 TPD. It currently has ~ 6% of the USD 2.3 bn global market share. The segment caters to customers across 44 countries including L’Oreal, Yves Rocher, LVMH, Coty, Bogart, Elizabeth Arden, Estee Lauder. C&P as a business segment contributed 51% of the consolidated sales in FY2012.

C&P business is further segmented as Color Cosmetics, Low Mass Perfumes, MNC Mass Perfumes, Select Perfumes. Within the Color cosmetics (Nail Polish) segment, Piramal Glass claims to be the world leader with a 50% market share. The Premium business of C&P, which includes the Select and MNC Mass segment, is the prime focus of Piramal Glass’s growth strategy. Piramal Glass claims to be the fastest growing player in C&P business with a CAGR of 18.4% over the last 5 years.

Pharmaceutical

Piramal Glass has a 35% share of India’s USD 111 million market opportunity with a client roster that includes Cipla, PHL, Abbott, Pfizer, GlaxoSmithKline, Alembic, Merck, Ranbaxy, Strides Arcolab, Hospira amongst others.

This segment contributed 23% of the consolidated sales in FY2012. The Amber and Flint bottles and vials for liquid oral formulations, injectables etc. produced conform to the US, Indian and European pharmacopeia in Type I, Type II and Type III Glass.

Specialty Food and Beverage

The Specialty Food and Beverage segment provides bottles for wine, liquor and food industry. This segment is primarily catered by the Sri Lanka and US operations serving global industry bigwigs such as Cadbury Schweppes, Diageo, Pernod Ricard, UB Group etc. [5]

Geographical Spread

Piramal Glass has a large geographic footprint, with a sales and distribution presence in major markets across the globe.

Manufacturing Facility

Piramal Glass has its manufacturing facilities in India (Kosamba and Jambusar), Sri Lanka and the United States. The Kosamba facility has six furnaces – one for Pharma and five for C&P -- with a combined capacity of 330 TPD. The Jambusar facility is one of the world's largest installed capacities for pharmaceutical packaging in amber glass. It has 3 furnaces with a combined capacity of 520 TPD. [6]

In 2005, Piramal Glass acquired the Flint Glass plant and Decoration operations of the Glass Group Inc in the US (formerly Wheaton Glass). The US glass plant in Missouri has two furnaces with a combined capacity of 195 TPD for F&B and C&P products. The Decoration unit is located in the state of New Jersey

In Sri Lanka, Piramal Glass has 1 furnace in Horana with a capacity of 250 TPD for producing both flint and amber bottles.[7]

Piramal Glass is a solutions player in the flacconage business. The company has several trusted partnerships. These partnerships include:

• An ancillary (ANSA), with facilities for printing, etching, colouring, coating and stamp foiling • A decoration facility in Williamstown in the US for PVC coating •An ancillary for the supply of caps, cartons and brushes

During the last year, Piramal Glass got recognition, with the Kosamba plant getting the Frost & Sullivan Gold Certificate Award for Business Excellence and the Jambusar plant getting the Golden Peacock Award for Quality. [8]

Now a part of Piramal Group, headed by Ajay Piramal, Piramal Glass won the "Award for the Best HR Strategy in Line with Business" at the 2nd Best Employer Brand Awards 2011. The awards were hosted by Employer Branding Institute-India and World HRD Congress held in Singapore.[9]

In its quarterly report in Q4FY2008, Piramal Glass recorded Consolidated Revenues growth by 21.8% to Rs. 2.3 billion, Operating Profit growth of 41.6% to Rs. 399.5 million; and Net Loss was recorded down by 54.6% to Rs. 71.9 million.[10]

During June 2010, a sales turnover of Rs 169.08 crore and a net profit of Rs 9.09 crore was recorded.[11] Following quarter(Sept 2010), Piramal Glass announced a sales turnover of Rs 196.22 crore and a net profit of Rs 18.00 crore.[12]

In February 2011, Piramal Glass stated that they would be investing Rs.100 crore on capacity expansion at its Jambusar unit in Gujarat through a greenfield project. The project was deemed to be completed by 2011-12.[13][14] Furthermore, the company proposed to transfer 75 tonnes of its current capacity in the pharmaceutical segment to the C&P business. It also stated its plans to streamline its global operations in the countries like USA and Sri Lanka.[15]

In October 2013, PGC won its fourth consecutive Gold award in the Large Industry segment in the Ceramic sector at the 21st Annual NCE awards ceremony. The National Chamber of Exporters (NCE) of Sri Lanka held its 21st Annual NCE Export Awards Ceremony recently.[16]

References

  1. ↑ "Contact Information of Piramal Glass: the Leading Glass Manufacturer India". Piramal Glass. Retrieved 2013-01-10.
  2. ↑ Glass, Piramal. "History".
  3. ↑
  4. ↑ Glass, Piramal. "History".
  5. ↑ Glass, Piramal. "History".
  6. ↑ "Piramal Glass Ltd". Economic Times.
  7. ↑ "Glass - Mumbai".
  8. ↑ "Mr. Chunduru Srinivas, VP Strategy & Head-Investor Relations, Piramal glass". India Infoline.
  9. ↑ Standard, Business. "Piramal glass wins 'Best HR strategy in line with biz' award".
  10. ↑ Control, Money. "Piramal Glass cons revenues grew 21.8% to Rs 2.3bn".
  11. ↑ Control, Money. "Piramal Glass reports Rs 169.08 crore turnover for quarter ended Jun 2010".
  12. ↑ Control, Money. "Piramal Glass reports Rs 196.22 crore turnover for quarter ended Sep 2010".
  13. ↑ Standard, Business. "Piramal Glass to invest Rs 100 cr in greenfield project".
  14. ↑ Hindu, The. "Piramal Glass to invest Rs.100 cr in greenfield project".
  15. ↑ "Piramal Glass to invest Rs 100 cr in greenfield project". OneIndia.
  16. ↑ "Piramal wins at NCE Awards". The Nation. 6 October 2013.
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