Gandhinagar: Gujarat Raffia Industries Ltd (GRIL), a leading manufacturer and exporter of HDPE Tarpaulins, Plastic Sheeting, and Ground Sheeting, is eying a foray into solar power. Along with expanding capacity in its core business and expanding export footprints, the company is working on plans to foray into solar energy. Company, In its annual report for 2022-23, has mentioned that the company has raised borrowing for the purchase of Machinery and a Solar plant.
Established in 1984, Gujarat Raffia Industries Limited is one of the major manufacturers of PE Tarpaulin, Plastic Sheeting, Ground Sheeting, Geomembrane, Tents, Shelters, Pond Lining, Canal Lining, Fumigation covers, HDPE Woven Bags, PP Woven Bags, Vermibed and Ropes etc. The company’s plants have all the latest manufacturing facilities and have top quality measures for a good working environment. The products that the company offers, like Tarpaulins, Tents, Geomembrane, Vermibed, Agro sheets, Fumigation covers, PP Bags, etc., are completely maintenance-free.
For FY22-23, the company reported an export turnover of Rs. 10.33 crore, over a 25% jump from exports of Rs. 8.23 crore reported in FY21-22. The Company has successfully initiated its efforts to increase exports and has set a target of exporting more than 40% of its production. The company currently exports to countries including the USA, UK, Israel, Yemen, Hungary, and Romania, among others.
The company has a state-of-the-art manufacturing facility located in the lush green industrial area on land measuring 26000 sq. yards. The plant is also well conncted with proximity to major Sea ports. By adopting world-class technologies in manufacturing, quality control, and R&D, the company has strengthened its product portfolio ever since its inception in 1984. Also, the company is well equipped with the latest testing laboratory and R & D Centre to ensure the quality of products we deliver to our valued customers.
The HDPE/PP woven Sacks/ Bags industry as a whole will benefit from the relaxation of the Jute Mandatory and Packaging order subject, which will enable the Food Corporation of India and other agencies to pack food grains in HDPE/PP Bags. The HDPE/ PP Bags sector is the biggest sector in India for packaging.
For FY22-23, the company reported a total income of Rs. 41.28 crore and earned a net profit of Rs. 1.03 crore. Promoter Group holding as of September 2023 stands at 39.56%.
In spite of the economic slowdown, the company is quite positive about better results as the Company has a sizable presence in the fertilizer and agriculture sectors. The opening up of the food grains sector will enable the woven sacks industry to see better times again. The company has completed expansion work at the plant, which has increased its production capacity. We are expecting growth in the Domestic market for Tarpaulin, fabric and sacks.