This company of Ayodhya makes food plates from sugarcane bagasse, listed in NSE

Name change and listing on NSE

Ved Krishna, vice-president of 42-year-old company Paika Limited, says that at present the company is going through a phase of rapid expansion. Recently, it has wrapped up its plant development plans in Guatemala and started work on capacity expansion for its plant in Ayodhya, Uttar Pradesh. Presently, the company continues to be a leading provider of regenerative packaging solutions for food products. This company has also got a new identity. Actually, earlier the name of this company was Yash Pakka Limited. Its name has now been changed to Paika Limited. It has been listed in NSE only recently.

what does the company make

At this time people have become very sensitive towards the use of plastic goods, especially single use plastic. The government has also banned many single use plastics. Paca Ltd. provides an eco-friendly solution to plastic cup plates. Its products are made from sugarcane bagasse. Hence it is compostable. Meaning that if you put it in the soil, it will turn into soil in no time. Even if a cow eats it, it is not harmed. Since it is made from sugarcane bagasse, the cow also finds it sweet to eat. The demand for its products is continuously increasing in the market. That is why the company has set a revenue target of one billion dollars (Rs 8,250 crore) by FY2030.

Production capacity will increase
Jagdeep Hira, Managing Director, Paika Limited, says that the company is currently working on many fronts simultaneously. On the one hand, while the production capacity is being expanded, access to new markets is also being made. There is a plan to increase the production capacity of sugarcane bagasse pulp for making plates by 30 percent. For this expansion program of Ayodhya unit is proposed. Not only this, Packa is also working on a global research collaboration for compostable flexible packaging on several biomaterials.

Rs 550 crore will be invested in Ayodhya
PACA is expanding capacity at its Ayodhya facility for Project Jagruti. There will be an investment of about Rs 550 crore in this project. The company is setting up a unit in Guatemala with a production capacity of 400 tonnes per day. It is expected to be operational by the year 2025. The company plans to invest US$250 million to set up the world’s largest compostable flexible packaging and molded fiber facility based on bagasse fiber there. Paca has signed MoUs with major Guatemalan sugar companies for the purchase of sugarcane, the primary raw material used for the company’s products.