Radha Madhav Corporation Ltd bags order from Reliance Retail & Fab mart

Radha Madhav Corporation Ltd (RMCL) has announced that the Company has bagged approval from Reliance Retail for the Company’s alternate packaging and received the initial order.

Reliance Retail has placed initial first order of approximately Rs 3.25 Lacs and to be supplied within a week for the launches. Fab Mart has also placed initial first order worth Rs 11.00 Lacs to be supplied within a month.

The order from Reliance Retail is to supply packaging material films for its various branded products to be distributed through Reliance Retail chains. The packaging for the printed bags will be of the food grade, which will be made from high performance, lower thickness films. These films will be cheaper in comparison to the conventional packaging and better in aesthetics and properties. The same is 100% recyclable and environmental friendly.

Alternate packaging, an innovative packaging film developed by the company not only saves the cost of the product but also is contributing towards company’s efforts to develop environmentally friendly products. Excited by the success and acceptability of the Alternate Packaging solution developed by in-house R&D just in three months time of its launch, company has commenced its R&D efforts in discovering various other options under guidance of European Technical Partners. This will bring company and our country at par with international packaging and environmental standards. Due to the technical competency of the company scalability of the production is easily achievable.

The Company is already in the advance stage of negotiation with international brands looking at setting up manufacturing facilities in India. Company is very hopeful to receive good orders for the alternative packaging solutions and is amongst the first to corporatize the same.

Source : Equity Bulls

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