Piramal Glass Ltd

BSE: 1754 | NSE: 532949 | ISIN: INE748E01018 
Market Cap: [Rs.Cr.] 1,121.41 | Face Value: [Rs.] 10
Industry: Glass & Glass Products

Company Profile

Piramal Glass Ltd is a global leader in delivering world-class packaging solutions for the perfumery and pharmaceuticals businesses. The company manufacturers glass containers for the Pharmaceuticals, Cosmetics & Perfumery and Speciality Food & Beverage industry. Their end-to-end flacconage solutions include full bottle design capabilities, in-house mould design, CNC machines for mould manufacturing, high quality glass manufacturing and dedicated ancillaries for decoration and accessories like caps, cartons and brushes. The company manufactures wide range of glass bottles and jars, in sizes ranging from 2 ml to 2.5 liters. They have their production facilities at Jambusar and Kosamba in Gujarat, India. They also have a large geographic footprint, with a sales and distribution presence in most major markets across the globe. They have marketing offices in India, USA, UK, Sri Lanka, France, Brazil, Italy, Germany and Turkey. The company's products find application in Cosmetics & Perfumery (glass bottles for nail polish, foundation, fragrance, roll-on and creams), Pharmaceutical (glass bottles for injectibles, vials, ampules) and Food & Beverages (glass bottles for high end alcoholic and non alcoholic beverages, miniature foods served in airlines). The company six subsidiaries, namely Piramal Glass Ceylon PLC, Piramal Glass International Inc, Piramal Glass (UK) Ltd, Piramal Glass - USA Inc, Piramal Glass Flat River LLC and Piramal Glass Williamstown LLC. In this Piramal Glass Flat River LLC and Piramal Glass Williamstown LLC are the subsidiaries of Piramal Glass - USA Inc. Piramal Glass Ltd was incorporated on February 6, 1998 as a private limited company with the name Gujarat Glass Pvt Ltd. The business of the company was earlier owned by the erstwhile Gujarat Glass Ltd. In the year 1984, Piramal Group acquired controlling interest of erstwhile Gujarat Glass Ltd. In the year 1991, the erstwhile Gujarat Glass Limited was merged with PHL (another Piramal Group Company) through a Scheme of Amalgamation and continued as the glass division of PHL until 1998. In the year 1998, the glass division of PHL was spun off into a separate company, named Gujarat Glass Pvt Ltd. In February 13, 1998, the word private was deleted from the company's name and the company became a deemed public company. In September 28, 2001, the company ceased to be a deemed public company and converted into a private limited company. During the year 1998-99, the company established a new plant at Jambusar with a capacity of 230 TPD. During the year 1999-2000, they commissioned another new plant at Kosamba with the capacity of 35 TPD to export cosmetic bottles and pharmaceutical vials. Also, they acquired 73.76% stake in Ceylon Glass Company Ltd, Sri Lanka (now known as Piramal Glass Ceylon PLC). During the year 2002-03, the company constructed a facility with the capacity 65 TPD at Kosamba totally dedicated to cosmetic & perfumery segment. They incorporated a wholly owned marketing subsidiary in USA, namely GG USA Inc (now Piramal Glass International Inc) to cater to US market. During the year 2003-04, the shares held by Nicholas Piramal India Ltd in the company were transferred to Kojam Fininvest Ltd with effect from July 1, 2003 as per the scheme of arrangement. Consequently, the company ceased to be the subsidiary of Nicholas Piramal India Ltd and became the subsidiary of Kojam Fininvest Ltd with effect from July 1, 2003. During the year 2005-06, the company acquired the cosmetics moulded glass products division of the Glass Group (Inc) USA through their wholly owned subsidiary company, Gujarat Glass International Inc. Also, they acquired the assts of International Bottle Company Ltd, UK through their wholly owned subsidiary company, Piramal Glass (UK) Ltd. During the year 2006-07, the company relined their 18 TPD furnace and 40 TPD furnaces both at Kosamba. In March 2007, the company was converted into a public limited company and consequently the name of the company was changed from Gujarat Glass Pvt Ltd to Gujarat Glass Ltd. During the year 2007-08, Kojam Fininvest Ltd merged with the company with effect from April 1, 2007, pursuant to the Scheme of Arrangement and Amalgamation. The company invested two new state of the art furnaces, one in Kosamba and one in Jambusar to cater to the growing demand. Also, they increased the production capacity of Glass Containers from 173,150 MT to 220,440 MT. In December 5, 2007, the company commissioned furnace with 105 Tonnes per Day (TPD) capacity at Jambusar plant. In February 28, 2008, the company's shares were listed on the Bombay Stock Exchange Ltd and National Stock Exchange of India Ltd and in March 5, 2008, the shares were listed on Ahmedabad Stock Exchange Ltd. The name of the company was changed from Gujarat Glass Ltd to Piramal glass Ltd with effect from April 2, 2008 as a part of group branding initiative. During the year 2008-09, the company increased the production capacity of Glass Containers from 220,440 MT to 246,375 MT. In May 2010, the company appointed Damco as their supply chain partner, which is an extension to the business relationship that the company had with Damco over the past few years. They stepped up their supplies of high value USP Type I Borosilicate glass vials for injectables and infusions.

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Key Information

Key Executives:

Ajay G Piramal , Chairman

Vinita Bali , Director

Vimal Bhandari , Director

Dharendra Chadha , Director

Company Head Office / Quarters:

Piramal Tower,
Ganpatrao Kadam Marg,
Phone : Maharashtra-91-022-30466969 / Maharashtra-
Fax : Maharashtra-91-022-24908824 / Maharashtra-
E-mail : complianceofficer.pgl@piramal.com
Web : http://www.piramalglass.com


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