Kanpur Plastipack Limited — Important, 07-05-2025: Closure of operations

Kanpur Plastipack Limited has closed its CPP division after selling the plant and machinery to SRF Limited. The CPP unit generated ₹20.13 Cr (4.08% of total turnover) but incurred a net worth loss of ₹6.33 Cr in FY23-24. This sale is expected to cut debt significantly, saving about ₹10 Cr annually in interest costs. The company will now concentrate on its profitable Raffia division, aiming to strengthen its core business and improve its financial health going forward.