Closing one chapter, opening another: The year in review (Part III) — The Noel D’Cunha Sunday Column

Ramesh Kejriwal
Chairman, Parksons Packaging

In 2024, Parksons Packaging reached a turnover of approximately Rs 2,000 crores. Ramesh Kejriwal attributes this performance to key investments in roll-fed flexo technology and capacity enhancements in the rigid box vertical. Additionally, the company expanded its footprint globally with the establishment of a greenfield plant in Tanzania. “These milestones represent our commitment to innovation and growth, even in a year of limited demand growth and margin pressures,” Kejriwal states.

The broader market dynamics of 2024 were marked by lower demand and an oversupply situation, which significantly impacted volumes and margins. Kejriwal notes that the industry’s resilience lies in adapting to such fluctuations through strategic investments and operational efficiencies.

Sustainability remains a key focus area for Parksons Packaging. In 2024, the company explored innovative packaging solutions to replace plastics and enhanced solar power capacity across its plants. “Sustainability is not just a trend but a necessity, and we are committed to driving innovation in this space,” Kejriwal emphasises.

Digitalisation and automation continued to play a pivotal role in enhancing efficiency at Parksons. The company leveraged ERP systems for better data analysis and began studying AI tools to boost productivity and cost control. Kejriwal believes these advancements will further streamline operations and enable smarter decision-making in 2025.
To address the growing demand for eco-friendly packaging while maintaining product differentiation and profitability, Parksons has focused on integrating innovation with automation. “This approach allows us to stay ahead of the curve in meeting consumer expectations and regulatory requirements,” Kejriwal explains.

Looking forward to 2025, Parksons aims to prioritise product innovation and optimise capacity utilisation by better integrating its regional plants. Kejriwal underscores the importance of balancing cost-efficiency with growth initiatives. “Cost control measures and critical business development efforts will be essential as we navigate the challenges of excess supply and lower demand,” he notes.

The printing and packaging sector faces a dual challenge of oversupply and limited demand. Kejriwal anticipates that these factors will continue to pressure margins, necessitating a sharper focus on business development and innovation. By allocating major resources toward these areas, Parksons seeks to maintain a competitive edge in both emerging and mature markets.
While global supply chain disruptions have impacted many industries, Kejriwal does not foresee significant constraints for Parksons in 2025. This operational stability will enable the company to focus on core priorities without the burden of logistical uncertainties.

However, Kejriwal’s outlook for 2025 remains cautious. “Unless we witness a significant revival in demand, the excess supply and competitive pressures will make the coming year challenging for the industry,” he concludes. With a steadfast commitment to innovation, sustainability, and strategic growth, Parksons Packaging is prepared to navigate the uncertainties and opportunities that lie ahead.

Sahil Rao
Director, Unbox

The year 2024 proved transformative for Unbox, with significant investments in semi-automatic machinery to address the rising demand for customised luxury packaging. According to Sahil Rao, the company struck a fine balance between fulfilling high-volume orders and managing shorter runs of premium boxes. This necessitated versatile production capabilities, which guided their choice of semi-automatic solutions over fully automatic plants. “This approach allowed us to reduce labour-intensive processes while maintaining flexibility for both large and small orders, ensuring superior finishing and cost efficiency,” Rao explains.

Among the enhancements, Unbox added a conveyor line with an automatic glueing tank for faster and more systematic rigid box manufacturing. To handle increasing volumes, an automatic grooving machine was introduced, alongside a replicated rigid box production setup equipped with smaller machines for glueing, corner pasting, and pressing. These improvements enabled efficient management of smaller orders while maintaining scalability. As a result, Unbox achieved an impressive turnover increase of approximately Rs 4.5-crore.

Sustainability dominated the packaging landscape in 2024, with brands increasingly eliminating plastic and opting for paper and paperboard-based compartments. Rao notes the industry’s shift from mass-market to luxury packaging, with brands investing in packaging as a key element of product presentation. This has driven higher demand for rigid boxes, although intensified competition has also led to cost-cutting pressures.

Regionally, the Pune commercial market experienced a shift, with a decline in real estate brochure printing and a slight uptick in book printing. Rao observes a stark difference between commercial and packaging clients, “While commercial printing clients often focus on rate comparisons, packaging clients are more involved and enthusiastic about finding the right solutions for their products.”

In 2024, Unbox made strides in sustainability by producing lamination-free packaging for mass-market clients and minimising the use of plastic wherever possible. Rao highlights plans to further reduce PU foam usage by replacing it with paperboard and corrugated alternatives, supported by partnerships with local suppliers to reuse foam waste. “Sustainability means different things to different clients. While some prioritise lamination-free packaging, very few inquire about sustainability initiatives within our facilities,” he remarks.
Over the past two years, Unbox has progressively migrated job planning, inventory management, and estimation processes to cloud-based applications. This digital shift has streamlined coordination across its three units and enhanced operational efficiency. Tools like Google Sheets have been pivotal in automating inventory processes and reducing turnaround times for repeat orders.

Rao also acknowledges the transformative role of simple apps like WhatsApp in managing daily activities and coordinating among teams. Furthermore, thanks to successful social media marketing and SEO strategies, over 90% of Unbox’s new clients come through digital channels. Looking ahead, the company aims to refine these processes further and explore tools like 
ChatGPT for creating workflows and SOPs, thereby enhancing productivity.

In 2025, Unbox plans to address the gap between high engagement on social media and conversion challenges by adopting dual strategies. The company will invest in high-volume, low-margin automated lines while continuing to specialise in low-volume, high-margin customised luxury packaging. Unbox is introducing a new line of affordable, ready-to-sell products targeting the D2C market to diversify further. “This approach allows us to tap into a broader audience while maintaining profitability,” Rao asserts.
Price sensitivity and intense competition are significant challenges for the printing and packaging sector. Many players are investing in larger machinery to lower costs, but Rao emphasises Unbox’s focus on targeting clients who value premium packaging. The company also faces a shortage of skilled personnel, which it aims to address through automation and digital tools, reducing dependency on specialised staff.

In 2025, Unbox plans to expand into emerging markets while strengthening its premium packaging offerings for mature markets. The company’s marketing efforts will continue targeting niche audiences, supported by R&D for innovative D2C products. On the supply chain front, Unbox is exploring material imports and maintaining critical inventories to mitigate disruptions.
Rao remains optimistic about 2025, envisioning it as another year of growth for Unbox. While intense competition may pressure margins, the company’s focus on innovation, quality, and strategic expansion positions it well for success. “Clients are increasingly dynamic, frequently changing their packaging strategies. Expanding our client base remains a priority to mitigate variability,” Rao concludes. With a robust strategy in place, Unbox is poised to navigate challenges and capitalise on opportunities in the evolving packaging landscape.

Sahil Shah
Director, Letra Graphix 

Sahil Shah says his company entered 2024 determined to strengthen its core capabilities through technology investments and operational efficiency. “We streamlined processes through partial ERP implementation and focused on digital engagement, advanced security features, and sustainability in our labelling solutions.”

Sustainability dominated discussions in 2024, encompassing eco-friendly materials, supply chain transparency, and interactive features such as NFC or QR codes. Shah observes that these demands propelled Letra Graphix to adopt hybrid printing solutions for greater speed, personalisation, and reliability. The company also pursued recyclable and biodegradable substrates, mindful that true sustainability often requires understanding the full lifecycle of materials like PP or PET. “While paper is often seen as ‘greener,’ PP or PET can sometimes be more efficient from a holistic perspective,” explains Shah. This balanced view underscores the importance of tailoring solutions to the needs of each project, rather than simply following market fads.

Alongside materials, Letra Graphix took steps in 2024 to reduce waste and energy consumption within its operations, a strategy that Shah says will expand in 2025 through additional CSR initiatives and improved materials supporting circular economy principles. The partial ERP rollout has already shown benefits such as lower paper usage and better data accuracy, prompting the company to plan a comprehensive launch next year. “Fully integrating ERP will help us improve supply chain management, streamline processes, and make faster, data-driven decisions,” remarks Shah. This approach will enhance efficiency and reduce environmental impact, reflecting the company’s broader commitment to responsible practices.

Shah notes that meeting eco-friendly demands requires careful consideration of profitability, product differentiation, and emerging regulations. “We’re dedicated to educating our customers about sustainable options so they can make informed choices,” he says. Letra Graphix aims to embed green practices throughout its entire value chain by sourcing environmentally responsible substrates and partnering with like-minded suppliers. At the same time, the company remains alert to the complexity of sustainability, recognising that each material and manufacturing technique has its own advantages and drawbacks.

Looking to 2025, Letra Graphix plans to expand its ERP platform fully, aiming for a 70 to 80 percent cut in paper usage while continuing to optimise raw material consumption. Shah says the strategy also includes investing in advanced machinery and lean manufacturing methods to strike a balance between innovation and cost control. “We want to ensure our customers can choose smart materials without compromising profitability,” he explains, noting that the company seeks to maintain healthy margins in an intensely competitive market.

Major hurdles for the printing and packaging sector in 2025 include heightened regulations, escalating raw material costs, and faster turnaround requirements. Letra Graphix intends to overcome these challenges through proactive technology adoption, especially in hybrid printing. Strengthening partnerships with suppliers will remain a priority, as “collaboration and mutual growth are essential for operational resilience,” says Shah. 

Sanchit Gupta
Director, Sain Packaging

Sanchit Gupta from Sain Packaging shares how the company’s investment in pre- and post-press equipment helped it achieve a 30% increase in turnover

In 2024, Sain Packaging achieved a 30% increase in turnover, underscoring its growth and adaptability in the offset printing and packaging sector. According to Sanchit Gupta of Sain Packaging the key drivers of this growth were investment in a high-precision die-cutting machine, elevating the quality and efficiency of production; adoption of advanced Esko software, streamlining the pre-press processes and ensuring precision in product delivery, and strengthened focus on mono cartons and corrugated boxes, meeting the market’s growing demand for high-quality, customised packaging solutions.
 
Gupta says the printing and packaging industry in 2024 was shaped by several pivotal trends, including increased demand for eco-friendly materials such as biodegradable and compostable substrates and enhanced regulatory pressures on waste management and the reduction of plastic use. “These trends pushed us to prioritise innovation in sustainable materials and accelerate our digital transformation, ensuring that we stayed ahead in delivering functional and environmentally conscious packaging solutions,” Gupta says.

According to Gupta, sustainability was a central focus in 2024, and Sain Packaging took meaningful steps to align its operations with this imperative. This included increased reliance on recycled paperboard for mono cartons and corrugated boxes, and implementation of energy-efficient manufacturing technologies to reduce carbon footprint.

Looking ahead to 2025, Sain plans to innovate further by developing cost-effective and environmentally friendly packaging solutions. It also plans to transition to renewable energy sources in its manufacturing units and engage consumers through campaigns emphasising the benefits of sustainable packaging.

Talking about digitalisation and automation, in 2024, Sain Packaging invested in smart sensors for real-time production monitoring. It also invested in AI-driven process optimisation to minimise waste and maximize efficiency, and cloud-based ERP systems to improve supply chain visibility and decision-making.

Gupta says, in 2025, these advancements will empower the company to deliver faster turnaround times through streamlined workflows; reduce costs with predictive maintenance powered by AI; and expand its offerings to include personalised packaging solutions for niche markets.

To meet the growing demand for eco-friendly packaging, Sain adopted a dual approach — innovation and efficiency. The company developed recyclable, biodegradable mono cartons and corrugated boxes that maintain both aesthetic appeal and functionality. It also optimised procurement and production to keep sustainable solutions competitively priced. Further, the company is expanding into premium markets like luxury goods and organic food packaging, emphasising sustainability without compromising product differentiation.

To balance growth in emerging markets with competitiveness in mature ones, in the new year, the company will prioritise investments in capacity expansion and product diversification. It also plans to market eco-friendly solutions aggressively to global audiences, at the same time enhancing R&D for innovative, cost-efficient packaging solutions.

To mitigate risks from global disruptions, the company plans to build buffer inventories for critical raw materials; diversify its supplier network across geographies and strengthen in-house logistics capabilities to reduce dependency on third-party providers.

Gupta anticipates 2025 to surpass 2024 in opportunities and growth, driven by rising demand for sustainable and innovative packaging; stabilisation of global supply chains and raw material prices and increasing consumer willingness to invest in eco-friendly options.

Vishwamdev Bhotica
Director, SAPCO

Vishwamdev Bhotica reflects on the milestones of 2024. With a focus on sustainability, innovation, and navigating industry challenges, he provides a comprehensive view of SAPCO’s journey and aspirations.

Bhotica begins by highlighting SAPCO’s ability to align its investments with customer needs over the past year. “We have effectively utilised our investments to cater to evolving market demands,” he states. Emerging trends such as sustainability, traceability, and recyclability have profoundly influenced the printing and packaging industry, and SAPCO has actively adapted to these changes. Bhotica observes a decline in the use of metallised polyester (metPET) and an increasing shift away from plastic, aligning with global sustainability efforts.

In 2024, SAPCO took significant steps to enhance its sustainability profile. The company installed a solar roof at its facility, demonstrating a commitment to reducing its environmental impact. “Sustainability is a holistic endeavour for us,” Bhotica explains, indicating that these efforts form part of a broader strategy to meet the industry’s growing emphasis on eco-friendly practices.

Digitalisation and automation remain central to SAPCO’s operations. Bhotica notes the company’s ongoing focus on adopting advanced software solutions and automating processes to improve efficiency and foster customer retention. However, he acknowledges there is still room for growth, particularly in automating order processing. “We are continually striving to create new avenues for customer engagement and operational excellence,” he adds.

In response to the increasing demand for eco-friendly packaging, SAPCO has prepared various sustainable options, including water-based barrier coatings as alternatives to polyethene (PE). These innovations ensure product functionality while adhering to environmental standards. Bhotica remarks, “We are well-positioned to offer solutions that balance usability with sustainability.”

Looking to 2025, SAPCO’s priorities revolve around cost efficiency and profitability. Following substantial machinery investments in recent years, the company aims to optimise its resources to drive long-term gains. “Our investments are paying dividends, and we remain focused on enhancing profitability through cost-effective measures,” Bhotica explains. He also highlights SAPCO’s agile team, which has been instrumental in addressing challenges such as falling minimum order quantities (MOQs) and the demand for faster turnaround times.
Resource allocation will play a pivotal role in SAPCO’s strategy for the upcoming year. Bhotica notes that the company’s operations are already diversified across multiple verticals. “We constantly identify niches within sectors to spur growth and maintain a competitive edge,” he says, underscoring the importance of market intelligence in shaping business decisions.

Bhotica emphasises the need for prudent planning to address global uncertainties and supply chain disruptions. “We aim to stay ahead of the curve without becoming overly aggressive in our approach. The stability of the Indian market is a positive sign,” he states. This measured approach ensures operational resilience while navigating an unpredictable economic landscape.

Bhotica’s outlook for 2025 remains optimistic. “We are confident about the year ahead and the opportunities it holds for both SAPCO and the broader industry,” he concludes. As SAPCO continues to prioritise sustainability, innovation, and efficiency, it is well-positioned to thrive in an evolving and competitive market.