Knack Packaging - IPO Report

Knack Packaging Ltd. is one of India's leading vertically integrated manufacturers of Printed & Laminated Woven Polypropylene (PLWPP) bags and pinch-bottom bags, operating under a B2B2C model with an estimated 10.1% market share in India's flexible bulk PLWPP bags segment in FY25. The company offers value-added, customised packaging solutions with advanced features such as laser-cut easy-open bags, RFID, QR codes and barcodes, serving 1,950+ customers across food, fertilizers, chemicals, cement and other industries.

The company operates four manufacturing facilities in Gujarat with an aggregate installed capacity of 43,300 MTPA, operating at 81.6% capacity utilisation in FY26. Its fully integrated manufacturing process, from PP granules to finished printed bags, enhances cost efficiency, quality control and delivery speed, while supporting a diversified portfolio of 13,379 SKUs backed by 73,000+ printing cylinders.

Knack exports to 71 countries across six continents, with exports contributing 56.3% of FY26 revenue. Its strong international presence is further supported by a wholly owned subsidiary in South Africa and a joint venture in Mexico, strengthening customer proximity and expanding its footprint across North America and other global markets.

The company focuses on high-margin, value-added packaging solutions supported by advanced printing and customisation capabilities. It meets 80% of its energy needs through renewable sources and holds certifications...