Manjushree Technopack rebrands as Alternicq, pivots to innovation-led packaging solutions
At Plastindia 2026 being held at Bharat Mandapam in Delhi, from 5 to 10 February, Thimmaiah Napanda, managing director and CEO, Manjushree Technopack highlights the rebranding of the company
06 Feb 2026 | By Abhay Avadhani
Thimmaiah Napanda, managing director and CEO of Manjushree Technopack
Manjushree Technopack, India’s largest rigid plastic packaging company, announced its proposed transformation and rebranding to Alternicq Limited at Plastindia 2026, held at Bharat Mandapam, Delhi. The change, which is subject to statutory and shareholder approvals, signals a strategic shift from manufacturing-led growth to innovation-driven, customer-centric, and integrated packaging solutions, with a core focus on enabling plastic circularity.
In an exclusive conversation with WhatPackaging?, Thimmaiah Napanda, managing director and CEO of Manjushree Technopack, explained the vision driving the change. The new name, ‘Alternicq,’ is a portmanteau representing "alternative thinking," a philosophy that reflects the company’s focus on innovation and delivering high-quality solutions at scale across the packaging value chain.
The brand’s visual identity captures this evolution: two rectangles converging to form a diamond — a symbol of rarity, brilliance, strength, and unique perfection. As Napanda described it, one rectangle signifies Alternicq and the other, its customers, coming together to forge path-breaking solutions. “The evolution from Manjushree Technopack to Alternicq marks a defining moment in our 45-year journey,” stated Napanda. The CEO was quick to assure stakeholders that the foundational legacy of Manjushree will be preserved despite the brand change.
The new branding of Alternicq is meant to symbolise a collaboration between the company and its customers
Innovation, operations, and AI at the core
Napanda detailed three key pillars that underpin the new, innovation-led strategy.
The first of these is Avenia, the World-Class Innovation Centre, which is located in Bidadi, Bengaluru. This centre, which leads a three-pronged innovation approach including Blue Sky research — proactively going out to the market, finding out what the end customer truly needs, and then providing the solutions. A recent example is the launch of an all-plastic pump replacing conventional metal spring pumps, making the product 100% sustainable and recyclable without disassembly.
Then, there is Optima, which is a customer-led innovation model, where the company supports partners from design and prototyping to commercial-scale production.
And finally, there is Project Earth, which is focused on incorporating recycled materials into the manufacturing process to drive circularity at scale.
Napanda added, "Recognising a lack of operational benchmarks in the packaging industry, Alternicq has benchmarked its processes against the automotive manufacturing system, implementing the APS, which is aligned with the Toyota Production System." This is a multi-phased initiative to transform all 30 of the company’s manufacturing facilities across India to operate at a 'world-class level' in efficiency, productivity, and performance, ensuring that the factories, whether in Japan or India, will have a similar look, feel, and performance aesthetics. The new Mysore factory is already operating on APS from day one. Napanda confirmed the launch of an enterprise-wide Artificial Intelligence (AI) implementation.
Growth trajectory and market outlook
Backed by PAG, one of Asia’s leading alternative asset managers, Alternicq has solidified its position as India’s largest rigid plastic packaging company, with an installed capacity of 275,000-mtpa. The company’s growth has been substantial, expanding from six or seven factories to 30 manufacturing facilities over the last four to five years. The company plans to build three new factories within the next 18 months in Baroda, NCR, and Hyderabad. It employs over 2,400 people, with approximately 1,800 in support, R&D, sales, and operations.
Napanda sees untapped potential in the Indian market, which is driven by rising per capita consumption across key sectors like FMCG, pharma, and dairy. He believes the rigid plastic packaging could grow 20–30 times over the next two decades, stating: "We are the largest and we are just not even half a billion dollars. And that shows the opportunity, potential for people like us."
Manjushree Technopack announced its proposed transformation and rebranding to Alternicq Limited at the Plastindia 2026 exhibition, Delhi
Face to face with Thimmaiah Napanda
WhatPackaging? (WP): Your specialisation is in the automotive world. What did you learn and what have you brought to the rigid plastic packaging space?
Thimmaiah Napanda (TM): Having spent 30 years in the automotive world, I witnessed the transition of that industry from a fragmented Indian landscape to a world-class standard, comparable to global peers. When I came to packaging, I saw we were about 15 years behind. My core mission has been to replicate that transition: transforming operations to a world-class level, providing a clear strategic roadmap, and fostering upfront involvement with customers to drive the next level of product development. The biggest challenge is the fragmented nature of this industry, which prevents others from investing in the necessary scale, technology, and experienced people — a gap that Alternicq is perfectly positioned to fill.
WP: There is a negative perception about rigid plastic packaging. What is the core messaging you want to convey regarding plastic?
TM: There are two essential truths we must drive home. Number one: rigid plastic packaging is one of the best substances for packaging. If you look at it from a greenhouse gas emission and carbon footprint perspective, plastic is the best compared to glass and metal. Number two: the negative connotation is only because we don’t recycle effectively. We must create an ecosystem for recycling and use the plastic back in the manufacturing process — ensuring it keeps rotating. We also need to educate the public on the difference between rigid plastic packaging, which can be up-cycled (bottle-to-bottle recycling), and non-recyclable multi-layer or single-use plastic, which is the real source of pollution on the streets.
WP: In terms of growth, what next for Alternicq? Are there plans for expansion outside of India?
TM: We will continue to grow the way we have been growing in the last five to six years. At this point in time, we are not looking at going out of India, because there is so much opportunity in India itself. With the new brand image, we are very enthusiastic about what's in store for the next five to ten years.
WP: What is the importance of people and culture in this transformation?
TM: Our people are paramount. We are a professionally run company, and our leadership team brings an average of 25 years of experience from very good, reputable industries. They have joined us to make us a world-class organisation. Whatever strategy we are putting in place, we are executing it very well, and I don’t see any sense of impatience. We are focused on continuing to drive value for our stakeholders over the next five to seven years.
Disclaimer: The proposed change in the company’s name from Manjushree Technopack to Alternicq is subject to receipt of statutory and shareholder approvals, and will take effect upon completion of the requisite formalities.