Pakka Limited, a company specializing in the production of compostable plates and bowls, has experienced a significant surge in its share prices following its association with the construction of the ram temple in Ayodhya. The company secured a contract to supply 2 lakh plates and bowls for use in the temple, leading to a surge in investor interest.
The decision to provide compostable plates and bowls for serving prasad (ritual offerings) in the ram temple was made after a meeting between Pakka's promoter and vice president Ved krishna and Champat Rai, the general secretary of ram Janmabhoomi Kshetra Trust, on november 12, 2023.
Since the tie-up with the ram mandir Trust, Pakka Limited's shares have witnessed a remarkable increase. In the month of january alone, the company's share price rose by Rs 143.80, reaching Rs 382.50. Over the last month, there has been an overall increase of about Rs 150 in the share price.
In the financial year 2021-22, Pakka Limited reported a turnover of Rs 300 crore, and it aims to reach Rs 500 crore by 2022-24, with current figures already reaching Rs 400 crore. The company, founded in 1981 and previously known as yash Limited, underwent a name change to Pakka Limited in 2005, marking its commitment to environmental sustainability.
Following its association with the ram temple project, Pakka Limited is setting a target of Rs 650 crore. The tie-up involves supplying plastic-free compostable items for disposable use in the temple, and the company has already shipped 50,000 plates and bowls. As part of the tie-up, around 10,000 special 350 ml container bowls will be supplied to the ram temple for packing prasad for dignitaries. The positive investor response is attributed to the increased business generated by the ram mandir association.
