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the globePackaging

Packaging the globe with sustainability Biltube is a global enterprise in the making. It is marching ahead

with modest but firm steps with the simple and sole intention of

being the preferred cylindrical packaging partner for customers

across various segments and geographies.

Biltube’s commitment to quality has remained unchanged in

a changing scenario as the Company has made its first moves

towards going beyond the Indian frontiers and taking on

the world.

Biltube’s unflinching commitment to deliver world-class

products to industries such as textiles and paper gives it that

extra edge needed to make the next quantum leap. Its integrated

supply-chain strategy has helped it to remain a Company

that thinks global and acts local to provide immense

customer satisfaction.

Biltube’s products mean safety, timeliness and cost-effectiveness

for its customers.

Biltube is not just another packaging firm; each product that

comes out of its unit is a statement of the Company’s commitment

to quality cylindrical paper-packaging.

Biltube is redefining standards in quality cylindrical

paper-packaging with its innovative products.

Biltube’s most important resolve is to be able to package the

globe consciously, sustainably and profitably – qualities which

will help the Company realize its goal of becoming a leading

global cylindrical paper-packaging player.

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Chairman’s Letter ...................................02

Letter from the Operations Director ............06

Management Discussion Note ....................08

Information Technology ............................14

Human Resources ....................................16

Research & Development ..........................20

Quality ...................................................22

Board of Directors ...................................24

C o n t e n t s

Quality is something that is discovered with persistent efforts. Quality gives us our identity. Quality gives us our reputation.

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Dear Partners,he global recession has had a far-reaching impact on most industries, including cylindrical packaging. But the good news

is that the business is now in revival mode. Indeed, the players have returned to the board and begun identifying the core values that will steer them in their journey ahead.

Biltube’s two-pronged strategy of being an integrated cylindrical packaging player and its continuing focus on quality products not only saw it weather the storm but also created new opportunities for growth. The future will see a continuation of this strategy that helped us stay ahead of others. Our integrated strategy of owning the entire supply chain – from raw material sourcing like waste paper collection and conversion to manufacturing and delivering finished core board products to our customers – has helped us not only keep costs under control but also ensured quality products at par with international standards.

Our financial performance surpassed our own goals, as we continued to realize our global vision for cylindrical packaging. Biltube notched up sales of ` 103.22 crore for the year ended 31st March, 2010 against ` 80.37 crore sales of the previous year, thus clocking an increase

of 28.43% in one year. Our consolidated sales stood at ` 169 crore. The profits before tax saw an impressive growth of 55.80%, rising from ` 10.93 crore last fiscal to ` 17.03 crore in 2009-10. Our PAT grew to ` 13.62 crore from ` 8.52 crore, showing a stellar growth of 59.85%. The consolidated PAT saw an impressive hike of 33.33%, as it grew from ` 12.60 crore to ` 16.23 crore. The financial performance is a compelling story that our business strategy is working well. We remain committed to profitable growth.

As part of our global expansion plans and integrated-manufacturing strategy during the year, Biltube completed a 100% acquisition of a state-of-the-art paper mill in Le Crouzet City, France that will now be a strategic hub servicing our clients in Europe. With this acquisition we now have manufacturing footprints in Asia and Europe. We understand the need to be the preferred cylindrical packaging supplier to global and Fortune 500 customers across their manufacturing, production and logistic locations around the world and our growth will mirror their footprint.

While Biltube is focused and committed to growing its domestic operations, its vision to be one of the top five global cylindrical packaging players is steadily taking shape. We now operate from our strategic business units in Indonesia as well as France. Having set up shop in these strategic locations, we will now look at more ch

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locations to help us better serve our global clients. Currently, we cater to customers in over 35 countries on all five continents. Our growth will come from both organic and inorganic routes as we continue to scout for value-driven global manufacturing assets in our industry for further acquisitions.

The growth estimates of the packaging industry indicate a positive outlook. According to a report by Pike Research, the global packaging industry is likely to grow to USD 530 billion in 2014, up from USD 429 billion in 2009. As a backend operations strategy, we are continuously reducing our cost of operations and creating efficiencies that help us claim cost leadership.

Similarly, on the frontend, customers are ready to pay a premium for our quality products, thus creating brand leadership and superior quality market share. Both our backend and frontend strategies are helping us better our financial performance.

Early into the business we invested in the best technologies and state-of-the-art

manufacturing facilities. This has given us a competitive edge over our Indian peers and we will continue to strengthen our technological know-how. At the SBU level, our performance was noteworthy for all our products — POY and DTY Paper Tubes, Paper Core, Paper Cones and Angular Board. We are readying to meet the rising demand for these products domestically as well as overseas.

Our products have traditionally found applications in the industrial segment but we are in an advanced pilot testing stage for using these products in packaging verticals such as consumer cylindrical packaging, which is one of the fastest growing segments in the world. Quality products have helped us build a strong relationship with our customers and eliminated the need to incur various supplementary costs.

The ever-increasing competition in business, especially in manufacturing, is a reality that we cannot ignore. The need to transport products faster and safely

According to a report by Pike Research, the global packaging industry is likely to grow to USD 530 billion in 2014, up from USD 429 billion in 2009.

Financial Highlights (Standalone figures) (` in crore)

Particulars 2007 2008 2009 2010

Net Sales 36.08 58.52 80.37 103.22

EBITDA 8.29 16.66 24.40 31.89

EBITDA Margins (%) 22.98 28.47 30.36 30.90

PAT 3.62 5.33 8.52 13.62

PAT Margins (%) 10.03 9.11 10.60 13.20

EBITDA

PAT

NET SALES

` in crore

Standalone figures

` in crore

` in crore

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has never been so important in the entire value chain. With few differentiators among products from different manufacturers, the supply chain is emerging as a great advantage. Biltube products help our customers acquire this competitive edge. The role of cylindrical packaging is metamorphosing from a mere safety tool to a critical differentiator. This is doubly true for high-value products that can ill-afford damage and transit loss.

Moreover, environmental issues have assumed significance in the wake of limited resources and unsustainable business actions. In such a scenario, it has been our decision to focus on environmental friendliness and develop our business in harmony with nature. At Biltube we are focused on ensuring the optimum use of recycled paper and scrap paper. We are also working towards developing other eco-friendly products. ‘Environmentally Conscious’ cylindrical packaging will be the new buzzword for the industry and we are committed to green growth and working with communities around us.

Over the years Biltube has become the only organized player in the specialized cylindrical packaging business in India; the other players are either from the unorganized sector or have a set up of one or two localized operations. We will endeavor to retain this advantage even as we grow beyond Indian shores.

Human Resource and Talent is a key to any Company’s growth. With over 300 employees spread across the world, we are growing fast and people are our key differentiator. We are focused on creating an environment based on the ethos of innovation, team spirit and caring employee policies. With our recent acquisitions we now have employees across geographies. Against this background, creating a unified single-employee culture is a key challenge we are engaged in today. Aware of cultural differences, we are respectful to each and every community, culture and country and we intend to create a ‘one Biltube’ culture drawing inspiration in this diversity. Our R&D led customer focus, manpower training and development and going forward, the inculcation of a knowledge-based learning culture will be a strategic area of importance.

Biltube is poised for an exciting journey ahead defining the way the world thinks, as more global companies emerge out of India. We thank all our allies for their support and for being with us on our journey of high growth. At Biltube the future is bright and full of promise, as we strive to garner global leadership in the cylindrical packaging industry in the next five years.

Regards,

Mr. Kiran BhandariManaging Director

going globalOur state-of-the-art plant at France. We acquired this core board factory in December 2009 to further our international business pursuits. It will act as a strategic hub enabling us to serve our European customers. It is a significant move in our global journey.

With over 300 employees spread across the world, we are growing fast and people are our key differentiator.

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Dear Friends,wish to share with you Biltube’s operational effectiveness in our unique growth journey. Due to our

commitment to quality and shop-floor efficiency, Biltube has, over the years, created a dominant cost-and-quality leadership for its products both in India and abroad. Since inception, it has been our philosophy to ensure that strategic growth stems from operational effectiveness which, in turn, leads to profitable growth.

Biltube today is truly an international packaging solutions player, with a presence in both developed and emerging markets like Europe and Asia. This geographic spread throws up the internal challenge of managing cost and buying efficiencies, seamless supply-chain integration of processes and systems across geographies, and consistent product quality across our manufacturing plants. Our operational expertise has helped us plan this transition effectively as we have installed robust Information Technology, Management Information Systems (MIS) and Cost

Controls to ensure that we enjoy the benefits of large-scale purchase in our raw material procurement. We have used mechanization to reduce wastage and product rejection. Besides, we also follow ‘shadow inventory management’ in sync with our clients’ requirements to guarantee ‘just-in-time’ production that significantly reduces idle inventory.

We have made considerable investments in upgrading technology in our manufacturing plants and acquiring state-of-the-art machines that has helped us reduce downtime on account of breakdowns and repairs, and boosted productivity and output. Productivity per hour and per employee has risen progressively over the years and today we have one of the leanest and fittest machine lines in terms of manpower and raw material usage. Currently, our products reach customers in over 35 countries!

Another key focus area for us has been Health, Safety, Security and Environment (HSSE). All our manufacturing plants adhere to global best practices for safety norms and we ensure regular training to our workers in machine handling, hazardous chemicals and other critical areas. This has resulted in

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Since inception, it has been our philosophy to ensure that strategic growth stems from operational effectiveness, which in turn, leads to ‘profitable growth’.

minimization of accidents and loss of man-hours or injury to personnel at the plant. As a packaging Company, we are responsible towards the environment and all our plants adhere to the local environmental and pollution norms of the countries in which they operate. Internally, we work as much as possible towards recycling all our energy resources and have water recycling plants and other natural practices that reduce the use of electricity.

We have invested significantly in

business analytics and the integration of the demand forecasting model with day-to-day operations has resulted in increased efficiency and improved use of capital, machines and manpower. In the last few years, our skilled workforce has improved significantly. Currently we employ engineers, technicians and trained labor which have contributed to high degree of professionalism at our plants.

Biltube plans to add an additional 1,00,000 tons to its manufacturing capacity and 50 more people to the workforce to ensure seamless production growth to meet rising demand. With state-of-the-art plants and effective DCS and QCS systems, the Company is developing a robust production set-up.

Special care is being taken to select the best machinery for faster and better output. To ensure uninterrupted power supply, we have invested in a captive coal based power plant at our Warana facility in India. From a current capacity to generate 6MW power, the power plant will be expanded further as our energy requirements increase.

I have been fortunate to be able to play an instrumental role in leading the operations team from the planning to execution cycle and make a positive difference. Going ahead, I feel that supply chain led cost and operational efficiency will be a key to our sustained growth momentum to further enhance our market leadership. At Biltube, strategy and execution gel seamlessly and that is how the rubber hits the road!

Warm Regards,

Mr. Prakash BhandariDirector - Operations

168.69 crore`

Global players in the cylindrical packaging space need to create an integrated model of manufacturing rather than an outsourced model.

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REcycLABLE PAcKAgINg–THE wAy FoRwARD

he global Forests, Paper and Packaging (FPP) industry grappled with major changes in 2009. While the packaging

industry in mature markets felt the pressure, emerging markets saw packaging companies in China, India and Southeast Asia refashion the global growth path. The paper-packaging industry is observing increasing consumer preference for recyclable environment-friendly packaging. With greater innovation in paper-packaging leading to high strength products, wooden and plastic packaging is giving way to paper-based packaging in many industries. New business segments are thus opening up for serious cylindrical paper-packaging players like Biltube. Its angular-board-based packaging solutions also hold a lot of promise and are getting good consumer response.

As mentioned earlier, the Pike research report estimates that the global packaging industry would grow from USD 429 billion in 2009 to USD 530 billion in 2014. While the growth numbers are attractive, as an industry we need to be responsible and must ensure that recyclable packaging helps in creating sustainable and environment friendly solutions. Global players in the cylindrical packaging space need to create an integrated model of manufacturing rather than an outsourced model – the former gives cost benefits and total control on the quality of the final product. Going ahead, the ability

to source raw material at the right price and ensure quality products will be one of the key differentiators for leadership in this industry.

DoMESTIc INDuSTRy ovERvIEwAn Indiapack report estimates the Indian packaging industry to be valued at USD 14 billion even as new revenue streams evolve for core board packaging solutions. Broad estimates peg the Indian core board market to be of approximately 4 lakh tons. However, the market for high-strength core board products is said to be about 1.5 lakh tons. Since 1982, Biltube has been packaging successfully for its partners in the textile, paper and plastic and polyester film industries through its core board based conversion products. Apart from use in these industries, high-strength core board is finding acceptance in other industries such as consumer durables. Consumers are shifting from low-strength core board to high-strength core board. The growth through this change is M

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Biltube’s strength in the high-strength core board segment is giving a fillip to our business and mutually benefits both, our customers and us.

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also remarkable. This change in the market dynamics has helped us to assess more such industries where high strength core board can be utilized instead of conventional packaging materials like thermocol.

Biltube’s strength in the high-strength core board segment is giving a fillip to our business and mutually benefits both, our customers and us. Our high-strength core board solutions help customers in reducing their costs while paving the way for enhancing quality. They expand the scope of our business and at the same time aid us in better resource utilization of our enhanced capacities.

To take the next quantum leap of growth, the Company has incurred capital expenditure in manufacturing operations and plans are afoot to set up a plant near Kolhapur which will have three times the capacity of the existing plant.

ovERvIEw oF coMPANy oPERATIoNS As the only organized player in the domestic market, Biltube leads the pack with its quality packaging products. Biltube’s total manufacturing capacity is 1,65,000 tons; of this the domestic capacity is 1,35,000 tons.

The strategy team at Biltube has taken

concrete steps across technology, market expansion and cutting-edge innovation during the year. The product portfolio

is also growing with the introduction of newer products such as angular board which is increasingly used in place of thermocol in the consumer durables industry. Our business association with the consumer packaging industry is in an advanced pilot stage and the preliminary feedback is very encouraging. Once the strategic fit is achieved, angular boards will boost Biltube’s revenue.

Going forward, a tactical shift of

players from low-strength core board to high-strength core board will open up new business opportunities for Biltube. In the Indian market, the textile industry generates 50% of our total revenue while 30-35% of our revenue comes from the paper and film industry.

FINANcIAL HIgHLIgHTSThe domestic core board packaging industry has a size of ` 1,000 crore, whereas, Biltube’s domestic revenue stands at ` 103.22 crore.

Biltubes domestic sales crossed ` 100 crore during the financial year 2009-10, while clocking a growth of 28.43% over the last year. The Company’s consolidated sales stood at ` 168.69 crore. The consolidated profit after tax rose 33.33%, from ` 12.60 crore to ` 16.23 crore. Our investments across the globe have come to fruition and resulted in improved working environment for the Company. Our overseas units in Indonesia

Going forward, a tactical shift of players from low-strength core board to high-strength core board will open up new business opportunities for Biltube.

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and France are fast emerging as strategic hubs for servicing the South East Asian and the European markets. Our revenues from international operations are expected to touch ` 200 crore this year, signifying that Biltube has been able to tap the global growth opportunities successfully.

The year 2009-10 was a defining year for us. We branched out to a different geography with tremendous growth potential through acquisition of a state-of-the-art core board plant in France. With this move, Biltube has gained access to the entire European market, which holds a lot of promise.

coRE To gLoBAL SHoREThere is tremendous opportunity for high-quality core board across the globe. We are one of the few global players with the technology and wherewithal to service clients that demand high-strength core boards.

Indonesia has a skewed textile market while the European markets are equally distributed between products that help the paper and film industry. We have got exposure in both markets through our experience in Indonesia and France and our operations in these regions reaffirm our belief in the quality of our product. Moreover, adopting the ‘near-to-customer’ strategy while setting up the Indonesian and French plants has also brought faster growth and efficiency for us through optimization across the supply chain and

reduction in lead time. Going ahead, our mission is to be one of the top five global cylindrical paper-packaging players. For this, we will need to extend our presence to other geographies. Our organic and inorganic expansion plans will play a core part in our strategy towards achieving this goal in the next three years.

A global footprint will enable us to reap the rewards of our investments in technology, expand our base and help us in better capacity utilization through better optimization of resources and gradually make our size a competitive advantage.

Going forward, Biltube intends to expand its global footprint so that it can tap opportunities to satisfy unmet demand for high-quality products. Cultural diversity will be a challenge but with our Indonesian and French set-ups we have been able to meet this challenge.

We have faced challenges of various kinds as we set up shop outside India but our commitment to maintaining high quality standards and our dedication has seen us meet them. We will continue to look for more strategic hubs that will help us in our dream of servicing the world with our packaging solutions.

coRE BoARD AND TuBESThe India strategy is to continue focusing on both verticals —tubes and core boards. The global strategy, on the other hand, is to leverage the rising demand for our M

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Biltube intends to expand its global footprint, so that it can tap the opportunities by satisfying unmet demand for high-quality products.

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core board. Meanwhile, continuous innovation on our part in developing conversion products that more industries can use is bearing fruit. An example of this is the angular board that can be applied in packaging heavy material. Our products offer a high degree of quality, sustainability and safety. We now have a total of four state-of-the-art tube-making plants and two core board plants. Our basic business of tubes has grown steadily but the core board business is on the cusp of steep growth.

coNcLuSIoN AND ouTLooKWe have embarked on our journey to be one of the top global cylindrical packaging companies in the years to come by crafting a business strategy that supports this goal. We would like to swiftly penetrate more regions, expand our base and sustain our profitability. Our efforts would be aimed at enveloping the globe with our packaging solutions in the next three years. This is the mission we have set for ourselves. Our products have been well-received even overseas and we are proud to say that till date no customer has ever returned our goods.

To fulfill our global aspirations we

will look for international assets that are value-driven and boost our manufacturing abilities. Our quality products command a premium over competitive products. The cost leadership at the backend and the price premium advantage that we enjoy

at the frontend of the market continues to be the driver of Biltube’s growth engine. We continue to foster growth with cost leadership, continuous innovation and integrated supply chain advantages. Our domestic and international operations are doing well and we will continue to maintain progress there. In this knowledge economy, we continue to think intensely about the ways and means by which we can improve our customers’ operations.While we have already made relevant investments in technology, we are all the time striving to bring strategic expertise to the table and make a difference to our various stakeholders.

With over two decades of experience in the market, Biltube has the right mix of experience, knowledge, technology and dedication that are integral to achieving success and becoming the preferred packaging solutions supplier for our clients in India and across the globe.

The India strategy is to continue focusing on both verticals - tubes and core boards.

Biltube’s latest international acquisition in Saint - Didier-en-Velay, France

Mr. Bhandari meeting with employees at Saint - Didier-en-Velay, France

In the next few years, we will beef up our IT resources in line with our growth aspirations to ensure a single and unified operating platform.

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nformation Technology (IT) is a key support function at Biltube. With the Company’s manufacturing operations

expanding beyond domestic frontiers, a seamless Information Technology network assumes greater significance. In the next few years we will beef up our IT resources in line with our growth aspirations to ensure a single and unified operating platform.

INTERNAL coNTRoLSA robust system of internal controls ensures that Biltube’s assets are safeguarded and protected against loss from any unauthorized use or disposition.

The system ensures there is correct representation of transactions that are authorized and recorded accurately and adequately. It is fortified by a well-defined process that involves regular reviews, internal audits and documents that lay down specific guidelines to be followed.

The internal control is so structured and monitored that all the facts and financial data are reliably used for information as well as for maintaining a record of events. The management continues to give specific attention to IT and internal controls, since they form the basis of the organization’s efficiency and reliability.

A team of qualified professionals manages the internal controls through a competent, trustworthy and vigilant audit team.

RISKS AND coNcERNSWe see three types of business risks for Biltube. With the Company operating across various geographies and countries, we view geo-political risk with due concern. We have manufacturing plants across three countries and political and socio-economic events in each could affect our operations. Besides, with customers in over 35 countries, international trade practices and India’s bilateral relations with these countries are concerns that can affect our performance. New product development and technological obsoleteness of current methodologies is another business risk that concerns us. The last in this list is the global economic health and consumer spending. With recent events, a global recession, especially in manufacturing and other industries and low consumer intake, could well affect our business.

We believe such risks and concerns are common to any industry and business. Our ability to forecast demand and ensure superior customer relationships will help us to be better prepared to manage such risks. Nevertheless, in order to ensure steady business growth, we take care that no single customer is responsible for a significant part of our revenues.

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gyEnhancing productivityOur state-of-the-art plant at Kadoli, near Kolhapur. It fosters our positioning of domestic leadership. We hiked our core board production capacity from 35,000 tons per annum to 1,35,000 tons per annum.

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Hire character. Train skill.

- Peter Schutz

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ire character, train skill. This quote by Peter Schutz aptly describes our philosophy on human resources and talent

management practices. We at Biltube believe that if a person has the character and right attitude, we have the best available tools and resources to train him or her into a skilful teamplayer. Over the past decade we have built a strong leadership team based not only on the three strong pillars of integrity, transparency and professional conduct, but also a caring work environment.

The year 2008-09 was a challenging one for Biltube’s Human Resource and Talent Management. Like any other fast-growing but young company, especially one having global ambitions, we have been gearing up to implement and integrate international HR best practices in the Company.

During the year and for the next 18 months, one of our key tasks is to build a unified Biltube employee culture in the Company. After acquiring a manufacturing facility in Europe, we are now present in two Asian countries (India and Indonesia) and one European country (France). We have rolled out a strategic HR program to ensure that all new employees seamlessly integrate with the current Biltube team. We will ensure that the people integration process respects the cultural sensitivities of each employee and his or her country. It’s our belief that not only minds but also hearts should meet for any acquisition to succeed.

With an employee strength of over 300 across the globe and growing at a fast pace, we are inculcating leadership and organization management strategy that will support and compliment the fast-paced business growth of the Company. We are rolling out several technical, engineering and leadership training modules that help employees keep abreast with the latest technological and management developments in the industry and scale up their skill sets.

The economic slowdown taught us that going ahead businesses will have to deliver hu

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Establishing the roots for a successful global journey at our plant in France.

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Biltube’s Plant at Purwakarta, Indonesia

increased productivity with fewer resources on an ongoing basis. At Biltube we are focused on manpower rationalization in line with global best practices to deliver the best product at the best price to the customer. To ensure competitive and cost leadership, our HR policies ensure that a merit-based approach is followed. This approach aims at bringing out each employee’s true potential that creates continuous growth opportunities for him.

Biltube’s human resources — the leadership team, management and factory employees — will be the key differentiator in our bid to become one of the top five cylindrical packaging players in the world. At Biltube, we are working towards creating an organization where each employee is empowered, respected and respectful, practices the highest levels of personal and professional integrity and is committed to ethics. We maintain the best industrial relations across all manufacturing plants across the globe and firmly believe that a happy

production team is the key to a profitable and productive Company.

We remain a flat organization, packaging resonance, strength and success for our customers with the highest quality products. Indeed, this has become our hallmark in the industry. We believe our knowledge and people leadership will transcend our factories and products to create a responsible business that is inclusive and in harmony with nature.

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“Innovation is the specific instrument of entrepreneurship. The act that endows resources with a new capacity to create wealth.”

- Peter F. Drucker

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nnovate or die”. This phrase holds more relevance today than ever before. As the competitive landscape

changes rapidly, we are entering an age where continuous innovation will hold the key to sustainable success. Research and development, therefore, will play a critical part in any Company’s success. Biltube regards research and development as the backbone of its business engine and lays a lot of emphasis on delivering research-led solutions to its customers.

Our R&D led focus has helped us to emerge as a successful player in a highly unorganized industry as our dedicated R&D efforts have worked to our advantage. Biltube follows a hub-and-spoke model that covers its national and international wings, wherein a focal center supports all other R&D cells and plays a significant role in the business cycle of the Company. Since 2004, our various plants have established dedicated R&D centers at the central hub, which support the Company’s R&D initiatives across the globe. The following points explain the specialties and activities of each plant• Coreboard—France,Warna(India)• Textile tubes, paper tubes — Indonesia,

Patalganga (India)• Paper cone and core products — Sangli

(India)• Papercoreandfilmcore—Indonesia

Biltube’s R&D operations are backed by a specialized team that comprises talent from

diverse industries such as paper technology, engineering and biotechnology. Between them, the people in this team have decades of experience and exposure in their respective fields, helping them in consistently introducing tailor-made solutions to the customers.

The team follows a carefully laid down

process that starts from the early stages of ‘need identification’, after which the deliverables are defined specifically. A project team is then appointed, bringing together a competent workforce that focuses on the deliverables within the stipulated timelines. The team is given a free hand to operate and a reasonable budget is allocated for R&D activities.

This strong R&D model has enabled Biltube to deliver customized solutions for its varied customers. The department has to its credit the development of high-strength core board technology, high-strength cone-board and thin-walled, high-strength textile tubes, among a range of other innovative products and solutions.

Biltube remains committed to its

customers. Its research and development activities play a pivotal role in its progress and success. It will tap these specialized resources to scale new heights and open up brighter business avenues for itself.

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“Quality is not an act it is a habit.”

– Aristotle

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iltube is built on the foundation of high-quality products. We provide and maintain consistent quality across our key businesses

of core board and conversion products. Biltube’s products have applications in various industries and maintaining good quality standards is imperative for our growth.

Biltube has dedicated quality centers at its plants across the world. These centers follow stringent quality checks and controls to ensure that the end-product has the trademark quality Biltube is known for. The Company has put in place a system that monitors quality parameters across all its manufacturing plants and has stationed trained personnel in each of the quality departments at the plants.

Biltube follows best practices such as Total Quality Management, Kaizen and 5 S models to ensure quality consistency. It has deployed super-sensitive high-end scanners at its core board manufacturing plants to ensure uniform thickness and quality of its core boards. This has helped maintain and monitor all product parameters ‘on line’. With the help of these technical tools, the Company has been tracking and maintaining records of all vital product parameters of every meter of core board coming out of its plants. Biltube has a similar quality assurance system in place for its tubes, cores and cones business. Biltube follows statistical quality control (SQC) checks for all its conversion products using various kinds of online inspection models. Online inspection includes dimensional checks, performance

evaluation, delamination test, grammage variation etc.

Biltube’s approach towards quality is highly focused and uncompromising. It is the investment in quality that has reaped great rewards for us over the years. It is more than just a process at Biltube; it is a commitment to our customers.

Our relentless pursuit of high quality standards has helped us to be distinguished both qualitatively and quantitatively. Our customers have appreciated this approach and repeatedly come back to us because they are assured of the high standards of our products. This emphasis on quality has enhanced Biltube’s brand image and its standing in customers’ minds. The commitment to quality will continue as we cross more milestones in future.

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MR. KIRAN BHANDARIChairman and Managing DirectorMr. Kiran Bhandari is the Chairman and Managing Director (CMD) of Biltube Industries Limited. A first generation entrepreneur, he has spearheaded the overall management, strategy and long-term growth of Biltube over the past two decades. Biltube, a Company that Mr. Bhandari founded in 1982 with his brother, has grown into a successful Indian multinational cylindrical paper-packaging Company under his professional stewardship. He leads a committed team of professionals who are engaged in creating quality products and innovation-led packaging solutions of tomorrow for their customers. Mr. Bhandari is a Commerce graduate and also holds a diploma in Business Management.

MR. PRAKASH HARAKcHAND BHANDARIDirectorMr. Prakash Harakchand Bhandari is an Executive Director at Biltube and also the technical backbone of the Company. A Mechanical Engineering graduate, his sound technical background has helped the Company incorporate shop-floor best practices, resulting in the Company claiming cost and efficiency leadership of its products across the globe. He also relentlessly drives the Company’s mission to deliver world-class quality products and total customer satisfaction.

MR. RAvI LEKHRAjANINominee DirectorMr. Ravi Lekhrajani is a Nominee Director of Biltube Industries Limited and represents Wayzata’s investment interests in the Company. He has over 17 years of experience in the private equity space and last served Crossover Venture Partners before joining Wayzata. Mr. Lekhrajani holds multiple degrees, including the CPA and AICWA.

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MRS. PRAMoDINI KIRAN BHANDARIWhole-time DirectorMrs. Pramodini Kiran Bhandari is a Whole-time Director at Biltube and oversees the day-to-day operations of the Company. With over two decades of experience in business management, her foresight, vision and result-oriented approach has enabled Biltube to enter the professional league of international players in the industry. Mrs. Bhandari’s leadership, people skills and ability to handle day-to-day operations has brought an impeccable discipline to Biltube’s organizational efficiency.

MRS. MEENA PRAKASH BHANDARIDirectorMrs. Meena Prakash Bhandari is a Director at Biltube. She leads the marketing vertical and drives the communication and branding efforts of the Company. With over a decade of experience in Marketing and Communications, she is responsible for turning Biltube into a global brand that is renowned for its products and high levels of responsibility. Mrs. Bhandari has developed strategic marketing programs for the Company’s core target audience. Her ability to spot new business-to-business consumer trends and customer behavior is a key asset to the Company. Mrs. Bhandari is a Commerce graduate.

INDIA

REgISTERED oFFIcE PuNE1102, 11th FLOOR, SAI CAPITAL

BUILDING, SENAPATI BAPAT ROAD,

PUNE - 411 016

TEL : +91-20-2566 2010

FAx : +91-20-2566 0763

wARANA PLANTBILTUBE INDUSTRIES LIMITED

WARANANAGAR, TAL. - PANHALA,

DIST. - KOLHAPUR - 416 113

TEL : 02328-224807/08/09

FAx : 02328-222625

KoDoLI - KoLHAPuRGAT NO. 1172 TO 1178,

AT POST KODOLI,

TAL. - PANHALA,

DIST. - KOLHAPUR - 416 114.

TEL : + 91-1228-224807/08/09

FAx : + 91-2328-222625

PATALgANgAA- 10, MIDC PATALGANGA,

NEAR CASTROL,

DIST. - RAIGADH - 410 220

TEL : 02192-32547

SANgLI PLANTBILTUBE INDUSTRIES LIMITED

L-57, M.I.D.C. KUPWAD,

SANGLI - 416 436

TEL : 0233-2644405-06

gHoTAwADE PLANTGAT NO. 520/ B, SHELAKEWADI,

GHOTAWADE, TALUKA - MULSHI,

DISTRICT - PUNE - 411 011

INDoNESIA

KAWASAN INDUSTRY,

KOTA BUKIT INDAH,

BLOCK D II, 24 - 25 CAMPAKA,

PURWAKARTA, 41181, INDONESIA

TEL : 0062-264-351315-16

FAx : 0062-264-351317

FRANcE

LIEU - DIT “ LE CROUzET”

43140 SAINT-DIDIER-EN-VELAY,

FRANCE

Manufacturing Plant

Customers

REgISTERED oFFIcE: 1102, 11TH FLOOR, SAI CAPITAL BUILDING, SENAPATI BAPAT ROAD, PUNE - 411 016. TEL. : +91-20-2566 2010, FAx : +91-20-2566 0763

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