Materials

<h2 class="MsoNormal" style="text-align: justify;"><span style="font-size: 12pt; line-height: 107%;">Q1. Could you start by giving us a brief overview of your professional background, particularly focusing on your expertise in the industry?</span></h2><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">I have extensive experience in the corrugated packaging industry, having worked for well-known packaging companies. My expertise lies in B flute, C flute, E flute, and 3, 5, 7 &amp; 9-ply carton production using both auto and manual carton facilities. I am skilled in flexography printing, slotting, slitting, manual and digital screen printing, folder gluer, gum pasting, and bundling.</span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">My experience includes overseeing production, operational excellence, planning, industrial engineering (IE), costing, process improvement, quality management, raw material procurement, and supply chain operations. I played a key role in setting up a packaging facility that generated $24 million yearly revenue while ensuring profitability, sustainability, and business growth. I have also provided consultancy in the corrugated industry through global expert network firms and am recognized as a Subject Matter Expert (SME) in the field.</span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">My expertise spans corrugated project feasibility analysis (including payback period of investment), machine planning and selection, supplier evaluation, business planning, AutoCAD layout design, machine and warehouse setup, production team setup, MIS implementation (50+ reports for data-driven decision-making), product development, production planning, certification work (FSC, PEFC), quality assurance, lab setup and reporting (BST, ECT), inventory management, and marketing team setup. I also specialize in Annual Business Planning (ABP), order profitability, and wastage minimization.</span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">I can assist more in-depth with the following:</span></p><ul style="margin-top: 0cm; text-align: justify;" type="disc"><li class="MsoNormal" style="mso-list: l0 level1 lfo1; tab-stops: list 36.0pt;"><span style="font-size: 14.0pt; line-height: 107%;">Country-wise market analysis &amp; business scopes</span></li><li class="MsoNormal" style="mso-list: l0 level1 lfo1; tab-stops: list 36.0pt;"><span style="font-size: 14.0pt; line-height: 107%;">Corrugation carton box-making plant project planning</span></li><li class="MsoNormal" style="mso-list: l0 level1 lfo1; tab-stops: list 36.0pt;"><span style="font-size: 14.0pt; line-height: 107%;">Feasibility studies (NPV, IRR, payback period, raw material planning, overhead costs)</span></li><li class="MsoNormal" style="mso-list: l0 level1 lfo1; tab-stops: list 36.0pt;"><span style="font-size: 14.0pt; line-height: 107%;">Land area, machine, floor, and warehouse layouts</span></li><li class="MsoNormal" style="mso-list: l0 level1 lfo1; tab-stops: list 36.0pt;"><span style="font-size: 14.0pt; line-height: 107%;">Brand-wise machine evaluation (capacity, power consumption, price)</span></li><li class="MsoNormal" style="mso-list: l0 level1 lfo1; tab-stops: list 36.0pt;"><span style="font-size: 14.0pt; line-height: 107%;">Assessment of key machinery (flexo printing, die-cutting, folder gluer, forklifts, testing lab equipment)</span></li><li class="MsoNormal" style="mso-list: l0 level1 lfo1; tab-stops: list 36.0pt;"><span style="font-size: 14.0pt; line-height: 107%;">Manpower, compliance, and fire safety setup</span></li><li class="MsoNormal" style="mso-list: l0 level1 lfo1; tab-stops: list 36.0pt;"><span style="font-size: 14.0pt; line-height: 107%;">Quality team and lab setup with parameters and testing</span></li><li class="MsoNormal" style="mso-list: l0 level1 lfo1; tab-stops: list 36.0pt;"><span style="font-size: 14.0pt; line-height: 107%;">KPI-driven reporting systems developed</span></li><li class="MsoNormal" style="mso-list: l0 level1 lfo1; tab-stops: list 36.0pt;"><span style="font-size: 14.0pt; line-height: 107%;">Industrial engineering tools (Lean Manufacturing, Kaizen, 5S, TPM, OEE)</span></li><li class="MsoNormal" style="mso-list: l0 level1 lfo1; tab-stops: list 36.0pt;"><span style="font-size: 14.0pt; line-height: 107%;">Raw material management and PCOM setup</span></li><li class="MsoNormal" style="mso-list: l0 level1 lfo1; tab-stops: list 36.0pt;"><span style="font-size: 14.0pt; line-height: 107%;">Capacity Analysis and Production target set, Sales &amp; Marketing Target set</span></li><li class="MsoNormal" style="mso-list: l0 level1 lfo1; tab-stops: list 36.0pt;"><span style="font-size: 14.0pt; line-height: 107%;">Selling price settings with various PCOM</span></li><li class="MsoNormal" style="mso-list: l0 level1 lfo1; tab-stops: list 36.0pt;"><span style="font-size: 14.0pt; line-height: 107%;">Wastage minimization ideas and Implementation</span></li><li class="MsoNormal" style="mso-list: l0 level1 lfo1; tab-stops: list 36.0pt;"><span style="font-size: 14.0pt; line-height: 107%;">Automation technologies in corrugated packaging. </span></li><li class="MsoNormal" style="mso-list: l0 level1 lfo1; tab-stops: list 36.0pt;"><span style="font-size: 14.0pt; line-height: 107%;">Annual Business Plan (ABP) set for Corrugated industry</span></li><li class="MsoNormal" style="mso-list: l0 level1 lfo1; tab-stops: list 36.0pt;"><span style="font-size: 14.0pt; line-height: 107%;">Cost-effective materials sources and Supply chain Hurdles </span></li><li class="MsoNormal" style="mso-list: l0 level1 lfo1; tab-stops: list 36.0pt;"><span style="font-size: 14.0pt; line-height: 107%;">ERP setup for corrugated industry &amp; smart operational ERP ensure</span></li><li class="MsoNormal" style="mso-list: l0 level1 lfo1; tab-stops: list 36.0pt;"><span style="font-size: 14.0pt; line-height: 107%;">Standard benchmark set for overheads for the corrugated Industry</span></li><li class="MsoNormal" style="mso-list: l0 level1 lfo1; tab-stops: list 36.0pt;"><span style="font-size: 14.0pt; line-height: 107%;">Streamline low-profitable corrugated factory to high-profitable </span></li></ul><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">I hold a BSc. in Industrial and Production Engineering (IPE) from Ahsanullah University of Science and Technology (AUST), one of Bangladesh's leading engineering universities. I have been the first industrial engineer in packaging at a renowned company in Bangladesh, and I have worked with management teams from Sri Lanka, China, and India. I am proficient in software like AutoCAD, Power BI, SolidWorks, Visio, Advanced Excel, PowerPoint, Google Sheets, Gantt charts, Easy cargo, Dispatch vehicle tracking software, and ERP systems, which enhance my ability to efficiently manage project execution and operational control.</span></p><p class="MsoNormal" style="text-align: justify;"><strong><span style="font-size: 14.0pt; line-height: 107%;">&nbsp;</span></strong></p><h2 class="MsoNormal" style="text-align: justify;"><span style="font-size: 12pt; line-height: 107%;">Q2. What are the key drivers (e.g., e-commerce, sustainability, FMCG demand) for growth in this corrugated packaging market?</span></h2><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">The corrugated packaging market is experiencing growth due to various factors reflecting broader industry and consumer trends. </span></p><p class="MsoNormal" style="text-align: justify;"><strong><span style="font-size: 14.0pt; line-height: 107%;">E-commerce</span></strong></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">The rise of e-commerce, accelerated by the COVID-19 pandemic, has created a sustained demand for durable, lightweight, and customizable packaging solutions. Online retailers prioritize packaging for efficient shipping and branding. </span></p><p class="MsoNormal" style="text-align: justify;"><strong><span style="font-size: 14.0pt; line-height: 107%;">Sustainability</span></strong></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">Additionally, there is a growing emphasis on sustainability, pushing companies toward eco-friendly packaging. Corrugated packaging is favored for its biodegradability and recyclability. In the fast-moving consumer goods (FMCG) sector, there is a strong demand for corrugated packaging due to its reliability, protective qualities, and suitability for both retail and bulk shipments. </span></p><p class="MsoNormal" style="text-align: justify;"><strong><span style="font-size: 14.0pt; line-height: 107%;">Smart Packaging Solutions</span></strong></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">Technological advancements, such as smart packaging solutions and automation in production, further enhance efficiency and supply chain management. </span></p><p class="MsoNormal" style="text-align: justify;"><strong><span style="font-size: 14.0pt; line-height: 107%;">Urbanization and Industrialization</span></strong></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">Urbanization and industrialization also play a significant role, driving demand for packaged goods and supporting industries like electronics and pharmaceuticals that rely on corrugated packaging for bulk shipments and product protection. </span></p><p class="MsoNormal" style="text-align: justify;"><strong><span style="font-size: 14.0pt; line-height: 107%;">Government Regulations</span></strong></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">Government regulations promoting sustainability and reducing plastic waste are accelerating the shift toward corrugated packaging. The expanding global trade and export markets also require robust packaging solutions, which corrugated materials provide. </span></p><p class="MsoNormal" style="text-align: justify;"><strong><span style="font-size: 14.0pt; line-height: 107%;">Cost-effectiveness of Corrugated Packaging</span></strong></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">Moreover, corrugated packaging's cost-effectiveness compared to alternatives like plastic or wood makes it an attractive choice for businesses looking to reduce expenses. </span></p><p class="MsoNormal" style="text-align: justify;"><strong><span style="font-size: 14.0pt; line-height: 107%;">Development of Garments/Apparel Factories</span></strong></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">Additionally, the booming development of garments/apparels factories in developing countries supports the need for corrugated carton manufacturing plants. </span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">Overall, these factors collectively contribute to the steady growth of the corrugated packaging market, making it an essential segment within the packaging industry.</span></p><p class="MsoNormal" style="text-align: justify;"><strong><span style="font-size: 14.0pt; line-height: 107%;">&nbsp;</span></strong></p><h2 class="MsoNormal" style="text-align: justify;"><span style="font-size: 12pt; line-height: 107%;">Q3. How are AI and machine learning incorporated for accurate demand prediction?</span></h2><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">The incorporation of Artificial Intelligence (AI) and Machine Learning (ML) into corrugated packaging projects has transformed how companies manage demand forecasting, operational efficiency, and supply chain dynamics. </span></p><p class="MsoNormal" style="text-align: justify;"><strong><span style="font-size: 14.0pt; line-height: 107%;">Predict Demand</span></strong></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">AI enables manufacturers to accurately predict demand by analyzing historical data, customer buying patterns, seasonal trends, and external factors such as market shifts or raw material costs. By employing AI-driven predictive models, corrugated packaging companies can better align production schedules with real-time demand, reducing the risk of overproduction or stock shortages. This leads to more efficient use of resources, optimized inventory management, and reduced waste. </span></p><p class="MsoNormal" style="text-align: justify;"><strong><span style="font-size: 14.0pt; line-height: 107%;">Enhance Production Flow</span></strong></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">Machine learning algorithms, on the other hand, continuously learn from operational data and make recommendations for process improvements. They can identify production inefficiencies, detect machine malfunctions before they occur, and provide actionable insights to enhance production flow. </span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">For instance, AI-powered systems can optimize supply chain logistics by predicting potential disruptions, such as shipment delays or material shortages, allowing companies to proactively adjust their sourcing strategies. As a result, incorporating AI and ML into corrugated packaging projects significantly improves project management, reduces operational costs, and ensures that companies remain competitive in a fast-paced, data-driven market.</span></p><p class="MsoNormal" style="text-align: justify;"><strong><span style="font-size: 14.0pt; line-height: 107%;">&nbsp;</span></strong></p><h2 class="MsoNormal" style="text-align: justify;"><span style="font-size: 12pt; line-height: 107%;">Q4. Give an overview of the strategies for managing price volatility in raw materials in the corrugated packaging market.</span></h2><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">Price volatility in raw materials, particularly paper and adhesives, presents a significant challenge for corrugated packaging projects. To manage this volatility effectively, companies must adopt a combination of strategies aimed at stabilizing costs and mitigating risks. </span></p><p class="MsoNormal" style="text-align: justify;"><strong><span style="font-size: 14.0pt; line-height: 107%;">Forward Contracting</span></strong></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">One of the most effective strategies is forward contracting, where companies enter into long-term agreements with suppliers to lock in future prices for critical raw materials. This ensures predictability in material costs and protects the company from sudden price spikes in the market. </span></p><p class="MsoNormal" style="text-align: justify;"><strong><span style="font-size: 14.0pt; line-height: 107%;">Diversifying Supplier Base</span></strong></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">Another key approach is diversifying the supplier base. By sourcing raw materials from multiple suppliers across different regions, companies can reduce their dependency on a single supplier and increase their negotiating power. </span></p><p class="MsoNormal" style="text-align: justify;"><strong><span style="font-size: 14.0pt; line-height: 107%;">Vertical Integration</span></strong></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">Vertical integration is also a viable strategy for larger companies, where they invest in or partner with paper mills to secure a steady supply of raw materials at controlled costs. </span></p><p class="MsoNormal" style="text-align: justify;"><strong><span style="font-size: 14.0pt; line-height: 107%;">Lean Manufacturing Practices</span></strong></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">Lean manufacturing practices, such as minimizing material waste and optimizing production processes, can further help reduce the impact of rising material prices. Recycling initiatives, where scrap or excess materials are repurposed within the production cycle, also provide cost savings. </span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">Together, these strategies ensure that corrugated packaging projects remain financially viable even amidst fluctuating raw material prices.</span></p><p class="MsoNormal" style="text-align: justify;"><strong><span style="font-size: 14.0pt; line-height: 107%;">&nbsp;</span></strong></p><h2 class="MsoNormal" style="text-align: justify;"><span style="font-size: 12pt; line-height: 107%;">Q5. Elaborate on various methods for implementing new manufacturing technologies in the corrugated packaging market.</span></h2><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">It is essential to implement new manufacturing technologies in corrugated packaging projects to improve operational efficiency, reduce production costs, and stay competitive in a changing market. </span></p><p class="MsoNormal" style="text-align: justify;"><strong><span style="font-size: 14.0pt; line-height: 107%;">Conduct Comprehensive Analysis</span></strong></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">The first step in introducing new technologies is to conduct a comprehensive analysis of existing production processes to identify inefficiencies and areas where technology can have the most impact.</span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">For instance, incorporating Internet of Things (IoT) sensors into manufacturing lines can provide real-time data on machine performance. This allows companies to monitor production metrics, anticipate equipment malfunctions, and schedule predictive maintenance, thereby reducing downtime and extending the lifespan of machinery.</span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">Robotics is another technology that can be integrated into the production process to automate repetitive tasks such as material handling, box folding, and palletizing. This not only speeds up production but also ensures consistency and accuracy in output.</span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">Furthermore, advancements in digital and flexographic printing technologies allow for greater customization and faster turnaround times, enhancing the value proposition for customers.</span></p><p class="MsoNormal" style="text-align: justify;"><strong><span style="font-size: 14.0pt; line-height: 107%;">Implement Pilot Projects</span></strong></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">To successfully implement these technologies, companies should start with pilot projects to ensure compatibility with existing systems, followed by employee training programs to equip the workforce with the necessary skills.</span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">In my practical experience, implementing an AGV system from the warehouse to the production floor, using an Auto Splicer to reduce changeover and wastage, employing a double NC cutter arrangement to reduce non-productive time by reducing the carton size, and implementing a stable board strength controlling system through automation in machine and glue making areas can be beneficial. Also, an Auto folder gluer with print and bundling can help reduce cycle time and manpower.</span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">If gas line costs are high, companies can use a jute boiler to save costs. This is particularly set in the vertically integrated garment industry, where garment jute is used in a jute boiler can run the B flute machine/ Double facer area&rsquo;s steam purposes. </span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">Additionally, digital head printing can add value to work on critical styles of printing orders. For factories operating manually with B flute, a chain feeder with a one-color print machine can optimize the machining process, save space, and reduce manpower. Adding a testing lab can provide value if all test arrangements are available, helping in product development and providing solutions to customers. Renowned buyers may also request direct test lab reports.</span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">A phased implementation approach ensures minimal disruption to ongoing production while maximizing the benefits of new technology.</span></p><p class="MsoNormal" style="text-align: justify;"><strong><span style="font-size: 14.0pt; line-height: 107%;">&nbsp;</span></strong></p><h2 class="MsoNormal" style="text-align: justify;"><span style="font-size: 12pt; line-height: 107%;">Q6. Suggest some strategies for managing margin pressure in a competitive market.</span></h2><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">In a competitive market, managing margin pressure in corrugated packaging projects requires a strategic blend of cost control, operational efficiency, and value-added services. </span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">Lean manufacturing principles play a key role in helping companies streamline processes, reduce waste, and optimize resource allocation, ultimately maintaining production efficiency and controlling costs.</span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">Offering differentiated services, such as sustainable or highly customizable packaging, allows companies to command premium prices, mitigating the impact of fluctuating raw material costs.</span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">Securing long-term contracts with suppliers ensures favorable pricing on critical raw materials, helping to stabilize margins. </span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">Automating inventory management, quality control, and production scheduling further reduce labor costs and enhance decision-making. From practical experience, setting smart production cost optimization models (PCOM) while accounting for seasonal variations (dry and rainy seasons) is essential. Analyze and Set Square Meter (SQM) rates based on lot sizes and style changeovers. Keep overhead costs carefully managed and align sales prices accordingly.</span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">To manage raw material scarcity, particularly during paper shortages, source cost-effective local liner materials to meet customer demand while keeping costs low. In-house paper handling ensures fresh stock (not torn), proper inventory maintenance (roll size, GSM, and paper type-wise), and efficient raw material consumption management, broken down by ply (3, 5 ply) or buyer specifications, Quality sales etc. </span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">Focus on operational efficiency by closely monitoring waste types such as torn or 2-ply waste, board waste, and changeover-related waste. Set benchmarks for wastage and track factors like carton wastage by process, side cutting, oversize, and over-GSM wastage. Measure overall equipment effectiveness (OEE) and apply lean manufacturing tools like 5S, Quick Changeover (QCO), TPM culture (Total Productive Maintenance), and first-time-right quality systems. Track and reduce non-productive time (NPT), and implement smart production planning for maximum machine utilization, minimizing changeovers, and ensuring on-time delivery.</span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">Production and dispatch should be aligned with customer requirements (SKU-wise), with multi-skilled operators and optimal utilization of resources. Focus on full truckload dispatching using simulation software to enhance efficiency. Manage customer complaints effectively to maintain satisfaction. Implementing a cost-effective raw material sourcing plan, reducing wastage, cutting process cycle times, and streamlining distribution will all contribute to building a healthy profit margin.</span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">Moreover, focusing on customer retention through consistent quality and reliable delivery ensures steady revenue streams, even in price-sensitive markets. </span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">Combining these strategies allows corrugated packaging companies to navigate margin pressures and remain profitable.</span></p><p class="MsoNormal" style="text-align: justify;"><strong><span style="font-size: 14.0pt; line-height: 107%;">&nbsp;</span></strong></p><h2 class="MsoNormal" style="text-align: justify;"><span style="font-size: 12pt; line-height: 107%;">Q7. If you were an investor looking at companies within the space, what critical question would you pose to their senior management?</span></h2><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">If I were an investor evaluating a corrugated packaging company, my critical question for senior management would be: </span></p><p class="MsoNormal" style="text-align: justify;"><strong><span style="font-size: 14.0pt; line-height: 107%;">How are you aligning your corrugated packaging projects with future sustainability trends and technological advancements, and what steps are you taking to ensure scalability in response to growing market demand?</span></strong></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">This question addresses both the immediate and long-term strategic goals of the company. I would expect senior management to explain how they are adopting eco-friendly materials, minimizing their carbon footprint, and implementing sustainable production practices, all of which are becoming increasingly important in the global packaging industry. </span></p><p class="MsoNormal" style="text-align: justify;"><strong><span style="font-size: 14.0pt; line-height: 107%;">How the company is integrating new technologies&mdash;such as AI, machine learning, and automation&mdash;into their production processes to improve efficiency, reduce costs, and stay competitive</span></strong><span style="font-size: 14.0pt; line-height: 107%;">. </span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 14.0pt; line-height: 107%;">Additionally, the answer should include how the company plans to scale its operations to meet growing demand, particularly in high-growth sectors like e-commerce, Garments Accessories and FMCG. This would provide valuable insights into the company&rsquo;s readiness to adapt to market trends, its innovation capabilities, and its potential for long-term growth in the corrugated packaging sector.</span></p><p class="MsoNormal" style="text-align: justify;">&nbsp;</p><p class="MsoNormal" style="text-align: justify;">&nbsp;</p><p class="MsoNormal" style="text-align: justify;">&nbsp;</p><p class="MsoNormal" style="text-align: justify;">&nbsp;</p>