- Mitsu Chem Plast is a manufacturer that shapes plastic into the containers, components and hospital-bed parts that other industries depend on - a business built on the idea that packaging is a “fundamental need of society” with no scalable alternative. The company started with a single unit in Tarapur in 1990, acquired the plant and machinery of NOCIL (Reliance) in 2006, and has since expanded to three factories and over 500 product variants. The recurring approach is “Cost Cutting, but no Corner Cutting” - a discipline of value engineering and process optimisation that runs through every product line, from a jerry can to a CPR board.
Business segments
Two engines at different stages - a packaging cash cow that supplies India’s largest chemical and pharma companies, and a healthcare-components brand that is quietly building a global export footprint - both running on the same molding machines.
1. Molded industrial packaging: the container that holds the supply chain together
The company makes the rigid plastic drums, jerry cans, pails and closures that chemical, pharma and food companies use to ship their products - a bulky, low-margin business where proximity to the customer is the real moat.
- Everything from 100 ml to 250 litres - the range spans narrow-mouth and open-top drums, bottles, jars, jerry cans, carboys and injection-molded pails from 500 grams to 20 kg, plus the closures, caps, spouts and measuring cups that go with them.
- Raw-material pass-through - polymers are crude-based, so the company cannot lock in prices for more than about a month; its order book is deliberately kept short because raw-material fluctuations would otherwise destroy margins.
- Exports barely register - at less than 1% of revenue, overseas sales are negligible because the products are bulky and freight costs make them uncompetitive beyond the domestic market.
- A sustainable twist on the pail - the MiEcoPET range, launched in 2024, uses 30-50% less raw material than traditional HDPE containers and incorporates 30-60% recycled PET, targeting lube-oil, edible-oil and FMCG customers who want lower-cost, greener packaging.
- Serves the who’s-who of Indian industry - customers include BASF, Castrol, 3M, Cipla, Parle and Aditya Birla Grasim, with the top 20 clients contributing about three-quarters of the business.
2. Hospital furniture parts (Furnastra): the export-led healthcare bet
Under the Furnastra brand, the company molds head bows, side rails, bed planks and spine boards for hospital beds - a niche where it claims industry leadership in India and is now winning contracts with global medical-equipment groups.
- Patented CPR innovation - the company holds a patent for an inbuilt CPR profile on the back of the head bow, a design feature that turns a standard bed component into an emergency tool.
- X-ray-compatible bed planks - the four-section mattress platform is made from ultra-high-density polyethylene that is lightweight, modular, easy to clean and transparent to X-rays, which matters in intensive-care settings.
- Exports are the growth lever - export revenue grew 144% year-on-year in FY25, with new markets opened in Saudi Arabia, the UAE, Europe, Malaysia and the USA, and a Global Supplier Agreement signed in 2026 with Arjohuntleigh Polska, part of the Arjo Group, one of the world’s top five medical-equipment companies.
- Regulatory credentials that open doors - the division holds ISO 13485 certification for medical-device quality management and CE marking on its spine board, which are prerequisites for selling into regulated healthcare markets.
Manufacturing backbone
Four factories in Maharashtra, running over 51 blow-molding and 22 injection-molding machines, give the company an installed capacity of more than 29,900 metric tonnes a year - and a cost structure that rewards in-house recycling and energy efficiency.
- Four plants, one state - Units I and II are in Tarapur (20,000 and 36,000 sq. ft.), Unit III is the state-of-the-art Khalapur facility commissioned in 2019 (96,000 sq. ft.), and Unit IV, also in Tarapur, is a 60,000 sq. ft. facility for which the company proposed to commence manufacturing operations in January 2026.
- Waste becomes raw material - pinch-off and in-house rejection from the molding process is ground and reused, and the company runs multilayer machines that incorporate post-consumer resin, cutting both material cost and carbon footprint.
- Certified across the board - the integrated management system covers quality (ISO 9001), medical devices (ISO 13485), food safety (ISO 22000), environment (ISO 14001) and occupational health (ISO 45001), plus UN certification for dangerous-goods packaging.
- A depot and a distributor network - a dedicated Hyderabad depot serves South India, while a network of distributors and a regional office in Delhi cover the North, because freight economics demand local reach.
Group structure and partners
A family-run, publicly listed single entity with one not-for-profit subsidiary - and a boardroom that blends three executive directors from the founding family with three independent professionals.
- The company has one wholly owned subsidiary, Mitsu Foundation, a Section 8 not-for-profit incorporated in 2021 to handle CSR activities.
- The three executive directors - Jagdish Dedhia (production), Sanjay Dedhia (marketing) and Manish Dedhia (finance, and who served as President of AIPMA for the year 2023-24) - are supported by three independent directors with backgrounds in chartered accountancy, finance, and compliance.
- Promoter and promoter-group shareholding stood at 32.23% as of March 2026, with the public holding the remaining 67.77%.
- The company has a track record of acquiring plant and machinery from peers - NOCIL (Reliance) in 1990, Shree Rubber Plast in 2016, and Prince Multi Plast in 2017 - to bolt on capacity and know-how.