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Packaging material maker eyes new plant after NSE listing
Shri Krishana Overseas (SKL) Limited Managing Director Sonvir Singh makes his remarks during the listing of SKL Limited at the Nairobi Securities Exchange’s (NSE) Small and Medium Enterprises (SME) Market Segment on July 24, 2025.
Photo credit: Francis Nderitu | Nation Media Group
Newly listed packaging materials manufacturer Shri Krishana Overseas Limited (SKL), is set to increase its production capacity by over sevenfold after breaking ground on a new plant in Kisaju, Kajiado County.
The new facility, whose completion is set before the end of this year, is expected to lift SKL’s annual capacity to 22,000 tonnes from the current 3,000 tonnes.
The higher capacity is expected to raise the company’s annual output and potentially lift revenues, with SKL’s turnover having stood at Sh309.8 million in the year ended December 2024, rising from Sh306.3 million in 2023. SKL more than doubled its profit to Sh10.1 million last year from Sh4.2 million previously.
“Our new facility is meant to meet the growing and sustained demand for packaging solutions from horticulture exports, including avocados, herbs, mangoes and vegetables,” said SKL managing director and co-founder Sonvir Singh.
“We also see increased demand in the FMCG sector as more companies establish manufacturing bases in Kenya and East Africa.”
SKL became the first listing on the Nairobi Securities Exchange (NSE) on Thursday, since Homeboyz in 2020, offering 8.7 million shares for trading at Sh5.9 apiece.
The listing values the company, which has a total of 50.5 million shares, at Sh297.95 million.
The founders of the company see the listing as part of a succession plan for the family-owned medium enterprise, even as they see the scope for further growth as a listed company.
“Listing on the NSE will now provide us with a platform to fuel our ambitious growth plans, enhance our visibility among investors, and continue our mission to deliver innovative solutions that meet the growing demand for sustainable packaging,” said SKL Executive Director and co-founder Nirmla Devi.
SKL was established in 2009 as a trading company dealing in food commodities before transitioning into the manufacturing of packaging materials.
The listing of SKL has provided the NSE with a much-needed break from a drought of new listings, with the last addition coming five years ago.
Listing by introduction allows a firm to join a securities/stock exchange without having the obligation of selling shares or raising capital.
The NSE has also recently seen the secondary listing of Satrix MSCI World Feeder exchange-traded fund (ETF) at a price of Sh761 per unit.
The bourse is, however, yet to break the duck on an initial public offering (IPO)-which involves the selling of shares in exchange for capital- since the 2015 listing of the Stanlib real estate investment trust (Reit).
The government is, however, set to end this barren run by selling a stake in the Kenya Pipeline Company (KPC) through the exchange later in 2025.
