What IPAK does

IPAK (International Packaging Films Limited) is a Pakistani manufacturer of biaxially oriented polypropylene (BOPP), biaxially oriented polyester (BOPET), biaxially oriented polyethylene (BOPE), and cast polypropylene (CPP) films, serving flexible packaging applications. Founded in 2017 as a greenfield venture and listed on the Pakistan Stock Exchange under ticker IPAK following its April 2024 IPO, the company operates as IPAK Group through wholly-owned subsidiaries including CPAK (Cast Packaging Films), PETPAK (BOPET films at 42,000 tons per annum), Global Packaging Films (GPAK), Universal Packaging, Universal Coating Films, and Dubai-based IPAK Connect Packaging Materials Trading FZCO. Its product portfolio spans Transparent, Metalized, White, Cavitated/Pearlized, and Matte films used across food and beverages (chips, biscuits, confectionery, bakery, ice cream), pharmaceuticals, industrial wrapping, and label applications. IPAK Group became the largest flexible packaging films producer in Pakistan with approximately 150,000 tons of nameplate capacity by FY2024.

The company's manufacturing platform is anchored in 5-layer BOPP technology using equipment sourced from Bruckner Maschinenbau (Germany), BOBST (UK), and KAMPF (Germany), enabling production of films from 8 to 50 microns thick, with new BOPP and BOPET plants partially powered by solar energy. The Tajdid sustainability umbrella encompasses two product sub-brands: zeest (films from Post-Consumer Recycled, Post-Industrial Recycled, and bioPP-based resin) and tarmim (Alox-coated BOPP/BOPET, thin-gauge high-barrier metallized, and mono-material solutions aimed at improving recyclability). IPAK holds Pakistan's first ISCC PLUS certification, plus OK Recycled, SEDEX SMETA 4-Pillar, and IMS certifications, and participates in CEFLEX and RecyClass initiatives.

IPAK operates a direct B2B sales motion with quote-based pricing targeting brand owners and converters in the food, pharma, industrial, and label verticals. It exports to 38 countries and runs international sales through the Dubai subsidiary covering GCC, Middle East, Africa, Far East, Europe, US, and Latin America. For the nine months ended March 2025, the company reported revenue of Rs 26.04 billion (approximately USD 90-93 million for that period) with 66% year-over-year growth and a sevenfold increase in profit to Rs 704 million. Credit rating from VIS is A/A-1 with Stable outlook. Headcount sits in the 501-1000 range, and SAP RISE was deployed with Abacus as the operational ERP backbone across the group.

Name

IPAK

Legal name

International Packaging Films Limited

Website

https://ipak.com.pk

Company type

Public

Founded year

2017

Operating status

Operating

Headcount range

501–1,000 employees

Short description

IPAK (International Packaging Films Limited) is Pakistan's largest flexible packaging films manufacturer, producing BOPP, BOPET, BOPE, and CPP films for food, pharmaceutical, industrial, and label customers and exporting to 38 countries across global markets.

Ownership category

akta.pro rank

Product category

Flexible Packaging Films

NAICS

Plastics Packaging Film and Sheet (including Laminated) Manufacturing (326112)

SIC

Unsupported Plastics Film & Sheet (3081)

akta.pro primary industry

Polyolefin Films (PE/PP: Cast, Blown, BOPP) (IMALABAA)

akta.pro secondary industries

Polyester & Nylon Films (PET/BOPET, PA/BOPA) (IMALABAB), Recyclable/Mono-Material Flexible Packaging (PE/PP-Based, Compatibilized Structures) (IMALABAN)

Keywords

• BOPP film manufacturing
• Flexible packaging films
• BOPET film production
• Polypropylene packaging materials
• Sustainable packaging films

Headquarters

HQ city

Lahore

HQ country

Pakistan

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Flexible Packaging Films Manufacturing: IPAK generates revenue through manufacturing and selling BOPP, BOPET, BOPE, and CPP packaging films to diverse industries including food & beverages, pharmaceuticals, and industrial applications. The company exports to 38 countries generating approximately USD 50 million annually. Revenue for nine months ended March 2025 reached Rs 26.04 billion representing 66% year-over-year growth.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels9 records

Core offering

IPAK manufactures biaxially oriented polypropylene (BOPP), biaxially oriented polyester (BOPET), biaxially oriented polyethylene (BOPE), and cast polypropylene (CPP) films in thicknesses from 8 to 50 microns for flexible packaging applications across food and beverage, pharmaceutical, industrial, and label industries. The films are produced using pioneering 5-layer BOPP technology on German and UK manufacturing lines, with subsidiaries CPAK, PETPAK, and GPAK providing additional CPP and BOPET capacity. Sustainably certified product ranges Zeest (recyclate-based) and tarmim (recyclability-engineered) are sold under the Tajdid umbrella to brand owners and converters globally.

Product overview

IPAK (International Packaging Films Limited) is Pakistan's leading manufacturer of flexible packaging films, offering a comprehensive portfolio centered on BOPP, BOPET, BOPE, and CPP films. The core product lines include Transparent, Metalized, White, Cavitated/Pearlized, and Matte Films for food, industrial, and label packaging applications. The company operates under a platform approach with its Tajdid sustainability initiative encompassing two sub-brands: zeest (films from recycled resin including PCR, PIR, and bioPP) and tarmim (engineered films to improve recyclability through mono-material solutions). IPAK Group, including subsidiaries CPAK (Cast Packaging Films), PETPAK (BOPET Films), and GPAK (Global Packaging Films), has become Pakistan's largest flexible packaging films producer.

Differentiator

Problem solved

Functional benefit

Brands

• Tajdid: Sustainability initiative umbrella encompassing environmental responsibility, circular economy principles, and sustainable packaging solutions including Zeest and tarmim product ranges
• Zeest
• tarmim

Products and services

• BOPP Films Biaxially oriented polypropylene films for flexible packaging applications including printing, lamination, and food packaging. Produced using pioneering 5-layer BOPP technology in thicknesses from 8 to 50 microns and supplied to brand owners and converters for use in chips/snack foods, biscuits, confectionery, bakery products, ice cream, and label applications.
• BOPET Films (PETPAK) Biaxially oriented polyester films produced at the PETPAK Films (Private) Limited subsidiary using an 8700mm film line from Bruckner (Germany), with operational nameplate capacity of 42,000 tons per annum. Films are offered in various grades and thickness between 8 to 50 microns for flexible packaging applications.
• CPP Films Cast polypropylene films for flexible packaging applications across food, commercial, and industrial uses, manufactured by subsidiary Cast Packaging Films Limited (CPAK). Offers heat-sealable properties suitable for lamination and packaging structures.
• BOPE Films Biaxially oriented polyethylene films offered as part of IPAK's comprehensive packaging films portfolio, providing a complementary material option for flexible packaging converters and brand owners.
• tarmim Sustainable Films Sustainable films sub-brand aimed at improving recyclability of flexible packaging, including Alox Coated BOPP/BOPET, Thin Gauge High Barrier Metallized, 10 micron Print Web, Cold Seal Release, High Yield White Pearlized for Wrap Around Label, and Heat Sealable Peelable BOPET films. Targets brand owners seeking mono-material and recyclability-engineered packaging solutions.
• zeest Recyclate Films Sustainable film range consisting of films produced from recyclate resin including Post Consumer Recycled (PCR), Post Industrial Recycled (PIR), and bioPP based films. Food-contact approved recycled content enables household flexible packaging applications with circular-economy alignment.

Quantifiable outcome

• 66% revenue growth in nine months ended March 2025
• +3 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered core, major and minor.

• SAP / AbacuscoreTechnology or IntegrationIPAK implemented RISE with SAP in partnership with Abacus, marking their third successful collaboration. SAP cloud ERP supports IPAK's operational efficiency and growth objectives.
• World Packaging Organisation (WPO)coreStrategic or Co-development PartnerFlexPac Association of Pakistan partnered with WPO in October 2023 to revolutionize packaging through a training program dedicated to Circular Economy, Recycling, and sustainability. IPAK participated in this initiative with WPO Global Ambassador Kishan Singh visiting the Lahore plant.
• CEFLEXcoreStrategic or Co-development PartnerIPAK joined CEFLEX, a European consortium dedicated to enhancing the performance of flexible packaging in the circular economy by developing guidelines and implementing sustainability initiatives.
• RecyClasscoreStrategic or Co-development PartnerIPAK became a member of RecyClass, a non-profit initiative dedicated to enhancing recyclability of plastic packaging and promoting traceability of plastic waste and recycled content across Europe.
• International Finance Corporation (IFC) & Centre of Excellence in Responsible Business (CERB)majorStrategic or Co-development PartnerIPAK joined the IFC-CERB Climate2Equal program reaffirming commitment to sustainability, diversity, and women's empowerment. Program aims to foster climate resilience, gender equity, and collective impact.
• TasdeeqminorOthersIPAK partnered with Tasdeeq to verify backgrounds of workers, tenants, and vendors, joining their network of over 12,000 businesses.
• University of Engineering and Technology (UET) Lahore - Department of Polymer & Process EngineeringmajorStrategic or Co-development PartnerIPAK partnered with UET Lahore to establish Pakistan's first Chair on Polymer Sustainability and Circularity, marking a landmark industry-academia collaboration.
• AMI (Applied Market Information)minorStrategic or Co-development PartnerIPAK participated in AMI's Biax Films conference in Brussels discussing South Asian Biax Films market and sustainability initiatives. Muhammad Ali Mirza spoke at AMI's Speciality Packaging Films event in Bangkok, Thailand.

Scale indicators12 records

Recent moves10 records

Expansion highlights7 records

Direct peers

• Vacmet India Limited: Indian BOPET, BOPP and metallized films manufacturer with significant global capacity. Comparable to IPAK in offering both polyester and polyolefin films with focus on packaging and label applications.
• Polyplex Corporation Limited: Manufacturer of BOPET and polypropylene films with manufacturing in India, Thailand, Turkey and the US. Direct comparable to IPAK in BOPET films business and global film converter customer base.
• Uflex Limited: India's largest flexible packaging company offering BOPP, BOPET, CPP films and converting solutions. Comparable to IPAK in offering an integrated flexible packaging films portfolio with global manufacturing footprint and sustainability initiatives.
• Cosmo Films Limited: India-based global manufacturer of BOPP, BOPET and CPP films serving packaging, label and industrial applications. Closely comparable to IPAK in product portfolio, geographic reach across 100+ countries, and focus on specialty and sustainable films.
• SRF Limited: Indian manufacturer of BOPET films, packaging films and technical textiles with global operations. Directly comparable to IPAK's PETPAK BOPET business in specialty polyester film grades used for flexible packaging.
• Taghleef Industries: Global BOPP and CPP films producer with plants in Europe, Middle East, Africa, Americas and Asia. Comparable to IPAK in offering a full BOPP/CPP portfolio with strong focus on sustainable and recyclable film solutions for converters.
• Manucor S.p.A. Italian BOPP films producer with plants in Italy and Spain serving European packaging converters. Comparable to IPAK as a specialty BOPP producer focused on quality, metallization and sustainable film grades.
• Jindal Poly Films Limited: One of India's largest producers of BOPP, BOPET and CPP films for packaging and industrial applications. Direct comparable to IPAK in product mix and capacity scale across polyester and polyolefin film technologies.

Emerging players

• Oben Group (Oben Holdings): Latin American BOPP and CPP films producer with manufacturing across the Americas. Comparable to IPAK in core BOPP/CPP offering and focus on flexible packaging converters.

Others

• Bruckner Maschinenbau: German manufacturer of biaxially oriented film production lines, supplying IPAK's BOPP and BOPET equipment. Included as an adjacent ecosystem player and key technology supplier for IPAK's manufacturing platform.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/IPAK_FILMS
• Facebookfacebook.com/IPAKFILMS
• LinkedInlinkedin.com/company/ipakpk
• Instagraminstagram.com/ipakfilms

Compliance10 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about IPAK