In 1981, K K Jhunjhunwala set out to establish a paper mill with a unique twist — using sugarcane waste (bagasse) instead of traditional wood pulp. Inspired by his father’s sugarcane mill, he saw the potential of creating paper sustainably. Thus, ‘Yash Papers’ was born.

Starting as a small paper mill, K K carved a niche in the low-grammage (GSM) kraft market over the next 15 to 20 years. Despite challenges, he kept the business going. Following heart surgery in the mid-90s, K K began to rethink his future.

He aspired to hand over the business to his sons and travel the world on his motorbike. However, neither son was interested at the time.

Ved Krishna, K K’s elder son, had little interest in joining the family business, having seen his father’s struggles. He was pursuing sports management in London when K K, facing challenges and unable to sell the business, convinced him to return to India in 1999 to help.

The company was in turmoil when Ved joined — falling revenues, unhappy workers, and chaotic operations. “It took me two to three years to put things back in order,” Ved recalls. He then expanded into specialised paper grades, manufacturing products like sugar sachets.

In 2010, just as the company secured a major project, Ved lost his father. He also made what he calls “fatal mistakes” that nearly led to the company’s closure. Thanks to the goodwill K K had built, suppliers and buyers supported them during this turbulent period.

Ved realised he was emulating his father’s leadership style and made a pivotal change. “I was trying to be like my father, which he never wanted.” This reflection led him to focus more on ecological sustainability, aligning the company with his vision of leaving behind a cleaner planet.

In 2014, Ved shifted the company to compostable packaging solutions. Yash Papers began producing biodegradable tableware and packaging under the brand ‘CHUK’, using sugarcane residue (bagasse). Today, their clients include Haldiram’s, Rebel Foods, and Café Coffee Day.

The company also ventured into flexible packaging for products like potato chips and chocolate wrappers. With heavy investment in R&D, Yash Papers scaled up, achieving a turnover of Rs 200 crore by FY 2018.

In 2019, the company rebranded as ‘Pakka Limited’, symbolising “packaging with a soul”. “We moved from being a pulp and paper company to being a sustainable packaging company,” says Ved. Pakka touched a turnover of Rs 414 crore in 1023-24.

Pakka continued its legacy of sustainability, established in 1995 with a rice husk-powered energy plant. Today, it operates an 8.5 MW biomass-based energy plant, sourcing raw materials and fuel locally. The company recovers 95% of cooking chemicals and recycles solid waste!

At its Ayodhya factory, Pakka has a production capacity of 50,000 tonnes per year and plans to increase it to 80,000 tonnes. The company is also expanding globally, with a new factory in Guatemala, which will have a production capacity of 1,30,000 tonnes.

Ved aims for Rs 1,400 crore in revenue by 2025, with continued investments in R&D. “I’m here to create and scale products to make a significant impact towards a cleaner planet,” he says.