India Paper Cup Market - Industry Trends and Forecast to 2031

List of Tables

India paper cup market is expected to reach USD 3,362,609.24 thousand by 2031 from USD 1,771,361.93 thousand in 2023, growing at a CAGR of 8.5% in the forecast period of 2024 to 2031.

Market Segmentation:

India Paper Cup Market, By Product (Hot Paper Cups and Cold Paper Cups), Capacity (150 To 350 ml, Up To 150 ml, 350 To 500 ml, and Above 500 ml), Wall Type (Single-Wall Paper, Double-Wall Paper, Corrugated Ripple Paper Cups, and Others), Color (Single Colored and Multi-Colored), Product Category (Standard and Customized), Usage (Single Use and Reusable), Pattern (Plain and Printed), By Application (Beverages and Food), End-Use (Commercial and Household/Residential), Distribution Channel (Retail Sales and Direct Sales), Country (India) - Industry Trends and Forecast to 2031.

Overview of the India Paper Cup Market Dynamics

Drivers
Stringent government regulations and initiatives aimed at reducing the use of plastics
Growing food and beverage industry with rising number of QSRs
Changing consumer preferences towards sustainable and recyclable products
Restraints
Cost and price sensitivity associated with paper cups
Limited heat resistance and durability
Opportunities
Ongoing research and development in materials and manufacturing processes
Increasing preference for customization and personalization of cups
Challenges
Issue associated with waste management
Challenges posed by substitute products

Market Players:

Some of the major key players operating in the India paper cup market are:

ISHWARA
Leetha Group
Rachana Kraft
Sri Lakshmi Polypack
EGS Industries.
Kafkaindia
Neeyog
Paricott India Papercup Pvt Ltd.
Arp Cups A Brand Of (Heartbro Hygiene Private Limited)
Pinnacle Packs
Sri Vinayaka Scoring
Octane Ecowares Private Limited
SANDEEP PLASTIC INDUSTRIES
Aaradhya Disposal Industries Pvt. Ltd.
MrPaperCup
Flamingo Paper Packs
Shri Banke Bihari Polymers
PIRSQ
JALLAN POLYPACK INDIA PVT LTD
Zircon Paperware Pvt. Ltd
ARPAN FP
ITC Limited
GLOBAL SOURCING

1 INTRODUCTION 13

1.1 OBJECTIVES OF THE STUDY 13
1.2 MARKET DEFINITION 13
1.3 OVERVIEW OF THE INDIA PAPER CUP MARKET 13
1.4 LIMITATIONS 15
1.5 MARKETS COVERED 15

2 MARKET SEGMENTATION 18

2.1 MARKETS COVERED 18
2.2 GEOGRAPHICAL SCOPE 19
2.3 YEARS CONSIDERED FOR THE STUDY 19
2.4 CURRENCY AND PRICING 19
2.5 DBMR TRIPOD DATA VALIDATION MODEL 20
2.6 MULTIVARIATE MODELLING 23
2.7 PRIMARY INTERVIEWS WITH KEY OPINION LEADERS 24
2.8 DBMR MARKET POSITION GRID 25
2.9 MARKET APPLICATION COVERAGE GRID 26
2.10 VENDOR SHARE ANALYSIS 27
2.11 SECONDARY SOURCES 28
2.12 ASSUMPTIONS 29

3 EXECUTIVE SUMMARY 30

4 PREMIUM INSIGHTS 33

4.1 PESTLE ANALYSIS 34
- 4.1.1 POLITICAL FACTORS 34
- 4.1.2 ECONOMIC FACTORS 35
- 4.1.3 SOCIAL FACTORS 35
- 4.1.4 TECHNOLOGICAL FACTORS 35
- 4.1.5 ENVIRONMENTAL FACTORS 35
- 4.1.6 LEGAL FACTORS 36
4.2 PORTER'S FIVE FORCES 37
- 4.2.1 THREAT OF NEW ENTRANTS 37
- 4.2.2 THREAT OF SUBSTITUTES 38
- 4.2.3 BARGAINING POWER OF BUYERS 38
- 4.2.4 BARGAINING POWER OF SUPPLIERS 38
- 4.2.5 COMPETITIVE RIVALRY 38

4.3 CLIMATE CHANGE SCENARIO 39
- 4.3.1 ENVIRONMENTAL CONCERNS 39
  - 4.3.1.1 RESOURCE AVAILABILITY AND RAW MATERIALS 39
  - 4.3.1.2 CONSUMER PREFERENCES AND REGULATIONS 39
  - 4.3.1.3 TECHNOLOGICAL INNOVATIONS 39
- 4.3.2 SUPPLY CHAIN DISRUPTIONS 39
  - 4.3.2.1 CONSUMER BEHAVIOUR AND BRAND PERCEPTION 39
  - 4.3.2.2 WASTE MANAGEMENT AND RECYCLING 40
- 4.3.3 INDUSTRY RESPONSE 40
- 4.3.4 GOVERNMENT'S ROLE 40
- 4.3.5 ANALYST RECOMMENDATION 40
4.4 IMPORT EXPORT SCENARIO 41
4.5 LIST OF POTENTIAL CUSTOMERS 42
4.6 PRICING ANALYSIS 44
4.7 PRODUCTION CONSUMPTION ANALYSIS 45
4.8 ESTIMATED PRODUCTION CAPACITY OVERVIEW 46
4.9 SUPPLY CHAIN ANALYSIS 47
- 4.9.1 OVERVIEW 47
  - 4.9.1.1 RAW MATERIAL SOURCING 47
  - 4.9.1.2 MANUFACTURING PROCESS 47
  - 4.9.1.3 PRINTING AND PACKAGING 47
  - 4.9.1.4 SUPPLY CHAIN OPERATIONS 47
  - 4.9.1.5 DISTRIBUTION TO END USERS 47
  - 4.9.1.6 WASTE MANAGEMENT AND RECYCLING 47
  - 4.9.1.7 REGULATORY COMPLIANCE 48
  - 4.9.1.8 TECHNOLOGY AND INNOVATION 48
  - 4.9.1.9 RISK MANAGEMENT AND SUSTAINABILITY 48
- 4.9.2 LOGISTIC COST SCENARIO 48
- 4.9.3 IMPORTANCE OF LOGISTICS SERVICE PROVIDERS 49
4.10 TECHNOLOGICAL ADVANCEMENTS BY MANUFACTURERS 50
4.11 VENDOR SELECTION CRITERIA 51
- 4.11.1 QUALITY STANDARDS 52
- 4.11.2 MANUFACTURING CAPACITY AND CAPABILITY 52
- 4.11.3 COST AND PRICING 52
- 4.11.4 SUPPLY CHAIN AND LOGISTICS 52
- 4.11.5 SUSTAINABILITY AND ENVIRONMENTAL PRACTICES 52
- 4.11.6 REPUTATION AND TRACK RECORD 52
- 4.11.7 CUSTOMER SERVICE AND SUPPORT 52
- 4.11.8 FINANCIAL STABILITY AND BUSINESS ETHICS 52

4.12 RAW MATERIAL COVERAGE 53
- 4.12.1 WOOD PULP 53
- 4.12.2 COATING AND LAMINATING MATERIALS 53
- 4.12.3 PRINTING INKS AND ADDITIVES 53
- 4.12.4 TRANSPORT AND LOGISTICS 53
- 4.12.5 RECYCLED CONTENT 53
- 4.12.6 ALTERNATIVE MATERIALS 53

5 REGULATION COVERAGE 54

5.1 ENVIRONMENTAL REGULATIONS 54
5.2 FOOD SAFETY STANDARDS 54
5.3 PACKAGING AND LABELING REQUIREMENTS 54
5.4 WASTE MANAGEMENT AND RECYCLING 54
5.5 SUSTAINABLE PRACTICES AND CERTIFICATIONS 54

6 MARKET OVERVIEW 55

6.1 DRIVERS 57
- 6.1.1 STRINGENT GOVERNMENT REGULATIONS AND INITIATIVES AIMED AT REDUCING USE OF PLASTICS 57
- 6.1.2 GROWING FOOD AND BEVERAGE INDUSTRY WITH RISING NUMBER OF QSRS 57
- 6.1.3 CHANGING CONSUMER PREFERENCES TOWARDS SUSTAINABLE AND RECYCLABLE PRODUCTS 58
6.2 RESTRAINTS 59
- 6.2.1 COST AND PRICE SENSITIVITY ASSOCIATED WITH PAPER CUPS 59
- 6.2.2 LIMITED HEAT RESISTANCE AND DURABILITY 59
6.3 OPPORTUNITIES 60
- 6.3.1 ONGOING RESEARCH AND DEVELOPMENT IN MATERIALS AND MANUFACTURING PROCESSES 60
- 6.3.2 INCREASING PREFERENCE FOR CUSTOMIZATION AND PERSONALIZATION OF CUPS 61
6.4 CHALLENGES 62
- 6.4.1 ISSUES ASSOCIATED WITH WASTE MANAGEMENT 62
- 6.4.2 CHALLENGES POSED BY SUBSTITUTE PRODUCTS 62

7 INDIA PAPER CUP MARKET, BY PRODUCT 64

7.1 OVERVIEW 65
7.2 HOT PAPER CUPS 66
7.3 COLD PAPER CUPS 67

8 INDIA PAPER CUP MARKET, BY CAPACITY 68

8.1 OVERVIEW 69
8.2 150 TO 350 ML 70
8.3 UP TO 150 ML 70
8.4 350 TO 500 ML 70
8.5 ABOVE 500 ML 70

9 INDIA PAPER CUP MARKET, BY WALL TYPE 71

9.1 OVERVIEW 72
9.2 SINGLE-WALL PAPER CUPS 73
9.3 DOUBLE-WALL PAPER CUPS 73
9.4 CORRUGATED RIPPLE PAPER CUPS 73
9.5 OTHERS 73

10 INDIA PAPER CUP MARKET, BY COLOR 74

10.1 OVERVIEW 75
10.2 SINGLE COLORED 76
10.3 MULTI-COLORED 76

11 INDIA PAPER CUP MARKET, BY PRODUCT CATEGORY 77

11.1 OVERVIEW 78
11.2 STANDARD 79
11.3 CUSTOMIZED 79

12 INDIA PAPER CUP MARKET, BY USAGE 80

12.1 OVERVIEW 81
12.2 SINGLE USE 82
12.3 REUSABLE 82

13 INDIA PAPER CUP MARKET, BY PATTERN 83

13.1 OVERVIEW 84
13.2 PLAIN 85
13.3 PRINTED 85

14 INDIA PAPER CUP MARKET, BY APPLICATION 86

14.1 OVERVIEW 87
14.2 BEVERAGES 88
14.3 FOOD 89

15 INDIA PAPER CUP MARKET, BY END-USE 90

15.1 OVERVIEW 91
15.2 COMMERCIAL 92
- 15.2.1 BY CATEGORY 92
15.3 HOUSEHOLD/RESIDENTIAL 94

16 INDIA PAPER CUP MARKET, BY DISTRIBUTION CHANNEL 95

16.1 OVERVIEW 96
16.2 RETAIL SALES 97
16.3 DIRECT SALES 98

17 INDIA PAPER CUP MARKET: COMPANY LANDSCAPE 99

17.1 COMPANY SHARE ANALYSIS: INDIA 99

18 SWOT ANALYSIS 100

19 COMPANY PROFILES 101

19.1 ITC LIMITED 101
- 19.1.1 COMPANY SNAPSHOT 101
- 19.1.2 REVENUE ANALYSIS 101
- 19.1.3 PRODUCT PORTFOLIO 102
- 19.1.4 RECENT DEVELOPMENT 102
19.2 PARICOTT INDIA PAPERCUP PVT LTD. 103
- 19.2.1 COMPANY SNAPSHOT 103
- 19.2.2 PRODUCT PORTFOLIO 103
- 19.2.3 RECENT DEVELOPMENT 104
19.3 EGS INDUSTRIES 105
- 19.3.1 COMPANY SNAPSHOT 105
- 19.3.2 PRODUCT PORTFOLIO 105
- 19.3.3 RECENT DEVELOPMENTS 105
19.4 LEETHA GROUP 106
- 19.4.1 COMPANY SNAPSHOT 106
- 19.4.2 PRODUCT PORTFOLIO 106
- 19.4.3 RECENT DEVELOPMENTS 107
19.5 OCTANE ECOWARES PRIVATE LIMITED 108
- 19.5.1 COMPANY SNAPSHOT 108
- 19.5.2 PRODUCT PORTFOLIO 108
- 19.5.3 RECENT DEVELOPMENT 109
19.6 AARADHYA DISPOSAL INDUSTRIES PVT. LTD. 110
- 19.6.1 COMPANY SNAPSHOT 110
- 19.6.2 PRODUCT PORTFOLIO 110
- 19.6.3 RECENT DEVELOPMENT 110
19.7 ARP CUPS A BRAND OF (HEARTBRO HYGIENE PRIVATE LIMITED) 111
- 19.7.1 COMPANY SNAPSHOT 111
- 19.7.2 PRODUCT PORTFOLIO 111
- 19.7.3 RECENT DEVELOPMENT 112
19.8 ARPAN FP 113
- 19.8.1 COMPANY SNAPSHOT 113
- 19.8.2 PRODUCT PORTFOLIO 113
- 19.8.3 RECENT DEVELOPMENT 113
19.9 FLAMINGO PAPER PACKS 114
- 19.9.1 COMPANY SNAPSHOT 114
- 19.9.2 PRODUCT PORTFOLIO 114
- 19.9.3 RECENT DEVELOPMENT 116
19.10 GLOBAL SOURCING 117
- 19.10.1 COMPANY SNAPSHOT 117
- 19.10.2 PRODUCT PORTFOLIO 117
- 19.10.3 RECENT DEVELOPMENT 117
19.11 ISHWARA 118
- 19.11.1 COMPANY SNAPSHOT 118
- 19.11.2 PRODUCT PORTFOLIO 118
- 19.11.3 RECENT DEVELOPMENT 118
19.12 JALLAN POLYPACK INDIA PVT LTD 119
- 19.12.1 COMPANY SNAPSHOT 119
- 19.12.2 PRODUCT PORTFOLIO 119
- 19.12.3 RECENT DEVELOPMENT 119
19.13 KAFKAINDIA 120
- 19.13.1 COMPANY SNAPSHOT 120
- 19.13.2 PRODUCT PORTFOLIO 120
- 19.13.3 RECENT DEVELOPMENT 121
19.14 MRPAPERCUP 122
- 19.14.1 COMPANY SNAPSHOT 122
- 19.14.2 PRODUCT PORTFOLIO 122
- 19.14.3 RECENT DEVELOPMENT 122
19.15 NEEYOG 123
- 19.15.1 COMPANY SNAPSHOT 123
- 19.15.2 PRODUCT PORTFOLIO 123
- 19.15.3 RECENT DEVELOPMENT 124
19.16 PINNACLE PACKS 125
- 19.16.1 COMPANY SNAPSHOT 125
- 19.16.2 PRODUCT PORTFOLIO 125
- 19.16.3 RECENT DEVELOPMENT 126
19.17 PIRSQ 127
- 19.17.1 COMPANY SNAPSHOT 127
- 19.17.2 PRODUCT PORTFOLIO 127
- 19.17.3 RECENT DEVELOPMENT 127
19.18 RACHANA KRAFT 128
- 19.18.1 COMPANY SNAPSHOT 128
- 19.18.2 PRODUCT PORTFOLIO 128
- 19.18.3 RECENT DEVELOPEMENT 129
19.19 SANDEEP PLASTIC INDUSTRIES 130
- 19.19.1 COMPANY SNAPSHOT 130
- 19.19.2 PRODUCT PORTFOLIO 130
- 19.19.3 RECENT DEVELOPMENT 130
19.20 SHRI BANKE BIHARI POLYMERS 131
- 19.20.1 COMPANY SNAPSHOT 131
- 19.20.2 PRODUCT PORTFOLIO 132
- 19.20.3 RECENT DEVELOPMENT 132
19.21 SRI LAKSHMI POLYPACK 133
- 19.21.1 COMPANY SNAPSHOT 133
- 19.21.2 PRODUCT PORTFOLIO 133
- 19.21.3 RECENT DEVELOPMENT 133
19.22 SRI VINAYAKA SCORING 134
- 19.22.1 COMPANY SNAPSHOT 134
- 19.22.2 PRODUCT PORTFOLIO 134
- 19.22.3 RECENT DEVELOPMENT 134
19.23 ZIRCON PAPERWARE PVT. LTD 135
- 19.23.1 COMPANY SNAPSHOT 135
- 19.23.2 PRODUCT PORTFOLIO 135
- 19.23.3 RECENT DEVELOPMENT 135

20 QUESTIONNAIRE 136

21 RELATED REPORTS 140

LIST OF TABLES

TABLE 1 SOME OF THE POTENTIAL KEY CUSTOMERS FOR PAPER CUPS IN INDIA ARE LISTED BELOW- 42
TABLE 2 COMPANIES - ESTIMATED PRODUCTION CAPACITY OVERVIEW 46
TABLE 3 INDIA PAPER CUP MARKET, BY PRODUCT, 2022-2031 (USD THOUSAND) 66
TABLE 4 INDIA PAPER CUP MARKET, BY TYPE, 2022-2031 (MILLION UNITS) 66
TABLE 5 INDIA HOT PAPER CUPS IN PAPER CUP MARKET, BY CAPACITY, 2022-2031 (USD THOUSAND) 66
TABLE 6 INDIA HOT PAPER CUPS IN PAPER CUP MARKET, BY WALL TYPE, 2022-2031 (USD THOUSAND) 66
TABLE 7 INDIA COLD PAPER CUPS IN PAPER CUP MARKET, BY CAPACITY, 2022-2031 (USD THOUSAND) 67
TABLE 8 INDIA COLD PAPER CUPS IN PAPER CUP MARKET, BY WALL TYPE, 2022-2031 (USD THOUSAND) 67
TABLE 9 INDIA PAPER CUP MARKET, BY CAPACITY, 2022-2031 (USD THOUSAND) 70
TABLE 10 INDIA PAPER CUP MARKET, BY CAPACITY, 2022-2031 (MILLION UNITS) 70
TABLE 11 INDIA PAPER CUP MARKET, BY WALL TYPE, 2022-2031 (USD THOUSAND) 73
TABLE 12 INDIA PAPER CUP MARKET, BY WALL TYPE, 2022-2031 (MILLION UNITS) 73
TABLE 13 INDIA PAPER CUP MARKET, BY COLOR, 2022-2031 (USD THOUSAND) 76
TABLE 14 INDIA PAPER CUP MARKET, BY COLOR, 2022-2031 (MILLION UNITS) 76
TABLE 15 INDIA PAPER CUP MARKET, BY PRODUCT CATEGORY, 2022-2031 (USD THOUSAND) 79
TABLE 16 INDIA PAPER CUP MARKET, BY PRODUCT CATEGORY, 2022-2031 (MILLION UNITS) 79
TABLE 17 INDIA PAPER CUP MARKET, BY USAGE, 2022-2031 (USD THOUSAND) 82
TABLE 18 INDIA PAPER CUP MARKET, BY USAGE, 2022-2031 (MILLION UNITS) 82
TABLE 19 INDIA PAPER CUP MARKET, BY PATTERN, 2022-2031 (USD THOUSAND) 85
TABLE 20 INDIA PAPER CUP MARKET, BY PATTERN, 2022-2031 (MILLION UNITS) 85
TABLE 21 INDIA PAPER CUP MARKET, BY APPLICATION, 2022-2031 (USD THOUSAND) 88
TABLE 22 INDIA PAPER CUP MARKET, BY APPLICATION, 2022-2031 (MILLION UNITS) 88
TABLE 23 INDIA BEVERAGES IN PAPER CUP MARKET, BY TYPE, 2022-2031 (USD THOUSAND) 88
TABLE 24 INDIA FOOD IN PAPER CUP MARKET, BY TYPE, 2022-2031 (USD THOUSAND) 89
TABLE 25 INDIA PAPER CUP MARKET, BY END-USE, 2022-2031 (USD THOUSAND) 92
TABLE 26 INDIA PAPER CUP MARKET, BY END-USE, 2022-2031 (MILLION UNITS) 92
TABLE 27 INDIA COMMERCIAL IN PAPER CUP MARKET, BY CATEGORY, 2022-2031 (USD THOUSAND) 92
TABLE 28 INDIA COMMERCIAL IN PAPER CUP MARKET, BY PRODUCT, 2022-2031 (USD THOUSAND) 93
TABLE 29 INDIA HOT PAPER CUPS IN PAPER CUP MARKET, BY CAPACITY, 2022-2031 (USD THOUSAND) 93
TABLE 30 INDIA COLD PAPER CUPS IN PAPER CUP MARKET, BY CAPACITY, 2022-2031 (USD THOUSAND) 93
TABLE 31 INDIA HOUSEHOLD/RESIDENTIAL IN PAPER CUP MARKET, BY PRODUCT, 2022-2031 (USD THOUSAND) 94
TABLE 32 INDIA HOT PAPER CUPS IN PAPER CUP MARKET, BY CAPACITY, 2022-2031 (USD THOUSAND) 94
TABLE 33 INDIA COLD PAPER CUPS IN PAPER CUP MARKET, BY CAPACITY, 2022-2031 (USD THOUSAND) 94
TABLE 34 INDIA PAPER CUP MARKET, BY DISTRIBUTION CHANNEL, 2022-2031 (USD THOUSAND) 97
TABLE 35 INDIA PAPER CUP MARKET, BY DISTRIBUTION CHANNEL, 2022-2031 (MILLION UNITS) 97
TABLE 36 INDIA RETAIL SALES IN PAPER CUP MARKET, BY TYPE, 2022-2031 (USD THOUSAND) 97
TABLE 37 INDIA OFFLINE IN PAPER CUP MARKET, BY TYPE, 2022-2031 (USD THOUSAND) 97
TABLE 38 INDIA ONLINE IN PAPER CUP MARKET, BY TYPE, 2022-2031 (USD THOUSAND) 98

LIST OF FIGURES

FIGURE 1 INDIA PAPER CUP MARKET: SEGMENTATION 18
FIGURE 2 INDIA PAPER CUP MARKET: DATA TRIANGULATION 20
FIGURE 3 INDIA PAPER CUP MARKET : DROC ANALYSIS 21
FIGURE 4 INDIA PAPER CUP MARKET: COUNTRY VS REGIONAL ANALYSIS 22
FIGURE 5 INDIA PAPER CUP MARKET: COMPANY RESEARCH ANALYSIS 22
FIGURE 6 INDIA PAPER CUP MARKET: INTERVIEW DEMOGRAPHICS 24
FIGURE 7 INDIA PAPER CUP MARKET: DBMR MARKET POSITION GRID 25
FIGURE 8 INDIA PAPER CUP MARKET: MARKET APPLICATION COVERAGE GRID 26
FIGURE 9 INDIA PAPER CUP MARKET: VENDOR SHARE ANALYSIS 27
FIGURE 10 INDIA PAPER CUP MARKET: SEGMENTATION 32
FIGURE 11 CHANGING CONSUMER PREFERENCE TOWARDS SUSTAINABLE AND RECYCLABLE PRODUCTS IS DRIVING THE GROWTH OF THE INDIA PAPER CUP MARKET IN THE FORECAST PERIOD 33
FIGURE 12 THE HOT PAPER CUPS SEGMENT IS EXPECTED TO ACCOUNT FOR THE LARGEST SHARE OF THE INDIA PAPER CUP MARKET IN 2024 AND 2031 33
FIGURE 13 IMPORT EXPORT SCENARIO (USD THOUSAND) 41
FIGURE 14 ESTIMATED PRODUCTION CONSUMPTION 45
FIGURE 15 VENDOR SELECTION CRITERIA 51
FIGURE 16 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES OF INDIA PAPER CUP MARKET 56
FIGURE 17 INDIA PAPER CUP MARKET: BY PRODUCT, 2023 65
FIGURE 18 INDIA PAPER CUP MARKET: BY CAPACITY, 2023 69
FIGURE 19 INDIA PAPER CUP MARKET: BY WALL TYPE, 2023 72
FIGURE 20 INDIA PAPER CUP MARKET: BY COLOR, 2023 75
FIGURE 21 INDIA PAPER CUP MARKET: BY PRODUCT CATEGORY, 2023 78
FIGURE 22 INDIA PAPER CUP MARKET: BY USAGE, 2023 81
FIGURE 23 INDIA PAPER CUP MARKET: BY PATTERN, 2023 84
FIGURE 24 INDIA PAPER CUP MARKET: BY APPLICATION, 2023 87
FIGURE 25 INDIA PAPER CUP MARKET: BY END-USE, 2023 91
FIGURE 26 INDIA PAPER CUP MARKET: BY DISTRIBUTION CHANNEL, 2023 96
FIGURE 27 INDIA PAPER CUP MARKET: COMPANY SHARE 2023 (%) 99