Growth came on the back of strong 10.4% growth on year in revenues at Rs 693.7 cr
Essel Propack reported a 16.9% year-on-year (yoy) growth in net profit at Rs 52.4 crore for the March quarter of fiscal 2019. The growth, according to the largest specialty packaging global company, came on the back of strong 10.4% growth on year in revenues at Rs 693.7 crore, posted by Americas, Europe and East Asia Pacific (EAP) regions. The growth in revenue was contributed by both oral and non-oral care categories. Earnings before interest, taxes, depreciation and amortisation (ebitda) margin stood at 19.3% as compared to 18.7% last year.
Ashok Goel, chairman and managing director, Essel Propack Ltd, said, "Overall the year ended with revenue growth from all regions except Africa, Middle East and South Asia (AMESA) due to India pharma regulation impact and lower offtake by key customers. Non-oral care continues to be the focus area with winning new contracts in the US, Europe as well as EAP regions. The company had created capabilities during recent years which has begun yielding results and will continue in the following year(s). Strong cash flow resulted in a substantial reduction in the net debt."
The manufacturer of laminated tubes catering to the fast moving consumer goods (FMCG) and pharma sectors, said that Egypt continued to post strong revenue growth for the quarter at 27.7% (18.0% on constant currency basis) helped by both oral and non-oral care category. While growth for the EAP revenue was helped by strong non-oral care category, margin improvement in Europe came primarily from higher volume and product mix.
"Business development efforts are yielding results in the region with US and Mexico commercialising the new business. We expect the traction to continue," Essel Propack said in its earnings statement to the exchanges.
Employing over 3,158 people representing 25 different nationalities, Essel Propack functions through 20 state-of-the-art facilities and in 11 countries, selling circa 7 billion tubes and continuing to grow every year. The manufacturing units are located in countries such as USA, Mexico, Colombia, Poland, Germany, Egypt, Russia, China, Philippines and India. These facilities cater to diverse categories that include brands in beauty and cosmetics, pharma and health, food, oral and home, offering customised solutions through continuously pioneering first-in-class innovations in materials, technology and processes.
STRONG NUMBERS
- Growth came on the back of strong 10.4% growth on year in revenues at Rs 693.7 cr
- Strong cash flow resulted in a substantial reduction in the net debt
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "Essel Propack")
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}