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EBIDT Growth - 11%
Net Profit growth - 13%
JMumbai, April 26, 2006 : Essel Propack, the global leader in laminated
tubes, recorded an encouraging growth of 18% in Net Sales, 11% in
EBIDT and 13% in Net Profit during the Second Quarter of 2006 over
the corresponding quarter of 2005. The Net Sales during the quarter
under consideration touched Rs. 2,316 Million with an EBIDT of Rs.
568 Million and PAT of Rs. 230 Million. The consolidated PAT of
Q2 2006 when compared with the previous sequential quarter ended
March 31, 2006, reflect a growth of 23%.
While announcing the Second Quarter results in Mumbai, Ashok Goel,
the Vice Chairman & Managing Director said, “We have registered
a consistent growth. The performance of Q2 2006 reflect an improvement
over the performance of Q1 2006. With more of new product offerings
and renewed focus on sectors such as Cosmetics and Pharma, we expect
enhanced performance in the time to come.”
In the laminated tube plant at Danville, USA, the capacity expansion
is completed. Development of new customers is in process. This will
be stabilized soon and will start yielding results during the Q4
of 2006. Caps & Closures Division in Danville is ably supporting
the laminated tubes operations. The recently initiated Plastic Tubes
manufacturing unit of Arista Tubes at Danville is in the process
of being set up. This plant will become operational during the Q4
of 2006 and will begin to contribute to the top line of the Company
during in 2007. The operations in Mexico and Colombia have ramped
up volumes and reported improved profitability.
The operations at Arista Tubes, UK, has achieved break-even in
June 2006. Essel Propack (UK), formerly Telcon Packaging, is expected
to achieve break-even in July 2006. The capacity expansion at Arista
Tubes, UK, has been completed during the Q2 of 2006. These units
are expected to contribute to the profitability and margin improvement
of the Company from Q3 2006. German operation is steadily contributing
to the revenues of the Company.
The unit at Egypt has performed as per the expectations. The Indian
operations are also reflecting consistent performance. The performance
of Indian market is directly proportional to the performance of
the Indian FMCG market, which is showing a recovery. The Company
has focused on pharmaceuticals market with Mini-tubes to enhance
its performance in Indian market. Mini-tubes is steadily penetrating
pharma market and gaining ground. Significant performance output
is expected to be evident from the Q1 of 2007.
To accelerate growth in China, the Company is rolling out Mini-tubes
technology into China. The capacities are in place to tap the pharma
market of China. Significant results will be seen during the Q2
of 2007.
The recently acquired Medical Devices companies namely Tacpro Inc.,
USA, and Avalon Medical Services, Singapore, have performed as per
the expectations.
Essel Propack, the largest speciality packaging company in the
world, is promoted by Essel Group. Essel Propack, head quartered
in India, manufacturers laminated and plastic tubes. The Company
provides packaging solutions to toothpaste, pharmaceuticals, cosmetics,
food and Industrial sectors all over the world. Recently, the Company
forayed into Medical Devices business. The Company has state-of-the-art
manufacturing facilities in 14 countries with 24 plants across the
globe. Essel Propack’s stock is listed on the Bombay Stock
Exchange and the National Stock Exchange.
Press contacts :
Mumbai : Ramdas Warrier @ 98209 04179;
Delhi : Chetan Saxena @ 98113 23282
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