| ‘Global sales – Rs. 8,166 Million; PAT
– Rs. 902 Million Declares Special Dividend of Rs. 12/-
per share
Mumbai, March 14, 2006 : Essel Propack, the global leader in laminated
tubes, today announced the audited consolidated global results for
the year ended December 31, 2005. The Company reported a substantial
increase of 22% in its global revenues for the year 2005. The sales
have exceeded Rs. 8 Billion mark (Rs. 8,166 Million) while the net
profit touched Rs. 902 Million, aggregating a growth of 11.48% over
the same period of 2004. In USD term the growth in sales and net
profit is 26% & 15% respectively. The international operations
of the Company have contributed 69% (up from 65% in the year 2004)
of the consolidated revenue, thus reflecting the trend of increasing
overseas growth.
The Board of Directors of Essel Propack which met today, announced
two major decisions as a part of increasing the shareholder value.
The Board announced a split in the face value of the share. The
Board has recommended to the shareholders a share split from
the present Rs. 10/- per share to Rs. 2/- per share and thereby
reducing the face value of the share. This will go a long way in
enhancing the liquidity of the shares.
Further, considering the cash flow and the continuing robust business
performance, announced a special dividend of Rs. 12/- per share.
The dividend will be subject to the shareholders’ approval
during the AGM proposed on May 6, 2006.
While making the announcements in Mumbai, Ashok Goel, Vice Chairman
& Managing Director said, “The low liquidity of our shares
was always a concern, which we believe will be resolved with this
step.“ Regarding special dividend, he added, “Giving
value to our shareholders is of paramount importance to us”.
Essel Propack, the largest speciality packaging company in the
world, is promoted by Essel Group. Essel Propack, head quartered
in India, manufactures laminated tubes, plastic tubes, speciality
laminates and Caps & Closures. The Company provides packaging
solutions to toothpaste, pharmaceuticals, cosmetics, food and Industrial
sectors all over the world. The Company has state-of-the-art manufacturing
facilities in 13 countries with 21 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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