Essel Propack’s Winning Streak Continues in Q2 FY15

Editor's Synopsis:

Consolidated Results comparison: Q2FY15 vs. Q2FY14:

Þ Income from Operations at Rs. 595.2 crore, up 13.1%

Þ Net profit at Rs. 38.5 crore, up 34.1%

Þ EBITDA margin at 18.0% as against 17.5%

Þ EPS for the quarter ended September 30, 2014 was Rs. 2.45 as against Rs. 1.83 on Rs. 2 face value per share

Þ Non Oral Care Revenue growth at 17.7%

Consolidated Results comparison: H1FY15 vs. H1FY14:

Þ Income from Operations at Rs. 1143.8 crore, up 13.7%

Þ Net profit at Rs. 64.8 crore, up 24.2%

Þ EBITDA margin at 17.1% as against 17.5%

Þ EPS for six months ended September 30, 2014 was Rs. 4.13 as against Rs. 3.33 on Rs. 2 face value per share

Essel Propack Limited (NSE: ESSELPACK, BSE: 500135), a global leader in laminated plastic tubes catering to the FMCG & Pharma space, today announced its financial results for quarter and the half year ended September 30, 2014.

For the quarter ended September 30 2014, the company’s consolidated net profit was up 34.1% at Rs. 38.5 crore compared to Rs. 28.7 crore in the corresponding quarter of last year.

The consolidated revenues for the global operations were up 13.1% at Rs. 595.2 crore, as against Rs. 526.1 crore in the corresponding quarter of the previous year. EBIDTA for the quarter stood at Rs. 106.9 crore up 16.1% compared to Rs. 92.1 crore in the year-ago quarter.

For the six months period ended September 30, 2014, the company’s consolidated revenues rose 13.7% to Rs. 1143.8 crore whereas the consolidated net profit was up at Rs. 64.8 crore as compared to Rs. 52.2 crore in H1FY14, an increase of 24.2%. EBIDTA for H1FY15 rose 11.2% to Rs. 195.5 crore compared to Rs. 175.8 crore in the same period last fiscal.

Statement from Ashok Goel, Vice Chairman & Managing Director, Essel Propack Limited:

“We are on track with our vision for sustained profitable growth. This quarter we commenced operations of our plant in East China to cater to non-oral care business. This half year has seen Europe Region turn around as expected. Our building blocks are in place to sustain the pace going forward.” he added.

Business Highlights for the quarter ended September 30, 2014:

o Africa Middle East & South Asia (AMESA) operations continued the strong momentum with revenue growing by 19.7% during the quarter.

o Europe grew by 26.9% in Revenues with Operating margin improving by 850 bps.

o EAP has recovered and grown sequentially by 24.2% in revenue and operating margin improved by 520 bps sequentially.

o Americas Operating margin expanded by 370 bps over last year with the ongoing ramp up of new contracts.

o Non Oral Care Revenue share increased from 41% to 42% compared to previous year.

About Essel Propack Ltd:

Essel Propack, part of the USD 2.4 billion Essel Group, with turnover of over USD 350 million, is the largest specialty packaging global company, manufacturing laminated plastic tubes catering to the FMCG and Pharma space. Employing over 2600 people representing 25 different nationalities, Essel Propack functions through 24 state of the art facilities in eleven countries, selling more than 6 billion tubes and continuing to grow every year.

Holding Oral Care market share of 33% in volume terms globally, Essel Propack is the world’s largest manufacturer with units operating across countries such as USA, Mexico, Colombia, Poland, Germany, Egypt, Russia, China, Philippines, Indonesia and India. These facilities cater to diverse FMCG and Pharma brands that include cosmetics, personal care, pharmaceutical, food and oral care, offering customized solutions through continuously pioneering first-in-class innovations in materials, technology and processes.