Essel Propack Q1FY19 Net Profit grew by 20.5% at Rs. 41.3 crore

Mumbai, July 26, 2018: 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 the quarter ended June 30, 2018.

Business Highlights for the Quarter ended June 30, 2018:

o India business commenced the First phase of commercial production at its new unit in Kamrup, Assam w.e.f. 23rd July 2018

o Revenue growth helped by increased offtake in US & Egypt by key customers and EDG continue to deliver after the integration.

o EAP revenue growth is helped by both oral and non-oral care category. China’s efforts for laminate exports to external customers have materialized in new geographies.

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

“The new unit in Assam is a strategic investment, in-line with our stated objective of ‘go and grow’ with customers. Several of our customers have set up units in Assam and our presence near them will facilitate servicing them better, besides opening up opportunities for developing markets in North-East India and surrounding countries.

The quarter has seen increased offtake from key customers in US, Egypt and Germany. New business pipeline development efforts during last year are beginning to yield results across geographies. The effect of which will be seen beginning next calendar year.

Impact on India revenue due to change in pharma regulations should get over by third quarter of this financial year.”