Tubes of wasabi paste fall from a conveyor into a basket on a production line. (Photographer: Tomohiro Ohsumi/Bloomberg)

Essel Propack Expects 15% Revenue Growth This Year

Essel Propack Ltd. expects its global revenue to grow 15 percent in the year ended March 2019 on account of an increase in demand.

“FY19 would be far superior to the previous year, as an uptick in demand is seen across the globe,” Chairman Ashok Goel told BloombergQuint in an interview.

The company’s financials in the March quarter were affected mainly because of unexpectedly weak performance in the European market, Goel said, adding that it was a one-off as the manufacturer of packaging material failed to meet the required timeline for some businesses.

Other Highlights From The Conversation:

  • Expects good growth from India, especially from the pharmaceuticals business.
  • A new plant in Assam to be commissioned this year.
  • Non-oral care segment to grow faster over the next five years, with all return ratios improving.
  • Will continue to focus on debt reduction; no fundraising plan as of now.
  • Made strategic investments this year and have enough headway to leverage the balance sheet.

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Watch the full conversation here: