Q4 Results: India’s Consumption Slowdown Won’t Impact Essel Propack, Says Chairman
The slowdown in India’s fast moving consumer goods sector will not stop Essel Propack Ltd. from performing better in the financial year 2019-20, its Chairman and Managing Director Ashok Goel said.
Even though India is causing a little heartburn, other markets such as America, Europe, China and Egypt are growing very well, Goel told BloombergQuint. “All these markets have grown between 17-30 percent.”
“As far as domestic growth is concerned, we have re-energised our marketing teams in India, they can't just say that the demand is not there,” Goel said, adding that he expects much better financials for the tube-packaging company in FY20.
Here are the key earnings highlights (Year-On-Year)
- Revenue up 10.4 percent at Rs 693.7 crore
- Net profit up 17 percent at Rs 52.4 crore
- Ebitda up 13 percent at Rs 131.5 crore
- Margin at 19 percent versus 18.5 percent
Watch the full interview here: