News Broadcasting
Essel Propack ‘s Global Sales Record a Growth of 11% in The First Quarter Ended March 31, 2006
Global sales – Rs. 2,121 Million
EBIDT – Rs. 513 Million
Net profit – Rs. 187 Million
Mumbai, March 26, 2006 : Essel Propack, the global leader in laminated tubes, recorded a growth of 11% in its consolidated revenues during the First Quarter of 2006 over the corresponding period of last year. The Net Sales during the quarter under consideration touched Rs. 2,121 Million with a PAT of Rs. 187 Million.
Speaking of the First Quarter results, Ashok Goel, the Vice Chairman & Managing Director stated in Mumbai, “Results for the first quarter are in line with our expectations. The seasonal and cyclical swing in volumes & revenue has been anticipated. This is built into our internal projections for the current year.”
The turnaround operations at the acquired units of Arista Tubes, UK, and Essel Propack (UK), formerly Telcon Packaging, are on schedule. The expansion project at Arista, UK, is expected to be completed by the end of April 2006. These units are expected to move towards breakeven levels by June 2006. These units will further contribute to the profitability and margin improvement of the Company from Q3 2006. The start-up units of Russia and Mexico are going through a stabilization and volumes ramp-up mode. Operating costs for the Q1 2005 and Q1 2006 are not comparable because the Q1 2006 results include the operating costs of new Nalagarh plant (Himachal Pradesh, India), Essel Propack (UK), Russia, Mexico and the new US expansion which were not a part of the Q1 2005 results. The coming months are expected to show higher volumes and increased revenues from these new investments. Finance cost and depreciation are higher due to increased loans taken for Nalagarh project, for capacity expansion in USA, Arista (UK) expansion and Essel Propack (UK) acquisition. Also other income such as exchange gains in Q1 2005 has not occurred in Q1 2006. These too have impacted the profits in Q1 2006.
On the short term outlook, Ashok Goel said, “Going forward in the second half of 2006, the loss making operations in Europe are expected to turn around. This should help in the improvement of the margins.” To sustain a double-digit growth, the Company has rolled out a multi-pronged approach. Mini-tubes will spearhead the Company’s penetration into pharmaceutical sector. At the same time, Company is broadening its customer base for laminated tubes by targeting toiletries, haircare and food sectors. Plastic tube is another focus area for the Company aimed at cosmetics industry. Other than the Indian and European markets, the Company has unveiled plans for foray into US market with plastic tubes by setting up a new facility. On the long term perspectives of the Company, Ashok Goel said, “Our earnings guidance remains unaltered for the year 2006. The revenues are expected to grow at 15-18% levels over 2005 and PAT is expected to grow along similar lines.”
On March 29, 2006, Essel Propack had announced its foray into Medical Devices business. Then the Company was in the process of acquiring two companies namely Tacpro Inc., USA, and Avalon Medical Services, Singapore. The entire process of acquisition was completed on April 11, 2006. Revenues amounting to Rs. 360 Million is expected from the Medical Devices business during the period April 12, 2006, to December 31, 2006.
Essel Propack, the largest speciality packaging company in the world, is promoted by Essel Group. Essel Propack, head quartered in India, manufacturers laminated and plastic tubes. The Company provides packaging solutions to toothpaste, pharmaceuticals, cosmetics, food and Industrial sectors all over the world. Recently, the Company forayed into Medical Devices business. The Company has state-of-the-art manufacturing facilities in 14 countries with 24 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
News Broadcasting
CNN-News18 to host Fury in the Gulf conclave on West Asia crisis
Three-hour summit to unpack geopolitical fallout and impact on India
MUMBAI: CNN-News18 is set to host a special three-hour broadcast, Fury in the Gulf – War Conclave, on April 7, aiming to decode the escalating West Asia crisis and its far-reaching implications for India.
Scheduled from 4:00 PM to 7:00 PM, the conclave comes at a time when tensions between Iran and the United States are reshaping global geopolitics and triggering economic uncertainty. With India’s deep energy ties, trade links and large diaspora in the Gulf, the developments carry significant domestic relevance.
Built around the theme ‘Conflict, Consequences, and The Future,’ the programme will feature six curated sessions combining one-on-one interviews and panel discussions. The focus is to cut through the clutter and offer viewers a clearer understanding of the fast-evolving situation.
Key sessions include ‘Diplomacy in Times of War’ featuring Shashi Tharoor, and ‘World After the Iran Conflict’ with voices such as Ram Madhav, Reuven Azar, representatives from the European Union and the Iranian Deputy Envoy. Another session titled ‘Another Dunkirk?’ will bring together K. J. S. Dhillon and Jitin Prasada among others.
CNN-News18 editorial affairs director Rahul Shivshankar said, “In times of war, clarity becomes the most powerful tool. Fury in the Gulf – War Conclave brings together credible voices to address the questions and confusion that arise amid an overwhelming influx of information.”
He added that the initiative is aimed at delivering “facts, perspective, and insight” at a time when misinformation can easily cloud public understanding.
Echoing the sentiment, CNN-News18 CEO– English and business news Smriti Mehra said the conflict marks a defining global moment, with consequences that extend well beyond the region. She noted that the conclave seeks to present the crisis with “depth, nuance and responsibility” so audiences can better grasp its real-world impact.
As geopolitical tensions continue to dominate headlines, the conclave positions itself as an attempt to bring order to the noise, offering viewers a structured, insight-led look at a complex and rapidly shifting global situation.
