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Q4 Results: India’s Consumption Slowdown Won’t Impact Essel Propack, Says Chairman
Chairman Ashok Goel expects much better financials for the tube-packaging company in FY20.
08 May 2019, 06:46 PM IST ![NDTV Profit](/icons/feather-without-circle.svg)
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![One of Essel Propack’s products. (Source: Essel Propack)](https://media.assettype.com/bloombergquint%2F2019-05%2Fb73a1547-b7e3-4be7-9de9-543c2af25088%2Fcaps_and_closures_image2.jpg?rect=0%2C15%2C476%2C268&auto=format%2Ccompress&w=200)
One of Essel Propack’s products. (Source: Essel Propack)
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:
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