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.
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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
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