Tube-packaging company Essel Propack has reported a 13.96% increase in consolidated net profit to Rs 45.62 crore for the April-June quarter. It had posted a net profit of Rs 40.03 crore in the same period a year ago. The company’s revenue from operations in the first quarter of the financial year 2020-2021 increased 17.72% year on year to Rs 741.49 crore. In the April-June quarter, the oral care segment revenue grew 10% year on year to Rs 33.78 crore. In its 2019-2020 annual report that was published earlier this year, India’s leading manufacturer of laminated and coextruded tubes said it expects the oral care segment to remain its primary engine of growth in the coming years.
Last year, private equity firm Blackstone entered into a definitive agreement with Ashok Goel Trust to purchase a majority stake in Essel Propack. The company, founded in 1982, is a global leader in laminated tubes. Through its 20 state-of-the-art facilities across 10 countries, employing over 3,158 people, EPL manufactures 7 billion tubes annually. Essel’s clientele includes marquee global brands in the oral care, beauty, cosmetics, and pharmaceutical industries.
Essel Propack said it got strong traction and acceptability for its sustainable offerings by leading global customers. During the quarter, Essel Propack designed recyclable laminate for a key client (leading oral care player) – an industry-first innovation by the company. It worked actively with the client to test the laminate and helped commercialize the product.
Essel Propack’s Platina laminate was also launched in India by a major regional brand while Etain tubes were commercialized for a major oral care brand. Also, Green Maple Leaf laminate was commercialized for a major oral care brand in the US.
The company’s Platina laminates have been further extended to cover the entire tube thickness range, which enables application in various cosmetics segments. Platina laminate is now certified for mechanical recycling and energy recovery as per the Bureau of Indian Standards (BIS) guidelines, Essel Propack said.
Essel Propack’s customers include leading consumer brands such as Colgate, P&G, Unilever, Dabur, Liby, Tom’s, Patanjali, and Weimeizi.