On a consolidated basis, Essel Propack's reported net profit slipped 6.2% to Rs 49.95 crore on 0.7% fall in net sales to Rs 688.87 crore in Q4 March 2020 over Q4 March 2019.
Consolidated profit before tax dropped 11.3% to Rs 69.66 crore in Q4 March 2020 as against Rs 78.52 crore in Q4 March 2019. Current tax expenses declined 29.9% to Rs 15.69 crore in Q4 March 2020 as against Rs 22.39 crore in Q4 March 2019. The result was announced after market hours on Friday, 22 May 2020.
Q4 FY20 revenue growth was impacted in Africa, Middles East and South Asia (AMESA) (down 9% y-o-y) and East Asia and Pacific (EAP) (down 12.1% y-o-y) regions due to Covid-19 outbreak during the quarter. However, Europe reported strong growth (up 15.6% y-o-y).
Consolidated EBITDA grew 5.5% to Rs 141 crore in Q4 FY20 from Rs 133.70 crore in Q4 FY19. EBITDA margin improved to 20.5% in Q4 FY20 as against 19.3% in Q4 FY19. Consolidated net debt dropped 44.77% to Rs 276 crore in Q4 March 2020 as against Rs 499.80 crore in Q4 March 2019.
Meanwhile, Sudhanshu Vats has been appointed as the managing director (MD) and chief executive officer (CEO) of Essel Propack (EPL).
EPL, 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. EPL's clientele includes marquee global brands in the oral care, beauty, cosmetics and pharmaceutical industries. Increasing presence in emerging markets and further penetration in the fast growing beauty, cosmetics and pharmaceutical segments is expected to accelerate growth going forward.
Shares of Essel Propack fell 0.12% to Rs 170.30 on BSE. The scrip hovered in the range of Rs 169 to Rs 175.75 on the same day.
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