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Tag: Essel Propack

  • Sudhanshu Vats appointed as Essel Propack CEO & MD

    Sudhanshu Vats appointed as Essel Propack CEO & MD

    MUMBAI: The board of directors of Essel Propack Ltd has appointed ex-Viacom18 boss Sudhanshu Vats as chief executive officer & managing director of the company.  He has also been appointed as additional director of the company effective from 16 April 2020. 

    Vats is also designated as key managerial personnel pursuant to The Companies Act 2013.The company has updated the development in a stock exchange filing. On Tuesday, Viacom18 announced that Vats decided to move on after eight years at the helm. 

    Vats has more than 28 years of industry experience across the FMCG and media sectors. During his tenure at Viacom18, he scaled the business from a mere six to over 54 television channels across more than 80 countries, added three more lines of business and grew revenue by over 4x.

    By building a strong portfolio of direct to consumer digital offerings under the VOOT brand and strengthening data science and analytics capability, he has future-proofed the media company that has been admired for its culture, quality of talent and progressive people policies. Under his leadership, Viacom18 emerged as the fastest growing full-play media organisation in India.

    Prior to joining Viacom18, Vats spent more than 20 years at Unilever in various sales and marketing and general management roles. He left Unilever as the head of Unilever’s laundry business in South Asia and head of the Radiant brand globally. He made Radiant the fastest growing laundry brand in the world with over Euro 500 million turnover. During his long tenure at Unilever, he shaped many popular household brands, most notably Lipton, Vim, Wheel, Surf, Rin, Lifebuoy and Lux. 

    Vats is also the chairman of the National Media and Entertainment Committee of CII (Confederation of Indian Industry), vice president of IBF (Indian Broadcasting Foundation) and Director at BARC (Broadcast Audience Research Council). He is also on the advisory board of a number of NGOs. He holds an MBA from Indian Institute of Management (IIM), Ahmedabad. He received his Bachelor of Technology degree in Mechanical Engineering from National Institute of Technology, Kurukshetra. 

  • Essel Propack ‘s Global Sales cross Rs. 10 Bn for the year ended 31 Dec 2006

    MUMBAI: Essel Propack today announced the un-audited consolidated global results for the year ended 31 December 2006. The Company reported a substantial increase in its global revenues for the year 2006. The sales have crossed Rs. 10 Billion mark (Rs. 10,099 Million) with a net profit close to Rs. 1 Billion (Rs. 985 Million). During the year 2006, the Company’s consolidated global sales registered a growth of 24% over the same period of 2005, while the EBIDTA and net profit grew by 19% and 9% respectively.

     

    The international operations of the Company have contributed 72% (up from 69% in the year 2005) of the consolidated revenue, thus reflecting the trend of increasing overseas growth and consolidation.

     

    The global performance also reflects a growth in sales and net profit of 28% and 10% respectively during Q4 of 2006 over Q4 of 2005.

     

    Announcing the results at Mumbai, Ashok Goel, the Vice Chairman & Managing Director of Essel Propack said, “We have grown steadily in our tube business. Our efforts to leverage EP’s core competencies of plastic processing has begun to pay off with increasing contribution from Medical Devices and Speciality packaging businesses.”

     

    During the year 2006, many steps were undertaken to sustain consistent growth and increase in revenues. One such significant step was to broad-base the business with addition of new product lines. The acquisition of medical devices and speciality packaging business in 2006 were a move in this direction.

     

    R. Chandrasekhar, President, Essel Propack added, “As we progress, during the coming years, the Medical Devices and Speciality Packaging will increasingly contribute to the top and bottom line.”

     

    Speaking about the Speciality Packaging materials business, Ashok Goel said, “The business is well positioned to ride on the increasing need for packaging solutions, fuelled by factors such as India becoming the world manufacturing hub for prescription drugs, the retail boom and therefore the need for convenience packaging. There are further value propositions to up the value chain in Pharma and exports which can be easily tapped into leveraging on EP’s capabilities of extrusion lamination.”

     

    The thrust was also on rapidly expanding the capabilities and footprint with plastic tubes. The existing capacity of the UK plant was expanded. A new green field plant in USA went on stream in December 2006. The expansion and the green field are based on new state-of-the-art technologies, which give better operational flexibilities and more economical costs of operation.

     

    The year 2006 saw additions of new customers from the skin and hair care segments in US. These segments offer an increased value proposition and are complementary to the thrust in plastic tubes. This step has further improved the company’s margins. Further, in certain markets, the company has exited low margin businesses.

     

    During the year, the organisation’s another focus area had been the turnaround of the acquired businesses in UK and the start-ups in Mexico and Russia. By the end of 2006, EP was successful in turning around the laminated tube business in UK and Mexico. The plastic tube business in UK has reached the breakeven levels by end 2006. The Russian business is still evolving and has a good potential. The efforts will continue along the turnaround plan during the coming year.

     

    EP has been successful in opening up new segments in Pharma and sampling with Minitube Technology. This technology has found wide acceptance in Pharma and oral care. Despite continuously expanding capacities, the capacities are fully booked by the end of 2006.

     

    To optimize the resources, EP has been continuously evaluating options to close down facilities with unviable capacities. Moving in this direction, during 2006, the Nepal plant was closed down.

    In 2007, the company will continue to focus on moving the revenue platforms to higher value products, continue the turn around of units, improving the margins further and also improving the returns.

     

    Essel Propack is promoted by Essel Group. Essel Propack, head quartered in India, manufacturers laminated tubes, plastic tubes, medical devices and speciality packaging materials. The Company provides tube packaging solutions to toothpaste, pharmaceuticals, cosmetics, toiletries, food and industrial sectors all over the world. In Medical Devices, the company manufactures cardio-vascular catheters and delivery systems.

    The Speciality Packaging Materials of the company currently caters to the Food and Pharma industry. The Company has state-of-the-art manufacturing facilities in 13 countries with 24 plants across the globe. Essel Propack’s stock is listed on the Bombay Stock Exchange and the National Stock Exchange.

  • Essel Propack ‘s Global Sales Record a Growth of 11% in The First Quarter Ended March 31, 2006

    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

  • Essel Propack enters medical devices; acquires Tacpro Inc and Avalon Medical Services

    Essel Propack enters medical devices; acquires Tacpro Inc and Avalon Medical Services

    MUMBAI: The Subash Chandra promoted — Essel Propack, the largest manufacturer of laminated tubes has acquired 85 per cent stake in Tacpro Inc., USA, and Avalon Medical Services Pte Ltd, Singapore.

    The companies are players in the field of advanced medical device design and development and offer over 100+ years of collective experience in the medical device industry, informs an official release.

    Essel Group chairman Subhash Chandra, while declaring the strategic intent, stated, “I have always held a firm belief close to my heart. Faith in innovation and organized growth. It is by walking this path that Essel Group has reached the position it holds today. Giving birth and nurturing Industries which no one thought would exist.

    “And today, once again Essel has proved that its Faith is as strong as ever before. This is just a humble step towards a brighter morrow. A morrow with endless opportunities, promising future and unlimited growth.”

    While announcing the acquisition in Mumbai, Essel Propack vice-chairman and MD Ashok Goel said, “Medical devices arena is our new and third horizon, after laminated tubes and plastic tubes. Our objective is to leverage our knowledge of polymers and polymer processing so as to add a new dimension to our business. While it offers endless opportunities and potential for growth, it is in sync with our knowledge & capabilities, strengths and core competence of both Essel Propack and Tacpro.”

    Tacpro CEO Nitin Matani said, “This is the coming together of two pioneering entities, with a common objective to leverage the collective strengths for global excellence. This is the first step towards realizing my vision of bringing India to the forefront of the medical device industry. By combining Essel Propack’s resources and expertise in high volume manufacturing, this partnership will also allow us to fulfill that vision by providing expanded services to our global customers.”

    Since its inception, Tacpro is a provider of innovative medical device designs, converting ideas into medical device solutions. The company pioneered as the first full-service provider of high quality medical devices specializing in catheters and delivery systems on the West Coast of USA.

    Essel Propack, Tacpro and Avalon have huge synergies notably the knowledge of polymers & polymer processing and global benchmark technology. On this significant development, Doug Wilkins, Vice President – Operations at Tacpro spoke, “This partnership will enable Tacpro to meet the high quality expectations of the medical device market while continuing on its path to be a worldwide leader in Medical Devices.”

    According to the official release, medical devices is not developed in Asia, which is a thickly populated market and a virtual Greenfield. Figuratively, the global medical devices market size is $ 172.6 billion. Of this, the contract manufacturing comprise $ 16.7 billion. The catheter market alone is about $ 5.7 billion of which the USA has $ 2.3 billion share. The industry growth is estimated at 7 per cent -10 per cent. Tacpro Jeff Kraus said,” This is an awesome opportunity to be able to provide our services to a larger and wider market.”

    The present team at the company, headed by Nitin Matani, the chief executive officer, will continue to manage the operations of the Company, under the guidance of Essel Propack.