Consolidated net sales for Essel Propack for Sep'15 quarter stood at Rs 535.28 crore. OPM stood at21.3% resulting in a in OP of Rs 114.06 crore. Other income stood at Rs 4.58 crore and interest cost and Depreciation stood at Rs 15.69 crore and Rs 30.91 crore, resulting in a PBT before forex and EO of Rs 72.04 crore. There was a forex loss of about Rs 2.50 crore and an EO income of Rs 11.01 crore from profit on sale of Flexible packaging business. After total tax and MI of Rs 20.47 crore and Rs 0.81 crore, consolidated PAT for Sep'15 quarter stood at Rs 59.27 crore.

Excluding the flexible packaging business, on a like to like basis, consolidated net sales for Sep'15 quarter was higher by 1.1% to Rs 535.3 crore. EBIT was up by 16.7% to Rs 83.2 crore. Ebit margin was at 15.5% as compared to 13.5% YoY. Consolidated PAT for Sep'15 quarter was higher by 24.3% to Rs 46.7 crore.

Net Sales from Amesa region de grew by 28% to Rs 208 crore, largely due to sale of Flexible packaging business, that from EAP region was up by 4% to Rs 148.51 crore, from America region, net sales was lower by 6% to Rs 112.11 crore and that from EU region stood at Rs 104.18 crore, up by 12% y.o.y. PBIT from Amesa region for Sep'15 quarter de-grew by 9% to Rs 31.38 crore with PBIT margin at 15.1%, that from EAP region, was up by 36% to Rs 30.13 crore with PBIT margin of 20.3%, from America region, was up by 12% to Rs 16.09 crore with PBIT margin of 14.4%, while EU region the company reported profit of Rs 7.15 crore as compared to a profit at PBIT level of Rs 4.95 crore for Sep'14 quarter. PBIT margin stood at 6.9% as compared to 5.3% for Sep'14 quarter.

Statement from Ashok Goel, Vice Chairman & Managing Director, Essel Propack Limited:

"During the quarter flexible packaging business was divested, in line with our strategic decision to intensify focus on non-oral care opportunities in our tubing business globally including in India. Although the underlying revenue growth is at 6.1%, the impact of RM price reduction pass thru has caused the growth to appear flat. With improved financial health and strong customer engagement, we continue on track with our 20:20:20 mission."

Business Highlights for the Quarter ended Sep 30, 2015:

Europe expansion is on track with strong revenue growth and margin expansion.

EAP non-oral care thrust driving growth.

Americas revenue growth impacted by lower off take from key customer in Mexico and pass thru of RM price reduction.

AMESA revenue performance is impacted by pass thru of RM price reduction. Egypt continued to grow double digit.

Debt to Net worth improved to 0.88 compared to 1.32 last year.

RoE and RoCE improved to 20.3% and 17.8% respectively.

Non oral care share in revenue at 42% for the quarter, improved 30 bps over last year. Non oral care business continues to drive growth.

Non oral care sales continue to grow strongly at 42% y-o-y in China.

External Credit Rating was upgraded to AA- from A(for long term loans/ instruments) and A1+ from A2+ (for short term loans/ instruments)

Consolidated Performance for 6 months ended Sep'15

During the Sep'15 quarter, the company divested Flexible Packaging business and thus, results for 6 months ended Sep'15 are not comparable with results for 6 months ended Sep'14.

Consolidated net sales for Essel Propack for 6 months ended Sep'15 stood at Rs 1109.90 crore. OPM stood at 19.6% resulting in a in OP of Rs 217.92 crore. Other income stood at Rs 9.14 crore and interest cost and Depreciation stood at Rs 34.28 crore and Rs 62.95 crore, resulting in a PBT before forex and EO of Rs 129.83 crore. There was a forex loss of about Rs 2.86 crore and an EO income of Rs 11.01 crore from profit on sale of Flexible packaging business. After total tax and MI of Rs 39.14 crore and Rs 1.16 crore, consolidated PAT for 6 months ended Sep'15 period stood at Rs 97.68 crore.

Excluding the flexible packaging business, on a like to like basis, consolidated net sales for Sep'15 quarter was higher by 1.1% to Rs 535.3 crore. EBIT was up by 16.7% to Rs 83.2 crore. Ebit margin was at 15.5% as compared to 13.5% YoY. Consolidated PAT for Sep'15 quarter was higher by 24.3% to Rs 46.7 crore.

Net Sales from Amesa region de grew by 15% to Rs 470.89 crore, largely due to sale of Flexible packaging business, that from EAP region was up by 10% to Rs 282.47 crore, from America region, net sales was lower by 1% to Rs 233.07 crore and that from EU region stood at Rs 197.07 crore, up by 15% y.o.y. PBIT from Amesa region for 6 months Sep'15 period grew by 1% to Rs 67.48 crore with PBIT margin at 14.3%, that from EAP region, was up by 46% to Rs 49.09 crore with PBIT margin of 17.4%, from America region, was up by 17% to Rs 29.26 crore with PBIT margin of 12.6%, while EU region the company reported profit of Rs 12.05 crore as compared to a profit at PBIT level of Rs 6.52 crore for 6 months Sep'14 period. PBIT margin stood at 6.1% as compared to 3.8% for 6 months ended Sep'14 period.

Consolidated Performance for the year ended March 2015

For FY 2015, consolidated net sales have increased by 9% to Rs 2322.96 crore. The sales from AMESA region was up by 12% to Rs 1097.35 crore, EAP region by 7% to Rs 533.82 crore, Americas by 5% to Rs 478.15 crore and Europe by 15% to Rs 358.50 crore.

OPM was up by 40 bps to 17.1%. Thus, OP grew by 12% to Rs 396.24 crore. The PBIT of AMESA inclined by 3% to Rs 133.30 crore with PBIT margin of 12.1%. The PBIT of EAP was down by 15% to Rs 68.75 crore with PBIT margin of 12.9%. The PBIT of Americas inclined by 53% to Rs 48.61 crore with PBIT margin of 10.2%. While EU reported a PBIT profit of Rs 18.58 crore as compared to a loss at PBIT level of Rs 8.79 crore for Mar'14.

Other income was down by 6% to Rs 20.96 crore. Interest cost was down by 2% to Rs 79.36 crore and depreciation was up by 5% at Rs 131.79 crore. There was a forex loss of Rs 5.48 crore as compared to forex loss of Rs 0.39 crore for Mar'14 year. There was an EO income of Rs 5.52 crore of profit on sale of fixed assets as compared to and EO expense of Rs 0.77 crore for Mar'14. After providing total tax of Rs 61.05 crore, PAT before MI was up by 30% to Rs 145.04 crore. MI stood at Rs 4.40 crore after which consolidated PAT for Mar'15 stood at Rs 140.64 crore, up by 30% YoY.

The Board of Directors recommended a dividend of Rs 1.30 per equity share of Rs 2 each