Another year has gone by and it is my pleasure to share with you the
achievements of your Company and our plans for the coming year.
The year 2012-13 saw the spectre of recession looming over Europe, USA
and Japan with the resultant slow down impact in India and China. In
India, there were other macro issues too that accentuated the difficult
situation. The result - GDP growth rate of only 5% against the
projected 6.5%, which itself was substantially lower than the rates
achieved in the previous years.
Despite all odds, Essel Propack has done well and is on track with its
growth plans. This is proof of the DNA of the Company - ''Determined to
Deliver'' against all odds. I can proudly say we have never failed to
seize and multiply opportunities for growth - be it Products, Customers
or Markets. The Company has taken conscious decisions that have
triggered business growth both in India and overseas. We are determined
to increase market share in Europe and drive profitability in the
Americas. China is proving to be a big opportunity for us in the
Cosmetics, Personal Care and Pharma categories.
Innovation continues to be our strength. As someone said You can''t
expect to meet the challenges of today with yesterday''s tools and
expect to be in business tomorrow. Our focus on meeting customer
requirements and equipping ourselves to handle evolving trends is our
strength and therefore, a whole new world of opportunities is open to
The Dream to be the world''s Numero Uno supplier of Laminated Tubes
combined with the Desire to realise the dream, has manifested itself as
a ''Determination to Deliver'' - through the 1980''s when we
persevered against all odds to build and dominate the laminated tube
market in India; through the next decade and a half in which we widened
our horizons and became a Global Company; during the last 5 years of
global financial crisis when we sustained and emerged stronger.
This focus, I am confident, will eventually lead us to our Destiny -
Remain the world''s Number One Tube Supplier and Grow.
Throughout this tumultuous but exciting journey, we have continued to
have the unstinted support of our Employees, Customers, Shareholders
and Stakeholders and Members of the Board. We recognise with gratitude
their contribution. A special deserving recognition of our Director,
Mr. K.V. Krishnamurthy who left for his heavenly abode on 16 January,
2013. I would like to thank all for their support over the years and
look forward to their continued support in the future as well.
With best wishes,