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Huhtamaki PPL

BSE: 509820|NSE: PAPERPROD|ISIN: INE275B01026|SECTOR: Packaging
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Chairman's Speech (Huhtamaki PPL) Year : Dec '18

Dear Stakeholders,

In our industry, a combination of enabling government legislation and heightened consumer awareness presents an opportunity for industry players to address environmental concerns by improving the post-consumer-use flexible packaging waste management eco-system. In addition, at a national level, the terrific societal awareness brought about by “Swachh Bharat” will add impetus to and help establish a collection, segregation, recycling and/or reprocessing eco-system of requisite scale and scope.

As a responsible flexible packaging industry leader, we have begun to engage on shaping a circular economy for flexible packaging. Currently, the post-consumer-use flexible packaging waste eco-system is inhabited by several types of players such as ragpickers, specialised waste collectors, small-scale recyclers and in urban areas, the local municipality. Over time, this eco-system will undergo a transformation in scale and scope. Our early steps include enrolment in the Extended Producer Responsibility process as part of a larger effort to co-develop innovative and scalable business models for managing post-consumer-use flexible packaging waste.

We are also beginning to communicate to stakeholders that flexible packaging offers many advantages particularly in a country as large and diverse as ours where food and other essential goods travel significant distances. From amongst comparable packaging options, apart from the more conventionally known advantages of protection and convenience, flexible packaging offers one of the lowest life-cycle CO2 footprints and helps reduce food wastage.

I want to thank everyone in HPPL for their contribution. Collectively, our accomplishments in 2018 represent an important stepping stone in our journey of responsible, profitable growth in a business landscape that is evolving continuously. We increased sales to our current set of customers and added quite a few new customers. Our Net Sales at 23,691 MINR grew by 11% over 2017 marking a generally positive business environment. However, our EBIT at 1,527 MINR grew 4.1% over 2017; impacted by frequent increases in prices of key input materials during the first three quarters of 2018.

Our approach to innovation continues to reflect the essentially bespoke nature of our business wherein packaging is custom designed to meet needs of distinct customers. However, we are increasingly laying greater emphasis on creation of intellectual capital in the form of patents. In addition, a focused development programme to bake-in recyclability and sustainability in the packaging structure itself, is yielding the first set of products -multi-layer yet made with variants of the same polyolefin family for ease of recycling. These are designed to help our esteemed customers achieve their respective sustainability ambitions.

Our investment in a state-of-the-art wide-web digital printer gives us a versatile platform on which we can combine agility, customisation and innovation in unique ways. Our efforts at innovation were recognised externally: Dow Packaging Innovation, WorldStar, Economic Times Excellence Polymer, SIES SOP Star Awards and IFCA Star Awards came our way.

In keeping with our focus on collaboration and continuous improvement, we initiated a fresh set of projects to improve agility, customer responsiveness and strengthen our product portfolio of sustainable solutions. We carried out a very rapid integration of Ajanta Packaging that we acquired during the year. This helped us realise growth synergies early and represents a capability that will stand us in good stead in the future as and when we pursue inorganic growth options.

We applied relevant heuristics to key internal processes especially in the HR and the Sales and Operations Planning functions. As part of our HR Roadmap, we implemented a world-class Human Resources Information System; this will increase the efficiency and effectiveness of key processes such as talent management, job levelling, capability building and continuous learning.

Going forward we will grow while focusing on our philosophy of continuous improvement - developing people, operations and business competencies, as part of our ambition to make HPPL a world-class company that helps great products reach more people more easily. We are grateful for the support and recognition our employees, customers, suppliers, shareholders and other stakeholders gave us during 2018.

Source : Dion Global Solutions Limited
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