In an interview to CNBC-TV18, Ashok Goel, VC & MD of Essel Propack spoke about the results and his outlook for the company.
In an interview with CNBC-TV18, Ashok Goel, VP and MD of Essel Propack said that higher volume has led to revenue growth in this quarter and the company aims to maintain its revenue growth at 15 percent and profit growth at 20 percent.
Essel Propack has acquired 100 percent stake in its European joint venture Essel Deutschland Germany. This will be done with Lamitube Technologies, a wholly owned subsidiary of the company in Mauritius, acquiring 75.1 percent stake in the European firm.
Company hopes to double its tubes capacity in the country, says Ashok Goel, Vice-chairman and Managing Director of Essel Propack.
Revenue degrew for the last fiscal year because of divestment of its flexible packaging business and raw material pass through, said Ashok Goel VC & MD, Essel Propack.
Post this sale, the share of Eni spA group in Hindustan Oil Exploration Company will come down to 22 percent, says P Elango, the company's managing director.
The company undertook a strategic divestment during the quarter under review and the proceeds from the sale were used for debt repayment, which in turn helped in reducing financing cost, says Ashok Goel of Essel Propack
Watch the interview of Ashok Goel, VC & MD at Essel Propack with Latha Venkatesh & Sonia Shenoy on CNBC-TV18, in which he spoke on the outlook of the company.
Ashok Goel, VC & MD of Essel Propack going forward is hopeful of clocking revenues of over Rs 500 crore.
In an interview to CNBC-TV18, Ashok Goel, VC & MD of Essel Propack, said the demand has softened in India, particularly in the FMCG space.
In an interview with CNBC-TV18‘s Ekta Batra and Anuj Singhal, Essel Propack vice chairman and MD Ashok Goel spoke about the state of the business and the outlook going forward.
Ashok Goel, vice chairman & managing director, Essel Propack says the company‘s foray into cosmetics is helping bring in value growth too.
Ashok Goel, vice chairman & managing director, Essel Propack says the company's Poland and Mexico loss-making units have now turned around and it (Poland biz) is likely to post a profit of USD 1 million.
"The numbers are in-line with the guidance that we gave and are seeing a good growth. The EBITDA margins are what we promised to be 18 percent. Profit after tax (PAT) has also improved," says Ashok Goel, MD & vice chairman of the company in an interview to CNBC-TV18.
The Indian rupee has hit a fresh two-year low as it fell to 48 against the dollar in early deals on Wednesday. In an interview to CNBC-TV18, R Chandrasekar, president, Essel Propack spoke about the impact of rupee's decline on Indian companies.
R Chandrasekar, President of Essel Propack joins CNBC-TV18 to discuss what the tie-up of the company, to provide packaging material to Colgate, means in terms of revenues and the plans ahead for the company.
According to Ashok Goel, vice chairman and managing director of Essel Propack, "RPLL, REL are perennially sick companies, and the merger will assure the companies get oxygen to survive. Also, this will add 160 million tubes capacity, which ensures that Essel Propack is on growth path."
Ashok Goel, VC and MD of Essel Propack, in an interview with CNBC-TV18's Latha Venkatesh and Gautam Broker, spoke about the recent happenings in his company and the road ahead.
R Chandrasekar, President of Essel Propack, in an interview with CNBC-TV18’s Latha Venkatesh and Gautam Broker, spoke about the overseas operations in Egypt which faced problems due to the civil disturbances.
In an interview with CNBC-TV18, Ashok Goel, VC and MD of Essel Propack said,"We would be seeking price increase in the range of about 3% - 3.5% from our customers."