ESSEL PROPACK LIMITED

ESSEL PROPACK LIMITED
Regd. Office : P.O. Vasind, Taluka Shahapur, Dist. Thane, Maharashtra - 421 604.
Q4 FY11- Essel Propack Signs off a Year of Growth
Results Q4 March 2011 – A snapshot
India
` in Million
Quarter ended
Mar 2011
Quarter ended
Mar 2010
Sales 1040 847
Operating Profit 123 135
Net Profit 85 36
EP delivered yet another quarter of strong performance with
the India operation registering Net profit of ` 85 Mn. for Q4
FY-11 growing 136% over the previous year. The Sales for the
quarter is ` 1040, grew by 22.8% compared to last year.
For consolidated operations the growth momentum continues in EP with Sales & Operating Profits registering a robust y.o.y
Results Q4 March 2011 – A snapshot
Consolidated
` in Million
Quarter ended
Mar 2011
Quarter ended
Mar 2010
Sales 3487 3007
Operating Profit 303 230
Net Profit 84 87
growth of 16% and 31.6% respectively during Q4 FY-11. The
Net Profit for the quarter at ` 84 Mn. (PY- ` 87 Mn.) remains
flat. The previous year Net Profit of ` 87 Mn. was benefitted by
exchange gain of ` 29 Mn. on account of currency volatility.
Besides during the current quarter there has been exceptional
charge and impact of increased Indian interest rates.
The previous accounting year being a 15 month period and including the financial result of Medical Device business (since divested in
December 2009) the full year result for FY-11 are not strictly comparable. On comparable basis, the FY-11 performance of continuing
packaging business is given below.
` In Million
Particulars
Twelve months ended
31st March (Unaudited)
Growth
2011 2010
Net Sales / Income from Operations 14119 12042 17.2%
Profit from Operations before Other Income, Interest and Exceptional items 1348 992 35.9%
Net Interest (585) (662) (11.6%)
Profit/(Loss) from ordinary activities before Tax 808 469 72.3%
Net Profit / (Loss) for the Period 461 201 129.4%
EPS 2.94 1.28 129.4%
Overall, EP has delivered a strong profitable growth in FY-11, though not at the expected levels.
The highlights of this quarter are:
‣ Robust double digit top line growth in the AMESA (24%), and Americas (22%) regions
‣ Operating margin improved by 90 bps over last year, helped by improved operating efficiencies in spite of the ongoing sharp
increase in raw material prices (pending pass through)
‣ Commissioning of focused manufacturing & supply chain capability for pharma tubes at Murbad, India
‣ Completed doubling the capacity of Plastic tube in Wada, India
‣ Introduced for the first time in India, fast turnaround Digital printing for non oral care value added laminated tubes
‣ Improved customer servicing capability in the flagship oral care category by setting up on-site printing facility in Goa, India
helping to improve supply chain
‣ Relocated and expanded Egypt unit to serve as a hub for servicing in a large way the Middle East & Africa demand and made
entry into pharma and non oral care category
‣ The plastic tube facility in US which was located 5 miles away from the existing facility of laminated tubes operation in Danvile,
Virginia has been successfully relocated into the laminated tubes facility. The integration of operations under one roof will bring
in operational synergies helping to improve productivity, cutting establishment costs and driving economics of scale
‣ Relocated Mexico facility to create space for pursuing new growth opportunities in value added non oral care category
‣ The laminated tube facility in Germany is successfully diversifying into high value niche cosmetic category leveraging new
printing and tube capability added recently
As key customers consolidate their supply chain, Essel Propack is positioning itself as a reliable long-term partner with a one stop shop
for quality and value added supplies on a large scale, thereby improving its profitability and competitiveness in the markets. The new
capabilities created in Q4 FY-11 are expected to drive the growth during the next year.
With its strategic presence in customer value chain, global reach, value added innovations, reorganized marketing management and
strong operational focus, EP is geared to sustain long-term growth.

Packaging
Business
Twelve
Months
ended
31st March
GLOBAL OPERATIONS
UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR QUARTER AND YEAR ENDED 31st MARCH, 2011
(` in Lakhs)
Particulars
Quarter ended 31st March
Year ended
31st March
15 Months
ended
31st March
(See Note 3)
2010 2011 2010 2011 2010
{See Note
No. 3 }
Unaudited Unaudited Unaudited Audited
Unaudited
120420 1 a. Net Sales / Income from Operations 34871 30067 141192 167879
206 b. Other Operating Income 95 58 359 342
120626 Total 34966 30125 141551 168221
2 Expenditure :
1114 a. (Increase)/ Decrease in Stock in Trade 409 365 1114 434
54290 b. Consumption of Raw Materials 16472 13713 66605 73338
19492 c. Employees cost 5262 4916 21605 31567
10507 d. Depreciation 2601 2556 10622 13287
25306 e Other Expenditure 7195 6275 28128 34977
110709 Total 31939 27825 128074 153603
9917 3 Profit from Operations before Other Income, Interest and
3027 2300 13477 14618
Exceptional items (1-2)
912 4 Other Income 132 223 373 1193
10829 5 Profit before Interest and Exceptional items (3+4) 3159 2523 13850 15811
486 6 Gain/(Loss) on Foreign Exchange Fluctuations(Net) (50) 290 204 (75)
(6624) 7 Interest (1452) (1318) (5847) (8413)
4691 8 Profit / (Loss) after Interest but before Exceptional items (5+6+7) 1657 1495 8207 7323
- 9 Exceptional items (130) (67) (130) 3016
4691 10 Profit / (Loss) from ordinary activities before Tax (8+9) 1527 1428 8077 10339
(2465) 11 Tax expenses (618) (493) (3322) (3857)
2226 12 Net Profit / (Loss) from ordinary activities after tax (10+11) 909 935 4755 6482
41 13 Share of Profit from Associate company 39 19 167 136
(260) 14 Minority Interest (111) (84) (316) (626)
2007 15 Net Profit / (Loss) for the Period (12+13+14) 837 870 4606 5992
3131 16 Paid-up Equity Share Capital (Face Value Rs. 2/-each ) 3131 3131 3131 3131
17 Reserves excluding Revaluation Reserves as per Balance Sheet of
72955
previous accounting year
18 Earnings per Share (EPS)
1.28 Basic & Diluted EPS before Extraordinary items (not annualised) 0.53 0.56 2.94 3.83
1.28 Basic & Diluted EPS after Extraordinary items (not annualised) 0.53 0.56 2.94 3.83
19 Public Share Holding
- Number of Shares (Lakhs) 640.12 643.32 640.12 643.32
- Percentage of Shareholding 40.88% 41.08% 40.88% 41.08%
NOTES:
1 The above Consolidated results were reviewed by the Audit Committee and approved by the Board of Directors of the Company in its meeting held on 4th
May 2011.
2 Interest of Rs.1452 Lakhs is net of receipt of Rs.508 Lakhs for the quarter ended 31st March 2011.
3 The previous accounting year was a 15 month period ending 31st March, 2010 which also included financial results of Medical Device operations divested
in December 2009. Hence the results for the current year ended 31st March 2011 are not strictly comparable. The performance of continuing packaging
business, on comparable basis is as under :
(` In Lakhs)
Particulars
Twelve months ended 31st March
(Unaudited)
2011 2010
Growth
Net Sales / Income from Operations 141192 120420 17.2%
Profit from Operations before Other Income, Interest and Exceptional items 13477 9917 35.9%
Profit / (Loss) from ordinary activities before Tax 8077 4691 72.2%
Net Profit / (Loss) for the Period 4606 2007 129.5%
4 Exceptional item relates to manufacturing facility relocation expenses in AMERICAS Region net of certain retentions relating to the Medical Devices
business being realised.

5 The Management has identified geographical segment as the primary segment pursuant to Accounting Standard 17 for purposes of segment reporting
of the Company and its Subsidiaries, Joint Ventures and Associates.These geographical segments have been identified considering the differential risk
and returns, the Corporate organization structure and the internal financial reporting system. The relevant segment results for the Quarter and Year ended
31st March, 2011 are set out below :
a. AMESA : Africa, Middle East and South Asia include operations in India, Nepal and Egypt.
b. EAP : East Asia Pacific includes operations in China and Philippines.
c. AMERICAS : includes operations in United States of America, Mexico and Colombia
d. EUROPE : includes operations in Germany, United Kingdom, Poland and Russia.
1 Segment Revenue
Particulars Quarter ended 31st March Year ended 31st
March
15 Months ended
31st March
(See Note 3)
2011 2010 2011 2010
Unaudited Unaudited Unaudited Audited
A. AMESA 17265 13920 67308 68613
B. EAP 6006 6174 27921 30604
C. Americas 8240 6755 33128 53176
D. Europe 3455 3276 13194 15765
E. Unallocated - - - 63
Net Sales / Income From Operations 34966 30125 141551 168221
2 Segment Results
Profit / (Loss) before interest and tax from Each Segment
A. AMESA 2381 1758 9468 8958
B. EAP 1033 1798 6761 10035
C. Americas 221 (635) 214 1061
D. Europe (341) (545) (2203) (4521)
E. Unallocated 5090 301 8227 7775
Total 8384 2677 22467 23308
Gain/ (Loss) on Foreign Exchange Fluctuations (Net) (50) 290 204 (75)
Less : Inter Segmental elimination (5225) (154) (8617) (7497)
Segment Result 3109 2813 14054 15736
Add: Interest Income 508 553 2096 3334
Less: Interest Expenses (1960) (1871) (7943) (11747)
Add/(Less): Exceptional Item (130) (67) (130) 3016
Total Profit from Ordinary Activities Before Tax 1527 1428 8077 10339
3 Capital Employed
(Segment Assets - Segment Liabilities)
A. AMESA 59599 55854 59599 46317
B. EAP 21383 24281 21383 25305
C. Americas 18157 19172 18157 18697
D. Europe 16852 15183 16852 16496
E. Unallocated 24038 10127 24038 25504
Less : Inter Segmental elimination (59338) (48712) (59338) (57034)
Total 80691 75905 80691 75285
Figures of the previous period have been regrouped wherever considered necessary.
For Essel Propack Limited
Place : Mumbai
Date : 4th May 2011
Ashok Kumar Goel
Vice-Chairman & Managing Director

INDIA STANDALONE
UNAUDITED STANDALONE FINANCIAL RESULTS FOR QUARTER AND YEAR ENDED 31st MARCH, 2011
Quarter ended
31 March
Year ended
31 March
(` in Lakhs)
Fifteen months
ended 31 March
(See Note 3)
Particulars
2011 2010 2011 2010
Unaudited Unaudited Unaudited Audited
1 a. Net Sales / Income from Operations 10401 8470 40523 41322
b. Other operating income 336 259 1311 1587
2 Expenditure:
a. (Increase) / Decrease in Stock in trade 223 (61) (207) 54
b. Consumption of Raw Materials 4810 3846 18779 18640
c. Employees Cost 1021 980 4320 4610
d. Depreciation 636 565 2431 2889
e. Other Expenditure 2822 2048 9973 10407
Total 9512 7378 35296 36600
3 Profit from Operations before Other Income, Interest and 1225 1351 6538 6309
Exceptional Items (1-2)
4 Other Income 537 - 1969 2504
5 Profit before Interest and Exceptional Items (3+4) 1762 1351 8507 8813
6 Gain/(Loss) on Foreign Exchange Fluctuations (Net) (81) (357) (274) (1253)
7 Interest (net) (580) (523) (1962) (3135)
8 Profit after Interest but before Exceptional Items (5+6+7) 1101 471 6271 4425
9 Exceptional Items - - - (10)
10 Profit / (Loss) before Tax for the period (8+9) 1101 471 6271 4415
11 Tax Expenses (249) (113) (1796) (960)
12 Net Profit / (Loss) after tax for the period (10+11) 852 358 4475 3455
Paid-up equity share capital (Face Value ` 2/- each) 3131 3131 3131 3131
Reserves excluding Revaluation reserves as per Balance Sheet
of previous accounting year
13 Earnings Per Share (EPS)
Basic and Diluted EPS before Extraordinary items (not
annualised)
57972
0.54 0.23 2.86 2.21
Basic and Diluted EPS after Extraordinary items (not
0.54 0.23 2.86 2.21
annualised)
14 Public shareholding
- Number of Shares (Lakhs) 640.12 643.32 640.12 643.32
- Percentage of Shareholding 40.88% 41.08% 40.88% 41.08%
15 Promoters and Promoters Group Shareholding
a) Pledged / Encumbered (Lakhs) 77.16 443.42 77.16 443.42
Number of Shares
- Percentage of shares (as a % of the total shareholding
of Promoter and Promoter Group) 8.33% 48.06% 8.33% 48.06%
- Percentage of shares (as a % of the total Share Capital
of the Company) 4.93% 28.32% 4.93% 28.32%
b) Non-encumbered
Number of Shares (Lakhs) 848.73 479.27 848.73 479.27
- Percentage of shares (as a % of the total shareholding
of Promoter and Promoter Group) 91.67% 51.94% 91.67% 51.94%
- Percentage of shares (as a % of the total Share Capital
of the Company) 54.19% 30.60% 54.19% 30.60%
NOTES:
1 The above results were reviewed by the Audit Committee and approved by the Board of Directors of the Company in its meeting held on 4 May, 2011.
The Statutory Auditors have carried out a Limited Review of the results for the quarter and year ended 31 March, 2011.
2 None of the Subsidiaries / Associates / JVs have been consolidated in the above results.
3 Since the previous accounting year was a 15 month period ending 31 March, 2010, the results for the current year ended 31 March, 2011 are not strictly
comparable. The performance of the Company on comparable basis for 12 months ending is as under :
(` In Lakhs)
Particulars Twelve months ended Growth
31 March, 2011 31 March, 2010
Unaudited
Unaudited
Net Sales / Income from Operations 40523 33842 19.7%
Profit from Operations before Other Income, Interest and Exceptional items 6538 5213 25.4%
Profit / (Loss) from ordinary activities before Tax 6271 4020 56.0%
Net Profit / (Loss) for the Period 4475 3229 38.6%
4 Interest of ` 580 lakhs is net of income of ` 807 lakhs for the quarter ended 31 March, 2011.
5 Under AS-17, the Company has only one major identifiable business segment viz. Plastic Packaging Material.
6 The number of Investor Complaints at the beginning and pending at the end of the quarter is Nil. No Complaints were received during the quarter.
7 Figures of the previous period have been regrouped wherever considered necessary.
For Essel Propack Limited
Place : Mumbai
Date : 4th May 2011
Ashok Kumar Goel
Vice-Chairman & Managing Director