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Renewed Energy Expanded Playfield Essel Propack Limited Renewed Energy Expanded Playfield Annual Report 2014-15 CONTENT 02 About Our New Logo 04 Chairman’s Message 06 Vice-Chairman & Managing Director’s Message 09 Expanded Playfield 10 Renewed Energy 12 Award Winning Tubes 13 Awards and Accolades 14 Board of Directors 15 Leadership Team 16 Financial Highlights 17 Corporate Information 18 Directors’ Report 45 Management Discussion and Analysis 51 Corporate Governance Report 70 Financial Statements - Standalone 108 Financial Statements - Consolidated Please refer Back Cover for our social media addresses Energy is behind all Growth and Sustenance. The primordial energy unleashed by the Big Bang has been keeping this Universe in spiralling expansion over billions of years. The cover of our Annual Report is inspired by the potential of this unleashed energy. 25 Vice-Chairman & Managing Director’s UNITS Message 12 The huge tube market COUNTRIES beyond the oral care 2800 category, 22 billion a This is the Renewed PEOPLE year in volume, has Energy that is unleashed almost tripled Essel by Essel Propack from its Propack’s Playfield in Extraordinary Value 25 units spread over 12 volume terms and creation for its countries, which is: multiplied it manifold in shareholders value terms. driving Value growth exploding dynamically across categories of The Innovative spirit of for securing leadership Beauty & Cosmetics, the Company that so in newer playfields... Pharma & Health, successfully changed an Food, Home and Oral entire market for oral charming customers care packaging from ...captured in the aluminium to laminated with Extraordinary tubes, is at play again Packaging solutions NEW LOGO introducing to the aligning its 2800 ESSEL PROPACK market an entire New people behind an has given itself Generation of laminated exciting Vision and tubes. Mission of 1 About Our IT BETTER EXPRESSES WHAT New Logo WE STAND FOR Our new identity better expresses what we At Essel Propack we have always strived to deliver the extraordinary. Over stand for as a Company dedicated to bring the last three decades we have grown from being an Indian manufacturer to life extraordinary packaging in a more to becoming a global leader; with a global outreach, international dynamic and relevant fashion than ever relationships and technological resources that make us number one. before. It is important that we express our unique position in the marketplace, verbally and visually. Also, this image should be aligned with our global positioning, and is IT HAS A a key building block of a comprehensive, long-term business strategy. CONTEMPORARY We, therefore, believe that the time is right to signal our extraordinary LOOK FEEL potential in the world of packaging through a revitalisation of our identity Fonts, shapes and colours need to be to the world – our logo. refreshed in order to keep with changing All our 2800 employees actively participated in creating this new logo. times and to provide a more contemporary and modern feel. Our new logo does The new logo forms the letter ‘e’ using five petals representing each of the just that. categories that we serve viz. Beauty & Cosmetics, Pharma & Health, Food, Home and Oral. We have given each of them a vibrant colour which are reproduced below. IT SIGNALS TRANSFORMATION Since our inception, we have evolved to become world leaders with global facilities and an international workforce, spanning verticals. Our new identity projects our transformation and pre-eminent position in This design is a revolutionary new approach the world of laminated plastic tubes. and represents the renewed energy, commitment and aspirations for our Company. The space in between creates a ‘star like halo’ IT TAKES CARE to represent the idea of ‘extraordinary’. OF TECHNICAL CONSIDERATIONS Blue being the brand color of Essel Propack historically, is carried forward here. The Complex logo designs often do not scale down well. Our new logo is technically typeface in this logo has been designed superior, designed to work well across a exclusively in lowercase to make us look wider range of applications with respect to modern, fresh and approachable. print and digital media. 2 All in all, we have a new extraordinary logo, because we are just that. A LOGO THAT REMINDS US WE ARE EXTRAORDINARY EVERY TIME WE SEE IT. A LOGO THAT EXPRESSES WE ARE AHEAD OF TIME AND BETTER THAN EVER. A LOGO THAT INSPIRES US TO GO THAT EXTRA-MILE, EACH AND EVERY TIME. A LOGO THAT SIGNIFIES ESSEL PROPACk’S SAME VALUES AND SAME SPIRIT, WITH NEW POSSIBILITIES AND NEW THINKING ! 3 Chairman’s Message Dear Shareholders, A year has flown by and it is my pleasure to once again share with you details of your Company’s performance and the path we have carved going forward. As most of you are aware, your Company has been delivering consistent returns over the last 4 years and is firmly on the growth path. For the financial year ended 31st March 2015, we have sold about 6.5 billion tubes; our Revenues are at ` 23.23 billion - a growth of 9.2 % over the last year and Net Profit is ` 1.4 billion, a growth of 30% over the last year. As noted Russian-American writer Ayn Alissa Rand wrote “ The ladder of success is best climbed by stepping Success is set for ourselves. on the rungs of opportunity.” contagious. For us The positive business At Essel Propack, we have tried and availed of every opportunity at Essel Propack, scenario for us as to retain our position as one it is renewed a Company, in an of the top global players in the laminated tube space. Over the energy, renewed economy where last 3 years, the Company’s focus commitment and performance is on “Multiplying the Products and Markets”, the “Determination to renewed effort to currently sub-par, Deliver” value to our Customers and stakeholders has led to the surpass the high has only enthused Company “Providing wings to standards we have our teams. FMCG brands globally.” Yes, the 4 Company’s evolution from an oral is the capacity to translate vision a Company, in an economy where care packaging Company to an into reality.” Rightly so. When performance is currently sub-par, innovative packaging solutions leadership is closely aligned with has only enthused our teams. We are provider to the high value non-oral the organisation’s vision, where therefore, eager and committed to care category is getting globally Leaders and teams are aligned take full advantage of the EXPANDED recognised. and work closely with complete PLAYFIELD available to us in the understanding of the goals and non-oral care space, with RENEWED Innovation is the key to your relevant guidance and motivation ENERGY and zest. Company’s growth. As Steve Jobs is constantly provided, the said “Innovation distinguishes I am reminded of a comment by Tony organisation is bound to succeed. between a leader and a follower.” Gwynn – a Hall of Fame baseball Leadership is also about being We have always tried to be one player “The minute you’re satisfied approachable to people down the step ahead of the market in terms with where you are, you aren’t there line; about helping them remove of our product range, constantly anymore.” road-blocks and resolve issues defining and evolving to meet the without delay. This would result in There are opportunities out there ever-changing market requirements two good things happening in the available to us for the asking; it might – be it the quality of our products organisation – (i) the leadership mean more work and untiring effort & processes, presenting of the behaviour of being proactive will for us as a Company. I am sure that “first moment of truth” to the percolate down the line and (ii) the we can do it and together with all our consumer by way of attractive organisation will be strong, positive stakeholders strive to reach greater decoration, convenient dispensing and motivated. heights. systems and anti-counterfeit, eco friendly structures and processes Peter F. Drucker said “Leadership is I would like to thank our valued that reduce carbon footprint. lifting a person’s vision to high sights; Customers for their continued Your Company has applied for the raising of a person’s performance faith and trust in us; our Suppliers, patents for over 100 products and to a higher standard; the building Shareholders, Bankers and all processes globally and quite a few of a personality beyond its normal other stakeholders for their of them have been granted. limitations.” invaluable support in all our endeavours; the Board of Directors Our innovation has extended to If we succeed in achieving this with for their unstinted support and working with our machinery supplier, our Human Capital, we will have conscientious guidance to enhance to enhance machines, both in terms people of 25 different nationalities the Company’s performance in of speed as well as capabilities. Our with varied cultural backgrounds, every aspect; last but not least, to latest achievement is the “SHOT” rallying around and working towards the Leadership Team, Esselites who line, which is capable of actually one single Corporate Vision. There are the backbone of the Company; producing 500 tubes per minute. will then be nothing to stop us on our their enthusiasm and efforts have Hitherto, we had machines which growth path and delivering on our contributed to the growth of the could produce maximum of 240 promises. Company. tubes per minute. Success is contagious. For us at The other key to your Company’s Essel Propack, it is renewed energy, With best wishes, growth is fast decision making renewed commitment and renewed and timely implementation of effort to surpass the high standards decisions by business leaders. As we have set for ourselves.
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