The Paper Products Ltd

PBT for Twelve Months-2009 up by 66.5%

Mumbai, January 27, 2010: The Paper Products Limited (HUHTAMAKI-PPL), India's leading flexible packaging company, today announced its audited Financial Results for the year ended December 31, 2009. The company achieved net sales of Rs.577.69 crores during the year, representing a decrease of 5.6% from net sales of Rs.612.09 crores in 2008. The profit before tax is Rs.49.57 crores compared to Rs.29.77 crores in 2008 showing a growth of 66.5%. The basic and diluted earnings per share is Rs.5.96 as compared to Rs.3.40 in 2008.

In comparison between quarters, the company has achieved sales of Rs.130.37 crores in Q4-2009 representing a decrease of 8.7%, over sales of Rs.142.78 crores in Q4-2008. The profit before tax is Rs.9.10 crores in Q4-2009 as compared to Rs.6.14 crores in Q4-2008. The basic & diluted earnings per share is at Rs.1.15 in Q4-2009 as compared to Rs.0.61 in Q4-2008.

The company had implemented Oracle ERP system which has gone live in October 2009. Due to the black out period, teething issues, sales in the month of October 2009 were severely affected. Since then the system is stabilising and the company is moving towards normalised sales level.

Profit has been better due to a more favourable product mix, better cost efficiency management in response to the economic situation & absence of forex losses which had hit in 2008.

The Board of Directors has proposed a one time Platinum Jubilee dividend of Rs.1 per share in addition to dividend of Rs.2 per share.

 

About The Paper Products Limited (HUHTAMAKI-PPL):

PPL is India's leading manufacturer of primary consumer packaging with 2009 gross sales of Rs.618 crores, and net capital employed of about Rs.314 crores.

Since 1999, PPL is a joint venture with the global packaging major, Huhtamaki Oyj, Finland who holds about 59% of the equity capital. Huhtamaki is one of the world's top ten consumer packaging multinationals.

PPL is a pioneer and the technology and market leader in flexible packaging in India with manufacturing facilities at Thane, Silvassa, Hyderabad and Rudrapur. It meets the packaging needs of almost the entire range of FMCG segments including personal products, personal wash, laundry, foods, sauces, beverages, bakery products, spices, chocolates and confectionery, dairy and also for seeds, specialized chemicals, electronics, healthcare and many other specific specialized uses including anti-spurious packaging.

The Package Protection and Decoration products range includes latest leading edge technologies - shrink sleeves, wrap-arounds, heat transfers, pressure sensitives and metallised paper labels.

Manufacturing of specialized cartons and cartoning systems, manufacture of poly films, specialized barrier metallising and high-end application extrusion coating are also part of PPL's product offerings.

The company's packaging machines division offers complete packaging solutions to customers.

PPL mainly caters to the premium segment of packaging and its clients include Britannia, Cadbury, Castrol, Coca Cola, Dabur, Emami, Eveready, GSK, Godrej, Hindustan Latex, Hindustan Unilever, HPCL, ITC, Marico, MICO, Nestle, Pepsi, Perfetti, P&G, Tata Tea, TTK-LIG, Wipro and many more.

More at our website : www.pplpack.com

Mr. Ravi Chidambaram Controller - Finance & Joint CFO The Paper Products Limited Board: +91 - 22 - 21735591- Ext. 453 Mobile +91 - 98216 04825