The Paper Products Ltd

Sales for Q2-2010 grows by 20%

Mumbai, July 30, 2010: The Paper Products Limited (HUHTAMAKI-PPL), India’s leading flexible packaging company, today announced its unaudited Financial Results for the second quarter & the first half year ended June 30, 2010. The company achieved net sales of Rs.333.23 crores during the half year, representing an increase of 15.7% from net sales of Rs.288.09 crores in H1-2009. The profit before tax is Rs.34.55 crores compared to Rs.30.00 crores in H1-2009 showing a growth of 15.2%. The basic and diluted earnings per share including exceptional income is Rs.4.26 and excluding exceptional income is Rs.2.49 as compared to Rs.3.49 in H1-2009.

Exceptional income of Rs13.98 crores in H1-2010 represents net gain realised on sale of Nagpur factory property in Q1-2010. Current tax for H1-2010 includes Rs.2.86 crores relating to the above exceptional income.

In comparison between quarters, the company has achieved sales of Rs.174.15 crores in Q2-2010 representing an increase of 20.2%, over sales of Rs.144.92 crores in Q2-2009.The profit before tax is Rs.8.40 crores in Q2-2010 as compared to Rs.13.69 crores in Q2-2009. The basic & diluted earnings per share is at Rs.1.07 in Q2-2010 as compared to Rs.1.73 in Q2-2009.

 

About The Paper Products Limited (HUHTAMAKI-PPL):

PPL is India’s leading manufacturer of primary consumer packaging with 2009 gross sales of about 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. Parag Vyavahare Chief Financial Officer The Paper Products Limited Board: +91-22-2173 5591- Ext. 157 Direct: +91-22-2173 5610 Mobile: +91-98216 04824