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CD Equisearch
Essel Propack
(Accumulate)
CMP: ₹291.1
Target: ₹344
Essel Propack Ltd (EPL) is a producer of plastic packaging material in the form of multilayer collapsible tubes and laminates used primarily for packaging of toothpaste and personal, among others..
EPL’s growth will be invigorated by growing packaging industry, GST reform in India in the long run, synergies from EDG (Essel Deutschland Germany) acquisition such as enhanced cross selling opportunity in the European markets, sourcing flexibility and better capacity utilisation at the Company’s Europe plants, among others.
Further, innovations such as ‘Mystik’ (packaging premium hair colorant — commercial production line to be installed in Europe) and ‘Green Maple Leaf’ (fully recyclable eco-friendly laminated tube) being actively promoted in the market place, non-oral care category gaining share and revamping of capabilities to meet demand will enable EPL to revitalise business growth.
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