EPL Limited Conference Call Summary (May 28, 2024)
Financial Performance
• Q4 Revenue Growth: 6.2%
• EBITDA Increase: 16.5%
• Adjusted PAT Rise: 22%
• Challenges: Economic uncertainties and supply chain disruptions
• Reported PAT Decline: 73.5% due to one-time exceptional items
Strategic Focus
• Revenue Enhancement Initiatives:
• Beauty and cosmetics
• Sustainable products
• Greenfield project in Brazil
• Margin Improvement: Through restructuring and cost optimization
Regional Performance Insights
• East Asia Pacific (EAP): Subdued performance due to Chinese New Year; confidence in growth in beauty and cosmetics.
• India: Strong order growth; concerns about market share loss addressed.
• Brazil: Margin-accretive business with new orders; cautious on volume predictions.
CAPEX and Sustainability
• CAPEX Clarification: Spending aligns with amortization; focused on Brazil investments.
• Recyclable Tubes Growth: Increased from 10% to 21% of volume; expected to enhance wallet share.
Operational Insights
• Capacity Utilization: Indian plants at early 80s percentage; limited exports due to freight costs.
• EBIT vs. EBITDA in Europe: Higher depreciation due to capitalizations in Poland.
Restructuring Efforts
• Key Initiatives:
• Personnel optimization
• Manufacturing realignment from Germany to Poland
• Establishing a center of excellence in Poland
• Expected Benefits: To materialize within the year.
Future Outlook
• Americas Growth: Projected double-digit growth for FY'25.
• Interest Costs: Expected to remain steady with minor fluctuations.
• Sustainable Packaging Margins: Comparable or better than traditional options.
Conclusion
• Closing Remarks: CEO Anand Kripalu thanked participants for their support.

EPL Limited Q3 FY24 Earnings Conference Call Summary
Date and Participants
• Date: February 7, 2024
• Key Participants:
• Anand Kripalu (MD and Global CEO)
• M. R. Ramasamy
• Pramod Dangi
• Deepak Goyal
• Mihir Shah
• Udit Gupta
Operational Updates
• Brazil Plant:
• Became operational last quarter and has stabilized.
• Now included in consolidated results.
Financial Performance
• Revenue Growth:
• 3.2% year-over-year.
• Regional performances:
• India: 4.2%
• EAP: 11.6%
• Europe: 8.6%
• Americas: 11.9%
• AMESA: -0.6%
• EBITDA Margin:
• 18.8%, consistent improvement over six quarters.
Strategic Focus
• Personal Care Segment:
• Constitutes 48% of total sales.
• Sustainability Commitment:
• Recognition for sustainability efforts.
• Targeting 60% recycled materials.
Challenges and Management Insights
• Pricing Pressures:
• Negative pricing impacts due to commodity softening.
• Lagging effects typically by a quarter.
• Cost Optimization:
• Need for cost management alongside growth initiatives in Europe.
• Customer Service:
• Commitment to maintaining service levels despite high lead times.
Future Outlook
• Margin Improvement:
• Targeting over 20% margin, timeline uncertain.
• Growth Strategy:
• Exploring M&A, greenfield, and brownfield expansions.
• Focus on beauty and personal care for better margins.
Market Conditions
• Geopolitical Issues:
• Challenges in Egypt and Europe acknowledged.
• Seasonality:
• Q4 typically sees lower margins; balanced approach needed.
Product Development
• NEOSeam Tubes:
• Transitioned to commercial product with initial sales.
• Recyclable Tubes:
• Technological edge in preparation for 100% recyclable tubes by 2025.
Conclusion
• Overall Sentiment:
• Confidence in achieving growth despite current market challenges.
• Final Remarks:
• Management expressed optimism about returning to higher growth rates.

EPL Limited Q2 FY2024 Financial Results Conference Call Summary
Financial Highlights
• Revenue Milestone: Achieved over Rs. 1000 Crore in revenue for the first time.
• Growth Metrics:
• 5.6% overall revenue growth.
• Record EBITDA of Rs. 181 Crores.
• EBITDA margin improved to 19% (267 basis points YoY increase).
• Net profit increased by 50.4%.
• Return on capital employed (ROCE) improved to 16.5%.
Regional Performance
• India: 6.9% growth.
• EAP (East Asia Pacific): 13.2% growth.
• Brazil: Over 80% of committed volumes reached in the first full quarter.
Sustainability Initiatives
• Aiming for EcoVadis Platinum status.
• Focus on increasing recyclable packaging, targeting 20% recyclable tubes.
• Advanced technology for recyclable tubes in place.
Strategic Focus
• Plans for aggressive growth in personal care and cosmetics.
• Expansion of Brazilian market presence.
• Targeting over 20% margins through price management and operational efficiencies.
Q&A Highlights
• Recyclable Tubes: CEO Anand Kripalu emphasized prioritizing market share over margins in sustainability efforts.
• Interest Costs: CFO Deepak Goyal noted rising interest costs due to high rates in Brazil and globally.
• Americas and Europe: Focus on improving profitability and enhancing P&L in Europe.
• Recyclable Tube Economics: Pricing similar to traditional tubes; expected to be margin-accretive as scale increases.
Margin Management
• Kripalu assured that margins will not be diluted despite potential price adjustments.
• Emphasis on long-term growth and collaboration with customers.
• Projected positive EBITDA for Brazilian operations by FY2024 and profitability by FY2025.
Future Outlook
• Confidence in achieving over 20% EBITDA margins through various strategies.
• Commitment to returning Americas' margins to mid to high teens.
• Proactive steps to address pricing challenges in a volatile cost environment.
Strategic Shift
• Transition from oral care to significant sales in personal care and cosmetics.
• Introduction of NEOSeam technology to enhance competitiveness.
• Focus on backend flexibility for the beauty and cosmetics market.
Customer Engagement
• Successful conversions to NEOSeam technology.
• Enhanced capabilities for targeting smaller customers alongside key account management.
Conclusion
• Optimism expressed about the company's future performance and growth strategies.

EPL Limited Q4 FY '23 Earnings Conference Call Summary
Company Performance Highlights
• Revenue Growth: 10.1% increase, with:
• Americas: 17.1%
• Europe: 19.9%
• EBITDA Margin: Record high of 17.2%
• Net Profit: Increased by 80.7%, supported by tax credits
• New Operations: Successful production commencement at Brazil plant
• Sustainability Recognition: Received Gold Medal in EcoVadis 2023 Sustainability Assessment
Future Outlook
• Revenue Goals: Aim for continued double-digit growth amidst economic uncertainties (inflation, high interest rates)
• Market Challenges: Addressing inflation-related costs and pricing strategies
Q&A Session Insights
• Brazil Operations: Expected to ramp up and generate interest; focus on fulfilling commitments to anchor customer
• Gross Profit Margins: Decline attributed to business mix and translation impacts; freight costs softening, power costs rising
• EBITDA Margin Goals: Commitment to continuous improvement without specific guidance
Regional Performance
• Americas: Fixed contracts with successful price increases; one-off COVID-related inventory impacts noted
• Brazil Growth Potential: Confidence in growth and margin potential, with a $20 million investment
Sustainability Efforts
• Recyclable Products: Leader in supplying recyclable tubes; commitment to scaling up production
• Recycled Material Usage: Currently at 10% recycled content, with plans to increase as demand evolves
Market Strategy
• Pricing Strategies: Focus on premium vs. parity pricing to drive volume; aggressive pricing in response to inflation
• Regional Growth Opportunities: Emerging regional players may provide growth avenues despite market saturation concerns
Operational Readiness
• Brazil Commitment Orders: Prepared to meet delivery timelines for key customer
• Oral Care Growth: 8% to 10% growth driven by organic growth and market entry
Financial Position
• Net Debt Reduction: Strong cash flow leading to reduced net debt, positioning for further growth leverage
Conclusion
• Management Confidence: Positive outlook on operations and market conditions, with gratitude expressed to stakeholders for their support.

EPL Limited Q3 FY '23 Conference Call Summary
Conference Call Overview
• Date: February 7, 2023
• Hosted by: Systematix Institutional Equities
• Key Executives Present:
• Anand Kripalu (Managing Director and Global CEO)
• M.R. Ramasamy (COO)
• Amit Jain (CFO)
• Suresh Savaliya (SVP Legal and Company Secretary)
• Deepak Ganjoo (President of AMESA region)
• Moderator: Pratik Tholiya
• Transcript available on EPL's website per SEBI regulations.
Financial Performance Highlights
• Overall Performance: Mixed but positive results.
• Revenue Growth:
• 12.1% growth excluding East Asia Pacific (EAP).
• 19% growth in the Americas; 10.3% in Europe.
• EAP experienced an 8% decline.
• Overall top-line growth of 7% (7.8% at constant currency).
• Segment Growth: Personal care now represents 47% of the business.
• EBITDA and PAT: Increases of 16.6% and 11.9% year-over-year.
Innovation and Sustainability Efforts
• Focus on packaging technology and environmental goals.
• Improved ratings from CDP and EcoVadis.
Future Outlook
• Cautious optimism for recovery, especially in China post-COVID.
• Challenges remain in Europe and U.S. inflation.
• Aim to balance growth with cost management and sustainability.
Margin and Pricing Strategies
• Margin Outlook: No specific forecasts provided; focus on improving margins.
• Brazil Operations: Commercial billing to begin next quarter; confidence in demand despite market complexities.
• Pricing Challenges: Ongoing pricing adjustments for non-contracted customers; optimism for sustained double-digit growth.
Regional Performance Insights
• AMESA Region: Slowdown noted, particularly in oral care; attributed to market dynamics rather than performance decline.
• Europe: Operating losses due to volume challenges and cost increases; expected volume recovery in Q4.
Growth Strategies and Competition
• High customer stickiness; growth primarily from existing customers.
• Anticipated volume growth in Brazil from market share gains.
Mergers and Acquisitions
• Ongoing interest in strategic M&A opportunities in Europe; no suitable candidates found yet.
Raw Material Costs
• Rising costs despite a decrease in polymer prices; sequential softening noted.
• Anticipated margin expansion in the Americas due to price increases and investments.
Conclusion
• Emphasis on revenue growth and cost optimization to achieve mid-teen margins.
• Confidence in management capabilities for strategic acquisitions.
• Call concluded with gratitude for participant support during challenging times.