Net profit stood at Rs 78.7 crore as compared to Rs 57.1 crore during the third quarter of 2014-15.

The consolidated total revenue for the third quarter of 2015-16 was slightly lower year-on-year at Rs 1,511 crore as compared to Rs 1,533.8 crore. This, the company said, was due to fall in selling prices of packaging films mainly owing to the drop in the prices of raw materials.

The company’s consolidated total revenue for the first nine months of the 2015-16 financial year is Rs 4,651 crore, while the consolidated net profit for the same period stands at Rs 232.6 crore, up from Rs 186.2 crore when compared to the same period during last financial year, thus registering a bottom line growth of 25%.

Ashok Chaturvedi, Uflex Group chairman and managing director, said, “I am glad that the innovation quotient of the organisation has been continuously rising – a fact that is well evident from the consistent growth in our bottom line.”

He said the company always endeavours to offer flexible packaging solutions that add discernible value to the business of its clients. “This is a collaborative process, wherein our product team proactively interfaces with our clients to design unique and optimised packaging solutions exactly matching their requirements in terms of barrier properties, functionalities, aesthetics and anti-counterfeiting properties, among other parameters. We stand committed to deploying cutting edge technology to the best advantage of our clients,” Chaturvedi added.

The work towards commissioning an aseptic packaging plant at Sanand, Gujarat, is underway in full swing. With this plant for packing liquid products going commercially operational in early 2017, the company will complete its entire product bouquet of flexible packaging solutions, which currently covers solids, semi-solids, viscous fluids, pastes, gels, powders, granular material and so on.

Technology highlights for the quarter

The company is in the final stages of setting up a robotic plant for gravure cylinder production at its Noida location. This robotic plant is expected to be ready by April 2016. Based on technology from Think Laboratory Japan, the production of cylinders will now become a one-man operation.

New thinner transparent polyester film launched. A two-substrate laminate, this film serves as a cost-effective food packaging solution offering better shelf life.

The Hot Stamping Foil (HSF) saw a substantial increase in sales volume.

The company has installed new machines at its Jammu plant in order to provide Fresnel lens-based anti-counterfeit solutions to its clients. These machines were installed in the third quarter and more such machines will come in the fourth quarter.

A new pre-treatment plant for improving the quality of packaging machines has been started. New paint booth and powder coating booth are also functional.

Work is underway on the new aseptic liquid packaging machine for pouches and is likely to be completed in the fourth quarter.