Uflex reports 19% growth in Q1 results

U Flex is listed on the BSE and NSE.

For the full financial year ended March 31, 2015, Uflex recorded a growth of 5% in consolidated net revenues at Rs 6,201 crore as against Rs 5892 crore for the last year. The net profit for the full financial year (FY 2014-15) stood higher at Rs 255 crore against Rs 202 crore in the last year, an increase of 26%.

The company has paid dividend of Rs 2.70 per share to the members for the FY 2015 as against Rs 2.50 per share in the previous year.

The company has been reporting consistent growth amidst increasing demand for innovative flexible packaging solutions, fuelled by expanding retail industry particularly in the food segment.

Meanwhile, conforming to the ‘Make in India’ initiative, Uflex is in the process of setting up a first of its kind Aseptic Packaging Plant for liquid packaging in Sanand, Gujarat with a Capex of Rs 550 crores in the first phase. This project is proposed to be commissioned and operational by April 2017 and employ around 250 people in the first phase. In the final phase, the plant will provide employment to approximately 3,000 people and will produce approximately seven billion packs per year for liquid products such as energy drinks, milk and juices. About 90% of the output from this factory will cater to the domestic market.

“Uflex continues to strive to become one of the largest flexible packaging companies and preferred supplier in the world, delivering best in class products and services,” Ashok Chaturvedi, chairman and managing director, Uflex Group, said.

The company was conferred with the Global DuPont Packaging Innovation Silver Award 2015 for the ‘safe pack bag’ for packaging building materials. “This award is a result of our keen eye for detail and unrelenting quest to enhance value for our customers through innovating technologically superior products. I look forward towards eventful quarters ahead,” Chaturvedi added.

Headquartered in Noida, Uflex is the largest fully integrated Indian flexible packaging solution provider to a range of clients across industries both in India and overseas. It enjoys a formidable market presence in more than 140 countries. Established in 1983, the company today has state-of-the-art packaging facilities at multiple locations in India with installed capacity of over 99,000 tpa. “We have plastic film manufacturing facilities in India, UAE, Mexico Egypt, Poland and the US, with cumulative installed capacity in excess of 337,000 tpa,” Chaturvedi said.

The company’s agenda of consistent global expansion and consolidation of its position as a truly Indian MNC is reinforced by its strategy of capacity expansion and adding manufacturing lines for various product categories across existing and newer locations. By doing this, Uflex increases proximity to the markets and brings broad portfolio of value-added products for its clients at the most competitive price points.