UFlex Ltd Q3 FY11-12 Consolidated Net Revenue at Rs. 1146 crore and Net profit of Rs. 51 Crore New Delhi:- UFlex Ltd, the Bombay Stock Exchange (UFLEX: 500148) and NSE listed, India’s largest flexible packaging company has registered the Consolidated net revenue for the December quarter of 2011 of Rs. 1146 crore as against Rs. 1020 crore for the same period last year, up 12%. The higher revenue growth has been achieved due to availability of new capacities and higher utilization thereof. However, the Consolidated net profit has not been in line with top line growth due to continued downward pressure on selling price and rising input cost of PET Film and overall rise of other operating and interest cost during the quarter. It has been lower at Rs. 51 crore as against Rs. 251 crore for the same period last year.
For the nine months period ended December 31, 2011, UFlex recorded lower net profit of Rs. 205 crore against Rs. 515 crore in the corresponding period last year, but net revenue of the company for the nine months ended Dec.. 31, 2011 stood at Rs. 3384 crore compared Rs. 2565 crore in the same period in previous fiscal, up by 32%.
According to Mr. Ashok Chaturvedi, Chairman and M.D. of UFlex Ltd, “Exploring new markets and investment destinations has been an ongoing process for us, as has been innovation in product development that has ensured long term relationships with customers globally. This progressive outlook reflects well in our growth in revenues and goes on to stamp our commitment towards our other stakeholders of incremental value generation on investments.
UFlex agenda of global expansion and consolidation of its position as a truly Indian MNC (Multinational Corporation) is reinforced with its strategy of capacity expansion and adding manufacturing lines for new product categories across facilities in Dubai, Mexico, Egypt, India, Poland & USA – not only to increase proximity to the markets, but also to bring broad portfolio of value added products to its clients at competitive price points.
In the nine months of the current financial year (FY11-12), UFlex Ltd completed the 2nd phase of expansion of its facility in Mexico in the quarter ended June 30, 2011. The expansion here was in two phases of 30000 MT capacity each, aggregating a total capacity of 60000 MT, and involving total capital investment of USD 110 million. The company also commissioned an AL-OX coater and CPP plant for Packaging films at its Egypt plant during Sept. 2011 quarter and the new line of PET film of 30,000 MTs got commissioned in the quarter ended December, 2011.
Earlier, UFlex had initiated the setting up of a new plant for manufacturing of 30,000 MTs of polyester film at Poland. The company will set up the plant in Wrzesnia with an investment of $80 million (around Rs 360 crore), which is expected to be commissioned by June 2012.
The Company also announced plans to invest total USD 180 MLN to set up polyester film plants in Kentucky, US with an annual capacity of 60,000 metric tonnes. The 1st phase will be commissioned by December 2012 having annual capacity of 30000 MTs.
UFlex is the only integrated unit of its kind in the world with Flexible Packaging at its core. It has vast capacities for production of Polyester chips, Biaxially Oriented Polyethylene Teraphthalate (BOPET) and Biaxially Oriented Polypropylene (BOPP) films, Printing & Coating Inks, facilities for Holography, Metalization & PVDC coating, making Gravure Printing Cylinders & Flexo Printing plates, Gravure Printing, Lamination and Pouch formation.
The company’s partial client list includes Unilever, Pepsi, Wrigley, Procter & Gamble, Colgate, Palmolive, Nestle, Gillette, Ranbaxy, Perfetti, Joyco, Monsanto, ITC, Godrej Pillsbury, Tata Tea, Hindustan Petroleum, Indian Oil, Britannia, Dabur, Haldiram, Wockhardt, HUL, Parle Biscuit, and Birla 3M, among others.
