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 March quarter of 2012 of Rs. 1195 crore as against Rs. 986 crore for the same period last year, up 21%. 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. 183 crore for the same period last year.
For the full financial year ended March 31, 2012, UFlex recorded a strong growth of 30% in consolidated net revenues at Rs. 4579 crore as against Rs. 3540 crore for the last year. However, net profit has been lower at Rs. 256 crore against Rs. 697 crore in the last year due to the reasons explained above.
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.
During the financial year ended March 31, 2012, UFlex Ltd completed the 2nd phase of expansion of its facility in Mexico aggregating a total capacity of 60000 MT of PET film and commissioned an AL-OX coater, CPP plant of 12000 MTs and PET film of 30,000 MTs at Egypt.
Earlier, UFlex had initiated the setting up of a new plant for manufacturing of 30,000 MTs of polyester film at Poland. The project is being implemented and is expected to be commissioned by June 2012.
The Company also announced plans to set up polyester film plant in Kentucky, US. 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.
