New Delhi, May 30, 2013:– 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 2013 of Rs. 1240 crore as against Rs. 1175 crore for the same period last year, up 5.5% whereas the sales volume has grown by 13% due to availability of additional capacities at the new manufacturing facilities that commenced operations. However, the consolidated net profit for the quarter ended March 31, 2013 has been lower at Rs. 41 crore as against Rs. 51 crore for the same period last year due to continued downward pressure on the operating margins.
For the full financial year ended March 31, 2013, UFlex recorded a strong growth of 14% in consolidated net revenues at Rs. 5161 crore as against Rs. 4516 crore for the last year. The net profit for the full financial year (FY 2012-13) has been lower at Rs. 190 crore against Rs. 255 crore in the last year, a decrease of 25%.
The higher revenue growth is attributed to new capacity expansion globally and increased uptake of innovative flexible packaging solutions offered by the company across sectors. UFlex completed the expansion in Poland successfully during July, 2012 and in Kentucky, USA during January 2013. Collectively the two facilities involved investments of about $150 million.
According to Mr. Ashok Chaturvedi, Chairman and M.D. of UFlex Ltd, “With growing number of markets in our fold and manufacturing facilities at important commercial centres of the globe gives us the necessary edge to serve our clients with quality products and services. Our direct near-shore presence to clients has enabled us to serve them promptly which is important in the dynamic business environment today. This has ensured long term relationships with customers globally and reflects well in our growth trajectory.”
UFlex strong manufacturing base in India, Mexico, Dubai, Egypt, Poland and USA caters to global markets spanning USA, Canada, South America, UK, Europe, Russia, CIS countries, South Africa and other African countries, the Middle East and the South Asian Countries.
Expansion Plans
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 various product categories across existing and newer locations to increase proximity to the markets, but also to bring broad portfolio of value added products to its clients at competitive price points.
The company offers its flexible packaging products and solutions globally to clients including 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, Birla 3M, among others.
