India’s largest multinational flexible packaging materials and Solution Company UFlex Limited announced the earnings for quarter ended 31 December 2016 today.
Total Consolidated Revenue for Q3 FY 2016-17 stood at Rs. 1498 Crore as compared to Rs. 1495 Crore for the same period in the last fiscal. At operational level the Consolidated EBITDA for the quarter ended 31 December 2016 stood at Rs. 212 Crore registering a growth of 7% with respect to the previous financial year when it was Rs. 198 Crore. The Consolidated Net Profit for Q3 FY 2016-17 has been Rs. 74 Crore as opposed to Rs. 79 Crore for the same period in the preceding fiscal down by 6.9%.
For the first nine months of FY 2016-17, the company reported a 7.2% (Y-O-Y) increase in the Consolidated Net Profit which stood at INR 250 Crore. Consolidated EBIDTA during the same period has been reported at INR 672 Crore registering a Y-O-Y growth of 5.4%.The Total Revenue for nine months ended 31 December 2016 has been Rs. 4555 Crore down by 1% from the year before when it was recorded at Rs. 4602 Crore.
Commenting about the financial numbers, Mr. R.K. Jain, Group President (Corp. F & A), UFlex Limited said,“While the Y-O-Y revenue growth for both quarter and nine months ended 31 December 2016 has remained muted but the sales volume have grown by 9% and 8% respectively.
Given our well spread product portfolio of films and fully integrated value added flexible packaging solutions both in India and overseas we are very hopeful of achieving much better results in the ensuing quarter.”
In an official communique released soon after declaring the results, Mr. Ashok Chaturvedi, Chairman & Managing Director, UFlex Limited extended best wishes for 2017 and said, “Continuing our innovation streak, this year will witness a game changer in pharmaceutical packaging. After rigorous R&D of nearly two years, our Films Business has engineered speciality polyester film that is all set to replace the top and the bottom-most layers of the conventional BOPA – Aluminium Foil – PVC laminates that have been used in Alu-Alu blister packs across the pharmaceutical industry all this while. We have successfully been able to bring in meta phase morphology which has paved way for cold forming of the speciality polyester film in Z direction required for blister packaging. Most importantly the laminate produced out of the new speciality polyester film can be used equally efficiently on the existing cold blister forming machines without requiring any additional capital expenditure. This film exhibits excellent printability, mechanical and thermal properties. The benefits that shall accrue to convertors and pharmaceutical brands by the virtue of our new polyester film will be significant. In the coming months we will share more details about this product.
During the third quarter we unveiled ASEPTO our aseptic liquid packaging brand. I am glad to share with you that the response for our upcoming product has been more than encouraging already. Our aseptic liquid packaging manufacturing plant at Sanand, Gujarat will be commercially operational by April/ May 2017. Being a fully integrated flexible packaging materials and solution company, we will also be offering top of the line liquid filling machines (‘ASEPTOTM Smart Lines’) commensurate with the most contemporary aseptic packaging material for our clients.
Let’s brace up for an eventful year ahead where many new milestones will be achieved and flexible packaging as an industry will graduate to a whole new level of excellence!”, concluded Mr. Chaturvedi.
