UFLEX Ltd., India’s largest multinational flexible packaging company and a global player in polymer sciences had recently declared its earnings for the quarter ending June 2021. The company has continued to maintain its growth momentum by posting a Consolidated Net Profit of INR 264 crores, which had risen by 34.4 % YoY, while its Consolidated EBITDA stood at INR 502.4 crores, witnessing a rise of 19.3% YoY for Q1 FY 2020-21. The company registered a Consolidated Total Revenue of INR 2761.2 crores for the first quarter of the fiscal 2021-22, an increase of 38.2% YoY. Total Production Volume during Q1 FY 2021-22 was 138,876 metric tonnes (MT) clocking a growth of 30% YoY, whereas Total Sales Volume was 133476 MT, an increase of 29.8 % YoY.
Rajesh Bhatia, Group President (Finance & Accounts) & CFO, UFLEX Ltd. stated as under – “Despite the headwinds in raw material prices and freight costs, we maintained consistent supply chain operations and simultaneously focused on volume-led profitable growth backed by enhanced capacities from recently commissioned plants including Hungary BOPP plant which was commissioned during the quarter.”
Adding further, he stated – “The Flexible Packaging volumes were affected due to the second COVID-19 wave that struck India in Q1FY22. Our EBIDTA margins stood at 18.2% in Q1FY22 as compared to 21.1% in the same quarter last year.”
Ashok Chaturvedi, Chairman & Managing Director, UFLEX Ltd said, “UFLEX has been on the path to fulfill its vision to get closer to its patrons with manufacturing units across the world with BOPP line in Hungary commissioned and Nigeria set to be commissioned. With consumers getting more mindful of what and how they consume, the packaging industry needs to be proactive in developing sustainable packaging without compromising on convenience and functional attributes of plastic. UFLEX has progressed in developing green products and solutions such as biodegradable packaging, water soluble bags and more, which will not only meet the approval of consumers but also uplift their perception of flexible packaging industry.”
For more details on the Results for Quarter ended June 30, 2021 click on: