UFlex Limited, India’s largest multinational in flexible packaging materials & solutions and a global leader in polymer sciences, has announced its financial results for Jan-March 2022 Quarter and full year ending 31 March, 2022.

Putting the financials in perspective, UFlex Limited registered a surge of 32.33% in net profit to INR 350.28 crore in the quarter ended March 2022 as against INR 264.71 crore during the previous quarter ended March 2021.

Read: May 2022 Issue of Food InfoTech Magazine.

Sales rose 54.78% to INR 3861.86 crore in the quarter ended March 2022 as against INR 2495.14 crore during the previous quarter ended March 2021.

For the full year, the net profit rose 30.30% to INR 1098.26 crore in the year ended March 2022 as against INR 842.90 crore during the previous year ended March 2021. Sales rose 49.36% to INR 12956.40 crore in the year ended March 2022 as against INR 8674.51 crore during the previous year ended March 2021.

The company has also unveiled a range of value-added, sustainable products and solutions that are set to rewrite the packaging story for brands and converters in this competitive landscape. The company shared the new launches made during January to March 2022 while announcing its quarterly and annual results closing on 31 March 2022.

Sharing his outlook on company’s financial performance and industry, Ashok Chaturvedi, Chairman and Managing Director, UFlex Limited said, “Our focus on responsible growth inspires us to ponder over sustainable developments that stand more validated now, than ever before, and will contribute to the betterment of the planet and its inhabitants. To me, the next few years will unfold a world of opportunities emanating from the advent of new Plastic Waste Management (Amendment) Rules 2022 in India. The ban on the use of single-use plastic in our country is around the corner and our preparedness for the same with the setting-up of India’s first U-shaped paper straw line for aseptic carton packs is already gaining traction from many beverage brands. We are ready with the finest solutions and equipped to abide by the new EPR rules both ways, for us and our customers; and are also working on advanced biodegradable solutions for several plastic packaging. We would like to assure everyone that to overcome any challenges in plastic packaging, our in-house R&D team with external support is working around the clock to architect solutions for our valued clienteles.”

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He further added, The last fiscal brought us a mix of challenges and opportunities that we together faced with resilience and persistence. We took long strides to commission our greenfield packaging film manufacturing facilities in Nigeria and Hungary. Our BOPET and CPP film line expansion in Dharwad in Karnataka, and our CPP film line project in UAE has picked up pace and its implementation is on track. We have successfully commissioned the doubling of our aseptic liquid packaging capacity at our plant in Sanand.”

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