Noida, February 14, 2022: UFlex Ltd, India’s largest multinational in flexible packaging solutions and a global leader in polymer sciences, today announced its earnings for the quarter ending December 31, 2021. The company posted a consolidated PAT of ₹ 313.2 cr surging by 95.9% YoY whereas the consolidated EBITDA stood at ₹ 618.7 cr for Q3FY21-22, up by 48.5% YoY. The consolidated net revenue registered 64.6% YoY jump to reach ₹ 3474.3 cr for the quarter under review.
Owing to the global expansions and contributions being made by the new lines that were commissioned in the past quarters, Total Production Volume surpassed its previous record to reach 153441 MT in Q3FY22 witnessing a jump of 38% YoY whereas Total Sales Volume mirrored the 38% YoY increase to reach 154224 MT.
Speaking on the business’ financial performance, Rajesh Bhatia Group CFO, UFlex Ltd stated, “Rapid technological advancements, rising consumption, regulatory focus and brands’ commitment to move towards sustainable packaging have resulted in significant changes and numerous chances for the plastics industry to expand locally and globally. However, after last year’s slump, the crude oil prices are rising again and the growing input costs are a cause for concern. Its impact across industries and on prices of raw materials in addition to other products is going to be more pronounced. This quarter indicates a high in packaging films production volume with the contribution to our topline coming from the newly commissioned overseas capacities reflected in YoY growth of 46.3% in packaging films production volume. Looking ahead, we are expecting incremental growth in forthcoming quarters as we operationalize our new aseptic liquid packaging capacity in Sanand and packaging films lines in Karnataka & Dubai.”
Highlighting company’s sustained efforts towards building a circular plastic economy, Ashok Chaturvedi, Chairman and Managing Director UFlex Limited said, “Packaging waste management especially of plastic is an ever-increasing area of focus, across the world. UFlex has been walking the green path by recycling post-consumer MLP mixed plastic waste; upcycling recycled resins into Post-consumer Recycled (PCR) films range and also creating solutions that use lesser amount of virgin plastic at source. The new high-value line of products and solutions including the proposed enzyme-based biodegradable packaging solution are aimed at adoption of responsible packaging and reflects our increased focus and investments in R&D. UFlex has already been recycling close to 30,000 tonnes of plastic waste per year and our target is to reach 1,00,000 tonnes. The new recycling lines to be commissioned in our Mexico and Poland facility and the proposed recycling infrastructure in Egypt will help us realize our vision. We are also expecting the new EPR regulations in India shortly which will bring more certainty towards sustainable packaging.”
Creating bespoke solutions for its brand partners has earned UFlex a large pool of customers and in this quarter too, the company introduced a host of sustainable and smart value-added products & solutions matching the need of its customers and their consumers. To view the new range of products and solutions introduced in the quarter, view: https://www.uflexltd.com/pdf/QTRPU/UFlex_Product_Updates_Q3FY22.pdf
For more details on the Results for the Quarter ended December 31, 2021 click on: www.uflexltd.com/financials.php
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UFlex is India’s largest multinational in flexible packaging materials and solutions and a global polymer sciences corporation. Since its inception in 1985, UFlex has grown from strength to strength to establish a presence across the world through manufacturing units and customers. Today, it has state-of-the-art packaging facilities at multiple locations in India and has packaging film manufacturing facilities in India, UAE, Mexico, USA, Egypt, Poland, Russia, Hungary, and Nigeria.
Integrated within its core business profile of Flexible Packaging and Packaging Films are allied businesses like Aseptic Liquid Packaging, Engineering, Cylinders, Holography and Chemicals which further gives UFlex a superior edge over competition. UFlex offers technologically superior and sustainable packaging solutions for a wide variety of products such as snack foods, confectionery, sugar, rice, other cereals, beverages, tea & coffee, dessert mixes, noodles, wheat flour, soaps, detergents, shampoos, conditioners, vegetable oil, spices, marinades & pastes, dairy products, frozen food, poultry, anti-fog, pet food, pharmaceuticals, contraceptives, garden fertilizers, plant nutrients, motor oil, lubricants, automotive and engineering components etc. A B2B manufacturer, UFlex has also added new consumer facing products to its portfolio, like sanitizers and N-95 masks.
The group with a 9000+ strong multi-cultural workforce has been providing innovative, value-added and sustainable packaging solutions to numerous Fortune 500 companies, spread across 150 countries worldwide.
A winner of various marquee global awards for its products’ excellence, innovation and sustainability, UFlex became the ‘first company in the world to recycle mix plastic waste’ earning it recognition at Davos Recycle Forum in 1995. For more details, click on: www.uflexltd.com
For more details, click on: www.uflexltd.com