Uflex's consolidated net profit for quarter ended March 31 up 46.3% year-over-year to 600M rupees; consolidated net revenue up 19% to 14.75B rupees, attributable to new capacity expansion, increased uptake of flexible packaging solutions offered

Elyse Blye

NEW DELHI , June 2, 2014 (press release) – Our continued commitment towards innovation and adding value to clients' businesses, which enables them to delight their customers with bouquet of packaging solutions and adhering to time sensitive operational practices has ensured strong relationships. This growing relationship is reflected in our sustained growth over the years.

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 F.Y. 2014 of Rs. 1475 crore as against Rs. 1240 crore for the same period last year, up 19%. The consolidated net profit for the quarter ended March 31, 2014 has been higher at Rs. 60 crore as against Rs. 41 crore for the same period last year up by 46%.

For the full financial year ended March 31, 2014, UFlex recorded a strong growth of 14% in consolidated net revenues at Rs. 5863 crore as against Rs. 5161 crore for the last year. The net profit for the full financial year (FY 2013-14) has been higher at Rs. 202 crore against Rs. 190 crore in the last year, an increase of 6%. The Board has also recommended Dividend of 25% for the FY 2014.

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.

According to Mr. Ashok Chaturvedi, Chairman and M.D. of UFLEX Ltd, “Our continued commitment towards innovation and adding value to clients’ businesses, which enables them to delight their customers with bouquet of packaging solutions and adhering to time sensitive operational practices has ensured strong relationships. This growing relationship is reflected in our sustained growth over the years.”

Expansion Plans

UFLEX’s 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. Accordingly, the Company has been working on its expansion plans to achieve its growth plans in future.

Uflex's 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.

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.

About UFLEX Ltd

UFLEX Ltd (www.uflexltd.com) is the Bombay Stock Exchange (UFLEX: 500148) and NSE listed India's largest flexible packaging company with large manufacturing capacities of plastic film and packaging products providing end-to-end solutions to clients across more than 140 countries. It has vast capacities for production of Polyester chips, Biaxially Oriented Polyethylene Teraphthalate (BOPET) and Biaxially Oriented Polypropylene (BOPP) films, Printing & Coating Inks, facilities for Holography, Metalization & PVDC coating, making Gravure Printing Cylinders, Gravure Printing, Lamination and Pouch formation.

UFLEX offers finished packaging of a wide variety of products such as snack foods, candy and confectionery, sugar, rice & other cereals, beverages, tea & coffee, desert mixes, noodles, wheat flour, soaps and detergents, shampoos & conditioners, vegetable oil, spices, marinates & pastes, cheese & dairy products, frozen food, sea food, meat, anti-fog, pet food, pharmaceuticals, contraceptives, garden fertilizers and plant nutrients, motor oil and lubricants, automotive and engineering components etc.
Media Contact
Company Name: Mavcomm Consulting Pvt. Ltd.
Contact Person: T. Anand Mahesh / Neeraj Atri
Email: anand@mavcommgroup.com / neeraj@mavcommgroup.com
Phone: 09870716285 / 9811714871
Country: India
Website: www.mavcommgroup.com

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.