Uflex Ltd’s consolidated Net Revenue for Q1 FY2015-16

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UflexNewZNew (Chandigarh) : Uflex Ltd, the Bombay Stock Exchange (UFLEX: 500148) and NSE listed, India’s largest flexible packaging company, has registered consolidated net revenue of 1605 crore for the quarter ended 30th June 2015 as against Rs. 1536 crore for the same period last year. The consolidated net profit for the quarter ended 30th June 2015 has been higher at Rs. 76 crore as against Rs. 64 crore for the same period last year, thus clocking a growth of 19%.

As reported earlier, for the full financial year ended March 31, 2015, Uflex recorded a growth of 5% in consolidated net revenues at Rs. 6201 crore as against Rs.5892 crore for the last year.  The net profit for the full financial year (FY 2014-15) stood higher at Rs. 255 crore against Rs. 202 crore in the last year, an increase of 26%. The company has paid Dividend of Rs. 2.70 per share to the members for the FY 2015 as against Rs. 2.50 per share in the previous year i.e. FY 2014.

The company has been reporting consistent growth amidst increasing demand for innovative flexible packaging solutions fuelled by expanding retail industry particularly in the food segment.

Upon the declaration of results, Mr. Ashok Chaturvedi, Chairman and Managing Director of Uflex Group said, “Uflex continues to strive to become one of the largest flexible packaging companies and preferred supplier in the world, delivering best in class products and services. You will be glad to learn that we have been conferred with Global Dupont Packaging Innovation Silver Award 2015 for the ‘Safe Pack Bag’ for packaging building materials. This award is a result of our keen eye for detail and unrelenting quest to enhance value for our customers through innovating technologically superior products. I look forward towards eventful quarters ahead.”

Expansion Plans

Uflex’s agenda of consistent global expansion and consolidation of its position as a truly Indian MNC (Multinational Corporation) is reinforced by its strategy of capacity expansion and adding manufacturing lines for various product categories across existing and newer locations. By doing this Uflex increases proximity to the markets and brings broad portfolio of value added products for its clients at the most competitive price points. The Company has been on a drive to set-up new plants for developing and manufacturing many new and innovative packaging products. Conforming to Government of India’s mission of “Make in India”, Uflex Limited is in the process of setting up a first of its kind Aseptic Packaging Plant for liquid packaging in Sanand, Gujarat with a Capex of INR 550 crores in the first phase. This project is proposed to be commissioned and operational by April 2017 and employ around 250 people in the first phase and on completion of all the phases it will provide employment to approximately 3000 people. This factory will produce approximately seven billion packs per year for liquid products such as energy drinks, milk and juices. About 90 percent of the output from this factory will cater to the domestic market.