India’s leading flexible packaging solutions provider UFlex has reported a consolidated net profit increase of 43.5% year on year to INR 100.6 crore for Q4 FY19-20. The company’s net income from operation during Q4 FY19-20 stood at INR 1,761.04 crore as compared to INR 2,057.31 crore, that the company raked in last year.
During Q4 FY19-20, Uflex saw some important developments in terms of products and solutions. Its tubes business launched an eco-friendly paper-based tubes for the cosmetic and food industry. Depending on application and pack size, these tubes help reduce plastic consumption at source by up to 65% by replacing it with paper, Uflex said. The company launched a fast cure laminating adhesive for flexible packaging industry which ensures no change in coefficient of friction even after the process of lamination.
Uflex ramped-up its offerings with new innovations in cylinders. In order to add aesthetics, enhance quality and increase efficiency, the cylinders division at UFlex installed a new line and also launched speciality cylinders in the quarter. The cylinder business of UFlex installed a new automated chrome plating line for rotogravure cylinders that, according to the company, helps enhance efficiency and ensure consistency with improved print quality. It also launched water-based cylinders for customers looking for green and cost-effective printing processes.
Uflex said it has achieved high depth tissue paper embossing and cotton handbag paper embossing with the development of laser engraving specialized cylinders that produces holographic and 2D effects. The company also developed water based cylinder which achieve low ink GSM and low volatile organic compound.
Developments in engineering division
During Q4 FY19-20, the engineering business also came out with new developments. It developed secondary slitter Accuslit-25 for slitting of jumbo PET/BOPP and other films. The division also developed a special slitting machine with high re-winder diameter for pharma packaging.
Uflex also developed a machine for edible oil packaging. It can handle both virgin film as well as laminated films and has the capacity to pack one litre oil packs at a speed of 60 packs per minute.