UFlex reports strong Q3 FY 21-22 results

New film capacities add to volumes

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UFlex
UFlex numbers for the first three quarters of FY 2021-22

On Monday 14 February 2021, Uflex ended the day as the biggest gainer amongst the S&P BSE list on the Bombay Stock Exchange. The stock closed at Rs 551.30, up by 8.3%, rallying after it released good Q3 results at the end of the previous working week. 

In Q3 from October to December 2021, the company’s production volume reached a record 153,441 metric tons. The jump of 38% over the same period last year is a result of expansion and installations of new lines in the previous quarters. Sales also increased by 38%, reaching 154,224 metric tons.

The company’s total revenue grew Q3, to Rs 3463.42 crore from Rs 2072.55 crore in Q3 of FY20-21, an increase of 67.11%. The profit after tax for the quarter was reported at Rs 607.79 crore, up by 47.98% in comparison to the same period of the previous financial year. However, margins contracted to 17.55% from 19.5% in the same period of last year – a result of higher raw material and input costs. The margin pressure may continue with rising crude prices and the possible disruptions in the energy markets in Europe.

The Noida-based multinational packaging materials company continues to add capacity which should reflect in forthcoming quarters. Its new Asepto line at the Sanand plant should be commissioned soon and a new packaging film line is to come up at the greenfield site in Karnataka in South India. The homegrown multinational company has packaging facilities in Noida, Haridwar, and Jammu and the upcoming plant in Karnataka in India. In addition, its global manufacturing plants are in Dubai, Egypt, Nigeria, Poland, the US, Russia, and Hungary.

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Editor of Indian Printer and Publisher since 1979 and Packaging South Asia since 2007. Trained as an offset printer and IBM 360 computer programmer. Active in the movement to implement Indian scripts for computer-aided typesetting. Worked as a consultant and trainer to the Indian print and newspaper industry. Visiting faculty of IDC at IIT Powai in the 1990s. Also founder of IPP Services, Training and Research and has worked as its principal industry researcher since 1999. Author of book: Miracle of Indian Democracy. Elected vice-president of the International Packaging Press Organization in May 2023.

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