India’s flexible packaging giant, Uflex Limited reported 10.6% increase in overall sales volume on year-on-year basis, thereby achieving highest ever consolidated net revenue of INR 2020.8 crore for the quarter ended 30 September 2018. The consolidated net revenues showed a jump of 26% from INR 1603.8 crore in the same quarter last fiscal. Uflex also achieved the highest ever quarterly total production volume of 102442 MT.
The consolidated EBITDA for Q2FY18-19 increased by almost 12% Y-O-Y to INR 264.6 crore from INR 236.5 crore. The consolidated net profit for Q2FY18-19 at INR 95.7 crores was higher by 1.5% Y-OY.
Commenting on the earnings, Rajesh Bhatia, group chief financial officer at Uflex Limited said, “In the flexible packaging industry, a reliable indicator of growth is volume which conspicuously reflects the demand of the company’s products. The overall sales volume grew by 10.4% to 79992 MT for packaging films and 11.6% to 21089 MT for packaging in Q2FY 2018-19 on a year-on-year basis.”
Ashok Chaturvedi, chairman and managing director, Uflex Limited said, “During the first half of financial year 2018-2019, we continued to focus on our growth through new product innovation and developing sustainable solutions for our customer network across the world. Uflex’s path-breaking innovation Waterless Internet Flower Packaging walked away with top honors at the Sustainability Award 2018 and Dow’s 2018 30th Awards for Packaging Innovation. These awards are a reaffirmation of our efforts in optimizing sustainability footprint and business performance standards to deliver the highest levels of quality to our customers since sustainable development is the real pathway to the future we want for all.”
He added, “This quarter also saw the launch of FlexFilms’ eCommerce website by Flex-BuzzR, which will make a complete range of film offerings from our active production site in Poland available to customers in European region, at a click of a button. This B2B platform has been launched with the intent to supplement Flex Films existing brick-and-mortar business model.”
Few more key launches in Q2 FY18-19 include Uflex’s liquid packaging brand Asepto introducing a holographic packaging with unique striking effects ‘ASEPTO SPARK’; FLEXGREEN, a series of UV-LED process colors for sheetfed offset printing on coated paper, paperboard and MetPet board that assures energy efficiency; two new BOPET films with superior properties; a new PU-based NTNK ink series ‘FLEXGLIDE 1817’ which is compliant with Swiss Ordinance and caters to the special needs of blister packing for pharma industry; and a 100% bio-degradable premium lens transfer paper/paperboard for carton packaging, with the novel use of different technologies of Fresnel lens.