India’s largest multinational flexible packaging materials and solution company, Uflex Limited has registered 6.12% (Y-O-Y) growth in its consolidated net profit for the first six months of the ongoing fiscal (FY 2017-18). In figures, the net profit for H1 ended 30 September 2017 stood at Rs. 187.3 crore as against Rs. 176.5 crore in the previous fiscal.
At operating level, the consolidated EBITDA in the first half of the current fiscal stood at Rs. 473 crore while that in the year before was Rs. 461.5 crore clocking in a Y-O-Y growth of 2.49%.Half-yearly consolidated total revenue for FY 2017-18 stands at Rs. 3224.5 crore clocking top line growth of 5.47% w.r.t previous fiscal when the total revenue stood at Rs. 3057 crore.
The quarter ended 30 September 2017 witnessed a 4.31% (Y-O-Y) growth in the consolidated net profit with the bottom line standing at Rs. 94.3 crore as against Rs. 90.4 crore in the quarter ended 30 September 2016.The consolidated total revenue for the quarter ended 30 September 2017 stands at Rs. 1600 crore as against Rs. 1540.7 crore for the same period in the previous fiscal, thereby growing by 3.84%.
Talking more about the earnings, Rajesh Bhatia, group president (finance & accounts), who has recently joined the organization 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 9% in Q2 FY 2017-18 when compared to Q2 FY 2016-17 with films and packaging businesses individually registering 9% and 7% growth respectively. Similarly for the half year ended 30 September 2017, the sales volume grew by 7% as compared to the same period in the previous fiscal. Individually both films and packaging businesses also grew at 7% each. Owing to the fully backward integrated capabilities of our business and the rate at which we are coming up with bespoke value-added flexible packaging solutions and specialty films for our clients globally the demand for our products will only get better here on. This coupled with Asepto our liquid packaging material brand will further improve the bottom-line in times to come.”
In an official document released soon after the declaration of earnings for Q2 FY 2017-18, Mr. Ashok Chaturvedi, chairman and managing director, Uflex Limited said, “Progressive engineering is what we have always believed in and have never shied away from replacing our own products with newer and enhanced variants that our teams keep developing in order to add value to our clients’ businesses globally. We do this with the help of best-in-class cutting edge technology coupled up with immaculate R&D by some of the sharpest brains of the industry by our side. Asepto, our liquid packaging material brand, has created a lot of excitement in the market and is all geared to help the Indian non-aerated liquid brands stand on two feet with a stable supplier base. Brand Asepto recently made its debut at Gulfood Manufacturing with an overwhelming response. I am extremely thankful to our clients for posing same faith and confidence in Asepto as they have been extending to our other flexible packaging solutions over the last three decades. These are exciting times and we will continue to delight our stakeholders with the most optimized, efficient, innovative and value-added packaging solutions as we grow from strength to strength!”