UFlex’s streak of strong performance continues in Q1 FY22
In its earnings for the quarter ending June 2021 announced recently, UFlex continued with its growth momentum and posted a consolidated net profit of Rs 264-crore which surged by 34.4% yoy and its consolidated EBITDA stood at INR 502.4-crore, rising by 19.3% yoy to for Q1 FY2020-21. The consolidated total revenue registered by the company for the first quarter of the fiscal 2021-22 was Rs 2,761.2-crore, an increase of 38.2% yoy. Total production volume during Q1 FY2021-22 was 1,38,876 metric tonnes (MT) clocking a growth of 30% yoy whereas total sales volume was 1,33,476 MT, an increase of 29.8 % yoy.
23 Aug 2021 | By Rahul Kumar
Ashok Chaturvedi, chairman and managing director, Uflex
Rajesh Bhatia, group president (finance and accounts) and CFO, UFlex said, “Despite the headwinds in raw material prices and freight costs, we maintained consistent supply chain operations and simultaneously focused on volume-led profitable growth backed by enhanced capacities from recently commissioned plants, including Hungary BOPP plant which was commissioned during the quarter.”
He added, “The flexible packaging volumes were affected due to the second Covid-19 wave that struck India in Q1FY22. Our EBIDTA margins stood at 18.2% in Q1FY22 as compared to 21.1% in the same quarter last year.”
Ashok Chaturvedi, chairman and managing director, UFlex said, “UFlex has been on the path to fulfill its vision to get closer to its patrons with manufacturing units across the world with the BOPP line in Hungary commissioned and Nigeria set to be commissioned. With consumers getting more mindful of what and how they consume, the packaging industry needs to be proactive in developing sustainable packaging without compromising on convenience and functional attributes of plastic. UFlex has progressed in developing green products and solutions such as biodegradable packaging, water soluble bags and more, which will not only meet the approval of consumers but also uplift their perception of the flexible packaging industry.”
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