Uflex closes quarter with blockbuster performance

Uflex declared its earnings for first quarter of FY2020-21 on 18 August. The company posted a stellar performance where the company’s consolidated net profit surged by 116.7% yoy to Rs 1,96.5-crore for Q1FY 2020-21. Consolidated total revenue for the first quarter of the fiscal 2020-21 stood at Rs 1m997.5-crore, a marginal increase of 0.78% yoy.

21 Aug 2020 | By Rahul Kumar

Uflex developed the Flex Protect PPE coverall in collaboration with IIT Delhi approved by DRDO

Rajesh Bhatia, group president (finance and accounts) and CFO, Uflex, said, “This has been a quarter of great progress for Uflex. With innovations seen in FlexiTubes, spout pouches and other product portfolio, we have been working relentlessly during these challenging times. The demand for pouching saw a huge increase led by personal hygiene category. This was reflected in our quarterly performance via higher sales volumes, huge surge in profitability and much healthier EBITDA margins of 21.1%. Even amidst the lockdown, we were able to complete the construction of our new facilities in Poland and Russian and start trial runs.”

Ashok Chaturvedi, chairman and managing director, Uflex, said, “The Covid-19 pandemic has been an epic test of leadership character. As an essential supplies player, Uflex had the humongous responsibility to ensure continuity of packaging material supplies for food and pharma, which is the lifeline in present context, and allied products. Team Uflex assumed its responsibilities and rose to the occasion in discharging their duties, despite daunting pressures on daily functioning when lockdowns were the order of the day.”

In Q1FY20-2021, Uflex made some noteworthy developments that are set to thrust the packaging sphere.

FlexiTubes to pack sanitisers in 30-200 ml sizes: This range proved to be an effective and attractive replacement to pack sanitisers that were earlier available in rigid packaging.

Easy tear structure for single-dose sanitisers: To meet the rising demand for sanitisers that can used be on-the go, Uflex Packaging Business has developed first-of-its-kind ‘easy tear structure’ for single dose sanitisers that offers ease of convenience and can be effortlessly opened by hand.

Flex Protect coverall: Uflex developed the Flex Protect PPE coverall in collaboration with IIT Delhi approved by DRDO, to enhance safety of frontline workers fighting the Covid-19 pandemic. Flex Protect Coverall meets the inadequacies of the conventional PPE coveralls with its anti-microbial coating and four layer security seal to protect against the virus and allows better breathability.

Six-layered N95 mask: These are six-layered personal protection masks without valve which are capable of filtering out bacteria and other particles greater than 0.3-micrometre so that the wearer can protect themselves from respiratory diseases.

Flexpack 5100, a semi-film forming PU for surface and reverse inks: Uflex Chemicals successfully launched Flexpack 5100, a semi-film forming PU developed for surface as well as reverse inks. It provides high gloss for surface inks and good lamination bond for reverse inks and provides suitability for both flexographic and gravure printing processes.