Uflex income for Q1 FY 2018-19 up by 17.5%

India’s largest multinational flexible packaging materials and solution company, Uflex, has declared the earnings for the Quarter ended 30 June 2018, according to which the company has been maintaining a sustained growth curve and achieved the consolidated income for the quarter ended 30 June 2018 of Rs 1,912 crore as against Rs 1,627 crore for the same period last year, thus registering a growth of 17.5%.

13 Aug 2018 | By Dibyajyoti Sarma

The consolidated EBITDA for the quarter ended 30 June, 2018 has been higher at Rs 255 crore as against Rs 237 crore for the same period last year up by 7.9%, and as against Rs 229 crore for the quarter Jan-March 2018, up 11.3%. The profit after tax for the quarter ended 30 June 2018 is also higher at Rs 94 crore.

Talking about the numbers, Rajesh Bhatia, global CFO, Uflex, said, “Buoyed by the highest ever quarterly production and sales volumes, Uflex achieved revenue growth of 17.5% in Q1 FY 18-19 over Q1 FY 17-18, thus registering highest ever revenue in a quarter. During Q1 FY 18-19, overall production volumes grew by 11.6% and sales volumes grew by 14.9%.” 

He said the subsequent quarters for FY 2018-19 are likely to witness incremental export sales volume from the recent customer acquisitions. “Aseptic Packaging has increased its customer reach and is now supplying to about 20 customers. The trial runs are on-going successfully with some of the large customers,” Bhatia added.

Ashok Chaturvedi, chairman and managing director, Uflex, said, “Q1 of Financial Year 2018-19 has witnessed significant production & sales volume growth. The margin in packaging films business have improved while the flexible packaging business margins were impacted by the lag effect of about 17% increase in the crude oil prices during the quarter. The fast evolution of our technology, aided us to launch several products in the quarter ended 30 June 2018 that continue to meet the demands of the ever changing customer needs which also adds value to the businesses of our esteemed clients globally.”

He said it was a matter of pride to be able to contribute to Indian Space Research Organization’s endeavour of development of Satellite Thermal Radiation Insulation film and becoming self-reliant in space technology applications. “All this has been accomplished through the unrelenting hard work by the metallising team of Flex Films India without which it would not have been possible for us to accomplish this goal,” he added.

Meanwhile, the company has been certified by the Indian Banks’ Association (IBA) as a security printer for printing MICR instruments for its member banks. “Since we possess all required systems, technology and infrastructure, the Indian Bank’s Association conferred this certification to us and has given us the opportunity for security printing MICR instruments which is a big honour and responsibility in itself,” Chaturvedi said.