Uflex's top line for FY 2017-18 shows 9% growth

Noida-based Uflex, the manufacturer of flexible packaging materials, has declared the earnings for the quarter ended 31 March 2018.

29 May 2018 | By PrintWeek India

The consolidated total revenue for Q4 FY 2017-18 stood at Rs 1815.6-crore as compared to Rs 1625.7-crore in the last quarter of the previous fiscal thereby registering a 12% growth. 
At the operating level, EBITDA for the quarter ended 31 March 2018 stood at Rs 229.3-crore as compared to the quarter ended 31 March 2017 when it was Rs 225-crore thereby up by 2%. 
The consolidated net profit for Q4 FY 2017-18 at Rs. 71.1-crore dropped by 28% with respect to the same quarter in the previous fiscal, primarily due to increased depreciation cost on account of commissioning of aseptic packaging plant and higher tax outgo.
The consolidated top line for FY 2017-18 stood at Rs 6720.5-crore recording a 9% YoY growth. EBITDA for the fiscal ended 31 March 2018 remained at Rs 902.6-crore. During FY 2016-17 the EBITDA stood at Rs 898.9-crore. Consolidated net profit for FY 2017-18 has been Rs 310.5-crore as compared to Rs 348.5-crore in FY 2016-17.
While approving and adopting the audited annual accounts for the FY 2017-18, the board has recommended a dividend of 20% subject to approval by the shareholders of the company.
Rajesh Bhatia, Global CFO, Uflex said, “The tangible volumes are perfect and most reliable growth indicators for the flexible packaging industry. We produced more and sold more in FY 2017-18. The total production volume has been up by 8.5% in FY 2017-18. The total sales volume has also echoed the same trend and has been up by 8.6% in FY 2017-18 when compared to the previous fiscal.”
Talking individually about films segment, the sales volumes grew by 8% in FY 2017-18. While for the packaging segment the sales volumes grew by 12% in FY 2017-18. 
“Aseptic Packaging, which was commissioned during FY 2017-18 is gradually ramping up and we are already supplying to more than 12 customers. The trial runs are ongoing with some of the large customers and will surely culminate in sales in the current financial year,” added Bhatia.
Chairman and managing director, Uflex, Ashok Chaturvedi said, “As I reflect upon the last financial year, I am filled with a sense of joy about the path-breaking flexible packaging innovations that our engineers came up with. These innovations are progressive and bring real value to the businesses of our clients spread across the globe.”
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