Uflex’s net revenue up by 18.5% for FY2018-19

Uflex announced its earnings for the quarter ended March 31, 2019 and Financial Year 2018-19 on 27 May 2019. According to the report, the consolidated net revenue for Q4FY18-19 rose to Rs 2,060.6-cr as compared to Rs 1,818.8-cr in the corresponding quarter last fiscal; while the company registered EBITDA growth of 13.4% at Rs 260.1-cr in Q4FY18-19.

10 Jun 2019 | By Rahul Kumar

Ashok Chaturvedi, chairman and managing director, Uflex

For full year 2018-19, the consolidated net revenue grew 18.5% to Rs 7,974.8cr and EBITDA increased by 11.6% to Rs 1,007.5-cr. The full year consolidated PAT was marginally up by 1.07% at Rs 313.8-cr.

In FY2018-19, the films business achieved highest ever production of 31,6923 MT. The improved financial performance has resulted in CRISIL assigning higher credit rating of ‘A’ to long-term debt of the company.

The board has recommended a dividend payout of 20%, subject to shareholders’ approval.

Rajesh Bhatia, Group CFO at Uflex, said, “Our total production and sales volume for FY 18-19 grew 6.1% and 6.7% to 397492 MT and 39,5634 MT respectively. BOPET market continues to be robust resulting in higher capacity utilisation across all plants. BOPP market has also shown substantial improvement in Q4 and we expect this trend to continue in FY19-20.”

Ashok Chaturvedi, chairman and managing director, Uflex, said, “We worked diligently towards combating the headwinds that came along this fiscal and remained successful in leading the market with our innovations and product offerings. We have been highly focused on the challenge of Multi-layer plastic recyclability and have developed a technology that converts different layers of multi-layer packaging waste (printed, laminated and metallised) into granules. The latest technology enabled recycling machine was installed at our Noida plant, this quarter.”

He added, “The flexible packaging industry continues to evolve with changing consumer expectations and among the most prominent are sustainability and customisation. With solutions for waste plastic being created, we are confident of the demand for flexible packaging growing further, in the coming years. ”

Among the key product launches and developments in Q4 FY18-19, Uflex launched metallic dies for hot-foil stamping and embossing on printed labels and packs and Flex Films India launched a host of films with cutting edge technology and properties, embedded in each.

 During the period, the company also introduced an IIOT-enabled converting machine, and an extrusion coating and lamination machine EX LAM 400. Also, Uflex became the first-ever Indian company to make gearless CI flexo model Elisa designed with maximum operating speed of 400-mpm with high automation level, in the form of sleeves and anilox removal system. The company also introduced the solventless laminator machine Super-S-1300 which offers microprocessor-based thermo-regulation system and can run metalised structures up to a speed of 300-mpm, while others can run up to a speed of 450-mpm.