Uflex Ltd, the Bombay Stock Exchange and NSE listed, India's largest flexible packaging company, has grown from strength to strength registering a 22% increase in its consolidated net revenue for the quarter ended June 30, 2012 at Rs. 13.76bn as against Rs. 1125 crore for the same period last year.
The firm's consolidated net profit for the June quarter of 2012 stood at Rs. 560mn as against Rs. 960mn for the same quarter last year. However, sequentially, the revenue and net profit for Qtr. June, 2012 viz – viz Qtr. March, 2012 has grown by 16% and 5% respectively. The higher revenue growth is attributed to new capacity expansion globally and increased uptake of innovative flexible packaging solutions offered by the company across sectors.
According to Mr. Ashok Chaturvedi, Chairman and M.D. of UFLEX Ltd, “The higher revenue growth has come on the back of increasing manufacturing capacities across our facilities in Egypt, Mexico, Dubai and India corresponding to the increasing demand trends where we were quick to offer our products and services. Innovation and expansion are two aspects that Uflex is always eagerly pursuing. Identifying and harnessing the opportunity at the right time has been the key to our strong foothold in the flexible packaging market globally.”
UFLEX has been undertaking expansion plans across its present manufacturing locations and expanding in to new geographies with facilities in Poland and Kentucky, USA. With plans of new manufacturing facilities in place and corresponding investments UFLEX is all set to achieve the next milestone of touching the $2 billion revenue mark by next 3 - 4 years.
Uflex closed the financial year ended March 31, 2012 on a strong note registering a growth of 30% in consolidated net revenues at Rs. 4543 crore as against Rs. 3540 crore for the previous year, on the back of favourable demand trends globally.
Uflex's strong manufacturing base in India, Mexico, Dubai and Egypt caters to global markets spanning USA, Canada, South America, UK, Europe, Russia, CIS countries, South Africa and other African countries, the Middle East and the South Asian Countries.
UFLEX’s agenda of global expansion and consolidation of its position as a truly Indian MNC (Multinational Corporation) is reinforced with its strategy of capacity expansion and adding manufacturing lines for various product categories across facilities in Dubai, Mexico, Egypt, India, Poland & USA – not only to increase proximity to the markets, but also to bring broad portfolio of value added products to its clients at competitive price points.
During the financial year ended March 31, 2012, Uflex Ltd completed the 2nd phase of expansion of its facility in Mexico aggregating a total capacity of 60000 MT of PET film and commissioned an AL-OX coater, CPP plant of 12000 MTs and PET film of 30,000 MTs in Egypt.
Earlier, Uflex had initiated the setting up of a new plant for manufacturing of 30,000 MTs of polyester film in Poland. The project is now commissioned successfully.
The Company also announced plans to set up polyester film plant in Kentucky, US. The 1st phase will be commissioned by December 2012 having annual capacity of 30000 MTs.
Uflex is the only integrated unit of its kind in the world with flexible packaging at its core. It has vast capacities for production of Polyester chips, Biaxially Oriented Polyethylene Teraphthalate (BOPET) and Biaxially Oriented Polypropylene (BOPP) films, Printing & Coating Inks, facilities for Holography, Metalization & PVDC coating, making Gravure Printing Cylinders & Flexo Printing plates, Gravure Printing, Lamination and Pouch formation.
The company's partial client list includes Unilever, Pepsi, Wrigley, Procter & Gamble, Colgate, Palmolive, Nestle, Gillette, Ranbaxy, Perfetti, Joyco, Monsanto, ITC, Godrej Pillsbury, Tata Tea, Hindustan Petroleum, Indian Oil, Britannia, Dabur, Haldiram, Wockhardt, HUL, Parle Biscuit, and Birla 3M, among others.