Uflex Posts Highest Ever Quarterly Production Volume in Q2FY18-19

Uflex Limited reported 10.6% increase in overall sales volume on a year-on-year basis, thereby achieving its highest ever consolidated net revenue of INR 2020.8 crore ($310.9 million) for the quarter ended Sept. 30, 2018. The consolidated net revenues showed a jump of 26% from INR 1603.8 crore in the same quarter last fiscal year. Uflex also achieved the highest ever quarterly total production volume of 102,442 MT.
 
The consolidated EBITDA for Q2FY18-19 increased by almost 12% year-on-year to INR 264.6 crore from INR 236.5 crore. The consolidated net profit for Q2FY18-19 at INR 95.7 crores was higher by 1.5% year-on-year.
 
“In the flexible packaging industry, a reliable indicator of growth is volume, which conspicuously reflects the demand of the company’s products,” Rajesh Bhatia, Group CFO at Uflex Limited, said. “The overall sales volume grew by 10.4% to 79,992 MT for Packaging Films and 11.6% to 21,089 MT for Packaging in Q2FY 2018-19 on a year-on-year basis.”
 
“During the first half of Financial Year 2018-2019, we continued to focus on our growth through new product innovation and developing sustainable solutions for our customer network across the world,” Ashok Chaturvedi, chairman and managing director, Uflex Limited, said. “Uflex’s path-breaking innovation Waterless Internet Flower Packaging walked away with top honors at the Sustainability Award 2018 and Dow’s 2018 30th Awards for Packaging Innovation. These awards are a reaffirmation of our efforts in optimizing sustainability footprint and business performance standards to deliver the highest levels of quality to our customers since sustainable development is the real pathway to the future we want for all.”
 
On the ink side, Uflex launched FLEXGREEN, a series of UV-LED process colors for sheetfed offset printing on coated paper, paperboard and MetPet Board that assures energy efficiency, and a new PU-based NTNK ink series FLEXGLIDE 1817, which is compliant with Swiss Ordinance and caters to the special needs of blister packing for the pharma industry.