UFlex Clocks 6.8% Increase in Sales Volume in Q4 2024

UFlex Limited reported its audited consolidated net revenue for Q4 FY24 at Rs. 34,967 million ($419 million), up by 4.5% QoQ and 3% YoY. The adjusted EBITDA for the quarter stood at Rs. 4,550 million ($54 million), up by 6.9% QoQ and 6.3% YoY. The  adjusted EBITDA margin stands at 13%, increasing by 30 BPS QoQ and 40 BPS YoY.

The overall sales volume grew by 10.5% YoY, including volume growth of 13.7% and 1.5% YoY in the films and packaging business respectively.

“FY24 has been a year of consolidation and UFlex has made significant inroads in achieving raw material self-sufficiency by commissioning a PET chips plant at Panipat, India and PCR (post-consumer recyclate) plants in Mexico and Egypt,” said Ashok Chaturvedi, chairman and managing director, UFlex Limited. “With the commissioning of a PET chips plant in Egypt in FY25, UFlex will achieve substantial PET chips raw material security. The year also witnessed the highest-ever production and sales volume in our aseptic packaging business.

“We are confident that our vertical integration strategy, new global capacities, and the ability to develop sustainable, innovative, and customized solutions will help us deliver long-term value,” Chaturvedi added. “Progressing toward net-zero emissions by 2035, we continue to invest in sustainable operations and a robust product portfolio — reaffirming our commitment to spearheading the industry’s transition toward a sustainable future”.

Demonstrating its commitment to environmental responsibility, UFlex aims to achieve net-zero status by 2035, underscoring its dedication to sustainability since the early 1990s.

“In Q4, we have witnessed an increase in sales volume despite a challenging environment and a 6.8% YoY adjusted EBITDA increase to Rs. 4,550 million,” said Rajesh Bhatia, group CFO, UFlex. “Our diversified product portfolio continues to pay dividends and packaging (including aseptic packaging and holography) continues to fuel the growth engine for UFlex.”