05.28.19
Uflex Ltd., India’s largest multinational flexible packaging company, announced its earnings for the quarter ended March 31, 2019 and financial year 2018-19.
The consolidated net revenue for Q4FY18-19 rose to INR 2060.6cr ($296 million) as compared to INR 1818.8cr ($261.6 million) in the corresponding quarter last fiscal, while the company registered EBITDA growth of 13.4% at INR 260.1cr ($37.4 million) in Q4FY18-19. For full year 2018-19, the consolidated net revenue grew 18.5% to INR 7974.8cr ($1.147 billion) and EBITDA increased by 11.6% to INR 1007.5cr ($145 million).
In FY2018-19, the Films Business achieved highest ever production of 316923 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.
“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,” Ashok Chaturvedi, chairman and managing director, Uflex Limited, said. “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 metallized) into granules. The latest technology enabled recycling machine was installed at our Noida plant, this quarter.
“The flexible packaging industry continues to evolve with changing consumer expectations and among the most prominent are sustainability and customization,” Chaturvedi added. “With solutions for waste plastic being created, we are confident of the demand for flexible packaging growing further, in the coming years. ”
The consolidated net revenue for Q4FY18-19 rose to INR 2060.6cr ($296 million) as compared to INR 1818.8cr ($261.6 million) in the corresponding quarter last fiscal, while the company registered EBITDA growth of 13.4% at INR 260.1cr ($37.4 million) in Q4FY18-19. For full year 2018-19, the consolidated net revenue grew 18.5% to INR 7974.8cr ($1.147 billion) and EBITDA increased by 11.6% to INR 1007.5cr ($145 million).
In FY2018-19, the Films Business achieved highest ever production of 316923 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.
“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,” Ashok Chaturvedi, chairman and managing director, Uflex Limited, said. “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 metallized) into granules. The latest technology enabled recycling machine was installed at our Noida plant, this quarter.
“The flexible packaging industry continues to evolve with changing consumer expectations and among the most prominent are sustainability and customization,” Chaturvedi added. “With solutions for waste plastic being created, we are confident of the demand for flexible packaging growing further, in the coming years. ”