New Delhi, Feb 12, 2014:– Uflex Ltd, the Bombay Stock Exchange (UFLEX: 500148) and NSE listed, India’s largest flexible packaging company, has achieved a consolidated revenue for the quarter ended December 31, 2013 at Rs. 1474 crore as against Rs. 1295 crore for the same period last year. Its consolidated net profit for the Dec. quarter of FY 2014 stood at Rs. 53 crore, against Rs. 36 crore for the same period last year.
For the nine months period ended December 31, 2013, UFlex recorded net profit of Rs. 142 crore against Rs. 149 crore in the corresponding period last year, while net revenue of the company for the nine months ended Dec. 31, 2013 stood at Rs. 4388 crore compared Rs. 3940 crore in the same period in previous fiscal.
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, “Our three pronged strategy of growth with innovation, proximity to customers with quick & prompt deliveries and focus on operational excellence is the key to our success story that also reflects in the company’s top line growth. The reviving global economic fundamentals and improving consumer sentiments have started showing positive movements in the bottomline of companies and we are hopeful that it will show up better in the coming times as well. We are quite confident that FY 2014-15 would witness far better results.”
“We will continue with our endeavors to become one of the leading packaging companies in the globe delivering value to our customers with best-in-class products and services; and incremental return on investments to investors.” Added Mr Chaturvedi.
For the full financial year ended March 31, 2013, UFlex had recorded a strong growth of 14% in consolidated net revenues at Rs. 5161 crore as against Rs. 4516 crore during a year ago, on the back of favourable demand trends globally.
Uflex’s strong manufacturing base in India, Mexico, Dubai, Egypt, Poland and USA 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 existing and newer locations to increase proximity to the markets, but also to bring broad portfolio of value added products to its clients at competitive price points. Accordingly, the Company has been working on its expansion plans to achieve its growth plans in future.
The company offers its flexible packaging products and solutions globally to clients including 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, Birla 3M, among others.
About UFLEX Ltd
UFLEX Ltd (www.uflexltd.com) is the Bombay Stock Exchange (UFLEX: 500148) and NSE listed India’s largest flexible packaging company with large manufacturing capacities of plastic film and packaging products providing end-to-end solutions to clients across more than 140 countries. 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, Gravure Printing, Lamination and Pouch formation.
UFLEX offers finished packaging of a wide variety of products such as snack foods, candy and confectionery, sugar, rice & other cereals, beverages, tea & coffee, desert mixes, noodles, wheat flour, soaps and detergents, shampoos & conditioners, vegetable oil, spices, marinates & pastes, cheese & dairy products, frozen food, sea food, meat, anti-fog, pet food, pharmaceuticals, contraceptives, garden fertilizers and plant nutrients, motor oil and lubricants, automotive and engineering components etc…
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