BWI: UFLEX Ltd Q2 FY 2014 Consolidated Net Revenue at Rs. 1516 crore and Net Profit at Rs. 46 crore

Press release from Business Wire India
Source: UFLEX Limited
Friday, November 08, 2013 08:38 PM IST (03:08 PM GMT)
Editors: General: Economy; Business: Banking & financial services, Business services, Chemicals, Financial Analyst, Stock exchanges
--------------------------------------------------
UFLEX Ltd Q2 FY 2014 Consolidated Net Revenue at Rs. 1516 crore and Net Profit at Rs. 46 crore


New Delhi, Delhi, India, Friday, November 08, 2013 -- (Business Wire India) -- Uflex Ltd, the Bombay Stock Exchange (UFLEX: 500148) and NSE listed, India's largest flexible packaging company maintaining a sustained growth trajectory, has achieved a consolidated revenue for the September quarter of FY 2014 of Rs. 1516 crore as against Rs. 1250 crore for the same quarter last year.

On a sequential basis, the company registered growth in its quarter-on-quarter consolidated net revenue of Rs. 1516 crore and net profit at Rs. 46 crore, over consolidated net revenue and net profit figures of the preceding quarter that stood at Rs. 1398 crore and at Rs. 43 crore respectively in the April-June quarter (Q1 FY13-14).

For the six months period ended September 30, 2013, UFlex recorded Consolidated revenue at Rs. 2914 crore compared to Rs. 2626 crore in the same period in previous fiscal and net profit of Rs. 89 crore against Rs. 113 crore in the corresponding period last year.

While the higher revenue growth is attributed to new capacity added by the company since the manufacturing facilities in Poland and Kentucky in US commenced commercial production over the last year and also witnessing favourable demand trends for its innovative flexible packaging solutions, which saw increased uptake from clients globally whereas the profit margins are showing improvements quarter over quarter during the current year.

According to Mr. Ashok Chaturvedi, Chairman and M.D. of UFLEX Ltd, "The higher revenue growth has come on the back of increased manufacturing capacities at our disposal with the newly commissioned facilities in Poland and Kentucky which resulted in expanding our market reach and improving response time to the demand from the regions that these facilities address. Innovation and expansion are two aspects that Uflex is always eagerly pursuing and has ensured that we maintain our steady growth trajectory."

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 Kentucky 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.

Expansion Plans

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.

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...




CONTACT DETAILS
T. Anand Mahesh, +91 9870716285, anand@mavcommgroup.com
Neeraj Atri, +91 9811714871, neeraj@mavcommgroup.com

KEYWORDS
ECONOMY, BANKING, BUSINESS SERVICES, CHEMICALS, Financial Analyst, STOCK EXCHANGES

If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.

Submit your press release at http://www.businesswireindia.com