BWI: UFLEX Ltd Q2 FY 2013 Net Revenue Up 16% at Rs. 1250 crores

Press release from Business Wire India
Source: UFLEX Limited
Monday, October 29, 2012 10:33 AM IST (05:03 AM GMT)
Editors: General: Economy, People; Business: Banking & financial services, Business services, Chemicals, Financial Analyst; Technology
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UFLEX Ltd Q2 FY 2013 Net Revenue Up 16% at Rs. 1250 crores


New Delhi, Delhi, India, Monday, October 29, 2012 -- (Business Wire India) -- Uflex Ltd, the Bombay Stock Exchange (UFLEX: 500148) and NSE listed, India's largest flexible packaging company, has grown from strength to strength registering a 16% increase in its consolidated revenue for the quarter ended Sept. 30, 2012 at Rs. 1250 crore as against Rs. 1078 crore for the same period last year. Whereas the firm's consolidated net profit for the Sept. quarter of 2012 stood same at Rs. 57 crore as during corresponding quarter last year. 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, "The higher revenue growth has come on the back of increasing manufacturing capacities across our facilities in Egypt, Mexico, Dubai, Poland and India corresponding to the increasing demand trends where we were quick to offer our products and services. Innovation and expansion are two aspects that Uflex is always eagerly pursuing. Identifying and harnessing the opportunity at the right time has been the key to our strong foothold in the flexible packaging market globally."

Uflex's strong manufacturing base in India, Mexico, Dubai, Egypt and Poland 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 facilities in Dubai, Mexico, Egypt, India, Poland & USA - not only to increase proximity to the markets, but also to bring broad portfolio of value added products to its clients at competitive price points.

Having completed the expansion in Poland successfully during July, 2012, UFlex has been on the path of speedy commissioning of the project in Kentucky, USA.

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 120 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.

The company's partial client list includes 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, and Birla 3M, among others.



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

KEYWORDS
ECONOMY, PEOPLE, BANKING, BUSINESS SERVICES, CHEMICALS, Financial Analyst, TECHNOLOGY

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