UFlex, India’s largest multinational in flexible packaging solutions and a global leader in polymer sciences, announced on 28 May 2022 its business performance results for the quarter and full-year ending 31 March 2022. The company posted consolidated EBITDA at 734.4 cr for Q4 FY22, up by 42.2% YoY whereas the consolidated net profit stood at 350.3 cr, witnessing a gain of 32.3% YoY. The consolidated revenue registered a rise of 52.2% YoY to reach INR 3915.1 cr, in the said quarter.
The growth in revenue was backed by higher production and sales volumes of Packaging films and Packaging businesses. Total Production volume witnessed a jump of 26.2% YoY to reach 160475 MT in Q4FY22 whereas Total Sales volume jumped by 20% YoY to reach 164079 MT in Q4FY21-22.
For FY2021-22, the company achieved consolidated Revenue of INR 13224.7 cr rising by 48.3% YoY driven by 29.3% sales volume growth. The consolidated EBITDA for FY2021-22 registered a growth of 24.8% YoY to reach INR 2280 cr and consolidated net profit rose by 30.3% YoY to INR 1098.3 cr for the same period. The EBITDA margin for FY 21-22 remained healthy at 17.2%.
Rajesh Bhatia Group CFO, UFlex said, “Our performance in the quarter is reflective of our determined approach to match the fast-paced consumption environment with enhanced production volumes. Across all fronts – be it production/sales volumes, Revenue, EBITDA and PAT, new highs have been achieved in Q4 as well as in full FY 21-22. We recently commissioned our new line in Aseptic Liquid Packaging facility at Sanand, Gujarat thereby doubling its capacity to 7bn packs per annum.
Bhatia added, “More good news poured in also with credit rating agency CRISIL upgrading our company’s short term rating to A1+ and long term rating to AA- inferring improvement in the business and financial risk profile, thus reinforcing our leadership position in the flexible packaging industry.”
Sharing his outlook on the industry and company, Ashok Chaturvedi, chairman and managing director UFlex, said, “What excites me most about the year ahead is the opportunities that will originate from the much talked about new Plastic Waste Management (Amendment) Rules 2022 in India, and our readiness to embrace them. As a socially responsible organization that has been leading the way in sustainable solutions, we are setting-up India’s first U-shaped paper straw line for aseptic carton packs at our Sanand plant, which is already gaining traction from many beverage brands considering the impending ban on single-use plastic. With our extensive R&D strength and innovative spirit, we are deep into creating future-ready solutions in plastic packaging for our clientele, including advanced biodegradable solutions, so that we can together step closer towards a sustainable tomorrow.”