Uflex Ltd. Results

H1FY25 & Q2FY25 Result Announced for Uflex Ltd.

Containers & Packaging company Uflex announced H1FY25 & Q2FY25 results Q2FY25 Financial Highlights: 66,927 MTPA sales volume during the quarter. Net revenue of Rs 19,689 million. EBITDA of Rs 2,152 million. EBITDA margin at 10.9%. PAT of Rs 377 million. H1FY25 Financial Highlights: 132,577 MTPA sales volume during H1FY25. Net revenue of Rs 38,430 million. EBITDA of Rs 4,384 million. EBITDA margin at 11.4%. PAT of Rs 855 million. Ashok Chaturvedi, Chairman and Managing Director, UFlex Group, said: “We are pleased with the robust growth in sales volume, revenue, and normalized EBITDA for the second consecutive quarter of FY25. The planned commissioning of our aseptic packaging facility in Egypt in FY26 is a key milestone in our global growth strategy, and we are confident of replicating the success of our aseptic packaging business across international markets. With this, we set our sights on a global manufacturing footprint for our aseptic business. We are pleased to announce the successful launch of our 25K aseptic filling and sealing machine. We have delivered the first machine, and it is running successfully in full swing at our customer’s plant. We are extremely confident about the market opportunity and competitive advantage of this machine. At the heart of our business strategy is a steadfast commitment to sustainability, essential for environmental stewardship and long-term value creation. Going ahead, our focus will be on growing our key markets, expanding our footprint, strengthening our global recycling infrastructure, and investing in artificial intelligence and machine learning to reduce our carbon footprint and increase our operational efficiencies. As a company, we take our role in innovation seriously, and we will continue to develop pioneering solutions to deliver on the changing regulatory and consumer landscape”. Rajesh Bhatia, Group president and CFO, UFlex, said: “Our Q2FY25 results reflect our sustained solid YoY growth trajectory, with sales volume up 10.9%, revenue increasing 13.7%, and normalized EBITDA rising 10.7%. In the first half of the current fiscal year, sales volume increased by 10.7%, revenue grew by 13.0%, and normalized EBITDA witnessed an impressive 253.9% increase. This strong first half sets the stage for an even better second half.” "Looking ahead, we are expanding capacity at the Sanand facility, adding 5 billion cartons post-debottlenecking and commissioning 216,000 MTPA virgin PET chips plant at Egypt and 18,000 MTPA CPP line, which will drive the revenue, profitability, growth in FY25 and beyond." “Our Mexico plant showcased outstanding performance in the first half of the fiscal year, achieving 13.3% growth in sales volume and 34.3% increase in revenue.”

Q1FY25 Quarterly Result Announced for Uflex Ltd.

Containers & Packaging company Uflex announced Q1FY25 results: 65,650 MTPA sales volume during the quarter. Net revenue of Rs 18,741 million. EBITDA of Rs 2,232 million. EBITDA margin at 11.9%. PAT of Rs 478 million. Commenting on the results, Ashok Chaturvedi, Chairman and Managing Director, UFlex Group,said, “We had a strong quarter, especially in the packaging films and solutions segment where we have seen both year-on-year and quarter-on-quarter growth in volumes coupled with growth in margins. The PET chips plant in Panipat, India, which was commissioned in March 2024 has achieved 65% capacity in the first quarter of its operations. We have seen a revival in the demand for packaging films across global markets. Our aseptic business continues on the growth path, we continue to see good traction for our holography products and solutions, and we are driving good growth across all our business segments.” "In FY25, we will be commissioning several key projects, including a 216,000 MTPA virgin PET chips plant in Egypt, an 18,000 MTPA CPP line in Mexico, and capacity debottlenecking at our Sanand plant in India, to increase its annual output to 12 billion packs. These strategic projects are pivotal for creating enduring value for all UFlex stakeholders. These investments shall foster operational excellence and propel substantial growth in our top line and EBITDA while yielding considerable free cash flow”. “Reinforcing our strategic focus on sustainability, our attention toward PCR flexible packaging is on top of our agenda and we are constantly working toward developing more sustainable solutions. We are the only company that is working within India and globally on innovative solutions in flexible MLP and PCR and its applications”. “We have entered into a long-term Power Purchase Agreement with Onevolt Energy Private Limited to secure renewable power for our manufacturing facilities in Noida-NCR. This agreement is in addition to a PPA with Amplus Phoenix Private Limited to supply solar power to our packaging films plant in Dharwad, Karnataka, which will help reduce the company’s carbon emissions by 19,000 tCO2e”. Rajesh Bhatia, Group president and CFO, UFlex, said, “We had a good first quarter, and are on track for a strong recovery in the global packaging films business both in volumes and margins. The aseptic packaging business recorded the highest-ever quarterly production and sales volumes and with the debottlenecking getting completed later in the year, we will witness strong volume growth from Q4 FY25 onward. The backward integration strategy with the commissioning of the first PET chips plant in Panipat, India, has been a huge success, and with the planned commissioning of the PET chips plant in Egypt later in FY25, UFlex will become even more self-sufficient in its raw material requirements. We are at the cusp of witnessing stupendous optimisation in recycled content across various segments of the packaging industry and are on the road to becoming a market leader in this segment in the immediate future”.

Q1FY24 Quarterly Result Announced for Uflex Ltd.

Containers & Packaging company Uflex announced Q1FY24 results: Consolidated Q1FY24: Revenue at Rs 3,278 crore; decrease of 19% YoY EBITDA at Rs 304 crore; decrease of 58% YoY Loss After Tax at Rs 416 crore against PAT of Rs 375 crore in Q1FY23. Exceptional loss of Rs 382 crore due to change in the Forex Policy of the Central Bank of Nigeria in June 2023 Total Sales volume at 1,43,159 Tons; down 7.5% YoY Standalone Q1FY24: Revenue at Rs 1,671 crore; decrease of 1.5% YoY EBITDA at Rs 206 crore; increase of 0.2% YoY PAT at Rs 55 crore; decrease of 27% YoY Total Sales volume at 63,997 Tons; up 13.6% YoY Ashok Chaturvedi, Chairman, and Managing Director, UFlex, stated, “FY24 has begun on the right note with packaging verticals delivering strong performances. Globally, the packaging films business is facing headwinds due to high inflation in the US and European regions. In India, we have seen an uptick in demand, and our new CPP and BOPET lines in Dharwad, Karnataka are operational, which resulted in a 22% YoY increase in sales volume in the quarter. Our backward integration strategy for manufacturing polyester resin chips, investments in sustainable products and solutions, technology, and continued focus on recycling, decarbonization, and other environment-friendly manufacturing processes will help us achieve our business and strategic goals”. Rajesh Bhatia, Group CFO, UFlex, said, “While the packaging films business in India and globally continues to remain sluggish, UFlex’s flexible packaging and aseptic packaging business continues to perform well. Despite the impact of an early monsoon in 2023, we have witnessed a 7% YoY increase in sales volume in the packaging business in the quarter. By debottlenecking the existing aseptic packaging plant at Sanand, Gujarat, we intend to achieve a capacity of about 12 billion packs per annum from April

Q3FY23 Quarterly Result Announced for Uflex Ltd.

Containers & Packaging firm Uflex announced Q3FY23 results: Q3FY23: Total income shows marginal growth of 0.6% YoY to Rs 3,496 crore. For the nine months ended December 31, 2022, total income grew 23% YoY to Rs 11,391 crore. The company's earnings before interest, depreciation & amortization, tax and foreign exchange gain/loss are at Rs 429 crore as compared to Rs 599 crore in the corresponding quarter of FY22. UFlex recorded a profit (PAT) of Rs 314 crore. During the third quarter, notional foreign exchange losses due to currency devaluation/fluctuations aggregated to Rs 236 crore, which is unprecedented. Packaging sales volumes grew 34.3% YoY. Continued progress on its sustainability vision with a presentation to brand owners and industry leaders at an Alliance to End Plastic Waste (AEPW) board meeting at the New York Stock Exchange; showcases expertise in building circularity and strengthening the waste-to-wealth value chain on a global platform. Ashok Chaturvedi, Chairman and Managing Director UFlex Ltd., stated, "It has been a challenging quarter for the packaging industry globally, with rising energy costs in the European Union, rising interest rates, and weakened growth momentum in the United States and other developed economies. UFlex is confident of navigating these current macroeconomic conditions and will continue to deliver longterm stakeholder value. Our distributed global manufacturing strategy, execution capabilities, investments in research and development, and product innovation will enable us to deliver year-on-year profitable growth. We are making great progress on our sustainability journey and are in the process of commissioning PostConsumer Recyclate (PCR) and Multi-Layered Plastic (MLP) recycling facilities in Mexico and Poland. UFlex has recycled more than half a million tons of Multi-Layer mixed Plastic Waste (MLP) so far. In Q3, 2022, it was a great honor for UFlex to be invited to make a presentation on our recycling experience to brand owners and industry leaders at an Alliance to End Plastic Waste board meeting at the New York Stock Exchange. UFlex has offered to lend its technical expertise in recycling Multi-Layer mixed Plastic Waste to civic bodies, regulators, policymakers, and brand owners globally".