India’s largest global flexible packaging company Uflex has registered 38% growth in its consolidated net profit for Q3 FY 2015-16 when compared to the same period during the last financial year. The net profit stands at Rs. 78.7 crore as compared to Rs. 57.1 crore during the third quarter of the previous financial year.
The consolidated total revenue for Q3 FY 2015-16 has been tad lower at Rs.1511 crore as compared to Rs 1533.8 crore during the corresponding period of the previous financial year due to fall in selling prices of packaging films mainly owing to the drop in the prices of raw materials.
The consolidated total revenue for the first nine months of FY 2015-16 is 4651 crore, while the consolidated net profit for the same period stands at Rs. 232.6 crore, up from Rs.186.2 crore when compared to the same period during last financial year, thus registering a bottom line growth of 25%.
Upon declaration of Q3 results, Mr. Ashok Chaturvedi, Chairman and Managing Director of Uflex Group said “I am glad that the innovation quotient of the organization has been continuously rising – a fact that is well evident from the consistent growth in our bottom line. We always endeavour to offer flexible packaging solutions that add discernible value to the business of our clients. This is a collaborative process, wherein our product team proactively interfaces with our clients to design unique and optimized packaging solutions exactly matching their requirements in terms of barrier properties, functionalities, aesthetics and anti-counterfeiting properties among other parameters. We stand committed to deploy cutting edge technology to the best advantage of our clients. The path ahead looks extremely encouraging and promising. Let’s walk it together with pride.”
The work towards commissioning first of its kind aseptic packaging plant at Sanand, Gujarat is underway in full swing. With this plant for packing liquid products going commercially operational in early 2017, Uflex will complete its entire product bouquet of flexible packaging solutions which currently covers solids, semi-solids, viscous fluids, pastes, gels, powders, granular material etc. The company is renowned for processing any quantum of order and ensuring just in time deliveries in any part of the world.
Uflex is all geared to showcase its technological prowess during the Make in India Week that will be inaugurated by Prime Minister Narendra Modi on 13th February 2016 at MMRDA Grounds, Bandra Kurla Complex, in Mumbai. The Gujarat Project will be one of the most prominent highlights by the company during this prestigious exhibition. Uflex will be present at Stand Number 22.21.
The market for Smart Packaging Market is consistently growing and is expected to reach $39 billion by 2020 growing at a CAGR of 7%, says a recent market report by Research and Markets.
Smart and Intelligent packaging offers superior aesthetics, enhanced functionality, safety, convenience and value for money to the consumers. These factors play a significant role in shaping the customer buying behavior firming up the purchase decision at the point of sale thereby directly impacting brand equity.
Active and smart packaging has the potential to make significant contribution towards enhancing the reach of a brand. Consider these 5 ways in which smart packaging earns extra credits to the brand owner:
1) Relevance: Smart packaging means enhanced customer interface. Tech Savvy customers use newer forms of media or technology platforms and those brands who engage on these platforms undoubtedly stand a higher chance of staying relevant in consumer’s life.
2) Enhanced Information making it truly ‘Intelligent Packaging’: Smart codes embedded onto the package means compiling more information that helps the consumer making informed purchase decisions. Manufactures can supply information on sourcing, nutritional values, dietary concerns etc to the consumer through a QR (Quick Response) code. Intelligent packaging establishes a dynamic interaction with sensing devices on packaging such as NFC (near-field communication), RFID (radio-frequency identification), and smart labels. Empowering a customer will go a long way in maintaining loyal consumer base.
3) Perceptible extended shelf life: An intelligent package calibrates itself in accordance with the ambience outside and inside the package. For instance color changing plastics can detect food spoilage and communicate the same to the retailers and consumers. Time Temperature Indicator Plastics are a big boon to detect loss of quality of the products packed. Food labels that communicate the packaged product’s state of freshness are getting picked up faster from the shelves.
4) Business Intelligence: In fact many organizations are already making good use of intelligent/ smart packaging to track goods in the supply chain. It is now possible to track the quality and safety of packaged goods at various points within the distribution line. From tracking supply chains to monitoring customer behavior, intelligent packaging has now made it possible for the brands to connect, capture, track and receive business intelligence.
5) Increased sustainability: Smart packaging can also help reduce the impact of packaging on the environment, giving brand owners a more sustainable package. Also switching to smart packaging can be economical, giving the brands a competitive edge by reduction at source and thereby leaving less carbon footprints.
Being India’s largest flexible packaging company, Uflex is a pioneer in setting benchmarks for delivering innovative packaging concepts that ensure superior aesthetics, enhanced functionality, better barrier properties besides being eco-friendly and counterfeiting proof. Uflex has a wide client base across the globe with a formidable market presence in over 140 countries.