The founder Chairman and Managing Director of Uflex Group, Mr. Ashok Chaturvedi is a first generation entrepreneur. He has created leadership position in flexible packaging industry with his innovative and developmental approach over last 25 years
He is the key motivation driver behind the growth of the UFlex Ltd which is India’s largest and fastest-growing flexible packaging company with large capacities of plastic film and packaging products which provide end-to-end flexible packaging solutions.
Mr. Ashok Chaturvedi, has pioneered the growth of Flexible Packing industry in India. Mr. Chaturvedi’s progressive thinking made him conscious of the need to offer solutions for Flexible Packaging which led to the inception of Ulex Ltd. in 1983.
Demonstrating innovativeness and entrepreneurial skills, Mr. Chaturvedi applied the latest international technologies for tailoring and designing packing material which adapted to the needs of the customers, winning markets globally. Inspired by customer’s needs for quality, prompt delivery and service, he decided to integrate backwards in the manufacture of Polyester Film, BOPP and Co-extruded Films, Gravure Printing Cylinders, Inks, Adhesives, Pet Chips. This ensured the excellent quality of product and timely delivery to the customer.
Mr. Ashok Chaturvedi is one of a distinguished creed of first generation entrepreneurs, who has, through vision and dedication carved a niche for himself in the domestic industrial environment and also sculpted a global reputation for himself and The UFlex Group as the only integrated unit of its kind in the world with flexible packaging at its core.
Uflex’s strong manufacturing base in India, Mexico, Dubai and Egypt (on anvil) catering 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, is a testimony of Mr. Chaturvedi’s far-sightedness and vision to put UFlex on the world map.
With the Rs 15,000-crore domestic packaging industry is growing at around 15 -18 per cent annually owing to the increased demand for flexible packaging products, Mr Chaturvedi is eyeing a $1-billion turnover by the financial year 2013 and make UFlex a preferred supplier of packaging materials not only in India but across the globe.
Under his leadership, Uflex become synonymous with flexible packaging industry in the country with revenue of USD 525 million and gross capital investment of USD 500 million across the world.
In order to pace the growth, Mr. Chaturvedi has laid an aggressive business and investment plans of about 250 million dollars in next 2-3 years time which should include the setting up of various green/brown field projects in India and overseas and take the company to be a USD one billion with net profit of USD 100 million by FY2012.
The market volume of the Indian packaging industry amounts to about Rs. 77,570 crore and has constantly grown by approximately 15 percent year on year. The pace of growth is further expected to accelerate between 20-25 percent over the next five years. It is estimated that about 80% of the total packaging in India constitutes rigid packaging, which is the oldest and the most conventional form of packaging.
The remaining 20% now comprises of flexible packaging and this is where Mr. Chaturvedi showed his vision by identifying the need-gap and future demand for flexible packaging keeping in mind the emerging macro-economic factors.
He could foresee the emerging needs of companies to cater to expanding middle class and rising income levels. The patterns of consumption were bound to change substantially and the demand for quality and convenience-based products were set increase. The increased interaction with the developed world was also considerably influencing the aesthetic and quality norms of the Indian consumer and leading to better consumption standards. These factors were going to stimulate greater consumption of branded products and increase the use of flexible packaging. He thus zeroed onto Flexible packaging as his focus area.