Monthly Archives: May 2017
Uflex Consolidated Net Profit grows 22% in the Fourth Quarter
India’s largest multinational flexible packaging materials and Solution Company Uflex Limited has reported a 22% rise in consolidated net profit for Q4 FY 2016-17 as compared to the same period in the previous fiscal. Figuratively theconsolidated net profit stood at Rs. 98 Crore as opposed to Rs. 80Crore in the fourth quarter of FY 2015-16. The total consolidated revenue stood at Rs. 1634 Crore showing a 9% increase w.r.t. the same period in the previous financial year when it was recorded at Rs. 1493 Crore.
For the entire fiscal FY 2016-17the top line of company grew by 2% to stand at Rs. 6250 Crore when compared to FY 2015-16. The consolidated net profit for FY 2016-17 stood at 348Crore registering a bottom line growth of 11% w.r.t. FY 2015-16.
While approving and adopting the audited annual accounts for the FY 2016-17, the Board has recommended Dividend of 35% subject to approval by the shareholders of the company.
Elaborating about the earnings, Mr. R.K. Jain, Group President (Corp. F & A), Uflex Limited said, “Owing to the emphasis that we invariably lay on innovation to create value added differentiation, our total sales volume in the fourth quarter of FY 2016-17 and that for the entire fiscal grew by 14 % and 9% respectively (Y-O-Y). New variants of Speciality and high barrier films coupled up with value added flexible packaging solutions that we launched throughout the year played a significant role in the overall sales volume and profit growth.”
In an official statement issued soon after the results were declared, Mr. Ashok Chaturvedi, Chairman & Managing Director, Uflex Limited said,“FY 2016-17 has been an eventful year with a lot that happened at both micro as well as macro-economic levels. The foundation of our business emanates from and rests upon innovation to create value added differentiation, therefore as always, we unwaveringly focused all our energies towards developing yet enhanced Flexible Packaging Solutions adding value to the businesses of our clients across the globe simultaneously contributing towards shareholders’ wealth. Owing to our agile Global Sales and Marketing Network, we have been able to bring some of the best Convertors and FMCG Brands under the fold of our servicing. I am glad to share with you that the demand for our bespoke flexible packaging solutions is showing a steady and positive uptrend. Our impeccable products & services coupled up with the indomitable zest to contribute towards socio-environmental sustainability was acknowledged at various platforms not only in India but internationally too. Particularly impressive has been our win at Association of International Metallizers, Coaters, and Laminators’ (AIMCAL)
Awards 2017 in USA where our Waterless Internet Flower Packaging, working on the principle of Active Modified Atmospheric Packaging bagged four (2 Gold + 2 Silver) top honors in the categories of technical innovation, sustainability, extending the use of flexible packaging and packaging excellence.
Our aseptic packaging material manufacturing plant at Sanand (Gujarat) will be commissioned soon and we shall commence commercial operations shortly thereafter. The new financial year has kicked off on a robust note and this upbeat fervor will encourage us to engineer and deliver best-in-class flexible packaging solutions throughout the year and beyond!”
Demand for High Barrier Films is on the rise
High Barrier Polymeric Films are considered to be the back-bone of Flexible Packaging. Film manufacturing companies world over are investing considerably towards R&D for enhancing barrier properties of the substrates. There are various ways in which barrier properties of films/substrates can be enhanced. These include altering the master batch formula; metallization; co-extrusion with polymers; application of coatings of PVOH, PVDC; compounding of nanoparticles into polymer matrix to form nano-composites among several others.
Amidst a growing clamor for sustainability, film manufactures have to strike the delicate balance between down-gauging/ light weighting and reduction at source etc. simultaneously not compromising upon the barrier properties of the substrate.
Some pivotal points that should be noted about the growth of High Barrier Films are:
(a) The ever increasing demand for high shelf-life of food product by consumers with less time and more disposable income at hand is giving a boost to the demand of high barrier films;
(b) Various sustainably viable barrier coatings are being used on transparent films that do not occult transparency of the substrate. Ideally aluminium foil poses nearly 100% barrier for oxygen and water vapour but since it is opaque it blocks the transparency of the laminated pouch. Transparent packaging that does not compromise upon the barrier properties is much sought after in the contemporary times;
(c) Next generation polymer nanocomposites are being engineered to further optimize the barrier properties of packaging films that can add immense value to the ensuing laminate structure.
(d) Future growth is anticipated for several developing cutting edge barrier technologies, including Besela barrier film technologies.
According to the new Smithers Pira Report ‘The Future of High Barrier Packaging Films to 2021’ the global market of such films is poised to grow at an annual rate of 4.6% between 2016-2021 to reach 2.33 million tons.
India’s largest multinational flexible packaging materials and Solution Company has carved a niche for itself by engineering several down gauges polymeric films that are extremely efficient in terms of barrier properties. The demand for high barrier films manufactured by Uflex is gaining momentum across the globe.
Two very recent film developments by Flex Films-Global Film Manufacturing Arm of Uflex Limited are:
Super Barrier Polyester Film, FLEXPETTM F-PGB-12
This 12 micron Bi-axially Oriented Polyethylene Terephthalate (BOPET) film owing to a specially modified surface treatment (on one side) offers very high barrier to oxygen. The other side of the film can be corona treated or left untreated as per the requirements of the convertor. The Oxygen Transmission Rate (O.T.R) of this film is < 6 cm3/m2/day at 23 degrees Celsius & 0% RH. A big advantage with this film is the fact that it does not require any coating or co-extrusion of Polyvinylidene Chloride (PVDC) or Ethylene Vinyl alcohol (EVOH) for enhancing barrier properties.
9.5 micron speciality ALOx polyester film, FLEXALOxPROTECTTM F-PGX
This happens to be the thinnest PET ALOx film available globally. Despite being the leanest, the 9.5 micron ALOx polyester film exhibits excellent barrier for oxygen and water vapor as W.V.T.R (gm/m 2/day) and O.T.R (cc/m 2/day) are both < 1.0. No player other than Uflex offers such a thin PET ALOx speciality film with such superior barrier properties.
Uflex value – engineers different variants of Extrusion Lamination Machine
In the absence of quality manufacturers of Extrusion Coating/ Lamination machines in India, responding to an ever increasing demand from the Convertors’ fraternity, India’s largest multinational flexible packaging materials and solution company Uflex had launched Extrusion Lamination Machine EL-1300 in India, last July.
The machine received great feedback from Indian convertors and turned out to be a huge success. Innovation to create value added differentiation being the guiding vector at Uflex, the quest for re-engineering to come up with something more evolved and endearing for convertors to address their needs towards various types of applications continued.
Mr. Ajay Tandon, President & CEO, Engineering Business, Uflex Limited said, “This re-engineering and value addition gave birth to extrusion coating / laminators as Mono Extruder, Co-Extruder and Tandem Extruder variants.
To meet the principal application of extrusion coating / lamination, Mono Extruder is good enough. However, considering the running costs and flexibility to play with various polymers, Co-Extruders are getting increasingly popular. In addition to economising the costs, Co-Extruders also play an important role towards enhancing barrier properties owing to multi-layered combination. Tandem Extruder has been designed so as to execute multi-layered jobs in single run for saving upon the process time.
The fact that in addition to the delivered machine four more machines are being currently manufactured at our plant in Noida proves the credibility that Uflex as a manufacturer of Converting and Packaging machinery enjoys.
We have a powerful feedback loop that helps us tapping the pulse of the market at all times. It is for this important feedback which we received from the Convertors’ fraternity that we were able to give unparalleled features to the extrusion coating / laminators including auto adjustment of the silicone belt, movement of Extruder / T-Die in three axis…x-y-z, possibility of top and bottom splicing to name just a few.
The moment of truth dawned upon us when our Extrusion Lamination Machine EL-1300 was highly appreciated not only by domestic convertors and professionals from the industry but also by one of the leading manufacturers of extrusion coating machine from the West”
Expressing delight upon this development, Mr. Ashok Chaturvedi, Chairman & Managing Director, Uflex Limited said, “Only successful engineering is potent enough to quell the thirst for innovation. I am glad that my team has been able to add discernible value to the existing extrusion lamination machine by further engineering Mono Extruder, Co-Extruder and Tandem Extruder variants for meeting multifarious needs of convertors. Let me tell you that more value engineering on this front is in the offing and you shall hear from us about it in the near future.”