India’s largest global flexible packaging solution company UFlex Limited has registered a 17% increase in consolidated net profit for the quarter ended 31 March 2016 as compared to the same period during the preceding fiscal. In value terms, the net profit stood at Rs. 80.2 Crore vis-à-vis Rs.68.5 Crore in the fourth quarter of FY 2014-15.
The consolidated net profit for FY 2015-16 stood at Rs. 312.8 Crore as compared to Rs. 254.8 Crore for FY 2014-15 thus clocking a strong bottom line growth of 23%. Total consolidated revenue for the financial year ended 31 March 2016 stood at Rs.6145 Crore which was a tad lower by about 1% when compared to the total revenue for the financial year ended 31 March 2015 i.e. Rs.6201 Crore. This marginal drop in total net revenue is attributed mainly to the cooling-off of the selling prices because of ebbing raw material prices. Being a pass through organization, UFlex passes on the benefit of easing raw material prices to its customers.
While approving and adopting the audited annual accounts for the FY 2015-16, the Board has recommended Dividend of 32% subject to approval by the shareholders of the company.
In an official statement issued soon after declaring the numbers, Chairman and Managing Director, UFlex Limited, Mr. Ashok Chaturvedi said, “During FY 2015-16, UFlex made great strides towards bespoke innovation for the global clientele. More efficient processes were deployed and cutting-edge technology implemented for optimizing value for all stakeholders. Besides having speed-to-market-reach for reaping the first mover advantage, the unique proposition of UFlex lies in its ability to deliver any quantum of order just-in-time, in any part of the world.
FY 2016-17 is a year of whole new possibilities. It will witness the commissioning of our aseptic packaging plant at Sanand, Gujarat for packing liquid products. With this, we will complete our product bouquet which currently entails offering end-to-end flexible packaging solutions for solids, semi-solids, pastes, gels, viscous fluids, powders, granular material etc. Over the last three decades my team has deftly imbibed the art and science of serving clients the very best that their products deserve. We will continue to innovate and excel in every packaging solution that we come up with sustaining the momentum of growth.”
The strong financial performance of the flexible packaging major is ascribed to its high innovation quotient during the FY 2015-16 with path breaking product launches like Flexfresh™ that uses Equilibrium Modified Atmospheric Packaging (EMAP) for extending shelf life of fresh produce ensuring fresh quality at arrival, even by sea.
The company also launched Robust Seal Performance CPP Film that firmly addresses problems like poor run-ability of laminate on new generation state-of-the-art high speed Form-Fill-Seal (FFS) machines and persistent issues like seal opening at high speed; poor seal through contamination and poor hermetic seals.
Yet another technologically superior offering by UFlex has been UV process manufactured Fresnel, diffractive, holographic and hybrid (combination) lens embossed film that is counted amongst one of the best brand protection and anti-counterfeiting solutions in the global flexible packaging industry.
UFlex also launched State-of-the-art Extrusion Lamination Machine with impeccable features like separate drive for impression roller motorized three axis movement of carriage for air gap setting and unique design of lamination drum to maintain even temperature across the width, among several others. The list of innovation continues.
Being the face of the flexible packaging industry of the country and progressively contributing towards the image of Brand India, UFlex was invited to participate in ‘Make in India’ Week that was held in Mumbai in February. The company is now bracing up to showcase best-in-class technology for print and cross media solutions at DRUPA 2016 that will be fagged off in Dusseldorf, Germany on 31 May and will run through 10 June 2016. UFlex will be at Stall C 51 in Hall Number 15.