Businesswireindia | 30 May 2017, 3:40 pm
Uflex Consolidated Net Profit Grows 22 Percent 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 the consolidated net profit stood at Rs. 98 Crore as opposed to Rs. 80 Crore 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 2016-17, the 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 348 Crore 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!”
Uflex is India’s largest multinational flexible packaging materials and Solution Company and an emerging global player. Since its inception back in 1985, Uflex has grown from strength to strength to evolve as a truly Indian Multinational with consumers spread across the world. Uflex today has state-of-the-art packaging facilities at multiple locations in India with installed capacity of around 100,000 TPA and has packaging film manufacturing facilities in India, UAE, Mexico Egypt, Poland and USA with cumulative installed capacity in excess of 337,000 TPA.
All Uflex plants are accredited with ISO 9001, 14001, HACCP & BRC certifications. Uflex caters to markets spanning across the globe in over 140 countries like USA, Canada, South American countries, UK and other European Countries, Russia, South Africa, CIS, Asian and African nations. Integrated within its core business profile are allied businesses like Engineering, Cylinders, Holography and Chemicals which further give Uflex a superior edge above competition.
Uflex Limited is also a part of the D&B Global Database and winner of various prestigious national and international awards for its products’ excellence. Uflex offers technologically superior packaging solutions for a wide variety of products such as snack foods, candy and confectionery, sugar, rice & other cereals, beverages, tea & coffee, dessert mixes, noodles, wheat flour, soaps and detergents, shampoos & conditioners, vegetable oil, spices, marinades & pastes, cheese & dairy products, frozen food, sea food, meat, anti-fog, pet food, pharmaceuticals, contraceptives, garden fertilizers and plant nutrients, motor oil and lubricants, automotive and engineering components etc.
Some of Uflex’s clients on the global turf include P&G, PepsiCo; Tata Global; Mondelez, L’ Oreal, Britannia, Haldiram’s, Amul, Kimberly Clark, Ferro Rocher, Perfetti, GSK, Nestle, Agrotech Foods, Coca-Cola, Wrigley, Johnson & Johnson among others.