UFLEX Ltd Q3 FY10-11 Net Profit Up 423% at Rs. 251 crore
India's largest flexible packaging company has registered an exponential growth of 423% increase in its consolidated net profit for the quarter ended December 31, 2010 at Rs. 251 crore as against Rs. 48 crore for the same period last year, maintaining a consistent record of highest growth by any company in the sector so far.The firm's consolidated revenue for the December quarter of 2010 stood at Rs. 1022 crore as against Rs. 595 crore for the same quarter last year, up 72%. The higher revenue growth is attributed to new capacity expansion, increased utilization and higher net realization of the company’s products line.
Published on: Mar 4, 2016
Transcripts - UFLEX Ltd Q3 FY10-11 Net Profit Up 423% at Rs. 251 crore
UFLEX Ltd Q3 FY10-11 Net Profit Up 423% at Rs. 251 croreNew Delhi: January 19, 2011:- Uflex Ltd, the Bombay Stock Exchange (UFLEX: 500148) andNSE listed, Indias largest flexible packaging company has registered an exponential growth of423% increase in its consolidated net profit for the quarter ended December 31, 2010 at Rs. 251crore as against Rs. 48 crore for the same period last year, maintaining a consistent record ofhighest growth by any company in the sector so far.The firms consolidated revenue for the December quarter of 2010 stood at Rs. 1022 crore asagainst Rs. 595 crore for the same quarter last year, up 72%. The higher revenue growth isattributed to new capacity expansion, increased utilization and higher net realization of thecompany’s products line.On a sequential basis also, the company registered growth in its quarter-on-quarterconsolidated net profit of 24% over profit figures of the preceding quarter that stood at Rs. 203crore in the July - September quarter (Q2 FY10-11).For the nine months period ending December 31, 2010, UFlex recorded net profit of Rs. 515crore against Rs. 144 crore in the corresponding period last year, a growth of 258%. Netrevenue of the company for the nine months ended Dec.. 31, 2010 stood at Rs. 2573 crorecompared Rs. 1713 crore in the same period in previous fiscal, up by 50%.According to Mr. Ashok Chaturvedi, Chairman and M.D. of UFLEX Ltd, “Our consistentrecord of maintaining a high growth trajectory is symbolic of the potential in the industry and thecorresponding faith of customers in our endeavors to excel in offering quality products whichhas translated in to successful long term relationships globally. Our overseas operationscontribute 53% to our topline which again highlights the growing dominance of “Brand India” inthe global markets across industry sectors, and we take pride in leading from the front in theflexible packaging arena.”UFLEX is continuing with its strategy of capacity expansion and adding manufacturing lines fornew product categories across facilities in Egypt, Mexico and India with aggregate investmentsin excess of $250 million over the next year, which will include the setting up of variousgreen/brown field projects in India and overseas. The expansion in these facilities will give Uflex
the added advantage of increased proximity to the markets and bring broad portfolio of valueadded products to offer its clients at competitive price points.For the financial year 2009-10, the consolidated net profit of UFLEX before extra-ordinary itemsrose 21% to Rs 186 crore as against Rs 153 crore in the year ago period. Net revenue in theyear, however, grew by 12 % to Rs 2419 crore.Uflexs strong manufacturing base in India, Mexico, Dubai and Egypt caters to global marketsspanning USA, Canada, South America, UK, Europe, Russia, CIS countries, South Africa andother African countries, the Middle East and the South Asian Countries.Uflex is the only integrated unit of its kind in the world with flexible packaging at its core. It hasvast capacities for production of Polyester chips, Biaxially Oriented Polyethylene Teraphthalate(BOPET) and Biaxially Oriented Polypropylene (BOPP) films, Printing & Coating Inks, facilitiesfor Holography, Metalization & PVDC coating, making Gravure Printing Cylinders & FlexoPrinting plates, Gravure Printing, Lamination and Pouch formation.The companys partial client list includes Unilever, Pepsi, Wrigley, Procter & Gamble, Colgate,Palmolive, Nestle, Gillette, Ranbaxy, Perfetti, Joyco, Monsanto, ITC, Godrej Pillsbury, Tata Tea,Hindustan Petroleum, Indian Oil, Britannia, Dabur, Haldiram, Wockhardt, HUL, Parle Biscuit,and Birla 3M, among others.About UFLEX LtdUFLEX Ltd (www.uflexltd.com) is the Bombay Stock Exchange (UFLEX: 500148) and NSElisted Indias largest flexible packaging company with large manufacturing capacities of plasticfilm and packaging products providing end-to-end solutions to clients across more than 108countries.Synonymous with flexible packaging industry in the country, UFLEX group has Gross annualrevenue of Rs. 30 billion and Gross Capital Investment across the world of about Rs. 26 billion.UFLEX offers finished packaging of a wide variety of products such as snack foods, candy andconfectionery, sugar, rice & other cereals, beverages, tea & coffee, desert mixes, noodles,wheat flour, soaps and detergents, shampoos & conditioners, vegetable oil, spices, marinates &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..