UFlex, the country’s largest, multinational, flexible-packaging company and global player in polymer sciences, has declared its earnings for the quarter ended June 2021. The company has posted consolidated net profit of Rs 264 crore, which surged by 34.4 per cent year on year (YoY). Besides, the company’s consolidated EBITDA stood at Rs 502.4 crore, rising by 19.3 per cent YoY for Q1 of FY21. 

The consolidated total revenue registered by the company for the first quarter of 2021-22 was Rs 2,761.2 crore, an increase of 38.2 per cent YoY. Total production volume during the quarter under review was 1,38,876 metric tonnes (mt), clocking growth of 30 per cent YoY, whereas total sales volume increased YoY by 29.8 per cent to 1,33,476 mt. The company recorded its highest-ever quarterly production and revenue during the Q1 of FY22 

Commenting on the results, Rajesh Bhatia, the group president (finance & accounts) & CFO, UFlex said: “Despite the headwinds in raw material prices and freight costs, we maintained consistent supply chain operations and simultaneously focused on volume-led profitable growth backed by enhanced capacities from recently commissioned plants, including a 10.4mt wide BOPP film line in Hungary with 42,000TPA production capacity which was commissioned during the quarter.”

UFlex Chairman and Managing Director Ashok Chaturvedi said: “UFlex has been on the path to fulfill its vision to get closer to its patrons with manufacturing units across the world with BOPP line in Hungary commissioned and Nigeria set to be commissioned.  With consumers getting more mindful of what and how they consume, the packaging industry needs to be proactive in developing sustainable packaging without compromising on convenience and functional attributes of plastic.”

During the quarter UFLEX has unveiled many breakthrough set of products and solutions with a portfolio aimed at sustainability and efficiency. These products and solutions are set to make packaging a better experience for brands and consumers alike, especially in the wake of changing trends in packaging, the company said.