Friday, January 21, 2011

Uflex expects around $1 billion turnover next year: Mr. RK Jain

In an interview with ET Now, Mr. RK Jain , CFO, Uflex Ltd, said that the company expects revenues of around one billion dollar in the next year. He added that new capacities of around 100,000 tonnes are also coming up in the next year which will give Uflex a volume growth to that extent.

To see the transcript of the interview, Please click here

Wednesday, January 19, 2011

UFLEX Ltd Q3 FY10-11 Net Profit Up 423% at Rs. 251 crore


Uflex Ltd 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.
On a sequential basis also, the company registered growth in its quarter-on-quarter consolidated net profit of 24% over profit figures of the preceding quarter that stood at Rs. 203 crore in the July -  September quarter (Q2 FY10-11).
For the nine months period ending December 31, 2010, UFlex recorded net profit of Rs. 515 crore against Rs. 144 crore in the corresponding period last year, a growth of 258%. Net revenue of the company for the nine months ended Dec.. 31, 2010 stood at Rs. 2573 crore compared 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 consistent record of maintaining a high growth trajectory is symbolic of the potential in the industry and the corresponding faith of customers in our endeavors to excel in offering quality products which has translated in to successful long term relationships globally. Our overseas operations contribute 53% to our topline which again highlights the growing dominance of “Brand India” in the global markets across industry sectors, and we take pride in leading from the front in the flexible packaging arena.”
UFLEX is continuing with its strategy of capacity expansion and adding manufacturing lines for new product categories across facilities in Egypt, Mexico and India with aggregate investments in excess of $250 million over the next year, which will include the setting up of various green/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 value added products to offer its clients at competitive price points.
For the financial year 2009-10, the consolidated net profit of UFLEX before extra-ordinary items rose 21% to Rs 186 crore as against Rs 153 crore in the year ago period. Net revenue in the year, however, grew by 12 % to Rs 2419 crore.

Wednesday, January 12, 2011

Uflex Ltd. adopts cricket initiatives of ‘Stairs’


India's largest flexible packaging company-Uflex Ltd., which has a long-standing interest in responsible business practices, has adopted cricket initiatives taken by Stairs, an NGO working towards health, education and sports of underprivileged children. The association represents an extension of Uflex’s Social commitment to bring about a positive change in the life of underprivileged sections of the society through programmes in education, health and sports, which incorporates values into day-to-day activities.

Stairs has been organizing the Cricket Championships for the underprivileged children for the last five years. These tournaments are aimed at providing a platform to these children to hone their skills and showcase their talent through camps. Stairs understands the amount of talent that exists among these children and believes in creating opportunities so that their talent is rightly tapped and nurtured. Talented children are chosen from these camps and provided coaching, sports scholarship and sports gear.

As a part of association with UFlex, the company will bear a portion of the sports scholarship, sponsor the training of children in training academies and also take care of education expenses of a certain number of children.

Speaking on UFlex’s association with Stairs, Mr. R.K. Jain, President, Finance, UFlex said, “Every child in our country irrespective of caste, creed or economic background nurtures the dream of playing cricket for his country. But many of them have to give up their dream due to lack of funds, training and ample opportunities. It is a humble effort of Stairs to give a platform and further give shape to the dreams of these less fortunate children. We are proud to be associated with Stairs in its endeavor to bridge the gap between the privileged and underprivileged children and help them realize their dream and contribute to their development”. 

Some of the students who have been identified by Stairs are already doing well at the national level and are earning laurels for their state. Stairs also organizes sports camps at regular intervals to promote youth talent. Recently, UFlex in association with Stairs, had organized a Cricket Championship in Una, Himachal Pradesh, which witnessed the participation of around 20 teams in Under-14 and Under-16 category from Delhi, Haryana, Uttar Pradesh, Punjab, and Himachal Pradesh.