- Uflex Net Revenue Up by 18.5% for FY2018-19
- Film Business Achieves Highest-ever Production for FY18-19
- CRISIL Assigns Credit Rating of ‘A’ to Long term Debt
- Board Recommends Dividend of 20%
Uflex Ltd, India’s largest multinational flexible packaging Company, today has announced its earnings for the Quarter ended March 31, 2019, and Financial Year 2018-19.
The consolidated net revenue for Q4FY18-19 rose to INR 2060.6cr as compared to INR 1818.8cr in the corresponding quarter last fiscal; while the company registered EBITDA growth of 13.4% at INR 260.1cr in Q4FY18-19.
For full-year 2018-19, the consolidated net revenue grew 18.5% to INR 7974.8cr and EBITDA increased by 11.6% to INR 1007.5cr. The full year consolidated PAT was marginally up by 1.07% at INR 313.8cr.
In FY2018-19, the Films Business achieved the highest ever production of 316923 MT. The improved financial performance has resulted in CRISIL assigning higher credit rating of ‘A’ to long-term debt of the company.
The board has recommended a dividend payout of 20%, subject to shareholders’ approval.
Commenting on the financial performance, Rajesh Bhatia, Group CFO at Uflex Limited said, “Our total production and sales volume for FY18-19 grew 6.1% and 6.7% to 397492 MT and 395634 MT respectively. BOPET market continues to be robust resulting in higher capacity utilisation across all plants. BOPP market has also shown substantial improvement in Q4 and we expect this trend to continue in FY19-20.”
Ashok Chaturvedi, Chairman & Managing Director, Uflex Limited said, “We worked diligently towards combating the headwinds that came along this fiscal and remained successful in leading the market with our innovations and product offerings. We have been highly focused on the challenge of Multi-layer plastic recyclability and have developed a technology that converts different layers of multi-layer packaging waste (printed, laminated and metallized) into granules. The latest technology enabled recycling machine was installed at our Noida plant, this quarter.”
He added, “The flexible packaging industry continues to evolve with changing consumer expectations and among the most prominent are sustainability and customization. With solutions for waste plastic being created, we are confident of the demand for flexible packaging growing further, in the coming years. ”