UFlex beats market woes with several groundbreaking innovations
02 July 2020: UFlex Ltd., India’s largest multinational flexible packaging company declared its earnings for Q4 (January-March) and FY2019-20. The company has had a strong quarter with a surge in consolidated Net Profit by 43.5% YoY to 100.6 crore for Q4 FY19-20; whereas its consolidated EBITDA rose by 6.3% YoY to 276.4 crore and EBITDA margin improved to 15.6% from 12.6% last year.
Announcing the financial results, Ashok Chaturvedi, Chairman & Managing Director, UFlex “Even during the ongoing COVID-19 crisis, we continued our operations such that supply chain of essential commodities like food and pharma wasn’t completely interrupted and these packaged goods reached public at large. We commissioned India’s first Post-Consumer PET bottle and Multi-layer plastic (MLP) waste washing and recycling lines in Noida. These lines will upcycle plastic waste to form chips and granules further used for endless applications such as our green packaging film Asclepius and useful recycled plastic products like flower pot, dustbins, buckets, outdoor furniture and more thus pushing the plastic waste out of the environment and reinstating the recycled plastic back in the economy.”
UFlex has developed eco friendly paper based Tubes with reduced Plastic at Source for the cosmetic and food industry. Depending on application and pack size, these tubes help reduce plastic consumption at source by upto 65% by replacing it with paper. The virgin kraft paper used in tubes are laden with properties of high bursting force and very low moisture absorption properties; and lend the tubes an earthy and rusty look.
The company also launched Laser Engraving specialized Cylinders that produces holographic and 2D effects, UFlex has achieved high depth tissue paper embossing and cotton handbag paper embossing, a feat never attempted before in the industry.