UFlex Ltd, India's largest multinational in flexible packaging materials and solutions, announced its business performance results for the first quarter of FY2022-23. The company posted consolidated EBITDA at INR 725 cr for Q1 FY22-23, up by 44.3% YoY whereas the consolidated Net Profit stood at INR 374.5 cr, witnessing a gain of 41.9% YoY. The consolidated Revenue registered a rise of 46.5% YoY to reach INR 4045.8 cr, in the said quarter. EBITDA margin for Q1FY23 was 17.9%.
Total Production output rose by 14.8% YoY in the said quarter to reach 159793 MT and Total Sales volume stood at 154811 MT witnessing a jump of 15.7% YoY. The increased capacity of Aseptic Liquid Packaging plant was available during the quarter and the business achieved sales volume growth of 123% YoY.
Expressing his views about the company's performance, Rajesh Bhatia Group CFO, UFlex Ltd said, "We continued delivering robust results in the first quarter of FY2023 despite facing volatile market conditions and strong global headwinds created by supply chain and raw material constraints. Infact, we outperformed with highest ever quarterly Revenue and Net Profit in this quarter."
Continuing he added, "The BOPET film plant in Nigeria is ramping up and achieved capacity utilization of 70%+ during the quarter. The impact of higher raw material prices continued during the quarter as is evident from 46.5% YoY revenue growth against sales volume growth of 15.7%."
Ashok Chaturvedi, Chairman and Managing Director, UFlex Limited commented, "We are amplifying our objectives to have a complete backward integration for BOPET packaging films via a PET resin facility set up in Panipat (India) to ensure consistent availability of quality raw materials at reasonable prices that will help protect the margins. The project is likely to be commissioned by FY2026."
Shares of UFLEX Limited was last trading in BSE at Rs. 686.50 as compared to the previous close of Rs. 678.20. The total number of shares traded during the day was 45421 in over 2480 trades.
The stock hit an intraday high of Rs. 694.95 and intraday low of 679.75. The net turnover during the day was Rs. 31168681.00.