The company witnessed a surge in demand for multiple lines of businesses while also adding newer clients. The company posted strong growth numbers with Consolidated Net Profit surged by 89% YoY to INR 159.9 crore.
UFlex announced domestic and international expansion for its packaging films business in the results. Speaking of the capacity expansion, Rajesh Bhatia, Group CFO at UFlex Limited, says, “The highlights of this quarter are commissioning of the brownfield BOPET film line in Poland with a capacity of 45,000 TPA. The trial run for our BOPP plant in Hungary and BOPET plant in Nigeria have already commenced, and both the plants are expected to be commissioned soon. In India, we have not expanded the capacity of packaging films since the last 16 years and are now setting up greenfield BOPET and CPP lines in Karnataka to meet the growing demand. We are also expanding outside India with plans to set up brownfield CPP film line at our UAE plant that will add a production capacity of 18,000 TPA.”
Ashok Chaturvedi, chairman and managing director, UFlex Limited, adds, “UFlex has played a pivotal role in providing packaged products to the end consumers during the pandemic. In line with our vision to go glocal and serve the last mile with our best-in-class innovative and sustainable solutions, we are scaling up our international as well as domestic operations. Driven by a robust order book and consistent market growth, we are doubling the manufacturing capacity of our aseptic liquid packaging plant in Sanand.”
The earlier capacity of the group’s packaging films plant in Poland was 30,000 TPA and with an additional 10.4 meter wide BOPET line of 45,000 TPA getting commissioned, FlexFilms is the largest BOPET manufacturer in the European Union, the company says. In India, the current capacity of packaging films line with BOPET, BOPP, CPP put together is 92,000 TPA. The new lines to be added in South India will have a cumulative production capacity of 63,000 TPA. The UAE plant that currently houses a BOPET line with capacity of 22,000 TPA, will have an additional capacity of 18,000 TPA once the CPP line is commissioned.