Containers & Packaging company Uflex announced Q2FY26 results Sales volume: 161,161 MT for Q2FY26 (-5.5% QoQ, -3.7% YoY). Revenue: Rs 38,610 million for Q2FY26 (-1.6% QoQ, flat YoY). EBITDA: Rs 3,895 million for Q2FY26 (-17.1% QoQ, -12.4%YoY) +10.1% Margin (-190 bps QoQ, -140 bps YoY). PAT: Rs 269 million +0.7% Margin for Q2FY26 . Ashok Chaturvedi, Chairman & Managing Director, UFlex, said: “Q2FY26 was marked by tariff disruptions, GST transition, and a prolonged monsoon, which had an impact on operations. However, on a positive note, the tariff issues are likely to be settled soon, and GST rationalization will significantly boost consumption, which is positive for the industry, and will be a strong growth catalyst going forward. With the headwinds behind us, we strongly believe that the business is set for strong growth, and our ongoing capacity expansion programs will set the tone for positive momentum. During the period, we commissioned brownfield capacity expansion at our aseptic packaging plant in Sanand, increasing capacity from 7 billion to 12 billion packs per annum. This enhances our ability to meet the growing demand for aseptic packaging solutions in both domestic and international markets. The EPR rollout in India will accelerate the demand for more sustainable packaging solutions and presents an opportunity for us to collaborate more closely with FMCG brand owners to deliver innovative, high-quality, and ecofriendly packaging that reaches millions of households across India. Our strategic capex investments are nearing completion. A 12 billion pack per annum greenfield aseptic packaging plant in Egypt, an 80 million unit per annum WPP bags facility in Mexico, and close to 40,000 MTPA PET and flexible waste recycling plant in Noida are on track” Rajesh Bhatia, Group president & CFO, UFlex, said: "UFlex delivered robust earnings and steady revenue in H1FY26, successfully navigating the transitional GST environment and tariff overhang. Total revenue grew 3.2% YoY, with EBITDA up 4.1%. Net profit in H1FY26 turned positive at Rs 849 million. This performance underscores our operational excellence and focus, while our mid- to long-term fundamentals remain strong. India’s Extended Producer Responsibility (EPR) framework is expected to spur healthy demand for recycled packaging materials across the food packaging value chain going forward. UFlex is well ahead of this regulatory curve with its fully integrated recycling ecosystem—producing rPET chips, PCR PET ‘Asclepius’ films, and single-pellet PET chips blending virgin and recycled PET in a 70±:30± ratio. Our portfolio of end-to-end recycled SKUs, including rTubes, rPouches, and rAseptic carton packs, underscores our commitment to sustainable innovation and strengthens our position as a trusted partner helping customers meet evolving regulatory and environmental standards. Looking ahead, easing inflation, structural tailwinds from GST rationalization, lower interest rates supported by the RBI’s liquidity measures, income tax relief announced in the Union Budget, increased government spending, and a progressively easing trade policy environment are expected to strengthen consumption momentum. UFlex is strategically positioned to leverage these macro tailwinds and drive sustainable, long-term organic growth across global markets. Additionally, ongoing capacity rollouts, including the 12 billion-pack Asepto facility in Egypt, the 80 million WPP line in Mexico, and the 39,900 MTPA recycling facility in Noida, will serve as catalysts for incremental growth.” Result PDF
Conference Call with Uflex Ltd. Management and Analysts on Q1FY26 Performance and Outlook. Listen to the full earnings transcript.
Containers & Packaging company Uflex announced Q1FY26 results Sales volume: 170,504 MT (+3.2% QoQ, +7.9% YoY) Pkg. films: 76.1%. Packaging: 23.9%. Revenue: Rs 39,219 million (+1.2% QoQ, +6.4% YoY) Domestic: 44%. International: 56%. EBITDA: Rs 4,698 million (-2.3% QoQ, +0.3%YoY) EBITDA Margin: +12.0% Margin (-40 bps QoQ, -70 bps YoY). PAT: Rs 580 million PAT Margin: +1.5% for Q1FY26. Ashok Chaturvedi, Chairman & Managing Director, UFlex Group, said: “In Q1FY26, we navigated a challenging landscape shaped by cautious consumer sentiment, geopolitical tensions, and tariff-related uncertainties. Despite these headwinds, we remained focused on our strategic priorities strengthening our business and positioning it for long-term growth by enhancing operations, driving innovation, and advancing our sustainability goals to meet today’s needs while building for the future. The quarter delivered growth in both sales volume and revenue, with an 11.7% YoY increase in sales volume in our packaging business and a 6.8% YoY increase in sales volume in our packaging films business. Our newly commissioned PET chips plant in Egypt achieved approximately 70% capacity utilization in its first full quarter of operations, thus ensuring raw material sufficiency for our BOPET films business. Additionally, our PET chips plant in Panipat, India, achieved approximately 97% capacity utilisation in Q1 FY26. Our 5 billion pack per annum brownfield expansion for aseptic packaging at Sanand, 12 billion pack per annum greenfield aseptic packaging plant in Egypt, 80 million unit per annum capacity WPP bags plant in Mexico, and 39,600 MTPA greenfield PET bottle and mixed flexible waste recycling plant in Noida are all expected to be operational in FY26. These projects are expected to generate new cash flow streams, drive significant topline growth, improve margins, and enhance ROCE, creating considerable shareholder value from FY27 onward. On the regulatory front, the recent implementation of the EPR framework in India marks an important step forward. We see this as a catalyst for accelerating the demand for recycled materials across packaging applications. As the regulatory landscape and consumer confidence increasingly encourage the use of sustainable materials, we continue to strengthen our portfolio with solutions that support a circular economy. Among these are FSSAI-compliant PCR-based films manufactured using up to 100% recycled PET, single-pellet solutions that combine 30% or more recycled PET with virgin PET, enabling the use of recycled PET in food and beverage packaging, water-based inks and adhesives, and PCR-based tubes for the beauty and cosmetics industry, amongst others. Looking ahead, the outlook for the packaging sector remains buoyant, supported by steady growth in consumer spending, rising preference for packaged food and beverages, and increasing adoption of flexible and aseptic packaging formats across multiple categories. However, we anticipate that tariff-related uncertainties may influence supply chain patterns in the coming quarters, and we are closely monitoring these developments. As we carry this momentum into the next quarter, we remain focused on delivering sustainable value to our customers, partners, and communities.” Rajesh Bhatia, Group president and CFO, UFlex, said: “UFlex’s growth journey remains firmly on track, building on the solid momentum of the second half of fiscal 2025 notwithstanding ongoing tariff uncertainties. Consolidated sales volumes and revenue increased YoY by 7.9% and 6.4% respectively, and normalised EBITDA rose 0.3% YoY, while reported EBITDA rose 8.0% YoY during the quarter. Our strategic focus on higher-margin businesses, coupled with improved operational efficiency, has enabled us to deliver robust volume growth across key segments and improve profitability in the face of a challenging market landscape. Our aseptic packaging business achieved its highest-ever quarterly production and sales volumes during the quarter. UFlex is globally well-positioned to steer through the ongoing tariff-related headwinds, supported by its diversified manufacturing footprint across nine global locations. The USMCA, a free trade agreement among the USA, Mexico, and Canada, protects the company’s exports from Mexico to the USA. With India’s EPR mandate for recycled content in plastic packaging in effect from April 2025, UFlex is leading with the production of rPET chips, PCR PET ‘Asclepius’ packaging film containing recycled content, and a forthcoming FSSAI-compliant single-pellet rPET Chips, reinforcing our commitment to sustainable innovation and supporting customers in meeting new regulatory requirements. Looking ahead, we remain optimistic about the business environment. The easing of food inflation, anticipated benefits from repo rate reductions, income tax relief and the forecast of an above-normal monsoon are expected to support a gradual recovery and spur demand for food and beverages in India. With the WPP project in Mexico, aseptic projects in Sanand and Egypt, and the PCR recycling project in Noida are in the process of completion and scheduled for commissioning in FY26. The new projects will not only enhance operational capacities but also offer new avenues of revenue streams and better profitability going ahead. We are hopeful that earnings generated from these operations will help in deleveraging the company’s balance sheet and creating shareholder value.” Result PDF
Containers & Packaging company Uflex announced Q3FY25 results Quarterly (Q3FY25): Consolidated sales volume reached 157,036 MT, a 6.3% YoY increase compared to Q3FY24 and a decline of 6.1% QoQ. Quarterly (Q3FY25): Consolidated net revenue stood at Rs 37,742 million, marking a 12.8% YoY increase from Rs 33,454 million in Q3FY24 and a marginal 2.0% QoQ decline. Quarterly (Q3FY25): Normalized EBITDA increased by 22.3% YoY to Rs 5,207 million, while EBITDA margins expanded by 110 bps YoY to 13.8%. Quarterly (Q3FY25): Normalized PAT stood at Rs 1,112 million, reflecting a margin of 2.9% compared to 1.0% in Q3FY24. Ashok Chaturvedi, Chairman and Managing Director, UFlex, said: “We are pleased to announce that we are setting up a woven polypropylene (WPP) bags manufacturing plant in Mexico for pet food packaging. With an estimated investment of USD 50 Million, this plant will be the first WPP packaging plant in Mexico catering to the lucrative North and South American pet food market, estimated at approx. 90 billion USD in 2025 and expected to reach approx. 135 billion USD by 2030”. “In line with our commitment to support the Government of India’s Extended Producer Responsibility (EPR) legislation, we are proud to announce an investment of Rs 317 crore to strengthen our recycling business with significant investments in advanced recycling technologies. The Indian government has set ambitious targets for the collection, recycling, reuse, and use of recycled content in plastic packaging to promote sustainable packaging, and our enhanced recycling capabilities will empower brand owners to meet their EPR commitments and set a global benchmark in sustainable packaging”. “We believe sustainable packaging is non-negotiable, making it imperative for brand owners to embrace recycling and circular packaging. We are honored to achieve a significant milestone as the first Indian company to receive USFDA approval for recycled PCR content in food applications”. “As regards our PET chips plant in Egypt and debottlenecking of the aseptic plant in Sanand, India, we have achieved mechanical completion of both plants and have commenced activities toward the launch of commercial operations”. Rajesh Bhatia, Group president and CFO, UFlex, said: “Our Q3FY25 results underscore our strong growth momentum, with consolidated sales volume up 6.3% YoY, revenue rising 12.8% YoY, and normalized EBITDA increasing 22.3% YoY, alongside a 110 bps margin expansion YoY to 13.8%. Over the first nine months of FY25, consolidated sales volume grew by 9.2%, revenue by 13.0%, and normalized EBITDA posted an impressive 23.3% increase on YoY basis, setting a solid tone for the last quarter of current fiscal.” "Our strong financial performance this quarter reflects the resilience of our business and the effectiveness of our growth strategy. The anticipated rise in FMCG consumption, spearheaded by tax reliefs and rural investments in the FY26 Budget, along with expected rate cuts, is set to further boost the economic activity." “Looking forward to Q4FY25, we are set to commercially commission a 5-billion-pack capacity expansion at our Asepto facility at Sanand, a 216,000 MTPA virgin PET chips plant in Egypt, and an 18,000 MTPA CPP line in Mexico. These strategic expansions will start kicking in revenue, profitability and cash flow in the year FY26-27 and beyond." "The upcoming 12 billion aseptic packaging facility in Egypt and the woven polypropylene (WPP) bags unit in Mexico in FY26 will further accelerate our growth momentum in high margin value added products. These strategic investments will accelerate topline growth, enhance margins, and unlock new cash flow avenues." "Our PET PCR recycling unit received USFDA approval for recycled content in food applications in Q3FY25. Additionally, a new investment of USD 38 million (Rs 3,171 million) in advanced recycling technologies will enhance our existing 72,300 MTPA capacity (42,600 PCR PET & 29,700 MLP) and further strengthen our recycling business. With a fully operational recycling infrastructure, UFlex is well-positioned to meet the rising demand for recycled packaging materials." Result PDF
Containers & Packaging company Uflex announced H1FY25 & Q2FY25 results Q2FY25 Financial Highlights: 66,927 MTPA sales volume during the quarter. Net revenue of Rs 19,689 million. EBITDA of Rs 2,152 million. EBITDA margin at 10.9%. PAT of Rs 377 million. H1FY25 Financial Highlights: 132,577 MTPA sales volume during H1FY25. Net revenue of Rs 38,430 million. EBITDA of Rs 4,384 million. EBITDA margin at 11.4%. PAT of Rs 855 million. Ashok Chaturvedi, Chairman and Managing Director, UFlex Group, said: “We are pleased with the robust growth in sales volume, revenue, and normalized EBITDA for the second consecutive quarter of FY25. The planned commissioning of our aseptic packaging facility in Egypt in FY26 is a key milestone in our global growth strategy, and we are confident of replicating the success of our aseptic packaging business across international markets. With this, we set our sights on a global manufacturing footprint for our aseptic business. We are pleased to announce the successful launch of our 25K aseptic filling and sealing machine. We have delivered the first machine, and it is running successfully in full swing at our customer’s plant. We are extremely confident about the market opportunity and competitive advantage of this machine. At the heart of our business strategy is a steadfast commitment to sustainability, essential for environmental stewardship and long-term value creation. Going ahead, our focus will be on growing our key markets, expanding our footprint, strengthening our global recycling infrastructure, and investing in artificial intelligence and machine learning to reduce our carbon footprint and increase our operational efficiencies. As a company, we take our role in innovation seriously, and we will continue to develop pioneering solutions to deliver on the changing regulatory and consumer landscape”. Rajesh Bhatia, Group president and CFO, UFlex, said: “Our Q2FY25 results reflect our sustained solid YoY growth trajectory, with sales volume up 10.9%, revenue increasing 13.7%, and normalized EBITDA rising 10.7%. In the first half of the current fiscal year, sales volume increased by 10.7%, revenue grew by 13.0%, and normalized EBITDA witnessed an impressive 253.9% increase. This strong first half sets the stage for an even better second half.” "Looking ahead, we are expanding capacity at the Sanand facility, adding 5 billion cartons post-debottlenecking and commissioning 216,000 MTPA virgin PET chips plant at Egypt and 18,000 MTPA CPP line, which will drive the revenue, profitability, growth in FY25 and beyond." “Our Mexico plant showcased outstanding performance in the first half of the fiscal year, achieving 13.3% growth in sales volume and 34.3% increase in revenue.” Result PDF