Conference Call with Uflex Management and Analysts on Q3FY23 Performance and Outlook. Listen to the full earnings transcript.
Containers & Packaging firm Uflex announced Q3FY23 results: Q3FY23: Total income shows marginal growth of 0.6% YoY to Rs 3,496 crore. For the nine months ended December 31, 2022, total income grew 23% YoY to Rs 11,391 crore. The company's earnings before interest, depreciation & amortization, tax and foreign exchange gain/loss are at Rs 429 crore as compared to Rs 599 crore in the corresponding quarter of FY22. UFlex recorded a profit (PAT) of Rs 314 crore. During the third quarter, notional foreign exchange losses due to currency devaluation/fluctuations aggregated to Rs 236 crore, which is unprecedented. Packaging sales volumes grew 34.3% YoY. Continued progress on its sustainability vision with a presentation to brand owners and industry leaders at an Alliance to End Plastic Waste (AEPW) board meeting at the New York Stock Exchange; showcases expertise in building circularity and strengthening the waste-to-wealth value chain on a global platform. Ashok Chaturvedi, Chairman and Managing Director UFlex Ltd., stated, "It has been a challenging quarter for the packaging industry globally, with rising energy costs in the European Union, rising interest rates, and weakened growth momentum in the United States and other developed economies. UFlex is confident of navigating these current macroeconomic conditions and will continue to deliver longterm stakeholder value. Our distributed global manufacturing strategy, execution capabilities, investments in research and development, and product innovation will enable us to deliver year-on-year profitable growth. We are making great progress on our sustainability journey and are in the process of commissioning PostConsumer Recyclate (PCR) and Multi-Layered Plastic (MLP) recycling facilities in Mexico and Poland. UFlex has recycled more than half a million tons of Multi-Layer mixed Plastic Waste (MLP) so far. In Q3, 2022, it was a great honor for UFlex to be invited to make a presentation on our recycling experience to brand owners and industry leaders at an Alliance to End Plastic Waste board meeting at the New York Stock Exchange. UFlex has offered to lend its technical expertise in recycling Multi-Layer mixed Plastic Waste to civic bodies, regulators, policymakers, and brand owners globally". Result PDF
Conference Call with Uflex Management and Analysts on Q2FY23 Performance and Outlook. Listen to the full earnings transcript.
Container & packaging company Uflex announced Q2FY23 results: Q2FY23: EBITDA recorded an increase of 16.2% YoY to Rs 493.2 crore Aseptic Packaging sales volumes increase by 149% YoY PAT at Rs 190.7 crore in the September quarter -11.7% YoY growth Continued progress on sustainability priorities with recycling facilities close to commissioning in Mexico and Poland Ashok Chaturvedi, Chairman and Managing Director UFlex Ltd, stated, "Our consistent focus on product innovation, sustainability, vertical integration, and customer orientation continues to pay rich dividends. In line with our continued focus and investments in sustainability, we are in the process of commissioning our Post-Consumer Recyclate (PCR) and Multi-Layered Plastic (MLP) recycling facilities in Mexico and Poland. We have commissioned a CPPpackaging films plant with a capacity of 18000 MTPA at Dharwad, India during the quarter. While the flexible packaging industry has witnessed stupendous growth in the last many years, the emanating energy challenges in Europe coupled with the impending fear of global recession/high inflation in the USA and Europe resulting in aggressive changes in monitory policies of major central banks have had an impact on the packaging films industry during the quarter. Having said that, we are confident of sustaining our leadership position across product categories in the packaging industry". Rajesh Bhatia, Group CFO, UFlex Ltd, said "Our focus on operational excellence, high engagement with our customers in global markets, and continued investments in building capacity have enabled us to sustain healthy year-on-year revenue and profitability growth. We are looking forward to commissioning our BOPETfilms facility at Dharwad, Karnataka and Dubai in FY23. The energy costs in our European operations are a matter of concern in FY23." Result PDF
Containers & Packaging firm Uflex Announced Q1FY23 Result : UFlex Posts Highest ever Quarterly Net Revenue & PAT in Q1FY2023 46.5% YoY growth in Revenue at INR 4045.8 cr in Q1FY23 PAT at INR 374.5 cr, up by 41.9% YoYin Q1FY23 EBITDA jumps by 44.3% YoY to INR 725 cr in Q1FY23 Aseptic Liquid Packaging Business outperforms with 123% YoY jump in sales volume in Q1FY23 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. UFlex Ltd, India's largest multinational in flexible packaging materials and solutions, announced its business performance results for the first quarter of FY2022-23 today. 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%. 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%." Result PDF
Containers & Packaging firm Uflex declares Q4FY22 result: UFlex Wraps-up Q4FY22 &. FY2021-22 on a high note Posts 52.2% YoY growth in Revenue at INR 3915.1 cr in Q4FY22 EBITDA jumps by 42.2% YoY to INR 734.4 cr in Q4FY22 PAT at INR 350.3 cr, up by 32.3% YoY in Q4FY22 The growth in revenue was backed by higher production and sales volumes of Packaging films and Packaging businesses. Total Production volume witnessed a jump of 26.2% YoY to reach 160475 MT in Q4FY22 whereas Total Sales volume jumped by 20% YoY to reach 164079 MT in Q4FY21-22. For FY2021-22, the company achieved consolidated Revenue of INR 13224.7 cr rising by 48.3% YoY driven by 29.3% sales volume growth. The consolidated EBITDA for FY2021-22 registered a growth of 24.8% YoY to reach INR 2280 cr and consolidated Net Profit rose by 30.3% YoY to INR 1098.3 cr for the same period. The EBITDA margin for FY21-22 remained healthy at 17.2%. Speaking on the financial performance, Rajesh Bhatia Group CFO, UFlex Ltd expressed, "Our performance in the quarter is reflective of our determined approach to match the fast paced consumption environment with enhanced production volumes. Across all fronts - be it production/sales volumes, Revenue, EBITDA and PAT, new highs have been achieved in Q4 as well as in full FY21-22. We recently commissioned our new line in Aseptic Liquid Packaging facility at Sanand, Gujarat thereby doubling its capacity to tbn packs per annum. He added, "More good news poured in also with Credit rating agency CRISIL upgrading our company's short term rating to A1+ and long term rating to AA- inferring improvement in the business and financial risk profile, thus reinforcing our leadership position in the flexible packaging industry. " Result PDF