Uflex expands flexible packaging business to Russia, Nigeria and Hungary

Uflex Limited, a flexible packaging company, declared its earnings for the quarter ended thirty June 2022 on 13 August 2019. The consolidated revenue grew by 3.6% to Rs one,982 crore in Q1 and EBITDA (earnings before involvement, taxation, depreciation and acquittal) rose by viii.7% to Rs 277.3 crore year over year. On standalone ground, the revenue increased past 2.23% to Rs 1,051 crore and EBITDA jumped by 11.vii% to Rs 132.six crore.

The consolidated internet profit dropped past 3.6% twelvemonth over year to Rs 90.7 crore for Q1 the FY 2019-20, due to higher tax provision. Talking about the earnings, Rajesh Bhatia, grouping principal fiscal officeholder at Uflex said, "This quarter while our total production volume was well-nigh abiding at 100814 metric tons yr over year basis, packaging production book was up by iv.8% twelvemonth over twelvemonth to 21018 metric tons." He continued, "To optimally apply our film line capacity, we are shifting one of our BOPET film manufacturing line from UAE to Russian federation, since the production from this line was already largely defended to markets in Russia and CIS countries. This will enable us to serve customers locally apart from substantial cost saving of freight, energy and import duties."

Ashok Chaturvedi, chairman and managing director, Uflex said, "Uflex has
progressed exponentially in the concluding few years with its products, technological and
applied science capabilities, keeping in mind the evolving needs of the packaging industry, along with environmental needs. Nosotros have been striving hard and making all possible efforts to provide our customers with innovative and sustainable packaging solutions that are too economical. To ensure that nosotros are future-set and accept a better outreach of sustainable solutions to our clients located globally, we are scaling up our operations internationally. Our ongoing investment in Hungary, Nigeria and Russia to set up manufacturing facilities for packaging films attests our commitment to deliver packaging excellence to each of our customers."

He further commented, "As leaders in the manufacture, we are conscious of the challenge that noise around plastic poses. To address the issue of this rather solvable problem, Uflex is working on a range of revolutionary plastic films that volition be bio-degradable as well recyclable by nature, thereby reducing plastic waste matter going into landfills and save our planet."

Every bit yous join u.s. today from India and elsewhere, nosotros accept a favour to enquire. Through these times of ambiguity and claiming, the packaging industry in India and in almost parts of the world has been fortunate. Nosotros are at present read in more than 90 countries as our coverage widens and increases in touch on. Our traffic equally per analytics more doubled in 2022 and many readers chose to support usa financially even when advertising fell to pieces.

Equally we come up out of the pandemic in the next few months, we hope to over again expand our geography and evolve our high-impact reporting and authoritative and technical data, with some of the best correspondents in the industry. If there were always a time to support us, information technology is at present. You can power Packaging Southward Asia's balanced industry journalism and help to sustain the states by subscribing.

Subscribe Now

taylorhising.blogspot.com

Source: https://packagingsouthasia.com/type-of-packaging/flexible-packaging/uflex-expands-flexible-packaging-business-to-russia-nigeria-and-hungary/

Share this post