Uflex sales up 9% as it invests $300m in next three years
The firm registered consolidated net revenue for the June quarter of FY 2015 of Rs.1,530 crore ($250m) against Rs.1,398 crore ($22m) for the same period last year.
The consolidated net profit for the quarter ended June 30, 2014 has been higher at Rs.64 crore ($10m) as against Rs.43 crore ($7m) for the same period last year up by 49%.
Ashok Chaturvedi, managing director, Uflex said thehigher revenue growth is attributed to an increased uptake of flexible packaging offered by the company across sectors globally.
It makes products including Biaxially Oriented Polyethylene Teraphthalate (BOPET), Biaxially Oriented Polypropylene (BOPP) films, lamination and pouches for snacks, candy, cereals, beverages, cheese and dairy products.
Chaturvedi said the company is now working on its expansion plans and will invest around Rs.1,800 crore ($300m) in the next three years to achieve its growth plans in the future.
“Our continued commitment towards adding value to clients’ businesses, with a range of packaging and adhering to time sensitive operational practices has ensured strong relationships,” he said.
“This growing relationship is reflected in our sustained growth over the years.”
Uflex's manufacturing base in India, Mexico, Dubai, Egypt, Poland and the US caters to global markets spanning the US, Canada, South America, UK, Europe, Russia, CIS countries, South Africa and other African countries, the Middle East and the South Asian Countries.
