- UFlex raises the bar with its innovations in the second quarter of FY20-21
- Despite the COVID19 crisis, Russia Packaging Films plant commences commercial production
- UFlex posts strong performance with 19.2% rise in consolidated revenue, achieves highest ever quarterly production, sales, revenue, EBITDA & PAT
One of India’s leading multinational players in polymer sciences, UFlex Limited, the flexible packing solutions provider recorded one of its strongest performances during the second quarter of 2020-21, riding on its several industry innovations. The consolidated revenue year on year rose to 19.2% at ₹2234.5 Crore, net profit jumping up to 136% at ₹221.8 Crore. The company achieved business growth in the two successful quarters, at a time the whole world is faced with the uncertainties of COVID19. During this time, UFlex added new customers in its multiple lines of business.
“During the pandemic, UFlex was pivotal in supplying packaged products to the consumers through our customers”, said Ashok Chaturvedi, Chairman and Managing Director of UFlex Limited. He added that UFlex is future-ready with a better outreach of sustainable solutions to the customers in India and abroad. Scaling up their global operations they commenced their commercial operations from their Russian facility which will bring UFlex customers closer in Russian and nearby markets, informed Mr. Chaturvedi.
During the second quarter, UFlex introduced many innovations in their Engineering, Holography, Chemicals, Flexible Packaging, and Films businesses. UFlex introduced many innovations fighting COVID19 which included PPE Kits, Hand Sanitizer labs, etc. “We are eagerly waiting for this pandemic issue to be over, that will bring the focus back on sustainability in flexible packaging. Uflex is ready to commercialize our various biodegradability initiatives, added Mr. Chaturvedi”
In Engineering business they introduced Collar-type Form Fill Seal Machine for Snacks Packaging, which was in line with Prime Minister Modi’s clarion call on ‘Atmanirbhar Bharat’ initiative. The locally developed higher speed Collar Type Form Fill & Seal machine CT 120 got great success, informed UFlex. The machine comes completely servo driven with an operator-friendly human interface. Another product they introduced from the engineering division, the first from UFlex in the Rotary Machine Foray into Spice Packaging. The new machine will enable spice manufacturers to speed up the packaging at a speed of 300 to 400 packs per minute in pack sizes between 15 gms to 25 gms.
UFlex Holography division introduced three products – Digital Foil for Ink & Varnish, Registered Lens Label for Edible Oil Packs, and Labels for Hand-sanitizer. With huge potential in the global market, the UFlex team is already acquired the international business in digital foil for ink varnish. With Lens label counterfeiting challenges were solved for a leading edible oil manufacturer, which was making a big hole on sales, profit loss as well as supply chain loss claims. The solutions are accepted widely by manufacturers.
The Chemicals division of UFlex launched toluene-free inks for vinyl, PU & polyamide-based chemistries, complying with the revised guidelines issued by Bureau of Indian Standards – BIS IS 15495:2020. The chemical division also launched Single Solvent-free Adhesives with Multiple Hardeners with one resin compatible, and with three different hardeners for general to medium to high-performance applications, which will help customers to reduce their adhesives inventory. The third innovation, a water-based ‘side and bottom sealing adhesive’ for automated high-speed paper bag making machines, and appreciated by Amazon & Flipkart, to achieve their sustainability goals.
Its flagship Flexible Packaging Business created packaging formats for big brands like Nestle, AgroTech Foods, and Olam Agro for its product variants with Bespoke Packaging Innovation. UFlex designed a structure comprising of a 10-micron polyester pack with 6.35-micron Aluminum foil & 50-micron EVOH Poly. This new packaging will provide excellent moisture and oxygen barrier to pack seasoning that needs the aroma to be retained till its consumption of Nestle’s Maggi Chilli Garlic Fried Rice Instant Spice Mix.
5 innovations were launched by Films Business – Metal Textured Film for Shelf-appeal, Ultra-low OTR PET Film for Food Packaging, BOPET Film for Printing & Lamination Application, Sealable & Peelable BOPET Film with Water-based Coating for Lidding, and High Oxygen Barrier BOPET Film for Dry & Chilled Food Packaging. The entire manufacturing of Metal Textured Film for Shelf-appeal by UFlex makes the film sustainable which involves no use of solvents or UV radiation. The BOPET Film for Printing & Lamination Application is suited to pack confectionaries, snacks, dry foods, dairy products, perishable products, and processed foods.
Since its inception in 1985, UFlex has grown from strength to strength, through its customer-oriented innovations and today evolved as a truly Indian Multinational with consumers across the world. With an installed capacity of around 1,35,000 TPA and has packaging film manufacturing facilities in India, UAE, Mexico Egypt, Poland, USA, and Russia. UFlex today has state-of-the-art packaging facilities at multiple locations in India.
For more details, visit www.uflexltd.com
