India’s largest
multinational flexible packaging company and a global player in polymer
sciences, today declared its earnings for Q4 (January-March) and FY2019-20. The
company has had a strong quarter with a surge in consolidated Net Profit by
43.5% YoY to 100.6 cr for Q4 FY19-20; whereas it’s consolidated EBITDA rose by
6.3% YoY to 276.4 cr and EBITDA margin improved to 15.6% from 12.6% last year.
Ashok Chaturvedi,
Chairman & Managing Director, UFlex Limited stated, “The year that went by
brought its own set of challenges starting with slowdown in the economy to rising
debate on plastic waste management and lastly the unexpected disruptions caused
by COVID 19 pandemic. As a focused group, these challenges have formed to be a
flagpole to our innovation for tomorrow. Even during this crisis, we continued
our operations such that supply chain of essential commodities like food and
pharma wasn’t completely interrupted and these packaged goods reached public at
large.”
Mr. Chaturvedi
continued, “With a steadfast resolve to center our future growth on
sustainability, we commissioned India’s first Post-Consumer PET bottle and
Multi-layer plastic (MLP) waste washing and recycling lines in Noida. These
lines will upcycle plastic waste to form chips and granules further used for
endless applications such as our green packaging film Asclepius and useful
recycled plastic products like flower pot, dustbins, buckets, outdoor furniture
and more thus pushing the plastic waste out of the environment and reinstating
the recycled plastic back in the economy.”
Some remarkable developments that UFlex made in Q4
FY2019-20 were:
Eco friendly Paper
based Tubes with Reduced Plastic at Source: The tubes business launched
first-of-its-kind eco-friendly paper based tubes for the cosmetic and food
industry. Depending on application and pack size, these tubes help reduce
plastic consumption at source by upto 65% by replacing it with paper. The
virgin kraft paper used in tubes are laden with properties of high bursting
force and very low moisture absorption properties; and lend the tubes an earthy
and rusty look.
Launched Fast Cure
Solvent-free Adhesive SL 777A/999C - A fast cure laminating adhesive for
flexible packaging industry, it ensures no change in Coefficient of Friction (CoF)
even after the process of lamination.
Ramped-up it’s offerings with New Path-breaking
Innovations in Cylinders:
In order to add
aesthetics, enhance quality and increase efficiency, the Cylinders division at
UFlex installed a new line and also launched speciality cylinders in the
quarter.
a. Line Installation
for Automated Chrome Plating on Rotogravure Cylinder - The Cylinder Business of
UFlex installed a new automated Chrome Plating Line for Rotogravure Cylinders
that helps enhance efficiency and ensure consistency with improved print
quality. It also launched Water-based Cylinders throwing up new opportunities
for the business to tap into customers looking for green and cost effective
printing processes.
b. Special Effects
through Specialized Cylinders – With the development of Laser Engraving
specialized Cylinders that produces holographic and 2D effects, UFlex has
achieved high depth tissue paper embossing and cotton handbag paper embossing,
a feat never attempted before in the industry.
c. Water based
Cylinders - Water based cylinder is a new innovation to achieve low ink GSM and
low volatile organic compound (VOC) thereby helping achieve low cost and
further eco-friendliness
Innovation by Engineering Business to Boost Output
The engineering
business made significant machine developments that are set to give thrust to
Pharmaceutical and Flexible packaging requirement.
a. Engineered
Special Slitters to Boost Efficiency & Volumes: Developed secondary slitter
ACCUSLIT-25 for efficient slitting of jumbo PET/BOPP and other films. Made for
the first time in India, ACCUSLIT-25 has proved to be a substitute for slitters
imported so far for this use. The division also developed a Special Slitting
Machine with high re-winder diameter to fulfil high volumes of requirement for
Pharma Packaging.
b. New Oil Pouch
Packaging Machines- For optimum packing of edible oil, a machine with the
ability to handle both virgin film as well as laminated films was built that
has the capacity to pack one litre oil packs at a speed of 60 Packs per minute.
