UFLEX Limited announced, on 1st April 2025, that the promoter group has complied with Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
The promoter, Ashok Chaturvedi, declared on 3rd June 2025, that he, along with persons acting in concert (PAC), has not made any encumbrance, directly or indirectly, other than those already disclosed during the financial year 2024-2025.
The announcement includes a list of Promoter(s) & Promoter Group (PACs) comprising 21 entities and individuals.
UFLEX Limited reported a "very satisfying year" for FY25, with consolidated revenue increasing by 12.4% to over ₹15,000 crore, and operational EBITDA growing by approximately 18% compared to FY24.
The company's Profit After Tax (PAT) turned positive at about ₹142 crore in FY25, a significant improvement from a loss of ₹690 crore in FY24. This was aided by a substantial reduction in exceptional losses to ₹177 crore (from ₹871 crore in FY24) primarily in Egypt and Nigeria.
Key drivers for the improved performance included:
A 10.4% increase in Packaging Films volume and 10.3% rise in sales, with improved margins. UFLEX achieved over 500,000 tons in production and sales volume for Packaging Films for the first time.
Strong contribution from Packaging Films businesses in India and Hungary, and a significant turnaround in Nigeria.
The Aseptic Packaging business performed exceptionally, utilizing over 110% of its 7 billion packs capacity by producing 7.87 billion packs in FY25. The 12 billion packs capacity expansion is in its final stages of commissioning.
For FY26, UFLEX expects a 10% revenue growth, targeting approximately ₹16,700 crore, with an EBITDA margin of 12.5% to 13%, leading to an EBITDA of around ₹2,100 crore.
The company is set to commission several new projects in FY26, which will contribute to future growth:
A WPP bags project for the pet food industry in Mexico.
Expansion of the Aseptic Packaging business in Egypt.
Recycling facilities at Noida, expected to commission later in FY26, with benefits rolling in from FY27.
UFLEX's gross debt stood at approximately ₹8,100 crore and net debt at about ₹6,800 crore as of March 31, 2025. The company plans to repay about ₹1,175 crore of long-term debt in FY26.
Capex for FY25 was approximately ₹1,726 crore, and for FY26, the company plans to spend close to ₹1,200 crore on ongoing expansion projects. The company maintains a substantial cash reserve of about ₹1,273 crore.
Management noted an industry-wide overhang for BOPP films due to new capacity additions in India starting June onwards, which might impact pricing and margins. However, value-added products are expected to offer some insulation.
UFLEX is not planning any new BOPET or BOPP capacity additions currently.
The company declared a dividend of ₹3 per share (30%).
UFlex Limited reported consolidated net revenue of ₹38,738 million for Q4 FY25, with normalized EBITDA at ₹4,782 million and a margin of 12.3%. Profit before exceptional items and tax for the quarter was ₹1,119 million.
Total sales volume for Q4 FY25 reached 165,147 MT, a 4.6% YoY increase, comprising 76.8% packaging films and 23.2% packaging.
For FY25, consolidated sales volume grew by 8.0% YoY to 647,499 MT, with revenue increasing by 12.4% YoY to ₹151,838 million. Normalized EBITDA increased by 18.1% YoY to ₹19,024 million, with a margin of 12.5%. Normalized profit after tax was up by 77.5% YoY to ₹3,201 million.
Geographically, India contributed 46.1% to revenue, followed by the Americas (18.4%), Europe (17.4%), and the Middle East & Africa (15.5%).
Packaging business revenue grew by 14.4% YoY and 16.3% QoQ in Q4 FY25. Consolidated packaging films production volume grew by 3.3% YoY to 127,778 MT in Q4 FY25, with capacity utilization at 81.9%.
UFlex India's packaging film capacity utilisation increased by 140 bps to 73.8% in Q4 FY25, with production volume rising by 7.9% YoY.
The Americas region saw packaging films capacity utilization rise by 710 bps to 97.8% in Q4 FY25, with a 7.8% YoY growth in production volume.
In Europe, UFlex packaging film production volume grew by 1.8% in Q4 FY25, with capacity utilization at 82.6%. Sales volume increased by 11.4% YoY.
In the MEA region, capacity utilization remained constant at 83.3% in Q4 FY25, with production volume slightly lower than the previous year. The Nigeria BOPET line saw a notable increase in capacity utilization and production volume.
The company incurred a capital expenditure of ₹6,681 million during the quarter, primarily allocated to the aseptic packaging facility in Egypt, the WPP bag manufacturing unit in Mexico, and debottlenecking at the Asepto facility in Sanand, India.
UFlex is setting up a WPP bags manufacturing unit in Mexico with a planned capital outlay of approximately USD 50 million.
The aseptic liquid packaging facility in Egypt is under development with a total estimated capex of USD 126 million, with commercial commissioning expected in FY26.
The debottlenecking project in the Aseptic Liquid Packaging plant at Sanand aims to increase annual capacity by 5 billion carton packs, with commercial commissioning expected in Q1 FY26.
UFlex plans to set up two recycling plants in Noida to process 39,600 MTPA of PCR PET bottle and mixed plastic (MLP) waste in India.
Management Commentary: Mr. Ashok Chaturvedi, Chairman and Managing Director, UFlex Group, said, “FY25 was a landmark year for UFlex, marked by strategic global expansion and a great er push toward sustainable solutions and recycling... We foresee a strong FY26 fueled by an increased demand for sustainable packaging films, flexible packaging solutions, and advancements in film technologies.”
Future Outlook: The company expects the aseptic packaging plant in Egypt and the WPP bags plant in Mexico to become operational in FY26. UFlex is investing ~ ₹3,171 million in advanced recycling technologies to expand PCR PET and MLP capacity.