UFlex Closes Q2 of FY19-20 with EBITDA of 279 cr (YoY Growth of 5.4%) & EBITDA Margin of 14.9%

 
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13 November 2019, Noida: UFlex Ltd, India’s largest multinational flexible packaging company and a global player in polymer sciences, today declared its earnings for the quarter ended September 30, 2019 and its consolidated EBITDA for Q2 FY19-20 stood at INR 278.8 cr, showing an increase of 5.4% YoY basis while its consolidated net profit fell marginally by 1.8% YoY to INR 94 cr.

The Total Production Volume during the quarter was 94218 MT as compared to 102442 MT during Sept 2018 quarter and Total Sales Volume for the quarter was 93951 MT as compared to 101081 MT in Sept 2018 quarter. Lower production and sales volume are attributed to closure of one BOPET line in Dubai as it is being shifted to Russia. The company reported consolidated net revenues of INR 1875.3 cr for second quarter of fiscal 2019-20, registering a drop of 7.2% on Y-o-Y basis.

Talking about the earnings for the company, Rajesh Bhatia, Group CFO at UFlex Limited said, “Q2 FY2019-20 was a steady quarter and despite the closure of one BOPET line in Dubai, which is being shifted to Russia and will be operational in Q4FY20, the EBITDA grew by 5.4% and EBITDA margins improved from 13.1% to 14.9% on Y-o-Y basis.”

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