Uflex Ltd
NSE:UFLEX
Uflex Ltd
Uflex Ltd. is a holding company, which engages in the provision of flexible packaging solutions. The company is headquartered in Noida, Uttar Pradesh. The Company’s segments include Flexible Packaging Activities and Engineering Activities. The company also offers a flexible packaging solution to its customers across the globe. Its business consists of aseptic liquid packaging, flexible packaging, packaging films, chemical’s business, cylinder business, engineering business and holography business. The company is also engaged in manufacturing consumer facing products like N-95 masks and sanitizers. The company manufactures a variety of flexible packaging films, such as biaxially oriented polypropylene (BOPP) films, biaxially oriented polyethylene terephthalate (BOPET) films, cast unoriented polypropylene (CPP) film, metalized films, alox coated films and post-consumer recycled content (PCR) grade polyethylene terephthalate (PET) films asclepius. The company offers finished packaging to a range of products, such as snack foods, candy and confectionery.
Uflex Ltd. is a holding company, which engages in the provision of flexible packaging solutions. The company is headquartered in Noida, Uttar Pradesh. The Company’s segments include Flexible Packaging Activities and Engineering Activities. The company also offers a flexible packaging solution to its customers across the globe. Its business consists of aseptic liquid packaging, flexible packaging, packaging films, chemical’s business, cylinder business, engineering business and holography business. The company is also engaged in manufacturing consumer facing products like N-95 masks and sanitizers. The company manufactures a variety of flexible packaging films, such as biaxially oriented polypropylene (BOPP) films, biaxially oriented polyethylene terephthalate (BOPET) films, cast unoriented polypropylene (CPP) film, metalized films, alox coated films and post-consumer recycled content (PCR) grade polyethylene terephthalate (PET) films asclepius. The company offers finished packaging to a range of products, such as snack foods, candy and confectionery.
Challenging Quarter: Uflex faced macro headwinds, including US tariff uncertainties and GST transition in India, leading to softer demand and pricing pressure, especially in packaging films.
Mixed Revenue Performance: 9-month revenue grew 0.8% YoY to INR 114.157 billion, but Q3 revenue declined 3.8% YoY due to volume softness and import pricing pressure.
Profitability Improvement: Despite flat normalized EBITDA YoY, Q3 saw EBITDA margin expand by 200 bps QoQ to 12.1%, and PAT rose 34% sequentially to INR 361 million.
Aseptic Packaging Growth: Aseptic packaging volumes grew 2.3% YoY in Q3 and 4.4% for 9 months, with management guiding for strong performance in Q4, Q1, and FY '27.
Capacity Expansion: Three major projects (Egypt aseptic plant, Noida recycling plant, Mexico WPP plant) are expected to be commissioned within the next quarter, supporting future growth.
Debt Plateauing: Management expects leverage to have peaked, with improvement ahead as new projects ramp up and EBITDA increases; current cost of funds at 6.9–7%.
Guidance Maintained: Management reaffirmed FY '26 EBITDA guidance of INR 1,800–1,815 crores and expects EBITDA margin around 12%, with further improvement likely in FY '27.
