Uflex said that its wholly owned subsidiary, Flex Middle East, FZE, Dubai has incorporated a step down subsidiary named Flex Films AZB AFEZCO in Azerbaijan on 17th March 2025.
The rationale for incorporation of the company is to set up a manufacturing facility for Biaxially Oriented Polypropylene (BOPP) packaging film in Azerbaijan and sell it in domestic market as well as in other adjoining Commonwealth of Independent States (CIS) and European market.Flex Middle East, FZE, Dubai, has fully subscribed the share capital of Flex Films AZB AFEZCO for $50,000.
UFlex is India's largest multinational flexible packaging materials & solutions company and a global player in polymer sciences.
The company reported consolidated net profit of Rs 136.81 crore in Q3 FY25, compared with net loss of Rs 67.27 crore posted in Q3 FY24. Revenue from operations jumped 12.84% YoY to Rs 3,734.68 crore in the quarter ended 31 December 2024.
The counter rose 0.47% to end at Rs 466.25 on Tuesday, 18 March 2025.
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