Uflex

Flexible packaging and solutions firm UFlex Ltd is investing over Rs 750 crore to set up a woven polypropylene bags manufacturing plant in Mexico and a new recycling facility at Noida, to be operational in 2025-26, according to its Chairman and Managing Director Ashok Chaturvedi. The company's board had approved setting up of the woven polypropylene bags (WPP) manufacturing plant in Mexico at an investment of USD 50 million (nearly Rs 435 crore) to cater to North and South American pet food market, along with the recycling unit at Noida a an investment of Rs 317.11 crore last week. "With an estimated investment of USD 50 million, this plant will be the first WPP packaging plant in Mexico catering to the lucrative North and South American pet food (bags) market, estimated at approximately USD 90 billion USD in 2025 and expected to reach approximately USD 135 billion by 2030," Chaturvedi said. The plant in Mexico will have a capacity of 80 million bags per annum and the capacity will

Packaging materials and solutions company Uflex Ltd has reported a consolidated net loss of Rs 64.58 crore for the second quarter ended September 30, 2024. The company had posted a net profit of Rs 63.31 crore during the July-September quarter a year ago, Uflex said in a late-night regulatory filing on Wednesday. However, its revenue from operations was up 14.66 per cent to Rs 3,781.03 crore in the September quarter. It was at Rs 3,297.45 crore in the corresponding period of the previous fiscal. Uflex's total expenses increased 15.60 per cent in the September quarter of this financial year to Rs 3,791.57 crore. The total income of Uflex was up 13.68 per cent to Rs 3,853.21 crore. Its revenue from 'Flexible Packaging Activities' was up 13.71 per cent to Rs 3,752.57 crore in the September quarter of this financial year. Uflex's revenue from engineering activities was up 53.59 per cent to Rs 130.60 crore in the June quarter. During the quarter Uflex's sales volume was at 66,927 MTP

UFlex share price surged after the company announced that its step down wholly owned subsidiary, Flex Asepto (Egypt) SAE, has decided to set up an Aseptic Packaging facility in Egypt.

Uflex said the packaging films business gained substantial momentum in Q1FY25 quarter, fueled by improved contribution margin in India

Packaging materials and solution company Uflex Ltd on Monday said its consolidated net loss narrowed to Rs 98.43 crore in the first quarter ended June 2024. The company had posted a net loss of Rs 270.95 crore during the April-June quarter a year ago, according to a regulatory filing from Uflex. Its revenue from operation was up 12.13 per cent to Rs 3,653.75 crore in the June quarter. It was at Rs 3,258.26 crore in the corresponding period of the previous fiscal. Uflex's total expenses increased 9.41 per cent in the June quarter to Rs 3,577.45 crore. Its revenue from 'Flexible Packaging Activities' was up 11.82 per cent to Rs 3,572.11 crore in the June quarter. Uflex's revenue from engineering activities was up 40.41 per cent to Rs 115.13 crore in the June quarter. The total income rose by 12.33 per cent to Rs 3,682.52 crore. Group president and CFO Rajesh Bhatia said: "We had a good first quarter, and are on track for a strong recovery in the global packaging films business bot

Stocks to watch on June 05: Deep Industries secured a letter of award from Oil and Natural Gas Corporation (ONGC), Kakinada, for hiring DPDU (GDU) for processing gas for 10 months

Overall, as many as 464 stocks among the Nifty 500 were seen trading above the 200-DMA highlighting the underlying positive sentiment in the market.

The trend among stocks in oversold regions remains highly fragile and could see more downside ahead

Packaging material manufacturer Uflex Ltd on Tuesday reported a 99.7 per cent decline in its consolidated net profit to Rs 83 lakh for the fourth quarter ended March 31, 2023 due to currency exchange losses. The company had posted a net profit of Rs 350.59 crore during the January-March quarter a year ago, Uflex said in a regulatory filing. Its revenue from operation was down 14 per cent to Rs 3,320.18 crore during the quarter under review as against Rs 3,861.86 crore in the corresponding period of the previous fiscal. Uflex's total expenses were at Rs 3,306.15 crore, down 4.37 per cent in the last quarter of FY23, as against Rs 3,457.39 crore. Its total income in the March quarter was at Rs 3,393.51 crore, down 14.15 per cent. For the fiscal ended March 2023, Uflex's net profit fell 56.27 per cent to Rs 480.76 crore from Rs 1,099.43 crore in FY22. "The profitability in FY23 was impacted by unprecedented currency devaluation in Egypt and currency exchange loss on account of the U

Tonnes of documents, 120 hard disks and 50 diaries containing information related to bogus transactions have been recovered during the raids

Shares of Uflex India tumbled 15 per cent to Rs 366 on the BSE in Monday's intra-day trade

The officials found 20 bank accounts belonging to people from the economically weaker section of the society with transactions ranging from Rs 5-50 crore

The Income Tax Department on Tuesday conducted searches at multiple premises linked to packaging major Uflex as part of an alleged tax evasion investigation against the company, officials said. Around 60-70 premises, including the company offices and linked premises in Delhi, Noida (Uttar Pradesh), Jammu and Kashmir, Gujarat, West Bengal, Tamil Nadu, Karnataka, are being covered, they said. No immediate reaction from the company on PTI's queries was available. According to the company's information available on its e-portal, it is "India's largest flexible packaging materials and solutions company and a leading global polymer sciences corporation.

According to several media reports, the Income Tax department was conducting a raid at the office of Uflex in Noida, alleging that the company has issued several bogus bills

It is gearing up to make the six billion paper straws per annum needed by FMCG companies

In Q4FY21, Uflex's consolidated Ebitda jumped 87 per cent YoY to Rs 516.4 crore while margins improved to 20.1 per cent from 15.6 per cent in Q4FY20

Jindal Polyfilms has hit a new high, surging 10 per cent at Rs 941 on the BSE in the intra-day trade. The stock has zoomed 91 per cent in the past 10 trading days of the March

Midcaps are likely to continue their outperformance for the coming days

Due to the Covid-19 pandemic, flexible packaging has gained much more importance, the company said

Packaging materials and solution company Uflex Ltd on Tuesday reported over two-fold jump in its consolidated net profit at Rs 196.54 crore