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Uflex aims 15% volume growth in FY18

Press Trust of India  |  New Delhi 

Flexible packaging major Uflex is foraying into aseptic liquid packaging segment besides adding more products as it aims an overall volume growth of 15 per cent this fiscal.

The company expects its Sanand-based septic liquid packaging manufacturing plant, where it is investing around Rs 580 crore, to be operational this fiscal.

"Overall volume-wise, we might grow 15 per cent or so this year (fiscal)," Uflex Group President (Corporate Finance and Accounts) R K Jain told PTI.

"We may expect a growth of 15 per cent in the top line, and bottomline may be 20 per cent plus," he added.

The company had unveiled the brand Asepto TM for liquid packaging in January this year.

"We are working on certain machine parts also...We would bring the new technology for printing process and now we are working on some new machine development and printing technology..." Jain said.

Uflex posted a total consolidated revenue of Rs 6,504.79 crore for FY 2016-17 last week. Its net profit for the year was at Rs 348.46 crore, up 11.03 per cent.

"Last year (FY 2016-17) we have grown, volume wise, 9 to 10 per cent and in the bottom line around 11 to 12 per cent. I think overall, it might be better than what we have grown last year," Jain said.

Presently, half of the company's revenue comes from the overseas market, where it is expecting a revival in the packaging film segment.

Over implementation of the new tax regime under GST, Jain said: "(There) might be little slow down in the industry for one or two months after implementation of GST".

"As far as we are concerned, we are quite bullish about the industry for its growth prospects and everything," he added.

Headquartered in Noida, Uflex has manufacturing facilities in India, the UAE, Mexico, Poland, Egypt and the USA.

Aseptic packages are made by laminating poly-ethylene with paperboard and aluminium foil, which ensures that food remains free from bacteria and other harmful microorganisms for a period of at least 8 months at room temperature.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Sun, June 04 2017. 13:42 IST