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Businesswire India Press Releases

Uflex Announces Dividend of 75%

14-09-2011 05:27 PM | Source : UFLEX Limited (Business Wire India)
 
 
Uflex Ltd, the Bombay Stock Exchange (UFLEX: 500148) and NSE listed, India’s largest flexible packaging company has announced dividend @ 75% (Rs. 7.50 per equity share) for the financial year 2010-2011. Standing on its long-term commitment to the shareholders, the company declared the dividend at the meeting held on September 10, 2011. The dividends will be dispatched to the members on September 21, 2011.

The announcement of the dividend is backed by company’s robust business growth and a 58% increase in its consolidated net profit before extra ordinary income for the quarter ended June 30, 2011 at Rs. 95.57 crore as against Rs. 60.50 crore for the same period last year.

The firm's consolidated revenue for the June quarter of 2011 stood at Rs. 1109.26 crore as against Rs. 660.63 crore for the same quarter last year, up 67.9%. The higher revenue growth is attributed to new capacity expansion globally and increased uptake of innovative flexible packaging solutions offered by the company across sectors.

According to Mr. Ashok Chaturvedi, Chairman and M.D. of UFLEX Ltd, “We have declared dividend of 75% as a part of our commitment of further strengthening our relationship with our valued shareholders. At Uflex, our focus has been to provide innovative end-to-end solutions to our discerning clients, which is reflected in our improved financial performance consistently over the years. We are in a process of adding new facilities at the existing facilities and strengthening our global footprint by entering new markets and exploring better possibilities. Our growth is backed by the undeterred support of our clients and our employees who are a significant part of our growth story and we are happy to announce the roll-out of the dividend to the members.’’

Earlier this year, Uflex Ltd has completed the expansion of its facility in Mexico in the quarter ended June 30, 2011. This facility has trade pacts and part of NAFTA and thus access to a large market like North America. The expansion here was in two phases of 30000 MT capacity each, aggregating a total capacity of 60000 MT, and involving total capital investment of USD 109 million.

The company recently commissioned an AL-OX coater for Packaging films at its Egypt plant in 6th of October City, near Cairo. With this, UFLEX joins the list of handful manufacturers, capable of producing ALOX-coated films.

Uflex recently initiated the setting up of a new plant for manufacturing of 30,000 MTs of polyester film at Poland. The company will set up the plant in Wrzesnia with an investment of $80 million (around Rs 360 crore), which is expected to be operationalised by June 2012.

The Company had recently announced plans to invest total Rs 380-crore to set up polyester film plants in Kentucky, US with an annual capacity of 60,000 metric tonnes. The 1st phase will start production by December 2012 having annual capacity of 30000 MTs.

Uflex is the only integrated unit of its kind in the world with flexible packaging at its core. It has vast capacities for production of Polyester chips, Biaxially Oriented Polyethylene Teraphthalate (BOPET) and Biaxially Oriented Polypropylene (BOPP) films, Printing & Coating Inks, facilities for Holography, Metalization & PVDC coating, making Gravure Printing Cylinders & Flexo Printing plates, Gravure Printing, Lamination and Pouch formation.

The company's partial client list includes Unilever, Pepsi, Wrigley, Procter & Gamble, Colgate, Palmolive, Nestle, Gillette, Ranbaxy, Perfetti, Joyco, Monsanto, ITC, Godrej Pillsbury, Tata Tea, Hindustan Petroleum, Indian Oil, Britannia, Dabur, Haldiram, Wockhardt, HUL, Parle Biscuit, and Birla 3M, among others.

About UFLEX Ltd

UFLEX Ltd (www.uflexltd.com) is the Bombay Stock Exchange (UFLEX: 500148) and NSE listed India's largest flexible packaging company with large manufacturing capacities of plastic film and packaging products providing end-to-end solutions to clients across more than 108 countries. It has vast capacities for production of Polyester chips, Biaxially Oriented Polyethylene Teraphthalate (BOPET) and Biaxially Oriented Polypropylene (BOPP) films, Printing & Coating Inks, facilities for Holography, Metalization & PVDC coating, making Gravure Printing Cylinders, Gravure Printing, Lamination and Pouch formation.

Synonymous with flexible packaging industry in the country, UFLEX group has Gross annual revenue of Rs. 47 billion and Gross Capital Investment across the world of about Rs. 32 billion. UFLEX offers finished packaging of a wide variety of products such as snack foods, candy and confectionery, sugar, rice & other cereals, beverages, tea & coffee, desert mixes, noodles, wheat flour, soaps and detergents, shampoos & conditioners, vegetable oil, spices, marinates & pastes, cheese & dairy products, frozen food, sea food, meat, anti-fog, pet food, pharmaceuticals, contraceptives, garden fertilizers and plant nutrients, motor oil and lubricants, automotive and engineering components etc...
 
Neeraj Atri, Mavcomm Consulting, +91 9811714871
[email protected]
 

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