Share of Uflex Limited rose 19 per cent to hit a fresh 52-week high of Rs 570.05 on BSE today after the company reported an over two-fold jump in consolidated net profit to Rs 264.95 crore for the quarter ended March 2021.
Profit in the year-ago period stood at Rs 100.90 crore.
Total Income grew 45.05 per cent to Rs 2,571.77 crore in the March-ended quarter against Rs 1,773 crore a year ago.
The stock opened 7 per cent higher at Rs 510.00 against the previous close of Rs 477.45. Market cap of the firm rose to Rs 3,971.63 crore on BSE.
It has gained 163.5 per cent in the last one year and risen 46 per cent since the beginning of this year. The share stands higher than 5 day, 10 day, 20 day, 50 day, 100 day, and 200 day moving averages.
For FY21, the consolidated net profit climbed 127 per cent to Rs 843.68 crore while revenue from operations grew 19.96 per cent to Rs 8,914.86 crore.
The company witnessed a rise in demand for packaging materials and ancillary businesses while also adding newer clients.
“Although the quarter witnessed a steep increase in raw materials prices coupled with availability issues, we managed to deliver a strong performance to wrap up the year. Our EBIDTA margins for Q4 FY20-21 improved to 20.1 per cent vs 15.6 per cent for the same quarter last fiscal,” said Rajesh Bhatia, CFO, Uflex Group.
“We will be doubling our capacity in aseptic packaging and commissioning more packaging films lines in FY22 in line with our earlier announced capacity expansion. Continuing with the expansion of our packaging film capacities, we commissioned a brownfield BOPP film line in Egypt with a capacity of 42,000 TPA. In FY22, I expect higher volumes from our newly set-up capacities and shall strive to maintain EBITDA margins of 20%,” he added.
The board of the company also recommended a dividend of 25 per cent, that is Rs 2.50 per equity share of Rs 10 each for the financial year ended March 31, 2021.
UFlex is India’s largest multinational flexible packaging materials and Solution Company and a global player in Polymer Sciences.
