Uflex Surges To Record High After Profit Nearly Triples In March Quarter

Shares of the Delhi-based flexible packaging company - Uflex Limited - rose as much as 19.4 per cent to hit record high of Rs 570.05 on the BSE a day after its net profit in January-March period rose 162 per cent or 2.65 times to Rs 265 crore compared with Rs 101 crore in the same period last year. Its revenue from operations advanced 46 per cent to Rs 2,564.17 crore as against Rs 1,761 crore in the corresponding period a year ago.

Uflex's consolidated EBITDA (earnings, before interest, tax, depreciation and amortization) or operating profit jumped by 87 per cent year-on-year to Rs 516.4 crore.

"With packaging taking the center stage in pandemic affected last year, Uflex rose above the challenges to post exemplary performance in FY2020-21. The company witnessed a rise in demand for packaging materials and ancillary businesses while also adding newer clients," Uflex said in a press release.

During the quarter its production jumped 33.7 per cent, annually in March quarter, to 1,26,822 metric tonnes (MT) whereas total sales volume for the quarter came in at 1,36,429 metric tonnes, an increase of 43.5 per cent YoY.

For the full year 2020-21, total production volume stood at 4,63,065 million tonnes and total sales volume was 4,62,418 metric tonnes, growth of 21 per cent and per cent 21.5 per cent respectively on an annual basis.

So far this year, Uflex shares have surged 51 per cent, massively outperforming the Sensex which has advanced 10 per cent.

As of 12:08 pm, Uflex shares traded 16 per cent higher at Rs 555, outperforming the Sensex which was up 0.53 per cent.