The shares of this flexible packaging products manufacturer gained up to 1.7 percent after the company commissioned its post-consumer recycling (PCR) Plant in Egypt having installed a capacity of 18000 MT per year.
With a market capitalization of Rs 3,519.59, the shares of Uflex Ltd. were trading at Rs 487.05 per share, increasing around 0.07 percent as compared to the previous closing price of Rs 486.70 apiece.
According to the company filing, Flex P. Films (Egypt) S.A.E., a step-down subsidiary of Uflex Ltd has commissioned its post-consumer recycling (PCR) Plant in Egypt which has an installed capacity of 18000 MT per year
Furthermore, with the establishment of the plant, the step-down subsidiary will recycle post-consumer PET bottles to recycled (rPET) PET flakes and pellets through the use of mechanical recycling technology, which includes sorting, washing, drying, and grinding of PET bottles to produce flakes or pellets for use in PET Film.
Looking into the company’s financial, Uflex Ltd’s revenue decreased by 10 percent from Rs 3,768 Crore in Q2FY23 to Rs 3,369 Crore in Q2FY24. During the same period, net profits decreased 67 percent from Rs 191 crore to Rs 63 crore.
Uflex Ltd has sixteen cutting-edge production infrastructures, a global presence in five continents and more than 150 countries, and a workforce of over 10,000 people worldwide.
The firm has more than 20 years of expertise in developing circularity in plastics. Recycled MLP 0.5 million tons so far; invested USD 20 million or more in Poland and Mexico in FY23.
During the year, the Company opened a BOPET film factory and a CPP film plant in Dharwad, Karnataka, with capacities of 45,000 MT and 18,000 MT, respectively, as well as a CPP film plant in Dubai with a capacity of 18,000 MT.
Uflex Ltd is a renowned Indian multinational corporation that manufactures and sells flexible packaging goods and provides a comprehensive flexible packaging solution to its clients worldwide.
Written by:- Abhishek Singh
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