UFLEX Limited has informed the Exchange about Transcript
UFLEX · price
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UFLEX reported Q1 FY26 revenue of Rs. 3,922 crore, up 6.5% YoY, driven by 7.9% volume growth, with packaging films up 6.8% and packaging overall up 11.7%. EBITDA margin slipped to 12% from 12.7% a year ago, partly hurt by US tariff uncertainties and customers pre-stocking inventory. Management highlighted a major industry event: a fire at a large competitor's (Jindal) plant in late May has tightened BOPET/BOPP supply in India, giving better pricing power that should reflect in coming quarters. Aseptic (Asepto) volumes grew 18% YoY, though full-year guidance was cut to 8.5–9 billion packs (from 10 billion) due to commissioning delays. The company has spent Rs. 1,100 crore of its Rs. 2,000 crore capex plan, with Aseptic Egypt, WPP bags, and Noida recycling plant expected in FY27, which management says could add Rs. 3,000 crore revenue and Rs. 600 crore EBITDA. Net debt/EBITDA at ~3.9 may rise to a peak of 4.1 before falling back under 3 as new projects ramp up.
Short-term, margins are under pressure from tariffs and one-off factors, but the Jindal plant accident and Mexico's USMCA duty-free export window create a clear margin tailwind for the next few quarters. New capex should boost FY27 revenue and earnings meaningfully, while the debt deleveraging path back under 3x is supportive. Shareholders can expect near-term volatility but a structurally stronger FY27.