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Uflex share price jumps 19% on strong Q4 earnings

Uflex share price jumps 19% on strong Q4 earnings

Uflex share price jumps 19% on strong Q4 earnings
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By CNBCTV18.com Jun 30, 2021 10:32:25 AM IST (Updated)

Packaging materials company Uflex posted an over two-fold jump in consolidated net profit at Rs 264.95 crore in Q4FY21 as compared to Rs 100.90 crore during the year-ago period.

Shares of Uflex rallied over 19 percent to hit a 52-week high of Rs 570.05 on the BSE on Wednesday after the company reported strong earnings for the March quarter.

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The packaging materials company posted an over two-fold jump in consolidated net profit at Rs 264.95 crore in Q4FY21 as compared to Rs 100.90 crore during the year-ago period.
Total income during the quarter rose 45.05 percent to Rs 2,571.77 crore from Rs 1,773 crore, YoY. Consolidated EBITDA jumped by 87 percent YoY to Rs 516.4 crore.
Total production volume rose by 33.7 percent YoY to 126,822 metric tonnes (MT) whereas total sales volume for the quarter clocked in at 136,429 MT, an increase of 43.5 percent YoY.
“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% vs 15.6% for the same quarter last fiscal,” said Rajesh Bhatia, Group CFO at UFlex.
The company also announced the doubling of its aseptic packaging capacity at its plant in Sanad, Gujarat with an investment of Rs 120 crore.
“In FY22, I expect higher volumes from our newly set-up capacities and shall strive to maintain EBITDA margins of 20 percent,” Bhatia said.
The company also declared a dividend of 25 percent or Rs 2.50 per equity share of Rs 10 each for the financial year ended March 31, 2021.
At 9:55 am, the shares of Uflex were trading 15.69 percent higher at Rs 552.35 apiece on the BSE.
 
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