Uflex posted a steady set of Q3 earnings. Though there was an upside in revenue growth, the margins came in a tad bit lower than expectations due to increase in raw material costs.
Discussing the Q3 performance, Rajesh Bhatia, Global CFO of the company, said that the increase in raw material prices impacted margin in Q3.
On growth front, Bhatia said, “Q4 still looks to be better in terms of orderbook that we have.” “We have more than 40 customers which we are currently servicing and the season that begins from Q4 and going into Q2 of next year, we are seeing good growth in aseptic packaging business,” he added.
Talking about debt repayment, he said, “In Q3 of FY20 we are looking at repayments of about Rs 270 crore in India and about $20 million overseas.”