Not impacted by coronavirus at all, says Uflex

Packaging manufacturing company Uflex's chief financial officer Rajesh Bhatia on Wednesday said that the company is not impacted by coronavirus at all amid concerns that the outbreak is likely to hit Indian companies significantly.

"We are not impacted by coronavirus at all because none of our raw materials or none of our finished products is traded in those markets. There are very limited things that we get from China and that also in a small quantity and we have the options to shift to other Southeast Asian countries," said Bhatia in an interview with CNBC-TV18.

Talking about Q3, Bhatia said, “Q3 has been pretty good for us. So far there has been an EBITDA margin expansion. The profitability is up driven by the expansion of the margins and also the fact that there has been a notable 10-11 percent volume growth in the packaging business, which sounds well. It has been a very decent quarter for us and we hope to continue to build on the volumes as we go down the line."

In terms of Aseptic business, Bhatia said, “In this quarter, we are seeing almost 200 million packs orders being executed every month now, which translates into 70-75 percent capacity utilisation.”