UFlex Q2 revenues rose 19 percent while absolute EBITDA increased by 69 percent in the second quarter of fiscal 2021. This has resulted in margins of around 21 percent while driving a 136 percent increase in the company’s profitability.

Speaking to CNBC-TV18, Rajesh Bhatia, Group President (Finance & Accounts) & CFO of UFlex said that packaging growth has been strong due to demand in flexible packaging space.

Bhatia also informed that the film packaging facility Russia was now operational which led to additional volumes.

“The Russia facility came on stream and we announced the commercial production this quarter. So, there are additional volumes coming from that facility,” Bhatia said.

Bhatia believes that Hungary and Nigeria units will aid in achieving highest-ever volume.

“FY23 also – that will be the time when our new investments will be at the peak of the capacity utilization. So next 2 years in terms of volume growth we will be clearly seeing a path which we are quite sure of,” he said.

(Edited by : Ankit Gohel)