Uflex Ltd(UFLEX)

NSE: UFLEXBSE: 500148

₹ 557.2-2.27%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 4,024 crWebsite: www.uflexltd.comUpdated: 24 Oct 2026

About

UFlex Ltd is India's largest flexible packaging conglomerate, operating eight complementary businesses - from packaging films and aseptic cartons to holography, chemicals, and machinery - across 21 manufacturing facilities in nine countries. The company serves 5,000+ customers in 150+ countries and is the only Indian company offering fully integrated flexible packaging solutions across the entire value chain from resins to machinery. Flexible Packaging Activities accounted for 97.0% of segment revenue in FY26.^[1][2]

Business segments

Flexible Packaging Activities (films, chips, packaging, aseptic, holography, chemicals) had revenue of Rs 15,036.16 Cr in FY26, 97.0% of segment revenue, up 3.1 percentage points over FY2018-FY2026.^[2]
Engineering Activities had revenue of Rs 530.27 Cr in FY26, 3.4% of segment revenue, down 2.7 percentage points over FY2018-FY2026; FY25 engineering revenue was Rs 512.44 Cr.^[2][3]

Products and brands

UFlex operates eight businesses: Packaging Films, Chemicals, Aseptic Packaging, Flexible Packaging, Holography, Engineering, Printing Cylinders, and PAM & PMD machinery.^[3]
Aseptic packaging is sold under the ASEPTO brand; recycled/PCR packaging films are sold under the Asclepius™ brand.^[3]
UFlex Chemicals holds Patent No. 406417 for a solvent-free pigmented adhesive and Patent No. 354903 for an epoxy ester resin curing process.^[3]
The Holography business achieved double-digit growth for the fourth consecutive year, sustaining a CAGR of approximately 16% as of FY25.^[3]

Manufacturing capacity and operations

Total installed global capacity is 13,13,510 MTPA across 21 facilities in nine countries and five continents as of FY25.^[3]
Packaging Films capacity by region (MTPA) as of FY25: India 1,64,160; Mexico 1,14,000; Egypt 75,000; Poland 78,000; UAE 45,000; Hungary 48,000; CIS 42,000; USA 40,000; Nigeria 30,000.^[3]
Film type capacities as of FY25: BOPET 4,01,800 MTPA globally; BOPP 1,50,200 MTPA; CPP 84,160 MTPA including a new 18,000 MTPA Mexico line.^[3]
Backward-integrated vPET chip capacity is 3,84,000 MTPA (Panipat, India and Egypt); rPET chip capacity is 43,020 MTPA; flexible packaging capacity is 1,00,000 MTPA, as of FY25.^[3]
Sanand, Gujarat aseptic packaging capacity expanded from 7 billion to 12 billion packs per annum during FY26 via brownfield debottlenecking.^[4]
UFlex is the only Indian company with USFDA approval for using recycled PET, PP, and PE in food-grade packaging applications.^[3]
A hybrid renewable power agreement at Dharwad is to meet 33% of the plant's electricity needs; the new Panipat plant uses biomass boilers (FY25).^[3]

Key operating numbers

Total consolidated sales volume was 173,471 MT in Q1 FY27 (+1.7% YoY): Packaging Films 136,186 MT (+4.9% YoY) and Packaging 37,285 MT (-8.4% YoY).^[5]
Packaging Films capacity utilisation was 85.4% in Q1 FY27, up from 79.3% in Q4 FY26.^[5]
Aseptic packaging utilisation was 73.1% in Q1 FY27; FY26 full-year volume was approximately 8.5 billion packs.^[5]
BOPP film prices rose ~25% and BOPET film prices ~30-35% from February 2026 levels to Q1 FY27, driven by West Asia supply disruptions.^[5]
Virgin PET chips third-party sales volume was 29,471 MT in Q1 FY27 (+31.4% QoQ); Egypt vPET plant utilisation reached 72.3% in Q4 FY26.^[5]
FY26 total sales volumes were 649,789 MT (+0.4% YoY); packaging films production was 492,779 MT in FY26 vs 514,758 MT in FY25.^[4]

Customers and distribution

UFlex serves 5,000+ customers across 150+ countries, including leading global Fortune 500 brands.^[3]
Aseptic packaging exports account for 35-40% of that division's revenue, serving over 200 clients in more than 50 countries.^[3]
International operations contributed 62% of consolidated revenue in Q1 FY27, up from 56% in Q1 FY26.^[5]
Americas sales volume grew 18% YoY to 31,724 MT in Q1 FY27; MEA volumes grew 14.9% YoY to 39,486 MT.^[5]

Expansion and capex

Egypt greenfield aseptic plant (12 billion packs/year) on schedule for commissioning in H1 FY27 with USD 15 Mn residual capex; ~2 billion packs expected in first year.^[5]
Mexico WPP bags facility (80 million units/year) was commissioned on July 31, 2026.^[5]
Noida Sector 155 rPET/rMLP recycling plant (39,600 MTPA) was commissioned on April 30, 2026; total project outlay was Rs 3,171 Mn.^[5]
Dharwad BOPP line (54,000 MTPA, ~Rs 750 Cr) is targeted for commissioning in FY28; Rs 6,369 Mn of Rs 7,154 Mn total capex remained to be incurred.^[4]
Step-down subsidiary FLEX FILMS AZB AFEZCO was incorporated in Azerbaijan to develop a BOPP film plant for Azerbaijani, CIS and European markets.^[3]
Residual capex across ongoing projects is approximately USD 80-100 Mn; 60-70% of future capex is directed toward value-added products.^[5]
Q1 FY27 capex was Rs 4,782 Mn; FY26 capex was Rs 20,425 Mn, with CWIP rising to Rs 21,692 Mn from Rs 7,117 Mn at the start of FY26.^[5]

Recent developments

On October 9, 2026, India Ratings and Research affirmed bank loan facilities at 'IND AA-/Stable/IND A1+' on a total facility size of Rs 38,004 Mn.^[6]

Market Cap

₹4,024 Cr

High / Low

₹723 / 333

Stock P/E

5.9

Price / Book

0.5

Book Value

₹1,125

EPS

₹43.9

No. of Shares

7.22 Cr

ROCE

6.9%

ROE

4.1%

OPM

7.7%

Debt / Equity

1.21

Sales

₹15,401 Cr

Net Profit

₹317 Cr

Promoter holding

44.6%

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Uflex Ltd(UFLEX)

About

Business segments

Products and brands

Manufacturing capacity and operations

Key operating numbers

Customers and distribution

Expansion and capex

Recent developments

Signal history

The analysis Screener can't give you

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Verdict

Company data

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