Q4 2024 Uflex Ltd Earnings Call Transcript
Key Points
- Uflex Ltd (BOM:500148) reported an 8% volume growth across all business segments.
- Revenue for Q4 FY24 grew by 4.5% quarter-on-quarter and 3% year-on-year, reaching approximately INR3,497 crore.
- The company saw a 6.9% improvement in profitability quarter-on-quarter and 6.3% year-on-year.
- Uflex Ltd (BOM:500148) successfully launched a new high-capacity machine for aseptic packaging, increasing capacity from 10,000 to 25,000 packs per hour.
- The company achieved significant volume increases in North America and Mexico, with Poland and Hungary also showing strong production growth.
- The domestic packaging film market remains subdued due to overcapacity, leading to price erosion and margin pressure.
- Currency devaluation in Nigeria and Egypt resulted in a significant financial impact, with a devaluation impact of INR177 crore in Q4 FY24.
- The company faces ongoing challenges with currency fluctuations, particularly in Nigeria, which saw a 183% devaluation over FY24.
- Uflex Ltd (BOM:500148) has a net debt of INR5,569 crore as of March 31, 2024, with expectations to increase to around INR6,000 crore.
- The company is experiencing capacity constraints in its aseptic packaging division, impacting its ability to meet demand fully.
Ladies and gentlemen, good day, and welcome to the UFlex Limited Q4 FY24 results conference call hosted by Dolat Capital. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Sachin Bobade from Dolat Capital. Thank you, and over to you, sir.
Thank you, Muskan. Good evening, everyone. On behalf of Dolat Capital, I welcome you all to the Q4 FY24 earnings conference call of UFlex Limited. Hope you all and your family members of staying safe and healthy. From the management side, we have with us Mr. Rajesh Bhatia, Group President of Finance and Accounts and Chief Financial Officer; and Mr. Surajit Pal, Vice President, Investor Relations. Now I hand the floor to the management for their opening remarks, and then we would have question-and-answer session. Over to you, sir.
Thank you, Sachin. Good afternoon, ladies and gentlemen. Thank you for joining us
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