Slide 1: Exchange cover letter on investor meet
UFLEX/SEC/2024/ March 1, 2024 The National Stock Exchange of India The BSE Limited Limited Corporate Relationships Exchange Plaza, 5th Floor Department Plot No.C/l, G-Block 1st Floor, New Trading Ring, Bandra-Kurla Complex Rotunda Building, P J Towers, Bandra (E), Dalal Street, Fort, Mumbai – 400051
Slide 2: Earnings Presentation Q3FY24 & 9MFY24
March 01, 2024 Earnings Presentation Q3FY24 & 9MFY24 Stock Code: BSE – 500148, NSE- UFLEX Common Stock Outstanding: 72mn as of Dec 29, 2023
Slide 3: Disclaimer
Disclaimer No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the d
Slide 4: Table of Content
Agenda Key Highlights 04 Business at a Glance 16 Table of Financial Summary 30 Content Sustainability 34 Management & Shareholders Information 38
Slide 5: Key Highlights
Key Highlights » Chairman’s Message » Industry Trends » Performance Snapshot » Performance Highlights » Product Innovation » Manufacturing Facilities » Capex Update » Standalone and Consolidated P&L Summary » Debt Profile
Slide 6: Chairman's Message
Chairman’s Message Mr. Ashok Chaturvedi, Chairman and Managing Director, “Q3 witnessed an improvement in the sales volumes on year-on- year basis both for Packaging Films and Packaging businesses. The consolidated adjusted EBITDA (excluding loss on account of currency devaluation and derivatives) st
Slide 7: Industry Trends
Industry Trends Domestic International ➢ Red Sea conflict has disrupted the flow of goods and global supply chains ➢ Ongoing oversupply and pricing pressure in the ➢ Americas- Healthy traction in consumer spending packaging films industry ➢ Europe - weak economic conditions, tighter monetary ➢ Lower
Slide 8: Performance Snapshot
Performance Snapshot Q3FY24 9MFY24 Q3FY24 9MFY24 Revenue Capex Rs. 3,345 Cr. Rs. 10,013 Cr. Rs. 425 Cr. Rs. 1,004 Cr. (-1.3% QoQ, -4.3% YoY) (-12.1% YoY) (+34.8% QoQ, +13.5% YoY) (58.5% YoY) EBITDA Rs. 368 Cr. Rs. 1,077 Cr. (-9.5% QoQ, +32.5% YoY) (-28.0% YoY) Net Debt Rs. 5,228 Cr. Rs. 5,228 Cr. +1
Slide 9: Q3FY24 - Performance Highlights
Q3FY24 - Performance Highlights Revenue was Rs. 3,345 Cr. (-1.3% QoQ and -4.3% YoY) in Q3FY24. Revenue was partly impacted due to pricing pressure in the packaging industry though sales volume continued to improve. Liquid packaging business sales grew by +12.7% YoY. Adjusted EBITDA was Rs. 426 Cr. (
Slide 10: Business Highlights
Business Highlights Holography: Developed HSF in lower Gauge/ thickness- Textile Grade/Graphic grade & Cold foil and Holographic Alu-Alu foil for pharma Engineering: Developed Double head Coating-1650 machine to enhance to enhance the film barrier property that can do processes as Direct Gravure Coa
Slide 11: Product Innovation
Product Innovation HSF in lower Gauge/ thickness- Textile Grade/Graphic grade & Cold foil ❖ Works great for precise applications and defined patterns in small areas ❖ Saves energy consumption during application and helps users to have more productivity ❖ Fine definition application and versatility o
Slide 12: Global manufacturing footprints
Global manufacturing footprints 16 Strategically located state-of-art manufacturing facilities across 5 continents and 9 countries Global Capacity of ~780,000 MTPA: deliver anywhere in the World within 15 Days Americas Capacity % Utilization India Plant (MTPA) (Q3FY24) Capacity % Utilization US 30,0
Slide 13: Capex Update
Capex Update Backward Integration Projects PET Chips Plant, Panipat Asepto Packaging Debottlenecking, Sanand, Gujarat ➢ Setting up of a poly condensation ➢ Increase in production capacity from 7bn packs plant through CP and SSP process per annum to 12bn packs per annum to produce polyester chips ➢ F
Slide 14: Standalone P&L Summary
Standalone P&L Summary Particulars (Rs. Cr.) Q3 FY24 Q2 FY24 Q3 FY23 QoQ YoY 9M FY24 9M FY23 YoY Revenue 1,659 1,651 1,713 +0.5% -3.3% 4,981 5,130 -2.9% EBITDA 171 168 171 +2.0% +0.2% 545 530 +2.9% EBITDA Margin (%) 10.3% 10.2% 10.0% +15bps +35bps 10.9% 10.3% +62bps Depreciation and Amortisation 75
Slide 15: Consolidated P&L Summary
Consolidated P&L Summary Particulars (Rs. Cr.) Q3 FY24 Q2 FY24 Q3 FY23 QoQ YoY 9M FY24 9M FY23 YoY Revenue 3,345 3,389 3,496 -1.3% -4.3% 10,013 11,391 -12.1% EBITDA 368 406 277 -9.5% +32.5% 1,077 1,496 -28.0% EBITDA Margin (%) 11.0% 12.0% 7.9% -99bps +305bps 10.8% 13.1% -237bps Depreciation and Amor
Slide 16: Debt Profile
Debt Profile Debt Breakdown Split of Long-Term Debt Particulars (Rs. Cr) Dec-2023 Sep-2023 Jun-2023 Mar-2023 Long Term 4,910 4,789 4,764 4,270 Overseas 50.5% Working Capital 1,455 1,270 1,122 1,105 Domestic 49.5% Short Term 216 159 143 119 Total Debt 6,581 6,218 6,029 5,494 Net Debt 5,228 4,759 4,44
Slide 17: Business at a Glance
Business at a Glance » About the company » Journey » Products
Slide 18: About the Company
About the Company 10,000 + 16 ~2 State-of-the-art Global Presence Global in 5 continents and Awards Won Manufacturing Workforce 150+ countries in the quarter Infrastructure Founded in 1985 ~780,000 MTPA Global Value Added Capacity Products 38% 30+ years of Films 62% Ability to deliver anywhere in th
Slide 19: Journey so far
Journey so far Doubling of Added BOPET Aseptic Company went Film Line Packaging public (IPO) Expanded a Added in Russia and capacity in Added Flexible Added 1st BOPP Added into Added PET BOPET & CPP BOPET Film line expanded in Sanand, Gujarat Target Films Packaging Films line in Holography Film Capa
Slide 20: Long lasting customer relationship
Long lasting customer relationship Length of customer relationships Nestle P&G Pepsi Co Mondelez Bemis Amcor Huhtamaki UPM Dupont Teijin Kolak Snacks Truda Foods American Pkg Raflatac* films 8+ 8+ 8+ 5+ 7+ 10+ 8+ 9+ 6+ 9+ 8+ 9+ The total contribution of top customers in overall operational revenue (
Slide 21: Presence across all verticals of packaging value chain
Presence across all verticals of packaging value chain Packaging Film Business Flexible Packaging Business Aseptic Packaging Business Rotogravure Design PP Granules Holograms Converting Packaging Metalized films Cylinders & Poly Granules & Shims Machines Machines Shims PPC PET Packaging Pouches Prin
Slide 22: One stop shop for flexible packaging solutions
One stop shop for flexible packaging solutions Packaging films - BOPP films | BOPET films | CPP films | Metallized films | Alox coated films | Asclepius PCR films | Specialty films | Polyester Chips Flexible packaging - Flexible Packaging Laminates | Pre-fabricated Pouches | FlexiTubes | Pharmaceuti
Slide 23: Product Portfolio
Product Portfolio Packaging Films Flexible Packaging Holography business Aseptic Liquid Packaging Printing Cylinders Packaging Rolls Engineering Chemicals (Ink & Adhesive) 22
Slide 24: Financial Summary
Financial Summary » Key Standalone Financial Performance » Key Consolidated Financial Performance » Consolidated Financial Overview
Slide 25: Key Standalone Financial Performance
Key Standalone Financial Performance Sales (Vol’s MT) Revenue (Rs Cr) EBITDA (Rs Cr) 15% 16% 12% 11% 10% 11% 231,757 209,693 194,802 181,783 176,846 159,593 5,130 6,817 4,981 5,721 4,655 766 762 4,152 680 616 545 530 FY20 FY21 FY22 FY23 9MFY23 9MFY24 FY20 FY21 FY22 FY23 9MFY23 9MFY24 FY20 FY21 FY22
Slide 26: Key Consolidated Financial Performance
Key Consolidated Financial Performance Sales (Vol’s MT) Revenue (Rs Cr) EBITDA (Rs Cr) 599,259 14.9% 20.5% 17.2% 14.0% 13.1% 10.8% 587,118 11,391 10,013 14,784 13,237 466,390 444,404 441,769 2,280 380,744 2,068 1,077 1,827 1,496 8,915 7,432 1,109 FY20 FY21 FY22 FY23 9MFY23 9MFY24 FY20 FY21 FY22 FY23
Slide 27: Consolidated Financial Overview
Consolidated Financial Overview Key Financials Ratios FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 EBITDA Margin 12% 12% 13% 13% 13% 13% 15% 20% 17% 14% PAT Margin 3% 4% 5% 5% 5% 4% 5% 9% 8% 3% Net Debt to Equity 0.78 0.65 0.52 0.51 0.47 0.44 0.69 0.62 0.60 0.59 Net Debt to EBIDTA 3.08 2.69 2.1
Slide 28: Sustainability
Sustainability » Pioneer in building circularity in multi-layered plastics » Sustainability at UFlex » Sustainability Initiatives Towards Green Packaging
Slide 29: Pioneer in building circularity in multi-layered plastics
Pioneer in building circularity in multi-layered plastics 20+ years of experience in building circularity in plastics One of the First in the World to Recycle Mixed Plastic Waste Recycled MLP 0.5mn+ tons so far Invested $20mn+ in FY23 at the Poland and Mexico Plants Recycling Machine Initiatives Tak
Slide 30: Sustainability at UFLEX
Sustainability at UFLEX The Ultimate Destination Sustainability Initiatives towards Green Packaging ▪ First company in the world to recycle mix plastic waste ▪ Ensuring 100% Recyclability of Multi-Layer Packaging with RELAM 250 recycling machine that enables recycling of multi-layer packaging and re
Slide 31: Sustainability Initiatives Towards Green Packaging
Sustainability Initiatives Towards Green Packaging Sustainability at UFLEX Converting Waste Plastic into Fuel with Pyrolysis Plant Asclepius Green Packaging Film to Create a Circular ▪ Commissioned Pyrolysis Plant, at Noida facility in October 2018 Economy ▪ Can convert 6 tonnes of discarded waste m
Slide 32: Management & Shareholders Information
Management & Shareholders Information » UFlex Group Structure » Management Team » Shareholding Pattern » Auditors Information
Slide 33: Management Team
Management Team Professional Management with an average experience of > 25 years in Business, Corporate, Project & Operational excellence 41 35 Jeevaraj Gopal Pillai, Whole Time Director, Director - Sustainability, Ashok Chaturvedi, Chairman & Managing Director President - Flexible Packaging and New
Slide 34: Management Team
Management Team Professional Management with an average experience of > 25 years in Business, Corporate, Project & Operational excellence 30 28 Chandan Chattaraj, President, Human Resources (India and Global) Amit Shah, Joint President and Chief Marketing Officer, Flexible • Three decades of experie
Slide 35: Shareholding Pattern – December 2023
Shareholding Pattern – December 2023 Shareholding Historical Shareholding Pattern ( in %) Categories Dec ‘22 Mar ’23 June ’23 Sep ’23 Dec’23 Promoter Group 44.58 44.58 44.58 44.58 44.58 Others 25.31% FIIs and FPIs 15.91 14.83 14.68 14.08 14.6 Promoter MF and AIF Group 0.20% 44.58% CBO, Insurance and
Slide 36: Auditors Information
Auditors Information Locations Auditors India MSKA & Associates (BDO) & Vijay Sehgal & Co. Dubai Shah & Al-shamali Associates Egypt MSKA & Associates (BDO) Poland Ernst & Young (EY) USA Crowe LLP Mexico GS&A Hungary Leitner Leitner Nigeria PKF Accountants & business advisers Russia MSKA & Associates
Slide 37: UFlex Limited
UFlex Limited Address: A – 107 - 108, Sector - IV,Noida - 201301 (U.P.), India. Phone No : +91 120 4012345 (30 Lines) | Fax No.: +91 120 2556040 Corporate ID :L74899DL1988PLC032166 Website: www.uflexltd.com IR Contact Mr. Surajit Pal Mr. Manoj Pandey Email: investorrelations@uflexltd.com