Slide 1: Exchange filing cover letter
UFLEX/SEC/2026/ June 1, 2026 The National Stock Exchange of India Limited The BSE Limited Exchange Plaza, 5th Floor Corporate Relationships Plot No.C/l, G-Block Department Bandra-Kurla Complex 1st Floor, New Trading Ring, Bandra (E), Rotunda Building, P J Towers, Mumbai – 400051 Dalal Street, Fort,
Slide 2: UFLEX Limited Earnings Presentation
UFLEX LIMITED Earnings Presentation June 01, 2026 Stock Code: BSE – 500148, NSE – UFLEX Noida, India Common Stock Outstanding: 72.2mn as of Mar 31, 2026
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: Key Highlights
➢ Chairman’s Message ➢ Industry Trends ➢ Performance Snapshot ➢ Performance and Business Highlights Key ➢ Capex Update Highlights ➢ Packaging Films Production volume ➢ Financial Summary ➢ Sustainability & circularity ➢ Product Innovation ➢ Business at a Glance ➢ Management & Shareholders
Slide 5: Chairman's Message
Chairman’s Message Mr. Ashok Chaturvedi, Chairman and Managing Director, UFlex Group, said, “FY26 was a challenging year for the packaging industry, marked by geopolitical tensions and tariff-related uncertainties. Amid these headwinds, UFlex remained steadfast and delivered a strong operational and
Slide 6: Industry Trends
Industry Trends Domestic International ➢ India FMCG industry volume growth moderated to 0.9% in Q4 FY26, reflecting softer consumer demand and a challenging consumption ➢ In the Americas, demand grew strongly, supported by post-U.S. environment. government shutdown normalization, improving CPG food
Slide 7: Consolidated Performance Snapshot – Q4 and FY26
Consolidated Performance Snapshot – Q4 and FY26 Q4FY26 FY26 Q4FY26 FY26 Revenue Capex Rs. 40,973 Mn. Rs. 155,130 Mn. (+12.8% QoQ, +5.7%YoY) (+2.1.% YoY) Rs. 7,070 Mn Rs. 20,425 Mn Domestic: 43% Domestic: 44% International: 57% International: 56% Net Debt Norm. EBITDA* Rs. 6,109 Mn. Rs. 19,097 Mn. Rs
Slide 8: Consolidated Performance Highlights – Q4 & FY26
Consolidated Performance Highlights – Q4 & FY26 Revenue grew to Rs. 40,973 million (+12.8% QoQ, +5.7% YoY) in Q4 FY26, supported by strong volume growth sequentially and higher realizations across the PET chips, packaging films, laminates, and holography businesses. FY26 revenue grew by 2.1% YoY to
Slide 9: Capex Update
Capex Update ➢ Incurred total capex of Rs 7,070 million during the quarter, with major allocation to following four projects: Capex in Q4 FY26 a) Egypt: Rs. 1,009 million for the Aseptic packaging facility, b) Mexico: Rs. 480 million for the WPP bag manufacturing unit, c) Noida sector- 155, India: R
Slide 10: Packaging Films Production Volume across Geographies
Packaging Films Production Volume across Geographies Geographic % contribution to total Capacity, Production and Utilization Production volume change packaging film production vol. Q4 FY26 India Dubai Egypt Nigeria CIS Poland Hungary USA Mexico 13% 22% 6% QoQ YoY Capacity Q4 FY26 Production (Utiliza
Slide 11: Packaging Films Production Volume across Geographies
Packaging Films Production Volume across Geographies Films Production Capacity (MTPA) Geographic Breakdown of Total Capacity, Production and Utilization as of March 31 Packaging film Production vol. (%) India Dubai Egypt Nigeria CIS Poland Hungary USA Mexico FY22 FY23 FY24 FY25 FY26 FY26 FY26 Produc
Slide 12: Packaging and Chemicals Production Volume
Packaging and Chemicals Production Volume % Contribution of production vol. by Capacity, Production and Utilization Production volume change packaging products & chemicals Liquid packaging Flexible packaging Chemicals (Inks & Adhesives) Q4 FY26 19% 38% 46,569 MTPQ Capacity Q4 FY26 Production (Utiliz
Slide 13: Global Manufacturing Footprints
Global Manufacturing Footprints 17 State-of-the-Art Manufacturing Facilities Strategically Located across 5 Continents and 9 Countries Overall Global Capacity of 1.3 mn+ MTPA: Ready to deliver Anywhere in the World within 15 Days Americas India Plant Capacity (MTPA) Capacity Plant US 30,000 (MTPA) M
Slide 14: Integrated Manufacturing Capacities Across Geographies
Integrated 1 Manufacturing Capacities Across Geographies Extensive Suite of Products in Every Region We Operate Resins & Moulding Base Packaging Films Value Added Packaging Films Value Added Products (VAP) Locations 4,58,317 MTPA 6,36,160 MTPA 2,66,000 MTPA (Capacities Ultra Chemicals Aseptic Data a
Slide 15: Evolving End-Use Landscape of Packaging and Packaging Films
Evolving End-Use Landscape of Packaging and Packaging Films 01 02 03 STEADY FMCG SUSTAINABLE ECONOMIC DEMAND PACKAGING GROWTH Food-Grade recycled FMCG growth plastic usage shortfall increasingly driven by Steady economic allowed 3-Year Urban India. Rural growth amidst global carryforward alongside c
Slide 16: Macro Economic Environment
Macro Economic Environment Global Economy Steady amid Divergent Forces India to Maintain Robust 7.6% Growth in FY26F Real GDP Growth (YoY %) 7.7 Real GDP Growth (YoY %) 3.7 2.1 2.4 7.6 7.6 1.4 6.5 7.2 7.1 1.4 1.1 1.2 3.4 3.1 3.2 1.9 1.8 1.7 2.1 2.3 2.1 5.0 4.4 4.0 World Advanced US Euro Area China E
Slide 17: Interplay of Inflation, Non-Durables, and FMCG in Packaging
Interplay of Inflation, Non-Durables, and FMCG in Packaging FMCG Sales volume growth moderated Volume: Rural continue to surpass Urban Growth Rainfall Status: +108% LPA (1st Jan ’26 – 25th Feb ’26) FMCG growth % FMCG volume growth % in Rural & Urban 13.8% 8.3% 8.4% 13.1% 7.7% 10.8% 7.8% 4.1% 3.9% 6.
Slide 18: Pricing Trends of Packaging Films and Related Commodities
Jan-23 99.0 135.1 Feb-23 99.5 145.4 Mar-23 97.8 128.5 Apr-23 100.6 116.0 May-23 108.3 126.2 Jun-23 100.8 122.9 Jul-23 101.2 122.1 Aug-23 102.6 129.8 Sep-23 99.4 127.4 Oct-23 96.0 112.0 Nov-23 92.5 110.0 Dec-23 92.9 106.0 Jan-24 94.2 109.5 Feb-24 92.3 113.0 Mar-24 94.0 119.2 Apr-24 93.6 122.1 May-24
Slide 19: Financial Summary
➢ Key Standalone Financial Performance Financial ➢ Key Consolidated Financial Performance Summary ➢ Consolidated Financial Overview
Slide 20: Standalone P&L Summary
Standalone P&L Summary Particulars (Rs. Mn.) Q4 FY26 Q3 FY26 Q4 FY25 QoQ % YoY % FY26 FY25 YoY % Revenue 19,896 18,313 20,117 8.6 (1.1) 78,543 78,096 0.6 Expenditure 16,986 16,300 17,752 4.2 (4.3) 69,183 68,809 0.5 EBITDA 2,910 2,014 2,365 44.5 23.1 9,360 9,287 0.8 EBITDA Margin (%) 14.6% 11.0% 11.8
Slide 21: Standalone Spotlight on Key Financials over the Years
Standalone Spotlight on Key Financials over the Years Sales (Vol. MT) Revenue (Rs. Mn) EBITDA (Rs. Mn) and Margin * 16.5% 11.9% 11.2% 11.6% 11.9% 11.9% 78,096 351,282 266,152 78,543 9,360 68,170 231,757 66,516 258,220 9,287 57,206 209,693 194,802 7,701 7,660 7,618 46,554 6,797 FY21 FY22 FY23 FY24 FY
Slide 22: Consolidated P&L Summary
Consolidated P&L Summary Particulars (Rs. Mn.) Q4 FY26 Q3 FY26 Q4 FY25 QoQ % YoY % FY26 FY25 YoY % Total Revenue 40,973 36,329 38,767 12.8 5.7 155,130 151,993 2.1 Expenditure 34,708 31,733 34,012 9.4 2.0 135,294 133,649 1.2 Normalized EBITDA 6,109 4,395 4,811 39.0 27.0 19,097 19,179 (0.4) Normalized
Slide 23: Consolidated Balance Sheet as of March 31, 2026
Consolidated Balance Sheet as of March 31, 2026 As on 31st As on 31st As on 31st As on 31st Particulars (Rs. Mn) Particulars (Rs. Mn) Mar 2026 Mar 2025 Mar 2026 Mar 2025 Assets Equity and Liabilities Non-current assets Equity Property, plant and equipment 89,379 81,664 Equity Share Capital 722 722 C
Slide 24: Consolidated Spotlight on Key Financials over the Years
Consolidated Spotlight on Key Financials over the Years Sales (Vol. MT) Revenue (Rs. Mn) Norm. EBITDA (Rs. Mn) and Margin (%) Packaging Films Packaging Domestic International Films - Domestic Films - International 20.5% 17.1% 14.0% 11.9% 12.6% 12.3% 463,620 599,259 587,118 599,616 647,499 649,789 14
Slide 25: Consolidated Revenue Split
Consolidated Revenue Split Q4FY26: Business-wise rev. split as a % of total rev. Q4FY25: Business-wise rev. split as a % of total rev. Packaging, Packaging, 36.1% 30.8% Packaging Packaging Rs. 40,559 films, 58.8% Rs. 38,143 films, 55.3% Million Million 99.0% Engineering, 98.5% Engineering, 3.3% 3.5%
Slide 26: Consolidated Revenue Split
Consolidated Revenue Split FY26: Business-wise rev. split as a % of total rev. FY25: Business-wise rev. split as a % of total rev. Packaging, 32.7% Packaging, Packaging 28.3% Packaging films, 62.3% Rs. 150,361 Rs. 154,005 films, 58.6% Million Million Engineering, Engineering, 99.3% 98.9% 2.9% 2.7% O
Slide 27: Consolidated Debt Profile
Consolidated Debt Profile Debt breakdown Split of gross debt as of Mar. 26 Particulars (Rs. Mar- Dec- Sep- Jun- Mar- Overseas: WC & ST, India: TL, 29895, Mn) 2026 2025 2025 2025 2025 13050, 13% 31% Long Term 73,556 69,986 67,835 63,879 59,937 Working Capital and 24,970 24,561 23,061 22,027 21,223 Gr
Slide 28: Consolidated Financial Overview (1/2)
Consolidated Financial Overview (1/2) Key Financials Ratios FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 EBITDA Margin 12.2% 12.1% 13.2% 13.8% 13.2% 12.6% 14.9% 20.5% 17.2% 12.7% 11.2% 12.1% 12.8% Normalized EBITDA 12.2% 12.4% 14.5% 14.2% 13.1% 12.7% 14.7% 20.0% 17.1% 14.0% 11.9%
Slide 29: Consolidated Financial Overview (2/2)
Consolidated Financial Overview (2/2) Key Financials FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 Ratios Net Debt to Equity 0.75 0.63 0.49 0.48 0.43 0.42 0.67 0.60 0.59 0.58 0.77 0.93 1.06 Net Debt to EBIDTA 2.97 2.58 1.99 1.95 1.91 1.79 2.83 1.82 1.72 2.34 3.68 3.73 4.35 Net Deb
Slide 30: Project Plastic Fix: Paving the Way to a Circular, Greener Future
At UFlex, Circular Economy Innovations such as Packaging film: “ASCLEPIUS ”, Made of 100% rPET Chips and Injection Molding Items made from rMLP Granules, are Paving the Way for a More Sustainable and Greener Tomorrow. ➢ Vision of Circularity Project Plastic Fix: Paving ➢ ‘Project Plastic Fix’ Contin
Slide 31: Circularity
Circular Vision of UFlex Extended Producer Responsibility (EPR) for Packaging Mechanism Collect Recycle/ Reuse Biodegrade Problem Solution Sustainable Space High C B Govt. Govt. EPR - Guidelines Circularity UFlex Project Plastic Fix Industry Compliance to EPR A Consumer Responsible Disposal Low High
Slide 32: Extended Producer Responsibility Guidelines in India
Extended Producer Responsibility Guidelines in India Under Plastic Waste Management (Amendment) Rules, 2022, the Classification of Plastics is Defined Below: • Category I: Rigid Plastic Packaging. • Category II: Flexible Plastic Packaging of a Single Layer/Multilayer (more than one layer with differ
Slide 33: Project Plastic Fix Continues to Turn Waste into Wealth
Sustainability: 'Project Plastic Fix’ Continues to Turn Waste into Wealth 586 mn PCR PET Bottles Recycled in FY26 10,237 MT of PCR MLP waste recycled in FY26 100+ Product Variants, 6 Facilities Operational Since 1995 Marching Towards a Greener and Sustainable Tomorrow PCR PET Bottle & MLP ASCLEPIUS
Slide 34: Recycling Plants Across Geographies
Recycling Plants Across Geographies Global India Mexico Noida* Particulars Capacity(MTPA) Particulars Capacity(MTPA) PCR PET Chips PCR PET Chips (US FDA approved for food-contact 15,000 (US FDA & FSSAI approved for 46,020 applications) food-contact applications) rMLP Granules 6,000 rMLP Granules 13,
Slide 35: Product Innovation – Chemicals (Inks & Adhesives)
Product Innovation – Chemicals (Inks & Adhesives) Development of TMPTA (Tri methylol Tri FLEXCURE SCREEN GLOW-IN-DARK CI FLEXTONE PE EXTRUSION INK FLEXGREEN LMLO Gloss Coating (NY) acrylate) monomer for UV, LED and EB (GID) INKS inks and Coatings UV-LED curable low migration and low odour High-perfo
Slide 36: Product Innovation – Engineering
Product Innovation – Engineering Next Generation of High Speed HFFS Next-generation packaging machine designed for consumer packaged goods in food and home/personal care segments. Combines high line speed with a compact footprint and offers flexibility across laminate processing applications. Key Fe
Slide 37: Product Innovation – Packaging Films
Product Innovation – Packaging Films F-TPM F-PPP Sealable Peelable Metallised Polyester Film Easy Peel Polyester Film Metallised coated polyester film with antifog Easy-peel polyester film with water-based properties and functional sealing layer, coating offering a sustainable alternative to designe
Slide 38: Product Innovation – Packaging
Product Innovation – Packaging Special grade PE for thermoforming film APET-Based Dip Cup Laminate with Barrier with good transparency for syringe Film and Special Peelable Lid Specialized thermoforming PE film developed Barrier laminate solution designed to provide F-PPP for medical packaging appli
Slide 39: Product Innovation – Holography
Product Innovation – Holography Upgrade & Renovation Dual Registered Hologram Dual Registered Hologram Advanced Security Coupon Solution Industry-first holographic technology featuring a unique dual Advanced filmic-based security coupon integrated with registered stamping process, designed to enhanc
Slide 40: Product Innovation – Printing Cylinder (Laser Engraving Machine)
Product Innovation – Printing Cylinder (Laser Engraving Machine) Woven Starburst Pattern on Aluminum Composite Gikgo Leaves Pattern on Golden Python Glaze Laser Embossing Effect original leather Panels original leather Pattern on original leather ▪ Elegant and sophisticated ▪ The design features a t
Slide 41: Business at a Glance
➢ An overview Business ➢ Journey so far at a Glance ➢ Customer relationship ➢ One stop shop for packaging solutions
Slide 42: An Overview
An Overview Rich Legacy of 40 Years in Providing Packaging Solutions to our Partners 1985 17 Established Manufacturing Units 5000+ 1,351,910 MTPA1 Customer Base Global Capacity* Presence Across 150+ 10,000+ Workforce Countries 12bn 113,917 MTPA 5.4 bn+ 69,730 MTPA 300 mn+ 1,090 mn+ PCR PET2 Bottles
Slide 43: Journey so far: Growing as a Global Player in Flexible Packaging
Journey so far: Growing as a Global Player in Flexible Packaging • Dharwad (India): Started with a CPP/ a BOPET Lines. • Aseptic Packaging: • Dubai: Added a CPP Line Annual Capacity Doubled 2022 2023 • Mexico: Added a PCR PET • Diversified into to 7 Bn Packs Chips Line Holography Business • Egypt :
Slide 44: Enduring Customer Relationship
Enduring Customer Relationship Length of Customer Relationships Kolak Truda UPM American Dupont Nestle Snacks Foods P&G Pepsi Co Mondelez Bemis Amcor Huhtamaki Raflatac* Pkg Teijin films 8+ 8+ 8+ 5+ 7+ 10+ 8+ 9+ 6+ 9+ 8+ 9+ Our clients *Note: UPM is pioneer customer of 100% PCR Asclepius Films; All
Slide 45: Presence across all Verticals of Packaging Value Chain
Presence across all Verticals of Packaging Value Chain Process Flow Diagram UFlex Presence Main Feedstock Key Downstream RM RM for P. Films Packaging Flexible Packaging Business Aseptic Films Business Packaging Ethylene MEG1 Business NGL Ink & Flexi-tubes, BOPP8 Ethane, vPET Chips Adhesives Lids and
Slide 46: Presence across all Verticals of Packaging Value Chain
Presence across all Verticals of Packaging Value Chain Interconnected Strengths, Boundless Possibilities Resins Packaging Films Intermediaries Flexible Packaging vPET Chips Film Grade Chemicals (inks and adhesives) BOPET P . Films BOPP P. Films vPET Chips Bottle Grade Holography CPP P. Films Value A
Slide 47: Management & Shareholders Information
➢ Management Team Management & ➢ Shareholding Pattern Shareholders Information ➢ Auditors Information
Slide 48: 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, President - Flexible Ashok Chaturvedi, Chairman & Managing Director Packaging and New Product Development and Di
Slide 49: Management Team
Management Team Professional Management with an average experience of > 25 Years in Business, Corporate, Project & Operational Excellence 28 Vinod Hariharan, Executive Vice President, Holography Business 30 Chandan Chattaraj, President, Human Resources (India and Global) • Brings over 28 years of ex
Slide 50: Shareholding Pattern – March 2026
Shareholding Pattern – March 2026 Historical Shareholding Pattern ( in %) Shareholding Categories Mar’25 Jun’25 Sep’25 Dec’25 Mar’26 Promoter Group 44.58 44.58 44.58 44.58 44.58 Others 24.03% FIIs, FPIs and FC 15.14 15.19 15.31 16.55 16.78 Promoter MF and AIF Group 0.28% 44.58% CBO, Insurance and FI
Slide 51: UFlex Group Holding Structure
UFlex Group Holding Structure CORPORATE STRUCTURE Integrated Flexible Packaging Solution Provider Outside India India 68% Business Holding Special Purpose Cultivation, Plastic Films International Sales & Sales & Sales & Investment Investment 59.17% activities incl. Vehicle for Freeze, Drying Manufac
Slide 52: Auditors Information
Auditors Information Locations Auditors India Lodha & Co LLP & Vijay Sehgal & Co. Dubai Shah & Al-shamali Associates Egypt BDO, Khaled & Co Poland KPMG Audyt Spółka z ograniczoną odpowiedzialnością sp.k. USA Crowe LLP Mexico Gutierrez Saldivar & Asociados Hungary BDO Nigeria PKF CIS Unicon JSC Proce
Slide 53: Foreign Exchange Exposure
Foreign Exchange Exposure FY 2025-26 FY 2024-25 FY 2023-24 FY 2022-23 FY 2021-22 Closing Average Closing Average Closing Average Closing Average Closing Average USD to INR 94.65 88.42 85.58 84.54 83.37 82.75 82.22 80.33 75.81 74.33 GBP to INR 125.63 118.59 110.74 107.98 105.29 103.96 101.87 97.07 99
Slide 54: 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