UFLEX

UFLEX share price & financials

Price
₹438.8
Market cap
₹4.4k Cr
Sector
Capital Goods
Calls analysed
8
Latest concall · Q1 FY27 · call held 17 Aug 2026

UFLEX Limited Q1 FY27

Consolidated Revenue 53,972 million +38%EBITDA 9,198 million +92%EBITDA Margin 17% PAT 4,233 million

What went well

  • Consolidated revenue grew 38% Y-o-Y to Rs. 53,972 million, driven by overseas operations (80% incremental revenue).
  • EBITDA rose 92% Y-o-Y to Rs. 9,198 million, achieving the highest EBITDA performance in 21 quarters, with margin expanding 480 bps to 17%.
  • Normalized EBITDA grew 78% Y-o-Y to Rs. 8,373 million, with margin at 15.5%, reflecting significant improvement in overseas profitability.

What to watch

  • Overall Packaging volumes slipped 8.4% year-on-year to 37,285 metric tons due to strategic shift to high-margin products in India and softness in Aseptic Packaging.
  • Aseptic Packaging in India faced challenges from duty-free imports at aggressive prices, leading to slower expansion in this quarter.
Read the full call →

What UFLEX Limited does

UFlex is India's largest multinational flexible packaging and solutions company, running a vertically integrated chain from virgin and recycled PET chips through BOPET/BOPP/CPP packaging films to finished flexible packaging, aseptic liquid-carton packaging, printing cylinders, holograms, and packaging inks and adhesives. It manufactures locally in each region it serves - India, the UAE, Egypt, Nigeria, Poland, Hungary, the CIS, the USA and Mexico - rather than exporting from a single hub, and supplies FMCG, food and beverage, dairy, pharmaceutical and cosmetics brands in over 150 countries. Beyond films and packaging materials, it also builds the high-speed filling machines used to package liquids under its own ASEPTO aseptic-packaging brand.

Segments

  • Packaging Films
  • Flexible Packaging
  • Aseptic Packaging
  • PET Chips (Resins)
  • Chemicals
  • Holography
  • Printing Cylinders
  • Engineering
Global manufacturing facilities
17 facilities across 9 countries and 5 continents
Total installed capacity
1.3 million+ MTPA across resins, films, chemicals, holography, flexible and aseptic packaging
Countries served
150+ countries
Customer base
5,000+ customers
Workforce
12,000+ employees
Operating businesses
8 complementary businesses: Packaging Films, Flexible Packaging, Aseptic Packaging, PET Chips, Chemicals, Holography, Printing Cylinders, Engineering
Founded 1985Headquarters Noida, India Company website

Guidance record · Q1 FY27

what the last two calls moved 24 tracked 6 delivered 6 missed 12 open
  • FY26 EBITDA delivered, diluted said Q4 FY25 Promised: INR 2,100-odd crores Q1 FY27: Historical target, no further updates.
  • FY25 Full Year EBITDA missed said Q2 FY25 Promised: INR 2,000 crores plus Q1 FY27: Historical target, no further updates.
  • Net Debt-to-EBITDA Ratio (FY27) delayed said Q1 FY26 Promised: surely be under 3x Q1 FY27: Management now guides for the ratio to be below 3x by FY28, a one-year delay from the original FY27 target. However, the ratio has improved significantly in Q1 FY27 to 3.5x from 4.35x.

All 24 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 37.6%, net profit up 629.3% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue3,833 3,735 3,814 3,901 3,832 −0%3,612 −3%4,056 +6%5,366 +38%
EBITDA392 454 410 454 386 −2%436 −4%584 +42%889 +96%
Net profit-65 137 169 58 27 +142%36 −74%196 +16%423 +629%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +17.7% 1Y

₹400₹500₹600₹700Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 14 Nov 2025Q3 FY26 — 16 Feb 2026Q4 FY26 — 1 Jun 2026Q1 FY27 — 17 Aug 2026

1Y: ₹555.25 on 10 Sept 2025 → ₹653.45. High ₹701.8 (2 Sept 2026), low ₹334.35 (30 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
+20.0%
17 Aug
Q4 FY26
+3.9%
1 Jun
Q3 FY26
+0.6%
16 Feb
Q2 FY26
−2.5%
14 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 1.7% a year over 3 years, FY23 to FY26. Operating margin held at 12.1%.

Year endingFY23FY24FY25FY26
Revenue₹14.7k Cr₹13.4k Cr₹15.0k Cr₹15.4k Cr
Operating profit₹1.8k Cr₹1.4k Cr₹1.7k Cr₹1.9k Cr
Operating margin12.0%10.2%11.1%12.1%
Interest₹473 Cr₹535 Cr₹698 Cr₹777 Cr
Depreciation₹600 Cr₹655 Cr₹694 Cr₹787 Cr
Net profit₹482 Cr₹-691 Cr₹143 Cr₹317 Cr
Net margin3.3%-5.2%1.0%2.1%
Cash from operations₹1.4k Cr₹825 Cr₹1.1k Cr₹992 Cr
Free cash flow₹105 Cr₹-809 Cr₹-591 Cr₹-1.1k Cr
ROCE10.0%6.0%8.0%7.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹72 Cr₹72 Cr₹72 Cr₹72 Cr₹72 Cr₹72 Cr
Reserves₹5.5k Cr₹6.6k Cr₹7.4k Cr₹7.2k Cr₹7.7k Cr₹8.1k Cr
Borrowings₹4.0k Cr₹4.8k Cr₹5.7k Cr₹6.9k Cr₹9.3k Cr₹10.2k Cr
Other liabilities₹2.2k Cr₹3.0k Cr₹3.2k Cr₹3.2k Cr₹3.7k Cr₹3.9k Cr
Total liabilities₹11.8k Cr₹14.4k Cr₹16.4k Cr₹17.3k Cr₹20.8k Cr₹22.2k Cr
Fixed assets₹5.0k Cr₹6.4k Cr₹7.8k Cr₹8.2k Cr₹9.0k Cr₹9.8k Cr
Capital work in progress₹1.5k Cr₹671 Cr₹466 Cr₹538 Cr₹1.3k Cr₹2.2k Cr
Investments₹205 Cr₹212 Cr₹191 Cr₹170 Cr₹131 Cr₹116 Cr
Other assets₹5.1k Cr₹7.1k Cr₹8.0k Cr₹8.4k Cr₹10.3k Cr₹10.1k Cr
Total assets₹11.8k Cr₹14.4k Cr₹16.4k Cr₹17.3k Cr₹20.8k Cr₹22.2k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, the public trimmed −2.50 pp while FIIs added +2.41 pp. The shareholder count shrank 2% to 43,889.

Promoters
44.6%
FIIs
10.0%
DIIs
0.6%
Public
44.8%

Since Jun 2025

  • Public −2.50 pp
  • FIIs +2.41 pp
  • DIIs +0.07 pp

How it drifted, 12 quarters

Over this window FIIs went from 6.5% to 10.0% — +3.5 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 44.6%, FIIs 6.5%, DIIs 0.7%, Public 48.3%.Dec '23: Promoters 44.6%, FIIs 7.0%, DIIs 0.7%, Public 47.7%.Mar '24: Promoters 44.6%, FIIs 7.5%, DIIs 0.7%, Public 47.3%.Jun '24: Promoters 44.6%, FIIs 8.0%, DIIs 0.7%, Public 46.7%.Sep '24: Promoters 44.6%, FIIs 7.6%, DIIs 0.6%, Public 47.2%.Dec '24: Promoters 44.6%, FIIs 7.9%, DIIs 0.5%, Public 47.0%.Mar '25: Promoters 44.6%, FIIs 7.6%, DIIs 0.5%, Public 47.3%.Jun '25: Promoters 44.6%, FIIs 7.6%, DIIs 0.5%, Public 47.3%.Sep '25: Promoters 44.6%, FIIs 7.8%, DIIs 0.5%, Public 47.2%.Dec '25: Promoters 44.6%, FIIs 9.0%, DIIs 0.5%, Public 45.9%.Mar '26: Promoters 44.6%, FIIs 9.2%, DIIs 0.5%, Public 45.7%.Jun '26: Promoters 44.6%, FIIs 10.0%, DIIs 0.6%, Public 44.8%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 2 holders trimming and 1 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of UFLEX Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Flex International Pvt Ltd 13.30%unchanged
Vistra Itcl India Limited 11.45%−1.04 pp
Anshika Investments Pvt Ltd 7.99%unchanged
Kebale Trading Limited 7.57%unchanged
A.R.Leasing Pvt Ltd 6.92%unchanged
Apoorva Extrusion Pvt Ltd 5.99%unchanged
Anshika Consultants Pvt Ltd 5.23%unchanged
First Water Fund Class C AIF4.47%newly disclosed
Haresh Tikamdas Keswani 4.40%unchanged
Black Rhino Holdings Limited FPI fund3.89%unchanged
Ricky Ishwardas Kirpalani 3.49%unchanged
Ashok Kumar Chaturvedi HUF (Ashok Kumar Chaturvedi) 2.35%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

All earnings calls (8)

Read the Q1 FY27 call →

Learn to analyse UFLEX Limited

Guides on how to read this kind of business and the numbers that matter.