Uflex reports strong Q1 FY26 performance, driven by packaging and vPET

Uflex Limited reported a consolidated revenue of Rs. 39,219 million for Q1 FY26, marking a 6.4% year-over-year (YoY) increase. This growth was attributed to higher volumes, a favorable product mix, better realizations in India, and robust gains in European and CIS markets. Key contributors included packaging film and vPET chips, which saw an 8.1% YoY growth, and the packaging business, which grew by 8.2% YoY.

Normalized EBITDA for the quarter stood at Rs. 4,698 million, reflecting a 0.3% YoY increase and maintaining a healthy 12.0% margin. The company's sales volume reached 170,504 metric tonnes (MT) in Q1 FY26, a 7.9% YoY and 3.2% quarter-over-quarter (QoQ) growth. Packaging films accounted for 76.1% of the volume mix, with packaging contributing 23.9%. The packaging business experienced an 11.7% YoY and 6.5% QoQ increase in sales volume, while packaging film sales volume rose by 6.8% YoY and 2.3% QoQ.

The Egypt vPET chips plant, with a capacity of 216,000 MT, achieved a 74.6% capacity utilization in its first full quarter of operations. In India, the Panipat plant's utilization rate improved significantly to 96.6% in Q1 FY26, up from 65.2% in Q1 FY25 and 72.9% in Q4 FY25. The normalized profit after tax (PAT) for the quarter was Rs. 580 million.