Companies

Uflex eyes 30% revenue from exports in next 3 years

PTI Mumbai | Updated on January 20, 2018 Published on March 20, 2016

Uflex is eyeing 30 per cent revenue from export markets in the next three years.

At present, exports account for 18-20 per cent of the total revenue of its packaging business, Uflex Group President (Corporate Finance and Accounts) R K Jain told PTI.

Packaging business accounts for 44 per cent of the total revenue of Uflex, which is also into production of chemicals, cylinders and holograms and engineering.

The company exports products to over 140 countries from its manufacturing units in India, Poland, the US, Mexico, Dubai and Egypt.

The packaging major has crossed the $1-billion revenue mark in India and wants to double its income to $2 billion in 4-5 years.

The company is setting up an aseptic packaging plant for liquid packaging in Sanand, Gujarat with an investment of about Rs 580 crore in first phase and the total capacity will be 7 billion packs per annum.

“The funding of the first phase, which has a capex of Rs 580 crore, was done partly through debt and partly through internal accrual,” Jain said.

Published on March 20, 2016
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