Ashok Chaturvedi

Ashok ChaturvediThe founder Chairman and Managing Director of Uflex Group, Mr. Ashok Chaturvedi is a first generation entrepreneur. He has created leadership position in flexible packaging industry with his innovative and developmental approach over last 25 years.He is the key motivation driver behind the growth of the UFlex Ltd which is India’s largest and fastest-growing flexible packaging company with large capacities of plastic film and packaging products which provide end-to-end flexible packaging solutions.

Mr. Ashok Chaturvedi, has pioneered the growth of Flexible Packing industry in India. Mr. Chaturvedi’s progressive thinking made him conscious of the need to offer solutions for Flexible Packaging which led to the inception of Ulex Ltd. in 1983.

Demonstrating innovativeness and entrepreneurial skills, Mr. Chaturvedi applied the latest international technologies for tailoring and designing packing material which adapted to the needs of the customers, winning markets globally. Inspired by customer’s needs for quality, prompt delivery and service, he decided to integrate backwards in the manufacture of Polyester Film, BOPP and Co-extruded Films, Gravure Printing Cylinders, Inks, Adhesives, Pet Chips. This ensured the excellent quality of product and timely delivery to the customer.

Uflex Ltd, the Bombay Stock Exchange (UFLEX: 500148) and NSE listed, India’s largest flexible packaging company has registered the Consolidated net revenue for the March quarter of F.Y. 2015 of Rs. 1461 crore as against Rs. 1475  crore for the same period last year. The consolidated net profit for the quarter ended March 31, 2015 has been  higher at Rs. 68 crore as against Rs. 60  crore for the same period last year up by 14%.

For the full financial year ended March 31, 2015, UFlex recorded a growth of 5%  in consolidated net revenues at Rs. 6180 crore as against Rs.5863 crore for the last year.  The net profit for the full financial year (FY 2014-15) has been higher at Rs. 255  crore against Rs. 202  crore in the last year, an increase of 26%. The Board has also recommended Dividend of 27%for the FY 2015.

The higher revenue growth is attributed to increased uptake of innovative flexible packaging solutions offered by the company across sectors.  The company’s continued commitment towards innovation and adding value to clients’ businesses, which enables them to delight their customers with bouquet of packaging solutions and adhering to time sensitive operational practices has ensured strong relationships.

Expansion Plans

UFLEX’s agenda of global expansion and consolidation of its position as a truly Indian MNC (Multinational Corporation) is reinforced with its strategy of capacity expansion and adding manufacturing lines for various product categories across existing and newer locations to increase proximity to the markets, but also to bring broad portfolio of value added products to its clients at competitive price points. Accordingly, the Company has been on its drive to set-up new plants for developing and manufacturingmany new packaging products for existing and newer applications  to achieve its growth plans in future.

Uflex’s strong manufacturing base in India, Mexico, Dubai, Egypt, Poland and USA caters to global markets spanning USA, Canada, South America, UK, Europe, Russia, CIS countries, South Africa and other African countries, the Middle East and the South Asian Countries.

The company offers its flexible packaging products and solutions globally to clients including Unilever, Pepsi, Wrigley, Procter & Gamble, Colgate, Palmolive, Nestle, Gillette, Ranbaxy, Perfetti, Joyco, Monsanto, ITC, Godrej Pillsbury, Tata Tea, Hindustan Petroleum, Indian Oil, Britannia, Dabur, Haldiram, Wockhardt, HUL, Parle Biscuit, Birla 3M, among others.