Uflex unpacks and falls
By
Ruma Dubey
about 3 years ago
On the 1st of July, Uflex hit a new high at Rs.594 and today, it is down 14% at Rs.513 currently and the overall bias seems negative on the counter currently; it is the top loser on the BSE.
This profit booking after the company announced its earnings for Q1FY22 wherein it reported a 34% (YoY) jump in consolidated net profit at Rs.264 crore on a 34% rise in revenue from operations at Rs.2757 crore.
Its revenue from Flexible Packaging Activities was up 39% while that from Engineering Activities was up 8%.
Post the earnings, in a TV interview, the CEO said that UFlex is holding on to margin guidance of 20% in FY22.