Uflex Limited — Earnings Release 2020

Feb 13, 2020

UFLEX LIMITED 'A part of your daily life' Division/Office: CORPORATE - SECRETARIAL Corporate Office: A-107-108, Sector-IV, Distt. Gautam Budh Nagar, NOIDA - 201301, (U.P.), India Tel.: +91-120-4012345/2522558 Fax: +91-120-2442903 Website: www.uflexltd.com E-maiIID:secretarial@uflexltd.com

UFLEX/SEC/2020/ 13 February, 2020

The National Stock Exchange of India Limited Exchange Plaza, 5th Floor Plot No,C/I, G-Block Bandra-Kurla Complex Bandra (E), Mumbai - 400051

The BSE Limited Corporate Relationships Department 1st Floor, New Trading Ring, Rotunda Building, P J Towers, Dalal Street, Fort, Mumbai - 400001

Subject Press Release

Dear Sir,

We attach herewith a "Press Release" for the information of Members.

Thanking you,

(Ajay Krishna) Sr. Vice President (Legal) & Company Secretary

Encl: As above

UFlex Closes Q3 of FY19-20 with 570/0 Higher PAT YoY

February 13, 2020, Noida: UFlex Ltd., India's largest multinational flexible packaging company and a global player in polymer sciences, today declared its earnings for the quarter ended December 31, 2019. Consolidated EBITDA for Q3 FY19-20 stood at INR 276.4cr, showing a jump of 21.4% on YoY basis while its consolidated net profit was up 56.7% YoY at INR 84.6 cr.

The Total Production Volume during the quarter was 93161 metric tonnes (MT) as compared to 96876 MT during the December 2018 quarter, while Total Sales Volume for the quarter was 91842 MT vis-a-vis 94229 MT in the December, 2018 quarter. The company reported consolidated net revenues of INR 1801cr for third quarter of fiscal 2019-20, as compared to INR 1981cr in same period last year.

Talking about the earnings for the company, Rajesh Bhatia, Global CFO, UFlex Ltd. said, "Q3 FY2019-20 was extremely exciting for us, from being ranked at 188 among India's Fortune 500 to India Ratings upgrading us to IND 'A' ratings". Adding, "Overall, operating EBITDAmargins of 15% was achieved for the quarter driven by higher margins in Packaging Films Business and higher volumes in Packaging Business. In FY21, company's Greenfield plants in Russia, Nigeria and Hungary will become operational and will add to the topline and profitability. Theproduction, sales volume and net revenue in Q3 were lower marginally due to closure of one BOPETline in Dubai which is being shifted to Russia, but the Operating EBITDA was sti/l up 19% YoY.It is heartening to see that the Packaging Business production volume in Q3 is up by 11% approx. "

Reinforcing the efforts by the company towards sustainability, Ashok Chaturvedi, CMD, UFlex Limited said, "The industry led by UFlex has got together to form Multi-Layer Plastics Films Sanitation Trust (MLPFST)that is partnering with State Governments to set up municipal solid waste sorting and segregation plant that will separate the plastic recoverable from mixed garbage via automated technology and recycle MLP waste into granules for making various plastic items including buckets, mugs, flower pots, outdoor furniture and many more. MLPFST has started off this project with the set-up of a pilot plant in Bengaluru and another one to be established at a leading tourist destination in North India later. This step validates our efforts to lead our industry in changing the myth around plastic and ensure that plastic reaches the right stream for its recovery. "

Some key product launches in this quarter by UFlex that will chanqe the way the market functions

• y New Products by Chemicals to Promote Sustainability: With an objective to promote sustainability, UFlex Chemicals Business launched three new products for the global markets that included :-
• a. FLEXSEALBlister Coating- A water-based PUD used as heat sealable paperboard overprint varnish for sealing PETor PVCblisters and fold-over packages.
• b. Aqueous Narrow Web Inks- Inks that were specially created to replace solvent based wide web flexo inks for high-end food packaging applications.

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(AJAY KR1SHNA) Sf Vicl: President (Legal) & . Company Secretary

• c. Aqueous water resistant OPV- Superior scuff and water resistant properties for deep-freeze and food wrap application.
• » Engineering Innovations for Pharma Packaging: In order to value add to pharma industry, the Engineering business of UFlex developed machines that further push the pharma packaging industry towards a brighter future :-
• a. Rotogravure Printing Press Designed to Print on Aluminum Foil- 'Rotoflex Stanmas 20' is an engineering innovation by UFlex that strengthens the portfolio of Rotogravure printing machine it already offers. This machine can be used for printing multiple substrates and can print on aluminium foil of varying thickness as well as other substrates spread over polymer family and paper. The ideal printing speed on the machine is 150 meters/minute for aluminium foil, while other substrates can run upto 200 meters/minute. The press that prints with solvent-based inks, also comes affixed with the unique feature of an Electrical Heating. Suitable for narrow web application, Rotoflex Stanmas 20 is a mechanical line shaft that can stretch upto 8 colours configuration. UFlex has developed the machine with technical inputs from MRG Grafomac of Italy and in-house design team. Kalyar Replica, a leading flexible packaging convertor in Bangladesh, has been the first buyer of a special purpose 4-colour Rotoflex Stanmas 20 for pharma packaging.
• b. Multi Lane Stick Pack Machine VFFS for Packing of Single dose Pharma Products- Multitrack Stick Pack Machine by UFlex( Model Stick Pack 200) is a fivelane machine for packing powder, granules and paste at a speed of up to 250 sticks per minute. This machine can pack content in centre seal tubular shaped sachets ranging in weight from 19m to 20 gm and is best used for pharma products that can be consumed in a single dose.
• » A Stylish Revival to Aseptic Packaging with Lens Effect: UFlex launched a cutting-edge packaging solution with lens effect called 'Asepto Eye' for the beverages segment. Asepto Eye is a ripple concave lens and single lens technology that gives 3- D effects on the aseptic packs. These lenses come in various sizes & shapes and offers bespoke artwork, as per the brand owner's requirements. The newest offering from Asepto gives myriad choices to beverage manufacturers to be distinct on the shelves, and also add a premium value to their brand through UFlex packaging.
• » Aesthetic Enhancement & Anti Counterfeit Solutions for Labels & Stationary Industry: With its range of advanced Holographic Solutions developed, UFlex is ready to give a facelift to Books, Labels & Stationary, Cartons and Textile industry:-
• a. Developed Registered De-metalized Holographic Tape which is hot stamped on product labels and is made with 19 micron PETbase film. This solution that is used as an anti-counterfeit feature targets India as well as Export markets.
• b. Soft Touch Lamination film for Carton Packaging is available in PETas well as BOPP base films. In this, the film is induced with a special coating that gives a smooth and silky touch effect adding to the aesthetics of the product that it is applied to. A product that largely targets Indian customers has found takers in segments like Stationary, Product Catalogues, Books, Cartons Labels etc.

(AJAY KRISHNA) Sr. Vice President (Legal) & Company Secretary

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:4 pant of youn daily life'

• c. Dhoop Chaon Design for Hot Stamping Foil is a unique offering by Holographic Business of UFlex which enables hot stamping coatings on 12 micron PETbase film to give special effects, without holography. This product has got customers' attention in Surat Textile market especially for fabrics required to create fashion clothing, home furnishing & other decorative products. Dhoop Chaon design is also applicable in Graphic Grade in Cartons, Labels & Stationary, Books and more.
• d. Multi-colour Rainbow Stamping Foil that augments aesthetic and shelf appeal of a product has been developed for stationary products. Achieved by hot stamping on a 12 micron PETbase film with multi-colour printed foils, the solution also serves as an anti-counterfeit tool and is advantageous for Cartons, Labels, Stationary industry.
• **~ Laser Embossed Cylinder for Hand Embossing Effect:** Getting hand embossing effect on a table cover, curtain and wall paper have been made possible with the launch of Laser Embossed Cylinders by UFlex. Targeting niche markets with this product, the Cylinder Business of UFlex is already witnessing an upsurge in demand in the domestic as well as international markets.

For more details on the Results for Quarter ended ar= December, 2019, click on : www.UFlexltd.com/financials.php

About UFlex:

UFlex is India's largest multinational flexible packaging materials and Solution Company and a leading global player in Polymer Sciences. Since its inception back in 1985, UFlex has grown from strength to strength to evolve as a truly Indian Multinational with consumers spread across the world. UFlex today has state-of-the-art packaging facilities at multiple locations in India with installed capacity of around 1,35,000 TPA and has packaging film manufacturing facilities in India, UAE, Mexico Egypt, Polandand USA.

Integrated within its core business profile are allied businesses like Aseptic Liquid Packaging, Engineering, Cylinders, Holography and Chemicals which further gives UFlex a superior edge over competition. UFlex offers technologically superior packaging solutions for a wide variety of products such as snack foods, confectionery, sugar, rice, other cereals, beverages, tea & coffee, dessert mixes, noodles, wheat flour, soaps, detergents, shampoos, conditioners, vegetable oil, spices, marinades & pastes, dairy products, frozen food, poultry, anti-fog, pet food, pharmaceuticals, contraceptives, garden fertilizers, plant nutrients, motor oil, lubricants, automotive and engineering components etc.

All UFlex plants are accredited with ISO 9001, 14001, HACCP& BRC certifications. UFlex caters to markets spanning across the globe in over 140 countries like USA, Canada, South American countries, UK and other European Countries, Russia, South Africa, CIS, Asian and African nations. Some of UFlex' clients on the global turf include P&G, PepsiCo,Tata Global Beverages, Mondelez, L'Oreal, Britannia, Haldiram's, Amul, Kimberly Clark, Ferrero Rocher, Perfetti, GSK, Nestle, Agrotech Foods, Coca-Cola, Mars Wrigley, Johnson & Johnson amongst others.

UFlex is a winner of various prestigious national and international awards for its products' excellence including Dow's 2018 30th Awards for Packaging Innovation and Sustainability

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Awards 2018 besides the recently won Packaging Company of the Year by PrintWeek Awards 2019.

UFlex became the 'first company in the world to recycle mix plastic waste' for which it earned recognition at Davos Recycle Forum in 1995. For more details, click on: www.UFlexltd.com

For further information, contact:

Aarti Laxmanan UFlex Limited Mobile No: +91 98998 13325 E-mail: corpcomm@uflexltd.com Jaspreet Kaur One Source Mobile: +91 98100 36355 Email: Uflex@one-source.co.in

Investor Queries:

Rajesh Agrawal Vice President, Investor Relations, UFlex Limited Mobile No.: +91 99674 91495 E-mail: rajesh.agrawal@UFlexltd.com

For UFLEX ~""'IJ.

(AJAY KRISHNA) SL Vice ~resjdent (Legal) & v.ompany Secretary

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