Page 43 - Plastics News June 2018

Business news

Uflex Top Line for FY 2017-18 Up Universal Plastics buys custom

by 9% Y-O-Y thermoformer W. Kintz Plastics

flex Limited, Flexible packaging materials and solution niversal Plastics Group is bulking up its
Ucompany has declared the earnings for the Quarter Uthermoforming division with the acquisition of
ended 31 March 2018.The Consolidated Total Revenue for
Q4 FY 2017-18 stood at Rs.1815.6 Crore as compared to custom thermoformer W. Kintz Plastics Inc. in upstate
Rs. 1625.7 Crore in the last quarter of the previous fiscal New York.Terms of the deal were not disclosed. W. Kintz
thereby registering a 12% growth. At the operating level, Plastics specializes in heavy gauge, vacuum, pressure
EBITDA for the Quarter ended 31 March 2018 stood at Rs. and twin-sheet thermoforming to make custom plastic
229.3 Crore as compared to the Quarter ended 31 March parts used in the medical and transportation industries,
2017 when it was Rs. 225 Crore thereby up by 2%. among other markets.

The Consolidated Net Profit for Q4 FY 2017-18 at Rs. The company, founded in 1976 by Wynn Kintz, operates
71.1 Crore dropped by 28% w.r.t. the same quarter in out of an 80,000-square-foot facility in Howes Cave,
the previous fiscal. This is primarily due to increased N.Y., near
depreciation cost on account of commissioning of Aseptic Albany, and
Packaging Plant and higher tax outgo. Consolidated Top employs about
Line for FY 2017-18 stood at Rs. 6720.5 Crore recording 90.Universal
a 9% Y-O-Y growth. EBITDA for the fiscal ended 31 March
Plastics said
no material
changes will
be made to
staff or the
facility."Kintz
was a perfect
fit for us because they have a reputation of making
extremely high-quality parts," Jay Kumar, president
of Universal Plastics Group, said. W. Kintz Plastics
2018 remained more-or-less muted at Rs. 902.6 Crore. ranks No. 90 on Plastics News' annual listing of North
During FY 2016-17 the EBITDA stood at Rs. 898.9 Crore. American thermoformers, with estimated sales of $11
Consolidated Net Profit for FY 2017-18 has been Rs. 310.5 million in 2017. This is the first acquisition for Universal
Crores as compared to Rs. 348.5 Crore in FY 2016-17. While Plastics this year, following a somewhat steady pace of
approving and adopting the audited annual accounts for
the FY 2017-18, the Board has recommended Dividend buying activity that began not long after Kumar and his
of 20% subject to approval by the shareholders of the father, Sunil, purchased Holyoke, Mass.-based custom
company. Talking about the numbers for the whole FY thermoformer Universal Plastics Corp. back in 2012.
2017-18 Mr. Rajesh Bhatia, Global CFO, Uflex Limited In addition to Universal Plastics Corp. and W. Kintz
said, “The tangible volumes are perfect and most reliable Plastics, the group owns Mayfield Plastics Inc., another
growth indicators for Flexible Packaging Industry. We thermoformer in Sutton, Mass., that Universal Plastics
produced more and sold more in FY 2017-18. The total bought in 2013.
production volume has been up by 8.5% in FY 2017-18.
The total sales volume has also echoed the same trend Going forward, both W. Kintz Plastics and Mayfield
and has been up by 8.6% in FY 2017-18 when compared Plastics will be rebranded as Universal Plastics
to the previous fiscal. Talking individually about Films Albany and Universal Plastics Sutton, respectively,
segment, the sales volumes grew by 8% in FY 2017-18. to consolidate the group's thermoforming division,
While for the Packaging segment the sales volumes grew which now employs 300 workers across the three
by 12% in FY 2017-18. thermoforming facilities.

43 June 2018 Plastics News