Uflex eyes Rs 3,500 cr revenue, 25 per cent marketshare by FY 11

MUMBAI: Riding the robust growth in the domestic packaging industry and a good performance so far, BSE-listed Uflex is targeting an ambitious Rs 3,500 crore revenue and a 25 per cent market share by end-this fiscal, a senior company official said.

"We are targeting a Rs 3,500 crore revenue by FY 11 as against Rs 2,300 crore in the year-ago period. We also expect to up our market share to 25 per cent from the present 21 per cent by end-this fiscal," Uflex's Group President (Finance and Accounts), R K Jain, said in Mumbai.

By FY 12, the flexible packaging major hopes to capture a substantial 40 per cent market share, he added.

The company has lined-up a capex of Rs 900 crore over the next two years to beef-up its capacity in both the domestic and overseas markets.

"We plan to invest around Rs 900 crore over the next two years to enhance the capacity of our existing facilities in domestic as well as overseas markets," he said.

Presently, Uflex has three manufacturing units -- Jammu, Noida and Gwalior in India and three facilities overseas, in Mexico, Egypt and Dubai.

The company plans to enhance its packaging capacity, both domestic and overseas, to 3.35 lakh tonnes per annum (tpa) from the present 2.35 lakh tpa by FY 12, Jain said.

The company's current order-book presently stands at around Rs 500-crore, he said