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Highlights
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Quarterly performance largely backed by improved realisations
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Medium-term triggers China plus and protectionist measures for tyre industry
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Valuations not inexpensive; but improved medium-term outlook
Highlights
Strong packaging demand
High-energy cost impacts packaging film volume and margins
Currency devaluation negatively impacted the group’s profitability
Semi-commoditised nature of the product to keep pressure on margins
Uflex Ltd. (CMP: Rs 486; M Cap: Rs 3,510 crore) has suffered a net loss of Rs 85 crore in Q3FY23 against a net profit of Rs 314 crore in the corresponding quarter, primarily attributed to an adverse movement in forex rates.
Uflex’s exposure to multiple currencies, and high energy cost on account of the current global…
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