Uflex Limited (UFLEX) · mywealthgrid

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About

Uflex Limited manufactures packaging solutions within the industrial products sector. With consolidated quarterly revenues around ₹3.8–4.1 Cr and a market cap of ₹3,526 Cr, it operates at mid-scale; the company pays regular dividends and derives approximately half its revenue from subsidiaries and associates.

Face value: ₹10

Market cap

₹4,692 Cr

P/E

6.9×

P/B

0.6×

Dividend yield

0.9%

ROE

4.1%

ROCE

8.6%

Debt / equity

1.21

OPM

12.2%

EPS (TTM)

₹94.5

Book value

₹1,124.8

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

ROE of 4.08% is substantially below expectations for a company with 12.15% operating margins — verify what is suppressing capital returns
Operating margins showed significant volatility in recent quarters (8.8% to 14.43%) — determine whether the recent 14.43% peak is sustainable or driven by favorable one-time factors
Debt-to-equity of 1.21 combined with weak ROE leaves limited financial flexibility if margins compress
Consolidated net profit ranged from ₹26.91 Cr to ₹196.03 Cr in recent quarters — assess whether profitability is stabilizing or remains highly cyclical

Generated analysis · source review pending

Growth drivers

Operating margin recovered to 14.43% in Q4 FY2026 (Mar 2026) from 10.17% in Q2 — sustaining this level would drive significant earnings improvement from the ₹4,055.92 Cr revenue base
Q4 consolidated revenue of ₹4,055.92 Cr showed sequential growth from ₹3,832.03 Cr in Q2 — if this momentum continues, it will translate to earnings expansion
Subsidiaries and associates contribute ₹2,084 Cr of ₹4,055.92 Cr Q4 consolidated revenue — growth in these entities would amplify overall group earnings

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹649.9+0.3%1Y

Quick read

rule-based

Pros

No positive flags triggered.

Cons

−Low return on equity of 0.8% (3-yr avg)
−Profit declined 17.8% a year over the last 5 years
−Weak interest coverage of 1.5×
−Low dividend payout of 6.4% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

55/100

Business quality: 16
Growth: 52
Valuation: 99

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	6,789	7,405	8,891	13,127	14,663	13,364	15,036	15,401
COGS	4,036	4,251	4,690	7,747	9,207	8,303	9,247	9,062
Gross profit	2,753	3,154	4,201	5,380	5,455	5,061	5,789	6,339
	1,872	2,072	2,398	3,210	3,699	3,693	4,118	4,479
	881	1,082	1,803	2,170	1,756	1,367	1,671	1,860
OPM %	13%	14.6%	20.3%	16.5%	12%	10.2%	11.1%	12.1%
Depreciation	352	403	456	537	599	655	695	787
Interest	197	225	229	322	473	536	698	777
	20	27	24	72	-28	-725	-30	93
Profit before tax	352	481	1,142	1,382	656	-549	248	389
Tax	42	110	299	283	175	142	106	72
Tax %	11.8%	22.9%	26.1%	20.5%	26.7%	25.9%	42.6%	18.6%
	310	371	844	1,099	481	-691	142	317
PAT margin %	4.6%	5%	9.5%	8.4%	3.3%	-5.2%	1%	2.1%
EPS (₹)	43	51.2	116.7	152.1	66.6	-95.7	19.7	43.9
EPS adjusted (₹)	—	66.9	116.8	152.3	66.6	-35.8	19.7	43.9
	4.7%	3.9%	2.1%	2%	4.5%	—	15.2%	6.8%
Annual report	Annual report for Mar 2018	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	55	72	72	72	72	72	72
Reserves	—	5,476	6,614	7,433	7,153	7,324	8,050
Minority interest	—	8	9	—	—	—	—
	—	3,985	4,563	5,495	6,720	8,116	9,853
	—	2,278	3,183	3,437	3,403	3,924	4,196
Total equity & liabilities	—	11,820	14,441	16,438	17,348	19,437	22,171
	1,199	5,020	6,406	7,226	7,678	8,179	9,193
CWIP	—	1,509	662	457	538	712	2,169
Investments	—	218	223	203	181	159	129
	—	5,073	7,150	8,552	8,951	10,388	10,680
Total assets	—	11,820	14,441	16,438	17,348	19,437	22,171

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Flexible Packaging Activities	15,036.16	1,296.25	20,669.22	10,204.05	10,465.17	12.39
Engineering Activities	530.27	84.74

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	40.5%	42.6%	47.3%	41%	37.2%	37.9%	38.5%	41.2%
EBITDA margin %	13%	14.6%	20.3%	16.5%	12%	10.2%	11.1%	12.2%
EBIT margin %	7.8%	9.2%	15.2%	12.4%	7.9%	5.3%	6.5%	7%
PAT margin %	4.6%	5%	9.5%	8.4%	3.3%	-5.2%	1%	2.1%
Working capital
Receivable days	—	—	99	98	80	94	91	92
Inventory days	—	—	90	86	92	84	100	97
Payable days	—	—	105	92	86	90	90	99
NWC days	—	—	83	92	87	88	101	89
Leverage
Current ratio	—	—	1.57	1.64	1.56	1.46	1.31	1.21
Debt to EBITDA	—	—	2.21	2.1	3.13	4.91	4.86	5.27
Debt to equity	—	—	0.72	0.68	0.73	0.93	1.1	1.21
Interest coverage	2.8	3.1	6	5.4	2.7	1.6	1.6	1.5
Asset turnover	—	—	0.75	0.91	0.89	0.77	0.77	0.69
Return ratios
Return on assets %	—	—	7.1%	7.6%	2.9%	-4%	0.7%	1.4%
Return on capital employed %	—	—	15.6%	18.2%	11.7%	7.2%	9%	8.6%
Return on equity %	—	—	15.2%	16.4%	6.4%	-9.6%	1.9%	3.9%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	44.58%	44.58%	44.58%	44.58%	44.58%	44.58%	44.58%	44.58%	44.58%	44.58%	44.58%	44.58%
	6.51%	7.03%	7.47%	8.03%	7.63%	7.94%	7.57%	7.62%	7.74%	8.98%	9.21%	10.03%
	0.68%	0.69%	0.7%	0.72%	0.58%	0.52%	0.52%	0.52%	0.52%	0.52%	0.53%	0.6%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	48.23%	47.7%	47.25%	46.67%	47.21%	46.96%	47.33%	47.28%	47.16%	45.92%	45.68%	44.79%
No. of shareholders	—	—	—	—	—	—	—	—	44,372	43,324	42,767	43,889

Promoter holding up 0 percentage points since Sep 2023.

40 deals · 13 Jun 2022 – 22 Jul 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
22 Jul 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Buy	4,76,336	₹495.51	₹23.60 Cr
22 Jul 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Sell	4,76,336	₹495.87	₹23.62 Cr
22 Jul 2026	ELIXIR WEALTH MANAGEMENT PRIVATE LIMITED	Bulk	NSE	Sell	3,89,497	₹497.75	₹19.39 Cr
22 Jul 2026	ELIXIR WEALTH MANAGEMENT PRIVATE LIMITED	Bulk	NSE	Buy	3,89,497	₹496.52	₹19.34 Cr
8 Apr 2026	K2 FAMILY PRIVATE TRUST	Block	NSE	Sell	7,50,000	₹340.00	₹25.50 Cr
8 Apr 2026	FIRST WATER FUND	Block	NSE	Buy	7,50,000	₹340.00	₹25.50 Cr
8 Apr 2026	K2 FAMILY PRIVATE TRUST	Bulk	NSE	Sell	7,50,000	₹340.00	₹25.50 Cr
8 Apr 2026	FIRST WATER FUND	Bulk	NSE	Buy	7,50,000	₹340.00	₹25.50 Cr
11 Dec 2025	K2 FAMILY PRIVATE TRUST	Block	NSE	Sell	5,45,000	₹460.00	₹25.07 Cr
11 Dec 2025	FIRST WATER FUND	Block	NSE	Buy	5,45,000	₹460.00	₹25.07 Cr

1–10 of 40

1 / 4

Mr. Ashok ChaturvediExecutive Director-Chairperson-MD
Mr. Jeevaraj Gopal PillaiExecutive Director
Mr. Paresh Nath SharmaNon-Executive - Independent Director
Mr. Sujit Kumar VarmaNon-Executive - Independent Director
Mr. Ghyanendra Nath BajpaiNon-Executive - Independent Director
Mrs. Rashmi VermaNon-Executive - Independent Director
Mr. Arun Kumar SharmaChief Financial Officer
Mr. Ritesh ChaudhryCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 1 fund houses

Held by these funds

of the company's equity

All mutual funds

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

1 schemes

		Shares
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	90	0.01	0.01%	0%	-0

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

53 announcementsExport CSV

1 Oct 2026, 5:21 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Notice of Postal Ballot

Postal Ballot PDF

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Ratio	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	40.5%	42.6%	47.3%	41%	37.2%	37.9%	38.5%	41.2%
EBITDA margin %	13%	14.6%	20.3%	16.5%	12%	10.2%	11.1%	12.2%
EBIT margin %	7.8%	9.2%	15.2%	12.4%	7.9%	5.3%	6.5%	7%
PAT margin %	4.6%	5%	9.5%	8.4%	3.3%	-5.2%	1%	2.1%
Working capital
Receivable days	—	—	99	98	80	94	91	92
Inventory days	—	—	90	86	92	84	100	97
Payable days	—	—	105	92	86	90	90	99
NWC days	—	—	83	92	87	88	101	89
Leverage
Current ratio	—	—	1.57	1.64	1.56	1.46	1.31	1.21
Debt to EBITDA	—	—	2.21	2.1	3.13	4.91	4.86	5.27
Debt to equity	—	—	0.72	0.68	0.73	0.93	1.1	1.21
Interest coverage	2.8	3.1	6	5.4	2.7	1.6	1.6	1.5
Asset turnover	—	—	0.75	0.91	0.89	0.77	0.77	0.69
Return ratios
Return on assets %	—	—	7.1%	7.6%	2.9%	-4%	0.7%	1.4%
Return on capital employed %	—	—	15.6%	18.2%	11.7%	7.2%	9%	8.6%
Return on equity %	—	—	15.2%	16.4%	6.4%	-9.6%	1.9%	3.9%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Epl LimitedEPLEPL	₹7,443 Cr	₹8,152 Cr	₹5,043 Cr	₹1,000 Cr	20.3%	₹388 Cr	8.3%	19.5%	14.9%	97
Agi Greenpac LimitedAGIAGI	₹5,116 Cr	₹5,355 Cr	₹2,763 Cr	₹628 Cr	22.3%	₹362 Cr	13.2%	18.6%	15.6%	188
Uflex LimitedUFLEXUFLEX	₹4,692 Cr	₹14,545 Cr	₹16,866 Cr	₹2,302 Cr	12.2%	₹682 Cr	2.1%	8.6%	4.1%	89
Tcpl Packaging LimitedTCPLPACKTCPLPACK	₹3,574 Cr	₹4,148 Cr	₹1,872 Cr	₹299 Cr	16.2%	₹115 Cr	5.4%	22.4%	14.4%	98
Polyplex Corporation LimitedPOLYPLEXPOLYPLEX	₹3,228 Cr	₹4,145 Cr	₹7,601 Cr	₹592 Cr	4.9%	₹155 Cr	0.6%	1.1%	1.1%	147
Jindal Poly Films LimitedJINDALPOLYJINDALPOLY	₹2,863 Cr	₹6,866 Cr	₹2,152 Cr	₹-613 Cr	-20.2%	₹-989 Cr	-36.6%	-2%	-29.6%	81
Xpro India LimitedXPROINDIAXPROINDIA	₹2,670 Cr	₹2,959 Cr	₹535 Cr	₹50 Cr	6.3%	₹33 Cr	3.9%	3.9%	2.8%	80
Knack Packaging LimitedKNACKKNACK	₹2,211 Cr	₹2,404 Cr	₹736 Cr	₹133 Cr	18.1%	₹74 Cr	10%	47.1%	41.5%	—
Mold-Tek Packaging LimitedMOLDTKPACMOLDTKPAC	₹2,187 Cr	₹2,231 Cr	₹631 Cr	₹121 Cr	19.1%	₹64 Cr	10.1%	24.3%	17.9%	148
Cosmo First LimitedCOSMOFIRSTCOSMOFIRST	₹2,166 Cr	₹3,752 Cr	₹4,004 Cr	₹428 Cr	10.5%	₹167 Cr	4.3%	11.6%	10.1%	10
Huhtamaki India LimitedHUHTAMAKIHUHTAMAKI	₹1,757 Cr	₹1,859 Cr	₹2,610 Cr	₹225 Cr	7.7%	₹136 Cr	4.8%	12.3%	9.5%	26
Arrow Greentech LimitedARROWGREENARROWGREEN	₹1,306 Cr	₹1,306 Cr	₹247 Cr	₹86 Cr	32.2%	₹64 Cr	23.6%	30.4%	22.4%	141

Date	Category	Subject	Filing
1 Oct 2026, 5:21 pm	AGM/EGM Postal Ballot	Shareholder Meeting / Postal Ballot-Notice of Postal Ballot	PDF
29 Sept 2026, 6:47 pm	Company Update Investor Presentation	Announcement under Regulation 30 (LODR)-Investor Presentation	PDF
21 Sept 2026, 5:20 pm	Company Update General	Intimation Of Grant Of Patent	PDF
7 Sept 2026, 1:51 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
21 Aug 2026, 5:49 pm	Company Update Earnings Call Transcript	Announcement under Regulation 30 (LODR)-Earnings Call Transcript	PDF
19 Aug 2026, 4:36 pm	Company Update General	Intimation Under Regulation 30 Read With Schedule III Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 ('SEBI Listing Regulations')	PDF
17 Aug 2026, 7:40 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome	PDF
17 Aug 2026, 2:28 pm	Company Update Investor Presentation	Announcement under Regulation 30 (LODR)-Investor Presentation	PDF

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,406	707	1,383	825	1,135	992
	-1,129	-951	-1,172	-1,619	-1,732	-2,015
	-62	216	292	776	678	941
Net cash flow	216	-28	503	-18	80	-82
Free cash flow	251	-276	84	-812	-597	-1,057
CFO / Operating profit %	78%	32.6%	78.7%	60.4%	67.9%	53%

Uflex Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

20

1

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Engineering Activities · revenue

Uflex Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Not in the F&O segment

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Dividends20

Board meetings1

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Engineering Activities · revenue

20

1