India’s Top 500 Companies 2022

INDIA’S TOP 500 COMPANIES 2022 331 Advertorial Big Bags for pet food or Hot-fill pouches for baby food, Premium shower-proof bags for cement, Block bottom bags for chemicals and fertilizers, FlexFresh TM modified atmospheric packs for fresh produce, Blister packs for medicines, Easy-tear sachets, laminated tubes FlexiTubes many more, its offering goes beyond the conventional use of flexible packaging. Aseptic Liquid Packaging Business UFlex is the first Indian manufacturer of aseptic liquid packaging material under the brand name ‘Asepto’ with a facility in Sanand in Gujarat. Supplied in Brick, Pillow, Trio, Ultra Lean, Crown and Square pack formats, Asepto creates packs with effects like foil stamping, holography, and 3D lens. It caters to segments viz., Juices, Non-aerated Alcoholic Beverages and highly perishable liquid consumables like Milk and other Dairy products. Besides, UFlex also provides printing inks, laminating adhesives, specialty coatings, ink binders and polyol, packaging & converting machines, rotogravure printing cylinders, Flexo Plates and Flexo Printing Sleeves for intaglio printing and anti-counterfeit and anti- counterfeiting and brand enhancement value enabler products. Some of the recent product innovations by UFlex are as follows: • Eco-friendly paper based tubes Kraftika made of virgin kraft paper. • Asclepius films with upto 100% PCR PET resin content derived from upcycled post-consumer PET bottles reduces carbon footprint by 75%. • 4D Bag, a brick-shaped all panel registered bag with handle and re-closable option. • F-UHB-M, a path-breaking recyclable BOPET film with ultra- high water & oxygen barrier for aluminium foil replacement. • RELAM 250, a machine to recycle layers of MLP (multi-layer packaging) mixed plastic waste homogeneously. • Registered Lens with holography label packaging to prevent brands products from counterfeiting and enhance packs’ aesthetics. • Developed a host of sustainable packaging products with use of mono-materials that support material simplification for better recycling efficiencies; and low on carbon footprint packaging films without sacrificing on quality of film. • Secured India patent for its new process to derive epoxy ester resin. Sustainable Footprint of UFlex UFlex recycles way above the plastic waste it generates during production. The company has two recycling lines at its Noida facility, one that recycles post-consumer PET bottle waste to derive PET chips and another line that converts MLP mixed plastic waste into granules to make numerous useful products. UFlex is also working on replicating a similar infrastructure at its Mexico and Poland facility to tackle the issue of rising urban plastic waste. With a mission to keep plastic in the economy and out of the environment, UFlex has deployed a four-fold approach to resolve plastic waste issue under the mantle of its global sustainability initiative ‘Project Plastic Fix’. The holistic solution to turn waste into wealth are- Recycling post-consumer MLP waste into goods of economic value, Upcycling PET bottle waste into high PCR content packaging films, Turning Waste into forms of energy through Pyrolysis and Biodegradable packaging solution which is undergoing trial runs. To share its expertise and practices in recovering and recycling post-consumer plastic waste with the world and also learn universally accepted practices from others, UFlex joined global non-profit organization with a mission to eliminate plastic waste ‘Alliance to End Plastic Waste’ as a board member. UFlex’ Business Highlights • The company has been on an aggressive expansion spree since FY2020 and has made a series of greenfield and brownfield expansions in packaging films business. It moved one of its BOPET lines from UAE to its new plant in Russia situated in Stupino district in Moscow region for catering to Russia and CIS market. Furthermore, UFlex has also added a BOPET film line each at its existing plant in Poland and new plant in Nigeria. • The company’s subsidiary in Egypt commissioned another BOPP line and forayed into Hungary with a new BOPP line providing it with an advantage of offering a mix of BOPP and BOPET films in the European Union region. • New packaging films plant coming up in Dharwad in Karnataka with an investment of ~INR 850cr and a CPP line in UAE. • India Ratings and Research (Ind-Ra) upgraded the credit rating of UFlex to ‘IND AA-’ with a stable outlook. CRISIL upgraded UFlex’ short term rating to A1+ and long term rating to AA-. Dun & Bradstreet