homevideos Newsearnings NewsUFlex holding on to margin guidance of 20% in FY22, says CFO Rajesh Bhatia
UFlex holding on to margin guidance of 20% in FY22, says CFO Rajesh Bhatia
Flexible packaging materials firm UFlex is holding on to margin guidance of 20 percent in FY22, Rajesh Bhatia, group president and CFO, said on August 16.
Flexible packaging materials firm UFlex is holding on to margin guidance of 20 percent in FY22, Rajesh Bhatia, group president and CFO, said on August 16.
“Margins will be between 18 percent and 20 percent (for FY22),” Bhatia told CNBC-TV18. He, however, added that in this quarter, raw material prices went up by 7-8 percent in India to 20-30 percent at some overseas locations.
Speaking about volume, UFlex said 20 percent is achievable for this year. “In Q1 (FY22) we had 30 percent volume growth in sales and production on a year on year (YoY) basis. So volume numbers look achievable,” he said.
The flexible packaging materials and solutions company reported earnings for the June-ended quarter and saw good profit and revenue growth even as margin slipped.
For the entire management interview, watch the video
(Edited by : Kanishka Sarkar)
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
