UFLEX LIMITED

Uflex Limited was incorporated in June, 1988, as 'Flex Industries Limited'. Later, the name of the Company was changed from Flex Industries Limited to Uflex Limited in March, 2007. Uflex Limited, the flagship company of the Flex Group is an India-based flexible packaging Company. The Company is a leading Indian Multinational, engaged in the manufacture and sale of flexible packaging products & offers a complete flexible packaging solution to its customers across the globe. The flexible packaging business consists of multi-layer laminated rolls of plastics, paper, cloth or metal foils that are used separately or in combination for various packaging applications. It manufactures printing ink and adhesives. In 1989, Flex Laminators and Flex Papers were merged with the company. In November 1994, the company launched the operation of first line for the production of BOPET films with the capacity of 20,000 TPA. In January 1996, they launched the operation of second line for the production of BOPET films with the capacity of 20,000 TPA and in June 1996, they launched the operation of the first line for production of BOPP films with the capacity of 20,000 TPA. In January 1997, they started the commercial production of Polyethylene Teraphthalate chips. In June 2001, the company formed a wholly owned subsidiary company, namely Uflex America, located in North Carolina, USA. In July 2002, they installed the first Metallizer with a capacity of 6000 TPA and in March 2003, they installed cast polypropylene film line for producing CPP films with a capacity of 6000 TPA. In October 2003, they installed the second Metallizer with the capacity of 6000 TPA. In December 2003, the company launched the operation of the second line for the production of BOPP Films with a capacity of 15,000 TPA and in April 2004, they launched the operation of the third line for the production of BOPET Films with a capacity of 20,000 TPA. During the year 2004-05, Flex Middle East FZE and Flex Europe Pvt Ltd became the subsidiary companies of the company. In July 2004, the company installed the third Metallizer with a capacity of 6000 TPA in Jabel Ali Free Zone, UAE and in March 2005; they set up a state-of-art polyester line with a capacity of 20,000 TPA in Jabel Ali Fee Zone. In July 2005, the company installed the fourth Metallizer with plasma treatment facility with a capacity of 6000 TPA. During the year 2006-07, Flex Securities Ltd, Flex Engineering Ltd and FCL Technologies and Products Ltd merged with the company with effect from December 4, 2006. In October 2007, the company launched the operations of fifth line, 8.7 mtr wide for the production of BOPET Films with a capacity of 25000 MT/annum in Flex Middle East FZE, Dubai. Also, they launched the operations of 1.85 mtr wide Thermal Lamination Machine for the production of Thermal Lam BOPP Film with a capacity of 3600 TPA. The company set up the facilities to product flexible packaging materials with installed capacity of 12,000 TPA and Holographic materials with an installed capacity of 1600 MT per annum at Bari Brahmana in Jammu & Kashmir, which started their production from April 2008. The company is in the process of setting up Distillery Project near Aligarh in the State of Uttar Pradesh with an initialed capacity of 90 KL per day. Also, the company has decided to set up two line of PET film with a capacity of 26,400 MT each, aggregating to total capacity of 52,800 MT through a wholly owned subsidiary company. In April 2009, the company sold and transferred 51% of the holdings of UBIO Chemicals Ltd to the third party in terms of share purchase agreement dated March 30, 2009. Further, balance 49% of the shareholding of UBIO Chemicals Ltd will also be transferred in due course of time in terms of the said Share Purchase Agreement or any amendment thereof. In 2016 Uflex Limited and WaveFront Technology Inc. announced an extension of their existing alliance in India to bring manufacturing of Fresnel lens packaging films to Europe. The set up operates within Flex Films Europa Sp. Z O.O's (subsidiary company of Uflex) facility in Wrzesnia, Poland with WaveFront Technology Europe leading the sales & marketing activities. The concept of Design-Develop-Deliver the Fresnel Lens Packaging films in Europe derives its strength by working with Flex Films in Poland and by utilizing the holographic skills and capabilities of Uflex. At DRUPA 2016, Uflex shook hands with Italian firm Comiflex to manufacture C.I. Flexo printing Machines under a Technology Transfer Agreement with the latter at Uflex's manufacturing plant in Noida (India). While Uflex is commended for its engineering/ manufacturing capabilities, Comiflex SRL is a renowned entity in the field of designing and producing high quality C.I. Flexo Machines. This alliance is therefore being seen as the marriage between Technology of Comiflex and Manufacturing Prowess of Uflex and is progressing very well. All technical designs and drawings from Comiflex have been transferred to the design department of Uflex and team is now assembling the first 1.3 meter web, 8 color, central drum CI Flexo printing Machine in Noida that is being designed to operate at a speed of 400 meters per minute. In September 2016, Uflex launched ESL Aseptic Flexi-pouch Machine for packaging milk in a pouch made from five to seven layered extruded/blown polyethylene films with strong barrier properties including a black layer for U.V. protection. This solution extends the shelf life of milk up to 90 days. Uflex is the only company in India to manufacture this kind of sophisticated machines. As a fully integrated packaging solution provider, it offers the especially extruded/blown film too. During the Year, Flex P. Films (Brasil) Comercio De Films Plasticos Ltda was ceased to be a wholly owned subsidiary company with effect from 28th March 2017. In year 2017, the Company shook hands with Ms. Think Lab, Japan and set up a Fully Automatic Robotic Laser Engraving Line for manufacturing rotogravure cylinders at the Noida facility. The robotic laser engraving line has reduced the cumbersome process of manufacturing rotogravure-printing cylinders to a single operator job. While over 200 cylinders are manufactured per day using the conventional process at Uflex, through the robotic laser engraving line spread in approximately 1/10th of the entire cylinder manufacturing shop floor area at Noida, a single operator can produce additional 60 cylinders per day. Flex Middle East FZE, UAE; UFlex Europe Limited, UK; UFlex Packaging Inc., USA; UPET Holdings Ltd., Mauritius; UTech Developers Limited, India and USC Holograms Pvt. Ltd., India are Subsidiary Companies u/s 2(87) of the Companies Act, 2013. Digicyl Pte. Limited, Singapore has been incorporated as Wholly Owned Subsidiary of the Company during the year 2018. Further, UPET (Singapore) Pte. Ltd., Singapore; Flex Americas, S.A. de C.V., Mexico; Flex P Films (Egypt) S.A.E, Egypt; Flex Films Europa Sp.zo.o., Poland; Flex Films (USA) Inc.; and SD Buildwell Pvt. Ltd. are step-down subsidiaries of the Company. Refex Energy (Rajasthan) P Ltd and Bundelkhand Projects Pvt. Ltd ceased to be step Subsidiaries of the Company w.e.f. 31st May 2017. In the fiscal 2020-21, the company's subsidiary Flex Films Egypt, undertook a brownfield expansion in Egypt with the commissioning of another 10.4 mt wide BOPP line. Its subsidiary re-commissioned BOPET lines from UAE to new Russian plant, situated in Stupino district in Moscow region for catering to Russia & CIS markets. It added capacities of BOPET lines through its subsidiary in Poland, Nigeria and Hungary. In FY'21, the Company developed a host of innovative solutions like six-layered N95 mask to prevent COVID spread, FLEXITUBES in 30-200 ml size range to pack sanitizers, Flex Protect Coverall jointly developed with IIT Delhi & approved by DRDO, easy tear structure for single-dose sanitizers and alcohol-based dual purpose sanitizer During the year 2023, the Company commissioned a BOPET film plant and a CPP film plant at Dharwad, Karnataka, with a capacity of 45,000 MT per annum and 18,000 MT per annum respectively, and a CPP film plant at Dubai with a capacity of 18,000 MT per annum. In addition, it set up a PCR line in Mexico to reprocess post-consumer PET bottles and manufacture polyester (PCR) chips. During year 2022-23, Flex Americas S.A. De C.V., Mexico , Flex P. Films (Egypt) S.A.E, Arab Republic of Egypt, Flex Films (USA) Inc. , USA, Flex Films Europa Sp. Zo.o., Poland, UPET (Singapore) Pte. Limited, Singapore, Flex Films Africa Private Limited, Nigeria, Flex Films Rus, LLC, Russia, Flex Specialty Chemicals (Egypt) S.A.E., Egypt, Flex Foils Bangladesh Private Limited, Bangladesh, Flex Films Europa Korlatolt Feleossegu Tarsasag, Hungary, Flex Pet (Egypt) S.A.E., Egypt were incorporated as subsidiaries of the Company effective from 21st November, 2022. Plasticfix Europa Spolka Z Organiczona Odpowiedzialnoscia, Poland became the step-down subsidiaries of the Company effective from 14th October, 2022. Flex Americas Brasil Ltda, Brazil was incorporated as a step-down Subsidiary w.e.f. 4th April, 2023 and Uflex Woven Bags, S.A. DE C.V., Mexico incorporated as step-down Subsidiary w.e.f. 26th April, 2023. Digicyl Pte. Limited, Singapore and Digicyl Limited, Israel were made as Joint Ventures of the Company. During year 2022-23, the Company launched a fully recyclable spout pouch using BOPP (Biaxially Oriented Polypropylene)/PE films. It launched a machine in Q3, 2022, called LPFS-4U or 4 UP Linear, Pick, Fill, and Seal that guarantees speed, performance, safety, and hygiene. The Company commissioned a Cast Polypropylene (CPP) Film Line at its existing facility in the UAE and a greenfield project in Dharwad, Karnataka, with an installed capacity of 18,000 metric tons per annum (MTPA) in 2024. In FY 2025, Company commissioned a virgin PET chips plant in Egypt to boost the regional supply. It further commissioned a CPP Films Line with barrier metallisation in Mexico.