Uflex Limited has announced the resignation of Mr. Sameet Gambhir, Senior Vice President (Legal), from his position as Senior Management Personnel. The resignation becomes effective after close of office hours on February 27, 2026, with the management accepting his decision to step down due to personal reasons.

Regulatory Disclosure Details

The company has fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement was made to both the National Stock Exchange of India Limited and BSE Limited, providing comprehensive details about the senior management change.

Resignation Process

Mr. Gambhir submitted his resignation letter dated February 17, 2026, requesting relief from his duties by February 27, 2026. In his resignation letter addressed to the Chairman & Managing Director, he expressed gratitude for the opportunity to work with the organization and extended best wishes for future endeavors.

Compliance Framework

The disclosure includes all mandatory details as required under Regulation 30 of the Listing Regulations, 2015, read with Schedule III, Part A Para A clause 7 and SEBI Master Circular dated November 11, 2024. The company has provided both the regulatory disclosure format and the original resignation letter as supporting documentation.

Corporate Communication

The announcement was signed by Ritesh Chaudhry, Sr. Vice President - Secretarial & Company Secretary, ensuring proper corporate governance protocols were followed. The digital signature was applied on February 27, 2026, confirming the authenticity of the disclosure to stock exchanges.

UFlex Limited reported challenging Q3 FY26 results as the company navigated through significant macroeconomic headwinds, including US tariff-related uncertainties and domestic GST transition impacts. Despite these challenges, the packaging solutions leader demonstrated operational resilience with margin expansion and maintained its strategic focus on long-term value creation.

Financial Performance Overview

The company's Q3 FY26 performance reflected the impact of external market pressures across its key business segments.

For the nine-month period ended December 2025, UFlex achieved revenue of Rs 114,157 million, representing a modest 0.8% year-on-year growth. The company's profit after tax showed a remarkable turnaround, swinging to Rs 1.21 billion from a loss of Rs 263 million in the corresponding period last year.

Operational Challenges and Market Dynamics

The quarter was marked by two significant macroeconomic events that impacted performance. US tariff-related uncertainties created supply chain disruptions, leading to reorientation of exports to non-US markets and subsequent pricing pressures in Europe and Middle East North Africa regions. Simultaneously, the domestic GST rationalization process affected Indian operations, contributing to volume softness across packaging films business.

Despite these headwinds, management reported signs of market stabilization by quarter-end, with BOPET film prices recovering to approximately Rs 110 per kg from lows of Rs 90 per kg, while BOPP film prices improved to Rs 120-121 per kg for NTT grades.

Aseptic Packaging Business Momentum

The aseptic liquid packaging segment demonstrated steady growth trajectory amid challenging market conditions.

Management expects the business to achieve approximately 8.5 billion packs for the full fiscal year, with Q4 and Q1 being seasonally stronger quarters for the segment.

Capacity Expansion and Strategic Projects

UFlex is nearing completion of three major strategic projects that are expected to drive future growth:

• Egypt Aseptic Facility: 12 billion packs capacity expansion with remaining capex of Rs 350 crore
• India Recycling Plant: 40,000 tons capacity at Noida with Rs 110-120 crore remaining investment
• Mexico Woven Polypropylene: 80 billion bag production capacity

These projects are expected to commission between the current quarter and Q1 FY27, with management projecting incremental revenue of Rs 2,000-2,500 crore at full capacity utilization with high-teens margins.

Capacity Utilization and Geographic Performance

The company's PET resins plants showed mixed utilization levels during the quarter. The Egypt plant operated at 45-46% capacity utilization in Q3, while achieving 57.8% for the nine-month period. The Panipat plant in India recorded 68% utilization for the quarter and 79% for nine months.

Europe operations, particularly Poland and Hungary, experienced lower utilization due to supply disruptions from US market uncertainties, though management expects normalization as trade conditions stabilize.

Financial Outlook and Debt Management

With current maturities of Rs 1,450-1,500 crore for the next financial year and remaining capex requirements of approximately Rs 1,200 crore, management expects debt levels to plateau at current levels. The blended cost of funds stands at approximately 7%, with plans underway to optimize funding costs further.

Management maintains FY26 guidance of EBITDA margins around 12% and total EBITDA of Rs 1,800-1,850 crore, expressing confidence in Q4 performance improvement as market conditions normalize and new capacity contributions materialize in FY27.