Uflex Ltd Reports Q2 FY26 Earnings: Steady Revenue, Improved Earnings Amid GST, Tariff Overhang
Uflex Ltd, India's largest integrated flexible packaging and solutions company, reported second quarter fiscal 2026 unaudited consolidated net revenue of Rs.38,610 million. The company's normalized EBITDA for the quarter was Rs.3,895 million, and normalized EBITDA margin was 10.1%. Net profit after non-controlling interest for the quarter was Rs.269 million. The quarter faced several headwinds, including the U.S. imposition of reciprocal and secondary tariffs, heightened geopolitical tensions, transitional challenges following the rollout of India’s new GST framework, and an elongated rainy season. UFlex’s diversified manufacturing footprint and the USMCA agreement helped navigate these challenges. The packaging business segment reported flat sales volume growth YoY but increased sales volume by 5.8% in H1 FY26. The long-term outlook for the packaging business remains robust, with the Government’s implementation of the revised GST framework expected to improve market efficiency and stimulate consumption in the long term.
Key Highlights
- UFlex reported net profit of Rs.269 million, underpinned by stable revenue during Q2 FY26.
- Normalized EBITDA for the quarter was Rs.3,895 million with a margin of 10.1%.
- H1 FY26 net profit of Rs.849 million along with steady revenue growth of 3.2% YoY.
- Packaging business reported flat sales volume growth YoY but increased sales volume by 5.8% in H1 FY26.
- Government’s implementation of the revised GST framework expected to improve market efficiency and stimulate consumption in the long term.