Small-cap stock jumps after it commissions its recycling plant in Egypt

The shares of this flexible packaging products manufacturer gained up to 1.7 percent after the company commissioned its post-consumer recycling (PCR) Plant in Egypt having installed a capacity of 18000 MT per year. 

With a market capitalization of Rs 3,519.59, the shares of Uflex Ltd. were trading at Rs 487.05 per share, increasing around 0.07 percent as compared to the previous closing price of Rs 486.70 apiece. 

According to the company filing, Flex P. Films (Egypt) S.A.E., a step-down subsidiary of Uflex Ltd has commissioned its post-consumer recycling (PCR) Plant in Egypt which has an installed capacity of 18000 MT per year 

Furthermore, with the establishment of the plant, the step-down subsidiary will recycle post-consumer PET bottles to recycled (rPET) PET flakes and pellets through the use of mechanical recycling technology, which includes sorting, washing, drying, and grinding of PET bottles to produce flakes or pellets for use in PET Film. 

Looking into the company’s financial, Uflex Ltd’s revenue decreased by 10 percent from Rs 3,768 Crore in Q2FY23 to Rs 3,369 Crore in Q2FY24. During the same period, net profits decreased 67 percent from Rs 191 crore to Rs 63 crore.