Uflex Ltd

- No new equity raising is planned at the company level due to the current promoter family shareholding structure. - Equity fundraising might be possible at the subsidiary level but is considered a distant possibility and not imminent. - Additional debt of around Rs. 950 crores is expected in FY'27 to complete ongoing projects. - About Rs. 1,500 crores of existing debt will be repaid by March FY'27, resulting in a net reduction of Rs. 500 crores in debt. - The company aims to reduce net debt from approx. Rs. 7,750 crores currently to around Rs. 7,300 crores by FY'27. - Debt-to-EBITDA ratio is expected to be around 2.8x to 3x considering EBITDA growth and current debt levels. - The company was exploring listing about three years ago but market conditions and business performance did not support equity raising at that time.

- UFLEX is setting up a new BOPP film line at Dharwad with a capacity of 54,000 tons per year, as part of an agreement with the state government involving tax concessions. - Four projects are in advanced stages, with expected commissioning by Q1 FY'27: India aseptic facility (already commissioned), PET recycling plant in Noida (expected operational by March 2026), WPP project, and aseptic facility in Egypt. - Additional capital expenditure of approximately Rs. 950 crores is expected by FY'27 to complete ongoing projects. - Management highlighted the possibility of investments in the next couple of years but prefers using cash on the balance sheet rather than raising further debt. - New capacities in BOPP and BOPET films are expected by FY'27 and FY'28 respectively, with 1 lakh TPA BOPP capacity coming in FY'27. - No immediate plans for equity raising at the parent company level; possibility at subsidiary level exists but not soon.

- For FY'26, revenue growth is revised to around 5% with EBITDA expected between Rs. 1,800 to 1,850 crores, slightly better than FY'25's EBITDA of ~Rs. 1,700 crores. - FY'27 outlook suggests a clearer picture once new projects get commissioned, with potential 10% revenue growth depending on project timelines. - New capacities (BOPP lines by 2027, BOPET plant by 2028) are expected to support growth despite concerns of overcapacity. - EBITDA expected to improve substantially in FY'27 and beyond due to commissioning of new plants (PET recycling, aseptic facilities in Egypt and Mexico, WPP plant). - Debt reduction plan targets Rs. 500 crore repayment by FY'27, with net debt-to-EBITDA ratio around 2.8-3x post new investments. - The company is focusing on staying relevant and capturing long-term gains by timely capacity expansion despite short-term market cycles.

The transcript from the Q2 and H1 FY26 earnings call on November 14, 2025, does not explicitly mention the current or expected orderbook or pending orders of UFLEX Limited. However, some relevant points include: - New capacities and expansion plans are underway, such as a BOPP film line at Dharwad expected by FY'28. - Three other projects including a PET recycling plant in Noida are advanced but with some potential commissioning delays. - Demand outlook remains positive with expected revenue growth revision to ~5% for FY26 and 10% growth anticipated next year. - Seasonality impacts certain product lines like liquid packaging. - No direct references to orderbook size or pending orders were made during the Q&A. Hence, no specific quantitative orderbook or pending order details were provided in the transcript.

- The company expects around 5% revenue growth for the full FY'26 year, revised down from an earlier 10% projection. - For FY'27, a 10% growth in revenue is anticipated, contingent on timely commissioning of new projects. - Sales volume for H1 FY'26 was 5.4% higher compared to the previous year. - Aseptic packaging units recorded highest-ever volumes during H1 FY'26 with 5.5% YOY growth. - New packaging film line at Dharwad (BOPP facility, 54,000 TPA) and three other projects (PET recycling in Noida, WPP and aseptic in Egypt and Mexico) expected to drive growth. - Full year EBITDA is expected between Rs. 1,800 to 1,850 crores for FY'26, slightly better than last year. - Growth and margin improvements expected as new capacities come online, mainly in FY'27 and beyond. - Seasonality impacts volumes, with higher utilization expected during peak seasons from January to August.