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UFlex's Q2 saw flat revenue/EBITDA, but H1 sales climbed 3%, EBITDA 4%, and PAT surged 150%. Record aseptic packaging volumes in H1, with new capacity ready from January. A new BOPP film line and PET recycling plant by March were announced. Management revised FY26 revenue growth to 5% and EBITDA to ₹1,800-1,850 Cr, citing Q2 headwinds from imports and GST. BOPP margins are strong at 30%, BOPET 20%. Debt is projected to reduce by ₹500 Cr by FY27, targeting 2.8x-3x debt-to-EBITDA. Management anticipates growth from new capacities and improving markets.