Our endeavour is to enhance Stakeholders' Value - Uflex Ltd.

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DIRECTOR’S UPET HOLDINGS REPORT LIMITED UFLEX LIMITED NOTES TO THE FINANCIAL STATEMENTS - 31 MARCH 2009 (Contd.) (iv) Market risk Market risk represents the potential loss that can be caused by a change in the market value of fi nancial instruments. The Company’s exposure to market risk is determined by a number of factors, including interest rates, foreign currency exchange rates and market volatility. The Company conducts its investment operations in a manner that seeks to exploit the potential gains in the market, while limiting its exposure to market declines. (v) Concentration of risk The Company holds investments in India, which involve certain consideration and risks not typically associated with investments in other developed countries. Future economic and political developments in India could aff ect the values of the investments. 10 CAPITAL RISK MANAGEMENT The Company’s objectives when managing capital are to safeguard the Company’s ability to continue as a going concern in order to provide returns for shareholders and benefi ts for other stakeholders and to maintain an optimal capital structure to reduce the cost of capital. The Company actively and regularly reviews and manages its capital structure to maintain a balance between the higher shareholders returns that might be possible with higher levels of borrowings and the advantages and security aff orded by a sound capital position, and makes adjustments to the capital structure in light of changes in economic conditions. In order to maintain or adjust the capital structure, the Company may adjust the amount of dividends paid to shareholders, return capital to shareholders, issue new shares or sell assets to reduce debt. 11 COMPARATIVES There are no comparatives as these are the fi rst fi nancial statements prepared by the Company since its incorporation in the Republic of Mauritius on 10 April 2008. 12 HOLDING COMPANY The directors consider UFLEX Limited, a company incorporated in India as the holding company. 13 FUNCTIONAL AND PRESENTATION CURRENCY Items included in the fi nancial statements of the Company are measured using the currency of the primary economic environment in which it operates (the “functional currency”). The fi nancial statements are presented in United States dollar (“USD”), which is the functional and presentation currency of the Company. | 110 | TWENTIETH ANNUAL REPORT 2008 - 2009
DIRECTOR’S UPET (SINGAPORE) REPORTPTE LTD (Incorporated in the Republic of Singapore) DIRECTORS’ REPORT For the Financial period from 30 May, 2008 (date of incorporation) to 31 March, 2009. UFLEX LIMITED The Directors present their report to the members together with the audited fi nancial statements of the company for the fi nancial period from 30 May, 2008 (date of incorporation) to 31 March, 2009. Directors: The directors of the Company in offi ce at the date of this report are:- JAIN RAVINDER KUMAR DINESH PANDEY AJAY KRISHNA Arrangements to enable directors to acquire shares or debentures: Neither at the end of nor at any time during the fi nancial period was the company a party to any arrangement whose object is to enable the directors of the company to acquire benefi ts by means of the acquisition of shares or debentures of the company or any other body corporate. Directors’ Interest in Shares or Debentures: None of the directors, who held offi ce at the end of the fi nancial period, had, according to the register of the directors’ shareholdings required to be kept under section 164 of the Companies Act, hold an interest or deemed to have an interest in shares of the company. Directors’ contractual benefi ts: During the period, no director has received or become entitled to receive a benefi t by reason of a contract made by the company or by a related corporation with the director or with a fi rm of which he is a member or with a company in which he has a substantial fi nancial interest other than those disclosed in the fi nancial statements. Options granted : During the period, there were no options to take up unissued shares of the Company. Options exercised: During the period, no shares have been issued by virtue of the exercise of options granted. Impendent Auditors: The Auditors, M/s MGI N Rajan Associates have expressed their willingness to accept re-appointment. On behalf of the board of directors, JAIN RAVINDER KUMAR AJAY KRISHNA Dated: 4 th July, 2009 STATEMENT BY DIRECTORS For the Financial Period from 30 May, 2008 (date of incorporation) to 31 March, 2009. In the opinion of the directors, the accompanying balance sheet, income statement, statement of changes in equity and cash fl ow statement together with the notes thereon, are drawn up in accordance with and comply with the Singapore Financial Reporting Standards so as to give a true and fair view of the state of aff airs of the company as at 31 March 2009 and of the results of the business, changes in equity and cash fl ows of the company for the fi nancial period from 30 May, 2008 (date of incorporation) to 31 March, 2009; and at the date of this statement there are reasonable grounds to believe that the company will be able to pay its debts as and when they fall due. On behalf of the board of directors, JAIN RAVINDER KUMAR AJAY KRISHNA Dated: 4 th July, 2009 TWENTIETH ANNUAL REPORT 2008 - 2009 | 111 | S U B S I D I A R I E S
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Stone Laying Ceremony - Egypt Plant
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Our vision is to create total fl ex
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The Company has reaffirmed its conv
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CORPORATE INFORMATION UFLEX LIMITED
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Key People Shri Pradeep Tyle Sr. Pr
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DIRECTOR’S REPORT | 2 | UFLEX LIM
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DIRECTOR’S REPORT 3. Future plan
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UFLEX LIMITED MANAGEMENT DISCUSSION
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Our endeavour is to enhance Stakeholders' Value - Uflex Ltd.

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