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

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UFLEX LIMITED DIRECTOR’S U TECH DEVELOPERS REPORT LIMITED v) In respect of assets acquired on amalgamation, depreciation is provided on the net value to the company at the time of amalgamation. vi) Depreciation on additions / deletions to the fi xed assets due to foreign exchange fl uctuations is provided on pro-rata basis from the date of additions / deletions. 6. REVENUE RECOGNITION Revenue on sale of property is recognised on transferring the signifi cant risks and rewards of ownership and the sale consideration is determined through agreement of sale or registration of sale deed as per Accounting Standard- 9, Revenue Recognition. However, in case where the seller is obligated to perform any substantial acts after the transfer of all signifi cant risks and rewards of ownership, revenue is recognised on proportionate basis as the acts are progressively performed, by applying the percentage of completion method as explained in Accounting Standard-7 (revised 2002), Construction Contracts. 7. INVESTMENTS Long term investments are valued at their cost including brokerage, fees and duty. However, if there is decline in value of investment, other than temporary, the carrying amount of investment is reduced recognizing the decline in value of each investment. 8. EMPLOYEE BENEFITS i) Gratuity is provided as per the provisions of payment of Gratuity Act, 1972 with vesting period of 5 years of service. ii) Leave encashment is provided on the basis of leave entitlement of employees remaining unutilised at the end of the year. 9. BORROWING COST Borrowing cost attributable to the acquisition or construction of qualifying /eligible assets are capitalised as part of the cost of such assets. A qualifying /eligible asset is an asset that necessarily takes a substantial period of time to get ready for intended use. All other borrowing costs are recognized as an expense and are charged to revenue in the year in which they are incurred. 10. EARNING PER SHARE In accordance with the Accounting Standard-20 (AS-20) “Earning Per Share” issued by The Institute of Chartered Accountants of India, Basic & Diluted Earning Per Share is computed using the weighted average number of Shares outstanding during the period. 11. DEFERRED TAX ASSETS / LIABILITIES Deferred tax assets & liabilities are measured using the current tax rates. When there is unabsorbed depreciation or carry forward of losses, Deferred tax assets are recognised only to the extent that there is virtual certainty of realisation of deferred tax assets. Other deferred tax assets are recognised to the extent, there is reasonable certainty of realisation of deferred tax assets. Such deferred tax assets & other unrecognised deferred tax assets are re-assessed at each Balance Sheet date and the carrying value of the same are adjusted recognising the change in the value of each such deferred tax assets. 12. IMPAIRMENT Management periodically assesses using external and internal sources whether there is an indication that assets of concerned cash generating unit may be impaired. Impairment loss, if any, is provided as per Accounting Standard (AS-28) on Impairment of Assets. 13. PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS In accordance with the Accounting Standard AS– 29 issued by Institute of Chartered Accountants of India a) provisions are made for the present obligations where amount can be estimated reliably, and b) contingent liabilities are disclosed for possible obligations arising out of uncertain events not wholly in control of the company. Contingent assets are neither recognised nor disclosed in the fi nancial statements. 14. INTANGIBLE ASSETS Customised or separately purchased software is classifi ed as intangible assets at their cost and amortised over a period of fi ve years from date of put to use. 15. CLAIMS BY / AGAINST THE COMPANY Claims by / against the Company arising on any account are provided in the accounts on receipts / acceptances. | 142 | TWENTIETH ANNUAL REPORT 2008 - 2009
DIRECTOR’S U TECH DEVELOPERS REPORT LIMITED B. NOTES TO ACCOUNTS 1. There are no dues to micro, small and medium enterprises as at March 31, 2009. UFLEX LIMITED 2. The following table sets out the status of the gratuity and leave encashment and the amounts recognised in the Company’s fi nancial statements as at 31st March,2009. Particulars Gratuity (Non-Funded) As on 31st March,2009 (Rupees) Leave Encashment (Non-Funded) As on 31 st March,2009 (Rupees) Liability at the beginning of the year 124620 282805 Current Year Provision 183001 (96115) Liability at the end of the year 307621 186690 3. Payments to auditors (on accrual basis) Particulars Year Ended March 31, 2009 (Rupees) Year ended March 31, 2008 (Rupees) a) Statutory Audit fees 44,120 28,090 b) Tax Audit Fee – 16,854 Total 44,120 44,944 4. In accordance with Accounting Standard (AS 22) “Accounting for Taxes on Income” issued by the ICAI, the company has accounted for Deferred Taxes during the year. Following are the major components of deferred tax assets/ (liabilities) : Particulars Deferred Tax Asset/Liabilities As at 01-04-2008 Current year (Charges)/Credit Deferred Tax Asset/Liabilities As at 31-03-2009 A. Deferred Tax Assets Unabsorbed Depreciation as per Income tax Act - 211,000 211,000 Carry Forward Business Losses as per Income tax Act - 23,907,000 23,907,000 Others 2,099,000 (548,000) 1,551,000 Total (A) B. Deferred Tax Liabilities 2,099,000 23,570,000 25,669,000 Excess of Book WDV of Fixed Asset Over Income Tax WDV of Fixed Assets 210,000 107,000 317,000 Others - - - Total (B) 210,000 107,000 317,000 Net Deferred Tax Assets/Liabilities (A-B) 1,889,000 23,463,000 25,352,000 5. Earnings per Share (EPS) Particulars Year Ended March 31, 2009 Year ended March 31, 2008 Net (Loss)/ Profi t for the year (47,248,830) 117,453,438 Weighted average number of Equity Shares of Rupees 10 each outstanding during the year 100,000,000 100,000,000 Basic and Diluted Earnings Per Share (in Rupees) (.47) 1.17 6. Related Party Disclosures List of Related Parties and Relationship i. Holding Company UFlex Limited TWENTIETH ANNUAL REPORT 2008 - 2009 | 143 | 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 Sl. No. | 4 | U
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DIRECTOR’S REPORT 3. Future plan
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UFLEX LIMITED MANAGEMENT DISCUSSION
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UFLEX LIMITED MANAGEMENT DISCUSSION
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DIRECTOR’S FLEX AMERICA REPORT IN
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DIRECTOR’S UFLEX PACKAGING, REPOR
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DIRECTOR’S FLEX MIDDLE REPORT EAS
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Our endeavour is to enhance Stakeholders' Value - Uflex Ltd.

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