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

SCHEDULES
7. DEPRECIATION
UFLEX LIMITED
i) Normal depreciation on all fi xed assets, except land and extra shift depreciation on specifi c plant & machineries for the
period of extra shift worked, are provided from the date of put to use for commercial production on straight line method
at the rates prescribed in Schedule-XIV to the Companies Act, 1956.
ii) No depreciation is provided on leasehold land.
iii) Depreciation on additions / deletions to fi xed assets is provided on pro-rata basis from / to the date of additions/
deletions.
iv) In case the fi nancial year consists of the period less / more than the normal period of 12 months, depreciation on fi xed
assets existing at the beginning of the fi nancial year as well as those acquired during the said period are provided for the
period covered on pro-rata basis.
v) Depreciation on additions / deletions to the fi xed assets due to eligible foreign exchange fl uctuations is provided on prorata
basis from the date of additions / deletions.
8. TURNOVER
i) Gross sales are inclusive of inter-unit sale value and excise duty/cess recoveries and sales tax.
ii) Sales returns / rate diff erence are adjusted from the sales of the year in which the returns take place / rate diff erence
accepted.
iii) Gross job work is inclusive of inter-unit job work value and excise duty/cess recoveries.
9. PURCHASES
i) Purchases are inclusive of inter-unit purchase value and net of CENVAT credits and materials consumed during trial run.
ii) Purchases returns / rebates are adjusted from the purchases of the year in which the returns take place / rebates allowed.
10. INVESTMENTS
i. 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.
ii. Short term investments are valued at cost or market price, whichever is lower.
11. EMPLOYEE BENEFITS
i. Defi ned Long Term benefi t (other than leave encashment) is recognized at the present value of the amounts payable
determined using actuarial valuation techniques. Actuarial gain and losses in respect of post employment and other long
term benefi ts are charged to Profi t & Loss Account.
ii. Defi ned long term benefi ts in respect of leave encashment is charged to profi t & loss account based on the leave
entitlement of employees remaining unutilised at the end of the year , at the undiscounted amount.
iii. Defi ned Contribution Plans are charged to profi t & loss account based on the contribution made to the specifi ed fund.
iv. Short term employee benefi ts are charged to Profi t & Loss Account at the undiscounted amount in the year in which the
related service is rendered.
12. CLAIMS BY / AGAINST THE COMPANY
Claims by / against the Company arising on any account are provided in the accounts on receipts / acceptances.
13. BORROWING COST
Borrowing cost attributable to the acquisition or construction of qualifying /eligible assets till put to use for commercial
production 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.
14. 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.
TWENTIETH ANNUAL REPORT 2008 - 2009
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C O M P A N Y