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

The Company has reaffirmed
its conviction in the sustained
growth potential of its various
business by reporting a healthy
financial performance for the
year 2008-2009, despite the
perilous impact of a global
slowdown.
Chairman’s statement
Ladies and Gentlemen,
I have great pleasure in welcoming you to the 20 th Annual General
Meeting of your Company and sharing with you the highlights of
another year of great achievement.
Economic Environment
The year gone by witnessed unprecedented global economic and
business turbulence. The suddenness and severity of the global
fi nancial crisis caught everybody by surprise. Though Governments
across continents have responded speedily and in rare unison, the path
to recovery is expected to be long and arduous. Indian economy was
also not immune to this shock. While at the macro level, our country has
displayed remarkable resilience sustaining relatively high growth rates,
yet several sectors have been adversely impacted. The fi rst green sign
of revival have started to emerge and the world appears less pessimistic
about the future.
As per IMF’s latest forecast, the global economy is beginning to pull
out of recession and global economic growth during 2010 is projected
at 2.5% against a negative growth rate of 1.4% in 2009. The survey of
professional forecasters conducted in backdrop of the fi rst quarter
review of the monetary policy by the Reserve Bank of India, indicates
that the Indian economy is projected to grow by 6% to 6.5% during
the current fi nancial year. India’s strong domestic consumption and
investment drives will continue to support healthy rates of growth over
the medium term.
Financial Performance
The Company has reaffi rmed its conviction in the sustained growth
potential of its various business by reporting a healthy fi nancial
performance for the year 2008-2009, despite the perilous impact of a
global slowdown. While the Company’s plastic fi lm business and fl exible
packaging business improved their performance over the previous year,
the fl exible packaging machinery business had to bear some impact of the
downturn. Overall, this fi scal year, while the net revenue of your Company
on consolidated basis surpassed the previous year by 24.50%, the net
profi t has grown 69%. The Company achieved on consolidated basis, total
net revenues of Rs.2160 crores and net profi t of Rs.186 crores including