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

extra-ordinary income of Rs. 33 crores as against total net
revenues of Rs.1735 crores and net profi t of Rs.110 crores
in the previous year.
It gives me pleasure to mention that your Board of
Directors have recommended dividend of Rs.4/- per
equity share despite the subdued environment in 2008-
2009 in general.
Expansion Projects
While UFLEX enjoys leadership position in the fl exible
packaging in India and has its presence by way of sale of
its products in more than 94 countries, it also aims to be
one among the larger players in the fl exible packaging
segment in the global market. In order to keep the pace of
its fast growth, UFLEX has undertaken and also propose
to undertake many expansion and growth programmes
both within and outside India.
• Successfully commissioned fi rst phase of polyester
fi lm project with 26400 TPA polyester fi lm capacity
at Mexico. The steps for implementation of second
phase have been initiated & the same is expected to
be commissioned by middle of FY 2010-11.
• Setting up the facilities at Egypt for the manufacture
of 35000 TPA of BOPP fi lm in fi rst phase & 30000 TPA
of PET fi lm & 12000 TPA of CPP fi lm in second phase.
The fi rst phase project is expected to be completed by
March, 2010 & second phase project by March, 2011.
• Successfully ventured into Integrated Municipal
Solid Waste (MSW) Processing Projects under joint
venture subsidiary company i.e. M/s. AKC Developers
Limited (JVC). The JVC has so far been awarded MSW
projects under Public Private Partnership (PPP)
Scheme for processing of total 2400 TPD of MSW in
fi ve cities in Northern India. Implementation of the
processing of MSW at Gwalior is near completion
and trial run is expected to commence shortly. All
other projects are expected to be commissioned
during the FY 2010-11.
Corporate Social Responsibilities
In line with its philosophy of social responsibilities,
UFLEX has taken signifi cant initiatives to reduce the
consumption of energy and use “greener” forms of
energy at its factories. Anti-pollution measures help
minimize the impact of industrial process on the
environment.
Future Outlook
While no country is insulated from the impact of the
global meltdown, India’s economy provides relatively
greater stability. The business environment however,
continues to be challenging and we believe that we
are beginning to witness the start of a transformational
phase for UFLEX’s various business as we strengthen our
competitive edge through innovation and productivity
improvements.
Our plastic fi lm business as well as fl exible packaging
business off er good opportunities both in the domestic
market as well as international market.
It is my belief that by embedding larger sustainability
goals in its business strategies, your Company has
consciously invested in the future. A promising future,
by creating competitive and sustainable businesses
of tomorrow that will continue to enhance long-term
Stakeholder Value.
I would like to off er my sincere thanks to our employees
for their outstanding commitment and hard work for
the sustained growth of the Company. I also place my
sincere gratitude for the support of my colleagues,
our customers, business associates, shareholders,
GDR & FCCB holders, Members of the Board, Central
Government, State Governments, Financial Institutions
and Banks.
‘Persistence, belief, action and teamwork will be our tools
to achieve our goals. I know we have all, but all that is
needed is their further implementation in the face of
economic challenges and the victory, am sure, will be
ours.’
With best regards,
Ashok Chaturvedi
Chairman & Managing Director