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

DIRECTOR’S FLEX AMERICA REPORT INC.
STATEMENT OF OPERATIONS FOR THE YEARS ENDED MARCH 31,
UFLEX LIMITED
2009 2008
$ Rs in Lacs $ Rs in Lacs
NET SALES 19,911,439 10,101.07 16,599,448 8,420.90
Cost of Goods Sold - Schedule 1 18,899,992 9,587.97 15,805,916 8,018.34
GROSS PROFIT 1,011,447 513.10 793,532 402.56
OPERATING EXPENSES
Wages 356,400 180.80 361,016 183.14
Advertising and promotion 21,696 11.01 18,007 9.13
Automobile expenses 4,379 2.22 2,675 1.36
Bank fees 6,330 3.21 8,384 4.25
Inspection and other fees 5,900 2.99 9,767 4.95
Demurrage 31,190 15.82 -
-
Custom clearing charges 25,560 12.97 40,598 20.60
Licenses and fees 21,089 10.70 2,440 1.24
Depreciation expense 13,339 6.77 11,497 5.83
Freight out 27,006 13.70 44,697 22.67
Insurance 46,991 23.84 46,329 23.50
Offi ce expense 21,560 10.94 26,638 13.51
Payroll tax expense 28,928 14.68 27,841 14.12
Professional fees and consultants 57,174 29.00 23,012 11.67
Rent & warehousing (Note D) 42,781 21.70 49,506 25.11
Dues and fees 6,062 3.08 4,678 2.37
Bad debts and damaged goods 108,608 55.10 11,174 5.67
Communication expenses 64,460 32.70 39,341 19.96
Travel expense 53,529 27.16 72,377 36.72
Relocation expense 8,109 4.11 -
-
951,091 482.50 799,977 405.80
INCOME (LOSS) FROM OPERATIONS 60,356 30.60 (6,445) (3.24)
OTHER INCOME
Interest income 4,789 2.43 825 0.42
Gain on sale of equipment -
- 1,500 0.76
Other income 2,636 1.34 2,732 1.39
7,425 3.77 5,057 2.57
INCOME (LOSS) BEFORE PROVISION FOR INCOME TAXES 67,781 34.37 (1,388) (0.67)
PROVISION FOR INCOME TAXES (23,376) (11.86) (4,748) (2.41)
NET INCOME (LOSS)
The accompanying notes are an integral part of these fi nancial statements.
44,405 22.51 (6,136) (3.08)
TWENTIETH ANNUAL REPORT 2008 - 2009
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