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

DIRECTOR’S UFLEX PACKAGING, REPORT INC.
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UFLEX LIMITED
BALANCE SHEETS AS OF MARCH 31, 2009 AND MARCH 31, 2008
2009 2008
$ Rs in Lacs $ Rs in Lacs
ASSETS
Current assets:
Cash 48,708 24.71 115,649 58.67
Accounts receivable 1,747,872 886.70 432,923 219.62
Inventory 2,987,126 1,515.37 650,542 330.02
Prepaid Expense – – 4,250 2.16
Loan 13,500 6.85 – –
Total current assets 4,797,206 2,433.63 1,203,364 610.47
Fixed assets - net 40,042 20.31 10,902 5.53
Security Deposit 7,425 3.77 7,425 3.77
TOTAL ASSETS
LIABILITIES AND SHAREHOLDER'S EQUITY
Current liabilities:
4,844,673 2,457.71 1,221,691 619.77
Accounts payable 4,353,979 2,208.77 867,179 439.92
Accrued Expenses 25,463 12.92 4,500 2.28
Customer Advances 350,000 177.56 234,125 118.77
Loan Payable – – 13,627 6.91
Provision for Taxes 3,500 1.78 1,379 0.70
Other Current Liabilities 1,257 0.64 – –
Total current liabilities 4,734,199 2,401.67 1,120,810 568.58
Total current and long-term liabilities
Shareholder's equity and retained earnings:
4,734,199 2,401.67 1,120,810 568.58
Authorized 25,000 shares of Common Stock @10/- par value
Issued and Outstanding, 10,000 shares @10/- par value
100,000 50.73 100,000 50.73
Retained earnings 881 0.45 – –
Net Income 9,593 4.87 881 0.45
Total shareholder's equity 110,474 56.05 100,881 51.18
TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY 4,844,673 2,457.72 1,221,691 619.76
STATEMENTS OF INCOME FOR THE YEARS ENDED MARCH 31,
2009 2008
$ Rs in Lacs $ Rs in Lacs
Net revenue 8,029,401 4,073.32 479,210 243.10
Cost of revenue 7,723,305 3,918.03 418,930 212.52
Gross profi t
Operating expenses:
306,096 155.29 60,280 30.58
General Administrative expenses 286,094 145.14 56,169 28.49
Depreciation & Amortization 8,143 4.13 2,725 1.38
Total Operating Expenses 294,237 149.27 58,894 29.87
Net Operating Income 11,859 6.02 1,386 0.71
Taxes
Other Income:
3,500 1.78 1,379 0.70
Interest income 1,234 0.63 874 0.44
Total Income
(See Independent Auditors’ report and notes to fi nancial statements)
9,593 4.87 881 0.45
All fi gures have been converted by using the rate of Rs. 50.73/ 1 US$ as on 31/03/2009.
TWENTIETH ANNUAL REPORT 2008 - 2009