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

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DIRECTOR’S UFLEX PACKAGING, REPORT INC. | 78 | 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
DIRECTOR’S UFLEX PACKAGING, REPORT INC. STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED MARCH 31, 2009 UFLEX LIMITED 2009 2008 $ Rs in Lacs $ Rs in Lacs Cash fl ows from operating activities Net profi t Adjustment to reconcile net profi t to net cash provided by operating activities: 9,593 4.87 881 0.45 Depreciation Changes in assets and liabilities 8,143 4.13 2,725 1.38 (Increase) / Decrease in accounts receivable (1,314,949) (667.07) (432,923) (219.62) (Increase) / Decrease in inventory (2,336,584) (1,185.35) (650,542) (330.02) (Increase) / Decrease in Advances & Pre-paids (9,250) (4.69) (11,675) (5.92) Increase / (Decrease) in accounts payable 3,486,800 1,768.85 867,179 439.92 Increase / (Decrease) in Loans & Advances 115,875 58.78 234,125 118.77 Increase / (Decrease) in other Current Liabilities 8,593 4.36 18,127 9.20 Increase / (Decrease) in Income tax provision 2,121 1.08 1,379 0.70 Total adjustments (39,251) (19.91) 28,395 14.41 Net cash provided by operating activities Cash fl ows from Financing activities: (29,658) (15.04) 29,276 14.86 Capital – – 100,000 50.73 Loan – – – – Net cash from fi nancing Activities Cash fl ows from investing activities: – – 100,000 50.73 Capital expenditure (37,283) (18.91) (13,627) (6.91) Net cash used in investing activities (37,283) (18.91) (13,627) (6.91) Net increase / (decrease) in cash (66,941) (33.95) 115,649 58.68 Cash and cash equivalents at the beginning of the year 115,649 58.67 – – Cash and cash equivalents at the end of the year 48,708 24.71 115,649 58.67 STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY AS OF MARCH 31, 2009 Common stock Retained earnings Dividends Total stockholders’ equity Amount Shares $ Rs. in lacs $ Rs. in lacs $ Rs. in lacs $ Rs. in lacs Authorized 25,000 shares of Common Stock @$10/- par value Issued & Outstanding, 10000 shares of Common Stock @$10/- par value 10,000 100,000 50.73 881 0.45 – – 100,881 51.18 Net income, year ended March 31, 2009 – – – 9,593 4.87 – – 9,593 4.87 Balance as of March 31, 2009 10,000 100,000 50.73 10,474 5.32 – – 110,474 56.05 TWENTIETH ANNUAL REPORT 2008 - 2009 | 79 | S U B S I D I A R I E S
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Stone Laying Ceremony - Egypt Plant
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Our vision is to create total fl ex
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The Company has reaffirmed its conv
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CORPORATE INFORMATION UFLEX LIMITED
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Key People Shri Pradeep Tyle Sr. Pr
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DIRECTOR’S REPORT | 2 | UFLEX LIM
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DIRECTOR’S REPORT Sl. No. | 4 | U
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DIRECTOR’S REPORT 3. Future plan
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UFLEX LIMITED MANAGEMENT DISCUSSION
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UFLEX LIMITED MANAGEMENT DISCUSSION
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DIRECTOR’S AUDITORS’ REPORT AUD
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BALANCE SHEET | 26 | UFLEX LIMITED
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DIRECTOR’S AKC DEVELOPERS REPORT
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