Our endeavour is to enhance Stakeholders' Value - Uflex Ltd.
Our endeavour is to enhance Stakeholders' Value - Uflex Ltd.
Our endeavour is to enhance Stakeholders' Value - Uflex Ltd.
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DIRECTOR’S FLEX MIDDLE REPORT EAST FZE<br />
5. Investment<br />
| 88 |<br />
UFLEX LIMITED<br />
Th<strong>is</strong> represents amount paid <strong>to</strong> Flex P Films Egypt S.A.E. a wholly owned subsidiary company of the establ<strong>is</strong>hment <strong>to</strong>wards<br />
partial statu<strong>to</strong>ry share capital of the company. The legal formalities for the statu<strong>to</strong>ry share capital are completed during the<br />
current year <strong>to</strong> end 31 March 2010.The subsidiary company <strong>is</strong> in the process of establ<strong>is</strong>hment of BOPP fi lm and related products<br />
manufacturing facilities.<br />
2009<br />
6. Other fi nancial assets<br />
Operating lease<br />
US$ Rs in Lacs<br />
Lease amount paid in advance<br />
Amort<strong>is</strong>ation<br />
546,448 277.21<br />
Up<strong>to</strong> 01.04.2008 45,485 23.07<br />
For the year 22,732 11.53<br />
Up<strong>to</strong> 31.03.2009<br />
Unexpired Portion of Operating Lease<br />
68,217 34.60<br />
As at 31.03.2009 478,231 242.61<br />
As at 31.03.2008 500,963 254.14<br />
2009 2008<br />
US $ Rs in Lacs US $ Rs in Lacs<br />
7 Inven<strong>to</strong>ries<br />
Raw Materials 2,229,271 1,130.91 4,478,187 2,271.79<br />
Materials in transit 558,640 283.40 236,000 119.72<br />
2,787,911 1,414.31 4,714,187 2,391.51<br />
Consumables 41,990 21.30 88,740 45.02<br />
Packing materials 100,855 51.16 38,599 19.58<br />
Work in process 737,983 374.38 943,840 478.81<br />
Fin<strong>is</strong>hed goods 1,207,699 612.67 636,843 323.07<br />
4,876,438 2,473.82 6,422,209 3,257.99<br />
8 Trade and other receivables<br />
Trade receivables (refer note 22)^ @ ~ 27,774,528 14,090.02 29,752,285 15,093.33<br />
Less : Prov<strong>is</strong>ion for doubtful debts -<br />
- (112,910) (57.28)<br />
27,774,528 14,090.02 29,639,375 15,036.05<br />
Due from a related party 3,462,184 1,756.37 - -<br />
Advance <strong>to</strong> suppliers & others 1,949,567 989.02 164,475 83.44<br />
Advance <strong>to</strong> staff 125,192 63.51 101,577 51.53<br />
Deposits 322,288 163.49 348,735 176.92<br />
33,633,759 17,062.41 30,254,162 15,347.94<br />
^Includes US $5,045,646(previous year US $6,657,771) due from related parties<br />
@0-180 days US $26,273,854, > 180 days US $ 1,500,674.<br />
~ Subsequent recovery US $ 20,290,441<br />
9 Cash and bank balances<br />
Cash on hand 72,642 36.85 27,580 13.99<br />
Bank balances in:<br />
Current accounts 3,446,962 1,748.65 2,144,087 1,087.69<br />
Term deposits # 360,655 182.96 237,705 120.59<br />
3,880,259 1,968.46 2,409,372 1,222.27<br />
#Under lien with a bank against letters of guarantee<br />
10 Share Capital<br />
Opening balance 29234973 14,830.90 21311475 10,811.31<br />
Introduced during the year<br />
Closing balance #<br />
-<br />
- 7,923,498 4,019.59<br />
(1 US $ = AED 3.66) # 107 shares of AED I million each.<br />
29,234,973 14,830.90 29,234,973 14,830.90<br />
TWENTIETH ANNUAL REPORT 2008 - 2009
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