Dear Members,
 
 The Directors have pleasure in presenting this 13th ANNUAL REPORT
 together with the Audited Accounts of the Company for the year ended on
 31st March 2011.
 
 FINANCIAL RESULTS
 
 The Summery of the financial performance of the Company for the year
 ended 31st March, 2011 compared to the previous year is as below:
 
                                               (Rs. in Lacs)
  
                                         2010-2011           2009-2010
 
 1  Turnover                                607.98             596.19
 
 2  Other Income                              3.55               3.21
 
 3  Total income                            611.53             599.40
 
 4  Profit/(Loss) Before Depreciation, 
    Interest and Tax                        (37.53)             63.58
 
    Less/Add:Interest                        48.84              44.09
 
    Depreciation                             18.56              18.05
 
 5  Profit/(Loss) Before Taxation          (105.03)              1.44
 
 6  Income Tax                                0.00               0.00
 
 7  Profit /(Loss) After Taxation          (105.03)              1.44
 
 8  Prior year''s Expenses                    00.47               0.22
 
 9  Profit(Loss) for the year             (105.50)              1.22
 
 During the year under review there is a marginal increase in the
 turnover to Rs.607.98 lacs from Rs. 596.19 lacs in the previous year
 and it is mainly because of non finalization of orders from Company''s
 customers who are mainly various State Governments and subsidies given
 to farmers in the respective States. Other income has increased
 marginally to Rs. 3.55 lacs from Rs. 3.21 lacs in the previous year.
 
 CURRENT YEAR PERFORMANCE
 
 During the year under review the Company has obtained repeat order
 quantity of 9216 Manually Operated Seed Dressing Drumc worth Rs.299.98
 lacs from Department of Agriculture, Punjab State and the same has been
 supplied as per schedule of delivery and the payment has been received
 against the supply.
 
 DEVELOPMENT OF NEW BUSINESS - GEAR
 
 Based on the proposed business opportunity in the engineering area,
 your company has altered tne object clause by passing necessary
 resolution by postal ballots. The company has also entered into
 preliminary agreement with authorized agent of Before S. A Poland, M/S
 Befared Gears Motors & Controls India Pvt., Ltd., to carry out the
 engineering works. However, since then, there was no response to
 perform the work as describe  in the agreement and consequently, the
 company has not carried out any engineering activity. Whenever, the
 same will be actually confirmed, necessary resolution will be passed to
 commence the new business and declaration will be filed with the
 Registrar of Companies.
 
 SALE OF ASSETS
 
 To reduce the interest burden of inter corporate loan taken by the
 company, your Board recommended to pay the ICD by way of sale of assets
 and accordingly, after your approval by approving the resolution by way
 of postal ballot, the Company has set off the outstanding ICD against
 transfer of the immovable properties of the Company.
 
 DIVIDEND
 
 In view of the continued accumulated losses incurred by the Company in
 previous years your Directors do not recommend dividend on Equity
 Shares for the year ended on 31s March, 2011.
 
 DELISTING FROM AHMEDABAD STOCK EXCHANGE
 
 The Directors are pleased to inform the Shareholders that the Equity
 Shares of the Company are delisted from Ahmadabad Stock Exchange with
 effect from 31s March, 2011. Delisting approval from Jaipur Stock
 Exchange is awaited.
 
 DIRECTORS
 
 Shri Kiritbhai Patel and Shri Arvindbhai Shah, Directors of the
 Company, retire by rotation as per the Articles of Association of the
 Company and they are eligible for re-appointment. Resolutions seeking
 approval of the Shareholders for their re- appointment have been
 incorporated in the Notice of the ensuing Annual General Meeting.
 
 During the year Shri Dikulbhai Patel, Director of the Company tendered
 his resignation from Directorship of the Company and the Board accepted
 the same. The Board deeply appreciated the services rendered by Shri
 Dikulbhai Patel as Director of the Company.
 
 DIRECTORS'' RESPONSIBILITY STATEMENT
 
 Pursuant to Section 217(2AA) of the Companies Act, 1956, the Board of
 Directors of your Company State that:
 
 1.  in the prepare*: *n of the Annual Accounts, the applicable
 accounting standards have been followed along with proper explanation
 relating to material departures;
 
 2.  the Directors have selected such accounting policies and applied
 them consistently and made judgments and estimates that are reasonable
 and prudent so as to give true and fair view of the state of affairs of
 the Company at the end of the financial year and of the profit or loss
 of the Company for that period;
 
 3.  the Directors have taken proper and sufficient care of the
 maintenance of adequate accounting records in accordance with the
 provisions of the Companies Act, 1956 for safeguarding the assets of
 the Company and for preventing and detecting fraud and other
 irregularities;
 
 4.  the Directors have prepared the Annual Accounts on a going concern
 basis.
 
 INSURANCE
 
 The whole of the properties of the Company have been suitably insured
 and your Directors have t3ken care to take all necessary general
 insurances.
 
 FIXED DEPOSITS
 
 The Company has not accepted any deposits from the Public within the
 meaning of Section 58A of the Companies Act, 1956 and Rules made there
 under.
 
 MANAGEMENT DISCUSSION AND ANALYSIS REPORT
 
 A detailed review of the operations, performance and future outlook of
 the Company is given in the Management''s Discussion and Analysis
 appearing as Annexure -1 to this Report.
 
 PARTICULARS OF EMPLOYEES
 
 None ot the employee is in receipt of remuneration in excess cf the
 limits prescribed under Section 2j7 (2A) of the Companies Act, 1956
 read with the Companies (Particulars of Employees) Rules, 1975.
 
 CORPORATE GOVERNANCE REPORT
 
 Your Company has always striven to incorporate standards for Good
 Corporate Governance. It has taken adequate steps to ensure that the
 provisions of Corporate Governance as prescribed pursuant to Clause 49
 of the Listing Agreement with the Stock Exchanges are complied with.
 
 A detailed report on the Corporate Governance is appearing as Annexure
 - 2 to this report.
 
 CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
 EARNINGS AND OUTGO
 
 As required by the Companies (Disclosure of Particulars in the Report
 of Board of Directors) Rules, 1988, the relevant data pertaining to
 Conservation of Energy, Technology Absorption and Foreign Exchange
 Earnings and Outgo are given in Annexure - 3 to this report.
 
 AUDITORS
 
 The Company''s Auditors M/S Mukund & Rohit, Chartered Accountants,
 Vadodara retires at the ensuing Annual General Meeting and being
 eligible offers themselves for re-appointment. The members are
 requested to appoint Statutory Auditors for the current year and fix
 their remuneration.
 
 ACKNOWLEDGEMENT
 
 Your Directors wish to place on record their sincere appreciation for
 the whole-hearted support and the cooperation extended to the Company by
 its Vendors, Traders, Customers, Bankers and Financial Institutions,
 Central and State Government Authorities, Advisors, Auditors,
 Shareholders and the society at large.
 
 Your Directors also place on record their appreciation for the
 contribution and hard work of employees across all levels, including
 sub-vendors and sub-contractors entire teams and their commitment,
 inspiration and hard work to put your Company in its present position.
 
                          ON BEHALF OF THE BOARD OF DIRECTORS
 
 Date: 25,th August, 2011      ATISH PATEL           NAISHADBHAI PATEL
 
 Place: VITHAL UDYOGNAGAR   XECUTIVE DIRECTOR      CHARIMAN & MG DIRECTOR