The Directors have pleasure in presenting the Fourteenth Annual Report
 of the Company together with the audited accounts for the financial
 year ended March 31, 2010.
 
 FINANCIAL RESULTS
 
 The highlights of the financial results of the Company on a standalone
 and on a consolidated basis are as follows:
 
 (Rs. in lakhs)
 
                              Standalone             Consolidated
 
                      Year ended     Year ended    Year ended  Year ended
                      March 31,      March 31,     March 31,   March 31,
                       2010           2009           2010        2009
 
 Income from 
 Operations            9,746.79      6,778.60     11,045.93    7,309.34
 
 Other Income            351.96        304.52        590.23    1,357.60
 
 Expenditure           7,717.17      5,937.47      8,699.17    7,399.84
 
 Profit before Interest 
 Depreciation 
 and Taxation          2,381.58      1,145.65      2,936.99    1,267.10
 
 Less : Interest         261.38        542.73        283.98      558.68
 
 Profit before 
 Depreciation and 
 Taxation              2,120.20        602.92      2,653.01      708.42
 
 Less: Depreciation      567.44        473.14        600.69      504.45
 
 Profit before 
 Taxation              1,552.76        129.78      2,052.32      203.97
 
 Less : Provision for 
 tax including 
 deferred tax            605.06         66.28        783.99       83.35
 
 Profit after Tax        947.70         63.50      1,268.33      120.62
 
 Profit brought forward 
 from previous year    1,261.30      1,197.80      1,193.48    1,072.86
 
 Balance carried to 
 Balance Sheet         2,209.00      1,261.31      2,461.81    1,193.48
 
 FINANCIAL PERFORMANCE
 
 The Financial Year 2009-10 was the first full year of operation of the
 Company since it was acquired by the Aditya Birla Group. During the
 year, the stock market witnessed a smart recovery and sentiment
 remained bullish compared to the previous year. The equity market
 revived with the foreign institutional investors focused on emerging
 markets including India.The Sensex rallied 77% and the Nifty surged
 72%.The movement was in line with the trends in other international
 markets. Against that backdrop, the Company continued its consolidation
 and growth oriented strategies. On a Standalone basis, the Companys
 total income was up by 43% at Rs. 10,098.75 Lakhs compared to Rs.
 7,083.12 Lakhs during the previous year. The Income from Operations
 grew by 44% at Rs 9,746.79 Lakhs, compared to Rs. 6,778.60 Lakhs during
 the previous year. The profit before taxation was also up by 1,096% at
 Rs. 1,552.76 Lakhs compared to Rs. 129.78 Lakhs in the previous
 year.The Companys net profit for the year was Rs. 947.70 Lakhs,
 compared to Rs. 63.50 Lakhs in the previous year, a growth of 1,392%
 over previous year.
 
 On a Consolidated basis, your Companys Income from Operations was up
 by 51% at Rs. 11,045.93 Lakhs, compared to Rs. 7,309.34 Lakhs in the
 previous year.The Consolidated Profit before taxation was Rs. 2,052.32
 Lakhs compared to Rs. 203.97 Lakhs in the previous year, witnessing a
 growth of 906% over previous year.The Consolidated Net Profit was Rs.
 1,268.33 Lakhs compared to Rs. 120.62 Lakhs in the previous year,
 witnessing a growth of 952% over previous year.
 
 DIVIDEND
 
 Considering the future expansion plans and capital requirements, the
 Directors have decided to conserve cash flow and hence have not
 recommended any dividend for the year under review.
 
 CHANGE IN NAME
 
 During the year, the name of your Company was changed to Aditya Birla
 Money Limited vide fresh certificate of incorporation, consequent upon
 change of name, dated August 3,2009, issued by Registrar of Companies,
 Chennai.The new name of the Company reflects the new ownership /
 promoters of the Company.
 
 INTER SE PROMOTER TRANSFER
 
 To enhance focus on the Financial Services business and to bring all
 the Financial Services activities under one single roof, Aditya Birla
 Nuvo Limited, on February 23,2010 transferred its shareholding in the
 Company to Aditya Birla Financial Services Private Limited (ABFSPL) by
 way of inter-se promoter transfer in terms of regulation 3(4) of SEBI
 (Substantial Acquisition of Shares and Takeovers) Regulations, 1997.
 The aforesaid transfer of shares did not result in change in control or
 promoter group of the Company under the SEBI (Substantial Acquisition
 of Shares and Takeovers) Regulations, 1997. With the above change,
 ABFSPL is now the Promoter/ Holding company of your Company .
 
 CREDIT RATING
 
 The Company obtained credit rating of P1+ from CRISIL Limited for its
 short term debt programme. The rating indicates the highest degree of
 safety with regard to timely payment of interest and principal on the
 instrument.
 
 FINANCE
 
 During the year, the Company issued Commercial Papers for an aggregate
 amount of Rs. 40 Crores to meet its working capital requirement. The
 year end outstanding was Rs. 15 Crores.
 
 FIXED DEPOSITS
 
 The Company has not accepted any fixed deposits from the public during
 the year.
 
 SUBSIDIARY COMPANY
 
 The Company has a subsidiary viz. Aditya Birla Commodities Broking
 Limited (ABCBL), which is engaged in commodity trading. The name of
 this Company was also changed during the year vide fresh certificate of
 incorporation, consequent upon change of name, dated September 29,2009
 issued by Registrar of Companies, Chennai so as to reflect the new
 Ownership / Promoters of the Company.
 
 Aditya Birla Commodities Broking Limited continues to perform well and
 is a significant player in commodity trading, especially in gold
 trading. ABCBL, the subsidiary company, posted total Income of
 Rs.1,537.41 Lakhs compared to Rs.1,583.81 Lakhs during previous
 year.The net profit was up 461% at Rs. 320.65 Lakhs, compared to Rs.
 57.11 Lakhs in the previous year. This was due to significant increase
 in the brokerage income during the year and change in revenue mix.
 
 The Consolidated financial statements of your Company and its
 subsidiary Company are prepared in accordance with the Accounting
 Standards prescribed by the Institute of Chartered Accountants of India
 form part of the Annual Report.The statement pursuant to section 212 of
 the Companies Act, 1956 containing details of the subsidiary company is
 attached to this annual report.
 
 Pursuant to the application made by the Company under section 212(8) of
 the Companies Act, 1956, the Ministry of Corporate Affairs, Government
 of India vide its Letter No. 47/117/2010 CL-III dated 03/03/2010
 granted exemption from attaching a copy of the Balance Sheet, Profit
 and Loss Account, Directors Report and the Auditors Report of the
 Subsidiary Company and other documents required to be attached under
 
 Section 212 of the Companies Act to the Balance Sheet of your Company.
 In compliance with the terms of the exemption, summary financial
 information for the subsidiary has been also included and forms part of
 the Annual Report. Any shareholder / investor of the holding company or
 subsidiary company desirous of obtaining the annual accounts of the
 subsidiary company and related information may obtain the same by
 sending a request in writing to the Company at the registered office.
 These documents are also open for inspection at the registered office
 of the Company / subsidiary Company.
 
 CORPORATE GOVERNANCE
 
 Your Company complies with the requirements of the Listing Agreement
 with the Stock Exchange where the Companys shares are listed. The
 report on Corporate Governance specified under clause 49 of the Listing
 Agreement is included as part of the Directors Report. A Certificate
 from the Practicing Company Secretary regarding compliance with the
 conditions of Corporate Governance as stipulated under clause 49 of the
 Listing Agreement is attached to this report.
 
 The Ministry of Corporate Affairs has issued a set of Voluntary
 Guidelines on Corporate Governance  and  Corporate Social
 Responsibility in December 2009. These guidelines are expected to
 serve as a benchmark for the corporate sector and also help in
 achieving the highest standard of corporate governance.
 
 Some of the provisions of these guidelines are already in place as
 reported elsewhere in this Annual Report.  The other provisions of
 these guidelines are being evaluated and your Company will strive to
 adopt the same in a phased manner.
 
 MANAGEMENT DISCUSSION AND ANALYSIS REPORT
 
 The Management Discussion and Analysis Report as stipulated under
 clause 49 of the Listing Agreement is annexed to the Annual Report.
 
 DIRECTORS
 
 During the year, Mr. Sudhakar Ramasubramanian relinquished charge as
 Executive Director of the Company with effect from January 4,2010. He
 however, continues on the Board as a Non-executive Director. Mr. Kanwar
 Vivek, Director was appointed as the Managing Director of the Company
 with effect from January 4, 2010.
 
 Mr. Pankaj Razdan, Director of the Company, retires by rotation at the
 ensuing Annual General Meeting and being eligible has offered himself
 for re-appointment. The Board recommends his re-appointment.
 
 AUDITOR & AUDITORS REPORT
 
 M/s. R. Subramanian & Company, Chartered Accountants, retire at the
 conclusion of the ensuing Annual General Meeting. The Company has
 received a letter from M/s. R. Subramanian & Company, Chartered
 Accountants, expressing their unwillingness to be re-appointed as
 Auditors. Your Directors have therefore proposed the appointment of
 M/s. S. R. Batliboi & Associates, Chartered Accountants, Mumbai as
 Statutory Auditors of the Company. The Company has received a letter
 from them to the effect that their appointment, if made, would be
 within the prescribed limits under section 224(1-B) of the Companies
 Act, 1956, and that they are not disqualified for such appointment
 within the meaning of Section 226 of the Companies Act, 1956.
 
 The observations made by the Auditors in their report read with
 relevant notes to the Accounts are self- explanatory and do not call
 for any further comments under section 217(3) of the Companies Act,
 1956
 
 DIRECTORS RESPONSIBILITY STATEMENT
 
 As required under Section 217(2AA) of the Companies Act, 1956, the
 Directors of the Company hereby state and confirm:
 
 1.  That in the preparation of Annual Accounts for the year, applicable
 Accounting Standards have been followed along with proper explanations
 relating to material departures;
 
 2.  That the Directors have selected such accounting policies and
 applied them consistently, and made judgements and estimates that are
 reasonable and prudent so as to give a true and fair view of the state
 of affairs of the Company as at the end of the financial year and of
 the profit of the Company for that period;
 
 3.  That the Directors have taken proper and sufficient care for 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.  That the Directors have prepared the Annual Accounts on a going
 concern basis.
 
 COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF BOARD OF
 DIRECTORS) RULES, 1988
 
 In view of the nature of activities which are being carried on by the
 Company, the particulars prescribed under Section 217(1)(e) of the
 Companies Act, 1956 read with Companies (Disclosure of Particulars in
 the Report of the Board of Directors) Rules, 1988 regarding
 conservation of Energy & Technology Absorption are not applicable to
 the Company. The Company does not have any foreign exchange earnings
 and outgo during the year.
 
 PARTICULARS OF EMPLOYEES
 
 In accordance with the provisions of Section 217(2A) read with the
 Companies (Particulars of Employees) Rules 1975, the names and other
 particulars of employees are to be set out in the Directors Report as
 an addendum thereto. However, in terms of the provisions of Section
 219(1 )(b)(iv) of the Companies Act, 1956 , the Report and accounts, as
 therein set out, are being sent to all the members of the company
 excluding the information about the employees. Any member, who is
 interested in obtaining such particulars about employees, may write to
 the Company Secretary at the Registered Office of the Company.
 
 ACKNOWLEDGEMENTS
 
 Your Directors express their sincere appreciation to the regulatory
 authorities, to Companys bankers, shareholders, stakeholders and
 clients for their continued co-operation and support. Your Directors
 take this opportunity to recognize and place on record their deep sense
 of appreciation for the commitment and contribution made by all the
 employees and look forward to receive the same in future.
 
                                    For Aditya Birla Money Limited 
                               (Formerly known as Apollo Sindhoori
                                       Capital Investments Limited)
 
 Kanwar Vivek                              Sudhakhar Ramasubramian
 
 Managing Director                                        Director
 
 P. Sudir Rao                                          Manoj Kedia
 
 Director                                                 Director
 
 Place: Chennai,
 Date: April 23,2010