The Directors have the pleasure of presenting the 51st Annual Report
 of the Company together with the Audited Annual Accounts for the year
 ended 31st March 2010.
 
 1.  FINANCIAL PERFORMANCE
 
 Summary of the Operating results for the year and appropriation of
 divisible profits is given below:
 
                                                        (Rs. in Lacs)
 
                                            2009-10           2008-09
 
 Total Income                               6980.37           7810.10
 
 ProfiV(Loss)                               2676.05           7677.50
 
 Less: Extra-Ordinary Items Amount 
 written back                               1761.89           6892.90
 
 Technical Know-how fee                           -            119.70
 
                                            1761.89           7012.60
 
 Net Operating Profit after adjustment
 
 of Extra-Ordinary Items but before 
 Depreciation                                914.16            664.90
 
 Depreciation                                460.41            456.11
 
 Profit/(Loss) before Tax                   2215.63           7221.39
 
 Profit/(Loss) after Tax                    2215.63           7218.71
 
 ProfiV(Loss) brought forward              (2214.53)         (9433.24)
 
 Balance Carried Forward                       1.10          (2214.53)
 
 
 2.  DIVIDEND
 
 In view of the carry forward losses your directors do not recommend
 payment of dividend on equity shares.
 
 5.  FIXED DEPOSITS
 
 During the year the Company has not accepted any deposits from the
 public or otherwise in terms of Section 58A of the Companies Act,1956,
 read with the Companies(Acceptance of Deposit) Rules, 1975.
 
 6.  DIRECTORS
 
 Mr Ujjwal Banerjee, Director, retires by rotation at the ensuing Annual
 General Meeting and being eligible, offers himself for reappointment.
 
 7.  AUDITORS
 
 The Auditors, M/s L. B. Jha & Co., Chartered Accountants, retire at the
 ensuing Annual General Meeting and are eligible for re-appointment as
 Auditors.
 
 The Audit Committee in their meeting held on 28th August, 2010 has
 recommended the re-appointment of M/s. L. B. Jha & Co., Chartered
 Accountant.
 
 8.  CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, ETC.
 
 Details of energy conservation and research and development activities
 undertaken by the Company along with the information in accordance with
 the provisions of Section 217(1)(e) of the Companies Act,1956,read with
 the Companies (Disclosure of Particulars in the Report of the Board of
 Directors) Rules,1988, are given in Annexure A to the Directors
 Report.
 
 9.  CORPORATE GOVERNANCE
 
 As required by Clause 49 of the Listing Agreement, a separate report on
 Corporate Governance forms part of the Annual Report. A report from the
 Statutory Auditors of the Company regarding compliance of conditions of
 Corporate Governance forms part of Annexure B.
 
 10.  PARTICULARS OF EMPLOYEES UNDER SECTION 217(2A) OF THE COMPANIES
 ACT, 1956
 
 As required under the provisions of Section 217(2A) of the Companies
 Act, 1956, read with the Companies (Particulars of Employees) Rules,
 1975, as amended, a statement showing the names and other particulars
 of employees are set out in Annexure I to this Report. As per the
 amendments made by the Department of Company Affairs to the Companies
 (Particulars of Employees) Rules, 1975 by Notification No. GSR 212 (E)
 dated March 24, 2004, the particulars of employees of the Company
 posted and working outside India, not being Directors or their
 relatives, drawing more than rupees twenty four lacs per financial year
 or rupees two lacs per month, as the case may be, have not been
 included in the said statement.
 
 11.  DIRECTORS RESPONSIBILITY STAEMENT
 
 Pursuant to Section 217(2AA) of the Companies Act,1956, your Directors
 hereby confirm that:
 
 i) In the preparation of the Annual Accounts for the Financial Year
 ended 31st March, 2010 the applicable Accounting Standards have been
 followed and proper explanations have been provided for material
 departures;
 
 ii) The Board of Directors have selected such Accounting Policies with
 the consultation of the Statutory Auditors and have 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 at the end of the financial year and of the Profit or Loss
 of the Company for the year under review;
 
 iii) The Board of Directors have taken proper and sufficient care for
 the maintenance of the 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; and
 
 iv) The Annual Accounts for the financial year ended 31st March,2010
 have been prepared on a going concern basis.
 
 12.  APPRECIATION AND ACKNOWLEDGEMENTS
 
 Your Directors appreciate the continued support from the shareholders ,
 customers, suppliers, Government, Banks, Financial Institution , and
 above all the dedicated workforce, who have being fully dedicated for
 your Companys revival.
 
 
                                                 By Order of the Board 
 
                                 For Allied Resins & Chemicals Limited
 
 Registered Office:
 
 13.  Camac Street, 
 
 Kolkata - 700017                                  Suraj Ratan Mundhra 
 
 Date : The 28th Day of August, 2010      Chairman & Managing Director