The Members,
 
 The Directors have pleasure in presenting the Annual Report of the
 company and Audited Accounts along with Auditors Report for the year
 ended 30th June, 2011.
 
 FINANCIAL RESULTS
 
                                                       (Rs. in Lacs)
 
 Particulars                             2010-11           2009-2010
 
 Total Income                           57902.93            47321.13
 
 Profit before depreciation, 
 interest and tax                        8331.07             6899.18
 
 Less: Depreciation                      1110.53             1035.72
 
 Interest                                2742.79             2077.13
 
 Profit before tax                       4477.75             3786.33
 
 Add: Revalution Reserve                    6.32                7.02
 
 Less: Provision for taxation             678.63              568.10
 
 Profit after tax                        3805.44             3225.24
 
 Earnings Per Share (Rs. in Units)         14.54               12.33
 
 OPERATIONAL REVIEW
 
 Your Company crossing the 6th successful year after IPO in 2005 touched
 the Top Line by Rs. 57801.18 Lacs in 2010-11 as compared to Rs.
 47240.44 Lacs in previous year 2009-10, registering a stable growth in
 Turnover by 22.36 %. Attributing its high rise, in terms of growth, to
 its 3 successful Brands - Amar, Smiles and Fresh Smiles, your
 Company climbed the ladder with i an incredible 18 % rise'' in Net
 profit in current year 2010-11.
 
 The positive impact of increasing consumer demand, consumption, and
 higher income levels overcame the negative impact of increasing input
 costs and other related costs. This enabled the Company to register
 Total income of Rs. 57902.93 Lacs as compared to the total income of
 Rs. 47321.13 Lacs in the previous year 2009-10, followed by a
 reasonable growth in Net profit wherein, the Company posted PAT of Rs.
 3805.44 Lacs, reflecting a growth of 18 % as compared to PAT of Rs.
 3225.24 Lacs in the previous year 2009-10. The Company has continued to
 follow upward trend and has put forth a rise in EBIDTA and EPS by 20.75
 % and 17.92 % respectively. Your management has made all efforts to
 keep its promise of increasing revenues & market share and the impact
 of the same is visible from current financial figures.
 
 The Company during the current year spread its wings and entered into
 an arrangement with WALT DISNEY in-order to further penetrate urban and
 semi-urban areas and across geographies in India. The marketing scheme
 offered to consumers was - with purchase of every 150 gms of AMAR CLOVE
 GEL TOOTHPASTE a FREE Movie DVD of Walt Disney was given. The Walt
 Disney DVD''s had 9 varieties of the latest Cartoon Movies, and on
 collection of all 9 DVD''s by the consumer, the top 2 lucky draw winners
 stood a chance to visit Disneyland. In extension to this scheme,
 Company is also doing massive media advertisement through different TV
 channels viz -
 
 s Star Pravaah,
 
 s Star Plus,
 
 s Zee Marathi,
 
 s AsiaNet,
 
 s Colors,
 
 s Zee Cinema,
 
 s Set Max, 
 
 s Sony Pix, 
 
 s B4U Music,
 
 s Suvarna,
 
 s Star Jaisha,
 
 s Zee News,
 
 s Aaj Tak,
 
 s Dilli Aaj Tak,
 
 s Headlines Today,
 
 s Udaya TV, Zee Bangla, Imagine TV and
 
 s Masti
 
 This offer has contributed largely to our ever increasing consumer base
 across the Country.
 
 The Company during the Current year, in order to create awareness of
 Oral Hygiene, conducted Dental Camps across many Schools and Malls.
 
 The Company carried out Amar Dental Camps across Schools, Malls and
 Societies with an aim to reach out and educate consumers on the brand
 and the benefits of Amar Toothpaste. The activity helped build
 awareness, induce trials and induce purchases. Acceptance levels of the
 brand in retail were observed giving distribution a further push.
 
 The umpteen performance of the Company''s Brand Fresh Smiles,
 introduced in the previous year 2009-10 in Africa to cater the African
 markets and the Ultra Modern FMCG Plant set-up in Nigeria to cater the
 entire Nigerian market and neighboring Countries, will enable the
 Company to Diversify on a larger scale in International market.
 
 The Luxury Natural Cosmetic Segment is in Boom and the cosmetics market
 in India is growing at 15- 20% annually. In addition to this, there has
 been tremendous growth in the SPA Industry in last 5 years.  The
 Nature''s Co. – into Partnership with Amar Remedies Ltd, engaged into
 manufacturing of Luxurious Natural Cosmetic Products, has opened 2
 additional showrooms in the year 2010-11 in major Mall''s of – Kolkata
 and Pune. As on date it has total 6 Showrooms in main cities such as –
 Delhi –Select City Walk, Mumbai- Palladium, Chennai-
 
 Express Mall, Kolkata - South City Mall, Ahmedabad - Iscon Mall and
 Pune - Phoenix City.
 
 The Nature''s Co. also has SPA facility in all its Showrooms which helps
 the customers to rejuvenate and get experience of the products they
 choose to buy. This Add on benefit has increased the Brand image and
 consumer awareness which in-turn is encouraging The Nature''s Co. to
 open more showrooms. The UAE Cosmetic Industry is on upward trend and
 hence in-order to cater the UAE market, the Company is planning to open
 1st International Showroom of The Nature''s Co. in DUBAI followed by
 other showrooms in Singapore and Hongkong in coming years.
 
 The Nature''s Co. has been active participant in all activities that
 improve our Mother Nature. Pro-Green is an initiative by The Nature''s
 Co. wherein, The Nature''s Co. had a tie up with Grow Trees an
 organisation that plants trees on community and public lands with
 donations as low as price of a greeting card. The firm contributed
 socially by planting trees across geographies and certifying the
 contributors in tree plantation activity.
 
 The Brand also encourages Re-cycling by keeping an Eco- Barrel, in
 all its showrooms, wherein all the used product packs can be given back
 for re-cycling, thus benefiting the nature.
 
 CREDIT RATINGS
 
 During the year 2010-11, the Long Term Credit Rating of the Company
 assigned by CARE, was Upgraded from CARE A- to CARE A and Short
 term Rating is sustained to PR1 which reflects strong capacity for
 timely payment of Short Term Debt obligations and carry lowest credit
 risk.
 
 DIVIDEND
 
 The Company''s growth is highly accredited to all its Shareholder,
 Customers, Suppliers, and Bankers.  Like last 2 years, this year as
 well, Company intends to reward their Shareholders by recommending 10%
 dividend (of Rs. 1.00/- per share on Equity Shares of Rs. 10/- each)
 for the financial year 2010-11, subject to the same being approved by
 shareholders at the forthcoming Annual General Meeting.
 
 CONSOLIDATED FINANCIAL STATEMENTS AND SUBSIDIARY COMPANY
 
 In accordance with the Accounting Standard 21 on Consolidated Financial
 Statements issued by Institute of Chartered Accountants of India, your
 Directors provide the Audited Consolidated Financial Statements in the
 Annual Report.
 
 Ministry of Corporate affairs, Government of India (MCA) has on 8th
 February, 2011 issued directions through general circular, exempting
 Holding Companies from attaching specified particulars of its
 Subsidiary Companies with Balance Sheet of holding company. The
 directions have been issued by MCA in terms of Section 212(8) of the
 Companies Act, 1956.
 
 The annual accounts of the subsidiary companies and the related
 detailed information shall be made available to shareholders of the
 holding subsidiary and subsidiary companies seeking such information at
 any point of time at the registered office of the company.
 
 THE NATURE''s COMPANY - TNC
 
 The Nature''s Co is the partnership firm in which Amar Remedies Ltd is
 the partner. The Nature''s Co. is engaged into the business of
 manufacturing and selling of Luxury Natural Cosmetics in India. TNC,
 although, is mainly targeting the niche Premium Segment it has 6
 Showrooms in Premium City Malls viz- Delhi – Select City Mall, Mumbai –
 Palladium, Chennai – Express City mall, Ahmedabad – Iskon Mall, Kolkata
 – South City mall and Pune – Phoenix Market City. The Firm also intends
 to cross borders and open 1st International Showroom in Dubai in
 addition to 6 showrooms in India.
 
 MANAGEMENT DISCUSSION AND ANALYSIS
 
 Management discussion and analysis report as required under the
 Listing Agreements with the stock exchanges has been furnished
 separately in this Annual Report.
 
 LISTING AT STOCK EXCHANGE
 
 The equity shares of the Company continue to be listed on the Bombay
 Stock Exchange and the National Stock Exchange of India Ltd. The Annual
 Listing fees for the year 2010-11 have been paid to these Stock
 Exchanges.
 
 FIXED DEPOSITS
 
 The Company has not accepted any deposit within the meaning of Section
 58A of the Companies Act 1956, from the public during the year under
 review.
 
 INSURANCE
 
 The assets of the company including Buildings, Plant & Machinery,
 Stocks, etc. have been adequately insured.
 
 INDUSTRIAL RELATIONS
 
 The Employees and Workmen of the entire Company form basis for the
 infinite success of the Company and hence the Directors express their
 gratitude towards the dedication, Support, enthusiasm, and hard work of
 the employees.
 
 PARTICULARS OF EMPLOYEES
 
 The Ministry of Corporate Affairs has vide notification dated 31st
 March, 2011 enhanced the limits for the purpose of disclosure of
 particulars of employees in Directors report as requisite under Section
 217 (2A) read with Companies (Particulars of Employees) Rules, 1975
 from the existing limit of Rs. 24.00 Lacs per year/ Rs. 2.00 Lacs per
 month to Rs. 60.00 Lacs per year/ Rs. 5.00 Lacs per month. Therefore,
 none of the employees are getting the remuneration exceeding the Rs.
 5.00 Lacs per month so disclosures of particulars of employees are not
 given.
 
 DIRECTORS
 
 In accordance with the provisions of the Companies Act, 1956 and the
 Articles of Association of the company, Mr. Gaurav Doshi, Mrs. Natasha
 S. Shah and Mr. Jyotirmay Varma, Directors of the Company are liable to
 retire by rotation at the ensuing Annual General Meeting and being
 eligible have offered themselves for re-appointment.
 
 AUDITORS
 
 M/s. Shyam C. Agrawal & Co., Chartered Accountants, retire as Auditor
 of the company at the conclusion of ensuing Annual General Meeting and
 have confirmed their eligibility and willingness to accept the office
 of Auditors, if re-appointed. Accordingly, the said Auditors may be
 reappointed as Auditors of the Company at the forthcoming Annual
 General Meeting.
 
 CORPORATE GOVERNANCE
 
 Pursuant to Clause 49 of the Listing Agreements with the stock
 exchanges a separate section titled Corporate Governance has been
 included in this Annual Report.
 
 CONSERVATION OF ENERGY RESOURCES, TECHNOLOGY ABSORPTION AND FOREIGN
 EXCHANGE EARNINGS AND OUTGO
 
 As required u/s. 217(1)(e) of the Companies Act, 1956, read with the
 Companies (Disclosure of particulars in report of Board of Directors)
 Rules, 1988, the particulars in respect of conservation of Energy
 Resources, technology absorption and Foreign Exchange Earnings & Outgo
 are set out in the Annexure I to the Directors'' Report.
 
 DIRECTORS'' RESPONSIBILITY STATEMENT
 
 Pursuant to provisions of section 217(2AA) of the Companies Act, 1956
 your directors confirm that:
 
 i) In the preparation of the annual accounts, the applicable accounting
 standards have been followed, alongwith proper explanation to material
 departure, wherever applicable;
 
 ii) 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 a true and fair view of the state of affairs
 of the Company as at 30th June,2011 and of the profit for the year
 ended on that date;
 
 iii) 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;
 
 iv) The Directors have prepared the annual accounts for the financial
 year ended 30th June, 2011 on a going concern basis.
 
 ACKNOWLEDGEMENTS
 
 The Board of Directors place their appreciation towards all its
 Employees who have contributed towards the success of the Company. The
 Directors are also grateful to the Government, Statutory Authorities,
 Shareholders, Banking & Financial institutions, Consumers, Suppliers
 and Business Associates for their support and Co-operation put forth
 for the Company''s excellent growth.
 
                                   BY ORDER OF THE BOARD OF DIRECTORS
                                           FOR AMAR REMEDIES LIMITED.
 
                                                                SD/- 
  
 PLACE:MUMBAI                                          SAGAR P. SHAH 
 
 DATE : 26TH AUGUST, 2011                          MANAGING DIRECTOR