The Members
 
 The Directors present their Seventy-Sixth Annual Report together with
 Audited Statement of Accounts for the year ended March 31, 2011.
 
 
                                        Current Year       Current Year
                                           2010-2011          2009-2010
                                       (Rs. in lacs)      (Rs. in lacs)
 
 Income                                       162.19               0.96
 
 Profit / (Loss) before 
 Interest & Depreciation:                     156.86             (0.12)
 
 Less:
 
 Interest                                          -                  -
 
 Depreciation                                   0.06               0.03
 
 Profit / (Loss) before Tax                   156.80             (0.15) 
 
 Provision for Current Tax                         -                  -
 
 Provision for Deferred Tax                    50.19               0.01
 
 Less: Short Provision for earlier 
 year now made                                                   (3.62)
 
 Profit / (Loss) After Tax                    106.61             (3.76)
 
 Balance brought forward                        4.03               7.79
 
 Appropriations:
 
 Transfer to General Reserve                       -                  -
 
 Balance carried to Balance Sheet             110.64               4.03
 
 OPERATIONS
 
 The total income for the year under review is Rs.162.19 Lakhs as
 compared to Rs.0.96 Lakhs in the last year. There is a net profit of
 Rs.106.61 Lakhs as compared to a net loss of Rs.3.76 Lakhs in the last
 year.
 
 PUBLIC DEPOSITS
 
 During the year under review, your Company has not accepted any
 deposits under the provisions of Section 58A of the Companies Act, 1956
 and the rules made there under.
 
 DIRECTORS
 
 The Board has appointed Mr. Upendra Prasad, Ms. Roma Ahuja and Mr. Uday
 Kumar as Additional Directors of the Company with effect from March 22,
 2011. Pursuant to the provisions of Section 260 of the Companies Act,
 195b and Article 124 of the Articles of Association of the Company, Mr.
 Upendra Prasad, Ms. Roma Ahuja and Mr. Uday Kumar hold office upto the
 date of the ensuing Annual General Meeting. It is proposed to appoint
 Mr.  Upendra Prasad, Ms. Roma Ahuja and Mr. Uday Kumar as Directors of
 the Company. The Notices have been received from the members pursuant
 to Section 257 of the Companies Act, 1956, proposing their candidature
 for the office of Director.
 
 The Board has also appointed Mr. Arvind Kumar and Mr. Surendra Sharma
 as Additional Directors of the Company with effect from November 14,
 2010. However, Mr. Arvind Kumar, Mr. Surendra Sharma and Mr. Hemant
 Panpalia resigned from Directorship of the Company with effect from
 March 22, 2011. Your Directors place on record their appreciation for
 the valuable and devoted services rendered by them.
 
 DIRECTORS'' RESPONSIBILITY STATEMENT
 
 Pursuant to Section 217 (2AA) of the Companies Act, 1956, the Directors
 based on the representations received from the Operating Management
 confirm that, to the best of their knowledge -
 
 i) in the preparation of the annual accounts, the applicable accounting
 standards have been followed along with proper explanation relating to
 material departures;
 
 ii) the Directors have selected such accounting policies and applied
 them consistently and made judgments and estimates that were 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 of
 the Company for the year under review;
 
 iii) the Directors have taken proper and sufficient care to the best of
 their knowledge and ability 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 accounts on a going concern basis.
 
 FUTURE OUTLOOK
 
 As you are aware that the Company has undertaken a new line of business
 in the field of engineering projects execution and construction
 services for infrastructure projects. Your Directors are pleased to
 inform you that the Company has received encouraging response and has
 successfully bagged a large order for Engineering, Procurement and
 Construction (EPC) services in power sector. Your company is highly
 optimistic to improve its order book substantially, by procuring
 further Contracts and Orders, in the forthcoming years.
 
 CHANGE OF NAME OF THE COMPANY
 
 During the year under review, the name of the Company was changed from
 ''The Anand Electric Supply Company Limited'' to ''Anand Projects Limited''
 pursuant to approval of Members obtained at Extraordinary General
 Meeting held on January 05, 2011. Fresh Certificate of Incorporation
 was received by the Company on January 07, 2011.
 
 AUDIT COMMITTEE
 
 The Audit Committee was last reconstituted on March 22, 2011 and it
 comprises of Mr. Upendra Prasad (Chairman), Ms. Roma Ahuja and Mr. Uday
 Kumar. The Audit Committee met 4 times during the year under review.
 
 AUDITORS
 
 M/s. Pramod & Associates, Chartered Accountants, the Statutory Auditors
 retire at this meeting and are eligible, offer themselves for
 re-appointment. A certificate has been obtained from them to the effect
 that the appointment, if made will be in accordance with the limits
 specified in sub-section (1B) of Section 224 of the Companies Act,
 1956. The Audit Committee and your Board recommended their
 re-appointment.
 
 AUDITOR''S REPORT
 
 The observations made by the Auditors in their report are appropriately
 dealt with in the notes forming part of the accounts for the year which
 are self-explanatory and hence do not require any further explanations.
 
 CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
 EARNINGS AND OUTGO
 
 In view of the nature of activities which are being carried on by the
 Company, Rules 2A and 2B of the Companies (Disclosure of Particulars in
 the Report of Board of Directors) Rules, 1988, concerning conservation
 of energy and technology absorption respectively are not applicable to
 the Company.
 
 During the year under review, there was no foreign exchange earnings
 and outgo.
 
 PARTICULARS OF EMPLOYEES
 
 Information as per Section 217(2A) of the Companies Act, 1956 read with
 Companies (Particulars of Employees) Rules, 1975 is not given, as there
 were no employees drawing remuneration prescribed under the said
 section.
 
 ACKNOWLEDGEMENT
 
 Your Directors wish to place on record their sincere appreciation of
 the assistance and support extended by customers, financial
 institutions, banks, vendors, Government and other associated with the
 activities of the Company.
 
 
 
                            For and on behalf of the Board of Directors
 
                                                                   Sd/-
                                                         Upendra Prasad
                                                               Chairman
 
 Place: Mumbai 
 Dated: June 25, 2011