The Directors have pleasure in presenting the 8th Annual Report
 together with the Audited Accounts for the financial year ended 31st
 March, 2000.
 
 FINANCIAL RESULTS :
 
                                                             (Rs. Lacs)
 
                                                 1999-2000     1998-99
 
 Turnover                                            49.51      643.70 
 
 (Profit)/Loss before Interest & Depreciation       (0.20)       26.41 
 
 Less : Interest                                      0.16           -
 
 Less : Depreciation                                 34.91       40.20
 
 Loss Before Taxation                                34.87       66.61
 
 Less : Provision for Taxation                           -           -     
 
 Loss for the year                                   34.87       66.61  
 
 Add : Balance of Profit & Loss A/C
 A/c brought forward                                914.91      848.30 
 
 Loss available for Appropriation                   949.78      914.91  
 
 APPROPRIATIONS :
 
 Balance Carried Forward to Balance Sheet           949.78      914.91
 
 
 DIVIDEND :                                      
 
 Looking to the results of the Company your Directors are unable to
 recommend any Dividend.
 
 DIRECTORATE :
 
 In accordance with the provisions of the Companies Act, 1956 and the
 Company's Articles of Association, Shri Harshad N. Patel retire by
 rotation and being eligible offers himself for reappointment.
 
 FIXED DEPOSITS :
 
 During the year the Company has not accepted any Food Deposits to which
 the provisions of Section 58A of the Companies Act, 1956 are
 applicable.
 
 PERSONNEL :
 
 As no employees salary/remuneration were of an amount equal to or more
 than the limits specified under section 217(2A) of the Companies Act,
 1956 details of information under section 217(2A) of the Companies Act,
 1956 have not been provided herewith.
 
 INDUSTRIAL RELATIONS
 
 The Directors wish to place on record their appreciation for the
 devoted services rendered by all categories of office staff of the
 Company.
 
 APPOINTMENT OF AUDITORS :
 
 M/s. C.C. Chokshi & Company, Chartered Accountants, Ahmedabad, hold
 office as Auditors of the Company until the conclusion of the Annual
 General Meeting and being eligible, offer themselves for reappointment.
 The Directors recommend their reappointment.