For 3 decades, Archies has successfully spread smiles all around. We
 believe in the power of relationships and continue to foster our
 relationships with the same zeal. Over the years, our relationships,
 with our customers and business associates have only grown stronger and
 healthier, even in the face of the recently gone by tough times.
 
 I want to share with you, the coming of a new era. The era of the
 expressive Indian. Our phenomenal development in all areas of life is
 attracting the worlds attention.
 
 Together, we are witnessing the worlds growing interest in us and our
 growing interest to the rest of the world. This has led to the coming
 of a new age and with it, the new Indian. Indians, who are more
 expressive with their emotions. We are now living in a time where
 expressive giving has become a part of our lifestyle.
 
 At Archies, we have foreseen this trend and embraced it. We saw that
 the changing demographic and psychographic face of our nation offered
 us great opportunities. Thats why we introduced new elements to our
 brand, stores, and relationships.
 
 We have successfully partnered with some of the world leaders in the
 category of greeting cards, soft toys and social expression gifts,
 brought in new products and even new brands under Archies. Our backend
 operations have also been enhanced.
 
 With thousands of SKUs, vendors, suppliers, and other logistics, we
 have a robust supply chain platform geared for the future.
 
 By bringing new ideas and products from every corner of the world, we
 are introducing and becoming a channel for the new expressive India.
 Not only do we give form to emotions but we have also become the face
 of this new era.  These achievements wouldnt have been possible
 without the support of our franchisees, our customers and you, who
 continue to back our efforts with your good wishes.
 
 I now invite you to share another year of growth and achievement. Let
 us strengthen the bonds of our relationship.  And together, look ahead
 to a rewarding future with Archies.
 
 Regards
 
 Anil Moolchandani
 
 Chairman & Managing Director