To The Members :
 
 The Directors have pleasure in presenting their report along with the
 Audited Accounts for the year ended March 31''2012:
 
 01.  Financial Results :                  (Rs. in lakhs)
 
                                    Year Ended       Year Ended 
 PARTICULARS                        31.03.2012       31.03.2011
 
 Net Sales / Job Work                        0            73.56
 
 Other Income                            11.91           628.46 
 
 Total exps. before int.
 
 and Depreciation                        22.91           403.20
 
 Gross Profit / (Loss)                  (11.00)          298.82
 
 Interest & Finance Charges                  0            22.32
 
 Depreciation                                0                0
 
 Net Profit / (Loss)                    (11.00)          276.50
 
 Paid up Share Capital                 2150.00          2150.00
 
 Reserves & Surplus (Share premium)      39.87            39.87
 
 * Includes capital gain of Rs.619.16 lakhs.
 
 02.  Status of company''s operation:
 
 Steps are being taken including suitable identification of land to set
 up facilities for the diversified engineering business. There are
 enough opportunities for the diversified business due to growing demand
 for power sector.
 
 03.  State of Company''s Affairs :
 
 The erosion of net worth continued to be more than 50% and hence your
 company report the fact of such erosion to BIFR'' U/s 23 of SICA.
 
 04.  Finance: Fresh facilities will be obtained for the diversified
 business when required.
 
 05.  Directors:
 
 Shri.V'' Bharathi and Shri T.S. Prabhu Rajan retiring by rotation at
 this meeting and being eligible'' offer themselves for re-appointment.
 They have given intimation in the prescribed form U/s.274(1)(g) of the
 Companies Act'' 1956.  Shri GN.V. Mohan Raju resigned from the
 directorship with effect from 10-04-2012.
 
 The above reappointments are included as items for the General meeting
 for sanction from members.
 
 No Director of the company is disqualified under Sec.274(1)(g) of the
 CompaniesAct'' 1956 from being reappointed as director of the company.
 
 07.  Corporate Governance :
 
 The particulars required under clause 49(vii) of the Listing Agreement
 on Corporate Governance are furnished in the Annexure to this report. A
 certificate from the Auditors of the company regarding compliance of
 the conditions of the Corporate Governance as stipulated in clause 49
 of the Listing Agreement is attached to this report.
 
 08 Auditors :
 
 M/s.L.Pandurangan & Co.'' Chartered Accountants'' Sri Rangam'' Trichy 620
 006'' retire at the conclusion of this AGM and are eligible for
 reappointment.
 
 09.  Deposits:
 
 Your company has not accepted any deposits from the public under
 Sec.58.A of the Companies Act.'' 1956.
 
 10 Statutory Information:
 
 None of the employees of the company drawn remuneration in excess of
 the limits prescribed U/s.217 (2A) of the Companies Act'' 1956 during
 the year under report.
 
 11 Energy Conservation'' Technology Absorption And Foreign Exchange
 Earnings And Outgo :
 
 The particulars required U/s.217 (1) (e) of the Companies Act'' 1956''
 read with Companies (Disclosure of Particulars in the Report of Board
 of Directors) Rules 1988'' are furnished in the Annexure to this Report.
 
 12 Directors Responsibility Statement:
 
 1.  Your Directors in terms of Sec.217 (2AA) of the Companies Act'' 1956
 confirm that: All applicable accounting standards have been followed in
 the preparation of the annual accounts for the financial year ended
 31.03.2012 and proper explanatory statements added wherever necessary.
 
 2.  Your 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 of 31st March 2012 and of the Loss of the Company for
 the financial year ended 31.03.2012.
 
 3.  Proper and sufficient care has been taken for the maintenance of
 adequate accounting records in accordance with the provisions of the
 Act for safeguarding the assets of the company and for preventing and
 detecting fraud and other irregularities.
 
 4.  The annual accounts were prepared for the financial year ended 31st
 March'' 2012 on a going concern basis.
 
 13 Acknowledgement :
 
 Your Directors wish to express their appreciation and gratitude to
 State Bank of India'' the Central and State Governments and their
 agencies for their valuable assistance and co-operation that your
 company has been receiving from them. Your Directors wish to thank the
 shareholders for the confidence reposed by them. Your Directors place
 on record the involvement of employees in the operation of the company.
 
                             For and on behalf of the Board
 
 Place : Trichy - 620 001.   S. Kanagaraj
 
 Date : 31.07.2012           Managing Director