The Shareholders,
 
 Chartered Logistics Limited
 
 The Directors are pleased to present the 16th Annual Report together
 with the Audited Accounts of the Company for the year ended March 31st,
 2011.
 
 1.  FINANCIAL RESULTS
 
 The Financial results for the year ended March 31st, 2011 are
 summarized as under:
 
                                                     (Rs. in lacs) 
 
                                            31.03.2011     31.03.2010
 
 Total Income                                 18467.69       12389.03
 
 Profit (Loss) before Interest, 
 depreciation and taxes                        2392.32        1188.82
 
 Less : Interest & Finance Charges              490.41         260.04
 
 Less : Depreciation                            741.47         324.92
 
 Profit Before Tax                             1160.45         603.85
 
 Less : Payment/ Provision for tax              234.35         205.00
 
 Less: Deferred Tax (Credit)/liability          185.49          (1.10)
 
 Add: MAT credit entitlement                     43.01           0.00
 
 Profit (Loss) After Tax                        783.63         399.96
 
 Excess/(Short) Provision of earlier year        (1.54)          2.64
 
 Net Profit                                     782.08         402.60
 
 2.  DIVIDEND AND RESERVE
 
 The Board of Directors at its meeting held on November 5, 2010 declared
 an interim dividend @ 0.10 Re. (i.e.  10%) per equity share for the
 year ended March 31, 2011. No final dividend has been recommended by
 the Board.
 
 The company proposes to transfer Rs. 78.21 lacs to General Reserve out
 of the amount available for appropriation.
 
 3.  OPERATION
 
 During the year company has reported Total Income of Rs. 18467.69 Lacs
 as against Rs. 12389.03 Lacs in the previous year and Net Profit of Rs.
 782.08 lacs as against Net Profit of Rs. 402.60 lacs in the previous
 year.
 
 4.  FUTURE OUTLLOK
 
 The Company expects that market condition will improve in the coming
 year and perform reasonably well.
 
 5.  STOCK EXCHANGES
 
 The company''s shares are listed on Bombay Stock Exchange Limited (BSE)
 the company has paid necessary listing fees for the year
 20110-2011.Also the Company is considering listing at National Stock
 Exchange(NSE) shortly.
 
 6.  INCREASE IN AUTHORISED SHARE CAPITAL AND SPLITTING OF SHARES
 
 During the year Company increased its authorized share Capital from Rs.
 6,00,00,000/-(six crore) to Rs.  25,00,00,000/- (twenty five crore)
 vide special resolution passed through postal ballot conducted as per
 section 192A of the Companies Act 1956 read with the Companies (passing
 of resolution by Postal Ballot) Rules,2001 of which result declared on
 11th Day of December,2010.
 
 During the year shares of the company splitted from 1 equity share of
 Rs. 10/- each into 10 equity shares of Re.  1/- each. Presently the
 face value of the equity share of the company is Re. 1/- per share.
 
 7.  BONUS SHARES ISSUED
 
 The Company issued 4,96,70,000 Bonus shares for Rs. 1/- per share in
 the proportion of 1 (one) new Equity share for every 1 (one) existing
 Equity Share held by Shareholders as on 27/12/2010, thereby increasing
 the Paid-up Capital of the Company to Rs.9,93,40,000/- ; vide special
 resolution passed through postal ballot conducted as per section 192A
 of the Companies Act 1956 read with the Companies (passing of
 resolution by Postal Ballot) Rules,2001 of which result declared on
 11th Day of December,2010.
 
 8.  DIRECTORS
 
 During the year Mr. Mangilal Bohra has resigned from the office of
 Director due to pre-occupation. The Board records its sincere
 appreciation of the valuable services rendered by Mr. Mangilal Bohra to
 the Board and the management of the Company during his tenure.
 
 Mr. Jay Prakash Gandhi was appointed as an additional director of the
 Company with effect from 05/11/2010 under section 260 of the Companies
 Act 1956. He holds the office upto the date of ensuing Annual General
 Meeting. The Company has received notice in writing from members under
 Section 257 of the Companies Act 1956 alongwith requisite deposit
 proposing the candidature of Mr. Jay Prakash Gandhi for the office of
 Directors.
 
 In accordance with the provisions of the Companies Act, 1956 and the
 Articles of Association of the company Mr.  Lalit kumar Gandhi, Ms.
 Nisha Makwana and Mr. Sandeep Shah retires by rotation and being
 eligible, offers themselves for re-appointment.
 
 9.  DIRECTORS'' RESPONSIBILITY STATEMENT
 
 In terms of Section 217 (2AA) of the Companies Act, 1956 the Directors
 would like to state that:
 
 1.  In the preparation of the Annual Accounts, the applicable
 accounting standards have been followed alongwith proper explanation
 relating to material departures;
 
 2.  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 at the end of the financial year and of the profit or
 loss of the company for the period;
 
 3.  The Directors have taken proper and sufficient care for the
 maintenance of adequate accounting records in accordance with the
 provisions of this Act for safeguards in accordance with the provisions
 of this Act for safeguarding the assets of the company and for
 preventing and detecting frauds and other irregularities;
 
 4.  The Directors have prepared the Annual Accounts on going concern
 basis.
 
 12.  DEPOSITS
 
 During the year Company has not accepted any deposits under Section
 58-A of the Companies Act, 1956.
 
 13.  PARTICULARS REQUIRED TO BE FURNISHED BY THE COMPANIES (DISCLOSURE
 OF PARTICULARS IN THE REPORT OF THE BOARD OF DIRECTORS) RULES, 1988
 
 The Company has no activities relating to conservation of energy or
 technology absorption. There has been no foreign exchange earning or
 outgo during the year under review.
 
 14.  PARTICULARS OF EMPLOYEES COVERED UNDER THE (PARTICULARS OF
 EMPLOYEES) RULES, 1975
 
 The company does not have any employee in the category as specified
 under Section 217 (2A) of the Companies Act, 1956.
 
 15.  AUDITORS AND AUDITORS'' REPORT
 
 M/s Raman M Jain & Co., Chartered Accountants, retires as auditors of
 the company at the ensuing Annual General Meeting and are eligible for
 re-appointment.
 
 The notes to the accounts referred to in the Auditors Reports are self
 explanatory, and, therefore do not call for any further comments.
 
 13. ACKNOWLEDGEMENTS
 
 Your Directors record their appreciation for the valuable services
 rendered by all the employees of the company, their gratitude to the
 Banks and to the Members of the Company for their support.
 
                              For and on behalf of Board of Directors
 
 Place : Ahmedabad                                 Lalit Kumar Gandhi
 
 Date :August 18th, 2011                 Chairman & Managing Director