The Board of Directors (Board) have pleasure in presenting the
 Sixteenth Annual Report along with the Audited Accounts for the period
 ended on 30th June, 2010 (the period under review the period).
 
 FINANCIAL PERFORMANCE:
 
 (Amount in Rupees)
 
                             Consolidated             Standalone
 
 Particulars            30.06.2010  31.03.2009   30.06.2010  31.03.2009
                        15 months   12 months    15 months    12 months
 
 Total Revenue      99,01,44,690 66,56,53,585   89,11,85,506 61,73,94,267
 
 Total Expenditure  78,45,47,210 47,32,63,773   62,11,46,147 44,09,05,276
 
 PBDT               20,55,97,480 19,23,89,812   27,00,39,363 17,64,88,991
 
 Interest            2,26,89,989    10,67,652    2,14,37,777     8,18,547
 
 Depreciation        2,24,47,122  1,25,03,072    1,37,80,573    99,17,166
 
 Profit before Tax  25,07,34,591 17,88,19,088   23,48,21,013 16,57,53,278
 
 Provision for 
 Income Tax          4,10,90,953  2,05,55,702    3,34,72,582  1,87,79,847
 
 Fringe Benefit Tax            0     4,41,770           0.00     2,72,123
 
 Deferred payment 
 against tax            3,24,322     6,87,983       2,02,135     1,34,273
 
 Profit after Tax   20,93,19,316 15,71,33,633   20,11,46,296 14,65,67,035
 
 Add: - Balance 
 brought forward    52,98,17,216 41,02,78,216   50,86,61,008 39,96,79,984
 from previous year
 
 Amount available 
 for               73,91,36,592  56,74,11,849   70,98,07,304 54,62,47,019
 Appropriation
 
 Profit available for
 appropriation which is
 appropriated as follows:
 
 Proposed Dividend 
 6%(               1,45,18,788    1,95,98,536   1,45,18,788   1,95,98,536
 Previous year 12.5%)
 
 Preference Share 
 Dividend                8,562          8,562             0             0
       
 Amount transferred 
 to General        2,01,14,630    1,46,56,705   2,01,14,630   1,46,56,704
 Reserve
 
 Corporate Dividend 
 Tax                 24,11,389      33,30,771     24,11,389     33,30,771
 
 Profit carried 
 forward to
 Balance Sheet    68,96,52,088   52,98,17,276  66,03,31,362  50,86,61,008
 
 EPS                      0.85           1.39          0.92          1.41
 
 DIVIDEND:
 
 Your Directors are pleased to recommend a final dividend @ 6 % i.e. Rs.
 0.06 per Equity Share, subject to the approval of Shareholders in the
 Annual General Meeting.
 
 OPERATIONS:
 
 During the period under the review, as per the Consolidated Accounts,
 the Company has achieved Sales income for the period ended 30th June,
 2010 Rs. 99,01,44,690/- as against Rs.66,56,53,585/-forthe year ended
 31st March, 2009 registering a marginal growth of 48.75 %.  The
 Consolidated profit after tax for the current period is
 Rs.20,93,19,316/- as compared to Rs. 15,71,33,633/-for the previous
 year registering a raise of 33.21%. The profit before Interest,
 Depreciation and Tax for the current period is Rs. 20,55,97,480 as
 compared to Rs. 19,23,89,812/-for the previous year registering a raise
 of 6.87%.
 
 ACTIVITIES DURING THE PERIOD:
 
 Companys digitization activity has been stable through out the period
 and has added new services in its conversion activity especially in the
 E Publishing arena. The Company is now converting the data with current
 readable popular devices like iPad, Kindle & sony readers.  More and
 more publishers are looking at the opportunity to convert their back
 titles compatible to these devices. The Company finds this as huge
 opportunity and actively pursuing with its existing clients and also
 expanded its horizon in marketing to other non-English speaking
 European publishers.
 
 With opening of its subsidiary in UAE, Company is planning to shift the
 scanning and indexing business to subsidiary as it requires more and
 more on site support and logistically UAE will be able to support this
 activity much more easier.
 
 The Company has also proposed to diversify its business through its
 Subsidiary, to start an e commerce platform called Coral Hub Online
 shopping. This e commerce portal has been floated by the subsidiary of
 the Company, very recently and caters to only Indian market. It has
 variety of products and made a soft launch to test the market. The real
 marketing of this portal would start from the New Year once we have
 many more products to offer. So far the response to this e commerce
 platform from Indian public is very encouraging.
 
 Companys subsidiary Basiz Fund Accounting services continue to show
 very high profit margin and have won many more hedge funds accounts. It
 is expected to cross 5 mn USD turnover very shortly. It is also looking
 for acquisition abroad to expand its market reach.
 
 EXTENSION OF FINANCIAL YEAR:
 
 The Company has extended its financial year for a further period of
 three months, that is the Companys financial year commencing from 1st
 April, 2009 and ending on 31st March, 2010 be extended upto and
 inclusive of 30th June, 2010 and that the accounts be prepared for the
 said financial year comprised of 15 months from 1st April, 2009 to 30,h
 June, 2010.
 
 CHANGE OF NAME AND OBJECTS OF THE COMPANY :
 
 The name of the Company has been changed to Coral Hub Limited w.e.f.
 9th July, 2010 subsequent to the approval of members obtained through
 Postal Ballot.
 
 Further subsequent to the approval of Shareholders through Postal
 Ballot the Company has also altered its main objects and the other
 objects under the Object Clause no. Ill of the Memorandum of
 Association of the Company.
 
 FUTURE PROSPECTS:
 
 The Company would like to concentrate more in the arena of xml
 conversion and typesetting as publishing industry is going in that
 direction. The Company is planning to revamp its production
 infrastructure with investment in high performance hardware and will
 also add its software suites, as this is required in order to face the
 competition.
 
 Since the delivery model of the books is slowly changing from print
 model to digital model and that too with introduction of multi
 functional devices the publishers are very keen to step up the
 availability of their books compatible to these devices. Your company
 finds this as a major opportunity to exploit and it has geared itself
 to take these challenges.
 
 In order to exploit the growing on line shopping market, your company
 has diversified into this as major activity , through its Subsidiary
 and has opened up on line shopping plaza to cater to Indian market. The
 rationale behind starting this activity is that Indian online shopping
 market is estimated at Rs.100 billion and it is growing at the rate of
 30% every year. Out of 60 million Internet users, about 10% shop
 online. With broadband & 3G penetration into interiors of India that
 would increase online shopping. According to Nielsen Report Online
 Shopping 2010,8 out of 10 Indian in metros shop online and out of this
 more than a quarter spend 11 % of their monthly purchases in online
 shopping. Your Company is all set to have a share in this market and
 can increase the shareholders value, as we would start the brand
 building exercise from the ensuing New Year.
 
 The future prospects of all our subsidiaries are very exciting as they
 have great plans to expand their activity and market reach. Our
 subsidiaries in India and UAE are expected to post good results in the
 coming years.
 
 SUBSIDIARY COMPANIES:
 
 In the month of November, 2009, the Company has invested in Ambition
 Clothing Private Limited (Earlier known as Ambition Industries Pvt.
 Ltd.) situated in MEPZ Special Economic Zone at Chennai, which is
 dealing in readymade Garments. The Company holds 91% Equity Shares of
 Ambition Clothing Private Limited .
 
 During the period, the Company has also formed a Wholly Owned
 Subsidiary with the name VITL FZE, at Sharjah Airport International
 Free Zone (SAIF), UAE to carry on general trading activities.
 
 The Company has three Indian subsidiaries namely Coral Hub Publishing
 Private Limited, (Earlier known as Coral Hub Online Services Pvt. Ltd.)
 Basiz Fund Service Private Limited, Ambition Clothing Private Limited,
 (Earlier known as Ambition Industries Pvt. Ltd.) and two foreign
 subsidiaries namely Digital Content Solutions Limited, United Kingdom
 and VITL FZE, UAE and three step down subsidiaries, namely Basiz India
 Fund Services Private Limited, Basiz Fa Services Singapore Pte.
 Limited, Singapore and Basiz Investment Accounting (UK) Limited, United
 Kingdom which are subsidiaries of Basiz Fund Service Private Limited.
 
 As required under Section 212 of the Companies Act, 1956, the audited
 statement of accounts along with the Report of the Board of Directors
 and respective Auditors Report thereon of all the subsidiary companies
 for the period ended on respective financial year are annexed and forms
 part of this Annual Report.
 
 DIRECTORS:
 
 Mr. D. M. Shirodkar and Mr. Ghanshyam Joshi, Directors of the Company,
 retire by rotation and being eligible, offers themselves for
 re-appointment at the ensuing Annual General Meeting (AGM). Pursuant to
 Clause 49 of the Listing Agreement, the detailed profile of the
 Directors retiring by rotation is provided in the Notice convening the
 Annual General Meeting.
 
 Mr. G. S. Vishwanathan has resigned from position of Whole Time
 Director w.e.f. 1st August, 2010 and from directorship of the Company
 w.e.f. 30th August, 2010. The Board wishes to place record its
 appreciation for the service provided by him during the tenure as
 Director as well as Whole Time Director.
 
 EMPLOYEE STOCK OPTION SCHEME 2008:
 
 In pursuance of shareholders approval obtained on 23rd November, 2007
 your Company formulated and implemented an Employee Stock Option Scheme
 (the ESOS 2008) for grant of Stock Options to all permanent employees
 and Whole Time Directors of the Company. The Remuneration Committee of
 the Board of Directors is entrusted with the responsibility of
 administering the Scheme and in pursuance thereof. The Remuneration
 Committee had granted Stock Options equivalent to 5,15,450 Equity
 Shares of Rs. 10/- each on 12th June 2008 to Employees and Whole Time
 Directors of the Company. Due to Sub-division of Equity Shares, all the
 employees and Whole Time Directors were entitled for 10 Equity Shares
 of Re.1/- each on exercise of each Option of the ESOS 2008.Thus Stock
 Options were increased from 5,15,450 to 51,54,500 Stock Options.
 
 Out of 51,54,500 Stock Options, 44,05,800 Stock Options has been
 exercised at the exercised price of Rs. 5/- each by the employees and
 Whole Time Directors of the Company in April and May, 2009.
 
 During the period under review, 1,88,660 Stock Options have been
 exercised at the exercised price of Rs. 5/- each by the employees the
 Company and the Company had allotted 1,88,660 Equity Shares of Re. 1/-
 each in the Meeting of Board of Directors held on 11th June, 2010 to
 the employees who have exercised options granted to them. Pursuant to
 the aforesaid allotment of Shares under ESOS, Paid Up Share Capital of
 the Company is increased to Rs.  24,19,79,795/-.
 
 Additional information on ESOS as required by Securities and Exchange
 Board of India (Employees Stock Option Scheme and Employees Stock
 Purchase Scheme) Guidelines, 1999 is as Annexure I and forms part of
 this Report.
 
 The Companys Auditors, M/s. K. P. Joshi & Co., Chartered Accountants,
 Mumbai have certified that the Scheme has been implemented in
 accordance with the SEBI Guidelines and the resolution passed by the
 members at the Extra-Ordinary General Meeting held on 23rd November,
 2007.
 
 The period between grant of option and vesting is not less than 12
 months as per the SEBI guidelines. The vested options can be exercised
 by the grantee by communicating to the Company in writing to exercise.
 
 PUBLIC DEPOSITS:
 
 The Company has not accepted any Public Deposits under Section 58Aof
 the Companies Act, 1956 during the period under review.
 
 DIRECTORS RESPONSIBILITY STATEMENT:
 
 Pursuant to the requirement under Section 217 (2AA) of the Companies
 Act, 1956 with respect to the Directors Responsibility Statement, it
 is hereby confirmed:
 
 (i) that in the preparation of the annual accounts for the financial
 period ended 30th June, 2010, the applicable accounting standards had
 been followed along with proper explanation relating to material
 departures.
 
 (ii) that the Directors had 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 period and of the
 profit or loss of the company for the period under review.
 
 (iii) that the Directors had taken proper and sufficient care 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) that the Directors had prepared the accounts for the period under
 review on a going concern basis.
 
 CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
 EARNINGS AND OUT GO:
 
 The information relating to conservation of energy, technology
 absorption, foreign exchange earnings and outgo required under Section
 217 (1) (e) of the Companies Act, 1956 read with Companies (Disclosure
 of Particulars in the Report of Board of Directors) rules 1998 are
 detailed below.
 
 Conservation of Energies: The operations of your Company are not energy
 intensive, therefore impact of energy saving devices are insignificant.
 Adequate measures have however, been taken to reduce energy consumption
 by using energy efficient Computer terminals and by the purchase of
 energy efficient equipment of latest technology.
 
 Research & Development (R&D): Your Company continues to make investment
 in research and development which is crucial to its continued success.
 
 Technologies absorption: Your Company continues to use the latest
 technologies for improving the productivity and quality of its
 services. Your Company has continued to invest in the latest services
 and workstations.
 
 Foreign Exchange earnings and outgoings: During the period under
 review, earning in Foreign Exchange is Rs. 88,36,78,263/- (Previous
 year was Rs. 61,08,57,165/-) and Foreign Exchange Remittance is
 Rs.22,14,185/-(Previous yearwasRs. 10,45,325/-).
 
 PARTICULARS OF EMPLOYEES:
 
 Statement pursuant to sub section 2A of Section 217 of the Companies
 Act, 1956 read with the Companies (Particulars of Employees) Rules,
 1975 and forming part of this Report is given in Annexurell.
 
 AUDITORS:
 
 M/s. K. P. Joshi & Co., Chartered Accountants, Mumbai, who are the
 Statutory Auditors of the Company hold office upto the conclusion of
 the forthcoming Annual General Meeting. They have expressed their
 willingness to continue as Statutory Auditors for the financial period
 2010- 11 and accordingly, a resolution proposing their appointment is
 being submitted to the ensuing Annual General Meeting. The members are
 requested to consider their re-appointment for the current financial
 period 2010-11 and authorize the Board of Directors to fix their
 remuneration.
 
 CONSOLIDATED FINANCIAL STATEMENTS:
 
 As required under Clause 41 of the Listing Agreements with the Stock
 Exchanges, the Consolidated Financial Statements have been prepared in
 accordance with the requirements of Accounting Standards 21 Issued by
 the Institute of Chartered Accountants of India. The audited
 Consolidated Financial Statements form part of the Annual Report. The
 consolidated financial statements presented by the Company include the
 financial information of its subsidiary. The information for each
 subsidiary company is also in disclosure in a separate annexure with
 consolidated Balance Sheet.
 
 MANAGEMENT DISCUSSION AND ANALYSIS REPORT AND REPORT ON CORPORATE
 GOVERNANCE:
 
 Pursuant to Clause 49 of the Listing Agreements with the Stock
 Exchanges, the Management Discussion and Analysis Report, the Report on
 Corporate Governance and the certificate from the Auditor of the
 Company regarding compliance of conditions of Corporate Governance are
 annexed to this Report and forms part of this Annual Report.
 
 With a view to strengthening the Corporate Governance framework, the
 Ministry of Corporate Affairs has incorporated certain provisions in
 the Companies Bill, 2009. The Ministry has issued a set of voluntary
 guidelines in the second half of December, 2009 for adoption by the
 Companies. The Guidelines broadly provide for appointment of directors
 (including independent directors),guiding principles to remunerate
 directors, responsibilities of the Board, risk management, the enhanced
 role of Audit Committee, rotation of audit partners and firms and
 conduct of secretarial audit. Your Company while already complying by
 and large with these various requirements has already initiated
 appropriate action for compliance.
 
 ACKNOWLEDGEMENTS:
 
 The Directors take the opportunity to thank ail investors, business
 partners, clients, vendors, bankers and advisors for their continuous
 support during the period.
 
 Your Directors also wish to place on record their appreciation for the
 dedication with which the employees at all levels performed their
 duties and for their cooperation and support during the period.
 
                               By order of the Board of Directors
 
                            Sd/-                             Sd/
                  (G. S. Chandrashekar)             (Dilip Parekh)
                  Chairman and Director       Whole Time Director
 
 PLACE: Mumbai
 DATE: 28.10.2010