To the Members of ENSA STEEL INDUSTRIES LIMITED
 
 The Directors have pleasure in presenting the 28th Annual Report
 together with the Audited Statement of Accounts of the Company for the
 year ended 30th June, 2012.
 
 FINANCIAL RESULTS
 
                                                      (Rupees in Lacs)
 
 Particulars                              Year Ended       Year Ended
                                          30-06-2012       30-06-2011
 
 OPERATING PROFIT (PBIDT)                      (1.76)           (0.74)
 
 Interest                                       0.07             0.28
 
 GROSS PROFIT                                  (1.83)           (1.02)
 
 Depreciation                                  80.96            93.80
 
 PROFIT/(LOSS) BEFORE TAX                     (82.79)          (94.82)
 
 Provision for Tax                                 -                -
 
 NET PROFIT/(LOSS) AFTER TAX                  (82.79)          (94.82)
 
 Transfer to General Reserve                       -                -
 
 Balance carried to Balance Sheet             (82.79)          (94.82)
 
 
 
 
 DIVIDEND
 
 In the absence of profit, your directors do not recommend any dividend.
 
 OPERATIONS
 
 During the year under review, the Company''s turnover declined to Rs.
 129.61 lacs against Rs.443.19 lacs in the previous year. Your Company
 has incurred a Loss of Rs. 82.79 lacs in the current year in compared
 to loss of Rs. 94.82 lacs in the previous year.
 
 MANAGEMENT DISCUSSION AND ANALYSIS
 
 A separate report on Management Discussion and Analysis is enclosed as
 a part of the Annual Report
 
 REPORT ON CORPORATE GOVERNANCE
 
 In Pursuance of the system of Corporate Governance Instituted by SEBI,
 forming part of the Listing Agreement with the Stock Exchanges, a
 report thereon is saperately attached to this report.
 
 DIRECTORS
 
 Shri J.C. Sandesara and Shri T. R. Thakkar, Directors of the Company,
 retire by rotation at the ensuing Annual General Meeting and being
 eligible offer themselves for re-appointment. The Board recommends
 their re-appointment.
 
 DIRECTORS'' RESPONSIBILITY STATEMENT
 
 As required under Section 217(2AA) of the Companies Act, 1956, the
 Directors confirm:
 
 i) That in the preparation of the Annual Accounts for the year ended
 30th June, 2012, 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 judgements 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
 loss of the Company for the year under review;
 
 iii) That the Directors have 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; and
 
 iv) that the Directors have prepared the Annual Accounts for the year
 ended 30th June, 2012 on a ''going concern'' basis.
 
 FIXED DEPOSITS
 
 The Company has not accepted any deposits from the Public during the
 year under review.
 
 AUDITORS AND THEIR REPORT
 
 M/s. H. S. Hathi & Co., Chartered Accountants, Auditors of the Company
 shall retire at the forthcoming Annual General Meeting and having
 furnished Certificate pursuant to Section 224(1B) of the companies Act,
 1956,they being eligbile have given their consent for re-appointment.
 The Board recommends their re-appointment. The observations made by the
 Auditors are self explanatory and have been dealt with in the notes
 forming part of the Accounts and hence need no further clarification.
 
 PARTICULARS OF EMPLOYEES
 
 No employee of the Company is covered under the provisions of Section
 217(2A) of the Companies Act, 1956, read with the Company''s
 (Particulars of Employees) Rules 1975 as amended.
 
 We have examined the attached Cash Flow Statement of Ensa Steel
 Industries Limited for the year ended 30th June 2012 and 30th June,
 2011. The statement has been prepared by the company in accordance with
 the listing agreements of the Stock Exchanges and is based on and in
 agreement with the corresponding Profit & Loss Account and Balance
 Sheet of the Company covered by our report of the even date to the
 members of the Company.
 
 PARTICULARS OF ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN
 EXCHANGE EARNINGS AND OUTGO:
 
 In accordance with the provisions of Section 217(1)(e) of the Companies
 Act, 1956 the required information relating to conservation of energy,
 technology absorption is not applicable. There was no foreign exchange
 earnings and outgo during the year under review.
 
 ACKNOWLEDGEMENT
 
 Your Directors take this opportunity to express their appreciation for
 the assistance and continued co-operation extended by Bankers and Local
 Governments. Your Directors are also pleased to record their
 appreciation of the valued contribution, devotion and sense of
 commitment extended by the employees of the Company.
 
 
 
 
                                      For and on behalf of the Board
 
                                            R. J. Sandesara-Director
 
 Place : Mumbai                             J. C. Sandesara-Director
 
 Date : 27th August,2012