To The Members of Hisar Metal Industries Limited
 
 The Directors have pleasure in presenting before you 22nd Annual Report
 together with Audited Statement of Account of the Company for the year
 ended 31st March, 2012.
 
 1.  PARTICULARS   
 
                                        2011-12          2010-11 
 
 Sales and Other receipts 
 (Net of excise duty)            1,97,77,83,035   1,45,52,28,532 
 
 Profit before depreciation and
 Taxation                           2,88,19,988      3,17,61,063 
 
 Less: depreciation                 2,54,17,450      2,38,58,278
 
  Profit after depreciation           34,02,538        79,02,785 
 
 Less:Provision for Taxation
 Current                         Year 38,75,681        37,45,177
 
 Deferred Tax                        (23,65,092)      (10,87,693)
 
 Previous Year Tax                       46,020          (83,936)
 
 Profit afterTaxation                 18,45,929        53,29,237
 
 Add profit brought forward         3,61,36,861      3,49,91,634
 
 Profit available for appropriation 3,79,82,790      4,03,20,871
 
 Dividend&Tax on dividend             41,84,010        41,84,010
 
 Surplus carried to Balance Sheet   3,37,98,780      3,61,36,861
 
 2.   DIVIDEND
 
 The Directors recommend a dividend of 10% per annum for the year ended
 31 st March, 2012.
 
 3.  COMPANY''S BUSINESS GROWTHAND PROSPECTS
 
 The company has been showing good performance. The turnover has
 increased from Rs. 15926 Lac to Rs. 21625 Lac showing a growth of 36%.
 The PAT has gone down from Rs. 53.29 Lac to Rs. 18.46 Lac mainly on
 account of higher input cost and higher depreciation.
 
 4.  FIXED DEPOSITS
 
 There was no such fixed deposit with the Company as matured and
 remained unpaid at the end of the year.
 
 5.  PARTICULARS OF THE EMPLOYEES
 
 None of the employees of the Company is covered under the provision of
 Section 217 (2A) of the Companies Act, 1956.
 
 6.  CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
 EARNINGS AND OUTGO
 
 The particulars prescribed by the Companies (Disclosures of Particulars
 in the Report of the Board of the Directors) Rules, 1988 are given
 inAnnexure which forms part of Directors Report.
 
 7.  COMPLIANCE OF GUIDELINES OF SEBI/STOCK EXCHANGE
 
 We have duly complied with all the guidelines issued by SEBI/Stock
 Exchange.
 
 8.  DIRECTORS'' RESPONSIBILITY STATEMENT
 
 As required pursuant to the Companies (Amendment) Act, 2000, the Board
 of Directors confirm as under:
 
 a) That in the preparation of the annual accounts, the applicable
 accounting standards have been followed along-with proper explanation
 relating to material departures.
 
 b) The directors had 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 of the
 Company for that year.
 
 c) That the Directors had taken proper and sufficient care 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, and
 
 d) That the Directors had prepared the annual accounts on going concern
 basis.
 
 9.  DIRECTORS
 
 Mr. Rahul DevTayal, Mr. Sharat Jain and Mr. Ganesh Dutt being the
 longest in office retire in this meeting and being eligible, offers
 themself for re-appointment.
 
 10.  CORPORATE GOVERNANCE
 
 Your Company has in all material aspects complied with the conditions
 of Corporate Governance as contained in Clause 49 of the Listing
 Agreement. A separate report each on Corporate Governance and
 management discussion and analysis along-with Auditors certificate is
 given elsewhere in this report as Annexure and forming part of this
 report.
 
 11.  AUDITORS
 
 The Auditors of the Company M/s Ram Sanjay & Company, Chartered
 Accountants, Hisar retire at the conclusion of ensuing Annual General
 Meeting and being eligible offer themselves for re-appointment.
 Necessary Certificate pursuant to section 224(1 B) of the Companies
 Act, 1956 has been obtained from the Auditors.
 
 12.  COST AUDITORS
 
 The Company has approved the appointment of M/s Naveen Gupta & Company,
 Cost Accountants, as Cost Auditor for conducting Cost Audit of the
 Company for the financial year 2011-12
 
 13.  INSURANCE
 
 The properties and assets of the Company to the extent required are
 adequately insured.
 
 14.  ACKNOWLEDGEMENT
 
 The Board of Directors thank and deeply acknowledge the co-operation,
 assistance and support provided by all the stakeholders viz workers,
 shareholders, bankers, customers, dealers, vendors, Government and the
 regulators.
 
 Registered Office :        For and on behalf of the Board of Directors
 
 Near Industrial 
 Development Colony,
 
 Delhi Road, Hisar - 
 125 005 (Haryana)                    (M. P. JINDAL)
 
 Dated : 27th August, 2012               CHAIRMAN