TO THE SHARE HOLDERS:
 
 The Directors have pleasure in presenting the Twenty Sixth Annual
 Report together with the Audited Accounts for the financial year 31st
 March,2012.
 
 FINANCIAL RESULTS:
 
                                                       ( Rs.in Lacs ) 
 
                                              2011-2012     2010-2011
 
 1.  Sales/Other Receipts                         19.31         03.61
 
 2.  Gross Profit/(Loss)                          04.50        (08.91)
 
 DIRECTORS:
 
 In pursuance of the provisions of the Companies Act, 1956 and Articles
 of Association of the Company, Shri. G.S. Bhageiya, retire by rotation
 and eligible for reappointment..
 
 INSURANCE:
 
 All properties of the company including Building, Plant & Machinery,
 Equipment & other Assets, wherever necessary and to the extent required
 have not been insured as Assets were illegally possessed and sold bv
 the FI''s . Your company had Challenged the sale bv FI''s through
 writ before Honorable RHC Jodhpur.
 
 INDUSTRIAL RELATION:
 
 Industrial relations during the year under consideration have been
 cordial. The Management will always value & cherish the devotion &
 commitment demonstrated by loyal employees at all levels.
 
 PARTICULARS OF EMPLOYEE:
 
 The Company has no employees whose salary exceeds the limit prescribed
 under the section 217(2A), of the companies Act, 1956. Hence
 information required to be given under the said section read with
 Companies (Particulars of Employees) Rules, 1975 as amended w.e.f.
 April 17,2002 has not been provided in this report.
 
 DIRECTOR''S RESPONSIBILITY STATEMENT:
 
 As required under section 217(2AA) of the Companies Act, 1956 your
 Directors confirm that:
 
 1.  In preparation of the Annual Accounts, applicable accounting
 standard have been followed with proper disclosure of any departure.
 
 2.  The accounting policies are consistently applied and reasonable,
 prudent judgment and estimate are made so as to give a true and fair
 view of the state of affairs of the company at the end of financial
 year. 
 
 3.  Proper and sufficient care has been taken for the maintenance of
 adequate accounting records in accordance with the provision of the
 said Act for safe guarding the assets of the Company and for preventing
 and deducting fraud and other irregularities.
 
 4.  The Annual Accounts have been prepared on a going concern basis.
 
 CORPORATE GOVERNANCE:
 
 Pursuant to clause 49 of listing agreement with the Stock Exchanges,
 Management Discussion & Analysis, Corporate governance Report and
 Auditor''s Certificate regarding compliance of the conditions of
 Corporate Governance are made a part of this Annual Report.
 
 LISTING :
 
 The equity shares of the Company are at present listed with the Stock
 Exchange, Mumbai, The Stock Exchange, Ahmadabad, The Stock Exchange,
 Jaipur, Delhi Stock Exchange Association Limited, New Delhi.
 
 AUDITORS:
 
 The auditors M/s C.K. Jagetia & Co., Chartered Accountants, Udaipur
 retire at the ensuing Annual General Meeting and are eligible for
 re-appointment.
 
 CONSERVATION OF ENERGY / TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
 EARNING AND OUTGO :
 
 The information relating to conservation of energy, Technology
 absorption and Foreign Exchange earnings and outgo as required under
 section 217(l)(e) of the Companies Act, 1956 read with the Companies 
 Disclosure of particulars in the report of Board of Directors) Rules,
 1998 is annexed here to and forms part of the report.
 
 ACKNOWLEDGEMENT:
 
 The Directors wish to place on record their appreciation for the
 co-operation received from shareholders, valued customers, and deeply
 appreciate the commitment and dedication of employees at all levels.
 
 
                                                 By order of the Board
 
 Place: Udaipur                                       (Harish Kandhari)
 
 Date: 25.07.2012                                          Mg.Director