The Directors have pleasure in presenting the 6th Annual Report
 together with the Audited Accounts of your Company for the Year ended
 31st March, 1999.
 
 FINANCIAL RESULTS                                     (Amt.Rs. in Lacs)
 
 SR.NO.   PARTICULARS                                 1998-99    1997-98
 
 1.       Sales & Other Incomes                        222.98     159.04
 
 2.       Profit (Loss) Before Taxation               (89.20)    (73.04)    
 
 3.       Provision for Taxation                          NIL        NIL
 
 4.       Profit (Loss) After Taxation                (89.20)    (73.04)
 
 5.       Prior period Adjustments (Net)                 Nil      22.96
 
 6.       Loss on investment                              Nil     (3.28)
 
 7.       Brought Forward Profit (Loss)               (82.09)    (28.73)
 
 8.       Balance Carried to Balance Sheet           (171.30)    (82.09)
 
 THE PROJECT AND PERFORMANCE :
 
 Despite of recession in the industrial sector throughout the year, your
 company has made a sales growth of around 40% during the current year.
 However due to the poor monsoon and late rains in the Saurashtra Region
 a prime source of raw materials of quality and heavy interest and
 finance charges the profitability of the company was adversely
 affected.
 
 In view of the loss incurred by your Company during the year under
 review your directors does not recommend dividend for the year 1998-99.
 
 PERSONNEL :
 
 Since there is no employee in the Company drawing monthly Salary of Rs.
 50,000/- or more, the provisions of Section 217 (2A) of the Companies
 Act, 1956 are not applicable.
 
 MATTER REQUIRED TO BE REPORTED AS PER COMPANIES (DISCLOSURE OF
 PARTICULARS IN THE REPORT OF THE BOARD OF DIRECTORS) RULES, 1988.
 
 A. CONSERVATION OF ENERGY
 
 Continious efforts are put in to consume energy at all levels.
 
 B. TECHNOLOGY ABSORPTION.
 
 The Company is carrying R. & D. on its products.  The Company is making
 efforts to improve its technology resulting in to cost reduction and
 product development.  The Company has not imported any technology
 during tile year under review.
 
 C. F0REIGN EXCHANGE EARNING AND OUTGO :- Nil
 
 DIRECTORS
 
 Mr. R. A. Jamal being longest in the office as director shall retire
 from office by rotation at the forthcoming Annual General Meeting and
 he is eligible to offer himself for reappointment.
 
 Mr. S. R.  Shah, Mr. A. A. Andani and Mr. B. M. Patel have been
 appointed as additional directors w.e.f.  17-10-98, 01-01-99 and
 01-01-99 respectively and Mr. S. R. Shah and Mr. B. M. Patel have been
 appointed as whole time director w.e.f. 01-02-99 for a period of five
 years and Mr. A. A. Andani has been appointed as the Chairman and
 Managing Director w.e.f. 01-02-99 for 4 period of five years.
 
 The Managing Director Mr. D. B. Patel has resigned from the board
 w.e.f.  from 27-10-98.  Mr. M. H. Alarakhia and Mr. H. D. Dedhia has
 resigned as director w.e.f. 01-03-99.
 
 AUDITORS :
 
 M/S. Dinesh R. Thakkar & Co., Chartered Accountants, Ahmedabad, the
 Auditors of the Company retires, at the conclusion of the forthcoming
 Annual General Meeting and being eligible offers themselves for
 reappointment.
 
 Y2K COMPLIANCE :
 
 Your company has made preparations to enable its systems to operate
 normally.