To The Members, Kings India Chemicals Corporation Limited 
 
 The Directors have great pleasure in presenting the 23rd Annual Report 
 on the working of the Company for the year ended 31 st March 2012 
 together with the Audited Accounts. The Financial Results for the 
 year are summarised as below:
 
 1. FINANCIAL RESULTS:-               (Rs. In Lakhs)
 
 Details               2011-2012           2010-2011
 
 i) Sales                 274.89              129.80
 
 iii) Increase in stock    42.00              -78.22
 
 iii) Other Income          2.15                1.62
 
                          319.04              -53.20
 
 iv) Total Expenditure    342.92              152.02
 
 v) Loss Before Interest 
 & Depreciation            23.88               98.82
 
 vi) Interest                  -                   -
 
 vii) Loss Before 
 Depreciation              23.88               98.82
 
 viii) Depreciation       124.40              124.70
 
 ix) Net Loss             148.28              223.52
 
 2. THE PRODUCTION AND SALES PERFORMANCE :-
 
 sl.   Product         2011-2012           2010-2011
 no                    (in Tons)           (In Tons)
 
 I.    PRODUCTION
 
 1.    Acetic Acid             -                  -
 
 2.    Acetic                  -                  -
       Anhydride
 
 3.    Ethyl             618.814             171.817
       Acetate
 4.    Acetaldehyde       62.657                   -
 
 II.   SALES
 
 1.    Acetic Acid             -                   -
 
 2.    Acetic Anhydride        -                   -
 
 3.    Ethyl Acetate     516.260             281.870
 
 3.  AAIFR :-
 
 The appeal against the order of BIFR for winding up of the company has
 been stayed by AAIFR and remanded the case back to BIFR. The company
 has filed petition before the BIFR Board for delisting and the petition
 is under consideration.
 
 4. OPERATIONS
 
 The company initiated necessary activities for establishing a
 Distillery Unit and submitted fresh EIA report for getting NOC for
 environment clearance.
 
 The Directors are confident in improving the activities of the Company.
 
 5.  DEPOSITS :-
 
 The Company has not accepted any Fixed Deposits during this year from
 the public.
 
 6.  GOVERNMENT APPROVALS :-
 
 All necessary Government approvals have been obtained.
 
 7. SAFETY :-
 
 The company has taken adequate safety measures for the plants and
 personnel.
 
 8. DIRECTORS
 
 As per section 255 of the Companies Act the sitting Directors
 Mr.R.B.Rajkumar & Mr.G.Natarajan are retiring by rotation at this
 Annual General Meeting and an being eligible offer themselves for
 reappointment.
 
 9.  EXTRA ORDINARY GENERAL MEETING
 
 An Extra Ordinary General Meeting of the Members of the Company was
 held on 31.1.2012 to consider to issue and allot 6250000 equity Shares
 of Rs. 10/- each at a price of Rs.40/- per share including a premium of
 Rs.30/- per share to the secured and unsecured creditors.
 
 10.  DIRECTORS'' RESPONSIBILITY STATEMENT :-
 
 In terms of provisions of Section 217 (2AA) of the Companies Act, 1956,
 your directors confirm :
 
 i.  That in the preparation of the annual Financial Statements
 accounts, the applicable accounting standards have
 
 been followed along with proper explanation relating to material
 departures;
 
 ii.  That the directors have 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 for that period;
 
 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;
 
 iv.  That the directors have prepared the Financial Statements on a
 going concern basis.
 
 11.  AUDITORS :-
 
 M/s. DURAIRAJ & ASSOCIATES, Chartered Accountants who were appointed as
 Statutory Auditors of the company at the Twenty Second Annual General
 Meeting held on 30th September 2011 retire at the conclusion of this
 Annual General Meeting and are eligible for reappointment.
 
 12.ACKNOWLEDGEMENT :- Your Company gratefully acknowledges the
 co-operation and support extended by the Finance Ministry, Ministry of
 Industrial Development and other departments of the Central Government,
 Government of Tamilnadu, ICICI Limited, Industrial Development Bank of
 India, Industrial Finance Corporation of India. The Company appreciates
 the contributions made by the Share holders, Officers, Staffs both
 technical and administrative and the General Public
 
                          For and on behalf of the Board of Directors
 
                        For KINGS INDIA CHEMICALS CORPORATION LIMITED 
 
                                                        R.B. RAJKUMAR
 
                                                             Chairman
 
 
 Place : Chennai-86.  
 
 Date : 29.08.2012