The Directors have Pleasure in Presenting the Annual Report together
 with audited statement of accounts for the year ended 31st March, 2012
 
 FINANCIAL HIGHLIGHTS:
 
                                         Year ended         Year ended
                                         31.03.2012         31.03.2011
                                         Amount(Rs)         Amount(Rs)
 
 Sales & Other Income                    88,962,453         53,999,030
 
 Profit/(Loss) before Depreciation        2,823,797          1,112,182
 
 Less: Depreciation                         444,225            601,677
 
 Exceptional Items                        1,638,921
 
 Profit/(Loss) after Depreciation           740,651            510,505
 
 Less: Provision for Taxation               141,131            104,150
 
 Profit/(Loss) after Taxation               599,520            406,355
 
 Balance B/f from Previous Year         (62,646,420)       (63,052,775)
 
                                        (62,046,900)       (62,646,420)
 
 Deferred Tax (Liabilities)/Assets
 
 Balance C/f to Balance Sheet           (62,046,900)       (62,646,420)
 
 DIVIDEND:
 
 The directors do not recommend dividend for year ended 31.03.2012.
 
 DIRECTOR S
 
 Shri Mahesh M Godiwala and Shri Jigar M Godiwala Directors retire at
 the ensuring Annual General Meeting, and being eligible offers
 themselves for re-appointment. The Board of directors recommend
 re-appointrrjent of directors retiring by rotation. There is no other
 change in constitution of Board of Directors during the year.
 
 It is proposed to appoint Shri Manojbhai D patel as director of company
 pursuant to notice received form share holder.
 
 DIRECTOR S RESPONSIBILITY STATEMENT
 
 Your Directors State:
 
 i) that .in the preparation of the annual accounts, the applicable
 accounting standards had been followed along with proper explanations
 relating to material departure;
 
 ii) that the Directors had selected such accounting policies and
 applied them consistently and made judgments and estimates that ate
 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 the loss
 of the Company for the period;
 
 iii) That the Directors had 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 had prepared the annual accounts in a going
 concern basis.
 
 FIXED DEPOSITS
 
 Your company has neither invited nor accepted any Fixed Deposits from
 the public during the financial year under review.
 
 CORPORATE GOVERNANCE ABD COMPLIANCE CERTIFICATE:
 
 Corporate Governance and Management Discussion and Analysis Report are
 set out as Annexure A and B respectively.  A Certificate from the
 Auditor of the Company certifying compliance conditions of Corporate
 Governance as stipulated under Clause 49 of the Listing Agreement is
 attached to this report.
 
 LISTING AGREEMENTS REQUIREMENTS:
 
 The securities of your company are traded and listed at Mumbai Stock
 Exchange.
 
 BUY-BACK OF SHARES
 
 There was no buy-back of shares during the year under review.
 
 PARTICULARS OF THE EMPLOYED:
 
 None of the employees employed during the year was in receipt of
 remuneration in excess of the Prescribed limit specified in section 217
 (2A) of the Companies Act, 1956 Hence, furnishing of particulars under
 the Companies ( Particulars of Employees) 1975 does not arise.
 
 AUDITORS
 
 M/s M M S & Associates , Surat Auditors of the Company retire at the
 ensuing Annual General Meeting. They have expressed their willingness
 for reappointment.
 
 CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION
 
 The company is engaged in trading activity and the requisite
 information with regard to the conservation of energy, technology
 absorption (Disclosures of Particulars in the report of Board of
 Directors) Rules is irrelevant/not applicable to the company during the
 year under review, the same are not reported.
 
 FOREIGN EXCHANGE EARNINGS AND OUTGO:
 
 The foreign Exchange earning and out go during the year is as per note
 no. 26 in financial statements.
 
 ACKNOWLEDGEMENTS
 
 The Board of Directors wish to place on record their appreciation for
 the co-operation and support of the Company s Bankers, its valued
 customers, employees and all other intermediaries concerned with the
 company s business.
 
 Your directors sincerely thank all members for supporting us during the
 difficult days. We look forward to your continued support and
 ritreratethat we are determined to ensure that the plans are
 successfully implemented.
 
                                         By order of Board of Directors
                                              Kiran Syntex Limited
 
 Place : Surat                                 Mahesh M. Godiwala
 
 Date : 24th August, 2012                Chairman and managing Director