The Directors have the pleasure in presenting the 22nd Annual Report
 together with Audited Accounts of the Company for the year ended on
 31st March, 2012.
 
 FINANCIAL RESULTS
 
 The performance of the Company for the financial year ended 31st March,
 2012 is summarized below:
 
                                                (Rs. in Lacs)
 
 PARTICULARS                    Current Year    Previous Year
                                     2011-12          2010-11
 
 Total Income                       30821.78         27782.78
 
 Profit before Interest,
 
 Depreciation & Taxes                2531.75          1949.36
 
 Less: Interest                      1346.66           930.70
 
 Profit before depreciation          1185.09          1018.66
 
 Less: Depreciation                   362.16           277.14
 
 Profit/(Loss)                        822.93           741.52
 
 Provision for Taxation               264.44           245.55
 
 Net Profit/(loss)                    558.49           495.97
 
 Add: Balance Brought Forward         679.58           695.08
 
 Profit available for Appropriation  1238.07          1191.05
 
 Proposed Dividend                     74.40            74.40
 
 Corporate Dividend Tax                12.07            12.07
 
 Transferred to General Reserve       500.00           400.00
 
 Transferred to Contingency Reserve        -            25.00
 
 Balance Carried over to Balance 
 Sheet                                651.60           679.58
 
 YEAR IN RETROSPECT
 
 The Company has achieved total Turnover of Rs. 30821.78 lacs and Profit
 before Tax Rs. 822.93 lacs and Profit after Tax Rs. 558.49 lacs.
 
 During the year the Company has undertaken expansion of capacity for
 manufacture of PVC/HDPE pipes & fittings and Drip Irrigation.
 
 DIVIDEND
 
 Your directors are pleased to recommend a dividend of 15% for the year
 ended 31st March, 2012 on 49603520 equity shares of Rs. 1/- each
 aggregating to Rs. 74.40 lacs.
 
 CORPORATE GOVERNANCE
 
 The Company has complied with the mandatory provisions on Corporate
 Governance as prescribed in the Listing Agreement with the Stock
 Exchanges. A separate report on Corporate Governance is included as a
 part of the Annual Report along with the Auditors'' Certificate on its
 compliance.
 
 SECRETARIAL COMPLIANCE CERTIFICATE
 
 In pursuance of Section 383A of the Companies Act, 1956, a certificate
 issued by Company Secretary in Whole time practice is enclosed herewith
 and forming part of this report.
 
 DIRECTORS'' RESPONSIBILITY STATEMENT
 
 Your Directors hereby confirm that: -
 
 1.  In the preparation of Annual Accounts, the applicable accounting
 standards have been followed along with the proper explanation relating
 to material departures.
 
 2.  The Directors have selected such accounting policies and applied
 them consistently and have made judgment and estimates that are
 reasonable and prudent so as to give true and fair view of the state of
 affairs of the Company as at end of the financial year ended 31st
 March, 2012 and of the Profit and Loss Account of the Company for that
 period.
 
 3 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.
 
 4. The Directors have prepared the Annual Accounts for the year ended
 31st March, 2012 on a going concern basis.
 
 HOLDING COMPANY
 
 Pursuant to High court order at Indore Bench dated 01.11.2011 and
 Certificate of Registration of Order with Registrar of Companies for
 above order on the Scheme of Amalgamation of Companies dated 27.02.2012
 being effective date of the scheme, Sakam Trading Private Limited
 became holding company of your company as shareholding in the company
 of Kriti Corporate Services Private Limited, Kriti Auto Accessories
 Private Limited and Kasta Pipes Private Limited (Transferor Companies)
 are Merged with Sakam Trading Private Limited (Transferee Company).
 
 All the above companies belong to the same promoter group.
 
 SUBSIDIARY COMPANY
 
 Kriti Auto & Engineering Plastics Private Limited, wholly owned
 subsidiary of the company, achieved gross turnover of Rs.2431.90 lacs
 representing a profit after tax of Rs. 17.96 lacs.
 
 The statement pursuant to Section 212 of the Companies Act, 1956
 containing the details of the Company''s subsidiary is attached.
 
 AUDITORS AND AUDITOR REPORT
 
 M/s. R. D. Asawa & Co., Chartered Accountant, Indore the Auditors of
 the Company retire at the conclusion of the ensuing Annual General
 Meeting and being eligible offer themselves for re-appointment.
 
 DIRECTORS
 
 Mr. Manoj Fadnis and Mr. Rakesh Kalra, retire by rotation at the 22nd
 Annual General Meeting and being eligible offers themselves for
 re-appointment.
 
 STATUTORY INFORMATION
 
 PUBLIC DEPOSIT
 
 The company has not received/accepted any deposits from public during
 the year under review.
 
 PARTICULARS OF EMPLOYEES
 
 The Company does not have on its roll any employee drawing remuneration
 attracting provisions of section 217(2A) of the Companies Act, 1956
 read with the Companies (Particulars of Employees) Rules, 1975.
 
 CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
 EARNINGS & OUTGO
 
 Information as per section 217(1)(e) read with Companies
 
 (Disclosure of Particulars in the report of the Board of Directors)
 Rules, 1988 is annexed hereto and forms part of this report.
 
 INDUSTRIAL RELATIONS
 
 Your directors'' wish to place on record their appreciation for the
 contribution made by the company''s workforce at all levels of
 operations for the success and progress of the company.
 
 ACKNOWLEDGEMENT
 
 Your Directors place on record their appreciation of the co-operation
 and assistance extended by the Central/State Government and Banks. The
 Directors also convey their sincere thanks for the continued support
 given to the Company by the esteemed shareholders, suppliers, dealers
 and valued customers.
 
                                  FOR & ON BEHALF OF THE BOARD, 
                                              Managing Director
 
 Place: Indore 
 Date: 28th July, 2012