Dear Members,
 
 The Directors have pleasure in presenting the Annual Report together
 with Audited Accounts of the Company for the 15 months period ended on
 31st March, 2011.
 
 FINANCIAL RESULTS
 
 The performance of the Company for the Year 2010-11 is summarized
 below:
 
                                                      (Rs. in Lacs)
 
 PARTICULARS                    Year 2010-11          Year ended
                                (15 Months )          December 2009
 
 Total Income                     45122.67                  0
 
 Profit/(Loss) before Interest, 
 Depreciation & Taxes              2479.28              (5.01)
 
 Less: Interest                    1053.37               0.01
 
 Profit before depreciation        1425.91              (5.01)
 
 Less: Depreciation                 270.65               0.06
 
 Profit/ (Loss) berofe tax after 
 depreciation                      1155.26              (5.07)
 
 Provision for Taxation             405.84                  0
 
 Net Profit/(loss)                  749.42                  0
 
 Less: Prior year Income/Expenditure  0.00               0.00
 
 Add: Transfer from reserves          0.00               0.00
 
 Add: Balance Brought Forward        (1.58)              3.49
 
 Profit available for Appropriation 747.84              (1.58)
 
 Proposed Dividend                   75.16                  0
 
 Corporate Dividend Tax              12.19                  0
 
 Transferred to General Reserve     200.00                  0
 
 Transferred to Contingency Reserve  25.00                  0
 
 Balance Carried over to 
 Balance Sheet                      435.49              (1.58)
 
 YEAR IN RETROSPECT
 
 Year 2010-11 was the first year of manufacturing operations of the
 Company after the demerger of the erstwhile solvent division of kriti
 Industries (India) Limited w.e.f 1st January, 2010. The Company has
 achieved total Turnover of Rs. 45122.67 lacs including exports of Rs.
 22155.69 lacs and Profit before Tax Rs. 1155.26 lacs and Profit after
 Tax Rs. 749.42 lacs.
 
 DIVIDEND
 
 Your directors are pleased to recommend a dividend of 15% for the
 financial year 2010-2011 on 50103520 Equity Shares of Rs. 1/- each
 aggregating to Rs. 75.15 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.
 
 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 year ended 31st March, 2011 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 period
 ended 31st March, 2011 on a going concern basis.
 
 DIRECTORS:
 
 Mr. Manoj Fadnis retires by rotation and being eligible offers himself
 for re-appointment at the ensuring Annual General Meeting.
 
 Mr. Saurabh Singh Mehta was appointed as Executive Director of the
 Company w.e.f. 1st August, 2010 in the board meeting held on 31st July,
 2010 for a period of three years. The same is being also placed before
 the ensuring Annual general Meeting for its approval.
 
 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.
 
 AUDITORS AND AUDITOR REPORT
 
 M/s. Subhash Deshpande & Co., Chartered Accountant, Indore the Auditors
 of the Company retire at the conclusion of the ensuing Annual General
 Meeting and has shown their inability to continue as Auditors of the
 Company.  Company has received notice from a member of the Company
 under section 190 of the Companies Act, 1956 for appointment of M/s.
 R.S. Bansal & Co., Chartered Accountants, as the Auditors of the
 Company from the conclusion of ensuring Annual General Meeting.
 
 The observation of Auditors in their report read with the relevant
 notes to accounts in Schedule P are self-explanatory and do not
 require further explanation.
 
 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
 
 We thank our banks, investors, clients, distributors, vendors and other
 business associates for their continued support towards conduct of
 efficient operations of the Company throughout the year.
 
 We take this opportunity to appreciate the contribution made by our
 employees at all levels for their dedicated service made towards the
 growth of the Company. Our consistent growth was made possible by their
 hard work, solidarity, cooperation and support.
 
 FOR & ON BEHALF OF THE BOARD,
 
 Shiv Singh Mehta                     Purnima Mehta
 
 Managing Director                         Director
 
 Place: Indore
 Date : 25th July, 2011