Dear Members,
 
 The Directors have pleasure in presenting the 14th Annual Report of
 your Company together with the audited accounts for the year ended 31st
 March 2011.
 
 FINANCIAL RESULTS                                ( Rs. in lacs)
 
 Particulars                                  31.03.2011    31.03.2010
                                          (Current year)  (previous year)
 
 Income from Operations and other income        1983.82      1397.30
 
 Profit before Depreciation and Tax              331.59       235.33
 
 Less: Depreciation                              263.85       256.47
 
 Profit /(Loss) before Tax                        67.74       (21.14)
 
 Less: Provision for Taxes                        24.23         2.73
 
 Profit / (Loss) after tax transferred to 
 Reserves & Surplus                               43.51       (23.87)
 
 Review of Operations and Performance:
 
 You will be glad to note that your company registered a growth of
 41.97% in turnover from Rs. . 1397.30 lacs in 2009- 10 to Rs. . 1983.82 in
 2010-11. Your Company earned a net profit of Rs. .43.51 lacs in 2010-11
 instead of net Loss of Rs.23.87 lacs during the previous financial year
 2009-10. Turnover increased due to the primary eye care centers opened
 in Mettuppalayam, Salem and Tertiary eye care hospital opened in
 Cochin.
 
 Dividend : Your Director have not recommended any dividend for the year
 under review.
 
 Outlook for the current year.
 
 Your company will establish infrastructure facilities for separate
 super speciality for Cornea and Retina at Peelamedu Main Hospital,
 Coimbatore.
 
 Your company is on the look for better infrastructure facilities either
 own or rented at Salem the existing facility at Peramanur East, Salem
 does not have lift facility and the space is not adequate.
 
 Your Company is on the look off to find a better building at Tirupur so
 that the present building can be shifted to the new facilities.
 
 Corporate Social Responsibilities:
 
 In its role as a socially responsible corporate citizen, your Company
 reaches out to the needy sections of the society in many ways. In line
 with this policy, your Company has been continuously organizing many
 free eye camps along with trust to provide free eye treatment to people
 below the poverty line.
 
 Opportunities and Threats:
 
 Through there is a stiff competition in eye care, our company is
 reasonably doing well. It is because of the established name for
 quality eye care and increase in demand for eye care in the public.
 
 Our company is situated at South India and faces competition from other
 hospitals in the home town. We have introduced new departments in
 Ophthamology and additional facilities for patients in Coimbatore and
 other centers.
 
 The remaining objects are being pursued.
 
 Unutilized IPO funds are held as investment in deposit account of Rs.
 88.52 lacs, Current account of Rs. 2.91 lacs. An amount of 5J. 646.92
 lacs has been used to reduce the term liability from ICICI Bank and
 Indian Overseas bank to reduce interest cost as an interim measure
 pending deployment towards Objects of the issue.
 
 Competition:
 
 The competition from the un-organized sector would be met by delivering
 quality eye care on par with international standards which the
 un-organized sector lacks in view of constraints in investment to
 create a quality eye hospital.
 
 Because of increased opportunities, many private players are entering
 into this sector. Your Company can counter this challenge by providing
 focused eye care delivery and by deploying the state of the art
 equipments backed by panel of expert Doctors.
 
 Shortage of Skilled Manpower:
 
 Increasing demand for health care services combined with the aggressive
 expansion by the Indian private health care players is expected to
 significantly increase the demand for medical professionals. Similarly
 there is a shortage of medical and para-medical staff. We have a
 talented and skilled manpower in terms of Doctors, Nurses and
 para-medical staff. We continue to attract talented and skilled medical
 professionals.
 
 Capital Investment:
 
 The total capital investment including the work in progress incurred up
 to March 2011 was Rs. 799.79 lacs which were related to the construction
 and Interior of building at Peelamedu, Mettupalayam, Salem II and
 Cochin and the purchase of medical equipments and infrastructures. This
 capital expenditure was met through IPO, Internal generation as well as
 building loan availed from Banks.
 
 Directors:
 
 Mr.D.R.Kaarthikeyan and Dr. Yogesh Shah retire by rotation at the
 forthcoming Annual General Meeting and being eligible, offer themselves
 for re-appointment.
 
 Directors'' Responsibility Statement: The Directors confirm that
 
 I.  In the preparation of annual accounts the applicable accounting
 standards have been followed.
 
 II.  Appropriate accounting policies have been selected and applied
 consistently, and judgement and estimates that have been made are
 reasonable and prudent so as to give a true''and fair view of the
 company at the end of the financial year and of the company for that
 period.
 
 III. Proper and sufficient care has been taken 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
 the preventing and detecting fraud and other irregularities.
 
 
 IV.  Annual accounts have been prepared on going concern basis.
 
 Particulars of Employees:
 
 As on 31st March 2011, none of the employees were in receipt of
 remuneration in excess of the limits prescribed in sub- section 2A of
 section 217 of the Companies Act, 1956, read with Companies
 (Particulars of Employees) Amendment Rules 1994.
 
 Information as per section 217 (1) (e) of the Companies Act, 1956:
 
 Since the Company is in service industry and does not do any
 manufacturing activity, the particulars regarding conservation of
 energy and absorption in the (Disclosure of Particulars in the Report
 of the Board of Directors) Rules 1988 are not applicable. The
 particulars regarding foreign exchange inflow and outflow appear as
 item no.10 in Notes on Accounts.
 
 Fixed Deposits:
 
 Your company has not accepted any fixed deposits from the public.
 
 Report of Corporate Governance:
 
 The Company has complied with the requirement of the corporate
 governance in terms of the listing agreements with the Stock Exchanges.
 The detailed report on corporate governance is annexed and forming part
 of this report.
 
 Compliance certificate on corporate governance:
 
 A certificate from the auditors of the Company regarding compliance of
 conditions of corporate governance as stipulated under clause 49 of the
 Listing Agreement entered into with the Stock Exchanges is attached to
 this report.
 
 Auditors:
 
 M/s. Vekam and Associates, Chartered Accountants, the Auditors of the
 Company retire at the forthcoming Annual General Meeting have confirmed
 their eligibility and willingness to accept the office of the Statutory
 Auditors, if re- appointed.
 
 Acknowledgement:
 
 Your directors thank the Shareholders, suppliers, customers and bankers
 for their continued support during the year.  Your directors also place
 on record their appreciation of the contribution made by the employees
 at all level towards the growth of the Company.
 
 
 for and on behalf of the Board
 (Sd.) Dr. S.K. Sundaramoorthy
 Chairman and Managing Director
 
 Place : Coimbatore
 Date  : 04th August, 2011