The directors have pleasure in presenting the 27th Annual Report
 together with audited statement of accounts for the financial year
 ended 31st March, 2012.
 
 OPERATION REVIEW:
 
 The automobile market remained stagnant during the year and sales of
 our main customer Maruti Suzuki India Limited is went down. Maruti
 Suzuki India Ltd sold in domestic market a total of 10,06,316 vehicles
 in 2011-12. The total sales numbers in 2011-12 was lower by 11.20% over
 preceding financial year. Maruti Suzuki''s domestic sale in 2010-11
 was 11,32,739 vehicles.
 
 During the year, your company has installed 7 new injection Moulding
 machines for manufacturing of automotive components at Manesar plant.
 
 During the year the Manesar Plant of the company has met with an
 accident causing two causalities.  Company has paid a compensation of
 Rs.5 lacs each to the families of the deceased. Company has all
 industrial risk policy in force for the period of accident. Company has
 lodged a claim with the insurance company.
 
 During the year your company forayed into the business of Volvo.
 
 FINANCIAL REVIEW:
 
 Financial Performance                     (Rs. In Lacs)   (Rs. In Lacs)
                                              2011-12         2010-11
 
 Income from operation (net of excise)        15235.05        15905.71 
 
 Other Income                                   220.48         1069.17 
 
 Profit (before financial charges, 
 depreciation and tax)                         1612.51         2853.45 
 
 Financial charges                              480.02          470.74 
 
 Depreciation                                  1179.51         1153.50 
 
 Profit before tax                              (47.02)        1229.21 
 
 Provision for tax (after adjustment of 
 deferred tax)                                   53.10          405.41
 
 Profit after tax                              (100.12)         823.80
 
 The turnover of the company has decreased by 4.22% approx. i.e. from
 Rs. 15905.71 Lacs in 2010-11 to Rs. 15235.05 Lacs in current year.
 Company has incurred a pretax loss of Rs.47.02 lacs as compared to
 profit of Rs.1,229.21 lacs of last year.
 
 DIVIDEND:
 
 The company is expanding and needs to preserve resources therefore for
 abundant prudence, the board of your Company has decided not to
 recommend any dividend.
 
 DIRECTORS'' RESPONSIBILITY STATEMENT:
 
 In compliance with Section 217 (2AA) of the Companies Act, 1956 as
 amended by the Companies Amendment Act, 2000, the directors of your
 company subject to notes appended to accounts and auditors'' report,
 confirm:
 
 - That in preparation of annual accounts for the financial year ended
 31st March, 2012, the applicable accounting standards have been
 followed and that there are no material departures.
 
 - That such accounting policies have been selected and applied
 consistently and such judgments and estimates made are reasonable and
 prudent so as to give & fair view of the state of affairs of the
 company at the end of the financial year as at 31st March, 2012 and of
 the profit of the Company for the year ended 31st March, 2012.
 
 - That 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
 preventing and detecting fraud and other irregularities.
 
 - That the annual accounts have been prepared on a going concern
 basis.
 
 DIRECTORS:
 
 In accordance with the provisions of the Companies Act, 1956 and
 Articles of Association of the Company, Mr. R.L. Gaggar and Mr.
 Masayuki Kamiya and Mr.  R. Krishnan retire by rotation and being
 eligible offer themselves for reappointment.
 
 LISTING:
 
 The Equity Shares of the company are listed at Bombay Stock Exchange.
 The company has paid listing fees to the stock exchange for the year
 2011-12.
 
 AUDITORS
 
 M/s Goel Garg & Company, Chartered Accountants, the statutory auditors
 of the company retire at the conclusion of ensuing Annual General
 Meeting of the company and being eligible, offer themselves for
 reappointment.
 
 AUDITORS'' REPORT:
 
 The observation of the auditors is self explanatory and / or is
 suitably explained in the notes to the accounts.
 
 CORPORATE GOVERNANCE:
 
 Pursuant to Clause 49 of the Listing Agreement with the Stock
 Exchanges, Reports on Corporate Governance and ManagementAnalysis &
 Discussion Report have been included in this annual report as a
 separate section (forming part of Directors'' Report) along with the
 Auditors'' Certificate.
 
 DEPOSITS
 
 Your company has not accepted any deposit u/s 58A of the Companies Act,
 1956 & rules made thereunder.
 
 PARTICULARS OF EMPLOYEES
 
 Details of employee of the company as specified by section 217(2A) of
 the companies Act, 1956 read with the Companies (Particulars of
 Employee) Rules, 1975 as amended by Companies (Particulars of
 Employees) Rules, 2002 are annexed hereto as Annexure-II and form part
 of the report.
 
 ADDITIONAL INFORMATION
 
 Information pursuant to section 217(1)(e) of the Companies Act, 1956
 read with the Companies (Disclosure of Particulars in the report of
 Board of Directors) Rules, 1988 is furnished hereunder:
 
 A.  CONSERVATION OF ENERGY
 
 Continuous overhauling of equipments and awareness amongst employees
 has helped to avoid wastage of energy. New investments have been made
 to monitor consumption of energy at various levels.
 
 Series of steps have been taken to identify areas of excess consumption
 of power and checks have been strengthened at these points.
 
 Data regarding energy consumed is given hereunder:
 
 Power & Fuel Consumption                         2011-12      2010-11
 
 1.  Electricity
 
 (a) Purchase units                             96,28,794  1,04,96,647 
 
 Total Cost (Rs. In lacs)                          837.34       806.39 
 
 Rate per units                                      8.70         7.68
 
 (b) Own Generation-D.G. Set
 
 Units generated                                14,15,182   10, 64,666
 
 Fuel Cost (Rs. In Lacs)                           171.43       130.38
 
 Fuel cost per unit                                 12.11        12.25
 
 2.  Coal                                             NIL          NIL
 
 3.  Furnace Oil                                      NIL          NIL
 
 4.  Other / Internal generation                      NIL          NIL
 
 B.  TECHNOLOGY ABSORPTION
 
 A statement giving details of technology absorption in accordance with
 the above Rules is annexed hereto as Annexure I and forms part of the
 Report.
 
 C.  FOREIGN EXCHANGE EARNING & OUTGO             Rs. In Lacs
 
 Total foreign exchange earning                     100.50
 
 Total foreign exchange outgo                      1583.81
 
 D.  ENVIRONMENT
 
 The Company is not involved in any type of activity hazardous to
 environment and does not discharge any trade effluents (solid, liquid
 or gaseous) causing pollutions. As an environment conscious responsible
 corporate citizen, your company has implemented GSCM (Green Supply
 Chain Management) standards and is IS014001 certified holder. The
 company has also achieved ISO18001-OHSAS certification for occupational
 health and safety.
 
 ACKNOWLEDGEMENTS
 
 Your Directors take this opportunity to gratefully acknowledge the
 valuable co-operation and assistance extended by Maruti Suzuki India
 Ltd., Suzuki Motors Corporation, Japan, Government of India, Government
 of Haryana and the Company''s bankers for their continued support and
 guidance.  Your directors also wish to place on record their sincere
 appreciation of the dedication and efforts shown by all employees of
 the company and are thankful to the shareholders for their continued
 patronage, trust and confidence in the company.
 
                          For and on behalf of the Board of Directors
 
 Place : Gurgaon                               Sd/-
 
 Date : 11.06.2012                   Executive Chairman