To The Members of Narmada Macplast Drip Irrigation Systems Limited 
 Ahmedabad
 
 The Directors have pleasure in submitting herewith the 20th Annual
 Report of the Company with the audited statements of accounts for the
 year ended 31st March, 2012.
 
 FINANCIAL RESULTS:                                 (Rs. In Lacs)
 
 Particulars                               For the Year   For the Year 
                                           2011-2012      2010-2011 
 
 Turnover & Other Income                        19.50          20.63
 
 Net Profit before Depreciation & Write Offs     5.00           6.50
 
 Less: Depreciation                              5.57           6.92
 
 Net Loss Before Extra Ordinary Item            (0.57)         (0.42)
 
 Add; Extra Ordinary Item                         Nil            Nil
 
 Net Profit for the year                        (0.57)         (0.42)
 
 Less: Past Losses B/F                        (231.59)       (231.17)
 
 Loss to be carried forward to Balance Sheet  (232.16)       (231.59)
 
 OPERATIONS:
 
 During the year, your Company has achieved a turnover and earned other
 income of Rs. 19.50 Lacs in comparison to the turnover of Rs. 20.63
 Lacs of the previous year.
 
 DIVIDEND:
 
 Due to past accumulated losses still suffered by the Company, your
 directors do not recommend any dividend for the current year.
 
 DIRECTORS:
 
 In accordance with the provisions of the Companies Act, 1956 and the
 Articles of the Association of the Company, Mr. Vinesh Babaria and Mr.
 Ketanbhai Baldha, Directors of the Company, retire by rotation at the
 ensuing Annual General Meeting and being eligible offer himself for
 re-appointment.  Also Mr. Kantibhai devani who was appointed as an
 additional Director on the Board of the company is hereby regularized.
 
 DIRECTORS'' RESPONSIBILITY STATEMENT:
 
 Pursuant to Section 217(2AA) of the Companies Act, 1956, the Directors
 state that:
 
 (i) In the preparation of the annual accounts, the applicable
 accounting standards had been followed along with the proper
 explanation relating to material departures if any;
 
 (ii) The directors had selected such accounting policies and applied
 them consistently and made judgments and estimates that are 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 of the profit or
 loss of the Company for that period.
 
 (iii) 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;
 
 (iv) The directors had prepared the annual accounts on a going concern
 basis.
 
 PARTICULARS OF EMPLOYEES:
 
 There are no employees falling under the purview of Section 217(2A) of
 the Companies Act, 1956 read with the Companies (Particulars of
 Employees) Rules, 1975.
 
 CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION:
 
 The Manufacturing Activities of the Company have been stopped due to
 lack of funds and hence there is no expenditure for power in factory.
 Electrical Expenditures however have been incurred for running the
 Corresponding administrating office of the company.
 
 MANAGEMENT DISCUSSION AND ANALYSIS:
 
 Pursuant to Clause 49 of the Listing Agreement with the Stock
 Exchanges, Management Discussion and Analysis Report are annexed
 herewith and form part of this Report.
 
 AUDITORS:
 
 M/s S. D. Mehta & Co., Chartered Accountants, Statutory Auditors of the
 Company is recommended for re-appointment. The Company has received a
 certificate from them that their appointment, if made would be within
 the prescribed limits u/s 224(1)(B) of the Companies Act, 1956.
 
 APPRECIATION:
 
 Your Director wish to place on record their appreciation for the
 cooperation and continued support extended to the Company by all
 Government Authorities, Banks and Shareholders. Your Directors express
 their appreciation for the dedicated and science service rendered by
 the employees of the Company.
 
                              FOR AND ON BEHALF OF BOARD OF DIRECTORS
 
                                                                Sd/-
 
                                                    VRAJLAL VAGHASIA 
 
                                        Chairman & Managing Director
 
 Date: 21st August, 2012 
 
 Place: Ahmedabad