Dear Shareholders,
 
 We at National General Industries Ltd. (NGIL) have pleasure to
 celebrate the 25th year of its existence. Along the course of journey,
 NGIL crossed many milestones which made it the finest and the most
 reputed Engineering Quality Bars manufacturer in Northern India.
 
 In 1987, NGIL started with a small rolling mill based at Ghaziabad in
 the State of Uttar Pradesh, with annual capacity of about 10,000 MT per
 annum. During the year''s with the increasing expertise in the industry,
 operations of the Company was expanded and as on date the Company has
 three mills with an approximate capacity of 22,000 MT per annum. With
 the said setup Company has most versatile configuration in order to
 produce Quality Engineering Bars. The product range of the Company
 covers all grades of alloy and stainless steel in sizes from 20mm up to
 200mm in any section whatsoever.
 
 In the same spirit, in 2010, NGIL commenced a state of the art Steel
 Foundry in Bhiwadi, Rajasthan. We congratulate you for record time in
 which this plant was set up! The steel foundry has capacity of making
 world class casting of any grade and size which may vary from 50 Kg
 upto 15,000 Kg. The casting unit is getting geared to cater to the most
 demanding customers worldwide. World class infrastructures are being
 set up in order to meet the most challenging requirements of esteemed
 customers which inter-alia includes customers from power and
 infrastructure industry.
 
 We are thankful for your continued support during the NGIL''s 25 years
 journey.
 
 We are committed to make all possible efforts to continuously enhance
 value for all shareowners of NGIL!
 
 Ashok K. Modi
 
 Chairman & Managing Director