The Directors have pleasure in presenting the SIXTY NINTH ANNUAL
 REPORT, with the Audited Accounts for the year ended March 31, 2012.
 
 FINANCIAL RESULTS
 
                                                         Rs.
 Income from operations
 & other Income                                  33,95,51,823
 
 Profit before Depreciation and Taxation         15,11,39,029
 
 Depreciation                                       52,77,408
 
 Profit before Taxation                          14,58,61,621 
 
 Provision for Taxation
 (Net of MAT credit entitlement of 
 Rs.1,96,00,000)                                    32,00,000
 
 Profit after Taxation                           14,26,61,621
 
 Surplus carried from previous year                 20,41,770
 
 Amount available for appropriation              14,47,03,391
 
 Which your Directors
 recommend to appropriate :
 
 Transfer to General Reserve                      6,00,00,000
 
 Special Interim Dividend on
 
 Equity Shares @ Rs. 100/- per share              6,27,35,000
 
 Tax on Special Interim Dividend                  1,01,77,185
 
 Proposed Final Dividend on
 Equity Shares @ Rs. 10/- per share                 62,73,500
 
 Provision for tax on Final Dividend                10,17,719
 
 Surplus carried to Balance Sheet                   44,99,987
 
                                           14,47,03,391
 
 DIVIDEND
 
 The company has paid a Special Interim Dividend of Rs.  100/- per share
 ( 1000% ) for the financial year 2011-2012.  Your Directors have now
 recommended a final dividend of Rs. 10/-per share (100%) on the Equity
 Shares out of the profits for the year. The aggregate Dividend for the
 year 2011-2012 amounts to Rs. 110/- per share (1100 %).
 
 OPERATIONS
 
 Tea production during the year was 13.54 lacs Kgs with an average yield
 of2570 kgs. per hectare against 13.16 lacs Kgs with an average yield of
 2480 kgs. per hectare during last year. Apart from this there is also a
 production of 6.32 Lacs kgs of bought leaf as against 5.46 Lacs Kgs
 during the previous year. The sale average during the year was at Rs.
 94.73/- per Kg as against the last years sale average of Rs.  94.24
 / - per Kg.
 
 DIRECTORATE
 
 During the year, Mr. Habib Hussain and Mr. WD.Nelson ceased to be
 members of the Board consequent to their resignation on 31st October
 2011. The Board accepted their resignation and places on record its
 appreciation and gratitude for the valuable services rendered by them
 during their tenure as Directors of the Company.  Mr.M.M. Karunakaran
 and Mr. Oliver L.D. were co-opted as additional directors of the
 company on 3rd November, 2011. They hold office upto the date of the
 ensuing Annual General Meeting under Section 260 of The Companies Act,
 1956. The company has received notice under Section 257 of The
 Companies Act, 1956 from a member intending to propose
 Mr.M.M.Karunakaran and Mr. Oliver L.D. for their Directorships.
 
 In accordance with the Articles of Association of the company, Mr.Ajit
 Thomas and Mrs. Shanthi Thomas, Directors retire by rotation and are
 eligible for re-election.
 
 AUDITORS
 
 M/s Suri & Co, Chartered Accountants, auditors of the Company retire at
 the conclusion of the ensuing Annual General Meeting and being eligible
 offer themselves for reappointment. They have confirmed that their re-
 appointment, if made will be within the limits prescribed under Section
 224 (1B) of the Companies Act,1956.
 
 COST AUDITORS
 
 The company was required to get its cost accounts maintained under
 Section 209(1)(d) of The Companies Act, 1956 in respect of plantation
 products audited in terms of an order issued by the Cost Audit Branch,
 Ministry of Company Affairs (MCA), New Delhi. The Cost Audit of the
 company was conducted by M/s. Rajendran, Mani & Varrier, Practicing
 Cost Accountants, appointed with the approval of MCA in the manner
 provided in the General Circular 15/2011 dated April 11, 2011 issued by
 MCA. In terms of the said Circular, full particulars of the Cost
 Auditors alongwith other details pertaining to the Cost Audit are
 annexed.
 
 Details of Cost Auditor : M/s. Rajendran, Mani & Varier
 
 Practicing Cost Accountants XXXIX/5360, Alappat Building Alappat Road,
 Ravipuram Ernakulam - 682016 Registration No. 00006 Due & actual date
 of filing of : September 27, 2011 Cost Audit Report for the year ended
 March 31, 2011
 
 DEPOSITS
 
 No deposits remained unclaimed or unpaid during the year under report.
 
 PARTICULARS OF EMPLOYEES
 
 The Company has not incurred expenditure on employees to the extent
 specified in Section 217 (2A) of the Companies Act 1956, and hence no
 statement is attached to this report.
 
 LISTING WITH STOCK EXCHANGES
 
 As per the requirements of Clause 49 of the Listing Agreement with the
 Stock Exchanges, the Company confirms that the listing of its shares
 continued through out the year with the following stock exchanges:
 
 1.  Bombay Stock Exchange Limited.
 
 2.  Madras Stock Exchange Limited.
 
 3.  Coimbatore Stock Exchange Limited.
 
 CONSERVATION OF ENERGY
 
 The information required under 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 set out in the Annexure.
 
 CORPORATE GOVERNANCE
 
 The Code on Corporate Governance pursuant to revised Clause 49 of the
 Listing Agreement with the Stock Exchanges was made applicable to the
 Company with effect from 3rd November, 2011. Accordingly the Management
 Discussion & Analysis Report and Report on Corporate Governance with
 Certificate on compliance with conditions of Corporate Governance have
 been annexed to this report.
 
 FOREIGN EXCHANGE EARNINGS AND OUTGO
 
 During the year under review, the Companys Foreign Exchange Earnings
 amounted to 12,38,22,669/-. The total outgo on Foreign Exchange
 amounted to Rs. 21,55,682/-.  Details are set out in Note 23 of the
 Notes on Accounts.  The Company has continued to maintain focus and
 avail of export opportunities based on economic considerations.
 
 DIRECTORS RESPONSIBILITY STATEMENT
 
 Pursuant to the requirements under Section 217 (2AA) of The Companies
 Act, 1956 with respect to Directors Responsibility Statement, your
 Directors report that :
 
 i) The annual accounts have been prepared by following the applicable
 accounting standards.
 
 ii) The accounting policies selected have been applied consistently and
 judgments and estimates that were reasonable and prudent, have been
 made so as to give a true and fair view of the state of affairs of the
 Company as at the end of the financial year and of the profit of the
 Company for the financial year.
 
 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
 preventing and detecting fraud and other irregularities.
 
 iv) The annual accounts have been prepared on a going concern basis.
 
 SECRETARIAL COMPLIANCE
 
 Pursuant to proviso to Section 383 A (1) of the Companies Act, 1956
 Certificate to the effect that the Company has complied with all the
 provisions of the Companies Act, 1956 is obtained from a Secretary in
 Whole-time practice for filing with the Registrar of Companies and a
 copy of such Certificate is attached to this Report.
 
 GENERAL
 
 The Directors take this opportunity to place on record their
 appreciation of the contribution made by the employees at all levels to
 the operations of the Company. The Directors also thank the Bankers of
 the Company for the co-operation and assistance extended to your
 Company.
 
                                           On Behalf of the Board
 
 Place : Chennai                                      Ajit Thomas
 
 Date : 24.05.2012                                       Chairman