Dear Members,
 
 The Directors have pleasure in presenting the SIXTY EIGHTH ANNUAL
 REPORT, with the Audited Accounts for the year ended 31st March, 2011.
 
 FINANCIAL RESULTS
 
                                                     Rs.  
 Income from operations
 & other Income                             20,67,29,518
 
 Profit before Depreciation and Taxation     3,73,93,232
 
 Depreciation                                  51,99,773
 
 Profit before Taxation                      3,21,93,459
 
 Provision for Taxation - Current Tax          37,00,000
 
 Profit after Taxation                       2,84,93,459
 
 Surplus carried from previous year            44,85,139
 
 Amount available for appropriation          3,29,78,598 
 Which your Directors recommend to 
 appropriate :
 
 Transfer to General Reserve                 2,00,00,000 
 
 Proposed Dividend on
 
 Equity Shares at Rs. 15/- per share           94,10,250
 
 Provision for tax on Dividend                 15,26,578
 
 Surplus carried to Balance Sheet              20,41,770
 
                                             3,29,78,598
 
 DIVIDEND
 
 Your Directors have recommended a dividend of Rs.15/- per share on the
 Equity shares out of the profits for the year.
 
 OPERATIONS
 
 Tea production during the year was 13.16 lacs kgs with an average yield
 of 2480 kgs. per hectare against 12.73 lacs kgs with an average yield
 of 2357 kgs. per hectare during last year. Apart from this there is
 also a production of 5.46 Lacs kgs of bought leaf as against 6.84 Lacs
 kgs during the previous year. The sale average during the year was at
 Rs. 94.24 per kg as against the last year''s sale average of Rs. 97.48
 /- per kg.
 
 INVESTMENTS
 
 As part of the company''s diversification activities, for taking
 advantage of the emerging global business opportunities, the company
 has invested an amount of Rs. 90,20,000/- towards advance against
 equity in the overseas Joint Venture Company viz Midland Natural Pte.
 Ltd., in the Republic of Singapore for doing trading in Spices.
 
 DIRECTORATE
 
 Mr. C.R. Dorai Raj has ceased to be a member of the Board on account of
 his sad demise on October 12, 2010. Your Directors wish to place on
 record their appreciation for the invaluable services rendered by him
 during his tenure as Director of the company.
 
 Mr.W.D.Nelson was co-opted as additional director of the company on
 February 03, 2011. He holds office upto the date of the ensuing Annual
 General Meeting under Section 260 of The Companies Act, 1956. The
 company has received a notice under Section 257 of The Companies Act,
 1956 from a member intending to propose Mr.W.D.Nelson for his
 Directorship.
 
 In accordance with the Articles of Association of the company,
 Directors Mr.A.D.Bopana and Mr.S.Rajasekar 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.
 
 DEPOSIT
 
 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.
 
 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.
 
 FOREIGN EXCHANGE EARNINGS AND OUTGO
 
 During the year under review, the Company''s Foreign Exchange Earnings
 amounted to 10,31,60,853/-. The total outgo on Foreign Exchange
 amounted to Rs. 1,14,53,132/-.  Details are set out in Schedule 20(B),
 item 5 (a), (b), (c) & (d) of the Notes on Accounts. The Company has
 continued to maintain focus and avail of export opportunities based on
 economic considerations.
 
 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
 
                                                         Ajit Thomas
                                                            Chairman
 
 Place : Chennai 
 Date : 30.05.2011