The Chairman speaks......
 
 An idea that is developed and put into action is more important than
 an idea that exists only as an idea.— Lord Buddha.
 
 This quote, I believe, is what has been the essence behind the journey
 of this unforgettable year. It has been a year as we used
 implementation as the key to stay ahead in our business.
 
 This year your Company recorded a turnover of Rs. 1 63.95 Crore which
 was higher by 81% as compared to last year There was increase in sales
 due to the production by new unit which was set-up by the Company in
 Daman In this year your Company saw price of US/barrel in Q1 and
 US0/barrel in Q4. As a reflection of the same, our operating profit
 was 24.66% in Ql which deteriorated to 1 4.69% in Q4. The year under
 review was a year of Project Implementation including Greenfield
 Uttaranchal Project and a Substantial expansion in Daman.
 
 Your Company is in active discussions with various overseas potential
 clients. Your Company is focussing specially on various markets in
 America, Europe and Middle East. Your Company will continue to thrive
 on the basis of its high end technologies, competencies to grow
 indigenous products of world class standards.
 
 We want our people to enjoy their work, be proud of their work while
 underlying their personal growth. We continue modernization and
 upgradation of our manufacturing process and product range. I believe
 Indian consumer is becoming more aware of safety and health need and is
 more discerning and demanding. The year 2007-08 also witnessed
 intensive efforts from the Management to strengthen the total workforce
 of the organization.
 
 We look forward to serious challenges in coming year and delivering
 improved result and growth., I am confident that the Company would meet
 those challenges with strength. I have no doubts about the great future
 which lies ahead for the Company and its shareholders. People who have
 not just invested money but faith as well in our success, we owe it to
 them and to ourselves to keep the momentum going.
 
 We aim not to restrict ourselves to only manufacturing of packaging
 products, but rather work towards developments of new products, their
 applications and provide holistic solutions in the arena of packaging.
 
 I conclude this note by taking opportunity to warmly thank our People,
 our Shareholders, our Board of Directors, Customer Suppliers and
 Business Associates for their efforts, kind support and encouragement
 
 Anil Agrawal
 Chairman