Radha Madhav Corporation

The Directors have pleasure in presenting the Fourth Annual Report
 together with the Audited Accounts for the year ended on 31st March,
 2008. 
 
 FINANCIAL RESULTS
 
                                                31,3.2008    31.3.2007 
                                                  in Lacs     in Lacs.
 
 Sales and other Operational Income               6395.22     9066.67
 
 Profit before Depreciation & Tax                 2497.52      977.29
 
 Less: Depreciation                                377.56      110.09
 
 Profit After Depreciation & before Tax           2119.96      867.21
 
 Provision for Tax (including Deferred, 
 Fringe Benefit Tax and Provision
 for Wealth Tax)                                   709.97      260.97
 
 Profit after tax                                 1409.99      606.24
 
 Balance brought forward from Balance sheet        916.67      310.44
 
 Balance carried to Balance Sheet                 2265.29      916.67
 
 PERCENTAGE GROWTH OVER THE PREVIOUS YEAR
 
 PARTICULARS                           % Growth over the Previous Year
 
 Sales and other Operational Income               80.82
 
 Profit before Depreciation & Tax                 55.55
 
 Profit after tax                                132.58
 
 OPERATIONS
 
 Your Company recorded a significant growth in performance in the Y
 2007-2008.
 
 Your Company recorded a turnover of Rs. 16395.22 Lac 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. Profit
 before Tax increased by 155%from Rs. 977.29 Lacs to Rs. 2497.52 Lacs.
 Whereas as the Profit After Tax increased by 144% from Rs. 867.21 Lacs
 to Rs.2119.96 Lacs. Your management made all efforts to increase
 revenue and market share while developing new products. The Year
 witness wonderful results and the coming year hold lots of hope for new
 development in the Company. The year under review was a year of Project
 Implementation including Greenfield Uttaranchal Project and a
 Substantial expansion in Daman. Your Company has an integrated
 manufacturing block enabling production of multi process products.
 
 Interest and Depreciation have been substantial in Comparison to our
 previous year.  Since most of the machinery were still in installation
 phase or had not contribution to the sales, Interest and Depreciation
 has been very high as a percentage of Sales.
 
 DIVIDEND
 
 With a view to conserve the resources of the Company, the Directors do
 not propose to recommend any Dividend.
 
 SUBSIDIARY COMPANY
 
 The Company has incorporated One Wholly Subsidiary Company on 5th May,
 2008.
 
 INCREASE IN CAPITAL, UTILIZATION OF PREFERENTIAL ISSUE PROCEEDS &
 FINANCE
 
 The Company has raised/received funds against issue of various
 securities on preferential basis for setting up of project in. the
 state of Uttaranchal and Union Territory of Daman and to fulfill the
 additional fund requirement for normal capital expenditure and
 manufacturing facilities and funding of long term working capital
 requirements. The Company borrowed from Banks for Term Loan and Working
 Capital requirement for part finance of the Project.
 
 DEPOSITS:
 
 The Company has not accepted Deposits within the meaning of section 58A
 of the Companies Act 1 956.
 
 DIRECTORS
 
 In accordance with the requirements of the Companies Act 1 956, Mr.
 Anil Agrawal, Mr. Mitesh Agrawal and Mr. Kanubhai Patel will retire by
 rotation and, being eligible, have offered themselves for
 re-appointment. Mr. Ramesh Bhandari resigned from Directorship during
 the year.
 
 AUDITORS:
 
 The present Auditors of the Company H. P. Shah Associates, Chartered
 Accountants, Vapi, will retire at the conclusion of ensuing Annual
 General Meeting and being eligible, offer, them-selves for
 re-appointment to hold the office till the conclusion of next Annual
 General Meeting.
 
 They have submitted certificate for their eligibility for reappointment
 under section 224(1 -B) of the Companies Act, 1956.
 
 AUDIT COMMITTEE:
 
 The Board of Directors has constituted an Audit Committee as per the
 existing clause 49 of the Listing Agreements entered into with Stock
 Exchanges and in terms of Section 292(A) of the Companies Act, 1956.
 
 CORPORATE GOVERNANCE:
 
 A Separate section on Corporate Governance and a certificate from
 Companys Auditor regarding compliance of the conditions of the
 corporate governance as stipulated under clause 49 of the Listing
 Agreements with the Stock Exchanges forms part of this Annual Report.
 
 Certificate of CEO and CFO, inter alia, confirming the correctness of
 the financial statements, adequacy of the internal measures and
 reporting of matters to the audit committee in terms of the clause 49
 of the listing agreements with Stock.Exchanges, is also attached as a
 part of this Annual Report.
 
 INSURANCE
 
 All the properties of your Company including Factory, Building, Plant &
 Machinery, stock etc., are adequately insured.
 
 PARTICULARS OF EMPLOYEES
 
 None of the employees of the Company was paid remuneration of Rs.
 24,00,000/- p.a. or more for the year or Rs. 2,00,000/- p.m. or more
 and hence the information required under section 21 7 (2-A) of the
 Companies (Particulars of Employees) Rules, 1 975 is not required to be
 given.
 
 CONSERVATION OF ENERGY Power and fuel Consumption:
 
                                  31.3.2008     31.3.2007
 
 (1) Electricity
 
 Purchased units                  51,54,951     38,81,942
 
 Total Amount (Rs.)             1,43,52,189   1,12,77,309
 
 Rate per Unit (Rs.)                   2.78          2.90
 
 (2) Own Generator
 
 Fuel (Diesel) (Ltr)                  6,000        32,684
 
 Total Amount (Rs.)                2,04,782       1164766
 
 Rate Per Litter (Rs.)                34.13         35.63
 
 Furnace Oil                       1,51,418        28,020
 
 Total Amount (Rs.)               36,77,083      5,40,790
 
 Rate Per Litter (Rs.)                   24            19
 
 LPG Cylinder {Kg.}                   34020          8820
 
 Total Amount {Rs.}              15,55,5891      3,55,952
 
 TECHNOLOGY ABSORPTION:
 
 The technology required for the industry is indigenous as well as
 imported.
 
 FOREIGN EXCHANGE EARNING & OUTGO:
 
                        31.3.2008    31.3.2007
                        Rs. in Lac   Rs. in Lac
 
 Earning                  425.14      39.67
 
 Outgo                   5565.54   2,821.14
 
 Most of the Foreign Exchange Outgo is for Purchase of Capital Goods for
 the Company.
 
 DIRECTORS RESPONSIBILITY STATEMENT:
 
 Your Directors confirm:
 
 i) That in the preparation of the annual accounts, the applicable
 accounting standards had been followed and that no material departures
 have been made from the same.
 
 ii) That they 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) That they had taken proper and sufficient care for the maintenance
 of adequate accounting records in accordance with the provisions of
 this Act for safeguarding the assets of the Company and for presenting
 and detecting fraud and other irregularities.
 
 iv) That they had prepared the annual accounts on a going concern
 basis.
 
 APPRECIATION
 
 Your Directors wish to express their grateful appreciation for the
 assistance and Co-operation received from Banks, Government Authorities
 and Shareholders during the year under review. Your Directors also wish
 to place on record their appreciation for the services rendered by our
 people at all levels in the Company and for their Contribution towards
 success of the organization.
 
 
                           For and on Behalf of the Board
 
                                     sd/-
 
 Place : Daman                  Anil Agrawal
 Dated : 26th June 2008         Chairman