Dear Shareholders,
 
 It is my immense pleasure to present before you the 18th Annual Report
 of your Company. The growth of a company is invariably determined not
 just by its strategy but on how it responds to the challenges it
 encounters.  Over the decades of 19 years the company has successfully
 countered several challenges that have come its way with innovative
 responses and continuous improvements which have enable it to remain
 stable and even convert some of these challenges into opportunities.
 
 There is an impressive growth of 8.4% in the preceding two financial
 years. But, according to the official data the India growth rate for
 the fourth quarter in 2011-12 stood at 5.3%, the lowest in nine years
 while it was 6.5% for the full fiscal year.
 
 At Richa, We believe in the power of words. At the core of our
 Existence, as one of the fastest growing building solution Companies.
 The strength of our products, which allow us to sculpt the future of
 building solution across the globe.
 
 We remain committed to our long term strategy and will continue to
 allocate capital towards our existing operation and new projects that
 are of strategic importance. We continue to work closely with industry
 partners, suppliers, customers to map the future path for the industry
 and hence our own business.
 
 In the current competitive environment, it is not easy even to endure.
 But Richa, in view of its promises made to you, is continuously
 striving to serve you in the best possible manner, it can. During the
 year, your company has earned total revenues of Rs. 31814.73 Lacs and
 it is far better than the previous year.
 
 We are happy to announce that the board of Richa has recommended a
 final dividend of 5% on the paid up value of shares. The dividend is
 payable to the equity shareholders whose names appear in the records of
 our share Transfer Agent i.e. Link Intime India Private Limited as on
 the date of Book Closure. The payment of dividend is subject to
 approval by the shareholders on the Annual General Meeting.
 
 In Textile, we are in the process of merging of our IMT Manesar Unit to
 the Kanwara Unit for better operation. This major decision was taken by
 the board of the directors for the benefit of your Company because in
 present financial year your Company faced many difficulties and to
 overcome from those difficulties the management has taken this
 decision. Now, Despite such difficulties your Company has a stable
 growth and increasing profitability and also the graph of the sales of
 your Company is going upward.
 
 We have remained committed to protecting of our employees, ensuring
 their safety, supporting local community and safeguarding the
 Environment. Our employees have been a source of strength for us. The
 entire workforce worked as a team to fulfill the stretch targets that
 they set for themselves. Suppliers of materials and services responded
 positively to our request by offering better terms and reducing prices
 to the extent they could.
 
 Looking forward, we see exciting opportunities for growth in the PRE-
 Engineered Building and we had long way to go in this area.
 
 I would also like to thank our Board of Directors for their support and
 inputs. At the same time, I would like to pay my heartfelt thanks to
 our Bankers whose faith and cooperation helps us to climb the stairs of
 success. Their dedication and hard work are invaluable contribution to
 your company''s performance.
 
 In ending, I would like to thank my colleagues for their support and
 understanding through the year. They have collectively made the company
 what it is today, and will help lead the company into tomorrow. I would
 also like to thank our shareholder for their trust they have responds
 in the company over years.
 
 With best wishes,
 
 Sushil Gupta
 
 Chairman & Managing Director