To the Members,
 
 The Directors have pleasure in presenting the 28th Annual Report of
 your Company together with the Audited Statements of Accounts for the
 year ended March 31, 2012.
 
                                                         (Rs. in Lacs)
 
 Financial Results 
 
                                           Year Ended      Year Ended 
 
                                           31.03.2012      31.03.2011
 
 Income                                      39,12.90         2509.77
 
 Profit before Tax                            1,43.89          279.34
 
 Less: Provision for Taxation                   48.21           37.03
 
 Add: Deferred Tax                               1.09             -
 
 Profit after Tax                               96.79          242.31
 
 Add : Profit brought 
 forward from Previous Year                   2,44.54            2.23
 
 Balance carried forward                      3,41.33          244.54
 
 DIVIDEND
 
 Due to inadequate profits in the current year, Board has not
 recommended any dividend for the Financial Year 2011-2012.
 
 SUBSIDIARY
 
 As on March 31, 2012, your Company has a Wholly Owned Subsidiary (WOS)
 in Ghana under the name of Santo win Ghana Limited (SGL) for the purpose
 of extracting gold and exporting the same to different countries. Your
 Company is also exploring the possibility of getting SGL listed on
 Ghana Stock Exchange.
 
 As required under Section 212 of the Companies Act, 1956, the Annual
 Reports together with Balance Sheet and Profit and Loss Account for the
 year ended March 31, 2012, of the subsidiary companies is attached.
 
 SUB-DIVISION OF EQUITY SHARES
 
 The Company has sub-divided the existing Equity Shares from every one
 Equity Share of Rs.2/- each into two Equity Shares of Re.l/- each in
 the capital of the Company on which the sum of Re-1/- is credited as
 fully paid up. The record date fixed for the purpose of sub division of
 Equity Shares of the Company was December 02, 2011.
 
 DIRECTORS
 
 Appointment
 
 In accordance with the provisions of the Companies Act, 1956 and
 pursuant to the provisions of Articles of Association of your Company,
 Mr. Ankush Gupta and Mr. Vinay Poddar, are liable to retire by rotation
 and being eligible, offers themselves for re-appointment in the
 forthcoming Annual General Meeting.
 
 Brief Resume of the Directors, nature of expertise in specific
 functional areas, names of companies in which the Directorship is held
 and the membership of the Committees of the Board and their
 shareholdings in the Company are given in the Notice for the ensuing
 Annual General Meeting.
 
 AUDITOR''S REPORT
 
 The observations made by the Auditors in their report are appropriately
 dealt with in the Notes forming part of the accounts for the year,
 which are self-explanatory and, hence, do not require any further
 explanations.
 
 AUDITORS
 
 You are requested to re-appoint M/s MNRD & Associates, Chartered
 Accountants, as Auditors of the Company from the conclusion of the 28th
 Annual General Meeting until the conclusion of the 29th Annual General
 Meeting of the Company.
 
 M/s. MNRD & Associates have also expressed their willingness to act as
 Auditors of the Company, if re-appointed and have further confirmed
 that the said appointment would be in conformity with the provisions of
 Section 224(IB) of the Companies Act, 1956.
 
 PUBLIC DEPOSITS
 
 During the year under review, your Company has not accepted any
 deposits from the public within the meaning of section 58A of the
 Companies Act 1956 and the rules there under.
 
 MANAGEMENT DISCUSSION AND ANALYSIS REPORT
 
 Management Discussion and Analysis Report for the year under review as
 required under Clause 49 of the Listing Agreement with the Stock
 Exchange, is given as a separate statement in the Annual Report.
 
 CORPORATE GOVERNANCE
 
 Report on Corporate Governance, in terms of Clause 49 of the Listing
 Agreement together with a Certificate from the Auditors confirming
 compliance with the conditions of Corporate Governance are annexed and
 forms part of the Annual Report.
 
 PARTICULARS OF EMPLOYEES
 
 People are the backbone of our operations. It is a matter of great
 satisfaction for your Company that our employees have been very
 supportive of your Company''s plan. Relations with employees continue
 to be cordial.
 
 There is no information as required pursuant to the provisions of
 section 217(2A)i of the Companies Act, 1956 read with the companies
 (Particular of employees) amendments rules, 1988 to be reported.
 
 PARTICULARS UNDER SECTION 217 (1)