TO THE MEMBERS OF SHALIMAR PRODUCTIONS LIMITED.
 
 FINANCIAL RESULTS
 
 The financial highlights of the Company, for the year ended are
 summarized below.
 
                                                  (Rs. in Lac)
 
                                           For the year ended
                                      31st March, 
                                      2012         31st March, 
                                                    2011
 
 Total Revenue                           78.01        82.46
 
 Less: Total Expenses                    93.88        81.22
 
 Profit/ (loss) before tax              (15.87)        1.24
 
 Deferred Tax Liability/(Assets)          0.10        (0.08)
 
 Less: Income Tax / Provision               -          0.38
 
 Profit/ (loss) After Tax               (15.97)        0.93
 
 Brought forward loss from 
 previous year                           45.32        44.38
 
 Surplus/(deficit) 
 carried to Balance sheet                29.35        45.32
 
 OPERATIONS
 
 During the year under review your company has earned a gross income of
 Rs. 78.01 Lacs for the financial year 2011-12, as compared to Rs. 82.46
 Lacs in the previous year.
 
 PUBLIC DEPOSITS
 
 Your Company has not accepted any Deposits within the meaning of
 Section 58A of Companies Act, 1956 and Rules made there under.
 
 DIRECTORS
 
 In accordance with the requirements of the Companies Act 1956, Shri
 Abhishekh Palaparthy and Chandra Shekhar Sharma will retire by rotation
 and, being eligible offered them self for re-appointment, which is
 proposed in the Notice of the ensuring Annual General Meeting.
 
 During the year Shri Rajendra Kumar Rathi was resigned from the post of
 Director of the company.
 
 Auditors
 
 M/s. Lakhpat M Trivedi & Co., Chartered Accountant, the Auditor of the
 Company, will retire at the conclusion of the ensuing Annual General
 Meeting and, being eligible; offer themselves for re-appointment to
 hold the office till the conclusion of the next Annual General Meeting.
 
 The company has received the letter from auditor to the effect that
 their appointment would be within the limits prescribed under section
 224 (IB) of the Companies Act, 1956.
 
 DEMATERIALISATION OF SHARES
 
 Your Company has connectivity with the National Securities Depository
 Limited (NSDL) & Central Depository Services (India) Limited (CDSL) for
 dematerialization of its Equity Shares. The ISIN No. INE435E01020 has
 been allotted for the Company Shares. Therefore, the members and/or
 investors may keep their shareholdings in the electronic mode with
 their Depository Participant.
 
 LISTING OF SHARES
 
 The company''s shares are listed with The Bombay Stock Exchange. Your
 Company has paid the respective Annual Listing fees up to date and
 there are no arrears.
 
 PARTICULARS OF EMPLOYEES
 
 None of the employees are paid remuneration exceeding the limit laid
 down under Section 217 (2A) of the Companies Act, 1956, read with the
 Companies (Particulars of Employees) Rules, 1975.
 
 DIRECTORS'' RESPONSIBILITY STATEMENT
 
 Pursuant to the requirement under Section 217 (2AA) of the Companies
 Act, 1956, with respect to Directors'' Responsibility* Statement, your
 directors hereby confirm:
 
 (i) That in the preparation of the annual accounts, the applicable
 accounting standards have been followed and that no material departures
 have been made from the same;
 
 (ii) That they have selected such accounting policies and applied them
 consistently and made judgments and estimates that are reasonable and
 prudent so as to given a true and fair view of the state of affairs of
 the Company at the end of the financial year 31.3.2012 and of the
 Profit or Loss of the Company for that period;
 
 (iii) That to the best of their knowledge and information, they have
 taken proper and sufficient care 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; and
 
 (iv) That they have prepared the annual accounts on a going concern
 basis.
 
 CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
 EARNING AND OUT GO
 
 Information as per section 217(l)(e) read with Companies (Disclosure of
 Particulars in the report of Board of Directors) Rules, 1988 are not
 applicable to the Company.
 
 There are no transaction involving any foreign exchange earning &
 outgo.
 
 CORPORATE GOVERNANCE AND MANAGEMENT DISCUSSION AND ANALYSIS REPORTS
 
 As required by the clause 49 of the Listing Agreement entered into with
 the Bombay Stock Exchange, a detailed Report on the Corporate
 Governance, along with the certificate of Auditor on its compliance, is
 attached in this Annual Report elsewhere.
 
 The Company is in full compliance with the requirements and disclosures
 that have to be made in this regard.
 
 The Management Discussion and Analysis Report are also appearing in
 this Annual Report elsewhere and both the aforesaid Reports are
 incorporated as reference herein.  .
 
 The Board of Directors of the Company adopted a Code of Conduct and
 posted the same on Web site. The Directors and Senior Management
 Personnel have affirmed their compliance with the said code.
 
 AUDIT COMMITTEE
 
 The Audit Committee has been constituted by the Company pursuance to
 section 292(A) of the Companies Act, 1956 and under Clause 49 of the
 Listing Agreement.
 
 ACKNOWLEDGEMENT
 
 Your Directors take this opportunity to express their grateful
 appreciation for the excellent assistance and co-operation received
 from the Banks, Government Authorities, Suppliers, Customers and all
 the local authorities.
 
 Your Directors also wish to place on record their deep sense of
 appreciation for the committed services by the employee of the company.
 
                                     By Order of the Board
                          For Shalimar Productions Limited
 
                                             Sd/- 
 
                                         Pankaj Daga
                                           Director
 
 Place : Mumbai 
 
 Date : 19.08.2012