Dear Members,
 
 The Directors are pleased to place before you the Nineteenth Annual
 Report and the Audited Accounts of the Company for the year ended 31st
 March, 2011.
 
 PERFORMANCE OF THE COMPANY
 
 your company''s financial results are summarized hereunder:
 
                                 consolidated             standalone
 particulars
                           2010-11     2009-10     2010-11     2009-10
 
 income
 
 from Operations         35,737.70   29,756.60    9,073.61    8,921.77
 
 Other                       52.88       90.34       39.82       41.98
 
 total                   35,790.58   29,846.94    9,113.43    8,963.75
 
 Profit
 
 Profit Before Interest, 
 Depreciation and 
 Taxation                 2,395.58    2,004.54      847.05      747.00
 
 Less: Interest           1,272.02      932.78      441.51      381.86
 
 Depreciation               202.52      156.10       54.20       46.67
 
 Profit Before Tax           921.04      915.66      351.34      318.47
 
 Less: Provision for Tax    213.62      301.73       91.65       85.70 
 
 (Including Deferred Tax 
 and MAT Credit 
 Entitlement)
 
 Profit After Tax            707.42      613.93      259.69      232.77
 
 Add: Surplus brought 
 forward                    638.72      501.45      638.72      501.45
 
 Less: Transfer to 
 Minority Interest          168.13      151.75           -           -
 
 Less: Transfer to Cost 
 of Investments              17.13      229.40           -           -
 
 Amount available for 
 appropriations           1,160.88      734.23      898.41      734.22
 
 APPROPRIATIONS
 
 proposed dividend 
 (including dividend tax)   111.28       90.51      111.28       90.51
 
 transfer to General 
 reserve                     16.53        5.00        5.00        5.00
 
 Surplus retained in the 
 Profit and Loss Account   1,033.07      638.72      782.13      638.71
 
 REVIEW OF OPERATIONS
 
 The Company has shown improved performance and achieved higher revenue.
 The Company has started the commercial production of Beneficiated Rock
 Phosphate during the year. The same has contributed in achieving the
 consolidated Profit after tax of Rs. 707.42 Lacs against the previous
 year Profit of Rs. 613.93 Lacs.
 
 your Company''s Profitability during the year under review has increased.
 The favourable subsidy policy announced by the Government had its
 impact on the Profitability. Sales realization from SSP fertilizers has
 improved during the year.  The Company could have achieved better
 results but there was severe shortage of Straight fertilizers
 throughout the country and the Company could not achieve its targeted
 production in NPK Mix fertilizers. your Company is confident of
 improving its existing level of performance which is expected to be
 supported by favourable SSP Policy of the Government.
 
 SUBSIDIARY COMPANIES
 
 i) shiva parvati poultry Feed private limited
 
 The Company (a 53.37% subsidiary) achieved a total turnover of Rs.
 10,416.76 Lacs and earned Rs. 106.03 Lacs of Profits After Tax.
 
 ii) Ghatprabha Fertilizers private limited
 
 The Company (a 75% subsidiary) achieved a total turnover of Rs.
 4,557.55 Lacs and earned Rs. 131.64 Lacs of Profits After Tax.
 
 iii) srinivasa agro Foods private limited
 
 The Company (a 51.01% subsidiary) achieved a total turnover of Rs.
 8,809.98 Lacs and earned Rs. 153.89 Lacs of Profits After Tax.
 
 iv) kirtiman agro Genetics limited
 
 The Company (a 81.51% subsidiary) achieved a total turnover of Rs.
 2,879.80 Lacs and earned Rs. 56.17 Lacs of Profits After Tax.
 
 As per Section 212 of the Companies Act, 1956, we are required to
 attach the Directors'' Report, Balance Sheet, and Profit and Loss Account
 of our subsidiaries. The Ministry of Corporate Afairs, Government of
 India vide its Circular No. 2/2011 dated 8th February, 2011 has
 provided an exemption to companies from complying with Section 212,
 provided such companies publish the audited consolidated financial
 statements in the Annual Report.  Accordingly, the Annual Report
 2010-11 does not contain the financial statements of our subsidiaries.
 However, the Accounts of the Subsidiary Companies and the related
 information will be made available to the Members of Shiva Global Agro
 Industries Limited and its Subsidiary Companies on request and will
 also be kept for inspection at the Registered Office.
 
 SAFETY, HEALTH AND ENVIRONMENT (SHE)
 
 Company''s focus on Safety, Health and Environment continued during the
 year under review across all locations with all manufacturing plants
 maintaining high safety standards.
 
 dividend
 
 Considering the continued good performance of the Company during the
 year under review, your Directors recommend a dividend @10% for the
 year ended 31st March, 2011.
 
 FURTHER PROSPECTS
 
 your Company is making continuous efforts for consolidating its market
 share in the SSP and Mix fertilizers segments.  The Company has taken
 stakes in field of Seed Processing, Solvent Extraction and Micro
 Nutrient producing units apart from investing in a mixed fertilizer
 unit. The Company is further planning to increase its share in these
 companies which are already running successfully. As promised in the
 last annual report the Company has set up a Beneficiated Rock Phosphate
 plant serving the needs of raw material for its SSP plant.
 
 The Company is examining setting up of a sulphuric acid plant which
 will also cater to the needs of raw material for its SSP Plant. The
 sulphuric acid plant also produces power which will be consumed by the
 SSP plant of the Company. The Company is also planning to set up SSP
 plant in other states of India.
 
 FIXED DEPOSIT
 
 your Company has accepted fixed deposits during the year and there are
 no unpaid/overdue fixed deposits.
 
 DIRECTORS
 
 mr. Omprakash k. Gilda and mr. sambhaji l. pawar, Directors of the
 Company, retire by rotation and being eligible offer themselves for
 re-appointment.
 
 AUDITORS
 
 The auditors, M/s. J. P. falor & Co., Chartered Accountants, retire at
 the ensuing Annual General Meeting and have confirmed their eligibility
 and willingness to accept office, if re-appointed.
 
 MANAGEMENT DISCUSSION AND ANALYSIS
 
 A report on Management Discussion and Analysis, which forms part of
 this Annual Report, inter-alia, deals with the operations as also
 current and future outlook of the Company.
 
 DIRECTORS RESPONSIBILITY STATEMENT
 
 The Board of Directors of Shiva Global Agro Industries Limited confirm
 that in the preparation of the Profit and Loss Account for the year
 ended 31st March, 2011 and the Balance Sheet as at that date (financial
 statements) :
 
 - The applicable accounting standards issued by the Institute of
 Chartered Accountants of India have been followed.
 
 - Appropriate accounting policies have been selected and applied
 consistently and judgements and estimates that are reasonable and
 prudent have been made so as to give a true and fair view of the state
 of afairs of the Company as at the end of the financial year and of the
 Profit of the Company for that period.
 
 - Proper and sufficient care has been taken 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. To ensure
 this, the Company has established internal control systems, consistent
 with its size and nature of operations, subject to the inherent
 limitations that should be recognized in weighing the assurance
 provided by any such system of internal controls. These systems are
 reviewed and updated on an ongoing basis. Periodic internal audits are
 conducted to provide reasonable assurance of compliance with these
 systems. The Audit Committee meets at regular intervals to review the
 internal audit function.
 
 - Proper systems are in place to ensure compliance of all laws
 applicable to the Company.
 
 - The financial statements have been prepared on a going concern basis.
 
 CORPORATE GOVERNANCE
 
 Pursuant to Clause 49 of the Listing Agreement with the Stock Exchange
 a separate section titled Report on Corporate Governance is attached
 to this Annual Report.
 
 CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
 EARNINGS AND OUTGO
 
 The particulars as prescribed under sub-section (1)(e) of Section 217
 of the Companies Act, 1956, read with the Companies (Disclosure of
 particulars in the report of the Board of Directors) Rules, 1988, are
 provided in the Annexure to the directors'' report section.
 
 PARTICULARS OF EMPLOYEES
 
 Information in accordance with the provisions of Section 217(2A) of the
 Companies Act, 1956 read with the Companies (Particulars of Employees)
 Rules, 1975, as amended is not presently applicable.
 
 CONDOLENCE
 
 We, the Members of the Board, wish to place on record our profound
 grief and deep sense of sorrow at the sad demise of Marketing Manager
 of our Company, Mr. Surendra Sharma on 19th November, 2010.
 
 We also record our appreciation on the exemplary and selfless service
 rendered by him for the growth and development of the Company, since he
 joined as a Marketing Manager of the Company.
 
 ACKNOWLEDGEMENT
 
 The Directors acknowledge and would like to place on record the
 commitment and dedication on the part of the employees of your Company
 in achieving good results, all round.
 
 The Directors also wish to acknowledge and record their appreciation of
 the continued support and assistance received by the Company from Union
 Bank of India and other Banks, financial institutions, mutual funds, as
 well as from various Government bodies both at the Centre and the
 State.
 
                                          By the order of the Board
 
 Place : Nanded                                     Omprakash Gilda
 
 Dated : 30th May, 2011                           Managing Director