The Directors hereby preset ihe 15th Annual Report together with the
 Audited statement of the account for the year ended on 31st March ,
 2007.
 
 i.  Financial Results :
 
 Particulars                                Year Ended     Year Ended
                                            31.03.2007     31.03.2006
 
 Sales Jobwork Charges and                     92.72          52.30
 Interest                                      16.87           3.59
 Depreciation                                  33.70          56.02
 Loss before tax                               30.06          65.98
 Tax(FBT)                                       0.05           0.13
 Loss after tax                                30.11          66.11
 Balance Brought from earlier                 738.25         673.02
 years .
 Prior Period Adjustment                       (0.06)          0.88
 Total Loss carried to Balance                768.42         738.25
 Sheet          
   
 
 2.  Public Deposit;
 
 The company has not accepted any deposit u/s 58A of the Companies Act.
 1956 during the year under report.
 
 3.  Directors :
 
 Shri I S Sodha; Directors shall retire by rotation at the ensuing
 annual general meeting and being eligible offer themselves for
 reappointment.
 
 A.  Directors Responsibility:
 
 Pursuant to section 217 (2AA) of the Companies (Amendment) Act, 2000
 the Directors confirm that:
 
 (i) in the preparation of the annual accounts, the applicable
 accounting standards have been followed.
 
 (ii) appropriate accounting policies have been selected and applied
 consistently and have made judgement and estimates that 8re reasonable
 and prudent so as to give a true and fair view of the state of affairs
 of the company as at 31st March. 2007 and of the Profit & Loss Account
 for the period ended on that day.
 
 (iii) 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 asset? of the company and for
 preventing and detecting fraud and other irregularities. 
 
 (iv) the annual accounts have been prepared on a going concern basis.
 
 5.  Corporate Governance Report :
 
 Corporate Governance Report as per clause 49 of the listing agreement
 with the Stock Exchanges is annexed herewith.
 
 6.  Auditors :
 
 M/s. S.G.Bhagwat & Co., Chartered Accountants, Auditors of the company
 retire at the ensuing annual general meeting and are eligible for
 reappointment.
 
 7.  Auditors Report :
 
 The observation of the auditors are explained wherever necessary, by
 way of appropriate notes to the accounts.
 
 8.  Particulars of Employees :
 
 information in accordance with the provision of section 217 (1A) of the
 Companies Act, 1956 read with the Companies (Particulars of employees)
 Rules, 1975 as amended regarding employees is NIL.
 
 9.  Particulars regarding conservation of Energy, Technology Absorption
 and Foreign Exchange Income and Outgo :
 
 information in accordance with the provision of section 217 (1E) of the
 companies Act. 1956 read with the Companies (Disclosure of Particulars
 in the Report of the Board of Directors) Rules. 1SC3 is as per Annexure
 - A.
 
 Baroda                                       On behalf of the Board
 Date: 11th August, 2007                                Sd/-
                                                      B.S.SODHA
                                                      CHAIRMAN