Dear Fellow Shareowners,
 
 On behalf of the Simplex Castings Family, welcome you on the occasion
 of 31st Annual General Meeting.
 
 It is with immense pleasure that present herewith 31st Annual Report
 for the financial Year 2010-11.
 
 The financial year 2010-11 was one in which both the world, as well as,
 Indian Economy showed resilience. The year has been a year of
 opportunities and challenges. Despite sluggish global economic
 conditions and prevailing uncertainties in the global environment, the
 Indian economy has continued to grow at a pace of 8.5% as against 7.5%
 growth last year.
 
 Your Company has maintained its growth momentum in profits in the
 financial year 2010-11. The Sales and other receipts for the year
 2010-11 is Rs. 204.41 Crores as against Rs. 165.97 Crores for the last
 year registering a growth of 23.16%.
 
 As far as the profitability is concerned, your company has maintained
 its consistent growth path. For the fiscal year 2010-11 the Profit
 before tax was Rs. 19.34 Crores and Profit after Tax was Rs. 12.95
 Crores, whereas these were Rs.  16.32 Crores and Rs. 10.63 Crores
 respectively in the last year thereby registering an increase of 18.51
 % and 21.82 % over the last year''s figures.
 
 Earnings per Share have also jumped to Rs. 20.74 for Financial Year
 2010-11, from Rs. 17.53 in 2009-10, thus increasing at the rate of
 18.31 percent.
 
 Your Company has broadly, three profit making Centre''s-
 
 a) Ferrous Castings in all grades (Steel, Cast Iron & Ductile Iron)
 
 b) Finish & Intricate Machining
 
 c) Technological & Structural fabrication
 
 Your company has robust order booking position from traditional
 customers like Railways, Power, Steel etc. and I am happy to inform you
 that after successful supplies to Orissa Mining Minerals Ltd. of
 Adhunik Group, we have bagged order worth Rs. 30 crores from M/s.
 Bajrang Alloys for supply of equipments in the growing field of
 Palletization . Your company has always ensured maintaining good
 relations with their clients.
 
 Your company has invested in CNC''s machines in last few years and I am
 happy to inform you that we are utilizing these machines not only to
 add value to our products, but also undertaking prestigious jobs for
 machining from our customers.
 
 The Technological & Structural Fabrication Unit is the recent addition
 in the family of Simplex Castings Limited. Our focus is to book more
 and more orders from the sectors like power, railways and oil & Gas.
 This unit has advanced fabrication and machining facilities and we are
 planning to tie up with foreign companies for value addition. I am
 fully confident that our annual sales will increase with the addition
 of this unit.
 
 Our focus in the current year will be on sophisticated equipment
 manufacturing rather than focusing on grouping of activities for
 different equipments/ products. There is a huge demand for not only
 castings but other equipments in the market and we can grasp the
 upcoming opportunities.
 
 I take this opportunity to express my sincere thanks to all the
 shareholders for their continued trust in the management of the
 company. I would also like to thank all our customers, dealers,
 business suppliers, business associates, financial institutions, Banks
 and the employees / staffs for their invaluable support and
 cooperation.
 
 I convey my sincere gratitude to the Board of Directors for their sound
 and continued support towards the success of the Company.
 
 
 With Best wishes, 
 Thanking You
 
 Arvind Shah