The Members
 
 SJ Corporation Limited.
 
 The Directors have pleasure in presenting their 30th Annual Report
 together with the Audited Statements of Accounts of the Company for the
 year ended March 31, 2011.
 
 FINANCIAL RESULTS:
 
                                            31/03/2011     31/03/2010
 
                                                 (Rs.)          (Rs.)
 
 Profit/(Loss) before tax for the year       38,20,474    1,95,37,010
 
 Less: Provision for Current Taxes                   -              -
 
 Profit/(Loss) After Tax for the Year        38,20,474    1,95,37,010
 
 Less: Proposed Dividend                      4,17,750       8,00,000
 
 Less: Tax on Dividend                          67,769       1,32,870
 
 Add: Profit/(Loss) brought forward        3,49,53,094    1,63,48,954
 
 Profit/(Loss) Carried forward             3,82,88,049    3,49,53,094
 
 OPERATIONS:
 
 During the year under review, the Company has posted Total Income of
 Rs.762.90 Lacs as against Rs. 2347.48 Lacs for the corresponding
 previous year.
 
 Further, Net Profit after Ta x for the year under review was Rs.38.20
 Lacs as against Net Profit of Rs.195.37Lacs in the corresponding
 previous year.
 
 DIVIDEND:
 
 The Directors are pleased to recommend a dividend @ 5% i.e. Re.0.05 per
 equity share for the financial year 2010-2011.
 
 DIRECTORS:
 
 Mr. Rajesh Shah and Mr. Savjibhai Patel retire by rotation and being
 eligible offer themselves for reappointment at the forthcoming Annual
 General Meeting.
 
 Mr. Bhavik Patel tendered his resignation from the directorship of the
 company due to pre-occupations and other commitments as on 18th August,
 2011 and Mr. Rajiv N. Shah was appointed as Director of the company to
 fill in casual vacancy caused by said resignation.
 
 Further, your Board wishes to place on record valuable contribution
 made by Mr. Bhavik Patel during his tenure as the Director of the
 Company.
 
 DIRECTORS'' RESPONSIBILITY STATEMENT:
 
 As required pursuant to newly inserted Sec. 217(2AA) of the Companies
 Act, 1956, the Directors hereby confirmed:
 
 a.  that in the preparation of annual accounts for the Financial year
 2010-2011, the applicable accounting standards had been followed along
 with proper explanation relating to material departures;
 
 b.  that the directors had selected such accounting policies and
 applied them consistently and made judgments and estimated that are
 reasonable and prudent so as to give a true and fair view of the state
 of affairs of the company at the end of the financial year and of the
 profit or loss of the company for that period.
 
 c.  that the directors had taken proper and sufficient care for the
 maintenance of adequate accounting records in accordance with the
 provisions of this Act for safeguarding the assets of the company and
 for preventing and detecting fraud and other irregularities;
 
 d.  that the directors had prepared the annual accounts on a going
 concern basis.
 
 AUDITORS'' AND AUDITORS'' REPORT:
 
 M/s RAVI & DEV, Chartered Accountants, Auditors of the Company retire
 at the conclusion of this Annual General Meeting. The members are
 requested to appoint auditors and to fix their remuneration.
 
 Auditors Report as issued by M/s RAVI & DEV, Chartered Accountants,
 Auditors of the Company is self explanatory and need not calls for any
 explanation by your Board.
 
 FIXED DEPOSITS:
 
 The Company has not accepted any loans or deposits from public in
 contravention of Section 58A of the Companies Act, 1956, and rules
 framed under the Companies (Acceptance of Deposits) Rules, 1975.
 
 CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
 EARNINGS AND OUTGO:
 
 Information in accordance with Section 217 (1)(e) of the Companies Act,
 1956 read with the Companies (Disclosure of Particulars in the report
 of Board of Directors) Rules, 1988 regarding conservation of energy,
 technology absorption and foreign exchange earnings and outgo is as
 under:
 
 (a) Conservation of Energy:
 
 The operation of the company is not energy-intensive.  However, the
 Company has taken all the efforts for reduction of energy consumption.
 
 (b) Absorption of Technology:
 
 There was no import of technology during the year.
 
 (c) Foreign Exchange Earnings and Outgo: 
 
 C.I.F. Value of Imports : Rs.25041088/- 
 
 F.O.B. Value of Exports: Rs.75584655/- 
 
 Foreign Expenditure : NIL
 
 Considering the nature of the activities carried out by the Company,
 the other particulars specified in Section 217 (1)(e) of the Companies
 Act, 1956 read with the Companies (Disclosure of Particulars in the
 report of Board of Directors) Rules, 1988, are not applicable.
 
 PARTICULARS OF EMPLOYEES:
 
 The information required under sub-section (2A) of Section 217 of the
 Companies Act, 1956 read with Companies (Particulars of Employees)
 Rules, 1975 duly amended by the Companies (Particulars of Employees)
 Rule, 2011 for the year ended 31st March, 2011 is not applicable to the
 Company as none of the employee is drawing remuneration more than the
 limits presently specified under the said rules.
 
 COMPLIANCE CERTIFICATE:
 
 In accordance with the provisions of Section 383A of the Companies Act,
 1956, certificate from Practicing Company Secretary is given in the
 Annexure and forms part of this Report.
 
 ACKNOWLEDGEMENTS:
 
 The Board places on record its profound appreciation to the Company''s
 Shareholders, Bankers, customers and various Government Authorities for
 the co- operation extended by them to the betterment of the Company.
 
                       For and On behalf of the Board of Directors
 
                            SANJAY PATEL        DEEPAK UPADHYAY
 
                              DIRECTOR              DIRECTOR
 
 Place: Mumbai
 
 Date: 20/08/2011