To The Members
 
 The Directors have great pleasure in presenting the Nineteenth Annual
 Report together with Audited Accounts of the Company for the year ended
 31st March, 2012.
 
 FINANCIAL RESULTS:
 
 The financial results of the Company for the year under review are
 furnished below:_
 
 Particulars                        ( Rupees in Lakhs )
                                    31.03.2012      31.03.2011
 
 Operating Profit / (Loss) 
 before interest and
 depreciation                         (231.02)         251.64
 
 Add: Interest                         153.76          122.30
 
 Gross Profit / (Loss)                (384.78)         129.34
 
 Less: Depreciation                     30.45           32.16
 
 Less Provision for Taxation            (1.87)          14.45
 
 Net Profit / (Loss) for the year     (413.36)          82.73
 
 Amount Brought forward from 
 previous year                          80.83           (1.90)
 
 Amount carried over to Balance Sheet (332.53)           80.83
 
 DIVIDEND:
 
 The Directors of the Company have not recommended any dividend due to
 loss.
 
 REVIEW OF OPERATION:
 
 Due to scarcity of raw material Viz. coking coal the price has
 increased to nearly 24 % over the price prevailed during the previous
 year. But the selling price of Coke was almost static during the year
 2011.2012 as the demand for the end product Viz. Lam Coke has came down
 during this year due to the crisis in mines in Karnataka and elsewhere
 have impacted the steel and foundry industries which are the major
 consumer of Coke, Therefore the scarcity and increase in price of raw
 material coupled with non-improvement of selling price , rendered the
 production operation uneconomical and hence the production was stopped
 from November,2011.  However during the year under review, the company
 registered an increased turnover of Rs. 36.70 Crores as against Rs.
 29.51 Crores in the previous year, through higher level of trading
 activity. In view of the reasons stated above the company has incurred
 a huge loss of Rs.413 lakhs.
 
 FUTURE PROSPECTS:
 
 As the crisis in mining seems to be resolved it is expected that there
 will be improvement in steel and foundry industry operations which may
 bring in more demand for Coke. However if the price of raw material and
 availability improves, .the company would resume production in the
 coming year.
 
 PUBLIC DEPOSITS:
 
 The Company has not accepted any deposits from the public during the
 year.
 
 DIRECTORS:
 
 In accordance with the provisions of the companies Act, 1956, Sri
 P.Parthiban and Sri M
 
 Karuppasamy, Director of the Company retires by rotation at the ensuing
 Annual General Meeting and being eligible, offers themselves for
 reappointment. The Directors recommend their appointment. The details
 as required under clause 49 of the listing Agreement is attached.
 
 Sri N Srinivasan resigned from the Board with effect from 01.11.2011
 and the Board wish to place on record the valuable services rendered to
 the Company during the tenure of office.
 
 AUDITORS:
 
 Your Company''s Auditors M/s. Rajan Sankar & Co., Chartered Accountants,
 Coimbatore retire at the ensuing Annual General Meeting and they are
 eligible for re-appointment.
 
 COMPANY SECRETARY:
 
 The Company has been making regular and sincere efforts for the
 appointment of Whole Time qualified Company Secretary. An advertisement
 was given in leading newspaper, but the same evoked no response, the
 Company has also written to the Institute of Company Secretaries of
 India in this regard, but no applicants have turned up so far.
 
 COMPLIANCE CERTIFICATE:
 
 The Compliance Certificate obtained from a Practising Company Secretary
 as required under Section 383A of the Companies Act, 1956 and Cost
 Accountant are enclosed.
 
 PARTICULARS OF EMPLOYEES:
 
 In accordance with Section 217(2A) of the Companies Act, 1956, read
 with Companies (Particulars of Employees) Rules 1975, as amended, the
 names and other particulars of the employees of the Company who are in
 receipt of remuneration of not less than Rs.60 Lakhs per annum and
 Rs.5,00,000/- per month is Nil.  CONSERVATION OF ENERGY, TECHNOLOGY
 ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO:
 
 1.  (A) CONSERVATION OF ENERGY:
 
 Particulars of energy consumption and energy consumption per unit of
 production are furnished below:
 
 
 (B) TECHNOLOGY ABSORPTION:
 
 Due to loss, the Company has not opted for upgradation / switch over to
 later technology.
 
 (C) RESEARCH AND DEVELOPMENTS:
 
 The Company does not have any research and Development Wing.
 
 2.  TECHNOLOGY ABSORPTION, ADOPTION AND INNOVATION:
 
 For consistent production of higher quality of Products besides having
 state of the Machinery and Equipments, the manufacturing units are
 equipped with well trained personnel and high tech quality control
 equipments.
 
 3.  FOREIGN EXCHANGE EARNINGS AND OUTGO: NIL DIRECTORS'' RESPONSIBILITY
 STATEMENT:
 
 In terms of the provisions of Section 217 (2AA) of the Companies Act,
 1956, your Directors confirm:
 
 a.  that in the preparation of annual accounts, the applicable
 accounting standards had been followed along with proper explanation
 relating to material departures;
 
 b.  that your Directors had selected such accounting policies and
 applied them consistently and made judgments and estimates 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 of the Company for that period;
 
 c.  that your Directors had taken proper and sufficient care for the
 maintenance of adequate accounting records in detecting fraud and other
 irregularities;
 
 d.  that your Directors had prepared the annual accounts on a going
 concern basis.
 
 CORPORATE GOVERNANCE:
 
 A separate report on Corporate Governance, Management Discussion and
 Analysis and a certificate from the Auditors of the Company regarding
 compliance of Corporate Governance as stipulated Under Clause 49 of the
 Listing Agreement form part of the Annual Report.
 
 LISTING:
 
 The equity shares of the Company are listed in Bombay Stock Exchange
 But trading in the share of this Company was suspended during the
 period when a rehabilitation process was taken up by BIFR The listing
 agreement stipulates that in consideration of listing by the Stock
 Exchange , the company is agreed to comply with all the requirements
 under the agreement. The listing of securities of the Company would be
 complete when the securities of the Company are allowed to be traded in
 the Stock Exchange The trading in the share of this Company was
 suspended during the period when a rehabilitation process was taken up
 by BIFR After the rehabilitation scheme was framed by the BIFR
 application for revocation of suspension in trading in shares of
 Company was duly made in April ,2010 to the Bpmbay Stock Exchange. The
 company had also complied with all the requirements of the listing
 agreement including the past data and information as directed by the
 Exchange.  However even after a lapse of two years there is no response
 from the Exchange. Under this circumstance it was opinioned that there
 is no point in complying with the conditions of the Listing Agreement
 when the securities of the Company are not allowed to be traded in the
 Exchange and in effect that the listing of our securities has not been
 complete and the annual listing fee also was not paid to Bombay Stock
 Exchange for the financial year 2012-13.. Therefore it was decided to
 comply with the conditions of the listing agreement as soon as the
 suspension on trading in our shares is revoked and accordingly the
 Exchange was informed
 
 Members have option to hold their shares in dematerialized form through
 the National Securities Depositary Limited (NSDL) and Central
 Depositary Services (India) Limited (CDSL). The ISIN of the Company is
 INE261K01019.
 
 ENVIRONMENT AND SAFETY:
 
 The Company has taken various steps to attain high level of safety in
 its factory and we are happy to inform that there was no untoward
 incident during the year under consideration. Strict measures were
 taken to keep the environment clean and free from Pollution.
 
 ACKNOWLEDGEMENT:
 
 Your Directors wish to express their sincere thanks for the valuable
 co-operation and assistance extended by Government Authorities, AXIS
 Bank Limited, Tamilnadu Electricity Board, shareholders, consumers and
 suppliers. They also wish to place on record their appreciation for the
 hard work and dedicated service put in by the employees at all levels.
 
                                  For and on behalf of the Board
 
                                         -sd-
 
 Place: Coimbatore                  CV Kaleesswaran
 
 Date: 03.09.2012                 Chairman cum Managing Director