The Members,
 
 SYNERGY COSMETICS (EXIM) LIMITED.
 
 The Directors have pleasure in presenting the Annual Report of the
 Company together with the Audited Accounts for the year ended 31st
 March, 2011.
 
 Financial Results:
 
                                                       ( Amt. In Rs.)
 
 PARTICULARS                             2010-2011          2009-2010
 
 Sales                                           0           1,37,500
 
 Other Income                                    0                552
 
 TOTAL                                           0           1,38,052
 
 Cost of Material Sold                           0           1,37,500
 
 Admin. Selling & Distribution Exp.       3,11,931           1,32,640
 
 Other Exp.                                      0                  0
 
 Depreciation                               64,258             47,644
 
 Profit/(Loss) Before Tax                (3,76,189)         (1,79,732)
 
 Less: Provision for Income Tax                  0             20,100
 
 Profit/(Loss) for the year after 
 Taxation                                (3,76,189)         (1,99,832)
 
 Balance of Profit Brought Forward      (48,36,212)        (46,36,380)
 
 Transfer to B/S                        (52,12,401)        (48,36,212)
 
 
 Operations:
 
 During the year under review total income earned was NIL against
 expenditure of Rs. 3,76,189 resulting into Net Loss of Rs. 3,76,189
 compared to loss of Rs 1,79,732 in previous year. But your directors
 foresee the bright future of the Company.
 
 Dividend:
 
 In order to conserve resources, the Board of Directors has thought it
 prudent not to recommend payment of dividend for the year under review.
 
 Particulars of Employees:
 
 There is no employee having remuneration in accordance with the
 provisions of section 217(2A) of the Companies Act, 1956 read with the
 Companies (Particulars of Employee) Rules, 1975 as amended.
 
 Transfer of Unpaid/Unclaimed Dividend:
 
 The company has no liability on account of unpaid/unclaimed dividend
 which may be required to be transferred and credited to the Investor
 Education and Protection Fund as per requirements of section 205C of
 the companies act,1956. The company has also no outstanding
 unpaid/unclaimed interest liability on Deposits or Debentures or no
 outstanding unpaid/unclaimed principal amount of any Deposit &
 Debentures or application money.
 
 Compliance to Code Of Corporate Governance :( Clause 49 of the Listing
 Agreement)
 
 Your directors have complied with the listing agreement as constituted
 under the Listing agreement. The detailed corporate Governance report
 is given in Annexure: A
 
 Listing Agreement:
 
 The securities of the company are listed with the Bombay Stock Exchange
 Limited (BSE), Mumbai and Ahmedabad Stock Exchange Limited (ASE). The
 company has paid the annual listing fees for the year.
 
 Dematerialization of the Securities Of The Company:
 
 The Company has signed Tripartite Agreement with NSDL & CDSL for
 dematerialization of its Equity shares. The Equity shares are now
 available for dematerialization the ISIN allotted to shares of the
 company is INE198D01018. Shareholders are requested to take benefit of
 dematerialization.
 
 Deposits :( Section 58A)
 
 During the year under review your company has neither invited nor
 accepted any public deposits or deposits from the private parties as
 defined under section 58A of the companies act, 1956.
 
 Directors Responsibility Statement (Section 217(2aa)):
 
 Pursuant to the provisions contained in section 217(2AA) of the
 companies act,1956 the Directors of your company confirm :
 
 1.  The applicable accounting standards have been followed along with
 proper explanation relating to material departures.
 
 2.  Such accounting policies have been selected and applied
 consistently and reasonable and prudent judgments and estimates made,
 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 the loss of the company
 for that period.
 
 3.  Proper and sufficient care has been taken for the maintenance of
 adequate accounting records in accordance with provisions of this act
 for safeguarding the assets of the company and for preventing and
 detecting fraud and other irregularities.
 
 4.  The annual accounts have been prepared on a going concern basis.
 
 Appointment of Auditors:
 
 M/s. Y. D. & Co., Chartered Accountants, Ludhiana reappointed as
 auditor of the company for the financial year 2011-2012 and holds
 office from the conclusion of this meeting until the conclusion of next
 annual General Meeting of the Company.
 
 The Statutory Auditors of the Company have submitted auditor''s report
 on the accounts of the Company for the accounting year ended 31st
 March, 2011 which is self-explanatory and needs no comments.
 
 Directors:
 
 Mr. Navneet Singh, director, retires by rotation at the ensuing Annual
 General Meeting and being eligible offers himself for re-appointment.
 
 Auditors Observation:
 
 The statutory Auditors of the company have not made any adverse
 observation in their report. Notes to the Accounts are self explanatory
 in nature.
 
 Formation of the Audit Committee (Section 292a):
 
 The company has already formed an Audit committees comprising
 independent Non-Executive Directors as per requirements of Section 292A
 and clause 49 of the listing Agreement. The terms of reference and
 powers, authorities, responsibilities assigned to the committees are
 framed as per the guideline of clause 49 of the Listing Agreements. A
 detailed system of working of the committee is given in report on
 Corporate Governance forming part of this report.
 
 Disclosure of Particulars with Respect:
 
 CONSERVATION OF ENERGY, RESEARCH AND DEVELOPMENT AND TECHNOLOGY
 ABSORPTION, ADOPTION INNOVATION:
 
 The Disclosure of particulars with respect to conversation of energy
 pursuant to the provision of 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 to the
 company. However, the company makes its best efforts for conservation
 of energy. The company has not carried out any specific research and
 development activities. The company has not imported or absorbed any
 new technology during the year under review.
 
 FOREIGN EXCHANGE EARNINGS AND OUTGO:
 
 The information regarding Foreign Exchange Earnings and out go is as
 follows:
 
 a) Earnings in Foreign Exchange : Nil
 
 b) Outgo in Foreign Exchange    : Nil
 
 Acknowledgement:
 
 The management is grateful to the Government Authorities, Bankers,
 Vendors, Employees, for their continued assistance and co-operation.
 The Directors also wish to place on record the confidence of members in
 the company.
 
                                For and on behalf of Board of Directors
 
 Place: Ahmedabad
 
 Date: 30.05.2011                                              Chairman