To The Members of Teesta Agro Industries Limited
 
 The Directors take pleasure in presenting the Twentyfifth Annual
 Report of the Company together with Audited Statement of Accounts for
 the year ended 31st March,2011
 
 01.  FINANCIAL RESULTS
                                   Current Year        Previous Year
                                    Rs. Lacs.             Rs. lacs.
 
 Total turnover & other receipts       8993.75             6063.55
 Operating Profit before interest, 
 depreciation
 and other noncash expenses             302.72              280.67
 
 Less: Interest on Loan                  47.33               54.65
 
 Cash Profit                            255.39              226.02
 
 Less: Depreciation and other 
 noncash expenses                       121.53              118.31
 
 Profit for the year                    133.86              107.71
 
 Provision for taxation                 (40.24)             (53.36)
 
 Profit after tax                        93.62               54.35
 
 Add: Profit brought forward from 
 Previous Year                          957.62              903.27
 
 Profit available for appropriation    1051.24              957.62
 
 Proposed Dividend                       44.56                 —
 
 Tax on Proposed Dividend                 7.40                 —
 
 Transfer to General reserve             10.00                 —
 
 Profit carried forward to next year    989.28              957.62
 
 
 2.  DIVIDEND
 
 Your Directors have recommended payment of dividend @ 10% on the Equity
 Share Capital of the company in respect of the year ended 31st March,
 2011
 
 3.  OPERATION
 
 The turnover and other receipts of your company has been Rs. 8993.75
 lacs as against Rs. 6063.55 lacs in the previous year. Profit after
 taxation stood at Rs. 93.62 lacs as against Rs. 54.35 lacs in the
 previous year.
 
 4.  FUTURE PROSPECT
 
 Subsidised Maximum Retail Price of SSP fertilizer is very low in
 comparison with other substitute fertilizers. Hence due to low price,
 demand for SSP fertilizer is growing day by day. To encash the growth
 potential of this sector, we have decided to set up a green field SSP
 fertilizer manufacturing unit near Chittorgarh in the State of
 Rajasthan. This will be our second SSP Unit. We have chosen Chittorgarh
 because this place is very nearer to the raw material location and we
 can produce SSP fertilizer at a lower cost there at. Commercial
 production of SSP fertilizer from our second unit is expected within
 October, 2012.
 
 5.  DIRECTORS
 
 Mr. Prem Singh, Mr. U.C.Sahoo and Mr. Inderdeep Singh retires by
 rotation in the forthcoming Annual General Meeting and, all being
 eligible, have offered themselves for re appointment.
 
 Mr. A.KTripathy, was appointed Additional Director in the Board Meeting
 held on 30.10.2010. He would hold office of Additional Director up to
 the conclusion of this Annual General Meeting, as per Section 260 of
 the Companies Actl956. However, the company has received notice in
 writing, from a shareholder, under section 257 of the Companies Act,
 1956 to the effect that he would propose the name of Mr. A.KTripathy
 for position of Director in the forthcoming Annual General Meeting of
 the Members of the Company. The resolution, under Item No.6 of the
 Notice, convening the Annual General Meeting, is intended for the
 purpose.
 
 The Board of Directors recommends the resolution for approval of the
 Members.
 
 Save and except Mr. A.KTripathy, no Director of the company is
 concerned or interested in the resolution, being Item No.6 of the
 Notice convening this Annual General Meeting of the Members of the
 company.
 
 6.  DIRECTORS'' RESPONSIBILITY STATEMENT
 
 As per newly inserted Section 217(2AA) of the Companies Act, 1956 your
 Directors state :-
 
 1.  That in the preparation of Annual Accounts, the applicable
 Accounting Standards had been followed and no material departure have
 made from the same.
 
 2.  That the Directors had selected such accounting policies and
 applied them consistently and made judgement and estimates that are
 reasonable and prudent so as to give a true and fair view of the state
 of affairs of the company for the period.
 
 3.  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.
 
 4.  That the Directors had prepared the annual accounts on a going
 concern basis.
 
 7.  EMPLOYEES
 
 No employee has been in receipt of salary of Rs. 24 lacs or more per
 annum or Rs. 2 lacs or more per month during any part of the year under
 review and hence the necessary details as per the provisions of Section
 217(A) of the Companies Act, 1956 read with the Companies (Particulars
 of Employees) Rules, 1975 are not required to be furnished.
 
 8.  CONSERVATION OF ENERGY
 
 The necessary details under the captioned heading have been given as
 per Annexure A .
 
 9.  AUDITORS
 
 M/s. Mantry & Associates, Chartered Accountants, Siliguri are the
 retiring auditors and, being eli- gible, have offered themselves for
 reappointment.
 
 10. AUDITORS'' REPORT
 
 The Auditors'' Report read with relevant Notes on Accounts are self
 explanatory and does not call for further clarification.
 
 11.  CORPORATE GOVERNANCE REPORT
 
 The Corporate Governance Report including certificate of the auditors
 thereon is annexed and marked as Annexure B which forms part of the
 report.
 
 12.  MANAGEMENT DISCUSSION & ANALYSIS
 
 A statement of management discussion and analysis is annexed and marked
 as Annexure C which forms part of the report.
 
 13.  APPRECIATION
 
 Your Directors wish to record their appreciation of the valuable co
 operation and support received from the customers, Banks, Central
 Government and various State Government. Your Directors are also
 grateful to shareholders and employees for the continued support to the
 company.
 
 Siliguri Office :         For and on behalf of the Board of Directors
 
 25, Bardhaman Road 
 
 Siliguri-734005
 
 Date: The 6th September, 2011            ( Hardev Singh )
 
                                          Managing Director