Dear Stakeholders,
 
 I feel immense pleasure in expressing my feelings and gratitude to you
 for the trust and confidence poised on us. This year we have many
 milestones that I will share with you, along with the achievements and
 financial snapshots.
 
 Agriculture in India has a long history dating back to ten thousand
 years. Indian agriculture began by 9000 BC as a result of early
 cultivation of plants, and domestication of crops and animals. Indian
 products soon reached the world via existing trading networks and many
 foreign crops were introduced. Today, India ranks second in world farm
 output.  According to World Bank. Indian Branch: Priorities for
 Agriculture and Rural Development, one of the reasons of low
 productivity in India is adoption of modern agricultural practices and
 use of technology is inadequate.
 
 The agricultural production is notable to cope up with the increasing
 demand for food due to population explosion. This gap can be narrowed
 by shortening the difference between potential production and actual
 production with use of efficient and innovative technology to enhance
 per hectare productivity of agricultural land.
 
 We, at Insecticides (India) Limited (IIL) invest significantly in the
 research and development for higher quality agriculture production.
 At IIL we approach each challenge armed with our knowledge of
 agri-science & motivated by our commitment to increase crop yield.
 Recently our F&D center has also bagged NABL accreditation.
 
 Our new manufacturing facilities at Udhampur and Dahej have started
 their operations to cater the increasing demand and increase the
 spectrum of our prooucts. This will enable us to reduce the time cycle
 of our supplies. These are state of the art manufacturing facilities
 with fully automatic machines as well as packaging.
 
 To strengthen the leading product line of Lethal, Victor and Thimet.
 this year we have also acquired one of the biggest brand of
 agrochemicals MONOCIL. an insecticide. To create a niche for our
 products, we have also signed renowned actor Sunlel Sbetty to endorse
 for our products. We are presenting Suniel Shetty as a representative
 of the modern farmers using all the modern agri techniques. With Global
 collaborations and national tie-ups. IIL has placed new challenges for
 itself and is all set to extent towards new pinnacle.
 
 I would also like to share that your company has been graded 3 out of 5
 by CRISIL for equity research.Your company has also been rated A
 Stable for long term and P1 for short term funding.
 
 I would also like to share with you. that your company has achieved a
 turnover of Rs. 477.90 Cr. with an increase of 20 % and PAT of RS. 32.21
 Cr. wilh an increase of 14% compared to last fiscal.  Company''s scrip
 has also touched all time high of Rs. 352. Wilh our vision to think
 ahead of times I am sure that this is just fine beginning.
 
 On this note, I would like to thank all our board of directors.
 bankers, employees, vendors, customers, associates, experts of agri
 community, government bodies and shareholders for their continuous
 support, which has contributed immensely in taking your company to new
 heights.
 
                                                   Warm regards, 
                                                Yours sincerely
 
                                                  H.C. Aggrawal 
                                                       Chairman