The Directors have pleasure in presenting the Annual Report of the Company together with the Audited Statement of Accounts for the accounting period ended on 31st March, 2012.

FINANCIAL RESULTS

(Rs. In Lacs) Description For the Year For the Year ended 31.03.2012 ended 31.03.2011

Total Income 40.24 12.59

Total Expenditure 13.44 7.47

Operating Profit(PBDT) 26.8 5.12

Depreciation 0.49 0.61

Profit before Taxation 26.31 4.51

Add: Net Deferred Tax Assets/Reversal of DTL (3.99) 3.74

Add: MAT Credit Entitlement 0.79 0.58

Less: Interest paid on Income Tax 0.00 0.02

Less: Provision for MAT 5.02 0.83

Profit after Taxation 18.09 7.99

Proposed Dividend 10.85 1.55

Provision for Dividend Tax 1.76 0.26

Net Profit after Tax and Dividend 5.48 6.18

Amount B/F from Last year 36.55 30.37

Balance C/F to Balance Sheet 42.03 36.55

During the year under review the company's Profit after Tax stood at Rs. 18.09 Lacs.

The Directors expects a further growth in the current year due to the new activities being taken up in the current year.

DIVIDEND

The Board has recommended 1% dividend on equity shares, i.e., Rs. 0.10 per share of the face value of Rs. 10/- each.

AUDITORS

The existing auditors M/s. LKM & Co., Chartered Accountants, retire at the ensuing Annual General Meeting and have shown their unwillingness for re-appointment as the auditors of the Company due to preoccupation.

The Board has obtained the confirmation from M/s. Katariya & Co., Chartered Accountants of their eligibility and willingness to be appointed as the Statutory Auditors of the Company. A proposal seeking their appointment is provided as part of the Notice of the ensuing Annual General Meeting.

The comments by the Auditors in their Report are self explanatory and in the opinion of the Board, do not require any further clarifications.

DIRECTORS

Mr. Shyam Sunder Gupta resigned from the directorship of the Company with effect from 20th October, 2011. Your Board places on record its sincere appreciation of the services rendered by him.

Mr. Vivek Agrawal and Mr. Manish Kumar Pokherna were appointed as additional director w.e.f. 20th June, 2011 and 22nd February, 2012 respectively. Notice in writing under section 257 of the Companies Act, 1956 have been received from some members of the Company proposing the candidature of Mr. Agrawal and Mr. Pokherna.

Mr. Rajnath Shukla retires by rotation at the forthcoming Annual General Meeting and since he has not opted for re-appointment due to pre-occupation, he will cease to be a director on the date of AGM. Your Board places on record its sincere appreciation of the services rendered by him.

AUDITORS' REPORT

Observations made in the Auditors' Report are self explanatory, and therefore, do not call for comments under section 217(3) of the Companies Act, 1956.

MANAGEMENT DISCUSSION & ANALYSIS REPORT

In terms of Clause 49 of the Listing Agreement with the Stock Exchanges, management Discussion & Analysis Report is appended to this Report.

CORPORATE GOVERNANCE

A separate section on Corporate Governance and certificate from the auditors of the Company regarding compliance of conditions of Corporate Governance pursuant to clause 49 of the Listing Agreement with the Stock Exchanges, forms part of the Annual Report.

BONUS ISSUE

During the year under review, the Company had declared and allotted 93,00,000 equity shares of Rs. 10/- each as fully paid up Bonus Shares in the ratio of Six (6) Equity Shares as Bonus Shares on August 26, 2011, against Every One (1) Equity Share held as on the Record Date, i.e., August 25, 2011. ACQUISITION OF STAKE

During the year, Company has acquired 789000 equity shares of M/s IADFAC Laboratories Private Limited ("ILPL") (99.87% Holding of "ILPL") and 900000 equity shares of M/s Protect Nature Private Limited ("PNPL") (97.26% Holding of "PNPL"). Pursuant to the said acquisitions, ILPL and PNPL became subsidiaries of the Company.

CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

The Company is not manufacturing unit hence, information pertaining to conservation of energy and technology absorption is not applicable to the Company.

There are no transactions pertaining to Foreign exchange earning and outgo during the year under review.

PARTICULARS OF EMPLOYEES

The Company does not have any employee whose particulars are required to be given pursuant to the provisions of the section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975.

DIRECTORS RESPONSIBILITY STATEMENT

As required under Section 217(2AA), which was introduced by the Companies (amendment) Act, 2000 you're Directors confirm that:-

i. In the preparation of the annual accounts, the applicable accounting standards have been followed.

ii. The Directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as it gives a true & fair view of the state of affairs of the Company as on 31st March, 2012 and the profit & loss of the company for the year ended on 31st March, 2012.

iii. The Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

iv. The Directors have prepared the Annual Accounts on going concern basis.

ACKNOWLEDGEMENT

The Board of Directors wish to place on record their sincere appreciation and acknowledge with gratitude to the Company's valued clients and Bankers for their continued support. The Directors also record their appreciation of the Company's Employees at all their appreciation, commitment and hardwork, without which the results achieved by your company would not have been possible and look forward to their continued support.

For and on behalf of the Board,

Managing Director Director

Date: 29.09.2012

Place: Mumbai