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Directors Report of Pacific Industries Ltd.

Mar 31, 2014

Dear Members,

The Directors pleased to present the 25th Annual Report and of the working of the Company along with the statement of accounts and the Auditors'' Report for the year ended 31st March, 2014.

1. Financial Results: (Rs. in Lac) Year ended Year ended PARTICULARS 31.03.2014 31.03.2013 (Audited) (Audited)

Turnover 7986.64 8825.11

Profit before Tax 943.40 1089.54

Less: Provision for Income Tax

- Current Tax 193.52 220.48

- Prior period Tax expenses 3.12 4.43

Net Profit after Tax 746.76 864.64

Add: Profit brought forward from previous year 4873.28 4008.64

Profit available for Appropriation 5620.04 4873.28

Net Profit carried forward 5620.04 4873.28

2. Business Results

During the year the turnover of the company has been declined by 9.50% to Rs. 7986.64 Lakh as against Rs. 8825.11 Lakh in the previous year. The Net Profit after Tax of the Company get also effected due to decline in turnover and reduced from Rs. 746.76 Lakh as against Rs. 864.64 Lakh in the previous year.

3. Dividend and transfer to Reserve

Your directors have not recommended any dividend for the year 2013-2014 and the entire surplus is proposed to be transferred to the reserves to give financial leverage to the Company.

4. Directors'' Responsibility Statement:

As required under Section 217(2AA) of the Companies Act, 1956, your Directors confirm having:

S followed in the preparation of the Annual Accounts, the applicable accounting standards with proper explanation relating to material departures, if any ;

S selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of your Company at the end of the financial year and of the profit of your Company for that period;

S 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 your Company and for preventing and detecting fraud and other irregularities; and

S Prepared the annual accounts on a going concern basis.

The above statements were noted by the Audit Committee at its meeting held on August 14, 2014.

5. Statutory Disclosures

None of the Directors are disqualified under the provisions of Section 164 of the Companies Act, 2013. The Directors have made the requisite disclosures, as required under the provisions of the Companies Act, 2013 and Clause 49 of the Listing Agreement.

6. Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo

The Information relating to conservation of energy, technology absorption and foreign exchange earnings and outgo as per 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, is appended as Annexure "A" and forms part of the Report.

7. Particulars of Employees

None of the Employee of the Company has been paid such remuneration which attracts provisions of Section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 as amended, hence requirement of disclosure under section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 as amended, doesn''t arise.

8. Corporate Governance

The Company is committed to maintain the highest standards of corporate governance and adhere to the corporate governance requirements set out by SEBI. The Company has also implemented several best corporate governance practices as prevalent globally.

The Report on corporate governance as stipulated under Clause 49 of the Listing Agreement forms part of the Annual Report.

The requisite certificate from the Auditors of the Company confirming compliance with the conditions of corporate governance as stipulated under the aforesaid Clause 49, is attached to the Report on corporate governance.

All board members and senior management personnel have affirmed compliance to the Code of Conduct for the FY 2013-14

9. Capital Investments

Your Company has made an investment of Rs. 2749.04 Lacs in capital assets during the year to increase the production capacities for extraction of granite from mines for captive consumption.

10. Fixed Deposits

During the year under review, your Company has not accepted any deposit under Section 73 of the Companies Act, 2013 read with Companies (Acceptance of Deposits) Rules, 2014.

11. Corporate Social Responsibility

The philosophy and practice of sustainability and business ethics has been a matter of abiding interest and faith to your Company. Your Company has always seen its interests as inseparable from that of the community.

As a part of our social responsibility we try to promote social welfare through the following educational institutions

S Geetanjali Medicity S Geetanjali Institute of Technical Studies S Geetanjali College of Pharmaceuticals Studies

12. Companies Act, 2013

During the current FY the Companies Act, 1956 has been replaced by Companies Act, 2013 and became applicable for every company from April 1, 2014. Your Company has been regular in keeping pace with the fast changes that has become applicable and initiated necessary actions accordingly. Some of the important initiatives are as under:

- Modification in terms of Audit Committee;

- Modification in terms of Nomination and Remuneration Committee;

- Modification in terms of Stakeholders Relationship Committee;

- Appointment of Secretarial Auditors;

- Setting up of Vigil Mechanism;

- Constitution of Corporate Social Responsibility Committee;

- Identification of Related parties as per new Act;

13. Directors

Your Board recommends the re-appointment of Mr. J. P. Agarwal, Managing Director cum Chairman, Mr. Kapil Agarwal, Executive Director of the Company, appointment of Mr. Vinod Chaudhary as Non- Executive Independent Director and Mrs. Geeta Devi Agarwal as Non-Executive cum woman Director of the Company in terms of the Companies Act, 2013.

The Board has received declarations from Mr. Vinod Choudhary, the Independent Director of the Company confirming that he meets with the criteria of independence as prescribed under sub-

section (6) of Section 149 of the Companies Act, 2013 and who in the opinion of the Board fulfils the conditions specified in the Act and the rules made there under and are Independent of the management. Thus the Board recommends his appointment as Independent Director.

Brief resume/details of the Director, who is/are to be appointed/re-appointed as mentioned herein above has been furnished alongwith the Explanatory Statement to the Notice of the ensuing Annual General Meeting.

14. Auditors and Auditor''s Report

The Statutory Auditor M/s A. Bafna & Company, Chartered Accountants, Jaipur, will retire at the ensuing Annual General Meeting and being eligible for re-appointment, offer themselves for re- appointment.

Your Company has received a Certificate from the Auditors to the effect that, their reappointment, if made, will be in accordance with Sections 139 and 141 of the Companies Act, 2013.

The Notes on Financial Statements referred to in the Auditors'' Report are self-explanatory and do not call for any further comments.

15. Management''s Discussion and Analysis Report

Management''s Discussion and Analysis Report for the year under review, as stipulated under Clause 49 of the Listing Agreement with the Stock Exchanges in India, is presented in a separate section forming part of the Annual Report.

16. Listing

The shares of your Company are presently listed on BSE.

17. Note of Appreciation

Your Directors wish to place on record their sincere appreciation for the continued support and co- operation of Financial Institutions, Banks, Government authorities and other stakeholders. Your Directors also acknowledge sincere appreciation of the commitment and hard work put in by the management and all employees of the company.

Your Directors also thank the Government of India and the concerned State Governments, Government Departments and various Agencies for their co-operation. The Directors appreciate and value the contributions made by every member of the PIL family. Propelled by your Company''s strong vision and powered by internal vitality, your Directors look forward to the future with confidence.

Bedla, Udaipur By Order of the Board 30th May, 2014

Registered Office Sd/- Village : Survey No. 13, Kempalingahalli, J. P. Agarwal Nelamangala Taluk (Rural) Chairman & Managing Director Bangalore - 562123 (Karnataka).


Mar 31, 2013

Dear Members,

The Directors present the 24th Annual Report of the working of the Company along with the statement of accounts and the Auditors'' Report for the year ended 31 st March, 2013.

1. Financial Results

(Rs in Lac)

Year ended Year ended PARTICULARS 31.03.2013 31.03.2012 (Audited) (Audited)

Turnover 8825.11 5810.79

Profit before Tax 1089.54 564.35

Less: Provision for Income Tax

Current Tax 220.47 114.53

Prior period Tax expenses 4.43

Net Profit after Tax 864.64 449.82

Add: Profitbrought forward from previous year 4008.64 3558.82

Profit available for Appropriation 4873.28 4008.64

Net Profit carried forward 4873.28 4008.64

2. Business Results

During the year the turnover of the company has been increased by 51.87% to Rs. 8825.11 lakh as against Rs. 5810.79 Lakh in the previous year. The Net Profit after Tax of the Company is Rs.864.64 Lakh as against Rs.449.82 Lakh in the previous year.

3. Dividend and transfer to Reserve

Your directors have not recommended any dividend for the year 2012-2013 and the entire surplus is proposed to be transferred to the reserves to give financial leverage to the Company.

4. Directors'' Responsibility Statement

As required under Section 217(2AA) of the Companies Act, 1956, your Directors confirm having:

s followed in the preparation of the Annual Accounts, the applicable accounting standards with proper explanation relating to material departures, if any;

s selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of your Company at the end of the financial year and of the profit of your Company for that period;

s 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 your Company and for preventing and detecting fraud and other irregularities; and

s prepared the annual accounts on a going concern basis.

The above statements were noted by the Audit Committee at its meeting held on May 30,2013.

5. Statutory Disclosures

None of the Directors are disqualified under the provisions of Section 274(1 )(g) of the Companies Act, 1956. The Directors have made the requisite disclosures, as required under the provisions of the Companies Act, 1956 and Clause 49 of the Listing Agreement.

6. Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo

The Information relating to conservation of energy, technology absorption and foreign exchange earnings and outgo as per 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, is appended as Annexure "A" and forms part of the Report.

7. Particulars of Employees

None of the Employee of the Company has been paid such remuneration which attracts provisions of Section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975, hence requirement of disclosure under section 217(2A) of the , Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 doesn''t arise.

8. Corporate Governance

Pursuant to Clause 49 of the Listing Agreement with the Stock Exchanges, a separate section titled as ''Corporate Governance'' has been included in this Annual Report, along with the reports on ''Management Discussion and Analysis'' and ''Shareholder Information''. All board members and senior management personnel have affirmed compliance to the Code of Conduct for the FY 2012-13.

All board members and senior management personnel have affirmed compliance to the Code of Conduct for the FY 2012-13.

9. Capital Investments

Your Company has made an investment of Rs.312.21 Lacs in capital assets during the year to increase the production capacities for extraction of granite from mines for captive consumption.

10. Fixed Deposits

During the year under review, your Company has not accepted any deposit under Section 58A and 58AAof the Companies Act, 1956, read with Companies (Acceptance of Deposits) Rules, 1975

11. Corporate Social Responsibility

The philosophy and practice of sustainability and business ethics has been a matter of abiding interest and faith to your Company. Your Company has always seen its interests as inseparable from that of the community.

As a part of our social responsibility we try to promote social welfare through the following educational institutions

s Geetanjali Medicity

s Geetanjali Institute of Technical Studies

s Geetanjali College of Pharmaceuticals Studies

12. Directors

Mr. Sumit Agarwal and Mr. Amit Agarwal, Directors of the Company, liable to retire by rotation, retire at the ensuing Annual General Meeting and being eligible, offer themselves for re- appointment. The necessary resolutions are presented in Annual General Meeting for your approval.

13. Auditors and Auditor''s Report

The Statutory Auditor M/s A. Bafna & Company, Chartered Accountants, Jaipur, will retire at the ensuing Annual General Meeting and being eligible for re-appointment, offer themselves for re-appointment. Your Company has received a Certificate from the Auditors to the effect that, their reappointment, if made, will be in accordance with the limit specified in sub section (1B) of the section 224 of the Companies Act, 1956.

The observations made in the Independent Auditors'' Report, read together with the relevant notes thereon are self-explanatory and hence, do not call for any further comments under section 217 of the Companies Act, 1956.

14. Note of Appreciation

Your Directors wish to place on record their sincere appreciation for the continued support and co-operation of Financial Institutions, Banks, Government authorities and other stakeholders. Your Directors also acknowledge sincere appreciation of the commitment and hard work put in by the management and all employees of the company.

Your Directors also thank the Government of India and the concerned State Governments, Government Departments and various Agencies for their co-operation. The Directors appreciate and value the contributions made by every member of the PIL family. Propelled by your Company''s strong vision and powered by internal vitality, your Directors look forward to the future with confidence.

BedlaUdaipur By Order of the Board

30th May 2013 Sd/-

(J. P. Agarwal)

Registered Office Chairman & Managing Director

Village: Survey

No. 13, Kempalingahalli

Nelamangala Taluk (Rural)

Bangalore - 562123 (Karnataka)


Mar 31, 2011

Dear Members,

The Directors present the 22nd Annual Report of the working of the Company along with the statement of accounts and the Auditors' Report for the year ended 31st March, 2011.

1. Financial Results

Year ended Year ended PARTICULARS 31.03.2011 31.03.2010 (Audited) (Audited) [Rs. in Lac] Turnover 6077.34 6726.49

Profit/ (Loss) before Tax 447.04 987.62

Less: Provision for Income Tax

- Current Tax 93.49 167.85

- Prior period Tax expenses 0 21.55

Net Profit (Loss) after Tax 353.55 798.21

Add: Profit/ (Loss) brought forward from previous year 3202.52 2410.21

Less: Prior Period Adjustment 2.74 5.90

Profit available for Appropriation 3558.82 3202.52

Net Profit (Loss) carried forward 3558.82 3202.52



2. Business Results

Your Company achieved a turnover of Rs.6077.34 lakh during the period under review. This was mainly due to the in demand in the global market. The Net Profit after Tax of the Company is Rs.353.55 Lakh as against Rs.798.21 Lakh in the previous year. The decrease in the Net Profit is due to increase in Material & operating Cost.

3. Dividend

Your directors have not recommended any dividend for the year 2010-2011 and the entire surplus is proposed to be transferred to the reserves to give financial leverage to the Company.

4. Directors' Responsibility Statement

As required under Section 217(2AA) of the Companies Act, 1956, your Directors confirm having:

- followed in the preparation of the Annual Accounts, the applicable accounting standards with proper explanation relating to material departures, if any ;

- 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 your Company at the end of the financial year and of the profit of your Company for that period;

- 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 your Company and for preventing and detecting fraud and other irregularities; and

- prepared the annual accounts on a going concern basis.

The above statements were noted by the Audit Committee at its meeting held on August 27, 2011.

5. Statutory Disclosures

None of the Directors are disqualified under the provisions of Section 274(1)(g) of the Companies Act, 1956. The Directors have made the requisite disclosures, as required under the provisions of the Companies Act, 1956 and Clause 49 of the Listing Agreement.

6. Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo

The Information relating to conservation of energy, technology absorption and foreign exchange earnings and outgo as per 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, is appended as Annexure "A" and forms part of the Report.

7. Particulars of Employees

None of the Employee of the Company has been paid such remuneration which attracts provisions of Section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975, hence requirement of disclosure under section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 doesn't arise.

8. Corporate Governance

Pursuant to Clause 49 of the Listing Agreement with the Stock Exchanges, a separate section titled as 'Corporate Governance' has been included in this Annual Report, along with the reports on 'Management Discussion and Analysis' and 'Shareholder Information'. All board members and senior management personnel have affirmed compliance to the Code of Conduct for the FY 2010-11.

A Certificate from the Statutory Auditors of the Company regarding compliance of conditions and provisions of the Corporate Governance is enclosed as Annexure 'B' to this report.

9. Capital Investments

Your Company has not taken up any Capital investments project during the year.

10. Fixed Deposits

During the year under review, your Company has not accepted any deposit under Section 58A and 58AA of the Companies Act, 1956, read with Companies (Acceptance of Deposits) Rules, 1975.

11. Investor Services

The investor service facility of your Company strives to cater to the increasing expectations of the investors by keeping its services contemporary backed with the best of the state of the art infrastructure and systems.

The electronic messaging facility enables the investors to directly lodge their complaints to the Compliance Officer of the Company on pacificinvestor@rediffmail.com. It is also published in English as well as vernacular newspapers, which enjoy wide circulation in the State where the registered office of the Company is situated.

12. Human Capital

Your Company views its workers as caring and dedicated to the business and the management trusts in them and asks for their input on important decisions. The result, at Pacific Industries, is a trusting culture built assiduously and nurtured over the years. Due to this environment of mutual trust and respect, even in these turbulent times your company managed to keep the morale of the employees high.

The Directors would like to place on record their sincere appreciation to the employees for their continued cooperation in maintaining harmonious industrial relations, production and productivity.

Training

Your Company makes it a point to impart Training and Skills to staff and employees to acquire more competence in their respective areas of operation. This makes them appropriately respond to diverse work situations. Simultaneously PIL also ensures the professional growth of employees enabling them to acquire mastery over their respective jobs.

Your Company had 251 employees on roll as on 31st March, 2011.

13. Corporate Social Responsibility

The philosophy and practice of sustainability and business ethics has been a matter of abiding interest and faith to your Company. Your Company has always seen its interests as inseparable from that of the community.

As a part of our social responsibility we try to promote social welfare through the following educational institutions

- Geetanjali Medicity

- Geetanjali Institute of Technical Studies

- Geetanjali College of Pharmaceuticals Studies

14. Directors

Mr. Devendra Maliwal and Mr. Mangi Lal Dangi, Directors of the Company retire by rotation and being eligible, offer themselves for re-appointment. The term of appointment of M r. J. P. Agarwal will be end on 29th Sept., 2011. The Board has already approved their reappointment as managing director with effect from 30th Sept., 2011. The term of Mr. Kapil Agarwal as whole time director has ended on 22nd July, 2011. The board has approved reappointment of Mr. Kapil Agarwal as whole time director with effect from 23rd July, 2011. The necessary resolution are presented in Annual General Meeting for your approval.

15. Auditors and Auditor's Report

The Auditors M/s A. Bafna & Company, Chartered Accountants, Jaipur, retire at the ensuing Annual General Meeting and being eligible, offer themselves for re-appointment. Your Company has received a Certificate from the Auditors to the effect that their appointment, if made, would be within the limits of Section 224(1B) of the Companies Act, 1956.

The observations made in the Auditors' Report, read together with the relevant notes thereon are self-explanatory and hence, do not call for any comments under section 217 of the Companies Act,1956.

16. Note of Appreciation

Your Directors wish to place on record their deep appreciation for the continued support and co-operation of Financial Institutions, Banks, Government authorities and other stakeholders. Your Directors also acknowledge the support extended by all employees for their dedicated service.

Your Directors also thank the Government of India and the concerned State Governments, Government Departments and various Agencies for their co-operation. The Directors appreciate and value the contributions made by every member of the PIL family. Propelled by your Company's strong vision and powered by internal vitality, your Directors look forward to the future with confidence.

On Behalf of the Board Place : Udaipur Sd/-

Dated : 27.08.2011 (J. P. Agarwal)

Chairman & Managing Director


Mar 31, 2010

The Directors present the 21st Annual Report of the working of the Company along with the statement of accounts.and the Auditors Report for the year ended 31st March, 2010.

1. FINANCIAL RESULTS:

Year ended Year ended 31.03.2009 PARTICULARS 31.03.2Q10 (Audited) (Audited) [Rs. in Lac]

"Turnover 6726.49 6020.38

Profit/ (Loss) before Tax 987.62 1418.37

Less: Provision For Income Tax

- Current Tax 167.85 170.12

- Prior period Tax Expense 21.55 11.64

Net Profit (Loss) after Tax , 798.21 1236.61

Add: Profit/ (Loss) brought forward 2410.21 1226.94 from previous year

Less: Prior Period Adjustment 5.90 53.34

Less: Adjusted on account of Reduction - - of Share Capital :

Profit available for Appropriation 3202.52 2410.21

Net Profit (Loss) carried forward 3202.52 2410.21

2. Business Results

Your Company achieved a turnover of Rs. 6726.49 lakh during the period under review which was marginally high than last year 2008-09 i.e., Rs. 6020.38 lakh. This was mainly due to the increase in demand in the global market. The Net Profit after Tax of the Company is Rs.798.21 Lakh as against Rs. 1236.61 Lakh in the previous year. The decrease in the Net Profit is due to increase in Material & operating Cost.

3. Dividend

Your directors have not recommended any dividend for the year 2009-2010 and the entire surplus is proposed to be transferred to the reserves to give financial leverage to the Company.

4. Directors Responsibility Statement:

As required under Section 217(2AA) of the Companies Act, 1956, your Directors confirm having:

- followed in the preparation of the Annual Accounts, the applicable accounting standards with proper explanation relating to material departures, if any ;

- selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of your Company at the end of the financial year and of the profit of your Company for that period;

- 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 your Company and for preventing and detecting fraud and other irregularities; and

- prepared the annual accounts on a going concern basis.

The above statements were noted by the Audit Committee at its meeting held on August 31, 2010.

5. Statutory Disclosures

None of the Directors are disqualified under the provisions of Section 274(l)(g) of the Companies Act, 1956. The Directors have made the requisite disclosures, as required under the provisions* of the Companies Act, 1956 and Clause 49 of the Listing Agreement.

6. Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo

The Information relating to conservation of energy, technology absorption and foreign exchange earnings and outgo as per Section 217(l)(e) of the Companies Act, 1956, read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988, is appended as Annexure "A" and forms part of the Report.

7. Particulars Of Employees

None of the Employee of the Company has been paid such remuneration which attracts provisions of Section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975, hence requirement of disclosure under section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 doesnt arise.

8. Corporate Governance

Pursuant to Clause 49 of the Listing Agreement with the Stock Exchanges, a separate section titled as Corporate Governance has been included in this Annual Report, along with the reports on Management Discussion and Analysis and Shareholder Information. All board members and senior management personnel have affirmed compliance to the Code of Conduct for the FY 2009-10

A Certificate from the Statutory Auditors of the Company regarding compliance of conditions and provisions of the Corporate Governance is enclosed as Annexure B to this report.

9. Capital Investment

Your Company has not taken up any Capital investments project during the year.

10. Fixed Deposits

During the year under review, your Company has not accepted any deposit under Section 58A and 58AA of the Companies Act, 1956, read with Companies (Acceptance of Deposits) Rules, 1975.

11. Investor Services

The investor service facility of your Company strives to cater to the increasing expectations of the investors by keeping its services contemporary backed with the best of the state of the art infrastructure and systems.

The electronic messaging facility enables the investors to directly lodge their complaints to the Compliance Officer of the Company on pacificinvestor&rediffmail.com. It is also published in English as well as vernacular newspapers, which enjoy wide circulation in the State where the registered office of the Company is situated.

12. Availability Of Information On Electronic Data Information Filing And Retrieval System (Edifar) System

SEBI vide circular no SEBI/CFD/DIL/LA/4/2007/27/12 dated December 27, 2007 informed that EDIFAR will be phased out gradually. In view of new portal viz. Corporate Filing and Dissemination System (CFDS) put in place jointly by BSE and NSE at the URL www.corpfiling.co.in. SEBI has since discontinued the EDIFAR system w.e.f from April 1, 2010.

13. Human Capital

Your Company views its workers as caring and dedicated to the business and the management trusts in them and asks for their input on important decisions. The result, at Pacific Industries, is a trusting culture built assiduously and nurtured over the years. Due to this environment of mutual trust and respect, even in these turbulent times your company managed to keep the morale of the employees high.

The Directors would like to place on record their sincere appreciation to the employees for their continued cooperation in maintaining harmonious industrial relations, production and productivity.

Training

Your Company makes it a point to impart Training and Skills to staff and employees to acquire more competence in their respective areas of operation. This makes them appropriately respond to diverse work situations .Simultaneously PIL also ensures the professional growth of employees enabling them to acquire mastery over their respective jobs.

Your Company had 196 employees on roll as on 31st March, 2010.

14. Corporate Social Responsibility

The philosophy and practice of sustainability and business ethics has been a matter of abiding interest and faith to your Company. Your Company has always seen its interests as inseparable from that of the community.

As a part of our social responsibility we try to promote social welfare through the following educational institutions:

- Geetanjali Medicity.

- Geetanjali Institute of Technical Studies

- Geetanjali College of Pharmaceuticals Studies

15. Directors

Mr. Sumit Agarwal and Mr. Amit Agarwal, Directors of the Company retire by rotation and being eligible, offer themselves for re-appointment.

16; Auditors and Auditors Report

The Auditors M/s A. Bafna & Company, Chartered Accountants, Jaipur, retire at the ensuing Annual General Meeting and being eligible, offer themselves for re-appointment. Your Company has received a Certificate from the Auditors to the effect that their appointment, if made, would be within the limits of Section 224(1B) of the Companies Act, 1956.

The observations made in the Auditors Report, read together with the relevant notes thereon are self-explanatory and hence, do not call for any comments under section 217 of the Companies, Act,1956.

17. Note of Appreciation

Your Directors wish to place on record their deep appreciation for the continued support and co- operation of Financial Institutions, Banks, Government authorities and other stakeholders. Your Directors also acknowledge the support extended by all employees for their dedicated service.

Your Directors also thank the Government of India and the concerned State Governments, Government Departments and various Agencies for their co-operation. The Directors appreciate and value the contributions made by every member of the PIL family. Propelled by your Companys strong vision and powered by internal vitality, your Directors look forward to the future with confidence.

On Behalf of the Board of Directors Sd/- PLACE :Bedla,Udaipur (J.P.Agarwal) DATED:31 st August,2010 Chairman &Managing Director

 
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