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Directors Report of Vimal Oil & Foods Ltd.

Mar 31, 2015

Dear Members,

The Directors have pleasure in presenting the Twenty Third Annual Report with the Audited Accounts for the financial year ended March 31, 2015.

FINANCIAL SUMMARY :

(Rs. in lakhs)

PARTICULARS Current Year Previous Year

2014-15 2013-14

Sales Including Other Income 303484.70 228212.81

Profit Before Interest, Depreciation & 9668.21 7285.76 Taxation

Interest & Financial charges 6370.84 4278.67

Depreciation 744.69 311.84

Profit Before Taxation 2552.68 2695.26

Provision For Taxation including Deferred 747.68 979.96 Tax

Profit After Tax 1805.00 1715.30

Less : Adjustments Related to Fixed Assets 55.69 0.00

Adding Thereto: Balance B/F From Previous 4496.51 3195.78 Year

Amounts Available For Appropriation 6245.82 4911.08

Appropriations:

Dividend & Dividend Tax 349.33 339.57

General Reserve 75.00 75.00

Balance carried Forward 5821.48 4496.51

The Company's operations, continued to be satisfactory. The total revenue if the Company has increased by 32.98% (approx) as compared to previous year. The total export sales for the year ended March 31, 2015 was Rs. 4608.83 lakhs as against Rs. 4173.54 lakhs for the previous financial year.

TRANSFER TO RESERVE

The Company proposes to transfer an amount of Rs. 75.00 Lakhs to the General Reserves.

DIVIDEND

The Directors recommends a final dividend of Rs. 0.60 (6%) per share on 50,00,000 nos. 6% Non Cumulative Redeemable Preference Shares, Rs. 0.80 (8%) per share on 1,00,00,000 nos. 8% Non Cumulative Redeemable Preference Shares and Rs. 1.20 (12%) per share on the paid up equity share capital of the Company.

FIXED DEPOSIT

The Company neither accepted nor invited any deposit from the public, within the meaning of Section 73 of the Companies, Act, 2013 and the Rules made thereunder.

NATURE OF BUSINESS

The Company is engaged in the business of manufacturing and trading of edible oils and Namkeen Products under its own brand name - "VIMAL", with a strong focus on quality. Vimal Oil and Foods Limited is always committed to quality and integrity, and that's what is reflected in its products that never fail to delight its customers. Further, during the year 2014-15, there was no change in the nature of business of the Company.

LISTING

i. The Company's Shares are listed on the BSE Limited, Mumbai (BSE) and the National Stock Exchange of India Limited, Mumbai (NSE).

ii. For the year 2014-15, the Company has paid annual listing fee to BSE and NSE.

SUBSIDIARIES

M/s. Vimal Dairy Limited ceased to be a subsidiary since 52% stake sold by the Company on June 26, 2015. Further, on August 27, 2015 the Company has acquired 100% equity shares of M/s. Brinda Exports Limited. Therefore, M/s. Brinda Exports Limited becomes wholly-owned subsidiary of the Company.

Therefore, at present the Company has one wholly-owned subsidiary i.e. M/s. Brinda Exports Limited.

During the financial year 2014-15, the Board of Directors reviewed the affairs of the subsidiary (M/s. Vimal Dairy Limited). In accordance with Section 129 of the Companies Act, 2013, the Company has prepared consolidated financial statement of the Company as on March 31, 2015, which forms part of this Annual Report.

Further, a statement containing the salient features of the financial statement of our subsidiary in the prescribed format AOC-1 is set out in an annexure as 'Annexure 1' to this Board's Report. The statement also provides the details of performance, financial positions of the subsidiaries.

In accordance with the Section 136 of the Companies Act, 2013, the audited financial statement, including the consolidated financial statement as on March 31, 2015 and related information of the Company and audited accounts of the subsidiary, are available on the website of the Company i.e. www.vimaloil.com. These documents will also be available for inspection during business hours at the registered office of the Company.

CONSOLIDATED FINANCIAL STATEMENT

Pursuant to Clause 32 and 41 of the Listing Agreement and Accounting Standard 21 issued by the Institute of Chartered Accountants of India, the Board of Directors has pleasure in attaching the Audited Consolidated financial statements including the financial statements of subsidiary company.

ANNUAL RETURN

The extract of Annual Return as prescribed under Section 92(3) of the Companies Act, 2013 read with Rule 12 of the Companies (Management and Administration) Rules, 2014, is set out in an annexure as 'Annexure 2' to this Board's Report.

DIRECTORS

In accordance with the provisions of the Companies Act, 2013 and in terms of the Memorandum and Articles of Association of the Company, Shri Jayesh C. Patel (DIN-00027767), Director of the Company retires by rotation at the ensuing Annual General Meeting and is eligible for re-appointment.

Further, Shri Mahendrabhai V. Patel (DIN - 00027822) resigned from the Board of Directors of the Company with effect from October 10, 2014. The Board placed on record their deep sense of appreciations for the valuable contribution and guidance provided by Shri Mahendrabhai V. Patel to the Company during his tenure of office as Director of the Company.

The information of Director(s) seeking re-appointment, details pertaining to brief resume and expertise in functional area is furnished in the notes.

All the Independent Directors have submitted the declaration to the Company that they meet the criteria of independence, as per section 149(6) of the Companies Act, 2013 and Clause 49 of the Listing Agreement.

ANNUAL PERFORMANCE EVALUATION

In compliance with the provision of the Companies Act, 2013 and Clause 49 of the Listing Agreement, the Board has carried out the annual performance evaluation of its own and the Directors individually and reported under the Corporate Governance Report as annexed hereto.

MEETINGS OF BOARD

During the financial year 2014-2015, Eleven (11) Board Meetings were convened and held. The details of which are given in the Corporate Governance Report. The intervening gap between the Meetings was within the period prescribed under the Companies Act, 2013.

DIRECTORS' RESPONSIBILITY STATEMENT

Based on the framework of internal financial controls established and maintained by the Company, work performed by the internal, statutory, cost and secretarial auditors, the reviews performed by Management and the relevant Board Committees, the Board, with the concurrence of the Audit Committee, is of the opinion that the Company's internal financial controls were adequate and effective as on March 31, 2015.

Pursuant to Section 134 of the Companies Act, 2013, the Board of Directors of the Company hereby state and confirm that:

(a) that in the preparation of the annual accounts for the year ended March 31, 2015, the applicable accounting standards have been followed along with proper explanation relating to material departures, if any;

(b) that we have 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 the company at March 31, 2015 and of the profits of the company for the year ended March 31, 2015;

(c) that proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

(d) that the annual accounts have been prepared on a going concern basis;

(e) that proper systems to ensure compliance with the provisions of all applicable laws were in place and that such systems were adequate and operating effectively; and

(f) that proper internal financial controls were laid down and that such internal financial controls are adequate and were operating effectively.

AUDITORS AND AUDIT

* Statutory Auditors

Consequent to the casual vacancy caused by the resignation of M/s R R S & Associates, Chartered Accountants, Ahmedabad (Firm Registration Number 118336W), resigned with effect from August 27, 2015 , the Board of Directors of the Company, on the recommendation of the Audit Committee, approved the appointment of M/s. S. D. Mehta & Co., Chartered Accountants, Ahmedabad (Firm Registration Number 137193W) as the Auditors (Statutory) of the Company, to fill the said casual vacancy so caused.

There are no qualifications or adverse remarks in the Auditors' Report which require any clarification/explanation. The Notes on financial statements are self explanatory, if any, and needs no further explanation. However, with regard to the amount not spent under the Corporate Social Responsibility, it is clarify that the Company is in the process of identifying programs / projects / agencies for CSR spending.

The members of the Audit Committee and Board of Directors of the Company proposes the appointment of M/s. S. D. Mehta & Co., Chartered Accountants, Ahmedabad (Firm Registration Number 137193W) as the Auditors (Statutory) of the Company to hold office till the conclusion of 28th Annual General Meeting for a period of 5 (five) years, subject to the approval of members.

* Secretarial Auditor

Pursuant to the provisions of section 204 of the Companies Act, 2013 read with Rule 9 of the Companies (Appointment and Remuneration personnel) Rules, 2014, the Board of Directors appointed M/s. Bharat Prajapati & Co., Practicing Company Secretaries, Ahmedabad as Secretarial Auditor to conduct the Secretarial Audit of the Company for Financial Year 2014-15. The Report of the Secretarial Audit Report is set out in an annexure as 'Annexure 3' to this Board's Report.

In connection, with the auditors' observations in the Secretarial Audit Report, the explanation / clarifications of the Board of Directors are as under:

(i) With regard to the appointment of woman director, it is clarified that the Company is seeking eligible candidate to appoint as a woman director.

(ii) With regard to the reconstitution of Nomination and remuneration committee, it is clarified that the company is seeking and eligible candidate to appoint as a Non Executive & Independent Director, so that the nomination and remuneration committee would be reconstituted.

(iii) With regard to not spend amount under the Corporate Social Responsibility, it is clarify that the Company is in the process of identifying programs / projects / agencies for CSR spending.

* Cost Auditor

In compliance with the provisions of Section 148 (3) of Companies Act, 2013 read with The Companies (Cost Records and Audit) Amendment Rules, 2014, the Directors, on the recommendation of the Audit Committee, the Board of Directors has appointed M/s. S A & Associates, Cost Accountants, as the Cost Auditor of the Company for the financial year 2015-16 on a remuneration amounting to Rs. 75,000/- (Rupees seventy Five Thousand Only), subject to the ratification of remuneration by the shareholders of the Company in the ensuing General Meeting. M/s. S A & Associates have good experience in the field of cost audit and have conducted the audit of the cost records of the Group Companies for the previous year.

The due date for filing the Cost Audit Report of the Company for the Financial Year ended March 31, 2014 was September 30, 2014 and the Cost Audit Report was filed in XBRL mode by the Cost Auditor on May 7, 2015.

PARTICULARS OF EMPLOYEES

The particulars of employees in accordance with the provisions of Section 197 of the Companies Act, 2013, read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, is set out in an annexure as 'Annex-ure 4' to this Board's Report.

The particulars of employees falling under the purview of Section 197 read with Rule 5(2) of The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are NIL.

INDUSTRIAL RELATIONS

The Company's relations with its employees remained cordial throughout the year. The Directors wish to place on record their deep appreciation of the devoted services by workers, staff and executives of the Company.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS

During the financial year 2014-15, the Company has not given any Loans / Guarantees and made Investments as covered under the provisions of Section 186 of the Companies Act, 2013.

RELATED PARTY TRANSACTIONS

All the transactions entered into with related parties as defined under the Companies Act, 2013 and Clause 49 of the Listing Agreement, if any, during the year were on an arm's length price basis and in the ordinary course of business. Such transactions have been approved by the Audit Committee.

The Board of Directors of the Company has formulated the Policy on Related Party Transactions. Such Policy is available on the website of the Company i.e.www.vimaloil.com.

During the Financial Year 2014-15, the Company did not have any material pecuniary relationship or transactions with NonExecutive Directors. In the preparation of Financial Statement, the Company has followed the Accounting Standards. The significant accounting policies which are applied have been set out in the Notes to Financial Statement. The Board has received disclosures from Key Managerial Personnel, relating to material, financial and commercial transactions where they and/or their relatives have personal interest. There are no materially significant related party transactions which have potential conflict with the interest of the Company at large.

MATERIAL CHANGES AND COMMITMENTS

There are no material changes and commitments, affecting the financial position of the company, have occurred between the end of the financial year of the company to which the financial statements relate and to the date of this report.

However, till the date of this report-

(i) M/s. Vimal Dairy Limited ceased to be a subsidiary since 52% stake was sold by the Company on 26th June, 2015.

(ii) The Company has acquired 100% equity shares of M/s. Brinda Exports Limited. On 27th August, 2015. Therefore, M/s. Brinda Exports Limited becomes wholly-owned subsidiary of the Company.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREING EXCHANGE EARNINGS AND OUTGO

The particulars as prescribed under the Companies (Accounts) Rules, 2014, are set out in 'Annexure 5' to this Board's Report.

CORPORATE GOVERNANCE

As per Clause 49 of the Listing Agreement with the Stock Exchanges, a Compliance report on Corporate Governance forms part of Annual Report. The Auditor's Certificate on the compliance of Corporate Governance Code embodied in clause 49 of the Listing Agreement is attached hereto and forms part of this report.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Pursuant to Clause 49 of the Listing Agreement, the Management Discussion and Analysis Report is annexed after the Directors' Report and forms part of this Report.

RISK MANAGEMENT POLICY

The Board reviews the risks associated with the Company every year while considering the business plan. Considering the size of the Company and its activities, it is felt that the development and implementation of a Risk management policy is not relevant to the Company and in the opinion of the Board there are no risks which may threaten the existence of the Company.

CORPORATE SOCIAL RESPONSIBILITY

The composition of CSR Committee is given in the Corporate Governance Report. The Report on Corporate Social Responsibility is as set out in annexure as 'Annexure 6' to this Board's Report.

INTERNAL FINANCIAL CONTROL

The Company has established an Internal Control System, keeping in mind the size, scale and complexity of the operations of the business. The Company developed efficient policies and procedures to carry out its regular activities and for better compilation of data. All the business transactions were recorded timely and the financial records were maintained accurately. Internal financial controls were designed to provide reasonable assurance that the Company's financial statement were reliable and prepared in accordance with the applicable law.

Moreover, the Board of Directors of the Company, in compliance with the provision of the Companies Act, 2013, had appointed M/s. Kanabar & Associates, Chartered Accountants, Ahmedabad, as Internal Auditor for the financial year 2014-15 for better implementation of Internal Financial Control and safeguarding of the assets of the Company. Significant audit observations and corrective actions thereon were presented to the Audit Committee. Their work was satisfactory. Therefore, the Board of Directors of the Company, on recommendation of the Audit Committee, appointed M/s. Kanabar & Associates, Chartered Accountants, Ahmedabad, as Internal Auditor for the financial year 2015-16.

ESTABLISHMENT OF VIGIL MECHANISM

The Company promotes ethical behaviour in all its business activities and has put in place a mechanism for reporting illegal or unethical behaviour. The Company has adopted a Whistle-Blower Policy/ Vigil Mechanism, which provides a formal mechanism for all employees of the Company to make protected disclosures to the Management about unethical behavior, actual or suspected fraud or violation of the Company's Code of Conduct. Disclosures reported are addressed in the manner and within the time frames prescribed in the Policy. During the year under review, no employee of the Company has been denied access to the Audit Committee.

MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS

There was no material order passed by the regulator or court or tribunal impacting the going concern status and company's operations in future. However, following order was passed by the Hon'ble Gujarat High Court during the financial year 2014-15.

Sr. No Details of Case Name of regulators or courts or tribunals

1. Special Civil Application Hon'ble Gujarat High Court No. 17830 of 2013 Vimal Oil & Foods Ltd V/s. (i) State of (M) Deputy Collector and (iii) Sub-Reg istrar Matter of recovery of deficit stamp duty of Rs. 44,99,700/- Plus Rs. 300/- Penalty and deficit registration fees of six transactions of Rs. 25,000/-

Sr. No Matter of Order

1. The Hon'ble Gujarat High Court passed the order dated 18.07.2014 and allow the petition and quashed the order passed by the Superintendent of stamp, Gandhinagar regarding recovery of defi- cit stamp duty of Rs. 44,99,700/- Plus Rs. 300/- Penalty and deficit registration fees

BOARD COMMITTEE

The Board of Directors of your Company had already constituted various Committees in compliance with the provisions of the Companies Act, 2013 and/or Listing Agreement viz. Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee, Corporate Social Responsibility Committee. The said committees are re-constituted as and when required.

All decisions pertaining to the constitution of Committees, appointment of members and fixing of terms of reference / role of the Committee are taken by the Board of Directors.

Details of the role and composition of these Committees, including the number of meetings held during the financial year and attendance at meetings, are provided under section "Report on Corporate Governance" of the Annual Report.

INDEPENDENT DIRECTORS MEETING

During the year under review, the Independent Directors of the Company met on March 9, 2015 inter alia to discuss:

i) Evaluation of Performance of Non-Independent Directors and the Board of Directors of the Company as a whole.

ii) Evaluation of performance of the Chairman and / or Managing Director of the Company, taking into views of Executive and Non-executive Directors.

iii) Evaluation of the quality, content and timelines of flow of information between the Management and the Board that is necessary for the Board to effectively and reasonably perform its duties.

POLICY ON DIRECTORS' APPOINTMENT AND REMUNERATION

The current policy is to have an appropriate mix of executive and independent directors to maintain the independence of the Board, and separate its functions of governance and management. The policy of the Company on Directors' appointment and remuneration, including criteria for determining qualifications, positive attributes, independence of a Director and other matters provided under Sub section (3) of Section 178 of the Companies Act, 2013, adopted by the Board, is set out in annexure as 'Annexure 7' to this Board's Report. We affirm that the remuneration paid to the Directors and other employees are as per the terms laid out in the Nomination and Remuneration Policy of the Company.

SEXUAL HARASSMENT POLICY

The Company has in place a Prevention of Sexual Harassment Policy in line with the requirements of the Sexual Harassment of Women at the Workplace (Prevention, Prohibition and Redressal) Act, 2013. An Internal Complaints Committee has been set up to redress complaints received regarding sexual harassment. All employees (permanent, contractual, temporary, trainees) are covered under this policy. During the year 2014-2015, no complaints were received by the Company related to sexual harassment.

ACKNOWLEDGEMENT

Your Directors wish to place on record their sincere appreciation and gratitude for the valuable support and co-operation received from the Customers and Suppliers, various Financial Institutions, Banks, Government Authorities, Auditors and Shareholders during the year under review. Your Directors wish to place on record their deep sense of appreciation for the devoted services of the Executives, Staff and Workers of the Company for its success.

On behalf of Board of Directors For, VIMAL OIL & FOODS LIMITED

Place: Ahmedabad JAYESH C. PATEL Date: August 27, 2015 CHAIRMAN & MANAGING DIRECTOR


Mar 31, 2014

The Members,

The Directors have pleasure in presenting the Twenty Second Annual Report with the Audited Accounts for the financial year ended March 31, 2014.

FINANCIAL RESULTS: (Rs. in lakhs)

PARTICULARS Current Year Previous Year 2013-14 2012-13

Sales Including Other Income 228212.81 194825.60

Profit Before Interest, Depreciation & Taxation 7285.76 5478.32

Interest & Financial charges 4278.67 2995.33

Depreciation 311.84 280.35

Profit Before Taxation 2695.25 2202.64

Provision For Taxation including Deferred Tax 979.96 696.59

Profit After Tax 1715.29 1506.05

Adding Thereto: Balance B/F From Previous Year 3195.78 2051.84

Amounts Available For Appropriation 4911.07 3557.89

Appropriations:

Dividend & Dividend Tax 339.57 287.12

General Reserve 75.00 75.00

Balance carried Forward 4496.50 3195.78

DIVIDEND:

The Directors recommends a final dividend of Rs. 0.60 (6%) per share on 50,00,000 nos. 6% Non Cumulative Redeemabl Preference Shares,Rs. 0.80 (8%) per share on 1,00,00,000 nos. 8% Non Cumulative Redeemable Preference Shares and Rs. 1.2 (12%) per share on the paid up equity share capital of the Company.

OPERATIONS:

The Company's operations, continued to be satisfactory:

( Rs. in lakhs)

2013-14 2012-13

Sales Including Other Income 228212.81 194825.60

Profit after tax 1715.29 1506.05

The sales including other income for the year ended March 31, 2014 was Rs. 228212.81 Lakhs as againstRs. 194825.60 Lakhs for the previous financial year. The total revenue of the Company has increased by 17% (approx) as compared to the previous year.

The total export sales for the year ended March 31, 2014 was Rs. 4173.54 lakhs as againstRs. 2764.85 lakhs for the previous financial year. The Profit Before Tax (PBT) was Rs. 2695.25 lakhs and the Profit After Tax (PAT) was Rs. 1715.29 lakhs for the year ended on March 31, 2014 as against PBT for the previous year was recorded as Rs.2202.64 lakhs and PAT was recorded as Rs. 1506.05 lakhs.

FIXED DEPOSITS:

The Company has not accepted any Fixed Deposits from the public and it is therefore not required to comply with the require- ment under Non-Banking Non-Financial companies (Reserve Bank) Directions, 1966 and Companies (Acceptance of Deposits) Rules, 1975.

1 SUBSIDIARIES:

Vimal Dairy Limited has become a subsidiary Company w.e.f. February 26, 2013. At the year ended on March 31, 2014, the Company has one subsidiary company in India.

Pursuant to the general exemption granted by the Ministry of Corporate Affairs, Government of India vide General Circular No. 2/2011 dated 8th February, 2011 and resolution passed by the Board of Directors on May 27, 2014 copy of Balance Sheet, Statement of Profit and Loss, Report of the Board of Directors and the Report of the Auditors of subsidiary company have not been attached with the annual accounts of the Company under Section 212 of the Companies Act, 1956. As required under the above said circular, a statement containing the information of subsidiaries is attached and forms part of this Annual Report.

The annual accounts of the subsidiary companies and the related information are available for inspection by any shareholder at the registered office of the Company during business hours and make them available upon the request by any shareholder of the Company.

CONSOLIDATED FINANCIAL STATEMENTS

Pursuant to clause 32 and 41 of the Listing Agreement and Accounting Standard 21 issued by the Institute of Chartered Accoun- tants of India, the Board of Directors has pleasure in attaching the Audited Consolidated financial statements including the financial statements of subsidiary company.

DIRECTORS:

In accordance with the provisions of the Companies Act, 2013, the terms of the appointment of Shri Jayesh C. Patel, Managing Director of the Company has been changed and he is liable to retire by rotation. As per his terms of appointment and applicable provisions of the Companies Act, 2013, Shri Jayesh C. Patel, Managing Director of the Company retires by rotation at the ensuing Annual General Meeting and is eligible for re-appointment.

Pursuant to Section 149 of the Companies Act, 2013, the Board of Directors, at its meeting held on August, 14, 2014, recom- mended the appointment of Shri Mahendrabhai V. Patel, Shri Mukesh N. Patel, Shri Alkesh B. Patel as Independent Directors of the Company, not liable to retire by rotation to hold office for 5 (five) consecutive years for a term up to September 30, 2019, subject to approval of the members of the Company. These Directors have given the declarations to the Board that they meet the criteria of independence as provided under Section 149(6) of the said Act and confirmed that they will abide by the provisions as mentioned in Schedule IV of the Companies Act, 2013.

Shri Jayesh C. Patel, Chairman & Managing Director of the Company was re-appointed as a Managing Director of the Company from October 1, 2009 for the period of five years. His term expires on September 30, 2014. The Board of Directors of the Company recommended re-appointing him as Managing Director of the Company with effect from October 1, 2014 for the period of three years subject to approval of the Shareholders of the Company.

The brief resume / details relating to Director who is to be appointed/re-appointed is furnished in the notes.

DIRECTORS' RESPONSIBILITY STATEMENT:

Pursuant to section 217(2AA) of the Companies Act, 1956 (hereinafter referred to as "the Act"), the Board of Directors of the Company hereby state and confirm that:

i. In the preparation of the Annual Accounts for the year ended on March 31, 2014, the applicable accounting standards have been followed by the Company along with proper explanation relating to material departure, if any;

ii. They have 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 the Company at March 31, 2014 and of the profits of the Company for the year ended March 31, 2014;

iii. They have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the Assets of the Company and for preventing and detecting fraud and other irregu- larities; and

iv. They have prepared the Annual Accounts on a going concern basis.

LISTING:

i. The Company's Shares are listed on the BSE Limited, Mumbai (BSE) and the National Stock Exchange of India Limited, Mumbai (NSE).

For the year 2013-14, the Company has paid annual listing fee to BSE and NSE.

INDUSTRIAL RELATIONS:

The Company's relations with its employees remained cordial throughout the year. The Directors wish to place on record their deep appreciation of the devoted services by workers, staff and executives of the Company.

PARTICULARS OF EMPLOYEES:

The particulars of employees falling under the purview of section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Amendment Rules, 2011 are NIL.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS & OUTGO:

The particulars as prescribed under 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 set out in an annexure to this report.

CORPORATE GOVERNANCE:

The Board of Directors of the Company have evolved and adopted a Code of Conduct based on the principles of Corporate Governance and best management practices being followed globally. The Code is available on the website of the Company at www.vimaloil.com.

Compliance Report, in accordance with the Clause 49 of the Listing Agreements with Stock Exchanges, on Corporate Governance forms part of the Annual Report. The Auditors' Certificate on the compliance of Corporate Governance Code embodied in Clause 49 of the Listing Agreement is attached hereto and forms part of this Report.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

Pursuant to clause 49 of the Listing Agreement, the Management Discussion and Analysis Report is annexed after the Directors' Report and forms a part of this Report.

COST AUDITOR

Pursuant to section 233B of the Companies Act, 1956, for the financial year 2013-14, the Central Government has approved the appointment of M/s. N. D. Birla & Co., Cost Accountants as Cost Auditor for conducting cost audit of "Edible oil seeds and Oils (including vanaspati)". As per the clarification issued by Cost Audit Branch of Ministry of Corporate Affairs vide General Circular No. 67/2011 dated November 30, 2011, generation of electricity for captive consumption has been exempted from the applica- bility of cost audit.

As per the requirement of the Central Government and pursuant to Section 233B of the Companies Act, 1956, the Company's cost records for the year ended March 31, 2014 are being audited / reviewed by Cost Auditors, M/s. N.D. Birla & Co. The due date for filing of cost audit report for the "Edible Oil & Prepared Foods" for the period ended March 31, 2014 is September 30, 2014.

The Board of Directors has appointed M/s. S A & Associates, Cost Accountants as a Cost Auditor for conducting the cost audit for the financial year 2014-2015, subject to approval of the members.

AUDITORS:

M/s R. R. S. & Associates, Statutory Auditors of the Company, retire at the ensuing annual general meeting and they have confirmed their eligibility pursuant to the provision of the Section 139 of The Companies Act, 2013 and willingness to be re- reappointed.

The Members of the Audit Committee and Board of Directors of the Company recommended to appoint M/s R. R. S. & Associ- ates, Chartered Accountants as Auditors of the Company from the conclusion of the 22nd Annual general Meeting to the conclu- sion of the 25th Annual general Meeting of the Company, subject to ratification of the appointment by the members at every AGM held after the ensuing AGM.

There are no qualifications or adverse remarks in the Auditors' Report which require any clarification/explanation. The Notes on financial statements are self explanatory, if any, and needs no further explanation.

ACKNOWLEDGEMENT:

Your Directors wish to place on record their sincere appreciation and gratitude for the valuable support and co-operation re- ceived from the Customers and Suppliers, various Financial Institutions, Banks, Government Authorities, Auditors and Share- holders during the year under review. Your Directors wish to place on record their deep sense of appreciation for the devoted services of the Executives, Staff and Workers of the Company for its success.

On behalf of Board of Directors For, VIMAL OIL & FOODS LIMITED

Place: Ahmedabad JAYESH C. PATEL

Date: August 14, 2014 Chairman & Managing Director




Mar 31, 2013

To, The Members,

The Directors have pleasure in presenting the Twenty First Annual Report with the Audited Accounts for the financial year ended March 31, 2013.

FINANCIAL RESULTS: (Rs. in lakhs)

PARTICULARS Current Year Previous Year 2012-13 2011-12

Sales Including Other Income 194825.60 124900.96

Profit Before Interest, Depreciation & Taxation 5478.32 2816.03

Interest & Financial charges 2995.33 1629.33

Depreciation 280.35 262.79

Profit Before Taxation 2202.64 923.91

Provision For Taxation including Deferred Tax 696.59 342.39

Profit After Tax 1506.05 581.52

Adding Thereto: Balance B/F From Previous Year 2051.84 1795.30

Amounts Available For Appropriation 3557.89 2376.82

Appropriations:

Dividend & Dividend Tax 287.12 274.98

General Reserve 75.00 50.00

Balance carried Forward 3195.78 2051.84



DIVIDEND:

The Directors recommend a final dividend of Rs.0.60 (6%) per share on 50,00,000 nos. 6% Non Cumulative Redeemable Preference Shares, Rs. 0.80 (8%) per share on 1,00,00,000 nos. 8% Non Cumulative Redeemable Preference Shares and Rs. 1.20 (12%) per share on the paid up equity share capital of the Company.

OPERATIONS:

The Company''s operations, continued to be satisfactory:

(Rs. in lakhs)

2012-13 2011-12

Sales Including Other Income 194825.60 124900.96

Profit after tax 1506.05 581.52

The sales including other income for the year ended March 31, 2013 was Rs. 194825.60 lakhs as against Rs. 124900.96 lakhs for the previous financial year. The total sales of the Company has increased by 56% (approx) as compared to the previous year.

The total export sales for the year ended March 31, 2013 was Rs. 2764.85 lakhs as against Rs. 3852.46 lakhs for the previous financial year. The Profit before tax was Rs. 2202.64 lakhs and the profit after tax was Rs. 1506.05 lakhs for the year ended on March 31, 2013 as against Rs. 923.91 lakhs and Rs. 581.52 lakhs respectively for the previous financial year.

FIXED DEPOSITS:

The Company has not accepted any Fixed Deposits from the public and it is therefore not required to comply with the requirement under Non-Banking Non-Financial companies (Reserve Bank) Directions, 1966 and Companies (Acceptance of Deposits) Rules, 1975.

SUBSIDIARY:

The Company has purchased/acquired 31,20,000 Equity Shares of Rs. 10/- each at a premium of Rs.30/- per Shares of Vimal Dairy Limited (VDL), through the preferential allotment, on February 26, 2013 and thereby VDL has become 52.00% subsidiary of the Company. At the year ended on March 31, 2013, the Company has one subsidiary company in India.

Pursuant to the general exemption granted by the Ministry of Corporate Affairs, Government of India vide General Circular No. 2/ 2011 dated 8th February, 2011 and resolution passed by the Board of Directors on August 13, 2013, copy of Balance Sheet, Statement of Profit and Loss, Report of the Board of Directors and the Report of the Auditors of subsidiary company have not been attached with the annual accounts of the Company under section 212 of the Companies Act, 1956. As required under the above said circular, a statement containing the information of subsidiary Company is attached and forms part of this Annual Report.

The annual accounts of the subsidiary company and the related information are available for inspection by any shareholder at the registered office of the Company during business hours and make them available upon the request by any shareholder of the Company.

CONSOLIDATED FINANCIAL STATEMENTS

Pursuant to clause 32 and 41 of the Listing Agreement and Accounting Standard 21 issued by the Institute of Chartered Accountants of India, the Board of Directors has pleasure in attaching the Audited Consolidated financial statements including the financial statements of subsidiary company. This being the first year of M/s. Vimal Dairy Ltd. becoming a subsidiary Company, only current year figures are given in the consolidated financial statements and the consolidated cashflow statement is not attached.

DIRECTORS:

In accordance with the provisions of the Companies Act, 1956 and the Company''s Articles of Association, Shri Mukesh N. Patel, Director of the Company, retires by rotation at the ensuing Annual General Meeting and is eligible for re-appointment.

The brief resume / details relating to Director who is to be appointed/re-appointed are furnished in the notes.

DIRECTORS'' RESPONSIBILITY STATEMENT:

Pursuant to section 217(2AA) of the Companies Act, 1956 (hereinafter referred to as "the Act"), the Board of Directors of the Company hereby state and confirm that:

i. In the preparation of the Annual Accounts for the year ended on March 31, 2013, the applicable accounting standards have been followed by the Company along with proper explanation relating to material departure, if any;

ii. They have 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 the Company at March 31, 2013 and of the profits of the Company for the year ended March 31, 2013;

iii. They have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the Assets of the Company and for preventing and detecting fraud and other irregularities;

iv. They have prepared the Annual Accounts on a going concern basis.

LISTING:

i. The Company''s Shares are listed on the BSE Limited, Mumbai (BSE). Also, the Equity Shares of the Company have listed on the National Stock Exchange of India Limited, Mumbai (NSE) and admitted to dealing on NSE with effect from May 21, 2013.

For the year 2013-14, the Company has paid annual listing fee to BSE and NSE.

INDUSTRIAL RELATIONS:

The Company''s relations with its employees remained cordial throughout the year. The Directors wish to place on record their deep appreciation of the devoted services by workers, staff and executives of the Company.

PARTICULARS OF EMPLOYEES:

The particulars of employees falling under the purview of section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Amendment Rules, 2011 are NIL.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS & OUTGO:

The particulars as prescribed under Section 217(1)(e) of the Act, read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988, are set out in an annexure to this report.

CORPORATE GOVERNANCE:

The Board of Directors of the Company have evolved and adopted a Code of Conduct based on the principles of Corporate Governance and best management practices being followed globally. The Code is available on the website of the Company at www.vimaloil.com.

Compliance Report, in accordance with the Clause 49 of the Listing Agreements with Stock Exchanges, on Corporate Governance forms part of the Annual Report. The Auditors'' Certificate on the compliance of Corporate Governance Code embodied in Clause 49 of the Listing Agreement is attached hereto and forms part of this Report.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

Pursuant to clause 49 of the Listing Agreement, the Management Discussion and Analysis Report is annexed after the Directors'' Report and forms a part of this Report.

COST AUDITOR

Pursuant to section 233B of the Companies Act, 1956, for the financial year 2012-13, the Central Government has approved the appointment of M/s. N. D. Birla & Co., Cost Accountants as cost auditor for conducting cost audit of "Edible oil seeds and Oils (including vanaspati)". As per the clarification issued by Cost Audit Branch of Ministry of Corporate Affairs vide General Circular No. 67/2011 dated November 30, 2011, generation of electricity for captive consumption has been exempted from the applicability of cost audit.

As per the requirement of the Central Government and pursuant to Section 233B of the Companies Act, 1956 and the Rules thereunder, the Company''s Cost Records for the year ended March 31, 2013 are being audited / reviewed by Cost Auditors, M/s. N.D. Birla & Co. The due date for filing of cost audit report for the "Edible oil seeds and Oils (including vanaspati)" for the period ended March 31, 2013 is September 30, 2013.

The Board of Directors has appointed / reappointed M/s N. D. Birla & Co., Cost Accountants as cost auditor for conducting the cost audit for the financial year 2013-2014.

AUDITORS:

M/s. R R S & Associates, Chartered Accountants, Statutory Auditors of the Company, retire at the ensuing Annual General Meeting and are eligible for re-appointment.

There are no qualifications or adverse remarks in the Auditors'' Report which require any clarification/explanation. The Notes on financial statements are self explanatory, if any, and needs no further explanation.

ACKNOWLEDGEMENT:

Your Directors wish to place on record their sincere appreciation and gratitude for the valuable support and co-operation received from the Customers and Suppliers, various Financial Institutions, Banks, Government Authorities, Auditors and Shareholders during the year under review. Your Directors wish to place on record their deep sense of appreciation for the devoted services of the Executives, Staff and Workers of the Company for its success.



On behalf of Board of Directors For, VIMAL OIL & FOODS LIMITED

Place: Ahmedabad JAYESH C. PATEL

Date: August 13, 2013 Chairman & Managing Director


Mar 31, 2012

The Directors have pleasure in presenting the 20th Annual Report with the Audited Accounts for the financial year ended 31st March, 2012.

FINANCIAL RESULTS: (Rs. in lakhs)

PARTICULARS Current Year Previous Year 2011-12 2010-11

Sales Including Other Income 124820.08 113981.56

Profit Before Interest, Depreciation & Taxation 2816.03 2892.43

Interest & Financial charges 1629.33 1138.89

Depreciation 262.79 246.86

Profit Before Taxation 923.91 1506.68

Provision For Taxation including Deferred Tax 342.39 472.05

Profit After Tax 581.52 1034.63

Adding Thereto: Balance B/F From Previous Year 1795.30 1123.47

Amounts Available For Appropriation 2376.82 2158.10

Appropriations:

Dividend & Dividend Tax 274.98 312.80

General Reserve 50.00 50.00

Balance carried Forward 2051.84 1795.30

DIVIDEND:

The Directors recommend a final dividend of Rs. 0.60 (6%) per Share on 6% 50,00,000 Preference Shares, Rs. 0.80 (8%) per Share on 8% 1,00,00,000 Preference Shares and Rs. 1.20 (12%) per Share on the paid up Equity Share Capital of the Company.

OPERATIONS:

The Company's operations, continued to be satisfactory:

(Rs. in lakhs)

2011-12 2010-11

Sales Including Other Income 124820.08 113981.56

Profit after tax 581.52 1034.63

The sales including other income for the financial year under review were Rs. 124820.08 lakhs as against Rs. 113981.56 lakhs which were recorded for the previous financial year.

The total export sales for the financial year under review were Rs. 4380.37 lakhs as against Rs. 4244.03 lakhs for the previous financial year. The profit before tax was Rs. 923.91 lakhs and the profit after tax was Rs. 581.52 lakhs for the financial year under review as against Rs. 1506.68 lakhs and Rs. 1034.63 lakhs respectively for the previous financial year.

CAPITAL RAISING/ FURTHER ALLOTMENT OF SECURITIES AND UTILIZATION OF PROCEEDS RECEIVED FROM PREFERENTIAL ALLOTMENT:

Further Issues of Equity:

I) In order to meet the fund requirements of the Company for its increasing long term working capital requirements, for redemption of the Non-Cumulative Redeemable Preference Shares, for investment in other Bodies Corporate and/or Group Companies and for General Corporate purposes, the Company had come out with allotment of Equity Shares on preferen- tial basis to the non-promoters in the Month of June- 2012 at an issue price calculated under the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009, on preferential basis duly approved by the Shareholders and decided by the Board of Directors of the Company.

II) On 4th July, 2012, the Company allotted on preferential basis [in accordance with the Regulations for Preferential Issue containing in the Chapter VII of the SEBI (Issue of Capital and Disclosure Requirements) Regulation, 2009], 8,70,000 Equity Shares of Rs. 10/- to the non promoters at premium of Rs. 55/-, aggregating to Rs. 5,65,50,000/-.

III) The entire proceeds are utilized towards the long working capital Requirements.

DIRECTORS:

In accordance with the provisions of the Companies Act, 1956 and the Company's Articles of Association, Shri Mahendrabhai V. Patel, Director of the Company, retires by rotation at the ensuing Annual General Meeting and is eligible for re-appointment.

The brief resume / details relating to Director who is to be appointed/re-appointed are furnished in the notes.

During the year, Shri Harnarayan J. Patel retired from the Board of Director of the Company w.e.f. 30th September, 2011. Your Directors wish to record their gratitude and appreciation for the contribution by Shri Harnarayan J. Patel during his tenure as Directors of the Company.

Shri Alkesh B Patel has been inducted as an Additional Director with effect from 13th December, 2012 and hold office up to ensuing Annual General Meeting of the Company. The Company has received notice from Members under section 257 of the Companies Act, 1956, signifying their intention to propose the candidature of above mentioned person for the office of Directors.

DIRECTORS' RESPONSIBILITY STATEMENT:

Pursuant to section 217(2AA) of the Companies Act, 1956 (hereinafter referred to as "the Act"), The Board of Directors of the Company hereby state and confirm that:

i. In the preparation of the Annual Accounts, for the year ended 31st March, 2012 the applicable accounting standards have been followed by the Company along with proper explanation relating to material departure, if any:

ii. They have 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 the Company at 31st March, 2012 and of the profits of the Company for the year ended 31st March, 2012;

iii. They have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provi- sions of the Act for safeguarding the Assets of the Company and for preventing and detecting fraud and other irregularities;

iv. They have prepared the Annual Accounts on a going concern basis.

LISTING:

The Company's Shares are listed on the Bombay Stock Exchange Limited, Mumbai.

The Company has paid the Annual Listing Fees to the above Stock Exchange for the financial year 2012-2013.

INDUSTRIAL RELATIONS:

The Company's relations with its employees remained cordial throughout the year. The Directors wish to place on record their deep appreciation of the devoted services by workers, staff and executives of the Company.

PARTICULARS OF EMPLOYEES:

The particulars of employees falling under the purview of Section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Amendment Rules, 2011 are NIL.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS & OUTGO:

The additional information required under the provisions of section 217(1)(e) of the Companies Act, 1956, read with the Compa- nies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988, and forming part of the Report, is annexed hereto. CORPORATE GOVERNANCE:

The Board of Directors of the Company had evolved and adopted a Code of Conduct based on the principles of Corporate Governance and best management practices being followed globally. The Code is available on the website of the Company at www.vimaloil.com.

Compliance Report, in accordance with the Clause 49 of the Listing Agreements with Stock Exchanges, on Corporate Governance forms part of the Annual Report. The Auditors' Certificate on the compliance of Corporate Governance Code embodied in Clause 49 of the Listing Agreement is attached hereto and forms part of this Report.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

Pursuant to clause 49 of the Listing Agreement, the Management Discussion and Analysis Report is annexed after the Directors' Report and forms a part of this Report.

AUDITORS:

M/s. R R S & Associates, Chartered Accountants, Statutory Auditors of the Company, retire at the ensuing Annual General Meet- ing and are eligible for re-appointment.

There are no qualifications or adverse remarks in the Auditors' Report which require any clarification/explanation. The Notes on financial statements are self explanatory, if any, and needs no further explanation.

ACKNOWLEDGEMENT:

Your Directors wish to place on record their sincere appreciation and gratitude for the valuable support and co-operation re- ceived from the Customers and Suppliers, various Financial Institutions, Banks, Government Authorities, Auditors and Share- holders during the year under review. Your Directors wish to place on record their deep sense of appreciation for the devoted services of the Executives, Staff and Workers of the Company for its success.

On behalf of the Board of Directors

For, VIMAL OIL & FOODS LIMITED

Place : Ahmedabad

Date : 28th August, 2012 JAYESH C. PATEL

Chairman & Managing Director


Mar 31, 2010

The Directors have pleasure in presenting the 18th Annual Report on the business and operations of the Company together with the Audited Accounts for the year ended 31st March, 2010.

FINANCIAL RESULTS :

(Rs. in lacs)

Current Year Previous Year 2009 - 2010 2008 - 2009

Sales Including Other Income 73443.60 62387.00

Profit Before Interest, Depreciation & Taxation 2222.82 1391.93

Interest & Financial charges 1283.72 800.63

Depreciation 213.07 164.74

Profit Before Taxation 726.04 426.56

Provision For Taxation including Deferred Tax 193.95 143.73

Prof it After Tax 532.08 282.83

Adding Thereto: Balance B/F From Previous Year 849.94 770.96

Amounts Available For Appropriation 1382.02 1053.79

Appropriations:

Dividend & Dividend Tax 208.54 153.85

General Reserve 50.00 50.00

Balance carried Forward 1123.47 849.94

DIVIDEND :

The directors recommend a final dividend of Rs. 0.60 per share (6%) on 50,00,000 Preference shares, Rs. 0.80 per share (8%) on 1,00,00,000 Preference Shares and Rs. 1.50 per share (15%) on the paid up Equity share capital of the company.

OPERATIONS :

The Companys operations, continued to be satisfactory:

(Rs. in lacs)

2009 - 2010 2008 - 2009

Sales and related income 73441.13 62316.49

Profit after tax 532.08 282.83

The Sales & other income for the financial year under review were Rs. 73441.13 Lacs as against Rs. 62316.49 Lacs of the same for the previous financial year. The total export sales for the financial year under review is Rs. 2965.76 lacs as against Rs.2880.87 Lacs for the previous financial year. The Profit before tax was Rs. 726.04 Lacs and the profit after tax was Rs. 532.08 Lacs for the financial year under review as against Rs.426.56 Lacs and Rs 282.83 Lacs respectively for the previous financial year.

DIRECTORS :

In accordance with the provisions of the Companies Act, 1956 and the Companys Articles of Association, Shri Mukesh N. Patel, Director of the Company, retires by rotation at the ensuing Annual General Meeting and is eligible for re-appointment. Your directors recommend his re-appointment.

The brief resume / details relating to directors who are to be appointed/re-appointed are furnished in the notes.

DIRECTORS RESPONSIBILITY STATEMENT :

Pursuant to Section 217(2AA) of the Companies Act, 1956 (hereinafter referred to as "the Act"), your Directors confirm that:

i. In the preparation of the Annual Accounts, the applicable accounting standards have been followed;

ii. They have 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 the Company at 31s March, 2010 and of the profits of the Company for the year ended 31 March, 2010;

iii. They have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the Assets of the Company and for preventing and detecting fraud and other irregularities;

iv. They have prepared the Annual Accounts on a going concern basis.

LISTING :

The Companys Shares are listed on Bombay Stock Exchange.

The Company has paid the annual listing fees to the above Stock Exchange for the finanial year 2010-2011.

INDUSTRIAL RELATIONS:

The Companys relations with its employees remained cordial throughout the year. The Directors wish to place on record their deep appreciation of the devoted services by workers, staff and executives of the Company.

PARTICULARS OF EMPLOYEES:

The particulars of employees falling under the purview of Section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 are NIL.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARININGS & OUTGO:

The additional information required under the provisions 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, and forming part of the Report, is annexed hereto.

CORPORATE GOVERNANCE:

The Board of Directors of the Company had evolved and adopted a Code of Conduct based on the principles of Corporate Governance and best management practices being followed globally. The Code is available on the website of the Company www.vimaloil.com.

Compliance Report, in accordance with the Clause 49 of the Listing Agreements with Stock Exchanges, on Corporate Governance forms part of the Annual Report. The Auditors certificate on the compliance of Corporate Governance Code embodied in Clause 49 of the Listing Agreement is attached hereto and forms part of this Report.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

Pursuant to clause 49 of the Listing Agreement, the Management Discussion and Analysis Report is annexed after the Directors Report and forms a part of this Report.

AUDITORS:

M/s RRS & Associates, Chartered Accountants, Statutory Auditors of the Company, retire at the ensuing annual general meeting and are eligible for re-appointment.

ACKNOWLEDGEMENT:

Your Directors wish to place on record their sincere appreciation and gratitude for the valuable support and co-operation received from the Customers and Suppliers, various Financial Institutions, Banks, Government Authorities, Auditors and Shareholders during the year under review. Your Directors wish to place on record their deep sense of appreciation for the devoted services of the Executives, Staff and Workers of the Company for its success.



On behalf of the Board of Directors

FOR, VIMAL OIL & FOODS LIMITED

Place : Ahmedabad JAYESH C. PATEL

Date:26th, August, 2010 Chairman & Managing Director

 
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