డైరెక్టర్ల నివేదిక Hinafil India Ltd.

Mar 31, 2012

Dear Members

The directors have pleasure in presenting their Annual Report to gather with Audited Balance Sheet and Profit and Loss Account for the year ended on 31st March 2012.

1. FNANCIAL RESULTS :

Rs. in '000

Particulars Year ended Year ended 31.03.2012 31.03.2011

Revenue from Operations 14,868.65 14,913.77

Total Expenditure 15,047.94 27,296.42

Profit Before Taxation -179.29 -12382.65

Provision for Tax

Fringe benefit Tax 0.00 4,010.93

Short/excess Provision for earlier Years 0.00 0.00

Net Profit after Taxation -16393.58 -16393.58

2. DIVIDEND :

Since the company has incurred losses during financial year under review, your directors express their inability to recommend any dividend during the year.

3. OPERATIONS :

During the year under review the company's turnover has increased form Rs.8553374/- to Rs. 14868515/-

4. PARTICULARS OF EMPLOYEES :

Employees whose particulars are required to be disclosed under section 217(2A) of The Companies Act 1956.

There were no employees in the company drawing salary more than Rs.2,00,000/- p.m. during the financial year ended 31st March 2010.

5. DIRECTORS :

Ms Kaneez Fatima Shaikh retires by rotation and being eligible offered herself for reappointment.

6. AUDITORS :

M/s Ramesh Gautam and Company, Chartered Accountants and Statutory Auditors of company retire at this Annual General Meeting and are eligible for reappointment. The directors recommend reappointing M/s Ramesh Gautam & Co. Chartered Accountant as auditors and to fix their remuneration. A certificate has been received form Auditors to the effect that their appointment if made would be within the prescribed limits u/s 224(1B) of The Companies Act 1956.

7. DIRECTORS SUBMISSIONS ON AUDITORS QUALIFICATION :

Auditors observations mentioned in the Auditors rep[ort are self explanatory. Company is taking necessary steps to resolve these observations at the earliest.

8. CONVERSION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO [Section 217(1)(e)l :

A. Conservation of Energy

Adequate measures have been taken to avoid wastage of energy. The necessary measures have been planned to cut down the consumption of energy per Kg. of processing of material. The requirement for disclosure with respect to conservation of energy is not applicable to the company.

B. Technology Absorption :

The company does not have any Separate research and Development Department.

C. Foreign Exchange Earning and Outgo :

Foreign Exchange Earned : Nil

Foreign Exchange Used : Nil

9. FIXED DEPOSIT :

The company has not accepted Fixed deposit within the meaning of section 58-A of The Companies Act 1956.

10. LISTING ON STOCK EXCHANGES :

The equity Shares are listed on following stock Exchanges in India

1. Vadodra Stock Exchange Limited Fortune Towers Sayaji Gunj Vadodra 390005

2. The Ahmedabad Stock Exchange Ltd, Kamdhanu Cpmplex, Panjrapole Ahmedabad 15

3. Bomaby Stock Exchange Limited, P J Towers, Dalal Street, Mumbai 400021

11. DIRECTORS RESPONSIBILITY STATEMENT U/S 217(2AA) OF THE COMPANIES ACT 1956 :

The Directors confirm that in preparation of Annual Accounts for the year ended 31st March 2012 :-

1. the applicable accounting standards had been followed along with proper explanation relating to material departures if any

2. The Directors had 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 the end of financial year and of the loss of the company for the year ended 31st March 2012.

3. The directors has 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, and

4. The directors had prepared the accounts on going concern basis.

12. ACKNOWLEDGEMENT :

Your directors would like to express their sincere appreciation for the assistance and co operation received from our bankers, auditors and consultants during the period under review. The Directors sincerely appreciate the high degree of professionalism, commitment and dedication displayed by employees for their continued support and confidence.

For & On Behalf of the Board

Place : Mumbai Sd/- Sd/-

Badrul Haq Shaikh Kaneez Shaikh

Date : 24.08.2012 Director Director

---

Mar 31, 2011

The directors have pleasure in presenting their Annual Report together with Audited Balance Sheet and Profit and Loss Account for the year ended on 31st March, 2011.

1. FINANCIAL RESULTS :

(Rs. In '000)

Year ended Year ended

31.03.2011 31.03.2010

Sales/Income 14,913.77 9,782.76

Total Expenditure 27,296.42 13,816.45

Profit Before Taxation -12,382.65 -4,033.68

Provision for Tax - -

Deferred Taxation Reversed - 4,010.93 0.00

Short/Excess Provision for earlier years 0.00 3.13

Net Profit after Taxation -16,393.58 -4,036.81 2. DIVIDEND :

Since the company has incurred losses during financial year under review, your directors express their inability to recommend any dividend during the year.

3. OPERATIONS :

During the year under review the company's turnover has increased from Rs. 93,06,272/- to Rs. 1,49,13,768/-.

4. PARTICULARS OF EMPLOYEES :

Employees whose particulars are required to be disclosed under section 217(2A) of The Companies Act,1956.

There were no employees in the company drawing salary more than Rs. 2,00,000/- p.m. during the financial year ended 31st March, 2011.

5. DIRECTORS :

Mr. Mohammed Rafique Mohd. Shaikh retire by rotation and being eligible offered himself for reappointment.

6. AUDITORS :

M/s. Ramesh Gautam and Company, Chartered Accountants and Statutory Auditors of company retire at this Annual General Meeting and are eligible for reappointment. The directors recommend reappointing M/s. Ramesh Gautam & Co., Chartered Accountants as auditors and to fix their remuneration. A certificate has been received from Auditors to the effect that their appointment if made would be within the" prescribed limits u/s 224(1 B) of The Companies Act, 1956.

7. DIRECTORS SUBMISSIONS ON AUDITORS QUALIFICATION :

Auditors observations mentioned in the Auditors report are self explanatory. Company is taking necessary steps to resolve these observations at the earliest.

8. CONVERSION OF ENERGY. TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO section 217:

A. Conservation of Energy

Adequate measures have been taken to avoid wastage of energy. The necessary measures have been planned to cut down the consumption of energy per Kg. of processing of material. The requirement for disclosure with respect to conservation of energy is net applicable to the company.

B. Techology Absorption :

The company does not have any Separate research and Development Department.

C. Foreign Exchange Earning and Outgo :

Foreign Exchange Earned Nil

Foreign Exchange Used Nil

- FIXIEP DEPOSIT :

The Company has not accepted Fixed deposit within the meaning of section 58-A of The Companies Act, 1956.

10. LISTING ON STOCK EXCHANGES :

The equity Shares are listed on following Stock Exchanges in India.

1. Vadodara Stock Exchange Limited. Fortune Towers, Sayaji Gunj, Vadodara - 390 005.

2. The Abmedabad Stock Exchange Ltd., Kamdhanu Complex; Panjrapole, Ahmedabad-380 015.

3. Bombay Stock Exchange Limited, P. J. Towers, Dalai Street, Mumbai-400 021.

11. DIRECTORS RESPONSIBILITY STATEMENT U/S 217(2AA) OF THE COMPANIES ACT. 196C :

The Directors confirm that In preparation of Annual Accounts for the year ended 31st March, 2011.

1. The applicable accounting standards had been followed along with proper explanation relating to material departures if any.

2. The Directors had 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 the end of financial year and of the loss of the company for the year ended 31st March, 2011.

3. The directors has 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, and

4. The directors had prepared the accounts on going concern basis.

12. ACKNOWLEDGEMENT :

Your directors would like to express their sincere appreciation for the assistance and co operation received from our bankers, auditors and consultants during the period under review. The Directors sincerely appreciate the high degree of professionalism, commitment and dedication displayed by employees for their continued support and confidence.

FOR & ON BEHALF OF THE BOARD

Sd/- Sd/-

Badrul Haq Shaikh Kaneez Shaikh

Director Director

Place : Mumbai

Date : 23.08.2011

---

Mar 31, 2010

The Directors have pleasure in presenting their Annual Report together with the Audited Balance Sheet and Profit and Loss Account for the year ended on 31st March, 2010.

1. FINANCIAL RESULTS :

(Rs, in 000)

Year ended Year ended

31.03.2010 31.03.2009

Sales/Income 9,782.76 11,193.06

Total Expenditure 13,816.45 13,090.43

Profit before Taxation (4,033.68) (1,897.06)

Provision for Taxation :

Fringe Benefit Tax - 18.19

Short/Excess Provision of earlier years 3,129 -

Net Profit After Taxation (4,036.81) (1,915.26)

2. DIVIDEND :

Since the Company has incurred loss during the Financial Year under review, your directors express their inability to recommend any dividend for the year.

3. OPERATIONS :

During the year under review the Companys turnover has decreased from Rs. 11,193,371/- to Rs. 9,306,272/-.

4. PARTICULARS OF EMPLOYEES :

Employees whose particulars are required to be disclosed under Section 217 (2A) of the Companies Act, 1956:

There were no employees in the company drawing salary more than Rs. 2,00,000/- p.m. during the financial year ended on 31st March, 2010.

5. DIRECTORS :

Shri Gopal Sheena Shetty retires by rotation and being eligible, offered himself for reappointment.

6. AUDITORS :

M/s. Ramesh Gautam & Co., Chartered Accountants and Statutory Auditors of the Company retire at this Annual General Meeting and are eligible for the reappointment. The Directors recommend reappointing M/s. Ramesh Gautam & Co., Chartered Accountants as auditors and to fix their remuneration. A certificate has been received from the Auditors to the effect that their reappointment, if made, would be within the prescribed limits u/s 224 (1B) of the Companies Act, 1956.

7. DIRECTORS SUBMISSION OF AUDITORS QUALIFICATION :

In regard to Auditors observations mentioned in the Auditors report are self explanatory, Company-is taking necessary steps to resolve these observations at the earliest.

8. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO: [Section 217 (1)(e)] :

A. Conservation of Energy:

Adequate measures have been taken to avoid wastage of energy, the necessary measures have been planned to cut down the consumption of energy per kg. of processing of the material. The requirement for disclosure with respect to conservation of energy is not applicable to the Company

B. Technology Absorption :

The Company does not have any separate Research and Development Department.

C. Foreign Exchange Earnings and Outgo :

Total Foreign Exchange earned and used:

Foreign Exchange earned : NIL

Foreign Exchange used : NIL

9. FIXED DEPOSITS :

The Company has not accepted Fixed Deposits within the meaning of Section 58-A of the Companies Act, 1956.

10. USTING ON THE STOCK EXCHANGES :

The Equity Shares of the Company are Listed on the following Stock Exchanges of India.

(1) Vadodara Stock Exchange Ltd. (2) The Ahmedabad Stock Exchange Ltd.,

Fortune Tower, Sayajigunj, Kamdhenu Complex, Sahajanand,

Vadodara - 390 005. College, Panjarapoie,

Ahmedabad - 390 015.

(3) Bombay Stock Exchange Ltd.

Sir P. J. Tower, Dalai Street

Mumbai - 400 001.

The Company has paid the Annual Listing Fees to all the above three stock exchanges for the Financial year 2010-11.

11. DIRECTORS RESPONSIBILITY STATEMENT U/S 217 (2AA) OF THE COMPANIES ACT. 19S6 :

The Directors confirm that in the preparation of the annual accounts for the year ended 31st March 20010 :-

i) The applicable accounting standards have been followed along with proper explanations relating to material departures, if any.

ii) That the directors had 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 the end of the financial year and of the profit or loss of the Company for the period ended 31st March, 2010.

iii) That the directors had. taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

iv) That the directors had prepared the annual accounts on a going concern basis.

12. ACKOWLEDGMENT :

Your Directors would like to express their sincere appreciation for the assistance and co-operation received from our bankers, employees, auditors and consultants during the period under review. The Directors sincerely appreciate the high degree of professionalism, commitment and dedication displayed by employees at all levels. The Directors also place on record their gratitude to the Members for their continued support and confidence.



FOR AND ON BEHALF OF THE BOARD

Sd/- Sd/-

(Badrul Haq Shaikh) (Kaneez Shaikh)

Director Director

Place : Vapi

Date : 25.08.2010

---

Mar 31, 2009

The Directors have pleasure in presenting their Annual Report together with the Audited Balance Sheet and Profit and Loss Account for the year ended on 31st March, 2009.

1. FINANCIAL RESULTS:

(Rs. in 000)

Year ended Year ended 31.03.2009 31.03.2008

Sales/Income 11,193 9,033

Total Expenditure 13,090 14,486

Profit before Taxation (1,897) (5,453)

Provision for Taxation :

Fringe Benefit Tax 18 20

Short/Excess Provision of earlier years -- 3

Net Profit After Taxation (1,915) (5,476)

2. DIVIDEND :

Since the Company has incurred loss during the Financial Year under review, your directors express their inability to recommend any dividend for the year.

3. OPERATIONS:

During the year under review the Companys turnover has increased from Rs. 9,033,774/- to Rs. 11,193,371/-.

4. PARTICULARS OF EMPLOYEES:

Employees whose particulars are required to be disclosed under Section 217 (2A) of the Companies Act, 1956:

There were no employees in the company drawing salary more than Rs.2,00,000/-p.m. during the financial year ended on 31* March, 2009.

5. DIRECTORS:

Mr. Suchet Saran Mathur retires by rotation and being eligible, offered himself for reappointment.

The Board, subject to the approval of members has appointed Mr. Badrul Haq Shaikh as Managing Director for fresh term of five years with effect from 24m December, 2008. Necessary resolution for Mr. Badrul HaqShaikhs appointment has been included in the notice for the forthcoming Annual General Meeting of the Company.

6. AUDITORS :

M/s. Ramesh Gautam & Co., Chartered Accountants and Statutory Auditors of the Company retire at this Annual General Meeting and are eligible for the reappointment. The Directors recommend reappointing M/s. Ramesh Gautam & Co., Chartered Accountants as auditors and to fix their remuneration. A certificate has been received from the Auditors to the effect that their reappointment, if made, would be within the prescribed limits u/s 224 (1B) of the Companies Act, 1956.

7. CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO: fSection 217 (1Ke)1 :

A. Conservation of Energy:

Adequate measures have been taken to avoid wastage of energy, the necessary measures have been planned to cut down the consumption of energy per kg. of processing of the material. The requirement for disclosure with respect to conservation of energy is not applicable to the Company.

B. Technology Absorption:

The Company does not have any separate Research and Development Department.

C. Foreign Exchange Earnings and Outgo: Total Foreign Exchange earned and used: Foreign Exchange earned NIL Foreign Exchange used 9.82 Lacs

8. FIXED DEPOSITS:

The Company has not accepted Fixed Deposits within the meaning of Section 58-A of the Companies Act, 1956.

9. LISTING ON THE STOCK EXCHANGES:

The Equity Shares of the Company are Listed on the following Stock Exchanges of India.

(1) Vadodara Stock Exchange Ltd. (2) The Ahmedabad Stock Exchange Ltd. Fortune Tower, Sayajigunj, Kamdhenu Complex, Sahajanand, Vadodara - 390 005. College, Panjarapole, Ahmedabad - 390 015.

(3) Bombay Stock Exchange Ltd.

Sir P. J. Tower, Dalai Street Mumbai - 400 001.

The Company has paid the Annual Listing Fees to all the above three stock exchanges for the Financial year 2009-10.

10. DIRECTORS RESPONSIBILITY STATEMENT U/S 217 (2AA1 OF THE COMPANIES ACT. 19S6

The Directors confirm that in the preparation of the annual accounts for the year ended 31" March 2009-

i) The applicable accounting standards have been followed along with proper explanations relating to material departures, if any.

ii) That the directors had 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 the end of the financial year and of the profit or loss of the Company for the period ended 31" March, 2009.

iii) That the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

iv) That the directors had prepared the annual accounts on a going concern basis.

11. AUDITORS QUALIFICATION :

In regard to Auditors observations mentioned in the Auditors report are self explanatory. Company is taking necessary steps to resolve these observations at the earliest.

12. ACKOWLEDGMENT :

Your Directors would like to express their sincere appreciation for the assistance and co-operation received from our bankers, employees, auditors and consultants during the period under review. The Directors sincerely appreciate the high degree of professionalism, commitment and dedication displayed by employees at all levels. The Directors also place on record their gratitude to the Members for their continued support and confidence.

FOR AND ON BEHALF OF THE BOARD

Sd/- Sd/- Place: Vapi (Kaneex Shaikh)

Date : 22.08.2009 Director Director