Camex Ltd

Dear Members,

We have pleasure in presenting the 21st Annual General Meeting of the Company alongwith the audited statements of Accounts for the year ended 31^st March, 2010.

Financial Performance

Operations

During the year the sales of the company amounted to Rs.11347.60 Lacs has increased ascompared to last years' sales of Rs. 8765.01 Lacs i.e. sales has increased by 29.46 % andprofit of the current year has also increased to Rs. 75.49 Lacs compared to profit of Rs.72.11 Lacs for the previous financial year. Your directors are hopeful of getting betterresults in the current financial year.

Dividend

Board considers it appropriate to reserve the funds for internal funding and thereforeare not proposing dividend for the current year.

Deposits

The company has not accepted Deposits from the public within the meaning of Section 58A of the Companies Act, 1956 and the Companies (Acceptance of Deposits) Rules, 1975 in thecurrent year.

Insurance

Adequate insurance cover has been taken for both the movable and the immovableproperties of the company including Buildings, Plant & Machineries, and Stocks etc.

Directors

At the ensuing Annual General Meeting Mr. Chandraprakash Chopra and Mr. MahavirchandChopra, who retires by rotation and being eligible for reappointment, offers themselvesfor reappointment.

During the year Mr. Sandeep Mundra has resigned from the directorship of the Companyand Mr. Gaurav Chowdhary is appointed as an additional director of the company.

There being no other changes in Directorship of the company during the year underreview.

Directors Responsibility Statement

Pursuant to the requirement under section 217 (2AA) of the Companies Act, 1956, whichrequires company to give a Directors Responsibility Statement, your directors herebyconfirm -

That in preparation of annual accounts, the applicable accounting standards had beenfollowed along with proper explanatory notes/statements relating to material departure.

That Company has selected Mercantile system of accounting policies and applied itconsistently since beginning and made judgments and estimates that are reasonable andprudent so as to give a true and fair view of the state of affairs of the company at theend of the financial year and of the profit or loss of the company for that period.

That the directors had taken proper and sufficient care for the maintenance of adequateaccounting books and records in accordance with the provisions of this Act for thesafeguarding the assets of the company and for preventing and detecting fraud and otherirregulations.

That the annual accounts had been prepared on a going concern basis for the year endingon 31^st March, 2010.

Auditors

The Auditors M/s. Surana Maloo & Co., Chartered Accountants retire at the ensuingAnnual General Meeting and offer themselves for reappointment. The Auditors have confirmedthat if appointed their appointment would be within the limit stated in Section 224 of theCompanies Act, 1956

Comment on Auditors' Report

There is no adverse comment in the Auditors' Report which requires any furtherexplanation under Section 217 (3) of the Companies Act, 1956.

Particulars of Employees and Others

The Company does not have any employee receiving remuneration of Rs. 2,00,000/- &more per month i.e. Rs. 24,00,000/- per annum and there fore, no particulars are requiredto be furnished under Section 217 (2A) of the Companies Act, 1956.

Information on Energy Conservation, Technology Absorption and Foreign Exchange Earnings

Particulars regarding conservation of energy, Technology up gradation, and ForeignExchange Earnings and Outgo, pursuant to Companies (Disclosure of Particulars in theReport of the Board of Directors) Rules 1988 are given in the enclosure and form part ofthe Director's Report.

Appreciation

The company places on record its deep appreciation for all those who are associatedwith the company and have continued their support towards the growth and stability of thecompany.

A. CONSERVATION OF ENERGY

(a) Energy Conservation Measures taken

Company is giving high priority to energy conservation and has continued with itspolicy of energy audit and periodic overhauling of the plant and machinery.

(b) Additional Investments and proposals if any being implemented for reduction ofconsumption of energy.

Investments in energy saving equipments is under implementation.

(c) Impact of measures at (a) and (b) for reduction of energy consumption andconsequent impact on the cost of production of goods

Reduction in energy consumption leads to reduction in the cost of production andincrease in the production efficiency, however the same cannot be quantified.

(d) Total Energy consumption and energy consumption per unit of production

As adviced to the management, the present activity of the company is not covered underthe list of specified industries.

(a) RESEARCH & DEVELOPMENT (R & D)

1) Specific areas in which R & D carried out by the company:

Research & Development efforts were carried out in new product development.

2) Benefit derived as a result of the above R & D

Improvement in the quality of products and reduction in wastage.

3) Future plan of action

R & D efforts are done on continuous basis by the company to reduce cost andimprove the overall quality of products.

4) Expenditure on R & D

No separate record of the expenditure incurred is maintained as the majority ofexpenses incurred are of revenue nature.

?. FOREIGN EXCHANGE EARNINGS AND OUTGO

The information in foreign exchange earning and outgo is given below