MANAGEMENT DISCUSSION AND ANALYSIS REPORTINDUSTRY STRUCTURE & DEVELOPMENT
Indian granite industry is one of the world's major producers of granite. Indiangranite is well placed among various granite producing countries like Italy,Brazil, China, Spain, Saudi Arab, South Africa etc. Many new plants have come up duringthis year and the competition has become fierce.
Opportunities
The granite continues to be in demand in developed world due to its naturalcharacteristics and aesthetic look
Threats
Competition from new granite processing countries like China & Brazil along withexisting establishments.
Outlook
The company will continue consolidate its position being unforeseen circumstances andsubject to currency fluctuation
Risk & Concerns:
New Capacities
Currency fluctuation
New granite processing countries
Internal Control system & Adequacy
The company has a proper and adequate system of internal control commensurate with itssize & nature of business.
Financial performance
The financial performance of the Company has been given separately in the Director'sReport.
Material Developments in Human Resources & Industrial Relations
The industrial relations remained cordial throughout the year. The company has 9employees.
The company assumes no responsibility in respect of forward looking statement which mayundergo substantial revisions in future on the basis of subsequent developments and/orevent.
(9) Genera) Information for Shareholders
1 Annual General Meeting is. proposed to be held at 10 A.M on 23 September 2011 at ourRegistered Office 322 3nd Floor.A-Wing. Ahura Centre. 82 Mahakali Caves Road. Andheri EastJ Mumbai -400
| 2. Financial calendar 2010-11 | |
| Annual results of previous year | 23.09.2011 |
| Annual General Meeting | 27-09-2012 |
| First quarter results | Before end of July 2011 |
| Second quarter results/Half yearly results | Before end of October 2011 |
| Third quarter results | Before end of January 2012 |
| 3. Date of book closure | 22nd September 2012 to 26 September 2012 |
| (Both days inclusive) |
| 4. Dividend payment date | Not Applicable |
| 5. Listing on stock exchanges | Mumbai (BSE) |
| 6. Stock Code & ISIN Number | Script Code No.: 531049 |
| The Stock Exchange, Mumbai | ISIN No. INR741D010I5 |
7 Stock market prices data for the year 2011 -2012
The high low prices during each month in the last financial year on Mumbai StockExchange are given below
| Month | Company's Share Price | Company's Share Price | BSE Sensex | BSE Sensex |
| High (Rs) | Low (Rs.) | High | Low |
| April | 11.00 | 9.50 | 19811.14 | 18976.19 |
| May | 10.30 | 8.00 | 19253.87 | 17786.13 |
| June | 10.00 | 7.20 | 18873.39 | 17314.38 |
| July | 9.61 | 7.00 | 19131.70 | 18131.86 |
| August | 9.35 | 6.51 | 18440.70 | 15765.53 |
| September | 8.21 | 7.00 | 17211.80 | 15801.01 |
| October | 7.55 | 6.90 | 17908.13 | 15745.43 |
| November | 8.40 | 6.61 | 17702.26 | 15478 69 |
| December | 9.00 | 6.06 | 17003.71 | 15135.86 |
| January | 8.45 | 7.02 | 17258.97 | 15358.02 |
| February | 819 | 7.11 | 18523.78 | 17061 55 |
| March | 9.25 | 7.00 | 18040.69 | 16920.61 |
8 Registrar & Share Transfer/Demat agent.
The Company's share transfer work and dematenalization of share is done Universalcapital securities Pvt Ltd. 21, Shakil Niwas, Mahakali Caves Road, Andhen (E), Mumbai400093
9 Share Transfer System : - The share transfers are registered and returned within aperiod of 30 days from the date of receipt if document are in order The share transfersarc approved by the Share Transfer Committee, Which meets as and when required
10 Distribution of Shareholding as on 31st March 2012
| NO Of Shares | NO Of Shareholder | % Of Shareholder | Share/holding % | Share/Holding | Share/Debenture | % of Share/Debenture |
| UP TO -500 | 1568 | 71.305 | 419091 | 9.697 | 4890910 00 | 9.697 |
| 501 1000 | 282 | 12 824 | 250332 | 4 963 | 2503320.00 | 4.963 |
| 1001 -2000 | 131 | 5 957 | 210636 | 4176 | 2106360 00 | 4176 |
| 2001 -3000 | 95 | 4 320 | 237997 | 4719 | 2379970 00 | 4719 |
| 3001 -4000 | 1 32 | 1 455 | 114202 | 2 264 | 114202000 | 2264 |
| 4001 5000 | 20 | 0910 | 91840 | 1821 | 918400 00 | 1821 |
| 5001 - 10000 | 25 | 1 137 | 176434 | 3 498 | 176434000 | 3498 |
| 10001 -And Above | 46 | 2 092 | 3473168 | 68 862 | 34731680 00 | 68 862 |
| Total 2199 | 100000 | 5043700 | 100.000 | 50437000.00 | 100000 |
11. Categories of Shareholders as on 31st March 2012
| Category | No Of Share | % Of Shareholding |
| Promoter Holding | | |
| Promoter Holding-India Promoter/Directors | 2506747 | 49 70 |
| 2 Non-Promoter Holding | - | - |
| 3 institutional Investor other | - | - |
| 4 Private Corporate Bodies | 276967 | 5 49 |
| 5 Indian Public | 2200553 | 43 63 |
| 6 NRJs / OCB | 50151 | 100 |
| 7 Other Clearing member | 9282 | 0.18 |
12 Dematenalisation of shares
As on 31st March, 2012 83 071% of the Company's total shares, representing 4189580shares were held indemat form and the balance 854120 Shares representing 16 93% of theCompany's total shares were in physical form.
13 Outstanding AD Rs GD Rs Warrants of any convertible instruments conversiondate and likely impact on equity Not applicable
14 Plant location The Company's plant is located as at 18 Km Stone jodhpur Barmer RoadVillage Narnadi Dist JODHPUR