Shree Benzophen Industries Ltd Directors Report.

SHREE BENZOPHEN INDUSTRIES LIMITED ANNUAL REPORT 2006-2007 DIRECTORS REPORT Dear Members. Your Directors hereby present the 15th Annual Report together with the Audited statement of the account for the year ended on 31st March 2007. 1. Financial Results: Year Ended Year Ended 31.03.2007 31.03.2006 Sales, Job work Charges and 92.72 52.30 Interest 16.87 3.59 Depreciation 33.70 56.02 Loss before tax 30.06 65.98 Tax (FBT) 0.05 0.13 Loss after tax. 30.11 66.11 Balance Brought from earlier 738.25 673.02 year Prior Period Adjustment (0.06) 0.88 Total toss carried to Balance 768.42 738.25 Sheet 2. Public Deposits: The company has not accepted any deposit u/s 58A of the Companies Act, 1956 during the year under report. 3. Directors: Shri. I.S. Sodha, Directors shall retire by rotation at the ensuing annual general meeting and being eligible offer themselves for reappointment. a. Directors Responsibility: Pursuant to section 217 (2AA) of the Companies (Amendment) Act, 2000 the Directors confirm that. i) In the preparation of the annual accounts the applicable accounting standards have been followed. (ii) appropriate accounting policies have been selected and applied consistently and have made judgement and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company as at 31st March. 2007 and of the Profit & Loss Account for the period ended on that day. (iii) proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act,1950 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities.00 the annual accounts have been prepared on a going concern basis. 5. Corporate Governance Report: Corporate Governance Report as per clause 49 of the listing agreement with the Stock Exchanges is annexed herewith. 6. Auditors: M/s. S.G. Bhagwat & Co., Chartered Accountants, Auditors of the company retire at the ensuing annual general meeting and are eligible for reappointment. 7. Auditors Report: The observation of the auditors are explained wherever necessary, by way of appropriate notes to the accounts. Particulars of Employees: Information in accordance with the provision of section 217 (1A) of the. Companies Act, 1956 read with the Companies (Particulars of employees) Rules, 1975 as amended regarding employees is NIL. 9. Particulars regarding conservation of Energy, Technology Absorption and Foreign Exchange Income and Outgo: Information in accordance with the provision of section 217 (1E) of the companies Act, 1956 read with the Companies (Disclosure of Particulars in the Report of the Board of Directors Rules 1988 is as per Annexure - A. Baroda On behalf of the Board Date :11th August, 2007. B.S. SODHA CHAIRMAN Annual Report 2006 ANNEXURE - A Information in accordance with the provision of section 217 (1 E) of the Companies Act, 1956 read, with the Companies / (Disclosure of Particulars in the Report of the Board of Directors) Rules, 1988 is as under A. Conservation of energy: (a) Energy conservation measures taken Nil (b) additional investments and proposals, if any, begin implemented for Nil reduction of consumption of energy. (c) Impact of the measures at(a)and (b) above for reduction of energy: N.A consumption and consequent impact on the cost of production of goods. (d) Total energy consumption and energy consumption per unit of production : As per Form A: B. Technology absorption: (e) Efforts made in technology absorption: Nil C. Foreign exchange earnings and outgo: (f) Activities relating to exports; initiatives taken to increase exports; : Nil development of new export markets for products and services; and export plans; (g) Total foreign exchange used and earned. Current Year Pre. Year Foreign Exchange used : Nil Nil Foreign Exchange earned : Nil Nil