GIRDHARI ESTATES PVT. LTD.

DIRECTORS REPORT

TO THE MEMBERS

Your directors are glad to present the 19th Annual report together with audited statement of accounts for
the year ended 31st March 2009.

1. SUMMARISED FINANCIAL RESULTS

Current Year Previous Year

(Rs.in lakhs) (Rs.in lakhs)
Income 1726176 1689742
Less: Operating & other expenditure 1162634 1047200
Profit before Interest, Depreciation & tax 563542 642542
Less: Interest - -
Depreciation (Including amortizations) 1361 1743
Profit before tax 562181 640799
Taxes on income 191700 252100
Profit after tax 370481 388699
Profit b/f from previous year 1662183 1273484
Add/Less: Prior period adjustments (7627) -
Profit carried to balance sheet 2025037 1662183

2. OPERATION
The Board has continued its efforts to search for profitable avenues for business and hopes for
Better results in the coming year.

3. DIVIDEND
In order to fuel growth in its revenues and profits the company needs to conserve its financial
resources to meet critical investment requirements in the near term due to which your directors
regret their inability to declare dividend to members.

4. CONSERVATION OF ENEGRY & TECHNOLOGY ABSORBTION

The issues to conservation of energy and technology absorption are not applicable at present, as
the company has not carried on any such business.

5. FOREIGN EXCHANGE EARNINGS & OUTGO

There has been no foreign exchange earnings and outgo during the year under review

6. PARTICULARS OF SPECIFIED EMPLOYEES

There are no employees covered under the disclosure requirement of section 217(2A) of the
Company Act 1956 read with the Companies ( Particulars of Employees ) Rules 1975.
 7. DIRECTORS RESPONSIBILITY STATEMENT
As required U/S 217 of the Company Act 1956, as amended by the Companies (Amendment) Act
2000, the Directors hereby confirm that

a) In the preparation of Annual Account, the applicable Accounting Standards had been followed
along with proper explanation made in the notes annexed to the accounts relating to material
departures

b) the directors had selected such accounting policies and applied them consistently and made
judgment 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 of the company
for that period .

c) The directors had taken proper and sufficient care for the maintenance of adequate accounting
records in accordance with the provision of this Act for safeguarding the assets of the
Company and for preventing and detecting fraud.

d) The Directors had prepared the Annual Accounts on a going concern basis.

8. DEPOSIT
The Company has not accepted any deposit from the public u/s. 58A of Company Act, 1956.

9. AUDITORS
M/s S.B.Dandeker & Co., Chartered Accountants, auditors of the company retire at the
forthcoming annual general meeting and have conveyed their eligibility and acceptance to be
reappointed.

10. ACKNOWLEDGEMENTS
The board places on record its appreciation for the effort and cooperation of all who have
contributed to the efficient functioning of the company during the year.

For & on behalf of the Board

GIRDHARI ESTATES PVT. LTD.

DIRECTOR

1A, K.P. Sinha Street,

Place: Kolkata
Date: 6th June,2009