DIRECTORS' REPORT

To,

The Members,

Shricon Industries Limited

Kota

Your Directors have pleasure in presenting the Annual Report of the Company for financial year ended March 31, 2014 with the Audited Statement of Accounts and the Auditors' Report of your Company for the financial year ended 31st March 2014.

FINANCIAL RESULTS:

The detailed financial statement of the Company is attached with this report.

DIVIDEND

Your directors do not recommend any dividend on equity shares for the period ended 31 st March, 2014.

DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 217 (2AA) of the Companies Act, 1956, with respect to Directors' Responsibility Statement, it is hereby confirmed that:

i. in the preparation of the annual accounts for the financial year ended 31st March, 2014, the applicable accounting standards have been followed along with proper explanations relating to material departures;

ii. the Directors have 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 as at 31st March, 2014 and of the profit of the Company for the said period;

iii. the Directors have 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

iv. the Directors have prepared the accounts for the financial year ended 31st March, 2014, on a 'going concern' basis.

PUBLIC DEPOSITS

Your Company has not accepted any fixed deposits from public and, as such, no amount of principal or interest was outstanding on the date of the balance sheet.

DIRECTORS:

In accordance with the provisions of the Companies Act, 1956 and the Articles of Association of your Company, Mr. Nawal Kishore Maheshwari, Director of your Company, retires by rotation at the forthcoming Annual General Meeting and being eligible, offers himself for reappointment.

AUDITORS

M/s M/s Harish Dayani & Co., Chartered Accountants the Auditors of your Company, retire at the forthcoming Annual General Meeting and have confirmed their eligibility and willingness to accept office, if reappointed.

The Notes on Accounts referred to in the Auditors' Report are self explanatory and do not require any further comments.

PARTICULARS OF EMPLOYEES

Information in terms of Sec 217(i)(e) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 is not applicable to the Company.

ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

Considering the business activities of the Company information required to be provided under Section 217(1)(e) of the Companies Act, 1956, read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988, in relation to Conservation of Energy and Technology Absorption are currently not applicable to the Company.

There was no earning or expenditure in foreign currency during the year.

ACKNOWLEDGEMENT

The Board of Directors would like to express their sincere thanks to the all shareholders and other concerned for their continued support and co-operation.

For and on behalf of the Board of Directors,

Om Prakash Maheshwari

Director

Nawal Kishore Maheshwari

Director

Date: August 14, 2014

Place: Kota