Management's Responsibility for the Financial Statements

Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the Accounting Standards referred to in section 129 of the Companies Act. 2013 ("the Act"). This responsibility includes the design, implementation and maintenance of internal control relevanl to the preparation and presentation of the financiat statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditors" Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit lo obtain reasonable assurance about whether the financial statements are tree from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessmenl of the risks of material misstatement of the financial statements, whelher due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company's preparation and fair presentation of (he financial statements in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and Ihe reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

In our opinion and to the best of our information and according to the explanations given to us, the financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity wilh the accounting principles generally accepted in India;

a) In the case of the Balance Sheet, of the State of Affairs of the Company as at March 31, 2014;

b) In the case of the Profit and Loss Account, of the Profit tor the year ended on that date; and

c) in the case of the Cash Flow Statement, of the cash flows for the year ended on that date.

Report on Other Legal & Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order, 2003 ("the Order") issued by the Central Government of India in terms of sub-section (4A) of section 227 of the Act we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the Order. 2

2. As required by section 227(3) of the Act, we report that:

a WE have obtained all the information and explanatio; which to the best of our knowledge and belief were necessary for I he purpose of our audit:

bj in our opinion proper books of account as required by law have been kept by the Company so far as appears irom our examination of those books

c) The Balance Sheet. Statement of Profit and Loss, and Cash Flow Statement dealt with by this Report are in agreement with the books of account.

d) In our opinion, the Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement comply with the Accounting Standards referred to in section 129 of the Companies Act, 2013;

e) On the basis of written representations received from the directors as on March 3t. 2014, and taken on record by the Board ol Directors, none of the directors are disqualified as on March 31. 2014 from being appointed as a director in terms of section 164 of the Companies Act, 2013.

f) Since the Central Government has not issued any notification as to the rate al which the cess is to be paid under section 441A of the Companies Act. 1956 nor has it issued any Rules under the said section, prescribing the manner In which such cess is to be paid, no cess is due and payable by the Company.

Annexure referred to in paragraph 1 of the Our Report of even date Dr The basis of such checks as we considered appropriate and according to the rEnation and explanation given to us during the course of our audit, we report iat:

a The company has maintained proper records to show full particulars including quantitative details and situation of its fixed assets.

b) The fixed assets of the company have been physically verified during the year by the management and no material discrepancies between the book records and the physical inventory have been noticed

c) No substantial part of fixed assets of the company has been disposed off during the year.

a) The inventories of the company at all its locations have been physically verified by the management during the year.

b) in our opinion, the procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to the size of the company and nature of its business.

c)The company has maintained proper records of inventories and the discrepancies between the physical inventories and the book records have been properly dealt with in the books of account.

3. The company has neither granted nor taken loans, secured or unsecured, to / from companies, firms or other parties covered in the register maintained under section 189 of the Companies Act, 2013,

4. In our opinion, there is adequate internal control procedure commensurate with the size of the company and the nature of its business with regard to purchase of inventories, fixed assets and for the sale of goods.

5. In our opinion, and according lo the explanation given to us, the transactions that need to be entered in the register in pursuance to section 301 of the Act have been entered, and (he transactions have been made at prices, which are reasonable with regard to the prevailing market prices at that time

6. The Company has not accepted any deposits from the public covered under section 73 of the Companies Act, 2013.

7. As per information & explanations given by the management, the Company hasan internal audit system commensurate with its size and the nature of its business.

8. The Central Government has not prescribed the maintenance of cost record For the company under section 128 of the companies Act, 2013.

9.

a) According to the information & explanations given to us, there are no dues payable in respect of Provident Fund.

b) According to the information and explanations given to us, no undisputed dues payable in respect of income lax, sales tax, wealth tax, customs duty and cess were outstanding as at 31st March, 2014 for a period of more than six months from the date they became payable,

c) According to the information and explanations given to us, there are no dues in respect of income tax, sales tax. wealth lax, customs duty and cess that have not been deposited with the appropriate authorities on account of any dispute,

10. Based on our audit procedures and on the information and explanations given by the management, we are of the opinion that the company has not defaulted in the repayment of dues to the financial institution and banks.

11. According to the information and explanations given lo us, ihe Company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities,

12. The Company is not a chit fund or a nidhi /mutual benefit tund/society. Therefore, the provision of this clause ol the Companies (Auditor's Report) Order, 2003 (as amended) is not applicable to the Company.

13. According to the information and explanations given to us, the company is not dealing or trading in shares, securities, debentures and other investments. Hence the provisions under this clause are not applicable.

14. According to the information and explanations given to us. the company has not given any guarantee for loans taken by others from banks or financial institutions.

15. Based on our audit procedures and on the information given by the management, we report that the company has not raised any term loans during the year.

16) The company enjoys Over draft facility on which no overdue interest is outstanding.

17. On the basis of review of utilization of funds on an overall basis, our opinion, the funds raised on short term basis have not been utilized for long term investments.

18. The company has not made any preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the Act.

19. During the period covered by audit report, the company has not issued any debentures.

20. The company has not raised any money by public issues during the year.

21 Based on audit procedures performed and information and explanations given by the management, we report that no fraud on or by the company has been noticed or reported during the year,

Date: 13.05.2014                                For M.ILANGUMAFAN& CO.,
PLace: Chennai - 600 017                         Chartered Accountants,

                                                  NM.ILANGUMARAN