We hereby present the 20th Annual Report and the Audited Statement of Accounts for the Financial Year ended 31st March, 2014.

1. FINANCIAL RESULTS:

                                                           Amount (Rs)

PARTICULARS                            31-03-2014           31-03-2013

Other Income                         17,08,511.00         20,92,724.00

Total Revenue                     36,01,39,435.00      69,10,06,682.00

Total Expenses                    37,39,77,724.00      68,32,26,828.00

Less: Current Tax                               -         37,49,686.00

Add: Deferred Tax                       44,258.00          4,23,702.00

Add: Transfer from Reserve                      -                    -

Net Profit/(loss)                (1,38,82,547.00)         36,06,466.00

2) REVIEW OF OPERATIONS

Due to power cuts and loss of man hours on the state bifurcation issue in the financial year 2013-14, your Company revenue has come down from Rs. 68.89 cores to Rs. 35.84 crores which has resulted a net loss of Rs. 1,38,82,547.00

3) FUTURE OUTLOOK

With the recovery of economy and stable government in place, your Company would do better in the current financial year and the future will be good.

4) DIRECTORS

Appointment of Mrs. Aravinda Rani Vemuri (DIN: 01241976) as a Director

Pursuant to Section 152 of the Companies Act, 2013, the Board, in a view to expand the Board and to comply with the provisions of new Companies Act, 2013, recommends the appointment of Mrs Aravinda Rani Vemuri as the Director of the Company in the ensuing Annual General Meeting, liable to retire by rotation.

Appointment of Mr. Shaik Chand Basha (DIN: 01242030) and Mr. Sreenivasulu Reddy Angitapalli (DIN: 02956004) as Independent Directors

Pursuant to Section 149 of Companies Act, 2013, Mr. Shaik Chand Basha (DIN: 01242030) and Mr. Sreenivasulureddy Angitapalli (DIN: 02956004) will retire in the ensuing Annual General Meeting and being eligible seeks re-appointment. The Board of Directors recommends their re appointment. Sub-section (10) of Section 149 of the Companies Act, 2013, provides that independent directors shall hold office for a term of 5 consecutive years on the Board of the Company, and shall be eligible for re-appointment of the said term only by passing a Special Resolution by the shareholders of the Company.

Sri. S.P.Y. Redddy and Sri. T. Ravi Kumar Reddy ceased to be directors of the company with effect from 01.04.2014 & 01.09.2014 respectively. Dr. V. Chanddra Shkara Reddy resigned as Managing Director of the Company with effect from 14.08.2014

5) DIRECTORS' RESPONSIBILITY STATEMENT

To the best of their knowledge and belief and according to the information and explanations obtained by them your Directors make the following statement in terms of Section 217 (2AA) of the Companies Act, 1956:

I. In the preparation of the Annual Accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures, if any.

II. Appropriate accounting policies have been selected and applied consistently and have 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 March 31, 2014 and of the loss of the company for the year ended on that date.

III. Proper and sufficient care has been taken 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.

IV. The annual accounts have been prepared on a going concern basis.

6) CORPORATE GOVERNANCE

(a) Management Discussion and Analysis Report is enclosed.

(b) As per Clause 49 of the Listing Agreement with the Stock Exchanges, a separate section on Corporate Governance Practices followed by the Company together with a certificate from the Company's Auditor confirming compliance is set out in the Annexure forming part of this report.

7) FIXED DEPOSITS

The Company has not invited and raised any fixed deposits as on 31st March, 2014 in terms of the provisions of Section 58A of the Companies Act, 1956 read with the Companies (Acceptance of Deposits) Rules, 1975 as amended from time to time. There are no outstanding or unclaimed deposits as on 31st March, 2014.

8) PARTICULARS OF EMPLOYEES:

During the year under review, no employee of the company was in receipt of remuneration for the whole year which in the aggregate was Rs 60,00,000/- or more per annum nor was any employee in receipt of remuneration Rs. 5,00,000/- or more per month for any part of the year in accordance with the provisions of Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975 as amended.

During the year under review, industrial relations of the company continued to be cordial and peaceful.

9) PARTICULARS REGARDING ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:

Details of Energy Conservation, Research & Development, Technology Absorption, Foreign Exchange Earnings and Outgo as required 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, are given in Annexure "A" to the Directors Report.

10) AUDITORS:

M/s L.B. Reddy & Co., Chartered Accountants, Hyderabad, the present statutory auditors of the Company hold office in accordance with the provisions of the Companies Act, 1956, up to the conclusion of the ensuing annual general meeting and are eligible for re-appointment. A written consent letter and certificate under section 139(1) of the Companies Act, 2013 have been received from them. The Board of directors recommends their re-appointment for a period three years.

11) LISTING AT STOCK EXCHANGES:

The Equity Shares of the company are listed on Bombay Stock Exchange Limited, Phiroze Jeejeebhoy Towers, Dalai Street, Mumbai - 400 001. Listing fees to the Bombay Stock Exchange Limited has been paid up-to-date.

12) ACKNOWLEDGEMENTS:

Your directors wish to place on record their sincere gratitude to the Government of India, State Government, Bankers, Distributors, Dealers, Suppliers, Customers and employees and workers of the Company for their whole hearted co-operation extended to the Company during the year.

                                             //By Order of the Board//
                                 for Integrated Thermoplastics Limited

                             Sd/-                                 Sd/-
     SURESH KUMAR SHAHSTRY VEMURI          DR. V. CHANDRASEKHARA REDDY
              WHOLE TIME DIRECTOR                             DIRECTOR