The Board of Directors present the 26th Annual Report together with Audited Statement of Accounts for the year ended 31st March, 2015 along with the cash flow statements:

1. OPERATIONS AND FINANCIAL RESULTS

                                             Year Ended     Year Ended
                                              31/03/2015    31/03/2014
                                             (Re in Lacs)  (Re in Lacs)

Sales                                           4102.60        5339.66

Other Income                                       4.95           2.76

Profit for the year before Depreciation           39.58          61.11
& Tax

Less : Depreciation                               30.72          30.12

Profit before Tax                                  8.86          30.99

Less : Provision for Tax                           1.70           6.00

Profit after tax                                   7.16          24.99

Add/Less: IT Provisions for earlier years        (1.09)           0.38

Profit for the year                                6.07          25.37

Profit/ (Loss) carried to Balance Sheet (100.21) (106.29)

2. PERFORMANCE

Your Company has managed to achieve reasonable good performance during the year in spite of difficult market conditions.

The company has produced 3795.44 tons against 4478.05 tons during the previous year resulting in sales turnover of Re.4102.60 lacs as against Re.5339.66 lacs during the previous year.

3. DIVIDEND

Directors do not recommend any dividend due to the accumulated losses suffered by the company.

4. DIRECTORS & KEY MANAGERIAL PERSONNEL

Smt. Varsha J. Vakharia retires by rotation and being eligible offers herself for reappointment.

Shri Pradeep K. Pareek has been appointed as Chief Financial Officer of the company w.e.f. 1st December 2014 and Shri Subodh L. More was appointed as Company Secretary w.e.f. 1st December 2014 and resigned from 23rd May 2015.

5. AUDITORS

M/s. Poladia & Co. Chartered Accountants have given their consent for re-appointment for F. Y 2015- 2016. Members are requested to re-appoint them.

6. FIXED DEPOSITS :

Your Company has not accepted any deposits within the meaning of Section 73 of the Companies Act, 2013 and the Companies (Acceptance of Deposits) Rules, 2014.

7. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS :

The company has not given any loans or guarantees covered under the provisions of section 186 of the Companies Act, 2013.

The details of the investments made by the company is given in the notes to the financial statements.

8. DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 134(5) of the Companies Act 2013, Directors of your Company hereby state and confirm that :-

a) in the preparation of the annual accounts for the year ended March 31, 2015, the applicable accounting standards read with requirements set out under Schedule III to the Act, have been followed and there are no material departures from the same.

b) the Directors have selected such accounting policies and applied them consistently made Judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state affairs of the Company as at March 31, 2015 and of the profit of the company for the year ended on that date.

c) the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d) the Directors have prepared the annual accounts on a going concern basis;

e) the Directors have laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and are operating effectively; and

f) the Directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.

9. AUDITORS REPORT

Auditors notes are self-explanatory and do not call for any further comments.

10. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE

The particulars relating to conservation of energy, technology absorption, foreign exchange earnings and outgo as required to be disclosed under the Act, are provided in Annexure A to this report.

11. AUDIT COMMITTEE

The Audit Committee comprises two Independent Directors namely Shri Dinesh P Turakhia and Shri Kamlesh C. Sanghavi and Shri Jitendra K. Vakharia as Director. All recommendations made by the Audit Committee were accepted by the Board.

12. VIGIL MECHANISM

The Vigil Mechanism of the Company also incorporates a whistle blower policy in terms of the listing Agreement. Protected disclosures can be made by a whistle blower through an e-mail, or dedicated telephone line or a letter to the Task Force or to the Chairman of the Audit Committee. The Policy on vigil mechanism and whistle blower policy may be accessed on the Company's website at www.everlon.in

13. SECRETARIAL AUDITOR

The Board has appointed A.M. Sheth & Associates., Practising Company Secretary, to conduct Secretarial Audit for the financial year 2014-15. The Secretarial Audit Report for the financial year ended March 31, 2015 is annexed herewith marked as Annexure B to this Report, The Secretarial Audit Report does not contain any qualification, reservation or adverse remark.

14. MEETING OF THE BOARD OF DIRECTORS

The Board of Directors duly met 6 times during the financial year from 1st April, 2014 to 31st March 2015. The dates on which the meetings were held are as follows;-

30th May 2014, 8th August 2014, 18th October 2014, 27th November 2014, 10th January 2015 and 19th March 2015.

15. EXTRACT OF ANNUAL RETURN

Extract of Annual Return of the Company is annexed herewith as Annexure C to this Report.

16. RISK MANAGEMENT

The company has formulated an Risk Management Plan

17. CORPORATE SOCIAL RESPONSIBILITY

Pursuant to provisions of section 135 of the Companies Act, 2013 read with Companies (Corporate Social Responsibility Policy) Rules, 2014 are not applicable to the company.

18. CORPORATE GOVERNANCE

Pursuant to clause 49 of The Listing Agreement with The Bombay Stock Exchange, Management Discussion and Analysis Report, Corporate Governance Report and Auditors Certificate regarding compliance of Corporate Governance are made a part of the Annual Report.

19. DEPOSITS

The Company has not accepted any Deposits from the Public.

20 CONTRACT U/S. 188

All contract/arrangements / transactions entered by the company during the financial year with related parties were in ordinary course of business and on an arm's length basis. Form AOC2 giving details of contract is attached herewith as Annexure D.

21. INTERNAL FINANCIAL CONTROL

The company has adequate internal financial control.

22. INDEPENDENT DIRECTORS DECLARATION

Shri Dinesh P Turakhia and Shri Kamlesh C. Sanghavi, Independent Directors have given declaration that they meet the criteria of independence as provided in S.149(6) of the Companies Act, 2013.

23. DIRECTORS REMUNERATION

Remuneration policy for Directors, Key Managerial Persons and other employees is attached herewith as Annexure E.

Particulars of Directors Remuneration as required u/s. 197(12) read with Rule 5(1) of Companies (Appointment and Remuneration of Managerial Personnel)Rules 2014 are attached herewith as Annexure F.

24. GENERAL DISCLOSURE

No disclosure is required in respect of following matters:-

(a) Subsidiary Associate or Joint Venture Company,

(b) Material orders passed by the Regulators, or Courts or Tribunals,

(c) Equity shares with differential rights,

(d) Sweat equity shares,

(e) Employee Stock Options Scheme,

(f) Particulars of Employees,

(g) Sexual Harassment of Women at work place (Prevention, Prohibition and Redressal) Act, 2013. (No cases filed).

25. ACKNOWLEDGEMENT

The Directors wish to place on record appreciation for the efforts put in by all the employees of the Company, They are thankful to Company's Bankers for the support extended to the company,

                             For and on behalf of the Board of Director

                                     - sd -                    - sd -
                             J. K. Vakharia             V. J. Vakharia
                          Managing Director                   Director
                               DIN 00047777               DIN 00052361