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Annual Report 2009 - 2010

RELIANCE FRESH LIMITED

Reliance Fresh Limited

1

Directors Report
Dear Members, Your Directors are pleased to present the Eleventh Annual Report and the Audited Accounts for the year ended March 31, 2010. Financial Results: The financial performance of the Company for the financial year ended March 31, 2010 is summarized below: (Rs. in lakh) 2009-2010 Profit/(Loss) before Depreciation, Interest and Tax Less: Interest Depreciation Profit /(Loss) before Tax Less: Provision for Fringe Benefit Tax Deferred Tax Profit/ (Loss) after Tax Add: Balance brought forward from previous year Balance carried to Balance Sheet Operational Review: During the year under the review, the Company has maintained its robust growth as a 'value retailer' dealing in a variety of superior quality food and non-food products at affordable prices. The Company's 'Reliance Fresh' stores offer wide assortment of products including private label products which are highly trusted, catering to the needs of the entire family. The Company has incurred a loss of Rs. 13,516.41 lakh for the financial year ended March 31, 2010. With the optimisation of resources and further scaling up of retail store operations, the Company is confident of posting better results in the future. The Company had applied to the Central Government seeking exemption from presenting the information as per paras 3(i)(a) and 3(ii)(b) of Part II of Schedule VI to the Companies Act, 1956. The Company has received Orders no. 46/84/2009-CLIII dated 14.05.2010 and no. 46/74/2010-CL-III dated 14.05.2010 of the Ministry of Corporate Affairs, Government of India granting the exemption from making the above disclosures respectively for the financial years ended on 31.03.2009 and 31.03.2010. 2008-2009 Dividend: Your directors have not recommended any dividend on equity shares for the year under review.

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