Dear friends,

Another year has gone by very quickly, leaving behind memories of new milestones achieved, goals accomplished and lessons learnt. During 2006-07, your Company has moved further towards the attainment of its Mission 2012 and created sound foundations for its future course of action.

The Company has stepped into a new phase of development, an era of transparency, team building and increasing efficiency on all fronts. Ever since we completed the Oncology Project, in Tarapur the team at Benzochem is in the grip of passion, positive energy and enthusiasm, creating wonders at unbelievable speed and with perfection. The list of achievements is long since we have seen tremendous growth in Human Resource, creation of World class infrastructure, wider product basket, expansion of markets - Domestic and Export, filing of Patents  & various GMP accreditations for our plants,

Key Achievements Awarded the “EUROPE QUALITY AWARD “in Vienna 2007 Your Company's strengths have been recognized over the last few years and Benzochem was felicitated European Business Assembly  for European Quality Awards in Vienna -2007  This appreciation and acknowledgement of our efforts gives us great morale boost and prods us to move with greater commitment towards our goals. Facilities Accredited by Third Party EU GMP auditors

• Increase in IPR Wealth

The Company filed two more Patent applications with Indian Patents Office and PCT for International Patents on new formulations developed by its Research Wing. 6 Patents for NIROS in Oncology segment were applied with IPO. The company was grated 5 Patents for NDDS in Hormone replacement Therapy

• International foray

On the international front, the Company has filed 8 USDMFs with USFDA for registration in 16 countries Worldwide for its range of Oncology, Dieuritics & sleep aids.

Dear friends, I foresee a sea of changes coming in our pharmaceutical industry with more stringent regulatory controls and norms coming in place for the benefit of consumer. As our economy progresses, medicines and healthcare will become more personalized and share of expenditure out of individual income is likely to increase substantially. All these shall be to the advantage of Indian pharmaceutical Industry in the long run, but for once it will shake the very foundation of this sector. This shake out will filter out the incompetent players and only companies with a long term vision and strategy shall be able to take advantage of new opportunities that would arise in coming times.

We at Benzochem have consolidated our operations and laid strong foundations keeping in view the long term implication of an open economy. I assure you that our best efforts shall be directed towards making Benzochem a global entity and realize our Mission 2012, playing against all odds. I thank all my stakeholders for the faith shown in the management and vision of the Company and pray to almighty above for his blessings for all of us in future as well.

Wishing all the Shareholders the very best,

Thanks & best regards,