Dear Shareholders,

 Values are intrinsic to our lives. They add to the strength of our character and the righteousness of our beliefs. All of us are entrusted with the duty of being promoters and protectors of values. 

The growth of an organization depends upon the value based culture it follows. Apart from aspiring to increase the value in top line & the bottom line of the balance sheet, ethics, morals, values and professionalism have to be imparted in rendering customer satisfaction in all its aspects of services - be it quality, schedules, pricing or building enduring relationships.

Working within theses tenets, I take pleasure to inform that during the current year operations the Profits soared as the organization streamlined its activities, thereby building and capitalizing on its strengths, and setting higher goals for itself. Net sales from your Company's operations rose by 105.6 per cent soaring to 4253.13 lacs in 2006-07. Gross profit increased by 79.27 per cent reaching its highest at 742.49 lacs. The return on Capital Employed increased from 55.38 per cent in 2005-06 to 102.74 per cent in 2006-07. By seeing your Company's performance I am confident of its top line to touch Rs. one billion and a significant improvement in the bottom line in 2007-08.

These are laudable results and I congratulate MDL Management and its employees for delivering such excellent performance. It gives me immense pleasure to announce that your Company has extended its product and services to many new corporate clients like ITC Ltd, General Mills, Britannia etc.

Just like a plant that needs careful nurturing for proper growth at all stages, an organization too requires careful investments and a well-planned strategy for sustainable growth. At MDL, we adopt growth opportunities in tune with the market demand patterns.

MDL adapts to, and grows in an atmosphere of radical changes like the leaves of a plant, which fight all odds to survive and grow. Despite challenges and cut throat market competition, your Company has identified the business opportunities in various trading segments and successfully catered to various Government organizations through innovative marketing strategies.

Excellence is not an accomplishment. It is a spirit, a never ending process. We at MDL are perfectionists and believe in excellence above par. After the huge hit of Wind Mill Project we have further invested our resources in placing orders for two additional 1.25 MW Wind Mill machines to attain sustainable growth. In the years to come, I expect MDL to further expand its social and community initiatives, and to remain a true corporate citizen of this nation.

I would like to take this opportunity to again express my gratitude to the Board of Directors of Company, its Bankers, Employees and Suppliers for their unstinting support, and the confidence they have placed in our ability to make MDL a great success.

With Best regards,
- Mr. Om Prakash Goenka,
Chairman cum Managing Director