DIRECTORS' REPORT TO THE SHAREHOLDERS
The tractor of a farmer is like referee’s whistle or a hunter’s rifle. If there is one thingfrom which a farmer expects firm guarantees, it is definitely the reliability of his tractor,the money making machine on which he spends a good part of his life.”The Directors feel pleasure in presenting their 45th annual report together with auditedaccounts of the Company for the year ended June 30,2008APPROPRIATIONS Your Directors recommended a payment of cash dividend @ Rs. 20.00 per share (200%)in addition to interim dividend of Rs. 12.50 per share (125%) already paid.