Dear Stakeholder,


We always look with immense pleasure in welcoming December for the two
following reasons:

1. Welcome the New Year which we hope and wish will bring in lot of
prosperity, cheer, happiness and overall growth for your company.

2. We get an opportunity to meet up and interact with all of you, the
real owners of the company. It gives me great pleasure to welcome you
all to the 19th AGM of your company. I am sure we will able to see all
the old supporters of Cerebra and also some new ones during the AGM.

The economic scenario continues to be bleak and bearish. We hopefully
assume that this should and will change sooner rather than later. Your
Company has performed well in spite of the bleak economic outlook.
Enhance inflation, higher interest rates, rising commodity prices and
continued weakness in the global economy have added to the woes of the
industry. Investments in to Indian Corporate reduced drastically in the
past 18 months or so. India''s economy grew by a low level of 5% last
year and is not expected to be any better this year. The political
scenario is also turbulent and we hope this will stabilise post
elections round the corner and will have a stable, growth oriented
Government in the centre.

Your Company has achieved a turnover of Rs. 23,205.11 Lakhs and a
profit of Rs. 536.32 Lakhs during the year. The year saw its ups and
downs for your Company. We had signed a SPA to acquire the Singapore
based E waste recycling company called Cimelia; however we were forced
to abort the same based on the advice of our advisors, well-wishers and
investors. We are focusing fully on setting up the India E waste plant
and will soon conclude and start the plant in Narsapura Bangalore.


As mentioned in the last Annual Report, your Company has started
exports of products to Canada and the volume of orders and value of
booked orders to Canada has exceeded our expectations. Apart from this
we have added many new customers and have confirmed orders for the next
12 months. We have been rated as the Top Electronics Manufacturer with
a MNC who is based out of Singapore and has a global footprint
comprising of the Americas, Asia Pacific, Europe, Middle East and

Cerebra Middle East:

Your Company''s Middle East subsidiary has performed exceedingly well
and the future also looks very promising. We have a team of young and
dynamic personnel steered by an aggressive team leader and we have
always been confident of their achieving the numbers and also exceeding
them. Our confidence proved to be right.

Software, BPO, LPO

These divisions continue to perform though not up to our expectations.
We have worked on different strategies here and hope this year will
witness more encouraging results.

E waste: This continues to be our focus area and have started working
on the Narsapura plant. We have started collecting E waste and
segregating, shredding and processing them. Repair and refurbishment
will start in full swing during the coming year.

Your Directors have covered each sector in great detail and very soon
you all will be proud owners of a world class recycling plant.

We take this opportunity to thank you all, partners, vendors, bankers
and the Governments of India and Karnataka for their support without
which we would not have achieved any of the things mentioned in this
report. Needless to add, nothing would have been possible without the
relentless and dedicated cooperation extended by the employees at all
levels and I sincerely salute them for their efforts.

On behalf of Team Cerebra, I take this opportunity to wish all of you a
Very Happy and Prosperous New Year 2014!

Warm Regards

V Ranganathan

Managing Director

CIN: U67190WB2003PTC096617. Trading in Commodities is done through our Group Company Dynamic Commodities Pvt. Ltd. The company is also engaged in Proprietory Trading apart from Client Business.

Disclaimer: There is no guarantee of profits or no exceptions from losses. The investment advice provided are solely the personal views of the research team. You are advised to rely on your own judgment while making investment / Trading decisions. Past performance is not an indicator of future returns. Investment is subject to market risks. You should read and understand the Risk Disclosure Documents before trading/Investing.

Disclosure: We, Dynamic Equities Private Limited are also engaged in Proprietory Trading apart from Client Business. In case of any complaints/grievances, clients may write to us at compliance@dynamiclevels.com

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