Dhunseri Tea & Industries Ltd.

We at Dhunseri Tea believe in business development as a continuous long-term activitywhich is independent of market cycles

Dear Shareholders

It gives me great pleasure to welcome you all to this 20th Annual General Meeting ofyour Company. I am pleased to inform you that in spite of the challenging businessenvironment and adversities faced during the year we were able to sustain our competitiveadvantages in both manufacturing and marketing of tea through our efficient and timelyactions. We as always focussed our endeavours to make better quality tea which isessential to ensure customer loyalty and enhance realisations.

We believe that the production of quality tea enables us to sustain our brand valueresulting in building customers loyalty as well as placing us on an advantageous positionto counter competition and devising effective marketing strategies for continuedsuccessful business operation of the Company.

The demand for quality remains a key driver of our industry due to increasing affluenceand evolving consumer taste for high quality beverages in coming years. It is believedthat focus on quality is key to building sustainable brand value for improving margins andprofitability in the backdrop of increasing trend of cost escalation. We are constantlymonitoring and actively taking steps to effectively control cost increases.

I am also pleased to inform you that we have recently launched packet tea in the Stateof

Odisha where the market response appears to be encouraging.

Our efforts are also on to identify and explore newer markets for increasing sale ofpackaged tea in Rajasthan and other states.

We continue to make long term investments to strengthen our business includingreplacing and replenishment of old bushes.

We continue to invest in brand building. Today nearly 35% of our tea production is soldas branded packet tea.

At Dhunseri Tea we are positive about our prospects. Tea continues to be the mostaffordable beverage in the country. The increase in disposable income will generategrowing preference for quality teas. We are also looking at vast rural Indian market andits potential in coming years.

In view of these realities we are optimistic of enhancing future growth andshareholder value.