Directors Report

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Dear Shareholders,

On behalf of the Board of Directors of Diamond Industries Limited, I am pleased to place before you quarterly accounts of your company with brief review for the first quarter ended 30th September, 2011.

During the quarter under review your company has sustained gross profit/(Loss) for Rs (1,718,278/-) whereas earned other operating income amounting to Rs. 4,548,481/-. Meanwhile all legal disputed cases of your company have vigorously been contested at the proper forums and are properly explained in the statement annexed with the annual review for the period ended 30th June, 2011 under the title “Contingencies and Commitments”.

The earnings per share of the company for the period under review is Rs (0.68) as compared to Rs 0.00 for the corresponding quarter ended 30th September, 2010.

Directors of the company have cautiously decided in the best interest of shareholders to restart its core business manufacturing activities of foam & foam products for which much of the mechanical & electrical overhauling work and modification of machinery has been completed and the production is expected to start soon. The vision and future outlook of your company is focused on harmonizing its capabilities and maximizing its potential.

The Board of Directors express its appreciation to the company’s shareholders for their unwavering support and dedicated services of its employees.

For and on behalf of Board

Dated:- 28th October, 2011

Scholars College for Women Lahore

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