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Life Insurance Corporation of India

Moneycontrol

Budget 2022

Associate Partners:

  • Kotak Mutual Fund
  • Pharmeasy
  • Indiabulls
  • State Bank of India
  • CoinSwitch Kuber

Presenting Partner

Life Insurance Corporation of India

Moneycontrol

Budget 2022

Technology Partner

Dell Technologies

Associate Partners

Kotak Mutual Fund
Pharmeasy
Indiabulls
State Bank of India
CoinSwitch Kuber
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Agro Tech Foods Ltd.

BSE: 500215 | NSE: ATFL |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE209A01019 | SECTOR: Edible Oils & Solvent Extraction

BSE Live

Jan 28, 16:00
954.00 9.55 (1.01%)
Volume
AVERAGE VOLUME
5-Day
645
10-Day
632
30-Day
647
158
  • Prev. Close

    944.45

  • Open Price

    944.95

  • Bid Price (Qty.)

    953.20 (1)

  • Offer Price (Qty.)

    958.20 (1)

NSE Live

Jan 28, 15:49
955.35 6.10 (0.64%)
Volume
AVERAGE VOLUME
5-Day
24,626
10-Day
15,667
30-Day
11,444
72,381
  • Prev. Close

    949.25

  • Open Price

    930.00

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

Annual Report

For Year :
2019 2017 2016 2015 2014 2013 2011 2010 2009

Auditor's Report

Report on the Financial Statements We have audited the accompanying financial statements of Agro Tech Foods Limited (''the Company''), which comprise the Balance Sheet as at 31 March 2013, the Statement of Profit and Loss and Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information. Management''s Responsibility for the Financial Statements Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the Accounting Standards referred to in sub section (3C) of Section 211 of the Companies Act, 1956 (the Act). This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error. Auditor''s Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor''s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company''s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by Management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion and to the best of our information and according to the explanations given to us, the financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India: a. in the case of the Balance Sheet, of the state of affairs of the Company as at 31 March 2013; b. in the case of the Statement of Profit and Loss, of the profit for the year ended on that date; and c. in the case of the Cash Flow Statement, of the cash flows for the year ended on that date. Report on Other Legal and Regulatory Requirements 1. As required by the Companies (Auditor''s Report) Order, 2003 (the Order), as amended, issued by the Central Government of India in terms of sub-section (4A) of Section 227 of the Act, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the Order. 2. As required by Section 227(3) of the Act, we report that: a. we have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit; b. in our opinion proper books of account as required by law have been kept by the Company so far as appears from our examination of those books; c. the Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement dealt with by this Report are in agreement with the books of account; d. in our opinion, the Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement comply with the Accounting Standards referred to in sub section (3C) of Section 211 of the Companies Act, 1956, to the extent applicable; e. on the basis of written representations received from the directors as on 31 March 2013, and taken on record by the Board of Directors, none of the directors is disqualified as on 31 March 2013, from being appointed as a director in terms of clause (g) of sub section (1) of Section 274 of the Companies Act, 1956. The Annexure referred to in the auditor''s report to the Members of Agro Tech Foods Limited (the Company) for the year ended 31 March 2013. We report that: (i) (a) The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets. (b) The Company has a regular program of physical verification of its fixed assets by which all fixed assets are verified every year. In our opinion, the periodicity of physical verification is reasonable having regard to the size of the Company and the nature of its assets. No material discrepancies were noted on such verification. (c) Fixed assets disposed off during the year were not substantial, and therefore, do not affect the going concern assumption. (ii) (a) The inventories, except goods-in-transit and stocks lying with third parties, have been physically verified by the Management during the year. In our opinion, the frequency of such verification is reasonable. For stocks lying with third parties at the year-end, written confirmations have been obtained. (b) In our opinion, the procedures for the physical verification of inventories followed by the Management are reasonable and adequate in relation to the size of the Company and the nature of its business. (c) The Company is maintaining proper records of inventory. The discrepancies noticed on verification between the physical stocks and the book records were not material. (iii) The Company has neither granted nor taken any loans, secured or unsecured, to or from companies, firms or other parties covered in the register maintained under Section 301 of the Companies Act, 1956. (iv) In our opinion and according to the information and explanations given to us, and having regard to the explanation that purchases of certain items of inventories are for the Company''s specialised requirements and suitable alternative sources are not available to obtain comparable quotations, there is an adequate internal control system commensurate with the size of the Company and the nature of its business with regard to purchase of inventories and fixed assets and with regard to the sale of goods and services. We have not observed any major weakness in the internal control system during the course of the audit. (v) In our opinion, and according to the information and explanations given to us, there are no contracts and arrangements the particulars of which need to be entered into the register maintained under section 301 of the Companies Act, 1956. (vi) The Company has not accepted any deposits from the public. (vii) In our opinion, the Company has an internal audit system commensurate with the size and nature of its business. (viii)We have broadly reviewed the books of account maintained by the Company pursuant to the rules prescribed by the Central Government for maintenance of cost records under Section 209(1)(d) of the Companies Act, 1956 and are of the opinion that prima facie, the prescribed accounts and records have been made and maintained. However, we have not made a detailed examination of the records. (ix) (a) According to the information and explanations given to us and on the basis of our examination of the records of the Company, amounts deducted/accrued in the books of account in respect of undisputed statutory dues including Provident fund, Employees'' state insurance, Income tax, Sales tax, Wealth tax, Service tax, Customs duty, Excise duty and other material statutory dues have been regularly deposited during the year by the Company with the appropriate authorities. As explained to us, the Company did not have any dues on account of investor education and protection fund. According to the information and explanations given to us, no undisputed amounts payable in respect of provident Fund, Employees'' State Insurance, Income tax, Sales tax, Wealth tax, Service tax, Customs duty, Excise duty and other material statutory dues were in arrears as at 31 March 2013 for a period of more than six months from the date they became payable. (b) According to the information and explanations given to us, there are no dues of Income tax, Wealth tax, Service tax and Customs duty which have not been deposited with the appropriate authorities on account of any dispute. According to the information and explanations given to us, the following dues of Sales tax, Excise duty and Entry tax have not been deposited by the Company on account of disputes: Name of the Statute Nature of Dues Amount* (Rs. Million) Excise Duty CENVAT credit 0.78 Central Excise Act, 1944 Excise Duty 79.09 Excise Duty 14.05 Customs Act, 1962 Customs Duty 1.78 Andhra Pradesh General 0.10 Sales Tax Sales Tax 1.80 Act, 1956 1.98 Andhra Pradesh Entry Tax Act, Entry Tax 1.17 2001 Value Added Tax 25.64 Tamilnadu Sales Tax 0.26 Sales Tax Act, 1959 2.23 West Bengal Sales Tax Sales Tax 0.72 Act 1994 West Bengal Value Value Added Tax 7.28 Added Tax, 2005 Name of the Statute Period to which the amount Forum Where the dispute is pending relates Central Excise Act 1944 2004 - 2005 Central Excise and Service Tax Appellate Tribunal 2012 - 2013 Central Excise and Service Tax Appellate Tribunal 2009 - 2012 Commissioner of Excise and Custom Customs Act 1962 2001 - 2002 Andhra Pradesh High Court Andhra Pradesh General Sales Tax Act 1956 1997 - 1998 Sales Tax Appellate Tribunal 2001 - 2002 Sales Tax Appellate Tribunal 2002 - 2003 Appellate Deputy Commissioner, Commercial Taxes Andhra Pradesh Entry Tax Act 2001 2005 - 2006 Deputy Commissioner (Appeals), Commercial Taxes 2007 - 2008 DCTO (CT) Audit Tamilnadu Sales Tax Act 1959 2002 - 2003 Assistant Commissioner, Commercial Taxes 2003 - 2004 Assistant Commissioner (CT), Koyambedu, Chennai West Bengal Sales Tax Act 1994 2001 - 2002 Sales Tax Appellate Tribunal West Bengal Value Added Tax 2005 2009 - 2010 Additional Commissioner (Appeals) (x) The Company does not have any accumulated losses at the end of the financial year and has not incurred cash losses in the financial year and in the immediately preceding financial year. (xi) In our opinion and according to the information and explanations given to us, the Company has not defaulted in repayment of dues to its bankers. The Company did not have any outstanding dues to any financial institution or debenture holders during the year. (xii) The Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities. (xiii)In our opinion and according to the information and explanations given to us, the Company is not a chit fund or a nidhi/ mutual benefit fund/ society. (xiv) According to the information and explanations given to us, the Company is not dealing or trading in shares, securities, debentures and other investments. (xv) According to the information and explanations given to us, the Company has not given any guarantee for loans taken by others from banks or financial institutions. (xvi) The Company did not have any term loans outstanding during the year. (xvii) According to the information and explanations given to us and on an overall examination of the Balance Sheet of the Company, we are of the opinion that the funds raised on short-term basis have not been used for long-term investment. (xviii)The Company has not made any preferential allotment of shares to companies/firms/parties covered in the register maintained under Section 301 of the Companies Act, 1956. (xix)The Company did not have any outstanding debentures during the year. (xx) The Company has not raised any money by public issues. (xxi)According to the information and explanations given to us, no fraud on or by the Company has been noticed or reported during the course of our audit. For B S R and Co Chartered Accountants Firm Registration No. 128510W Zubin Shekary Place : Gurgaon Partner Date : 24 April 2013 Membership No. 048814