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Ajanta Pharma Ltd.

BSE: 532331 | NSE: AJANTPHARM |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE031B01049 | SECTOR: Pharmaceuticals

BSE Live

Jun 18, 15:44
1949.50 -20.25 (-1.03%)
Volume
AVERAGE VOLUME
5-Day
6,163
10-Day
6,151
30-Day
5,732
6,132
  • Prev. Close

    1969.75

  • Open Price

    1963.90

  • Bid Price (Qty.)

    1949.50 (2)

  • Offer Price (Qty.)

    1949.50 (3)

NSE Live

Jun 18, 15:59
1947.90 -16.00 (-0.81%)
Volume
AVERAGE VOLUME
5-Day
98,417
10-Day
93,057
30-Day
111,473
67,500
  • Prev. Close

    1963.90

  • Open Price

    1970.00

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    1947.90 (190)

Annual Report

For Year :
2019 2018 2017 2016 2015 2014 2013 2012 2011

Auditor's Report

1. We have audited the attached Balance Sheet of AJANTA PHARMA LIMITED (the Company) as at 31st March 2008, the Profit and Loss Account and also the Cash Flow Statement of the Company for the year ended on that date, annexed thereto. These financial statements are the responsibility of the Companys management. Our responsibility is to express an opinion on these financial statements based on our audit. 2. We conducted our audit in accordance with auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. 3. As required by the Companies (Auditors Report) Order, 2003, as amended by the Companies (Auditors Report) (Amendment) Order, 2004 (together the Order), issued by the Central Government of India in terms of Section 227 (4A) of the Companies Act, 1956, we enclose in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the said order. 4. Further to our comments in the Annexure referred to above, 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 purposes 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 and proper returns adequate for the purposes of our audit have been received from the branches not visited by us; c) The Balance Sheet, Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account; d) In our opinion, the Balance Sheet, Profit and Loss Account and Cash Flow Statement dealt with by this report comply with the accounting standards referred to in Section 211 (3C) of the Companies Act, 1956; e) On the basis of written representations received from the directors, as on 31st March, 2008 and taken on record by the Board of Directors, we report that none of the directors is disqualified as on 31st March, 2008 from being appointed as a director in terms of Section 274(1 )(g) of the Companies Act, 1956; f) In our opinion and to the best of our information and according to the explanations given to us, the said accounts read together with accounting policies and other notes thereon, give the information required by the Companies Act, 1956, in the manner so required and give, a true and fair view in conformity with the accounting principles generally accepted in India; i) In the case of the Balance Sheet, of the state of affairs of the Company as at 31st March, 2008; ii) In the case of the Profit and Loss Account, of the profit for the year ended on that date; and iii) In the case of the Cash Flow Statement, of the cash flows for the year ended on that date. ANNEXURE TO THE AUDITORS REPORT (Referred to in the paragraph 3 of our report of even date to the Members of AJANTA PHARMA LIMITED on the accounts for the year ended 31st March, 2008.) 1. In respect of its fixed assets: a) The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets. b) The fixed assets have been physically verified by the management during the year as per the phased programme which, in our opinion, is reasonable having regard to the size of the Company and the nature of its assets. We are informed that there were no material discrepancies noticed on such verification. c) In our opinion, the Company has not disposed of substantial part of fixed assets during the year and going concern status of the Company is not affected. 2. In respect of inventories: a) As explained to us, the inventories were physically verified by the management at reasonable intervals during the year except for stocks with third parties for which most of the confirmation certificates have been obtained by the Company and stocks in transit. b) In our opinion and according to the information and explanations given to us, the procedure of 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) In our opinion and according to the information and explanations given to us, the Company has maintained proper records of its inventories and the discrepancies noticed on such physical verification between physical stock and book records were not material and have been adequately dealt with in the books of account. 3. In our opinion and according to the information and explanations given to us, the Company has neither taken nor given any loan, secured or unsecured, from/ to companies, firms or other parties covered in the register maintained under section 301 of the Companies Act, 1956. 4. In our opinion and according to the information and explanations given to us, there exits an adequate internal control system commensurate with the size of the Company and nature of its business with regard to purchases of inventory, fixed assets and for the sale of goods and services. During the course of our audit, we have not observed any continuing failure to correct major weaknesses in internal controls. 5. In our opinion and according to the information and explanations given to us, the particulars of contracts or arrangements referred to in section 301 of the Companies Act, 1956 have been entered in the register required to be maintained under that section and such transactions exceeding Rs. 5 Lacs in respect of each party have been made at prices which are prima facie, reasonable having regard to the prevailing market prices at the relevant time where such prices are available. 6. The Company has not accepted any deposit from public. 7. In our opinion and according to the information and explanations given to us, the Company has an internal audit system commensurate with the size and nature of its business. 8. We have broadly reviewed the books of account and records maintained by the Company relating to the manufacture of formulations, pursuant to the Order made by the Central Government for the maintenance of cost records under Section 209(1 )(d) of the Companies Act, 1956 and are of the opinion that prima facie, the prescribed records have been maintained and the prescribed accounts are in the process of being made up. We have however, not made a detailed examination of the records with a view to determining whether they are accurate and complete. 9. According to the information and explanations given to us in respect of statutory and other dues: a) The Company has generally been regular in depositing undisputed statutory dues, including Provident Fund, Investor Education and Protection Fund, Employees State Insurance, Income Tax, Sales Tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty, Cess and other material statutory dues with the appropriate authorities during the year. There were no dues on account of cess under Section 441A of the Companies Act, 1956, since the date from which aforesaid Section comes into effect has not yet been notified by the Central Government. b) According to the information and explanation given to us, except Sales Tax amounting to Rs. 10 lacs, no undisputed amounts payable in respect of Income Tax, Wealth Tax, Service Tax, Customs Duty, Excise Duty, Cess and other material statutory dues were in arrears, as at 31st March, 2008 for a period of more than six months from the date they became payable. c) On the basis of our examination of the documents and records of the Company and the information and explanations given to us, there are no dues of Income Tax, Wealth Tax, Service Tax, Customs Duty, Excise Duty and Cess which have not been deposited on account of a dispute, except as enumerated herein below which are pending before respective authorities as mentioned there against: Name of Nature of Amount the statute the Dues (Rs. in Lacs) Income Tax Income 117.04 Act, 1961 Tax 72.27 40.55 40.55 6.98 0.58 43.56 20.87 53.00 11.33 Central Excise 0.60 Excise Duty Act, 1944 Period to which Forum where amounts relate dispute is (Financial Year) pending 1999-2000 Commissioner of Income 2000-2001 Tax (Appeals) 2001-2002 2002-2003 2004-2005 Block period Income Tax 1989-1990 to Appellate 1999-2000 Tribunal 1997-1998 High Court 1998-1999 2000-2001 1995-1996 Finance Secretary, Delhi 10. The Company does not have any accumulated losses as at the end of the financial year. The Company has not incurred cash losses during the current and the immediately preceding financial year. 11. Based on our audit procedures, according to the information and explanations given to us and in our opinion that the Company has not defaulted in repayment of dues to financial institutions, banks and debenture holders. 12. According to the information and explanations given to us, the Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities. 13. In our opinion and according to the information and explanations given to us, the Company is not a chit fund/ nidhi/mutual benefit fund/society. 14. According to the information and explanations given to us, the Company is not dealing or trading in shares, securities, debentures and other investments. 15. 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. 16. In our opinion and according to the information and explanations given to us, the term loans have been applied for the purpose for which they were raised. 17. According to the cash flow statement and other records examined by us and the information and explanations given to us, on an overall basis, funds raised on short term basis have, prima facie, not been used during the year for long term investment. 18. The Company has not made any preferential allotment of shares to parties and companies covered in the register maintained under Section 301 of the Act during the year. 19. According to the information and explanations given to us, the Company does not have outstanding debentures at the beginning of the year nor has issued any debentures during the year. 20. The Company has not raised any money by public issue during the year. 21. To the best of our knowledge and belief and 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 KAPOOR & PAREKH ASSOCIATES Chartered Accountants S. S. KAPOOR Partner M. No. 5399 Place : Mumbai Date : 30th April, 2008