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Allcargo Logistics Ltd.

BSE: 532749 | NSE: ALLCARGO |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE418H01029 | SECTOR: Transport & Logistics

BSE Live

Aug 04, 12:52
202.90 -2.00 (-0.98%)
Volume
AVERAGE VOLUME
5-Day
507,927
10-Day
408,827
30-Day
216,170
114,958
  • Prev. Close

    204.90

  • Open Price

    205.00

  • Bid Price (Qty.)

    202.90 (36)

  • Offer Price (Qty.)

    203.25 (319)

NSE Live

Aug 04, 12:52
202.95 -1.95 (-0.95%)
Volume
AVERAGE VOLUME
5-Day
3,711,607
10-Day
4,049,140
30-Day
2,528,078
1,499,813
  • Prev. Close

    204.90

  • Open Price

    204.00

  • Bid Price (Qty.)

    202.90 (1)

  • Offer Price (Qty.)

    203.15 (9)

Annual Report

For Year :
2018 2017 2016 2015 2014 2013 2012 2010 2009

Auditor's Report

1. We have audited the attached Balance Sheet of Allcargo Global Logistics Limited as at December 31,2007 and also the Profit and Loss Account and the Cash Flow Statement of the Company for the year ended on that date, both 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 have 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 misstatements. An audit includes examining, on a 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 evaluation of 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, (herein after referred to as the Order) issued by the Central Government in terms of Section 227(4A) of the Companies Act, 1956, we give in the Annexure, a statement on the matters specified in paragraphs 4 & 5 of the said Order. 4. Further to our comments in the annexure referred to in paragraph 3 above, we report that: i. We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purpose of the audit; ii. 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; iii. The Balance Sheet, Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account; iv. In our opinion the Balance Sheet, Profit & Loss Account and Cash Flow Statement, dealt with by this report, complies with the Accounting Standards referred to in the Companies (Accounting Standard) Rules, 2006, issued by Central Government, read together with sub-section (3C) of Section 211 of the Companies Act, 1956; v. Reference is drawn to the note 11 of Schedule 21, regarding the change in method of charging depreciation on Commercial Vehicles given on Lease, from written down value method to straight line method for the year ended December 31, 2007 . If the Company had continued depreciating the above asset on written down value method, the Profit after Tax would have been Rs. 579,590 thousand instead of Rs.597,835 thousand Reserves & Surplus would have been Rs.3,598,210 thousand instead of Rs.3,616,454 thousand Fixed Assets would have been Rs.2,067,501 thousand instead of Rs.2,100,867 thousand Deferred Tax Liability would have been Rs. 90,250 thousand instead of Rs.101,591 thousand and MAT Credit Entitlement account would have been Rs.30,472 thousand instead of Rs. 26,692 thousand; vi. In our opinion and to the best of our information and according to the explanations given to us, the said financial statements together with the notes thereon and attached thereto give in the prescribed manner the information required by the Companies Act, 1956, and give a true and fair view in conformity with the accounting principles generally accepted in India : (a) in the case of balance sheet, of the state of affairs of the Company as at December 31, 2007; (b) in the case of the profit and loss account, 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. 5. On the basis of written representations received from the directors as on December 31,2007 and taken on record by the Board of Directors, we report that none of the Directors is disqualified as on December 31, 2007 from being appointed as a director in terms of clause (g) of sub-section (1) of Section 274 of the Companies Act, 1956. i) a. The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets. b. All the assets have not been physically verified by the management during the year but there is a regular programme of verification, which, in our opinion, is reasonable having regard to the size of the Company and the nature of its assets. No material discrepancies were noticed on such verification. c. Fixed Assets disposed off during the year were not substantial and therefore do not affect going concern assumption. ii) a. Inventory has been physically verified by the management during the year. In our opinion, the frequency of verification is reasonable. b. The procedures of physical verification of inventory 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 inventories and no material discrepancies were noticed on physical verification. iii) a. The Company had granted an unsecured loan to a company listed in the register maintained under Section 301 of the Companies Act, 1956. The maximum amount during the year was Rs. 2,35,89 thousand. At the year-end, the outstanding balance of the loan granted was Nil. b. In our opinion, the rate of interest and other terms and conditions of the Loan was not, prima facie, prejudicial to the interest of the Company. c. The Company has not taken any loans, secured or unsecured, from companies, firms or other parties listed 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 there are adequate internal control procedures commensurate with the size of the Company and the nature of its business with regard to purchase of fixed assets and with regard to sale of goods and supply of services. During the course of the audit, we have not observed any continuing failure to correct major weaknesses in internal controls. v) a. According to the information and explanations given to us, we are of the opinion that the transactions that need to be entered into the register maintained under Section 301 of the Companies Act, 1956 have been so entered. b. In our opinion and according to the information and explanations given to us, the transactions made in pursuance of contracts or arrangements entered in the register maintained under Section 301 of the Companies Act, 1956 and exceeding the value of rupees five lakhs in respect of any party during the year have been made at prices which are reasonable having regard to prevailing market prices at the relevant time. vi) As the Company has not accepted any deposits from the public, paragraph 4 (vi) of the Order is not applicable. vii) In our opinion, the Company has an internal audit system commensurate with the size and nature of its business. viii) To the best of our knowledge and as explained, the Central Government has not prescribed maintenance of cost records under clause (d) of sub-section (1) of Section 209 of the Companies Act, 1956 for the products of the Company. ix) a. According to the records examined by us, the Company is generally regular in depositing undisputed statutory dues including provident fund, investor education and protection fund, Employees State Insurance, income tax, wealth tax, sales tax, service tax, customs duty, excise duty, cess and other statutory dues applicable to it with the appropriate authorities. b. According to the information and explanation given to us, and the records examined by us, there are no dues of Income tax, Sales tax, Customs duty, Wealth tax, Excise duty, Service tax or cess which have not been deposited on account of any dispute, other than those stated hereunder: Sr. No. Name of the Statute Period to which the amount relates 1 Income Tax Act 2002-2003 2 Income Tax Act 2003-2004 Amount disputed Amount paid Rs. in 000s Rs. 1,617 Nil 564 Nil x) The Company does not have accumulated losses as at the end of the year and the Company has not incurred cash losses during the current and 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 a financial institution, bank or debenture holders. xii) As the Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities, paragraph 4 (xii) of the Order is not applicable. xiii) As the Company is not a chit fund/nidhi/mutual benefit funds/society to which the provisions of special statute relating to chit fund are applicable, paragraph 4(xiii) of the Order is not applicable. xiv) In our opinion, the Company has maintained proper records of the transactions and contracts in respect of investments purchased and sold during the year and timely entries have been made therein. The investments made by the Company are held in its own name. xv) In our opinion, the terms and conditions on which the Company has given guarantees for loans taken by others from banks or financial institutions are not prejudicial to the interest of the Company. xvi) In our opinion, the term loans have been applied for the purpose for which they were raised. xvii) According to the information and explanations given to us and on an overall examination of the balance sheet and cash flows of the Company, we report that funds raised on short-term basis have not been used for long-term investment. No long-term funds have been used to finance short-term assets except permanent working capital. xviii) The Company has not made preferential allotment of shares to parties covered in the register maintained under Section 301 of the Companies Act, 1956. xix) As the Company has not issued any debentures, paragraph 4(xix) of the Order is not applicable. xx) The Company has not raised any money through a public issue during the year. xxi) Based upon the audit procedures performed and information and explanations given by the management, we report that no fraud on or by the Company has been noticed or reported during the course of our audit for the year ended December 31, 2007. For Appan & Lokhandwala Associates Chartered Accountants SR Palaniappan Place : Mumbai Partner Dated : June 26, 2008 Membership No.38378