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Apcotex Industries Ltd.

BSE: 523694 | NSE: APCOTEXIND |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE116A01032 | SECTOR: Rubber

BSE Live

Dec 03, 10:15
361.00 1.95 (0.54%)
Volume
AVERAGE VOLUME
5-Day
22,273
10-Day
17,380
30-Day
20,805
3,074
  • Prev. Close

    359.05

  • Open Price

    349.75

  • Bid Price (Qty.)

    361.05 (9)

  • Offer Price (Qty.)

    361.70 (1)

NSE Live

Dec 03, 10:15
361.30 1.55 (0.43%)
Volume
AVERAGE VOLUME
5-Day
77,987
10-Day
96,059
30-Day
136,283
44,252
  • Prev. Close

    359.75

  • Open Price

    356.05

  • Bid Price (Qty.)

    361.30 (159)

  • Offer Price (Qty.)

    361.70 (5)

Annual Report

For Year :
2018 2017 2016 2015 2014 2013 2012 2011 2010

Auditor's Report

1. We have audited the attached Balance Sheet of APCOTEX INDUSTRIES LIMITED as at 31st March 2012, and also the Profit and Loss Account and the Cash Flow statement of the Company for the year ended on that date, annexed thereto. These financial statements are the responsibility of the Company''s 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 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 evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis of our opinion. 3. As required by the Companies (Auditor''s Report) Order, 2003, issued by the Central Government of India in terms of sub-section (4A) of Section 227 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 to the extent applicable. 4. Further to our comments in the Annexure referred to in paragraph 3 above, we state 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 Profit and Loss Account and the Cash flow Statement referred to in this report are in agreement with the books of account. (d) In our opinion, the Balance Sheet, the Profit and Loss Account and the Cash Flow statement dealt with by this report comply with the Accounting Standards referred to in Section 211(3C) of Companies Act, 1956. (e) On the basis of the written representations received from the directors, and taken on record by the Board of Directors, we report that none of the directors is disqualified as on 31st March 2012 from being appointed as a director in terms of clause (g) of sub- section (1) of section 274 of the Companies Act, 1956. (f) In our opinion and as per the information and according to the explanations given to us, the said Accounts, read together with the 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 on 31st March 2012. (ii) In the case of the Profit and Loss Account, of the profit of the Company 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 REFERRED TO IN PARAGRAPH 3 OF THE AUDITORS'' REPORT TO THE MEMBERS OF APCOTEX INDUSTRIES LIMITED FOR THE YEAR ENDED 31st MARCH 2012 1) (a) The Company has maintained proper records showing full particulars including quantitative details and situation of the Fixed Assets. (b) There is a regular program of physical verification, which in our opinion is reasonable, having regard to the size of the Company and the nature of fixed assets. No material discrepancies were notice by the management on such physical verification. (c) The Company has not disposed of substantial part of fixed assets during the year. 2) (a) Inventories have 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 stocks 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 book records were not material and have been properly dealt with in the books of account. 3) (a) The Company has not granted any loans during the year to any parties covered in the register maintained under section 301 of the Companies Act, 1956. In view of clause 4(iii)(a) of the Companies (Auditor''s Report) order, 2003, clause 4(iii)(b, c and d) are not applicable to the Company. (b) The Company has not accepted any loans during the year from the parties covered in the register maintained under section 301 of the Companies Act, 1956. In view of clause 4 (iii)(e) of the Companies (Auditor''s Report) Order, 2003, clauses 4 (iii) (f & g) are not applicable to the Company. 4) In our opinion, and according to the information and explanations given to us, there are adequate internal control systems commensurate with the size of the Company and the nature of its business with regard to the purchase of inventory and fixed assets and with regard to sale of goods and services. We have not observed any major weakness in the internal control system during the course of our audit. 5) (a) According to the information and explaination given to us, the transactions made in pursuance of contracts or agreement that need to be enterend in to the registered maintained under section 301 of Companies Act 1956 have been so entered. (b) In our opinion, and according to the information and explanations given to us, the transactions of purchase of goods, materials or services and sale of goods, materials or services, made in pursuance of contracts or arrangements referred to in (a) above and exceeding the value of Rs 5 lakhs with any party during the year have been made at prices which are reasonable having regard to the prevailing market price at the relevant time. 6) According to the information and explanations given to us, the company has not accepted any deposit from the public, therefore the provisons of clause 4(vi) of the Companies (Auditors Report) order, 2003 are not applicable to the company. 7) In our opinion, the Company has an internal audit system commensurate with the size and nature of its business. 8) As informed to us, the Company maintains the cost records pusruant to the Companies (Cost Accounting Records) Rules, 2011 prescribed by the Central Government under Section 209(1)(d) of the Companies Act, 1956. We have, however, not checked those records or the Statements prepared as per requirements. 9) (a) According to the information and explanations given to us and the records of the company examined by us, in our opinion, the company is generally regular in depositing the undisputed statutory dues including provident fund, investor education and protection fund, employees'' state insurance, income tax, sales tax, wealth tax, customs duty, cess and other material statutory dues as applicable with appropriate authorities. (b) According to the information and explanations given to us, there are no undisputed dues payable in respect of income tax, wealth tax, sales tax, VAT, service tax, custome duty excise duty and cess were outstanding as at 31st March 2012 for the period of more than 6 months from the date they became payable. (c) Following disputed demand aggregating to Rs 315.69 lacs have not been deposited since the matter are pending with the relevant concerned authority. Name of the Nature of Amount Period to Forum where Statute Dues (Rs n which the dispute is pending Lacs) amount relates Income Tax Act Income Tax 3.75 2002-03 CIT(A) Penalty Income Tax Act Tax, 36.53 2005-06 ITAT Interest Income Tax Act Tax, 3.77 2006-07 ITAT Interest Income Tax Act Tax, 108.33 2007-08 CIT(A) Interest Customs Act Custom 140.98 August SUPREME COURT Duty 2000 to & Penalty July 2004 Excise Act Excise Duty 22.33 2002-03 JOINT & Penalty COMMISSIONER 2003-04 CESTAT 2005-06 ASSISTANT COMMISSIONER 2006-07 ASSISTANT COMMISSIONER 2007-08 ASSISTANT COMMISSIONER 10) The Company has no accumulated losses as at 31st March 2012 and it has not incurred any cash losses in the financial year ended on that date or in the immediately preceding financial year. 11) The Company has not defaulted during the year in repayment of dues to any financial institutions, banks or debenture holders. 12) 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) As the Company is not a chit fund, nidhi, mutual benefit fund or society, the provisions of clause 4(xiii) of the Companies (Auditor''s Report) Order, 2003 is not applicable to the Company. 14) The company has maintained proper records of the transactions and contracts in respect of dealing or trading in shares, securities and other investments and timely entries have been made therein. All the shares, securites and other investments have been held by the company in its own name. 15) The Company has not given any guarantees for loans taken by others from Banks or Financial institutions during the year. 16) The Company has taken term loans in foreign currency during the year. These have been applied for the purpose for which they were raised. 17) According to the information and explanations given to us, the Company has not applied short-term borrowings for long-term investment. 18) The Company has not made any preferential allotment of shares during the year. 19) The Company has not issued any debentures during the year. 20) The Company has not raised any money by way of public issue during the year. 21) As per the information and explanation given to us, no fraud on or by the Company has been noticed or reported during the course of our audit. For Shah & Co. Chartered Accountants. Firm registration no. 109430W P N SHAH Partner Membership No. 001738 Mumbai : 10th May,2012