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Aurobindo Pharma Ltd.

BSE: 524804 | NSE: AUROPHARMA |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE406A01037 | SECTOR: Pharmaceuticals

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BSE Live

Feb 28, 15:40
506.30 -12.95 (-2.49%)
Volume
AVERAGE VOLUME
5-Day
476,586
10-Day
425,741
30-Day
263,021
108,502
  • Prev. Close

    519.25

  • Open Price

    516.00

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Feb 28, 15:40
505.50 -14.00 (-2.69%)
Volume
AVERAGE VOLUME
5-Day
10,107,351
10-Day
9,641,680
30-Day
6,331,166
4,557,803
  • Prev. Close

    519.50

  • Open Price

    513.30

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

Annual Report

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

Auditor's Report

ANNUAL REPORT 2005-2006 AUDITORS' REPORT To The Members of Aurobindo Pharma Limited 1. We have audited the attached Balance Sheet of Aurobindo Pharma Limited as at March 31, 2006 and also the Profit & Loss Account and the Cash Flow Statement 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 for our opinion. 3. As required by the Companies (Auditor's Report) Order, 2003 (as amended) 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. 4. Further to our comments in the Annexure referred to 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 purposes of our 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 and proper returns adequate for the purposes of our audit have been received from the branches not visited by us; iii. the Balance Sheet, Profit & Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account and with the returns from the branches; iv. in our opinion, the Balance Sheet, Profit & Loss Account and Cash Flow Statement dealt with by this report comply with the accounting standards referred to in sub-section (3C) of Section 211 of the Companies Act, 1956; v. on the basis of the written representations received from the Directors, as on March 31, 2006, and taken on record by the Board of Directors, we report that none of the Directors is disqualified as on March 31, 2006 from being appointed as a director in terms of clause (g) of subsection (1) of Section 274 of the Companies Act, 1956; vi. without qualifying our opinion, we draw attention to Note 3(g) of Schedule 24 to the financial statements. The management is of the view that the liability to pay premium on redemption is contingent, the ultimate outcome of the matter cannot be presently determined and no provision for any liability that may result in future has been made in the financial statements. vii. we draw attention to the following notes in Schedule 24: a. Non compete fee of Rs.300 million arising in the year 2001-02 pursuant to the transfer of certain business of the Company to a Joint Venture Company (as referred in note 5 of Schedule 24) was directly accounted in the capital reserve instead of being routed through the Profit & Loss Account and accordingly qualified by us in our audit report for the said year. During the current year, write off of the same has been made directly against the capital reserve instead of routing the same through the Profit & Loss Account. This has no impact on the profit for the year. b. no provision has been made for diminution in the value of certain investments referred to in Note 9 b). on Schedule 24, since in the opinion of the management such investments are strategic in nature and such diminution is not other than temporary. We are unable to comment upon the impact, if any, of such diminution on the Accounts. viii. Subject to paragraph vii. above, in our opinion and to the best of our information and according to the explanations given to us, the said accounts 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. a. In the case of the Balance Sheet, of the state of affairs of the Company as at March 31, 2006; b. In the case of the Profit & Loss Account, of the profit for the year ended on that date; and c. In the case of Cash Flow Statement, of the cash flows for the year ended on that date. For S.R. BATLIBOI & CO. Chartered Accountants Per RAHUL ROY Partner Membership No.: 53956 Kolkata, 27 June, 2006 Annexure referred to in paragraph [3] of our report of even date i. a. The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets. b. All fixed 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. As informed, no material discrepancies were noticed on such verification. c. There was no substantial disposal of fixed assets during the year. ii. a. The management has conducted physical verification of inventory at reasonable intervals during the year. 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 inventory and no material discrepancies were noticed on physical verification. iii. a. As informed, the Company has not granted any loans, secured or unsecured to companies, firms or other parties covered in the register maintained under Section 301 of the Companies Act, 1956. Accordingly, the provisions of clauses 4(iii)(b), 4(iii)(c), 4(iii)(d) of the Companies (Auditor's Report) Order 2003 (as amended) are not applicable to the Company. e. As informed, the Company has not taken any loans, secured or unsecured from companies, firms or other parties covered in the register maintained under Section 301 of the Companies Act, 1956. Accordingly, the provisions of clauses 4(iii)(f) and 4(iii)(g) of the Companies (Auditor's Report) Order 2003 (as amended) are not applicable to the Company. iv. In our opinion and according to the information and explanations given to us, there is an adequate internal control system commensurate with the size of the Company and the nature of its business, for the purchase of inventory and fixed assets and for the sale of goods and services. During the course of our audit, no major weakness has been noticed in the internal control system in respect of these areas. v. a. According to the information and explanations provided by the management, we are of the opinion that the particulars of contracts or arrangements referred to in Section 301 of the Companies Act, 1956 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 such contracts or arrangements exceeding value of Rupees five lakhs have been entered into during the financial year at prices which are reasonable having regard to the prevailing market prices at the relevant time. 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 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 accounts and records have been made and maintained. ix. a. Undisputed statutory dues including provident fund, investor education and protection fund, employees' state insurance, income-tax, sales-tax, wealth-tax, service tax, customs duty, excise duty, cess have generally been regularly deposited with the appropriate authorities though there has been a slight delay in a few cases. b. According to the information and explanations given to us, no undisputed amounts payable in respect of provident fund, investor education and protection fund, employees' state insurance, income-tax, wealth-tax, service tax, sales-tax, customs duty, excise duty, cess and other undisputed statutory dues were outstanding, at the year end, for a period of more than six months from the date they became payable except work- contract tax of Rs. 169,220. c. According to the records of the Company, the dues outstanding of income- tax, sales-tax, wealth-tax, service tax, customs duty, excise duty and cess on account of any dispute, are as follows: Name of the Nature of Amount Period to Forum where statute dues (Rs.) which the dispute is amount pending relates Income Tax Tax and 136,940,476 1999-00 to Commissioner of Act, 1961 interest 2002-03 Income Tax (Appeals) Central Excise Duty 5,055,615 1999-00 CEGAT - Chennai Act, 1944 Central Excise Duty 1,023,093 2002-03 Joint Act, 1944 Commissioner - Hyderabad Central Excise Duty 299,948 2003-04 Commissioner - Act, 1944 Hyderabad Central Excise Duty 8,526,214 2004-05 Joint Act, 1944 Commissioner - Hyderabad Central Excise Duty 1,105,552 2004-05 Commissioner - Act, 1944 Hyderabad x. The Company has no accumulated losses at the end of the financial year and it has not incurred cash losses in the current and immediately preceding financial year. xi. Based on our audit procedures and as per the information and explanations given by the management, we are of the opinion that the Company has not defaulted in repayment of dues to a financial institution, bank or debenture holders. xii. According to the information and explanations given to us and based on the documents and records produced to us, the Company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities. xiii. In our opinion, the Company is not a chit fund or a nidhi/mutual benefit fund/society. Therefore, the provisions of clause 4(xiii) of the Companies (Auditor's Report) Order, 2003 (as amended) are not applicable to the Company. xiv. In our opinion, the Company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly, the provisions of clause 4(xiv) of the Companies (Auditor's Report) Order, 2003 (as amended) are not applicable to the Company. xv. According to the information and explanations given to us, the Company has given guarantee for loans taken by others from bank or financial institutions, the terms and conditions whereof in our opinion are not prima-facie prejudicial to the interest of the Company. xvi. Based on information and explanations given to us by the management, term loans were applied for the purpose for which the loans were obtained. xvii. According to the information and explanations given to us and on an overall examination of the Balance Sheet of the Company, we report that no funds raised on short-term basis have been used for long-term investment. xviii. The Company has not made preferential allotment of shares to parties and companies covered in the register maintained under Section 301 of the Companies Act, 1956. xix. Based on books and records produced to us by the management, securities have been created in respect of debentures issued. The Company has unsecured debentures outstanding during the year on which no security or charge is required to be created. xx. We have verified that the end use of money raised by public issues is as disclosed in the notes to the financial statements. xxi. Based upon the audit procedures performed for the purpose of reporting the true and fair view of the financial statements and as per the 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 S.R. BATLIBOI & CO. Chartered Accountants Per RAHUL ROY Partner Membership No.: 53956 Kolkata, 27 June, 2006