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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 17, 16:00
493.35 -21.10 (-4.10%)
Volume
AVERAGE VOLUME
5-Day
207,033
10-Day
255,272
30-Day
161,204
272,960
  • Prev. Close

    514.45

  • Open Price

    517.00

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Feb 17, 15:57
493.60 -20.75 (-4.03%)
Volume
AVERAGE VOLUME
5-Day
4,498,834
10-Day
5,356,767
30-Day
4,030,860
3,731,164
  • Prev. Close

    514.35

  • Open Price

    515.05

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    493.60 (89)

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 Aurobindo Pharma Limited (''the Company'') as at March 31, 2012 and also the Statement of Profit and Loss 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. Without qualifying our opinion, we draw attention to Note 43 of financial statements, regarding excess managerial remuneration amounting to Rs25,086,424 paid to four Directors in excess of limits prescribed under Schedule XIII of the Companies Act, 1956. As represented to us by the management, the Company is in the process of applying to the Central Government for the approval of such excess remuneration. The ultimate outcome of the above matters cannot presently be determined, accordingly no adjustments has been made in the financial statements. 5. 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; iii. the Balance Sheet, Statement of Profit and Loss and Cash Flow Statement dealt with by this report are in agreement with the books of account; iv. in our opinion, the Balance Sheet, Statement of Profit and Loss 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, 2012, and taken on record by the Board of Directors, we report that none of the Directors is disqualified as on March 31, 2012 from being appointed as a director in terms of clause (g) of sub- section (1) of Section 274 of the Companies Act, 1956; vi. In our opinion and to the best of our information and according to the explanations given to us, they 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, 2012; b. in the case of the Statement of Profit and Loss, of the loss 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. Annexure referred to in paragraph 3 of our report of even date Re: Aurobindo Pharma Limited 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 program 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)(a) to (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)(e) to (g) of the Companies (Auditors'' 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, we have not observed any major weakness or continuing failure to correct any major weakness in the internal control system of the Company 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 Act that need to be entered into the register maintained under Section 301 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 of the Company 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 and other material statutory dues 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 material statutory dues were outstanding, at the year end, for a period of more than six months from the date they became payable. c. According to the records of the Company, there are no dues outstanding of income-tax, sales-tax, wealth-tax, service tax, customs duty, excise duty and cess on account of any dispute, other than service tax, customs duty and excise duty which are follows: Name of the statute Nature of dues Amount Period to which the Forum where dispute is Rs. amount relates pending Central Excise and Customs duty 42,621,459* 2002-03, 2003-04, CESTAT Customs Act, 1944 and penalty 2004-05, 2005-06 Excise duty 18,604,080 2006-07, 2007-08, CESTAT 2008-09 Excise duty 14,606,598** 2005-06 Commis sioner of Central Excise Excise duty 9,224,104 2007-08, 2008-09, Commis sioner of and penalty 2009-10, 2010-11 Central Excise Interest 8,825,256 2006-07, 2007-08, Commis sioner of 2008-09, 2009-10 Central Excise Excise duty 6,401,211 2005-06, 2006-07, Additional Commissioner 2007-08, 2008-09, of Central Excise 2009-10, 2010-11 Excise duty 1,303,500 2007-08 Assistant Commissioner Appeals Interest 439,770 2007-08 Joint Commis sioner of Central Excise Excise duty 197,065 2006-07, 2007-08, Assistant Commissioner 2008-09, 2009-10 of Central Excise Interest 131,555 2009-10 Additional Commissioner of Central Excise Finance Act, 1994 Service Tax 3,242,003 2004-05 Assistant Commissioner of Central Excise Service Tax 64,685 2006-07 CESTAT Service Tax 1,524,348 2006-07 CESTAT * Stay granted ** Amount paid under protest Rs14,187,883 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 any guarantee for loans taken by others from banks, the terms and conditions whereof, in our opinion, are not prima-facie prejudicial to the interest of the Company. According to the information and explanations given to us, the Company has not given any guarantee for loans taken by others from financial institutions. 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 any preferential allotment of shares to parties or companies 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 way of public issue during the year. 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 & ASSOCIATES Firm Registration Number: 101049W Chartered .Accountants per VIKAS KUMAR PANSARI Partner Membership No. 93649 Hyderabad, May 29, 2012.