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AVT Natural Products Ltd.

BSE: 519105 | NSE: AVTNPL |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE488D01021 | SECTOR: Edible Oils & Solvent Extraction

BSE Live

Jan 21, 16:00
84.90 1.55 (1.86%)
Volume
AVERAGE VOLUME
5-Day
14,718
10-Day
18,609
30-Day
17,205
8,066
  • Prev. Close

    83.35

  • Open Price

    88.95

  • Bid Price (Qty.)

    83.00 (3)

  • Offer Price (Qty.)

    84.90 (36)

NSE Live

Jan 21, 15:55
84.95 1.20 (1.43%)
Volume
AVERAGE VOLUME
5-Day
154,596
10-Day
199,268
30-Day
168,570
177,722
  • Prev. Close

    83.75

  • Open Price

    83.10

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

Annual Report

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

Auditor's Report

Report on the Financial Statements We have audited the accompanying financial statements of AVT NATURAL PRODUCTS LIMITED, (the Company) which comprise the Balance Sheet as at 31st March 2013, the Statement of Profit and Loss and Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information. Management''s Responsibility for the Financial Statements Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the Accounting Standards referred to in sub-section (3C) of Section 211 of the Companies Act, 1956 (the Act). This responsibility includes the design, implementation and maintenance of internal control relevent to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error. Auditor''s Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor''s judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company''s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion and to the best of our information and according to the explanations given to us, the financial statements give the information required by the Act 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 31st March 2013; (b) in the case of the Statement of Profit and Loss, 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. Report on Other Legal and Regulatory Requirements 1. As required by the Companies (Auditor''s Report) Order, 2003 (the Order) issued by the Central Government of India in terms of sub-section (4A) of Section 227 of the Act, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the Order. 2. As required bv Section 227(3) of the Act, 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 purpose of our audit; b. in our opinion proper books of account as required bv law have been kept by the Company so far as appears from our examination of those books; c. 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; d. in our opinion, the Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement comply with the Accounting Standards referred to in sub-section (3C) of Section 211 of the Companies Act, 1956; e. on the basis of written representations received from the Directors as on 31st March 2013, and taken on record by the Board of Directors, none of the Directors is disqualified as on 31st March 2013 from being appointed as a Director in terms of clause (g) of sub-section (1) of Section 274 of the Companies Act, 1956. f. Since the Central Government has not issued any notification as to the rate at which the cess is to be paid under Section 441A of the Companies Act, 1956 nor has it issued any Rules under the said section, prescribing the manner in which such cess is to be paid, no cess is due and payable by the Company ANNEXURE TO THE REPORT OF THE AUDITORS TO THE MEMBERS OF AVT NATURAL PRODUCTS LIMITED, CHENNAI i) a) The Company has maintained proper records showing full particulars, including quantitative details and situation of I''ixed Assets. b) Physical verification of major items of these assets has been conducted by the Management at the financial year and no material discrepancies were noticed on such verification. c) No substantial part of fixed assets of the company has been disposed off during the year. ii) a) Physical verification of inventory has been conducted by the Management at reasonable intervals. 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 has maintained proper records of inventory and no material discrepancies have been noticed on physical verification of inventory as compared to book records. iii) a) 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 and hence the clauses (iii) (a), (b), (c) & (d) of the Order are not applicable. b) 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 and hence the clauses (iii) (e), (f) & (g) of the Order are not applicable. iv) The Company has adequate internal control system commensurate with the size of the Company and the nature of its business for the purchase of inventory, fixed assets and for the sale of goods and services. v) a) The particulars of contracts or arrangements referred to in section 301 of the Act have been entered in the register required to be maintained under that section. 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 Act and exceeding the value of five lakh rupees 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) The Company has complied with the directives issued by the Reserve Bank of India and the provisions of Section 58A and 58AA or other provisions of the Companies Act, 1956 and the Companies (Acceptance of Deposits) Rules, 1975 with regard to the deposits accepted from the public. vii) The Company has an Internal Audit system commensurate with its size and nature of its business. viii) We have broadly reviewed the books of account relating to materials, labour and other items of cost 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 we are of the opinion that prima facie the prescribed accounts and records have been made and maintained. ix) a) The company is regular in depositing with appropriate authorities undisputed statutory dues including provident fund, employees'' state insurance, income-tax, sales-tax, wealth-tax, service-tax, customs duty, excise-duty, cess and other statutory dues applicable to it. No undisputed statutory dues were outstanding as at the last day of the financial year for a period of more than six months from the date they became payable. b) The details of disputed statutory dues which have not been deposited are as under: Name Nature Amount Forum where of of (Rs*) dispute is the Statute the dues pending Andhra APGST 79,94,313 Sales Tax Pradesh 1999-00 to Appellate General 2004-05 Tribunal Sales Tax Act Kerala KG ST 2000-01 939 Deputy General Sales to 2004-05 Commissioner Tax Act (Appeals) Karnataka KST 2006/07 27,516 Joint Sales lax Act Commissioner (Appeals) Service Tax Service Tax tor 5,41,50,00 CliS''l''AT, Act 2005-2009 Bangalore x) The Company has no accumulated losses. The Company has not incurred any cash loss in the current financial year or in the immediately preceding financial year. xi) The Company has not defaulted in repayment of dues to banks. xii) The Company has not granted any loans and advances on the basis of security byway of pledge of shares, debentures and other securities. xiii) The Company is not a Chit Fund or a Nidhi / Mutual Benefit Fund / Society. xiv) The Company is not dealing or trading in shares, securities, debentures or other investments. xv) The Company has not given any guarantee for loans taken bv others from bank or financial institutions. xvi) The Company has not availed any term loans. xvii) According to the information and explanations given to us, 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 during the year. xix) The Company has not issued any debentures. xx) The Company has not raised any money by public issues during the year. xxi) According to the information and explanations given to us, no fraud on or by the company has been noticed or reported during the year. For SURI & CO., Chartered Accountants Firm''s Regn. No. : 004283S S. Ganesan Place : Chennai Partner Date : 30th May 2013 Membership No. 18525