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Bata India Ltd.

BSE: 500043 | NSE: BATAINDIA |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE176A01028 | SECTOR: Leather Products

BSE Live

Apr 03, 16:00
1190.00 -0.25 (-0.02%)
Volume
AVERAGE VOLUME
5-Day
29,705
10-Day
44,169
30-Day
34,354
37,888
  • Prev. Close

    1190.25

  • Open Price

    1192.00

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Apr 03, 15:59
1190.75 1.05 (0.09%)
Volume
AVERAGE VOLUME
5-Day
782,358
10-Day
989,192
30-Day
879,657
737,772
  • Prev. Close

    1189.70

  • Open Price

    1201.90

  • Bid Price (Qty.)

    1190.75 (15)

  • Offer Price (Qty.)

    0.00 (0)

Annual Report

For Year :
2019 2018 2017 2016 2015 2013 2012 2011 2010

Auditor's Report

We have audited the accompanying standalone financial statements of Bata India Limited (the Company), which comprises the Balance Sheet as at March 31, 2016, 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 The Company''s Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 (the Act) with respect to the preparation of these standalone financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with accounting principles generally accepted in India, including the Accounting Standards specified under section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial control that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant 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 standalone financial statements based on our audit. We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the Rules made there under. We conducted our audit in accordance with the Standards on Auditing, issued by the Institute of Chartered Accountants of India, as specified under Section 143(10) of the Act. 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 judgment, 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 financial control relevant to the Company''s preparation of the financial statements that give a true and fair view 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 the Company''s Directors, 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 on the standalone financial statements. Opinion In our opinion and to the best of our information and according to the explanations given to us, the standalone 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 of the state of affairs of the Company as at March 31, 2016, its profit, and its 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, 2016 (the Order) issued by the Central Government of India in terms of sub-section (11) of section 143 of the Act, we give in the Annexure 1 a statement on the matters specified in paragraphs 3 and 4 of the Order. 2. As required by section 143 (3) of the Act, we report that: (a) We have sought and 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 it 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 aforesaid standalone financial statements comply with the Accounting Standards specified under section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014; (e) On the basis of written representations received from the directors as on March 31, 2016, and taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2016, from being appointed as a director in terms of section 164 (2) of the Act; (f) With respect to the adequacy of the internal financial controls over financial reporting of the Company and the operating effectiveness of such controls, refer to our separate Report in Annexure 2 to this report; (g) With respect to the other matters to be included in the Auditor''s Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us: i. The Company has disclosed the impact of pending litigations on its financial position in its financial statements - Refer Note 31 to the financial statements; ii. The Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses; iii. There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the Company. Annexure 1 referred to in paragraph 1 under the heading Report on other legal and regulatory requirements of our report of even datetp Re: Bata India Limited (the company) (i)(a) The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets. (i)(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. No material discrepancies were noticed on such verification. (i)(c) According to the information and explanations given by the management, the title deeds of immovable properties included in property, plant and equipment/ fixed assets are held in the name of the company. (ii)(a) The management has conducted physical verification of inventory at reasonable intervals during the year and no material discrepancies were noticed on such physical verification. (iii)(a) According to the information and explanations given to us, the Company has not granted any loans, secured or unsecured to companies, firms, Limited Liability Partnerships or other parties covered in the register maintained under section 189 of the Companies Act, 2013. Accordingly, the provisions of clause 3(iii)(a), (b) and (c) of the Order are not applicable to the Company and hence not commented upon. (iv) In our opinion and according to the information and explanations given to us, there are no loans, investments, guarantees, and securities granted in respect of which provisions of section 185 and 186 of the Companies Act, 2013 are applicable and hence not commented upon. (v) The Company has not accepted any deposits from the public. (vi) To the best of our knowledge and as explained, the Central Government has not specified the maintenance of cost records under Section 148(1) of the Companies Act, 2013, for the products/services of the Company. (vii)(a) The Company is regular in depositing with appropriate authorities undisputed statutory dues including provident fund, employees'' state insurance, income-tax, sales-tax, service tax, customs duty, excise duty, value added tax, cess and other material statutory dues applicable to it. (vii)(b) According to the information and explanations given to us, no undisputed amounts payable in respect of provident fund, employees'' state insurance, income-tax, service tax, sales-tax, custom duty, excise duty, value added tax, 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. (vii)(c) According to the records of the Company, the dues outstanding of income-tax, sales-tax, , service tax, custom duty, excise duty, value added tax and cess on account of any dispute, are as follows: Amount Name of the statute Nature of the dues (Rs million ) Various State Sales Purchase tax dispute at 8.2 Tax Acts Faridabad Revenue Recovery against Various State Sales non-payment of demand in 6.7 Tax Acts assessment Tax in dispute u/s 92 of Central Various State Sales Sales Tax act regarding non 2.8 Tax Acts submission of forms. Karnataka Sales Tax Unclaimed input tax credit 4.1 Act adjusted against VAT Various State Sales Misclassification of Article for 9.7 Tax Acts VAT payment Central Excise Excise duty demand on closing 1.5 Act,1944 balance of exempted footwear Duty demanded for sale of footwear at domestic tariff 7.0 Cental Excise before Act,1944 commissioner concluded and order is pending. Disallowance for trade discount Central Excise for sale of footwear to retail 2.8 Act,1944 outlet. Excise duty demanded for Central Excise movement of raw material to 15.5 Act,1944 job worker without payment of duty. Disallowing abatement 40% Central Excise on MRP for institutional sales. 9.0 Act,1944 Sale of Industrial Boots and Mine Safety Boots. Non-compliance of the condition of the notification Central Excise for marking MRP on factory 21.5 Act,1944 seconds cleared on payment of appropriate C.E. duty, Exclusion of Sales tax @8% for Central Excise payment of an amount equal to Act,1944 8%/10% on exempted footwear 3.0 as per CCR 6(3)(b) Disallowance of service tax input credit on input Finance Act, 1994 4.3 service availed for outward transportation Duty Demand on account of short levy of customs duty Customs Act,1942 (anti-dumping duty) for which 10.8 hearing before commissioner concluded and order received Name of the Statute Period to which the Forum where the amount relates dispute is pending Various State Sales Tax Acts 1984-1985 Supreme Court Various State Sales Tax Acts 1994-1995 1998-1999 STAT, Kerala 2000-2001 Various State Sales -1991-1992 High court, UP Tax Acts 2005-2006 to Joint Commissioner''s Karnataka Sales Tax Act 2008-2009 Appeal Various State Sales Tax Acts 2005-06 to 2006-07 VAT for tribunal, Kerala Central Excise 1987-88 CESTAT- Kolkata Act,1944 Commissioner of Central Central Excise 1997-99 Excise, Chennai Act,1944 Central Excise 1995-97 CESTAT-Chennai Act,1944 Central Excise 2004 -05 to Act,1944 2005-06 CESTAT-Kolkata Central Excise 2007 Act,1944 2008 CESTAT-Kolkata 2009 2010 Central Excise Act,1944 July 2004 to CESTAT- Kolkata Jan 2008 Central Excise Act,1944 August 2004 to CESTAT- Kolkata Jan 2008 Finance Act,1994 2006-2010 Commissioner of Central Excise, Kolkata Customs Act,1942 2001 CESTAT - Kolkata Finance Act,1994 April 2008 to may CESTAT- Chennai 2012 Customs Act,1942 1998-2003 CESTAT- Kolkata Income Tax act,1961 2007-2008 High court, Kolkata Income tax Act,1961 AY 2008-2009 to Commissioner of Income AY 2011-2012 Tax (Appeal) (viii) The Company has neither taken any loan from financial institution or bank nor issued any debentures, therefore the provision of clause (viii) of the Order is not applicable, hence not commented upon. (ix) According to the information and explanations given by the management, the Company has not raised any money by way of initial public offer / further public offer / debt instruments and term loans hence, reporting under clause (ix) of the Order is not applicable to the Company and hence not commented upon. (x) Based upon the audit procedures performed for the purpose of reporting the true and fair view of the financial statements and according to the information and explanations given by the management, we report that no fraud by the company or no material fraud on the company by the officers and employees of the Company has been noticed or reported during the year. (xi) According to the information and explanations given by the management, the managerial remuneration has been paid / provided in accordance with the requisite approvals mandated by the provisions of section 197 read with Schedule V to the Companies Act, 2013. (xii) In our opinion, the Company is not a nidhi company. Therefore, the provisions of clause 3(xii) of the Order are not applicable to the Company and hence not commented upon. (xiii) According to the information and explanations given by the management, transactions with the related parties are in compliance with section 177 and 188 of Companies Act, 2013 where applicable and the details have been disclosed in the notes to the financial statements, as required by the applicable accounting standards. (xiv) According to the information and explanations given to us and on an overall examination of the balance sheet, the Company has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during the year under review and hence, reporting requirements under clause 3(xiv) are not applicable to the Company and, not commented upon. (xv) According to the information and explanations given by the management, the Company has not entered into any non-cash transactions with directors or persons connected with him. (xvi) According to the information and explanations given to us, the provisions of section 45-IA of the Reserve Bank of India Act, 1934 are not applicable to the Company. For S.R. Batliboi & Co. LLP Chartered Accountants ICAI Firm Registration Number: 301003E / E300005 per Sanjay Vij Partner Place : Gurgaon Membership Number: 95169 Date : May 30, 2016