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Life Insurance Corporation of India

Moneycontrol

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Associate Partners:

  • Kotak Mutual Fund
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  • State Bank of India
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Presenting Partner

Life Insurance Corporation of India

Moneycontrol

Budget 2022

Technology Partner

Dell Technologies

Associate Partners

Kotak Mutual Fund
Pharmeasy
Indiabulls
State Bank of India
CoinSwitch Kuber
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Chromatic India Ltd.

BSE: 530191 | NSE: CHROMATIC | Series: NA | ISIN: INE662C01015 | SECTOR: Dyes & Pigments

BSE Live

Dec 13, 16:00
0.99 0.00 (0.00%)
Volume
AVERAGE VOLUME
5-Day
298,910
10-Day
196,189
30-Day
82,980
594,984
  • Prev. Close

    0.99

  • Open Price

    0.97

  • Bid Price (Qty.)

    0.99 (23705)

  • Offer Price (Qty.)

    0.00 (0)

Chromatic India is not traded on BSE in the last 30 days

NSE Live

Aug 30, 15:31
0.90 0.00 (0.00%)
Volume
No Data Available
45,988
  • Prev. Close

    0.90

  • Open Price

    0.90

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

Chromatic India is not traded on NSE in the last 30 days

Annual Report

For Year :
2015 2014 2013 2012 2011 2010 2009 2008 2007

Auditor's Report

We have audited the accompanying financial statements of Chromatic India Limited (the Company), which comprise the Balance Sheet as at March 31, 2014, and 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 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) read with the General Circular 15/2013 dated 13th September, 2013 of the Ministry of Corporate Affairs in respect of Section 133 of the Companies Act; 2013 and in accordance with the accounting principles generrally accepted in India. This responsibility includes the design, implementation and maintenance of internal control 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 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 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 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, but not for the purpose of expressing an opinion on the effectiveness of the Company''s internal control. 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 aforsaid financial statements, subject to note nos. 27, 28, 29, 30 & 34 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 March 31, 2014; (b) In the case of the Profit and Loss Account, of the Profit of the company for the year ended on that date and (c) In the case of the Cash Flow Statement, of the cash flows of the company 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 & 5 of the Order. 2. As required by 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 by law have been kept by the Company so far as appears from our examination of those books c) The Balance Sheet and 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 and Statement of Profit and Loss, and Cash Flow Statement comply with the Accounting Standards referred to in subsection (3C) of section 211 of the Companies Act, 1956 read with the General Circular 15/2013 dated 13th September, 2013 of the Ministry of Corporate Affairs in respect of Section 133 of the Companies Act, 2013. e) On the basis of written representations received from the directors as on March 31, 2014, and taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2014, from being appointed as a director in terms of Section 274(1)(g) of the Companies Act, 1956. Annexure to Auditors'' Report [Referred to in paragraph 1 under the heading of report on other legal and regulatory requirements of our report of even date to the members of Chromatic India Limited on the financial statements for the year ended March 31, 2014] 1. In respect of its Fixed Assets: a) The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets on the basis of available information. b) As explained to us, all the fixed assets have been physically verified by the management in a phased periodical manner, 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. 2. In respect of Inventories: a) The inventories have been physically verified by the management during the year. In our Opinion, the frequency of verification is reasonable. b) In our opinion and according to the information and explanations given to us, the procedures of physical verification of inventories 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. As explained to us, there were no material discrepancies noticed on physical verification of inventories as compared to the book records. r. 3. In respect of the Loans, secured or unsecured, granted or taken, by the company to/ from companies, firms or other parties covered in the register maintained under section 301 of the Companies Act; 1956: a) There are two subsidiary companies to whom the Company has granted loans, secured or unsecured. The total amount involved is Rs. 21617.47 Lacs. b) Loans given to subsidiaries are interest free loans and the same is not considered as prejudicial in view of the fact that the companies are wholly owned subsidiaries. c) As per the management, the parties will pay principal amounts as and when demanded. d) There is no overdue amount of loan granted to said companies. e) The company has taken short term loan from one company covered in register maintained under section 301 of the Companies Act, 1956 from whom the Company has taken loans, secured or unsecured. The amount involed is Rs. 48.86 Lacs. The loan is repayble on demand. The loan is interest free and not prejudicial to the interest of the company. 4. In our opinion and according to the information and explanations given to us, there exists an adequate internal control system commensurate with the size of the company and the nature of its business with regard to purchase of inventory, fixed assets and with regard to 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. During the course of our audit, we have not observed any continuing failure to correct major weakness in internal control system of the company. 5. In respect of the contracts or arrangements referred to in section 301 of the Companies Act; 1956: 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 have been so entered. b) None of the transactions made in pursuance of any contracts or arrangements exceed the value of Rupees five lakh in respect of any such party in the financial year. 6. According to the information and explanations given to us, the company has not accepted any deposits from the public within the meaning of sections 58A and 58AA of the Act and the rules framed there under. Therefore, the provisions of clause (vi) of paragraph 4 of the order 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. The Company is required to maintain the cost records as prescribed by the Central Government of India under clause (d) of sub-section (1) of section 209 of the act for the activities carried on by the company. We are of the opinion that primafacie the prescribed records have been maintained. We have, however, not made a detailed examination of cost records with a view to determine whether they are accurate or complete. 9. In respect of statutory dues: a) Undisputed statutory dues including provident fund, investor education and protection fund, Employees'' state insurance, income-tax, sales-tax, wealth-tax, customs duty, excise duty, have not been regularly deposited with the appropriate authorities and there have been slight delays in 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, wealth-tax, sales-tax, customs duty, excise duty 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 an amount of Rs. 20,79,000/- on account of Income Tax for the A.Y. 2012-13 for which return is also not filed, Rs. 2,30,510/- on account of Dividend Distribution Tax for the F.Y. 2012- 13 and interest thereon. 10. The Company''s accumulated losses at the end of the financial year are less than fifty per Cent of its net worth and it has not incurred cash losses in the current and immediately preceding financial year. 11. 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 banks. 12. 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 13. 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. 14. 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. 15. In our opinion and according to the information and explanations given to us, the Company has not given any guarantee for loans taken by others from banks or financial institutions. 16. The term loans have been applied for the purpose for which the loans were obtained. 17. 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. 18. The company has not made any preferential allotment of shares to parties and Companies covered in the register maintained under section 301 of the Companies Act, 1956. 19. The Company did not have any outstanding debentures during the year. 20. The company has not raised any monies by way of public issues during the year. 21. 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 year. For S. K. Badjatya & Co. Chartered Accountants Firm Registration No. 004017C CA. Sudhir K. Jain Place: Mumbai Partner Date: May 30, 2014 Membership No. 072282