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EID Parry (India) Ltd.

BSE: 500125 | NSE: EIDPARRY |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE126A01031 | SECTOR: Sugar

BSE Live

Oct 22, 16:00
475.00 -4.00 (-0.84%)
Volume
AVERAGE VOLUME
5-Day
30,881
10-Day
53,050
30-Day
42,145
34,479
  • Prev. Close

    479.00

  • Open Price

    482.10

  • Bid Price (Qty.)

    469.85 (75)

  • Offer Price (Qty.)

    480.00 (2)

NSE Live

Oct 22, 15:59
470.00 -8.70 (-1.82%)
Volume
AVERAGE VOLUME
5-Day
441,307
10-Day
728,683
30-Day
470,081
252,247
  • Prev. Close

    478.70

  • Open Price

    483.00

  • Bid Price (Qty.)

    470.00 (50)

  • Offer Price (Qty.)

    0.00 (0)

Annual Report

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

Auditor's Report

1. We have audited the attached Balance Sheet of E.I.D.- Parry (India) Limited as at 31st March 2009 the Profit and Loss Account and also the Cash Flow Statement for the year ended on that date annexed thereto. These financial statements are the responsibility of the Companys management. Our responsibility is to express an opinion on these financial statements based on our audit. 2. We conducted our audit in accordance with the 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 (Auditors Report) Order, 2003 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 in Paragraph 3 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, Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account; (iv) In our opinion, the Balance Sheet, Profit and 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 written representations received from the directors and taken on record by the Board of Directors, we report that none of the directors is disqualified as on 31st March 2009 from being appointed as a director in terms of clause (g) of sub- section (1) of Section 274 of the Companies Act, 1956 as on the said date; (vi) In our opinion and to the best of our information and according to the explanations given to us, the said accounts, read with the significant accounting policies and notes thereon, 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 31 st March, 2009; (b) in the case of the Profit and Loss Account, 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. Annexure referred to in Paragraph 3 of our report of even date 1. In respect of fixed assets: (a) The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets. (b) The fixed assets have been physically verified by the management during the year and in accordance with a programme of verification which, in our opinion, is reasonable having regard to the size of the Company and the nature of its assets. According to the information and explanations given to us, no material discrepancies were noticed on such verification. (c) The fixed assets disposed off during the year, in our opinion, do not constitute a substantial part of the fixed assets of the company and such disposals has, in our opinion not affected the going concern status of the company. 2. In respect of its inventories: (a) As explained to us, inventories were physically verified by the management at reasonable intervals. (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 were reasonable and adequate in relation to the size of the Company and the nature of its business. (c) In our opinion and according to the information and explanations given to us, the Company has maintained proper records of its inventory. The discrepancies noticed on physical verification between physical stock and book records were not material. 3. (a) According to the information and explanations given to us, 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. (b) According to the information and explanations given to us, 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. 4. In our opinion and according to the information and explanations given to us, there is adequate internal control system commensurate with the size of the Company and nature of its business with regard to the purchase of inventory and fixed assets and for the sale of goods. During the course of our audit, we have not observed any continuing failure to correct major weaknesses in internal controls. 5. In respect of contracts or arrangements referred to in Section 301 of the Companies Act, 1956: (a) According to the information and explanations given to us, the particulars of contracts or arrangements that needed to be entered into the register 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 and exceeding the value of Rs.5,00,000 in respect of any party during the year, have been made at prices which are prima facie reasonable having regard to prevailing market prices at the relevant time. 6. In our opinion and according to the information and explanations given to us, the Company has not accepted deposits from the public during the year covered by our audit report. In respect of unclaimed deposits matured in earlier years that are outstanding during the year, the Company has complied with the provisions of Sections 58A, 58AA or any other relevant provisions of the Companies Act, 1956 and the Companies (Acceptance of Deposits) Rules, 1975. 7. In our opinion, the Company has an internal audit system commensurate with the size and nature of its business. 8. We have broadly reviewed the cost records maintained by the Company in respect of products where pursuant to the Rules made by the Central Government, the maintenance of cost records has been prescribed 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. We have, however, not made a detailed examination of the records with a view to determining whether they are accurate or complete. 9. Statutory and other dues (a) According to the information and explanations given to us, the Company has been regular in depositing undisputed statutory dues including Provident Fund, Employees State Insurance, Income Tax, Sales Tax, Customs Duty, Wealth tax, Service Tax, Excise Duty, Cess and other material statutory dues with the appropriate authorities during the year. (b) According to the information and explanations given to us, no undisputed amounts payable in respect of Provident Fund, Employees State Insurance, Income Tax, Sales Tax, Customs Duty, Wealth Tax, Service Tax, Excise Duty and Cess were in arrears, as at 31 st March 2009 for a period of more than six months from the date they became payable. (c) According to the information and explanations given to us, the details of Name of the Nature of Dues Rs Lakhs Rs Lakhs Statute 2009 2008 Central Excise Act, 1944 Excise Duty 320 1389 Finance Act, 1994 (Service Tax) Service Tax dues 27 33 Various States Sales Sales Tax - Local 114 175 Tax Acts Central Sales Tax Act, Sales Tax CST 72 39 1956 Tamil Nadu General TNGSTAct 233 12 Sales Tax, Act 1959 Income Tax Act, 1961 Income Tax 1176 97 Forum where the dispute Period to which is pending the dues belong Assistant Commissioner/ Deputy Assessment Year Commissioner, Commissioner, 2002-03 to 2007-08 CESTAT, High Court Commissioner (Appeals) Assessment Year 2002-03 to 2006-07 Assistant Commissioner/ Assessment Year Deputy Commissioner/Tribunal 1981 -82 and 1999-00 to 2005-06 Assistant Commissioner /Deputy Assessment Year Commissioner, Tribunal, High Court 1999-00 to 2005-06 Assistant Commissioner /Deputy Assessment Year Commissioner, Tribunal, High Court 2001-02 to 2002-03 Income Tax Appellate Tribunal/ Assessment Year High Court/CIT Appeals 2003-04 to 2006-07 10. The Company does not have any accumulated losses at the end of the year. The Company has not incurred cash losses during the current and immediately preceding financial year. 11. According to the information and explanations given to us by the management, we are of the opinion that the Company has not defaulted in repayment of dues to banks.The Company has not taken any loans from financial institutions or issued any debentures during the year. 12. According to the information and explanations given to us and based on our examination of documents and records, we are of the opinion that no loans or advances have been granted by the Company 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 (Auditors Report) Order, 2003 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 (xiv) of the Companies (Auditors Report) Order, 2003 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 during the year. The Company has not taken any loans from financial institutions or issued any debentures during the year. disputed Income Tax, Sales Tax, Customs Duty, Wealth Tax, Service Tax, Excise Duty and Cess that have not been deposited as on 31st March 2009 on account of any dispute are given below: 16. In our opinion and according to the information and explanations given to us, the term loans availed by the Company were, prima facie, applied by the Company during the year for the purposes 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, funds raised on short term basis have prima facie, not been used for long term investment. 18. According to the information and explanations given to us, the Company has not made preferential allotment of shares to parties and companies covered in the register maintained under Section 301 of the Act. 19. The Company has not issued debentures during the year. 20. The Company has not raised any money by public issues during the year. 21. To the best of our knowledge and belief and according to the information and explanations given to us, no material fraud on or by the Company was noticed or reported during the year. For DELOITTE HASKINS & SELLS Chartered Accountants Geetha Suryanarayanan Place : Chennai Partner Date : April 30, 2009 Membership No.29519