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Emami Ltd.

BSE: 531162 | NSE: EMAMILTD |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE548C01032 | SECTOR: Personal Care

BSE Live

Sep 27, 16:00
590.00 2.90 (0.49%)
Volume
AVERAGE VOLUME
5-Day
38,739
10-Day
29,737
30-Day
127,105
131,243
  • Prev. Close

    587.10

  • Open Price

    587.30

  • Bid Price (Qty.)

    585.00 (101)

  • Offer Price (Qty.)

    595.00 (31)

NSE Live

Sep 27, 15:59
589.20 3.90 (0.67%)
Volume
AVERAGE VOLUME
5-Day
402,041
10-Day
457,280
30-Day
503,501
278,528
  • Prev. Close

    585.30

  • Open Price

    592.00

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    589.20 (1777)

Annual Report

For Year :
2019 2017 2016 2015 2014 2013 2012 2011 2010

Auditor's Report

We have audited the Balance Sheet of Emami Limited as at March 31, 2010 and also the Profit & Loss Account and 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. 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. 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. We further report that: a) The accounts of Units at Pantnagar, Masat, Dongri and Vapi have been audited by the Unit Auditors and their reports have been considered by us in preparing our report. b) 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. c) In our opinion proper books of accounts as required by law have been kept by the company so far as appears from our examination of such books. d) The Balance Sheet, Profit & Loss Account & Cash Flow Statement referred to in this report are in agreement with the books of accounts and comply with the accounting standards referred to in Section 211(3C) of the Companies Act, 1956 to the extent applicable. e) 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 March 31, 2010 from being appointed as a director in terms of Section 274 (1) (g) of the Companies Act, 1956. f) As stated in Note B-20 of Schedule 17, based on experts report, useful life of goodwill has been reviewed leading to the increase in the amount of amortisation of goodwill. g) In our opinion and to the best of our information and according to the explanations given to us, the said accounts, read with notes on accounts as per schedule 17 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: i. In the case of Balance Sheet of the State of Affairs of the Company as on March 31, 2010; ii. In the case of the Profit & Loss Account of the Profit for the year ended on that date; and iii. In the case of Cash Flow Statement,of the Cash Flows for the year ended on that date. As required by the Companies (Auditors Report) Order, 2003 issued by the Central Government and on the basis of such checks as we considered appropriate and according to the information and explanations given to us, we further report that: 1) a) The Company has maintained proper records showing full particulars including quantitative details and situation of Fixed Assets. b) The fixed assets were physically verified during the year by the management in accordance with a program of verification, covering all fixed assets over a period of three years, which in our opinion provides for physical verification of all the fixed assets at reasonable intervals. According to the information and explanations given to us, no material discrepancies were noticed on such verification. c) Fixed assets disposed of during the year were not substantial and therefore, do not affect the going concern assumption. 2) a) As explained to us, inventories were physically verified during the year 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 are reasonable and adequate in relation to the size of the Company and 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 noted on physical verification of stocks as compared to book records were not significant and the same has been properly dealt with in the books of accounts. 3) a) The Company has granted unsecured loans to two parties covered in the register maintained under section 301 of the Companies Act, 1956. The maximum amount outstanding amounts to Rs.21436.54 Lacs and the year end balance is Rs.1695.62 Lacs. b) The company has not taken unsecured loans from any company covered in the register maintained under section 301 of the Companies Act, 1956. c) The rate of interest and other terms and conditions in respect of above loans are prima facie not prejudicial to the interest of company. d) The payment of the principal amount and interest are also regular. 4) In our opinion and according to the information and explanations given to us, there are adequate internal control procedures 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. We have not observed any continuing failure to correct major weaknesses in the internal control system. 5) a) According to the information and explanations given to us, particulars of contracts or agreements that needed to be entered into the register maintained under section 301 of the Companies Act, 1956, have been so entered. b) According to the information and explanations given to us, the company has not entered into any transactions in pursuance of such contracts or arrangements aggregating during the year to Rs 5,00,000 or more in respect of each party listed in the register maintained under section 301 of the Companies Act, 1956 for purchase of goods, materials and sales of goods. 6) The Company has not accepted any deposits as defined under section 58A & 58AA or other relevant provisions of the Companies Act, 1956. 7) In our opinion, the Company has an adequate internal audit system commensurate with the size and nature of its business. 8) We have broadly reviewed the books of account maintained by the Company pursuant to the rules prescribed by the Central Government for 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. 9) According to the information and explanations given to us in respect of statutory and other dues: a) The company has been generally regular in depositing 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 with the appropriate authorities during the year. According to the information and explanations given to us, there were undisputed amount payable in respect of these statutory dues which have remained outstanding as at March 31, 2010 for the period of more than six months from the date they became payable are mentioned below: Name of the Statute Nature of Dues Amount (Rs. in Lacs) Maharashtra Value Added Tax, 2002 Value added Tax 0.22 The Central Sales Tax Act, 1956 Central Sale 0.02 Tax 0.06 Name of the Statute Period to it Due Date Date of relates Payment Maharashtra Value Added Tax, 2002 21.05.2009 The Central Sales Tax Act, 1956 2009-10 21.04.2009 27.05.2010 21.06.2009 b) Contingent dues on account of Sales Tax, Income Tax, Customs Duty, Wealth Tax, Service Tax, Excise Duty, Cess disputed by the company and not being paid vis--vis forums where such disputes are pending are mentioned below: Name of the Nature of Dues Amount under dispute Statute not yet deposited Rs. in Lacs Central Sales Sales tax including 3.54 Tax and State penalty as applicable 8.26 Sales Tax 14.27 181.36 0.81 183.64 101.79 85.63 3.00 80.72 3.36 14.91 104.43 Name of the Financial Year to Forum where the Statute which the amount dispute is pending relates Central Sales 2004-05 Revisional Board Tax and State 2006-07 Additional Commissioner Sales Tax 2005-06 ADC 2000-2001 to 2005-06 Board of revenue 1999-2000 High Court 2005-06 and 2006-07 1993-94 to 1996-97 2001-2002 JC 2002-2003 JC (A) 1998-99, 2005-06 to 2006-07 and 2008-09 DC (A) 2004-2005 DC 1996-1997 to 2000-01 DC 1999-2000 to 2005-2006 Tribunal Name of the Nature of Dues Amount under dispute Statute not yet deposited Rs. in Lacs Excise duty Excise Duty including 4.83 penalty as applicable 68.85 9.40 462.51 Service Tax Service Tax including 5.13 penalty as applicable 30.78 122.92 Entry Tax Entry Tax 9.28 223.13 Name of the Financial Year to I Forum where the Statute which the amount dispute is pending relates Excise duty 1983-84 to 1990-91 Assistant Commissioner of Central Excis 1981-82 to 1986-87, Deputy Commissioner 1989-90 of Excise 2002-03 to 2004-05 Commissioner (A) 2004-05 to 2007-08 Joint Commissioner (Excise and Customs) Service Tax 2005-06 CESTAT 2004-05 to 2007-08 Joint Commissioner (CBEC) 2008-09 to 2009-10 Commissioner Divisional range Entry Tax 2001-02 Board of Revenue 2006-07 to 2009-10 Supreme Court 10) The Company does not have accumulated losses as at the end of the year and the company has not incurred cash losses during the current and the immediately preceding financial year. 11) Based on our audit procedures and on the basis of information and explanations given by the management, we are of the opinion that the company has not defaulted in the repayment of dues to financial institution and banks. 12) According to the information and explanations given 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) According to the information and explanations given to us, the Company is not dealing or trading in shares, securities, debentures and other investments. 14) According to the information given to us, the company has given guarantees for loan taken by others from a Bank. As explained the terms and conditions thereof are not prejudicial to the interest of the company. 15) To the best of our knowledge and belief and according to the information and explanations given to us, term loans availed by the company were applied by the company for the purposes for which the loans were obtained. 16) Based on overall examination of Balance Sheet of the Company as at March 31, 2010, short term funds were applied for the purpose for which they were obtained. 17) 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, during the year and hence the question of whether the price at which shares have been issued is prejudicial to the interest of the company does not arise. 18) During the year, the company had raised money by way of placement of equity shares to Qualified Institutional Buyers (QIBs). We have verified the end use of the money raised as disclosed by the Management in the Notes to accounts. 19) To the best of our knowledge and belief and according to the information and explanations given to us, no fraud on or by the Company was noticed or reported during the year. For S. K. Agrawal & Company Chartered Accountants Registration No. 306033E S. K. Agrawal Partner Membership No. 9067 Kolkata May 28, 2010