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Emami Paper Mills Ltd.

BSE: 533208 | NSE: EMAMIPAP |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE830C01026 | SECTOR: Paper

BSE Live

Sep 28, 16:00
66.25 0.00 (0.00%)
Volume
AVERAGE VOLUME
5-Day
1,387
10-Day
986
30-Day
1,494
1,471
  • Prev. Close

    66.25

  • Open Price

    67.55

  • Bid Price (Qty.)

    66.25 (10)

  • Offer Price (Qty.)

    66.25 (43)

NSE Live

Sep 29, 09:58
68.30 1.40 (2.09%)
Volume
AVERAGE VOLUME
5-Day
3,329
10-Day
3,567
30-Day
7,174
583
  • Prev. Close

    66.90

  • Open Price

    66.70

  • Bid Price (Qty.)

    66.65 (20)

  • Offer Price (Qty.)

    68.15 (12)

Annual Report

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

Auditor's Report

We have audited the attached Balance Sheet of Emami Paper Mills Limited as at 31st March 2010, the Profit & Loss Account and the Cash Flow Statement for the year ended on that date annexed thereto in which are incorporated the accounts of Gulmohar unit audited by Branch Auditors. 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 Report on the accounts of Gulmohar Unit audited by Branch Auditors have been received and properly dealt with 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, the Profit & Loss Account & the 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 21 1 (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 31st March 2010 from being appointed as a director in terms of Section 274(1 )(g) of the Companies Act, 1956. f) In our opinion and to the best of our information and according to the explanations given to us, the said accounts read with the 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 the Balance Sheet, of the State of Affairs of the Company as on 31 st March, 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 the 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 of India in terms of sub-section (4A) of Section 227 of the Companies Act, 1956 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 major items of fixed assets at reasonable intervals. c. Fixed assets disposed of during the year were not substantial, and therefore, do not affect the going concern assumption. 2. a. The inventories have been physically verified during the year by the management. 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 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 and no material discrepancies were noticed on physical verification. 3. a. The Company has given unsecured loan to a company listed in the register maintained under Section 301 of the Companies Act, 1956 against whom the maximum amount outstanding during the year was Rs 272 lacs and the year end balance of such loan amounted to Rs. 272 lacs. The rate of interest and other terms and conditions of the loan are not prima facie prejudicial to the interest of the Company. The principal amounts and interest are repayable on demand, therefore the question of overdue amounts does not arise. b. The Company has not taken any loans, secured or unsecured, from companies listed* 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 are adequate internal control systems 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. 5. In respect of contracts or arrangements referred in Section 301 of the Companies Act, 1956: a. In our opinion and according to the information and explanations given to us, the transactions made in pursuance of contracts or arrangements, that need to be entered in the Register maintained under section 301 of the Companies Act, 1956 have been so entered. b. In our opinion and according to the information and explanations given to us, the transactions referred to above and exceeding the value of Rs. 5 lacs with any party during the year have been made at prices which are reasonable having regard to the prevailing market prices. 6. The Company has not accepted any deposits from the public during the year. 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 under clause (d) of sub-section (1) of Section 209 of the Companies Act, 1956 for the maintenance of cost records 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 regular in depositing undisputed statutory dues, including Provident Fund, Employees State Insurance, Income Tax, Service Tax, Sales Tax, VAT, Wealth Tax, Custom Duty, Excise Duty, Cess and other statutory dues with the appropriate authorities during the year. According to the information and explanations given to us, no undisputed amounts payable in respect of the aforesaid dues were outstanding as at 31 st March, 2010 for a period of more than six months from the date of becoming payable. b. According to the information and explanations given to us, details of dues of Excise Duty, Sales Taxes and Employees State Insurance which have not been deposited as on 31st March, 2010 on account of dispute are given below: Particular Financial Year to which Forum where matter Amount (Rs. in Lacs) the matter pertains is pending Excise Duty 1994-95 ACCE 0.87 2004-05 0.09 CST 1993-94 Tribunal 16.26 2004-05 Tribunal 0.53 2005-06 Addl. Comm. 238.52 2006-07 Addl. Comm. 3.83 2007-08 Addl. Comm. 4.06 VAT(Orissa) 2005-06 Addl. Comm. 1.68 2006-07 Addl. Comm. 0.59 2007-08 Addl. Comm 0.79 Entry Tax (Orissa) 2006-07 Addl. Comm. 1.30 2007-08 Addl. Comm. 0.11 OST 1989-90 High Court 0.79 ESIC 1996-97 ESICourt 0.22 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 year and in 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 & explanations given to us, the Company is not dealing in shares, securities debentures and other investment. 14. According to information given to us, the Company has not given any guarantee for loans taken by others from banks or financial institution. 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 for the purpose for which the loans were obtained. 16. According to the Cash Flow Statement and other records examined by us and the information and explanations given to us on an overall basis, we report that funds raised on short term basis have, prima facie, not been used for long term investments. 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. The Company has not raised money by public issues during the year and hence the question of disclosure and verification of end use of such money does not arise. 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 Place: Kolkata Dated: May 05, 2010