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Hindalco Industries Ltd.

BSE: 500440 | NSE: HINDALCO |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE038A01020 | SECTOR: Aluminium

BSE Live

Jun 21, 16:00
367.50 -4.15 (-1.12%)
Volume
AVERAGE VOLUME
5-Day
701,030
10-Day
620,293
30-Day
810,542
619,426
  • Prev. Close

    371.65

  • Open Price

    364.45

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Jun 21, 15:59
367.60 -3.75 (-1.01%)
Volume
AVERAGE VOLUME
5-Day
14,910,724
10-Day
12,529,905
30-Day
18,848,448
13,172,227
  • Prev. Close

    371.35

  • Open Price

    366.90

  • Bid Price (Qty.)

    367.60 (1340)

  • Offer Price (Qty.)

    0.00 (0)

Annual Report

For Year :
2019 2018 2017 2016 2015 2014 2013 2012 2011

Auditor's Report

We have audited the attached Balance Sheet of HINDALCO INDUSTRIES LIMITED as at 31st March, 2007 and also the Profit and Loss Account and the Cash Flow Statement for the year ended on that date. These financial statements are the responsibility of the Company's 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. 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. As required by the Companies (Auditor's report) Order, 2003, as amended by the Companies (Auditor's Report)(Amendment) Order, 2004 issued by the Central Government of India in terms of sub-section (4A) of section 227 of the Companies Act, 1956, we enclose as Annexure, a statement on the matters specified in the paragraphs 4 and 5 of the said order. Further to our comments in the Annexure referred above, we report that: 1) 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; 2) 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; 3) The Balance Sheet, Profit & Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account; 4) 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; 5) On the basis of the written representations received from the directors and taken on record by the Board of Directors, we report that none of the Directors are disqualified as on 31st March, 2007 from being appointed as a Director in terms of clause (g) of sub-section (1) of section 274 of the Companies Act, 1956; 6) 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 in Schedule 22 give the information required by the Companies Act, 1956 (as amended) 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 31st March, 2007; (b) In the case of the Profit & Loss Account, of the Profit for the year ended on that date; and (c) In the case of Cash Flow Statement, of the Cash Flows for the year ended on that date. Camp : Mumbai For SINGHI & CO. Dated : The 4th day of May, 2007 Chartered Accountants 1-B, Old Post Office Street, RAJIV SINGHI Kolkata-700 001. Partner Membership No. 53518 ANNEXURE TO THE AUDITORS' REPORT I (a) The Company has maintained proper records showing full particulars including quantitative details and situation of Fixed Assets. (b) Fixed Assets have been physically verified by the management periodically in a phased manner and no material discrepancies have been noticed on physical verification as confirmed by the management. (c) No substantial part of Fixed Assets has been disposed off during the year, which has bearing on the going concern assumption. II (a) Physical verification of Inventory (except stocks in transit and stocks lying with third parties, confirmation for which has been obtained) have been conducted at reasonable intervals during the year by the management. (b) In our opinion, the procedures of physical verification of Inventory followed by the management are reasonable and adequate in relation to the size of the Company and nature of its business. (c) The Company has maintained proper records of inventory. No material discrepancies were noticed on physical verification. III. (a) 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. Accordingly, clause 4(III)(b) to (d) of the Order are not applicable. (b) 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. Accordingly, clause 4(III)(f) to (g) of the Order are not applicable. IV. On the basis of checks carried out during the course of audit and as per explanations given to us, we are of the opinion that 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 and services. During the course of our audit, no major weakness has been noticed in the internal controls. V. In our opinion and according to the information and explanations given to us, there are no contracts and arrangements referred to in Section 301 of the Companies Act, 1956, particulars of which need to be entered into a register maintained under Section 301 of the Act. Accordingly, clause 4(V)(b) of the Order is not applicable. VI. The Directives issued by the Reserve Bank of India and the provisions of sections 58A and 58AA or any other relevant provisions of the Companies Act, 1956, and the rules framed there-under have been complied with in respect of deposits accepted from the public. We have been informed that, no order has been passed by Company Law Board or National Company Law Tribunal or Reserve Bank of India or any other Court or Tribunal in this regard. VII. The Company has an Internal Audit System, which in our opinion is commensurate with the size and nature of the business. VIII. The Company has maintained proper cost records as prescribed by Central Government under Section 209 (1) (d) of the Companies Act, 1956, for the products of the Company but no detailed examination of such records has been carried out by us. IX (a) According to the information and explanations given to us and on the basis of our examination of the books of accounts, the Company is generally regular in depositing undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees' State Insurance, Income Tax, Sales Tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty, Cess and other statutory dues with the appropriate authorities. According to the information and explanations given to us no undisputed statutory dues as above were outstanding as at 31st March, 2007 for a period of more than 6 months from the date they became payable. (b) According to the information and explanations given to us, the dues of Sales Tax, Income Tax, Customs Duty, Wealth Tax, Excise Duty, Cess, Service Tax and other statutory dues which have not been deposited on account of any dispute and the forum where the dispute is pending are as under: Name of the Nature of Dues Periods to which the Amount Statute matter pertains (Rs.in Millions) Customs Act, Custom Duty 2004-05 and 2005-06 763.97 1962 Central Excise Excise Duty 2000-01 to 2002-03 1,553.06 Act, 1944 Excise Duty on 1994-95 145.94 Power Excise Duty 1995-96 and 1996-97 7.42 Excise Duty 1992-93 2.14 Excise Duty and 1987-88, 1988-89, 1996-97, 42.99 Service Tax 1993-94, 1995-96 and 1997-1998 to 2006-07 Excise Duty and 1996-97 to 2002-03, 54.03 Service Tax 2004-05 and 2005-06 Excise Duty 1993-94 0.10 Excise Duty 1998-99 and 1999-00 0.20 Excise Duty 2003-04 and 2004-05 0.83 Excise Duty 1992-93 and 1998-99 to 27.28 2005-06 Central Sales Sales Tax 2003-04 and 2004-05 74.66 Tax Act, 1956 Sales Tax 1986-87, 1989-90, 1990-91 and 1992-93 1.56 Sales Tax 1999-2000, 2001-02 and 2002-03 35.11 Sales Tax 2002-03 6.83 Sales Tax 1997-98 and 2001-02 74.93 Sales Tax 1995-96, 1996-97,1997-98, 1999-2000, 2001-02 and 2003-04 8.31 Sales Tax 1997-98 16.50 Sales Tax 1999-00 to 2002-03 89.20 Sales Tax 1977-78. 1978-79, 1988-89, 12.83 1989-90, 1990-91, 1991-92, 1995-96, 1996-97, 1997-98 and 1999-00 Sales Tax 1996-97, 1997-98, 1999-00 and 2000-01 2.69 Kerala General Sales Tax 1990-91,1996-97,1997-98, 4.51 Sales Tax Act, 1998-99 and 1999-00 1963 Jharkhand Sales Sales Tax 1997-98 and 2001-02 3.09 Tax Act, 1981 Orissa Sales Tax Sales Tax 1995-96 4.59 Act, 1947 Sales Tax 1999-00 2.20 Sales Tax 2004-05 3.61 Sales Tax 1996-97 9.10 West Bengal Sales Tax 1995-96, 1996-97, 1997-98, 18.40 Sales Tax Act, 1994 1998-99, 1999-00 and 2003-04 Chhattisgarh Vikas Upkar and 2006-07 1.84 Development and Pariyavaran Upkar Environment Cess, on the Royalty paid on Bauxite Entry tax Act Entry Tax 2002-03, 2005-06 and 2006-07 199.63 Entry Tax 2000-01, 2002 -03, 2005-06 and 2006-07 33.88 Shaktinagar Cess on Coal 1997-98 36.42 Special Area Development Authority. Employee State E.S.I. Contribution 1997-98 1.57 Insurance Corporation Forum where the dispute is pending Commissioner of Customs (Appeals), Ahmedabad. Supreme Court/Commissioner of Customs. The High Court, Delhi. The High Court, Orissa. The High Court, Kerala. Customs, Excise & Service Tax Appellate Tribunal, Mumbai. Customs, Excise & Service Tax Appellate Tribunal, New Delhi. Customs, Excise & Service Tax Appellate Tribunal, Bangalore. Customs, Excise & Service Tax Appellate Tribunal, Ahmedabad. Customs, Excise & Service Tax Appellate Tribunal, Kolkata. Commissioner (Appeals). Appellate Authorities. The High Court, Orissa. Appellate Authorities, Orissa. Commissioner of Commercial Tax, Ranchi. Dy. Comm. Commercial Tax, Ranchi. Revisional Board of Commercial Tax (West Bengal). Joint Commissioner (Appeals), Vadodra, Gujarat. Sales Tax Appellate Authorities. Asst. Commissioner (Assessment). Various Sales Tax Authorities. Asst. Commissioner (Assessment). Dy Comm. Of Commercial Tax, Ranchi. The High Court, Orissa. Commissioner of Commercial Tax, Orissa. Addl. Comm. of Sales Tax, Orissa. Assessing Officer, Sambalpur Circle. Revisional Board of Commercial Taxes (West Bengal). The High Court, Chhattisgarh. The High Court, Allahabad. Various Tax Authorities at Orissa. The High Court, Allahabad. E S I C Office. X. The Company does not have any accumulated losses and has not incurred cash losses in the current financial year and in the immediately preceding financial year. XI. The Company has not defaulted in repayment of dues to Financial Institutions or Banks or Debenture holders. XII. According to the information and explanations given to us, the Company has not granted any loans or advances on the basis of security by way of pledge of Shares, Debentures and other Securities. XIII. The Company is not a chit fund or a nidhi/mutual benefit fund/society. XIV. The Company is not in the business of dealing or trading in shares. The Company has maintained proper records of transactions and contracts in respect of Shares, Securities, Debentures and other Investments and timely entries have been made therein. The Shares, Securities, Debentures and other Investments have been held by the Company, in its own name except to the extent of exemption, granted under Section 49 of the Companies Act, 1956. XV. In our opinion and according to the information and explanations given to us, the terms and conditions on which the Company has given guarantees for loans taken by its Subsidiaries and Joint Ventures from Banks and Financial Institutions are not prima facie prejudicial to the interest of the Company. XVI. Based on information and explanations given to us by the management, term loans were applied for the purpose for which the loans were obtained. XVII. According to the information and explanations given to us and on the basis of our overall examination of the Balance Sheet and Cash Flow Statement, we report that no funds raised on short term basis have been used for long term investment of the company. XVIII. During the year under Audit, the Company has not made any preferential allotment of shares to parties or companies covered in the register maintained under Section 301 of the Companies Act, 1956. XIX. On the basis of records made available to us, the Company has created Securities in respect of Debenture issued/outstanding during the year. XX. The Company has made Rights Issue during the previous year and received 1st call money during the year. The end use of money received as above has been disclosed in the note no. 4 to Schedule 22 on notes to account forming part of the accounts and the same has been verified by us. XXI. Based upon the audit procedures performed and on the basis of information and explanations provided by the management, we report that no fraud, on or by the Company has been noticed or reported during the year. Camp : Mumbai For SINGHI & CO. Dated : The 4th day of May, 2007 Chartered Accountants 1-B, Old Post Office Street, RAJIV SINGHI Kolkata-700 001. Partner Membership. No. 53518