Presenting Partner

Life Insurance Corporation of India

Moneycontrol

Budget 2022

Associate Partners:

  • Kotak Mutual Fund
  • Pharmeasy
  • Indiabulls
  • SBI

Presenting Partner

Life Insurance Corporation of India

Moneycontrol

Budget 2022

Technology Partner

Dell Technologies

Associate Partners

Kotak Mutual Fund
Pharmeasy
Indiabulls
SBI
you are here:

Ipca Laboratories Ltd.

BSE: 524494 | NSE: IPCALAB |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE571A01038 | SECTOR: Pharmaceuticals

BSE Live

Jan 25, 16:00
1043.55 0.35 (0.03%)
Volume
AVERAGE VOLUME
5-Day
34,737
10-Day
26,335
30-Day
30,563
21,412
  • Prev. Close

    1043.20

  • Open Price

    1032.70

  • Bid Price (Qty.)

    1043.55 (3)

  • Offer Price (Qty.)

    1049.95 (1)

NSE Live

Jan 25, 16:00
1043.20 0.20 (0.02%)
Volume
AVERAGE VOLUME
5-Day
507,034
10-Day
408,451
30-Day
544,978
526,167
  • Prev. Close

    1043.00

  • Open Price

    1040.00

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    1043.20 (99)

Annual Report

For Year :
2021 2019 2018 2017 2016 2015 2014 2013 2012

Auditor's Report

Report on Financial Statements

We have audited the accompanying Financial Statements of Ipca Laboratories Limited (the Company), which comprises the Balance Sheet as at 31st March, 2013 and the Statement of Profit and Loss and the Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory notes.

Management's Responsibility for the Financial Statements

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). This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and fair presentation of the financial statements that are free from material misstatement, whether due to fraud or error.

Auditors' 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. 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 reasonable basis for our opinion. Opinion

In our opinion and to the best of our information and according to the explanations given to us, the financial statements 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, 2013;

(b) in the case of the Statement of Profit and Loss, of the Profit for the year ended on that date; and

(c) in the case of the Cash Flow Statement, of the cash flow for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. 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.

2. As required by Section 227(3) of the Companies Act 1956, 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 purpose of our audit.

ii) In our opinion, proper books of accounts as required by law have been kept by the Company so far as it appears from our examination of the books.

iii) The Balance Sheet, Statement of Profit and Loss and Cash Flow Statement dealt with by this report are in agreement with the books of accounts.

iv) In our opinion, the Balance Sheet, Statement of Profit and Loss and the 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 the written representation 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 2013 from being appointed as a director in terms of Clause (g) of Sub-section (1) of section 274 of the Companies Act, 1956 on the said date.

Annexure to the Auditors' Report

(Referred to in our report of even date)

(i) (a) The Company is maintaining proper records showing full particulars, including quantitative details and situation of fixed assets;

(b) The fi xed assets have been physically verified by the management at reasonable intervals and any material discrepancies noticed on such verification have been properly dealt with in the books of account;

(c) The Company has not disposed off any substantial part of fixed assets.

(ii) (a) Stock of finished goods, stores, spare parts and raw materials has been physically verified by the management at reasonable intervals during the year.

(b) In our opinion and according to the information and explanations given to us, the procedure of physical verification of stock followed by the management is reasonable and adequate in relation to the size of the Company and the nature of its business.

(c) The valuation of stock has been done on the basis of physically verifi ed quantity. Therefore shortage / excess automatically gets adjusted and the same is properly dealt in the books of accounts.

(iii) The Company has neither granted nor taken any fresh loan from parties listed in the register maintained under section 301 of the Companies Act. Therefore the provisions of clause 4(iii) of the Companies (Auditors' Report) Order, 2003 is not applicable.

(iv) In our opinion and according to the information and explanations given to us there is an adequate internal control procedure commensurate with the size of the Company and the nature of its business, for the purchase of inventory, fixed assets and for the sale of goods. We have not come across any continuing failure to correct major weaknesses in internal control.

(v) (a) In our opinion and according to the information and explanations given to us the transactions that need to be entered into a register in pursuance of section 301 of the Act has been properly entered.

(b) All the transactions have been made at prices which are reasonable having regard to the prevailing market prices at the relevant time and the nature of services rendered by such party.

(vi) The Company has not accepted any deposits from the public during the year under review, and consequently the directives issued by the Reserve Bank of India and the provisions of sections 58A and 58AA of the Act and the rules framed there under are not applicable.

(vii) In our opinion the Company has an internal audit system commensurate with the size of the Company and the nature of its business.

(viii) According to the records produced and information given to us, the cost records and accounts as prescribed by the Central Government under section 209(1)(d) of the Companies Act, 1956 have been made and maintained by the Company but no detailed examination of such records and accounts has been carried out by us.

(ix) (a) The Company is regular in depositing provident fund, employees state insurance, income tax, sales tax, service tax, customs duty and excise duty dues with the appropriate authorities and there are no arrears of outstanding statutory dues as at the last day of the financial year for a period of more than six months from the date they became payable.

(b) According to the information and explanation given to us, the following tax / duty etc has not been deposited on account of dispute.

(x) The Company does not have any accumulated losses and has not incurred cash losses in current year and in the previous year.

(xi) We are informed that the Company has not defaulted in repayment of dues to any financial institution or bank or debenture holders.

(xii) On the basis of the audit procedures followed and the representations from the management, we report that the Company has not granted loans or advances on the basis of security by way of pledge of shares, debentures and other securities. Therefore the provisions of clause 4(xii) of the Companies (Auditors' Report) Order, 2003 is not applicable.

(xiii) The Company is not a nidhi/ mutual benefit fund/society and accordingly clause 4(xiii) of the Companies (Auditors'Report) Order, 2003 is not applicable.

(xiv) The Company does not deal or trade in shares, securities, debentures and other investments. Therefore clause 4(xiv) of the Companies (Auditors' Report) Order, 2003 is not applicable.

(xv) According to the information and explanations given to us, the Company has not given any guarantee for loans taken by others from bank, and therefore clause 4(xv) of the Companies (Auditors' Report) Order, 2003 is not applicable.

(xvi) On the basis of the documents submitted to the bankers and the other records perused by us we have to state that the term loans which are in the nature of External Commercial Borrowings taken during the year have been applied for the purpose for which the loans were obtained.

(xvii) According to the information and explanation given to us, on an overall examination of the Balance Sheet of the Company and the necessary representations from the management, we report that no short term funds raised by the Company have been applied towards long term assets / investments.

(xviii)The Company has not made any preferential allotment of shares to parties and companies covered in the Register maintained under section 301 of the Act. Accordingly clause 4(xviii) of the Companies (Auditors' Report) Order, 2003 is not applicable.

(xix) The Company has made fresh issue of debentures during the year. The Company has executed the debenture trust deed as per section 117A of the Act and proper security or charge has been created in favour of the debenture trust.

(xx) The Company has not raised any money by public issues during the year and accordingly clause 4(xx) of Companies (Auditors' Report) Order, 2003 is not applicable;

(xxi) Based on the audit procedures performed and the information and explanation given by the management we report that no fraud on or by the Company has been noticed or reported during the year.

For Natvarlal Vepari & Co.

Chartered Accountants

Firm Registration No 106971W

N Jayendran

Mumbai, Partner

May 30, 2013 M. No. 40441