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JB Chemicals and Pharmaceuticals Ltd.

BSE: 506943 | NSE: JBCHEPHARM |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE572A01028 | SECTOR: Pharmaceuticals

BSE Live

Jan 24, 12:18
1725.90 -33.90 (-1.93%)
Volume
AVERAGE VOLUME
5-Day
4,501
10-Day
4,804
30-Day
4,829
2,594
  • Prev. Close

    1759.80

  • Open Price

    1760.00

  • Bid Price (Qty.)

    1725.80 (1)

  • Offer Price (Qty.)

    1727.70 (1)

NSE Live

Jan 24, 12:18
1726.10 -34.30 (-1.95%)
Volume
AVERAGE VOLUME
5-Day
47,637
10-Day
60,943
30-Day
98,616
17,064
  • Prev. Close

    1760.40

  • Open Price

    1760.20

  • Bid Price (Qty.)

    1726.10 (6)

  • Offer Price (Qty.)

    1726.80 (4)

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 J. B. Chemicals & Pharmaceuticals Ltd. as at 31st March, 2009, the Profit and Loss account and also 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 accounting 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 the 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 as amended by Companies (Auditors Report) (Amendment) Order, 2004 (together the Order) 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 the information and explanation given to us and the books and records examined by us in the normal course of audit and to the best of our knowledge and belief, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the said Order. 4. Further to our comment in the Annexure referred to above, we report that: a. We have obtained all the information and explanation, which to the best of our knowledge and belief were necessary for the purpose of our audit; b. 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; c. The balance sheet, profit and loss account and cash flow statement dealt with by this report are in agreement with the books of account; d. 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 to the extent applicable; e. On the basis of written representation received from the directors, as on 31st March, 2009 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; In our opinion and to the best of our information and according to the explanation given to us, the said accounts, read together with 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: i. In the case of the balance sheet, of the state of affairs of the company as at 31st March, 2009; ii. in the case of the profit and loss account, of the profit for the year ended on that date; and iii. in the case of cash flow statement, of the cash flow for the year ended on that date. ANNEXURE TO THE AUDITORS REPORT (as referred to in paragraph 3 of our report of even date) 1) a) The company has maintained proper records showing full particulars including quantitative details and situation of fixed assets. b) These fixed assets have been physically verified by the management at regular interval considering the size of the company and nature of assets. No material discrepancies have been noticed on such verification. c) No disposal of a substantial part of fixed assets of the company has taken place during the year. 2) a) As explained to us, the inventories were physically verified by the management at reasonable intervals during the year. b) In our opinion and according to the information and explanation 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 the nature of its business. c) In our opinion and according to the information and explanation given to us, the company has maintained proper records of its inventories and the discrepancies noticed on physical verification between physical stock and the book records were not material and have been adequately dealt with in the books of account. 3) a) According to information and explanation given to us, the company has, during the year, not granted any loan secured or unsecured to the companies, firms or other parties covered in the register maintained under section 301 of the Companies Act, 1956. Accordingly, paragraphs 4 (iii) (a), (b), (c) and (d) of the Order, are not applicable. b) According to information and explanation given to us, the company had taken unsecured loans from eight companies covered in the register maintained under section 301 of the Companies Act, 1956. The year end balance is Rs. 1,781.50 lacs and the maximum amount involved at any time during the year is Rs. 2,486.50 lacs. The rate of interest and other terms and conditions are not prima-facie prejudicial to the interest of the company. The payment of principal amount and interest are also regular. 4) The company has adequate internal control procedure commensurate with the size of the company and nature of its business with regard to purchase of inventories and fixed assets and for sale of goods and services. We have not come across any major weakness in internal control. 5) a) To the best of our knowledge and belief, and according to information and explanation given to us, the particulars of contracts or arrangements referred to in section 301 of the Act have been entered in the register maintained under that section. b) The transaction of purchase of goods and material and sale of goods, material and services, made in pursuance of contracts or arrangements entered in the Register maintained under section 301 of the Act and exceeding the value of rupees five lacs in respect of any party during the year, have been made at prices which are reasonable having regard to the prevailing market prices at the relevant time. 6) In our opinion and according to the information and explanation given to us,the company has complied with the directives issued by the Reserve Bank of India and the provisions of section 58A and 58AA or any other relevant provisions of the Act and rules framed there under, with regard to the deposits accepted from the public. 7) The company has appointed a firm of Chartered Accountants to carry out its internal audit function. In our opinion, the internal audit system is commensurate with the size of the company and nature of its business. 8) We have broadly reviewed the books of account maintained by the company, pursuant to the rules made by the Central Government for the maintenance of cost records, under clause (d) of sub-section (1) of section 209 of the Companies Act, 1956 and are of the opinion that prima facie the prescribed accounts and records have generally been maintained. We have not, however, made a detailed examination of the records with a view to determining whether they are accurate or complete. 9) a) According to the records of the company, the company is 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 explanation given to us, there are no undisputed amounts payable in respect of such statutory dues which have remained outstanding as at 31st March, 2009 for a period of more than six months from the day they became payable. b) According to information and explanation given to us, details of disputed Sales Tax demand aggregating that have not been deposited on account of disputes are given below: Name of Nature of Amount Staute Dues (Rs. In lacs) The UP Sales Tax 5.23 Sales Tax Act the UP Sales Tax 6.25 Sales Tax Act Central Excise Duty 8.07 Excise Act, Penalty 8.07 1944 Period Forum where to which dispute amount pending relates 2000-2001 Commissioner (Appeals) 1992-1993 Supreme Court of India May 2001- CESTAT Nov. 2001 10) The company has no accumulated losses and has not incurred cash losses in the current financial year and in the immediately preceding financial year. 11) The company has not defaulted in repayment of dues to any Banks. 12) The company has not granted loans and advances on the basis of security by way of pledge of shares, debentures or other securities. 13) The provisions of any Special Statute applicable to Chit Funds, Nidhis or Mutual Benefit Funds / Societies are not applicable to the company. 14) The company is not dealing in or trading in shares, securities, debentures, or other investments and hence, requirement of paragraph 4(xiv) are not applicable to the company. 15) According to the information and explanation given to us, the company has given guarantee for loan taken by its subsidiary from a bank; the terms and conditions whereof, in our opinion, are not prima-facie prejudicial to the interest of the company. 16) In our opinion and according to the information and explanations given to us, on an overall basis, the term loans have been applied for the purpose for which they were obtained. 17) According to the Cash Flow Statement and other records examined by us and on the basis of information and explanation given to us, on an overall basis, funds raised on Short Term basis have, prima facie, not been used during the year for Long Term investment. 18) During the year, the company has not issued and allotted any shares to parties and companies covered in the register maintained u/s 301 of the Companies Act, 1956. 19) Since the company does not have any debentures, the question of creation of securities for debentures does not arise. 20) Since the company has not raised money by Public Issue, clause (xx) of the Order is not applicable. 21) 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 J. K. Shah & Co. Chartered Accountants J. K. Shah Place : Mumbai Partner Date : May 12, 2009 Membership No. 3662