you are here:

Kansai Nerolac Paints Ltd.

BSE: 500165 | NSE: KANSAINER |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE531A01024 | SECTOR: Paints & Varnishes

BSE Live

Aug 02, 09:48
625.75 -0.35 (-0.06%)
Volume
AVERAGE VOLUME
5-Day
18,571
10-Day
27,939
30-Day
26,144
6,814
  • Prev. Close

    626.10

  • Open Price

    626.00

  • Bid Price (Qty.)

    625.55 (2)

  • Offer Price (Qty.)

    626.00 (21)

NSE Live

Aug 02, 09:48
625.65 -0.30 (-0.05%)
Volume
AVERAGE VOLUME
5-Day
354,249
10-Day
443,184
30-Day
323,519
30,900
  • Prev. Close

    625.95

  • Open Price

    632.00

  • Bid Price (Qty.)

    625.35 (18)

  • Offer Price (Qty.)

    626.00 (34)

Annual Report

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

Auditor's Report

We have audited the attached Balance Sheet of Kansai Nerolac Paints Limited (''the Company'') as at 31 March 2012, the Statement of Profit and Loss and the Cash Flow Statement of the Company for the year ended on that date, annexed thereto. 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 (''the Order'') issued by the Central Government of India in terms of sub-section (4A) of Section 227 of the Companies Act, 1956 (''the Act''), we enclose in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the said Order. Further to our comments in the Annexure referred to above, we report that: a) we have obtained all information and explanations which to the best of our knowledge and belief were necessary for the purposes of the 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 the books; c) the Balance Sheet, the Statement of Profit and Loss and the Cash Flow Statement dealt with by this report are in agreement with the books of account; d) in our opinion, the Balance Sheet, the 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 Act; e) on the basis of written representations received from the directors of the Company as at 31 March 2012 and taken on record by the board of directors, we report that none of the directors is disqualified as on 31 March 2012 from being appointed as a director of the Company under clause (g) of sub-section (1) of Section 274 of the Act; and f) in our opinion and to the best of our information and according to the explanations given to us, the said 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; i. in case of the Balance Sheet, of the state of affairs of the Company as at 31 March 2012; ii. in case of the Statement of Profit and Loss, of the profit of the Company for the year ended on that date; and iii. in case of the Cash Flow Statement, of the cash flows of the Company for the year ended on that date. ANNEXURE TO AUDITORS'' REPORT - 31 MARCH 2012 With reference to the Annexure referred to in our report of even date, we report that: i. (a) The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets. (b) According to the information and explanation given to us, the fixed assets are being physically verified by the management according to a phased programme designed to cover all the items over a period of three years, which, in our opinion, is reasonable having regard to the size of the Company and nature of its assets. Pursuant to this programme, some of the fixed assets have been physically verified by the management during the year, and no material discrepancies were noticed on such verification. (c) Fixed assets disposed off during the year were not substantial, and do not affect the going concern assumption. ii. (a) The inventory has been physically verified by the management during the year. In our opinion, the frequency of such verification is reasonable. (b) The procedures for the 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) The Company has maintained proper records of inventory. The discrepancies noticed on verification between the physical stocks and the book records were not material. iii. The Company has neither granted nor taken any loans, secured or unsecured, to or from companies, firms or other parties covered in the register maintained under Section 301 of the Act. iv. In our opinion and according to the information and explanations given to us, there is an adequate internal control system commensurate with the size of the Company and the nature of its business with regard to purchase of inventories and fixed assets and with regard to the sale of goods and services. In our opinion and according to the information and explanations given to us, there is no continuing failure to correct major weaknesses in internal control system. v. (a) In our opinion and according to the information and explanations given to us, the particulars of contracts or arrangements referred to in Section 301 of the Act have been entered in the register required to be maintained under that section. (b) I n our opinion, and according to the information and explanations given to us, the transactions made in pursuance of contracts and arrangements referred to in (a) above and exceeding the value of Rs 5 lakh with any party during the year have been made at prices which are reasonable having regard to the prevailing market prices at the relevant time, except for transactions which are for the Company''s specialised requirements for which suitable alternative sources are not available to obtain comparable quotations. However, on the basis of information and explanations provided, the same appear reasonable. vi. The Company has not accepted any deposits from the public. vii. In our opinion, the Company has an internal audit system commensurate with the size and the nature of its business. viii. 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 Act and are of the opinion that prima facie, the prescribed accounts and records have been made and maintained. However, we have not made a detailed examination of the records. ix. (a) According to the information and explanations given to us and on the basis of our examination of the records of the Company, amounts deducted/accrued in the books of account in respect of undisputed statutory dues including Provident fund, Income-tax, Sales-tax, Wealth tax, Service tax, Customs duty, Investor Education and Protection Fund, Employees'' State Insurance, Cess, Excise duty and other material statutory dues have been generally regularly deposited during the year by the Company with the appropriate authorities. According to the information and explanations given to us, no undisputed amounts payable in respect of Provident fund, Income-tax, Sales-tax, Wealth tax, Service tax, Customs duty, Investor Education and Protection Fund, Employees'' State Insurance, Cess, Excise duty and other material statutory dues were in arrears as at 31 March 2012 for a period of more than six months from the date they became payable. (b) According to the information and explanations given to us, there are no dues of Income-tax, Sales-tax, Wealth tax, Service tax, Customs duty, Excise duty and Cess which have not been deposited with the appropriate authorities on account of any dispute, except as stated below. (Rs in million) Forum where dispute is pending Period to which the Name of the Statute / Nature of dues Commissioner Appellate Total amount relates Authorities Amount & Tribunal Sales Tax 1980-81 0.03 - 0.03 1991-92 0.13 - 0.13 1995-96 to 2009-10 6.01 5.13 11.14 The Central Excise Act, 1944 1990-91 0.81 - 0.81 Tax, penalty and Interest 1993-94 to 2003-04 15.11 4.26 19.37 x. The Company does not have any accumulated losses at the end of the financial year and has not incurred cash losses in the financial year and in the immediately preceding financial year. xi. In our opinion and according to the information and explanations given to us, the Company has not defaulted in repayment of dues to its bankers. The Company did not have any outstanding dues to any debenture holders during the year. xii. The Company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities. xiii. The Company is not a chit fund / nidhi / mutual benefit fund / society. xiv. The Company is not dealing or trading in shares, securities, debentures and other investments. xv. In our opinion and according to the information and explanations given to us, the terms and conditions on which the Company had given guarantees for loans taken by others from banks or financial institutions are not prejudicial to the interest of the company. xvi. The Company did not have any term loans outstanding during the year. xvii. According to the information and explanations given to us and on an overall examination of the balance sheet of the Company, we are of the opinion that the funds raised on short-term basis have not been used for long-term investment. xviii. The Company has not made any preferential allotment of shares to parties or companies covered in the register maintained under Section 301 of the Act. xix. The Company did not have any outstanding debentures during the year. xx. The Company has not raised any money by public issues during the year. xxi. According to the information and explanations given to us, no fraud on or by the Company has been noticed or reported during the course of our audit. For B S R & CO. Chartered Accountants Firm''s Registration No.: 101248W Vijay Mathur Partner Membership No.: 046476 Mumbai 2 May 2012