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Kerala Ayurveda Ltd.

BSE: 530163 | NSE: | Series: NA | ISIN: INE817B01025 | SECTOR: Pharmaceuticals

BSE Live

Jun 01, 14:46
48.00 0.25 (0.52%)
Volume
AVERAGE VOLUME
5-Day
2,340
10-Day
2,497
30-Day
4,741
2,440
  • Prev. Close

    47.75

  • Open Price

    48.00

  • Bid Price (Qty.)

    47.35 (5)

  • Offer Price (Qty.)

    48.00 (106)

NSE Live

Dec 27, 11:22
NT* 0.00 (0.00%)
Volume
No Data Available
0
  • Prev. Close

    -

  • Open Price

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  • Bid Price (Qty.)

    - (0)

  • Offer Price (Qty.)

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Kerala Ayurveda is not listed on NSE

Annual Report

For Year :
2018 2016 2015 2013 2012 2011 2010 2009 2008

Auditor's Report

1. We have audited the attached Balance Sheet of KERALA AYURVEDA LIMITED as at 31st March 2009, the Profit and Loss Account and the Cash Flow Statement for the year ended on that date both annexed there to. 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 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 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) 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 paragraph 4 and 5 of the said order to the extent applicable. 4. Further to our comments in the Annexure referred to in paragraph (3) above, we report that: a) 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, 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, the 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, the Profit and Loss Account and the Cash Flow Statement dealt with by this report are in compliance with the Accounting Standards referred to in sub-section 3(C) of section.211 of the Companies Act, 1956; e) On the basis of written representations 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, f) In our opinion and to the best of our information and according to the explanations given to us, the said accounts, read together with the 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 the companys affairs as at 31st March, 2009; ii) In the case of the Profit and Loss Account, of the Loss of the Company for the year ended on that date, iii) In the case of the Cash Flow Statement, of the cash flows for the year ended on that date. ANNEXURE TO THE AUDITORS REPORT (Referred to in paragraph (3) of our report of even date) I a) The company has maintained proper records showing full particulars including quantitative details and situation of fixed assets. b) All the fixed assets have not been physically verified by the management during the year but the Company has a regular programme of verification which, in our opinion, is reasonable having regard to the size of the company and the nature of its assets. No material discrepancies were noticed on such verification. c) In our opinion the fixed assets disposed off during the year were not material so as to affect the going concern status of the company. II a) The management has conducted physical verification of inventory at reasonable intervals. 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 the nature of its business. c) On the basis of our examination of the records of inventory, we are of the opinion that the company is maintaining proper records of inventory. The discrepancies noticed on verification between the physical stocks and book records were not material and have been properly dealt with in the books of account. III In respect of the loans, secured or unsecured granted or taken by the company to/from companies, firms or other parties covered in the register maintained under section 301 of the Companies Act 1956. a) During the year the Company has given unsecured loan to subsidiary company. In respect of the said loan the maximum amount outstanding at any time during the year is Rs.9,76,02,806/- and the balance outstanding is Rs.1,66,43,678/-. In our opinion and according to the information and explanation given to us the loan is interest free, repayable on demand and terms and conditions are not prejudicial to the interests of the company. b) During the year the Company has taken additional loans from one existing party. In respect of the said loans maximum amount outstanding at any time during the year is Rs.28,09,20,709/- and balance outstanding is Rs.27,69,75,437/-. In our opinion and according to the information and explanations given to us the loan is interest free, repayable on demand and terms and conditions are not prejudicial to the interests of the company. IV In our opinion and according to the information and explanations given to us, there are adequate internal control procedures 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. During the course of our audit, we have not observed any continuing failure to correct major weaknesses in internal control system. V a) According to the information and explanations given to us, we are of the opinion that the transactions that need to be entered into the register maintained under section 301 of the Companies Act, 1956 have been so entered. b) According to the information and explanations given to us, the transactions made in pursuance of contracts or arrangements entered in the registers maintained under section 301 and exceeding the value of five lakhs rupees in respect of any party during the year have been made at prices which are reasonable having regard to prevailing market prices at the relevant time. VI In our opinion and according to the information and explanations given to us the company has not accepted deposits from the public during the year. Therefore the provisions of clause 4 (vi) of the order are not applicable to the company. VII In our opinion, the company has an internal audit system commensurate with the size and nature of its business. VIII We have broadly reviewed the books of account maintained by the company in respect of manufacture of Ayurvedic products pursuant to the order made by the Central Government for maintenance of cost records prescribed under section 209 (1) (d) of the Companies Act, 1956 and are of the opinion that prima-facie, the prescribed accounts and records have been made and maintained. We have not however made a detailed examination of the records with a view to determine whether they are accurate or complete. IX According to the records of the company the company, was regular in depositing the Provident Fund dues and Employees State Insurance dues with the appropriate authorities except in a few cases where there were delays. Based on our audit procedures and according to the information and explanations given to us there are no arrears of statutory dues including Provident Fund, Employees State Insurance, Investor Education and Protection Fund, Income Tax, Sales Tax, Wealth Tax, Custom Duty, Excise Duty Service tax, Cess and other statutory dues applicable to it which have been remained outstanding as at 31st March, 2009 for a period of more than six months from the date they become payable. X The companys accumulated loss at the end of the financial year is less than 50% of its net worth. The company has incurred cash loss during the year covered by our audit and during the immediately preceding financial year. XI The company has not defaulted in repayment of dues to financial institution or bank. The company has no debenture holders. XII The company has not granted any 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 or a nidhi / mutual benefit fund / society. Therefore the provisions of clause 4 (xiii) of the Companies (Auditors Report) Order 2003 are not applicable to the company. XIV The company is not dealing or trading in shares, securities, debentures and other investments. Accordingly the provisions of clause 4 (xiv) of the Companies (Auditors Report) Order, 2003 are not applicable to the company. XV In our opinion and according to the information and explanations given to us the terms and conditions on which the company has given guarantee for loans taken by subsidiary company from banks are not prima-facie prejudicial to the interest of the company. XVI According to the information and explanation given to us term loans taken during the year were applied for the purpose for which the loans were obtained. XVII According to the information and explanations given to us the funds raised on short-term basis during the year have not been used for long-term investment. XVIII The company has not made any preferential allotment of shares during the year to parties and companies covered in the Register maintained under section 301 of the Companies Act, 1956. XIX The company has not issued any debentures and therefore the provisions of clause 4 (xix) of the Companies (Auditors Report) Order, 2003 are not applicable to the company. XX During the period covered by our audit report, the company has not raised any money by public issue. XXI Based upon the audit procedures performed and according to the information and explanations given and representations made by the management, we report that no fraud on or by the company has been noticed or reported during the year. For Maharaj Rajan & Mathew, Chartered Accountants Sd/- Place : Kochi Mathew Joseph, Date : 29.06.2009 Partner Membership No.22658