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Kilitch Drugs (India) Ltd.

BSE: 524500 | NSE: KILITCH |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE729D01010 | SECTOR: Pharmaceuticals

BSE Live

Apr 07, 16:00
105.00 13.15 (14.32%)
Volume
AVERAGE VOLUME
5-Day
1,441
10-Day
1,657
30-Day
2,331
4,981
  • Prev. Close

    91.85

  • Open Price

    96.80

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Apr 07, 15:52
104.15 12.40 (13.52%)
Volume
AVERAGE VOLUME
5-Day
15,229
10-Day
19,271
30-Day
17,272
56,826
  • Prev. Close

    91.75

  • Open Price

    99.40

  • Bid Price (Qty.)

    104.15 (60)

  • Offer Price (Qty.)

    0.00 (0)

Annual Report

For Year :
2018 2016 2015 2014 2013 2012 2011 2010 2009

Auditor's Report

1) We have audited the attached Balance Sheet of Kilitch Drugs (India) Limited as at March 31, 2007 together with the Profit and Loss Account and Cash Flow Statement of the Company for the year ended on that date annexed thereto and report that, 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 standard 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 test basis evidence supporting the amounts and disclosures in the financial statement. 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. 3) As required by the Companies Auditors Report Order, 2003 issued by the Company Law board in terms of Sections 227 (4A) of the Companies Act 1956, we annex hereto a statement on the matters specified in paragraphs 4 and 5 of the said order. 4) Further to our comment referred to in paragraph (1) above, we state that: a) We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purposes 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 examination of the books. c) The Balance Sheet and Profit and Loss Account, referred to in this report are in agreement with the books of accounts. d) In our opinion, the Balance Sheet and the Profit and Loss Account are prepared in accordance with Accounting Standard issued by the Institute of Chartered Accountants of India referred to in Section 211 (3C) of the Companies Act, 1956. e) On the basis of written representation from the Directors as on March 31, 2007 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 Directors in term of Section 274( 1 )(g) 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 accounts read with the notes thereon, given the information required by the Companies Act, 1956, in the manners so required and give a true and fair view: i) In the case of the Balance Sheet of the state of affairs of the Company as at March 31, 2007 and ii) In the case of Profit and Loss Account, of the profit for the year ended on that date, iii) In case of the Cash Flow Statement, of the cash flow for the year ended on that day. ANNEXTURE TO AUDITORS REPORT : Referred to para (1) of our report of even date. 1) (a) The Company has maintained proper records showing full Particulars including Quantitative Details and situations of Fixed Assets. (b) All the Assets have been Physically Verified by the Management during the year and there is a regular program to the size of the Company and the nature of its assets. No material discrepancies were noticed on such verifications. (c) No fixed assets have been disposed of during the year by the Company. 2) (a) The Inventory have been physically verified during the year by the management. In our opinion the frequency of the verification is reasonable. (b) The procedure for physical verification of inventory followed by the Company are reasonable & adequate in relation to the size of the Company & the nature of its business. (c) In our opinion and according to the information and explanation given to us the company is maintaining proper records of inventory. The Discrepancies noticed on physical verification of Stock as compared to book records were not material and the same have been properly dealt within the books of Accounts. 3) (a) In our opinion and according to the information and explanations given to us, the Company has not granted or accepted any loans / advances from the companies, firms or other parties listed in the registers maintained under section 301 of the Companies Act, 1956 except the following. Name of the Party Relation Particulars Amount (Rs.) NBZ Pharma Limited Related Party Advance Accepted 15,77,71,894.30 (b) According to the information and explanations given to us by the management, we are of opinion that terms and conditions on which loan or advances, secured or unsecured, have been granted are not prejudicial to the interest of company. Since, the advances have been given/ taken in normal course of business, therefore no interest have been paid / received on the same. (c) All payments/receipts in respect of advances taken/given were regular during the year. (d) In our opinion and as per the information and explanation given to us by the management, reasonable steps have been taken by the company for recovery/payment of advances. 4) 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, plant and machinery, equipment and other assets. 5) (a) In our opinion and according to the information and explanations given to us, the transactions that need to be entered in the register maintained under section 301 of Companies Act, 1956 have been so entered. (b) In our opinion and as per Information and explanations given to us, transactions during the year in respect of each party have been made at prices which are reasonable having regard to the prevailing market prices at which similar goods, materials or services have been made with other parties. Following Transactions have taken place with the Related Party during Accounting Year 2006 - 07 : Name of the Party Relation Particulars Amount (Rs.) NBZ Pharma Limited Related Party Job Work Done 1,38,93,447/- 6) The Company has not accepted deposits from the public & therefore, the directive issued by the Reserve Bank of India & provisions of Section 58A and 58AA of the Companies Act, 1956 and the rules framed there under do not apply to the Company. 7) In our opinion the company has an internal audit system commensurate with the size and nature of its business. 8) According to the information and explanations given to us, the provision for maintenance of the Cost Records as prescribed by the Central Government is not applicable to the company. 9) (a) According to the records of the company Income Tax, Sales Tax, Custom Duty, Excise Duty, Cess, Provident Fund, E.S.I.C. and other material statutory dues applicable to company, are generally regularly deposited during the year. According to the information and explanations given to us no undisputed amounts payable in respect of above were in arrears as at 31st March, 2006 for a period of more than Six Months from the date on which they become payable. 10) The company does not have any accumulated losses at the end of financial year and has not incurred cash losses during the financial year covered by our audit and the immediately preceding financial year. 11) In our opinion and according to information and explanation given to us the company has not defaulted in repayment of any dues to financial Institutions and banks. 12) In our opinion and according to the information and explanation given to us the company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities. 13) In our opinion the company is not a Chit Fund or Nidhi or Mutual Benefit Fund or Society. Therefore the Provisions of Clause 4(xiii) of the Companies (Auditors report) Order 2003 are not applicable to the company. 14) In our opinion the company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly the Provisions of Clause 4(xiv) of Companies (Auditors Report) Order 2003 are not applicable to the company. 15) In our opinion and according to the information and explanation given to us, the company has not given any guarantee for loans taken by others from banks or financial institutions. 16) As per the information and explanation given to us and on overall examination of the balance sheet of the company has raised Term Loan of Rs. 7,00,00,000/- from State Bank of India, Commercial Branch, Fort and Rs.2,00,00,000/-from Shamrao Vithal Co.op Bank Limited, Chembur Branch 17) According to the information and explanation given to us and on over all examination of the balance sheet we report that, no funds raised on short term basis have been used for long term investments and vice-versa. 18) According to the information and explanation given to us the company has made a preferential allotment of Rs. 33,54,120/- by issuing 3,35,412 Equity Shares of Rs. 10/- each at the rate Rs. 27/- each to Directors. 19) The Company has not created any securities in respect of debentures issued. 20) The company has not made any public issue during the financial year. 21) According to the information and explanation given to us no fraud on or by the company has been noticed or reported during the course of our audit. FOR M. P. KALA & CO. CHARTERED ACCOUNTANTS Sd/- Place : Mumbai KRUNAL SHAH Date : 30.06.2007 PARTNER