Moneycontrol
Get App
SENSEX NIFTY
you are here:

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 03, 16:00
91.25 7.10 (8.44%)
Volume
AVERAGE VOLUME
5-Day
1,304
10-Day
1,523
30-Day
2,402
2,038
  • Prev. Close

    84.15

  • Open Price

    88.05

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Apr 03, 15:49
91.75 8.40 (10.08%)
Volume
AVERAGE VOLUME
5-Day
13,834
10-Day
17,125
30-Day
16,627
32,894
  • Prev. Close

    83.35

  • Open Price

    84.95

  • Bid Price (Qty.)

    0.00 (0)

  • 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 (the Company) as at 31st March, 2012, the Profit and Loss Account and Cash Flow Statement for the year ended on that date annexed thereto, which we have signed under reference to this report. 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

2 We conducted our audit in accordance with the 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 die 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 (he overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

3 As required by the Companies (Auditor's Report) Order, 2003, as amended by the Companies (Auditor's 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,19S6 (the'Act') and on the basis of such checks of the books and records of the Company as we considered appropriate and according to the information and explanations given to us, we give si the Armexure a statement on the matters specified in paragraphs 4 and 5 of the Order.

Further to our comments in the Armexure 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 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 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 widi 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 applicable accounting standards referred to in sub-section (3C) of Section 211 of the Act;

(e) On the basis of written representations received from die directors, as on 31st March ,2012 and taken on record by the Board of Directors, none of the directors is disqualified as on 31st March ,2012 from being appointed as a director in terms of clause (g) of sub-section (I) of section 274 of the Act;

(f) In our opinion and to the best of our information and according to the explanations given to us, the said financial statements together with the notes thereon and attached thereto subject to Note No 1 -K of the Significant Accounting Policies give the information required by the Act in the maimer 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 die state of affairs of the Company as at 31st March, 2012

(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 the Cash Flow Statement, of the cash flows for die year ended on mat date.

ANNEXURE TO THE AUDITOR'S REPORT (Referred to in Paragraph 3 of the Auditor's Report of even date to the members of Kilitch Drugs (India) Limited)

1. The Company has maintained proper records showing full particulars, including Quantitative details and situation of it's fixed assets. According to the information and explanations given to us the fixed assets have been physically verified by the Management at regular intervals. In our opinion, the frequency of physical verification is reasonable having regard to the size of the Company and the nature of its assets. We were informed mat no material discrepancies between the book records and the physical Inventory have been noticed. The Company has disposed of a substantial portion of its fixed assets, and in our opinion and according to the information and explanations given to us by the management that has not affected the Company as a Going Concern.

2. The inventory has been physically verified by the Management during the year. In our opinion, the frequency of verification is reason-able, 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. On the basis of our examination of the inventory records, in our opinion, the Company is maintaining proper records of inventory. The discrepancies noticed on physical verification of Inventory as compared to book records were not material and have been properly dealt with in the books of account.

3. The Company has not granted secured / unsecured loans, to any companies, firms or other parties registered in the register maintained under Section 301 of the Act.

4. The Company has not taken any loans, secured or unsecured, from companies, firms and other parties listed in the register maintained under Section 301 of the Act.

5. 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 for the purchase of inventory, fixed assets and for the sale of goods and services. During the course of Audit no major weakness has been noticed in the internal control system.

6. 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 In our opinion and according to the information and explanations given to us, the transactions made in pursuance of such contracts or arrangement and exceeding the value of Rupees Five Lakhs 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.

7. The Company has not accepted any deposit from the Public within the meaning and provisions of Section 58A and 58AA of the Companies Act, 1956.

8. In our opinion, the Company has an internal audit system commensurate with its size and nature of its business.

9. We have broadly reviewed the books of account maintained by the Company in respect of products where, pursuant to the Rules made by the Central Government of India, the maintenance of cost records has been prescribed under Clause (d) of sub-section (1) of Section 209 of the Act, 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.

10. According to the information and explanations given to us and the records of the Company examined by us, in our opinion, the Company is generally regular in depositing the undisputed statutory dues including provident fund, investor education and protection fund, employees' state insurance, income-tax, sales-tax, wealth tax, service tax, customs duty, excise duty, and other statutory dues as applicable with the appropriate authorities. There are no outstanding dues in respect of the above items, which are more than six months as at the balance sheet date.

11. The Company has no accumulated losses as at 31st March, 2012 and it has not incurred any cash losses in the financial year ended on that date or in the immediately preceding financial year.

12. According to the records of the Company examined by us and the information and explanation given to us, the Company has not defaulted in repayment of dues to any financial institution or bank.

13. The Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

14. The provisions of any special statute applicable to chit fund/nidhi/mutual benefit fund/societies are not applicable to the Company.

15. In our opinion the company is not a dealer or trader in shares, securities, debentures and other investments.

16. In our opinion and according to the information and explanations given to us the Company has not given guarantees for loans taken by others from banks and other financial institutions

17. The Term Loans obtained by the Company have been applied for the purposes for which they were obtained.

18. On the basis of an overall examination of the balance sheet of the Company, in our opinion and according to the information and explanations given to us, there are no funds raised on a short-term basis which have been used for long-term investment.

19. During the year, 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.

20. The Company has not issued any debentures during the year.

21. The Company has not raised any money by public issues during the year.

22. During the course of our examination of the books and records of the Company, carried out in accordance with the generally accepted auditing practices in India, and according to the information and explanations given to us, we have neither come across any instance of fraud on or by the Company, noticed or reported during the year, nor have we been informed of such case by the Management.

For M/S R.N.R. Iyer and Co.,

Chartered Accountants

Firm Registration No 103786W

Rajkumar Iyer

(Proprietor) Membership No 33964

Place : Mumbai

Dated : 30/08/2012