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Mirza International Ltd.

BSE: 526642 | NSE: MIRZAINT |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE771A01026 | SECTOR: Leather Products

BSE Live

Oct 22, 16:00
63.40 -0.80 (-1.25%)
Volume
AVERAGE VOLUME
5-Day
127,647
10-Day
166,681
30-Day
100,696
75,693
  • Prev. Close

    64.20

  • Open Price

    65.00

  • Bid Price (Qty.)

    63.40 (50)

  • Offer Price (Qty.)

    63.40 (25)

NSE Live

Oct 22, 15:56
63.40 -0.80 (-1.25%)
Volume
AVERAGE VOLUME
5-Day
1,082,072
10-Day
1,511,426
30-Day
955,000
786,898
  • Prev. Close

    64.20

  • Open Price

    64.65

  • Bid Price (Qty.)

    63.40 (56)

  • Offer Price (Qty.)

    0.00 (0)

Annual Report

For Year :
2018 2017 2016 2015 2014 2013 2012 2011 2010

Auditor's Report

We have audited the accompanying fi nancial statements of Mirza International Limited (the Company), which comprise the Balance Sheet as at March 31, 2014, and the Statement of Profi t and Loss and Cash Flow Statement for the year then ended, and a summary of signifi cant accounting policies and other explanatory information. Management Responsibility for the Financial Statements Management is responsible for the preparation of these fi nancial statements that give a true and fair view of the fi nancial position, fi nancial performance and cash fl ows of the Company in accordance with the Accounting Standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956 (the Act) read with the General Circular 15/2013 dated 13 September 2013 of the Ministry of Corporate Affairs in respect of Section 133 of the Companies Act, 2013. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the fi nancial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error. Auditor''s Responsibility Our responsibility is to express an opinion on these fi nancial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the fi nancial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the fi nancial statements. The procedures selected depend on the auditor''s judgment, including the assessment of the risks of material misstatement of the fi nancial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company''s preparation and fair presentation of the fi nancial statements in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on the effectiveness of the entity''s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the fi nancial statements. We believe that the audit evidence we have obtained is suffi cient and appropriate to provide a basis for our audit opinion. Opinion In our opinion and to the best of our information and according to the explanations given to us, the fi nancial 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: a) in the case of the Balance Sheet, of the state of affairs of the Company as at March 31, 2014; b) in the case of the Statement of Profi t and Loss , of the profi t/ loss for the year ended on that date; and c) in the case of the Cash Flow Statement, of the cash fl ows for the year ended on that date. Report on Other Legal and Regulatory Requirements 1. As required by the Companies (Auditor''s Report) Order, 2003 (theOrder) issued by the Central Government of India in terms of sub-section (4A) of section 227 of the Act, we give in the Annexure a statement on the matters specifi ed in paragraphs 4 and 5 of the Order. 2. As required by section 227(3) of the Act, 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, Statement of Profi t and Loss, and Cash Flow Statement dealt with by this Report are in agreement with the books of account. d) In our opinion, the Balance Sheet, Statement of Profi t and Loss, and Cash Flow Statement comply with the Accounting Standards referred to in subsection (3C) of section 211 of the Companies Act, 1956 read with the General Circular 15/2013 dated 13 September 2013 of the Ministry of Corporate Affairs in respect of Section 133 of the Companies Act, 2013.; e) On the basis of written representations received from the directors as on March 31, 2014, and taken on record by the Board of Directors, none of the directors is disqualifi ed as on March 31, 2014, from being appointed as a director in terms of clause (g) of sub-section (1) of section 274 of the Companies Act, 1956. The Annexure to Independent Auditors'' Report Referred to in paragraph 1 under the heading of Report on other Legal and Regulatory Requirements of the Our Report of even date On the basis of such checks as we considered appropriate and according to the information and explanation given to us during the course of our audit, we report that: (i) (a) The Company has maintained proper books / records to show full particulars including quantitative details and situations of its fi xed assets. (b) As explained to us, all the assets of the company have been physically verifi ed by the management using a regular program of verifi cation by rotation, which, in our opinion is reasonable having regard to the size of the company and nature of its assets. No material discrepancies were noticed on such physical verifi cation. (c) Fixed assets disposed off during the year were not substantial and such sale has not affected the going concern of the company. (ii) (a) As explained to us, inventories have been physically verifi ed during the year by the management at reasonable intervals. (b) In our opinion and according to the information and explanations given to us, the procedures of physical verifi cation 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 on the basis of our examination of the records, the Company is generally maintaining proper records of its inventories. No material discrepancy was noticed on physical verifi cation of stocks by the management as compared to book records. (iii) (a) According to the information and explanations given to us and on the basis of our examination of the books of account, the Company has neither taken nor granted any loans, secured or unsecured, to companies, fi rms or other parties listed in the register maintained under Section 301 of the Companies Act, 1956. Consequently, the provisions of clauses iii (b), iii(c), iii (d), iii (e), iii (f), iii (g) of the order are not applicable to the Company. (iv) In our opinion and according to the information and explanations given to us, there is generally an adequate internal control procedure commensurate with the size of the company and the nature of its business, for the purchase of inventories & fi xed assets and payment for expenses & for sale of goods. During the course of our audit, no major instance of continuing failure to correct any weaknesses in the internal controls has been noticed. (v) a) Based on the audit procedures applied by us and according to the information and explanations provided by the management, 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) The transactions made in pursuance of contracts or arrangements entered in the register maintained under section 301 of the Companies Act 1956 are made at prices which are reasonable having regard to prevailing market prices at the relevant time. (vi) The Company has not accepted any deposits from the public covered under section 58A and 58AA of the Companies Act, 1956. (vii) As per information & explanations given by the management, the Company has an internal audit system commensurate with its size and the nature of its business. (viii) As We have broadly reviewed the books of accounts relating to materials, labour, and other items of cost maintained by the Company pursuant to the rules made by the Central Government, for the maintenance of cost records under clause (d) of subsection (1) of section 209 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 however, not made a detailed examination of the records with a view to determine whether they are accurate or complete. (ix) (a) According to the records of the company, 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 to the extent applicable and any other statutory dues have generally been regularly deposited with the appropriate authorities. (b) According to the information and explanations given to us there were no undisputed outstanding statutory dues as on 31st of March, 2014 for a period of more than six months from the date they became payable. (c) According to the information and explanations given to us, there is no amounts payable in respect of income tax, wealth tax, service tax, sales tax, customs duty and excise duty which have not been deposited on account of any disputes except the following Related To Authority where Financial Year Disputed Amount Case is pending remaining unpaid (Rs. in Lacs) Entry Tax/ Hon''ble High Court 1999-2000 4.06 Trade tax Entry Tax/ Hon''ble Supreme 2000-2001, 9.85 Trade tax Court 2003-2004, 2004-2005 Income Tax Income Tax 2007-08 relevant 10.43 Appellate Tribunal to AY 2008-09 Income Tax CIT Appeal 2008-09 relevant 5.95 to AY 2009-10 Service Tax Commissioner FY 2004-05 & 2.77 (Appeals), Central 2005-06 Excise & Service Tax, Kanpur Stamp Duty Collector (Stamps) 29.35 TOTAL 62.41 (x) The Company does not have any accumulated loss and has not incurred cash loss during the fi nancial year covered by our audit and in the immediately preceding fi nancial year. (xi) Based on our audit procedures and on the information and explanations given by the management, we are of the opinion that, the Company has not defaulted in repayment of dues to a fi nancial institution, bank or debenture holders. (xii) According to the information and explanations given to us, 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 or a nidhi /mutual benefi t fund/society. Therefore, the provision of this clause of the Companies (Auditor''s Report) Order, 2003 (as amended) is not applicable to the Company. (xiv) According to information and explanations given to us, the Company is not trading in Shares, Mutual funds & other Investments. Therefore, the provision of this clause of the Companies (Auditor''s Report) Order, 2003 (as amended) is not applicable to the Company. (xv) According to the information and explanations given to us, the Company has not given any guarantees for loan taken by others from a bank or fi nancial institution. (xvi) In our opinion, the term loan raised by the company during the year has been applied for the purpose for which it was raised. (xvii) Based on the information and explanations given to us and on an overall examination of the Balance Sheet of the Company as at 31st March, 2014, we report that no funds raised on short-term basis have been used for long-term investment by the Company. (xviii) Based on the audit procedures performed and the information and explanations given to us by the management, we report that the Company has not made any preferential allotment of shares during the year. (xix) The Company has no outstanding debentures during the period under audit. (xx) The Company has not raised any money by public issue during the year. (xxi) Based on the audit procedures performed and the information and explanations given to us, we report that no fraud on or by the Company has been noticed or reported during the year, nor have we been informed of such case by the management. For Khamesra Bhatia & Mehrotra. Chartered Accountants FRN:001410C Anand Saxena Place: Kanpur (Partner) Date: May 24, 2014 M No. :075801