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Munjal Showa Ltd.

BSE: 520043 | NSE: MUNJALSHOW |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE577A01027 | SECTOR: Auto Ancillaries

BSE Live

Oct 25, 16:00
129.50 -5.00 (-3.72%)
Volume
AVERAGE VOLUME
5-Day
5,118
10-Day
6,251
30-Day
6,530
19,940
  • Prev. Close

    134.50

  • Open Price

    136.40

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Oct 25, 15:59
129.20 -4.70 (-3.51%)
Volume
AVERAGE VOLUME
5-Day
42,968
10-Day
43,611
30-Day
58,100
97,707
  • Prev. Close

    133.90

  • Open Price

    133.05

  • Bid Price (Qty.)

    129.20 (230)

  • Offer Price (Qty.)

    0.00 (0)

Annual Report

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

Auditor's Report

1. We have audited the attached Balance Sheet of Munjal Showa Limited (the Company) as at March 31, 2007 and also the Profit and Loss account and the cash flow statement for the year ended on that date annexed thereto. 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 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) 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 paragraphs 4 and 5 of the said Order. 4. Further to our comments in the Annexure referred to above, we report that: i). 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; ii). 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; iii). The balance sheet, profit and loss account and cash flow statement dealt with by this report are in agreement with the books of account; iv). In our opinion, the balance sheet, profit and loss account and cash flow statement dealt with by this report comply with the accounting standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956. v). On the basis of the written representations received from the directors, as on March 31, 2007, and taken on record by the Board of Directors, we report that none of the directors is disqualified as on March 31, 2007 from being appointed as a director in terms of clause (g) of sub-section (1) of section 274 of the Companies Act, 1956. vi). In our opinion and to the best of our information and according to the explanations given to us, the said accounts 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; a) in the case of the balance sheet, of the state of affairs of the Company as at March 31, 2007; b) in the case of the profit and loss account, of the profit for the year ended on that date; and c) in the case of cash flow statement, of the cash flows for the year ended on that date. Annexure referred to in paragraph 3 of our report of even date Re: Munjal Showa Limited 1. (a) The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets. (b) All fixed assets were physically verified by the management in the previous year in accordance with a planned programme of verifying them once in three years which, in our opinion is reasonable having regard to the size of the Company and the nature of its assets. As informed, no material discrepancies were noted on such verification. (c) There was no substantial disposal of fixed assets during the year. 2. (a) The management has conducted physical verification of inventory at reasonable intervals including at a date nearing or at the year end. (b) 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) The Company is maintaining proper records of inventory and no material discrepancies were noticed on physical verification carried at the end of the year. 3. (a) As informed to us, the Company has not granted any loans, secured or unsecured to comparlies, firms or other parties covered in the register maintained under Section 301 of the Companies Act, 1956. Therefore clause 4(iii)((b),(c) and (d)) of the Order are not applicable to the Company. (e) As informed to us, the Company has not taken any loans, secured or unsecured, from companies, firms or other parties covered in the register maintained under Section 301 of the Companies Act, 1956. Therefore clause 4(iii)((f)and (g)) of the Order are not applicable to the Company. 4. 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 and fixed assets and for the sale of goods. As no services are provided, the clause is not applicable to the extent of services. During the course of our audit, no major weakness has been noticed in the internal control system in respect of these areas. 5. (a) According to the information and explanations provided by the management, we are of the opinion that the particulars of contracts or arrangements referred to in Section 301 of the Act that need to be entered into the register maintained under section 301 have been so entered. (b) In respect of transactions with parties with whom transactions exceeding value of Rupees five lakhs have been entered into during the financial year, because of the unique and specialized nature of the items involved and absence of any comparable prices, we are unable to comment whether the transactions were made at prevailing market prices at the relevant time 6. The Company has not accepted any deposits from the public. 7. The Companys internal audit is undertaken by an independent firm and the scope and coverage thereof is commensurate with its size and the nature of its business. 8. We have broadly reviewed the books of account maintained by the Company pursuant to the Rules made by the Central Government for the maintenance of cost records 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 determining whether they are accurate or complete. 9. (a) The Company has been regular in depositing 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 and other material statutory dues applicable to it with the appropriate authorities. (b) According to the information and explanations given to us, no undisputed amounts payable in respect of provident fund, investor education and protection fund, employees state insurance, income-tax, wealth-tax, sales-tax, customs duty, excise duty, cess and other undisputed statutory dues were outstanding, at the year end, for a period of more than six months from the date they became payable. (c) According to the records of the Company, there are no dues outstanding of sales tax, income tax, custom tax, wealth tax, excise duty and cess on account of any dispute, other than the following: Name of the statute Nature of dues Amount in Rs. Forum where dispute is pending Customs Act, 1962 Interest demanded by 356,047 Assistant customs authorities Commissioner of Customs 10. The Company has no accumulated losses at the end of the financial year and it has not incurred any cash losses in the current and immediately preceding financial year. 11. Based on our audit procedures and as per the information and explanations given by the management, we are of the opinion that the Company has not defaulted in repayment of dues to any bank. The Company did not have any dues from any financial institution or any outstanding debentures during the year. 12. According to the information and explanations given to us and based on the documents and records produced 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. 13. In our opinion, 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. 14. In respect of Companys investments in various schemes managed by recognized mutual funds, in our opinion and according to the information and explanations given to us, proper records have been maintained of the transactions and contracts and timely entries have been made therein. These investments have been held by the Company, in its own name. 15. According to the information and explanations given to us, the Company has not given any guarantee for loans taken by others from bank or financial institutions. 16. Based on information and explanations given to us by the management, term loans were applied for the purpose for which the loans were obtained. 17. According to the information and explanations given to us and on an overall examination of the balance sheet and cash flow statement of the Company, we report that no funds raised on short- term basis have been used for long-term investment and no long-term funds have been used to finance short-term assets (excludes permanent working capital). 18. The Company has not made any allotment of shares during the year. 19. The Company did not have any outstanding debentures during the year. 20. The Company has not raised any money through a public issue during the year. 21. Based upon the audit procedures performed for the purpose of reporting the true and fair view of the financial statements and as per the information and explanations given by the management, we report that no fraud on or by the Company has been noticed or reported during the course of our audit. For S.R. Batliboi & Co. Chartered Accountants per Pankaj Chadha Place : Gurgaon Partner Date : May 23, 2007 Membership No.: 91813