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National Aluminium Company Ltd.

BSE: 532234 | NSE: NATIONALUM |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE139A01034 | SECTOR: Aluminium

BSE Live

Oct 19, 16:00
114.15 -7.50 (-6.17%)
Volume
AVERAGE VOLUME
5-Day
3,738,704
10-Day
3,204,706
30-Day
2,721,981
2,985,834
  • Prev. Close

    121.65

  • Open Price

    123.75

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Oct 19, 16:00
114.05 -7.65 (-6.29%)
Volume
AVERAGE VOLUME
5-Day
66,458,097
10-Day
55,028,658
30-Day
42,931,349
50,511,384
  • Prev. Close

    121.70

  • Open Price

    123.55

  • Bid Price (Qty.)

    114.05 (35240)

  • 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 NATIONAL ALUMINIUM COMPANY LIMITED, as at 31st March, 2011, the Profit and Loss Account and the Cash Flow Statement of the Company for the year ended on that date, both annexed thereto. 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 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 misstatements. 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 the 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 (Auditor''s Report) Order, 2003 (CARO) issued by the Central Government in terms of Section 227(4 A) of the Companies Act, 1956, we give 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 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 it appears from our examination of those books; c. the Balance Sheet, the Profit and Loss Account and the 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 Section 211(3c) of the Companies Act, 1956/ e. In terms of Government of India, Ministry of Finance, Department of Company Affairs, Notification No.GSR 829 (E) dated 21st October,2003, Government Companies are exempt from the applicability of provisions 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 said accounts read with significant accounting policies and notes on accounts appearing in Schedule Y and Schedule Z respectively 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 affairs of the Company as at 31st March, 2011. ii. in the case of the Profit & Loss Account, of the profit of the Company for the year ended on that date and iii. In the case of the Cash Flow Statement, of the cash flows of the Company for the year ended on that date. ANNEXURE TO THE AUDITORS''REPORT (REFERRED TO IN PARAGRAPH (3) OF OUR REPORT OF EVEN DATE) 1. (a) The company has maintained records showing full particulars including quantitative details and situation of fixed assets. (b) The company has a programme of conducting physical verification of non-movable assets at an interval of three years, which in our opinion is reasonable having regard to the size of the company and nature of its assets. All the movable assets were physically verified during the year. As informed to us, no material discrepancies were noticed on such verification wherever reconciliations have been carried out and the same has been adjusted in the books. (c) In our opinion and according to the information and explanations, the Company has not disposed off substantial part of fixed assets during the year. 2. (a) In respect of its inventories as explained to us, all inventories except stocks relating to expansion project, stocks lying with third parties and stocks in-transit, have been physically verified by the management at reasonable intervals during the year. (b) In our opinion and according to the information and explanations given to us, the procedures for physical verification of inventories followed by the management were reasonable and adequate in relation to the size of the Company and the nature of its business. (c) In our opinion and according to the information and explanations given to us, the Company has maintained proper records of its inventories. The discrepancies noticed on physical stock and book records relating to shortages have been dealt with in the books of account, while excesses have been ignored. 3. (a) According to information and explanations given to us, the Company has neither granted nor taken any loans, secured or unsecured, to/from Companies, firms or other parties listed in the Register maintained under section 301 of the Companies Act, 1956. Consequently, clauses (iii)(a) to (g) of paragraph 4 of the order are not applicable. 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 with regard to purchases of inventory and fixed assets and the sale of goods and services. During the course of our audit, we have not observed any major weakness in the internal control system. 5. According to information and explanations given to us, the Company has not entered into any contracts or arrangements which require to be recorded in register maintained under section 301 of the Companies Act, 1956. 6. The Company has not accepted any deposits from the public during the year. 7. In our opinion, the Company has an adequate internal audit system commensurate with the size and nature of its business. 8. We have broadly reviewed the books of accounts 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 in respect of manufacturing activities 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 determining whether they are accurate and complete. 9. According to the information and explanations given to us and on the basis of our examination of the books of accounts, the Company is generally regular in depositing undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Income Tax, Sales Tax, Wealth Tax, Service Tax, Custom Duty, Excise duty, Cess and Electricity Duty with the appropriate authority. According to the information and explanations given to us, no undisputed amounts are payable in respect of Income Tax, Sales Tax, Wealth Tax, Service Tax, Custom Duty, Excise duty, Cess and other material statutory dues in arrears as at 31st March, 2011 for a period of more than six months from the date on which they become payable. According to the information and explanations given to us, there are disputed statutory dues which have not been deposited are given herein below: Statute Nature of Dues Amount Amount Forum where disputed deposited disputes are Rs. in Crore Rs. in Crore pending Sales Tax Sales Tax 141.11 17.02 Commissionrate 309.46 73.76 Tribunal 5.04 4.21 High Court 455.61 94.99 Entry Tax Entry Tax 36.14 13.47 Commissionrate 30.48 21.55 Tribunal 8.46 4.1 High court 75.08 39.13 Central Excise Act,1944 Excise Duty 63.31 2.54 Commissionrate 36.42 0.59 Tribunal 99.73 3.13 Customs Act, 1962 Customs Duty 0.06 0.06 Commissionrate 0.06 0.06 Income Tax Act,1961 Income Tax 193.68 201.83 Commissionrate 82.82 82.33 Tribunal 276.50 284.16 906.98 421.47 10. The Company does not have accumulated losses at the end of the financial year. The company has not incurred cash losses during the financial year covered by the audit and in the immediately preceding financial year. 11. In our opinion and according to the information and explanations given to us, the Company has not defaulted in repayment of dues to financial institutions, banks and debenture holders. 12. Based on our examination of the records and the information and explanations given to us , the Company has not granted any loans 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/nidhi/mutual benefit fund/ society. Therefore, the provisions of clause (xiii) of paragraph 4 of the order are not applicable to the company. 14. The Company is not dealing or trading in shares , securities, debentures and other investments. Therefore the provisions of clause 4(xiv) of the order are not applicable to the company. 15. According to the informationand explanations given to us, the Company has not given any guarantee for loans taken by others from banks or financial institutions. 16. Based on our examinations of the records and the information and explanations given to us, the Company has not raised any term loan during the year under audit. 17. According to the information and explanations and on an overall examination of the Balance Sheet of the Company, we report that no funds raised on short-term basis have been used for long- term investment of the company. 18. According to the information and explanations given to us, the Company has not made any preferential allotment of shares to Companies, firm or other parties covered in the register maintained under section 301 of the Companies Act, 1956. 19. Based on our examination of the records and the information and explanations given to us, the Company has not issued debenture during the year. 20. TheCompVnThas not raised any money by way of public issue during the year. 21. To the best of our knowledge and belief and according to the information and explanations given to us, no fraud on or by the Company has been noticed or reported during the course of our audit. For P.A. & Associates For C.K.Prusty & Associates Chartered Accountants Chartered Accountants FRN 313085E FRN 323220E (CAS.S.Poddar) (CA C.K. Prusty) Partner Partner Membership No.51113 Membership No.57318 Place: New Delhi Date : 30th May,2011