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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

Nov 29, 16:00
88.40 0.35 (0.40%)
Volume
AVERAGE VOLUME
5-Day
2,691,511
10-Day
2,297,333
30-Day
2,661,225
2,122,140
  • Prev. Close

    88.05

  • Open Price

    88.90

  • Bid Price (Qty.)

    88.40 (495)

  • Offer Price (Qty.)

    88.40 (1016)

NSE Live

Nov 29, 15:59
88.35 0.25 (0.28%)
Volume
AVERAGE VOLUME
5-Day
35,110,994
10-Day
29,560,454
30-Day
38,025,876
37,838,264
  • Prev. Close

    88.10

  • Open Price

    88.50

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    88.35 (13273)

Annual Report

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

Auditor's Report

1. We have audited the attached Balance Shed of NATIONAL ALUMINIUM COMPANY LIMITED, as at 31st March. 2012. the Profit and Loss Statement and the Cash Flow Statement of the Company for Una year ended on trial date, both annexed hereto. These financial statements ere 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 misstatement. An audit includes examining, on a teat basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes examining, the accounting principle 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.

i. As required by the Companies (Auditor's Report} Order. 2003 as amended by the Companies (Auditor's Report) (Amendment) Orders, 2004, Issued by the Central Government in terms of Section 227 (4A) 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 end 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 me Company so for as appears from our examination of those books;

c. The Balance Sheet, Profit and Loss Statement and Cash Flow Statement dealt with by this report are in agreement with the books of account;

d. In our opinion, the Balance Sheet, Profit and Loss Statement end Cash Flow Statement dealt with by this, report comply 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 best of our information and according to the explanations given to us, the said accounts read with significant accounting policies 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, 2012;

II. In the case of the Profit & Loss Statement 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)

i) (a) The Company has maintained proper records showing full particulars. Including quantitative details and situation of fixed assets:

(b) Non-movable assets have been physically verified by the Management at an interval of three years, which in our opinion is reasonable having regard to the see of the Company and the nature of its assets.

All the movable assets have been physically verified by a Firm of Chartered Accountants during the year.

As informed to us, no material discrepancies between book records and physical asset have been noticed:

(c) In our opinion and according to the information and explanations given to us, the Company has not disposed off a substantial part of fixed assets during the year end the going concern assumption of the Company has not been affected.

ii) (a) In respect of its inventory, 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 a Firm of Chartered Accountants at reasonable intervals during the year.

(b) In our opinion and according to the information end explanations given to us, the procedures of physical verification of Inventory followed by the management ere 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 inventory. The discrepancies noticed on physical verification and book records relating to shortage have been dealt with in the books of account, while excess have been ignored.

iii) (a) According to Information and explanations given to us, the Company has not granted any loans, secured or unsecured, to Companies, firms or other parties covered in the register maintained under Section 301 of the Companies Act 1956. Consequently, clauses (III) (b) to (d) of paragraph 4 of the Order are not applicable;

(v) 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 end for the sale of goods and services. During the course of our audit, we have not observed any major weakness in the Internal control system;

v) According to Information and explanations given to us, the Company has not entered into any contract or arrangement which requires to be entered in register maintained under section 301 of the Companies Act, 1956;

vi) In our opinion and as per the information and explanations given to us, the Company has not accepted deposits from the public during the year within the meaning of sections 58A, 58AA or any other relevant provisions of the Companies Act, 1956 and the Rules fanned thereunder;

vii) In our opinion, the Company has an internal audit system commensurate with the size and nature of its business;

viii) 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 in respect of manufacturing activities end 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:

ix) (a) According to information and explanations given to us and on the basis of our examination of the books of account, the Company is generally 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 Electricity Duty with the appropriate authorities;

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 Duly, Excise Duty, Cess and any other material statutory dues as at 31st March, 2012 for a period of more than six months from the date they became payable;

(b) According to the information and explanations given to us, there are disputed statutory dues which have not been deposited era given below:

Statute Nature of Amount Amount Forum where Dues disputed deposited disputes are Rs. in Rs. in pending Crore Crore

Sales Tax Sales Tax 44.09 4.62 Commissioner 215.02 61.75 Tribunal 210.24 33.56 High Court 469.35 99.93

Entry Tax Entry Tax 59.71 7.93 Commissioner 45.09 23.98 Tribunal 5.29 0.00 High Court 110.09 31.91

Central Excise Duty 10.8O 2.50 Commissioner Excise 17.98 0.59 Tribunal Act, 1944 59.26 0.00 High Court 88.04 3.09

Customs Customs Duty 0.77 0.05 Commissioner Act, 1962 0.08 0.00 Tribunal 0.85 0.05 High Court

Income Tax Income Tax 234.91 178.77 Commissioner Act, 1961 118.65 104.84 Tribunal 8.05 0.00 High Court 361.61 283.61 TOTAL 1029.94 418.59

x) The Company does not have accumulated losses at the end of the financial year. The Company has no: Incurred cash losses during the financial year and in the immediately preceding financial year;

xi) In our opinion and according to the information and explanations given to us, the Company has not defaulted In repayment of dues to any financial Institutions or banks or debenture holders;

xii) Based on our examination of the records and the information and explanations given to us, the Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures end other securities;

xiii) In our opinion the Company is note 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;

xiv) 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;

xv) According to the information and explanations given to us, the Company has not given any guarantee for loans taken by others from banks or financial institutions.

xvi) Based on our examination of records and the information and explanations given to us, the Company has not raised any term loan during the year under audit;

xvii) 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;

xviii) According to the information and explanations given to us the Company has not made any preferential allotment of shares to parties and Companies covered in the register maintained under Section 301 of the Companies Act, 1956.

xix) Based on our examination of the records and the information and explanations given to us, the Company has not issued any debentures during the year

xx) The Company has not raised any money by way of public Issues during the year;

xxi) 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 year.

For Agasti & Associates For C.K Prusty & Associates

Chartered Accountants Chartered Accountants FRN -313043E FRN 323220E

(CA. M. Bandyopadhyay) (CA. C.K. Prusty)

Partner (M .No.050968) Partner (M.No.05738)

Place : Maw Delhi

Dated: 21st May' 2012