Moneycontrol
Get App
SENSEX NIFTY
you are here:

NCC Ltd.

BSE: 500294 | NSE: NCC |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE868B01028 | SECTOR: Construction & Contracting - Civil

BSE Live

Apr 03, 16:00
16.95 -1.75 (-9.36%)
Volume
AVERAGE VOLUME
5-Day
1,257,309
10-Day
1,518,323
30-Day
2,422,573
1,672,807
  • Prev. Close

    18.70

  • Open Price

    18.70

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Apr 03, 15:59
16.95 -1.75 (-9.36%)
Volume
AVERAGE VOLUME
5-Day
28,114,337
10-Day
24,970,481
30-Day
29,752,394
23,953,535
  • Prev. Close

    18.70

  • Open Price

    18.70

  • Bid Price (Qty.)

    16.95 (54802)

  • Offer Price (Qty.)

    0.00 (0)

Annual Report

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

Auditor's Report

Report on the Financial Statements We have audited the accompanying financial statements of NCC Limited (the Company)'' which comprise the Balance Sheet as at March 31'' 2013'' the Statement of Profit and Loss and the Cash Flow Statement for the year then ended'' and a summary of the significant accounting policies and other explanatory information'' in which are incorporated the returns for the year ended on that date audited by branch auditors of the Company''s overseas branches at Oman and Nepal (the Branches) audited by other auditors. Management''s Responsibility for the Financial Statements The Company''s Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position'' financial performance and cash flows of the Company in accordance with the Accounting Standards referred to in Section 211(3C) of the Companies Act'' 1956 (the Act) and in accordance with the accounting principles generally accepted in India. This responsibility includes the design'' implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement'' whether due to fraud or error. Auditors'' Responsibility Our responsibility is to express an opinion on these financial 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 financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the financial statements. The procedures selected depend on the auditor''s judgment'' including the assessment of the risks of material misstatement of the financial 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 financial 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 Company''s internal control. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Management'' as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient 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'' and based on the consideration of the reports on the accounts of the Company''s overseas branches audited by the branch auditors which have been forwarded to us and have been properly dealt with'' the aforesaid financial 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'' 2013; (b) in the case of the Statement of Profit and Loss'' of the profit of the Company for the year ended on that date; and (c) in the case of the Cash Flow Statement'' of the cash flows of the Company 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 (the Order) issued by the Central Government in terms of Section 227(4A)oftheAct'' we give in theAnnexure a statement on the matters specified 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 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 and proper returns adequate for the purposes of our audit have been received from the branches not visited by us. (c) The Balance Sheet'' the Statement of Profit and Loss'' and the Cash Flow Statement dealt with by this Report are in agreement with the books of account and with the returns received from the branches not visited by us. (d) In our opinion'' the Balance Sheet'' the Statement of Profit and Loss and the Cash Flow Statement comply with the Accounting Standards referred to in Section 211(3C) of the Act. (e) On the basis of the written representations received from the directors as on March 31'' 2013'' and taken on record by the Board of Directors'' none of the directors is disqualified as on March 31'' 2013'' from being appointed as a director in terms of Section 274(1 )(g) of the Act. (i) Having regard to the nature of the Company''s business/ activities/results during the year'' clauses (vi)'' (x)'' (xii)'' (xiii)'' (xiv)'' (xviii) and (xx) of the paragraph 4 of the Order are not applicable to the Company. (ii) In respect of its fixed assets: (a) The Company has maintained proper records showing full particulars'' including quantitative details and situation of fixed assets. (b) A major portion of the fixed assets have been physically verified during the year by the Management in accordance with a programme of verification'' which'' in our opinion'' provides for physical verification of all the fixed assets at reasonable intervals having regard to the size of the Company and the nature of its assets. According to the information and explanations given to us'' the discrepancies noticed on such verification were not material and have been properly dealt with in the books of account. (c) The fixed assets disposed off during the year'' in our opinion'' do not constitute substantial part of the fixed assets of the Company and such disposal has'' in our opinion'' not affected the going concern status of the Company. (iii) In respect of its inventories: (a) According to the information and explanations given to us'' the Management has physically verified the inventories during the year. In our opinion'' having regard to the nature of business and location of stocks'' the frequency of verification is reasonable. (b) In our opinion and according to the information and explanations given to us'' the procedures of physical verification 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 according to the information and explanations given to us'' the Company has maintained proper records of its inventories. The discrepancies noticed on verification between the physical stocks and the book records were not material and have been properly dealt in the books of account. (iv) In respect of loans'' secured or unsecured'' granted / taken by the Company to companies'' firms or other parties covered in the Register maintained under Section 301 of the Companies Act 1956'' according to the information and explanations given to us: (a) The Company has granted loans repayable as per the terms'' aggregating Rs. 1''093.76 million to five parties during the year. The outstanding balances at the end of the year of such loans aggregated Rs. 6''849.24 million (Six parties) the maximum amount involved during the year was Rs. 6''869.04 million (Six parties). (b) In our opinion'' the rate of interest and other terms and conditions of such loans are prima facie not prejudicial to the interest of the Company. (c) The receipts of principal amounts and interest have been regular during the year. (d) There is no overdue amount in respect of the aforesaid loans. (e) 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 accordingly'' clauses (iii) (f) and (g) of paragraph 4 of the Order are not applicable. (v) In our opinion and according to the information and explanations given to us'' there are adequate internal control systems commensurate with the size of the Company and the nature of its business for the purchase of inventory and fixed assets and sale of goods and services. During the course of our audit'' we have not observed any major weakness in such internal system. (vi) In respect of contracts or arrangements entered in the Register maintained in pursuance of section 301 of the Companies Act'' 1956'' to the best of our knowledge and belief and according to the information and explanations given to us: (a) The particulars of contracts or arrangements referred to in section 301 that needed to be entered in to the register maintained under the said section have been so entered. (b) In our opinion'' the transactions (excluding loans reported under paragraph (iii) above) exceeding the value of Rs. 5 lakhs in respect of any party during the year have been made at prices which are prima facie reasonable having regard to the prevailing market prices at the relevant time'' where such market prices are available. (vii) In our opinion'' the internal audit function carried out during the year by firm of Chartered Accountants and by an external agency appointed by the Management is commensurate with the size of the Company and the nature of its business. (viii) We have broadly reviewed the cost records maintained by the Company pursuant to the Companies (Cost Accounting Records) Rules'' 2011 prescribed by the Central Government under Section 209(1 )(d) of the Companies Act'' 1956 and are of the opinion that'' prima facie'' the prescribed cost records have been maintained. We have'' however'' not made a detailed examination of the cost records with a view to determine whether they are accurate or complete. (ix) According to the information and explanation given to us in respect of statutory dues: (a) The Company has generally 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 any other material statutory dues applicable to it with the appropriate authorities during the year. (b) There were no undisputed amounts payable in respect of Provident Fund'' Investor Education and Protection Fund'' Employees'' State Insurance'' Income-tax'' Sales Tax'' Wealth Tax'' Service Tax'' Customs Duty'' Excise Duty'' Cess and any other material statutory dues in arrears as at March 31'' 2013 for a period of more than six months from the date they became payable. (c) Details of dues of Income-tax'' Sales Tax/VAT'' Service Tax'' Customs Duty'' Excise Duty and Cess which have not been deposited as on March 31'' 2013 on account of disputes are given below: Statute Nature of Forum where dispute is pending dues Sales Tax and VAT Laws Sales Tax Hon''ble High Court of Andhra Pradesh Sales Tax Sales Tax Appellate Tribunal'' Andhra Pradesh VAT Appellate Additional Commissioner'' Uttar Pradesh VAT Deputy Commissioner of Sales tax (Appeals)'' Assam VAT Commissioner of Commercial taxes'' Jharkhand Sales Tax Hon''ble High Court of Tamil Nadu. VAT Appellate Deputy Commissioner'' Haryana VAT Sr.Joint Commissioner (Appeals)'' West Bengal VAT Appellate Deputy Commissioner'' Kerala Central Excise Laws Excise Duty CESTAT'' Bangalore Finance Act'' 1994 Service Tax CESTAT'' Bangalore Customs Act'' 1962 Customs CESTAT'' Mumbai Income-tax Act'' 1961 Income tax CIT (Appeals) Statute Period to which the Amount involved amount relates (Rs.in Million) Sales Tax and VAT Laws 1994 - 1995 1.67 1999-2004 & 2006-2007 57.00 2005-2009 102.37 2005-2007 184.10 2009-2010 14.97 2006-2007 4.36 2007-2010 40.82 2008-2010 684.63 2007-2009 23.99 2007-2009 5.73 2005-2011 1''103.95 2010-2011 10.29 2005-2012 100.20 There are no disputed dues of Wealth Tax which have not been deposited as on March 31'' 2013. (x) In our opinion and according to the information and explanations given to us'' the Company has not defaulted in repayment of dues to banks'' financial institutions and debenture holders. (xi) In our opinion and according to the information and explanations given to us'' the terms and conditions of the guarantees given by the Company for loans taken by others from banks and financial institutions are not prima facie prejudicial to the interests of the Company. (xii) To the best of our knowledge and belief and according to the information and explanations given to us'' in our opinion'' term loans availed by the Company were'' prima facie'' applied by the Company during the year for the purposes for which the loans were obtained. (xiii) In our opinion and according to the information and explanations given to us'' and on an overall examination of the balance sheet of the Company'' we report that funds raised on short-term basis have'' prima facie'' not been used during the year for long-term investment. (xiv) According to the information and explanations given to us and records examined by us'' securities/charges have been created in respect of debentures issued. (xv) To the best of our knowledge and according to the information and explanations given to us'' no material fraud on or by the Company was noticed or reported during the year. For M. Bhaskara Rao & Co. For Deloitte Haskins & Sells Chartered Accountants Chartered Accountants (Registration No.000459S) (Registration No. 008072S) M V Ramana Murthy Ganesh Balakrishnan Partner Partner Membership No. 206439 Membership No. 201193 Hyderabad'' May 22'' 2013