Presenting Partner

Life Insurance Corporation of India

Moneycontrol

Budget 2022

Associate Partners:

  • Kotak Mutual Fund
  • Pharmeasy
  • Indiabulls
  • SBI

Presenting Partner

Life Insurance Corporation of India

Moneycontrol

Budget 2022

Technology Partner

Dell Technologies

Associate Partners

Kotak Mutual Fund
Pharmeasy
Indiabulls
SBI
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NOCIL Ltd.

BSE: 500730 | NSE: NOCIL |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE163A01018 | SECTOR: Petrochemicals

BSE Live

Jan 25, 16:00
231.40 6.70 (2.98%)
Volume
AVERAGE VOLUME
5-Day
98,200
10-Day
82,433
30-Day
92,939
83,202
  • Prev. Close

    224.70

  • Open Price

    224.75

  • Bid Price (Qty.)

    228.00 (411)

  • Offer Price (Qty.)

    230.20 (75)

NSE Live

Jan 25, 15:59
230.85 6.05 (2.69%)
Volume
AVERAGE VOLUME
5-Day
606,895
10-Day
610,639
30-Day
823,795
605,405
  • Prev. Close

    224.80

  • Open Price

    221.80

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    230.85 (10565)

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 Organic Chemical Industries Limited as at 31 March 2007 and also the Profit and Loss Account and 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, issued by the Central Government 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 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 appears from our examination of those books. c) The Balance Sheet, Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with the above books of account. d) 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. e) On the basis of written representations received from the Directors as on 31 March 2007 and taken on record by the Board of Directors, we report that none of the directors are disqualified as on 31 March 2007 from being appointed as a director in terms of clause (g) of sub-section (1) of Section 274 of the Companies Act, 1956 on the said date. f) In our opinion and to the best of our information and according to the explanations given to us, the accounts read together with the notes thereon, 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 31 March 2007; ii) in the case of the Profit and Loss Account, of the profit for the year ended on that date; and iii) in the case of the Cash Flow Statement, of the cash flows for the year ended on that date. Annexure to the Auditors Report (Referred to in paragraph 3 of our report of even date) 1. The nature of the Companys business / activities during the year is such that clauses (i-c), (iii), (viii), (x), (xiii), (xiv), (xv), (xvi), (xviii), (xix) and (xx) of the Order are not applicable to the Company. 2. 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) Some 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. According to the information and explanation given to us no material discrepancies were noticed on such verification. 3. In respect of its inventories: a) As explained to us, inventories were physically verified 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 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 and no material discrepancies were noticed on physical verification. 4. 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 for sale of goods. The nature of the companys activities is such that there is no sale of services during the year. We have not observed any continuing failure to correct major weaknesses in such internal control system. 5. In respect of contracts or arrangements to be entered in the register maintained in pursuance of section 301 of the Companies Act, 1956, to the best of our knowledge and belief and accordingly to the information and explanations given to us: a) The particulars of contracts or arrangements that needed to be entered in the register, maintained under the said section have been so entered. (b) Where each of such transactions is in excess of Rs. 5 lakhs in respect of each party, the transaction have been made at prices which are prima facie reasonable having regard to the prevailing market prices at the relevant time. 6. The Company does not accept and renew fixed deposits from public. The Company however has old unclaimed balances of fixed deposits in respect of which in our opinion and according to the information- and explanations given to us, the Company has complied with the provisions of Section 58A and 58AA or any other relevant provisions of the Companies Act, 1956, and the Companies (Acceptance of Deposits) Rules, 1975. 7. In our opinion, the internal audit function carried out during the year by a firm of Chartered Accountants appointed by the management is commensurate with the size of the Company and the nature of its business. 8. In respect of its statutory dues according to the information and explanations given to us: a) The Company has been generally regular in depositing undisputed statutory dues, including Provident Fund, Income Tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty, Cess, Investor Education and Protection Fund, Employee State Insurance, Sales Tax and any other material statutory dues with the appropriate authorities during the year. b) Details of disputed statutory dues which have not been deposited with the appropriate authority as at 31 March 2007 are given below: Name of Nature of Amount Statute the dues (Rs. in lakhs) Central Excise Act, 1961 Excise Duty 91.85 8.92 33.55 4.76 5.78 Customs Act, 1962 Custom Duty 718.77 1.64 Central Sales Tax Act, 1956 Sales Tax 364.35 and Various State Sales 274.29 Tax Acts 140.56 Period to which Forum where the amount relates dispute is pending 1991 to 1999, 2005 Commissioner - Central Excise Appeal 1994 to 1996, 2005 Assisstant Commissioner_ 1992,2001,1997-98 CEGAT_ 1996 to 1998 Customs, Excise and Service Tax 2001 Appellate Tribunal (CESTAT) High Court 1998 to 2000 & 2004 CESTAT 2004-05 Custom (Appeal) 1995 to 1999 and 2003 Appellate Tribunal_ 1984 to 1990 and Deputy Commissioner 1994 to 2002 Sales Tax Appeals_ 1987 to 1992, 1995 to Assistant Commissioner/ 2004 Assessing officer 9. In our opinion the Company has not defaulted in repayment of dues to the bank. 10. In our opinion the Company has maintained adequate documents and records in respect of loan granted in earlier years for which the security by way of pledge of shares is created during the year. 11. According to the information and explanations given to us, and on an overall examination of the Balance Sheet of the Company, funds raised on short-term basis have, prima facie, not been used during the year for long-term investment. 12. To the best of our knowledge and belief 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 C. C. Chokshi & Co. Chartered Accountants P. B. Pardiwalla Place : Mumbai Partner Date : 4 June 2007 (Membership No.40005)