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RSWM Ltd.

BSE: 500350 | NSE: RSWM |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE611A01016 | SECTOR: Textiles - Spinning - Synthetic Blended

BSE Live

Oct 19, 15:57
334.40 1.60 (0.48%)
Volume
AVERAGE VOLUME
5-Day
9,042
10-Day
11,969
30-Day
8,319
14,915
  • Prev. Close

    332.80

  • Open Price

    338.95

  • Bid Price (Qty.)

    330.40 (10)

  • Offer Price (Qty.)

    334.40 (106)

NSE Live

Oct 19, 15:59
334.60 0.50 (0.15%)
Volume
AVERAGE VOLUME
5-Day
177,447
10-Day
184,078
30-Day
96,919
312,505
  • Prev. Close

    334.10

  • Open Price

    336.95

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    334.60 (447)

Annual Report

For Year :
2018 2016 2015 2014 2013 2012 2011 2010 2009

Auditor's Report

We have audited the attached Balance Sheet of RSWM Limited (formerly known as RAJASTHAN SPINNING & WEAVING MILLS LIMITED) as at 31st March, 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. 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 misstaternent. 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. As required by the Companies (Auditors Report) Order, 2003 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. Further to our comments in the Annexure referred to above, we report that: (i) We have obtained all the informations 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 written representations received from the Directors, as on 31st March, 2007, and taken on record by the Board of Directors, we report that none of the Directors is disqualified as on 31st 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; (vi) In our opinion and to the best of our information and according to the explanations given to us, the said accounts read together with 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 : (a) in the case of the Balance Sheet, of the state of affairs of the Company as at 31st March, 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 TO THE AUDITORS REPORT Annexure referred to in paragraph 3 of our report of even date to the Shareholders of RSWM Limited (formerly known as RAJASTHAN SPINNING & WEAVING MILLS LIMITED) on accounts for the year ended 31st March, 2007. (i) (a) The Fixed Assets Register showing full particulars including quantitative details and situation of the assets is being maintained. (b) The fixed assets are physically verified by the Management in a phased programme designed to cover all the Assets over a period of three years, which in our opinion, is reasonable having regard to the size of the Company and the nature of its assets. Pursuant to the said programme, a portion of Fixed Assets has been physically verified by the management during the year and no serious discrepancies were noticed on such verification between the book records and physical inventory. (c) The Company had not sold any substantial part of plant and machinery during the year except to replace old plant and machinery for upgradation, modernisation cum expansion plan which do not affect the going concern status of the Company. (ii) (a) The Inventories have been physically verified during the year by the management. In our opinion the frequency of verification is reasonable. (b) In our opinion and according to information and explanation given to us, the procedure 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. (iii) (a) The Company has granted unsecured loan to one Company covered in the register maintained under Section 301 of the Companies Act, 1956. The amount outstanding at the end of the year and the maximum amount during the year was Rs.7.00 crore. (b) In our opinion, in respect of unsecured loan granted, where the covenants of repayments are on demand, the rate of interest and other terms and conditions are not prima-facie prejudicial to the interest of the Company. (c) The payment of interest on such loans is regular. The payment of principal amount are also regular, wherever demanded during the year. (d) There is no overdue amount outstanding at the Balance Sheet date. (e) The Company had not taken any loan from any party covered in the register maintained under Section 301 of the Companies Act, 1956. (iv) On the basis of selective checks carried out during the course of audit and explanations given to us, adequate internal control systems commensurate with the size of the Company and nature of its business, for purchase of inventory and fixed assets and for sale of goods and services have been devised by the management and is being generally followed. Further on the basis of our examination of the books and records of the Company, and according to informations and explanations given to us, we have neither come across nor have been informed of any continuing failure to correct major weakness in the aforesaid internal control system. (v) (a) As per information given to us all the contracts or arrangements that are needed to be entered into the register maintained in pursuance of Section 301 of the Companies Act, have been recorded in the register. (b) On the basis of our examination and as per information and explanation given by the management, the price of the goods and materials purchased and / of sale of goods, materials and services made pursuant to contracts entered in register maintained under Section 301 of the Companies Act, 1956, in respect of each party is reasonable having regard to the prevailing market price at the relevant time. (vi) We are explained that during the year the Company has not accepted deposits from public to which the provisions of Section 58A of the Companies Act, 1956 and Companies (Acceptance of Deposits) Rules, 1975 apply. (vii) In our opinion, the Company has an Internal Audit System commensurate with its size and nature of its business. (viii) We have broadly reviewed the records including the books of accounts made and maintained by the Company pursuant to the Rules made by the Central Government for 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. (ix) (a) Accordingto the information and explanation given to us and the records examined by us, the Company is 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 statutory dues with the appropriate authorities. Further, there were no undisputed arrears of statutory dues outstanding as at 31 st March, 2007, for a period of more than six months from the date they became payable. (b) According to the records of the Company and information given to us, the particulars of statutory dues of the specified Statues which have not been deposited on account of disputes and the forum where the dispute is pending are given hereunder: (Rs. in lac) I) EXCISE DUTY CESTAT 14.24 II) T.C. CESS (a) Appellate Tribunal 30.17 (b) Honorable High Court of Rajasthan 49.49 (x) There are no accumulated losses in the Company as on 31st March, 2007. Further, the Company has not incurred any cash losses during the financial year covered by our audit as well as in the immediately preceding financial year. (xi) Based on our examination of books and records of the Company and on the basis of information and explanation given by the management the Company has been regular in repayment of its dues to the financial institutions or banks. (xii) On the basis of examination of records of the Company and information and explanation given to us, the Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities. (xiii) In our opinion, the Company is not a chit fund or 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. (xiv) On the basis of examination of books and records of the Company and information and explanation given by the management, the Company is not dealing ortrading in shares, securities, debentures and other investment. (xv) As per information and explanation given by the management, the terms & conditions on which the Company has given Guarantee for loans taken by others from banks or financial institutions are prima-facie not prejudicial to the interest of the Company. (xvi) In our opinion, the term loans have been applied for the purposes they were raised. (xvii) According to the information and explanation given to us 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) The Company has not made any preferential allotment of shares to parties or Companies covered in the register maintained under section 301 of the Act. (xix) The Company has not issued any debentures whether secured or unsecured during the year. (xx) The Company has not raised any money through public issue during the year covered by our report. (xxi) As per the information and explanation given to us, no fraud on or by the Company has been noticed or reported during the year covered by our report. For S. Bhargava Associates Chartered Accountants Sunil Bhargava Partner Membership No.: 70964 Place : Noida Dated :24th April, 2007