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Samkrg Pistons and Rings Ltd.

BSE: 520075 | NSE: | Series: NA | ISIN: INE706B01012 | SECTOR: Auto Ancillaries

BSE Live

Jan 24, 13:29
176.75 -10.95 (-5.83%)
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AVERAGE VOLUME
5-Day
27,567
10-Day
19,993
30-Day
11,667
11,951
  • Prev. Close

    187.70

  • Open Price

    185.05

  • Bid Price (Qty.)

    176.00 (32)

  • Offer Price (Qty.)

    176.75 (150)

NSE Live

Dec 27, 11:22
NT* 0.00 (0.00%)
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  • Prev. Close

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Samkrg Pistons and Rings is not listed on NSE

Annual Report

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

Auditor's Report

We have audited the attached Balance Sheet of SAMKRG PISTONS AND RINGS LIMITED as at 31st March, 2006 and the Profit and Loss Account for the year ended as on that date annexed thereto and the cash flow statement for the period ended on that date. This 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 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. Further we report as follows : 1. As required by the Companies (Auditors Report) Order 2003 issued by the central government of India in terms of subsection (4A) of section 227 of the Companies Act, 1956 and on the basis of the such checks of books and records of the company as we considered appropriate and according to information and explanations given to us during the course of the audit, we annex hereto a statement on that matter specified in paragraph 4 and 5 of the said order to the extent applicable. 2. Further to our comments in the statement referred to in paragraph (1) above. A. We have obtained all the information end explanations, which to the best of our knowledge And belief were necessary for the purpose of our audit. B. In our opinion, the Company has kept proper books of accounts as required by law so far as appears from the examination of books. C. The Balance Sheet and Profit and Loss Account referred to in the Report are in agreement with the books of accounts. D. In our opinion the Balance Sheet and the Profit and Loss account dealt with by this Report comply with the mandatory Accounting standards referred to in subsection (3-C) of section 211 of the Companies Act 1956. E. On the basis of the written representation received from the Directors, as on 31st March 2008 and taken on record by the Board of Directors, We report that none of the directors are disqualified as on 31st March 2008 from being appointed as director under clause (g) of sub-section (1) of section 274 of companies act 1956, F. In our opinion and to the best of our information and according to the explanation given to us, the accounts read together with other notes annexed to and forming part of the accounts give the information required by the Companies Act, 1956 in the manner so required and give a true and fair view. i) In so far as it relates to the Balance Sheet of the state of affairs of the Company as at 31 st March 2008 and ii) In so far as it relates to the Profit and Loss Account of the Profit of the Company, for year ended as on that date. iii) In the case of the cash flow statement of the cash flow for the year ended on that date. ANNEXURE TO AUDITORS REPORT - (statement referred to in paragraph 1 of our report of even date) 1. (a) The Company has maintained proper records showing the full particulars including quantitative details and situation of fixed assets. (b) The fixed assets were physically verified during the year by the management. According to the information and explanation given to us, no discrepancies were noticed oh physical verification. (c) None of the other fixed assets have been revalued during the, year. 2. (a) The Management has conducted physical verification of the finished goods at reasonable intervals. (b) The Procedure of physical verification of stocks followed by the Management are considered reasonable and adequate in relation to the Size of the company and the nature of its business. (c) On the physical verification of stocks as compared to book records no material discrepancies were noticed. The company is maintaining proper records of inventory. (d) On the basis of our examination of stocks, we are satisfied that the valuation of stocks in fair and in accordance with normally accepted accounting principles. 3. (a) According to the information and explanations given to us, the Company has taken unsecured loans from the Directors and their relatives as listed in the register maintained under Section 301 of the companies act 1956. In terms of subsection (6) of section 370 of the companies act 1956 provision of this section is not applicable to the company. (b) According to the information and, explanations given to us, the Company has not granted any loans, secured or unsecured to companies, Firms or other parties listed in the register maintained under Section 301 of the companies act 1956 In terms of subsection (6) of section 370 of the companies act 1956 provision of this section is not applicable to the company. (c) The rates of interest and other terms and conditions of loans taken by the company are unsecured and are prima facie not prejudicial to the interest of the company. (d) The payment of the principal and interest are reqular. 4 In our opinion and according to the information and explanations given to us, there are adequate internal control procedures commensurate with the size of the Company and the nature of its business with regards to purchases of stores, spare parts including components, plant and machinery, equipment and other assets and for the sale of the goods. 5 In our opinion and according to the information and explanation given to us there are no transactions of purchases of goods and material and sale of goods, materials and service aggregating during the year to Rs. 5,00,000/- or more in respect of each party listed in the register maintained under Section 301 of the Companies Act, 1956. 6 As explained to us, there are no unserviceable or damaged stores and there are no unserviceable or damaged raw materials or finished goods. 7 The Company has not accepted any deposits from public. Hence, the provisions of Section 58A of the companies Act, 1956, will not be applicable 8 In our opinion reasonable records have been maintained by the Company for the sales and disposal of realizable scrap. 9 In our opinion the company has internal audit system commensurate with the size of the company and the nature of its business. 10 We have broadly reviewed the books of account relating to materials, labor and other items of cost maintained by the company pursuant to the rules made by the Central Government for the maintenance of the cost records under Section 209 (i) (d) of the Companies Act, 1956 and are of the opinion that, prima facie, the prescribed records and accounts have been maintained by the Company. 11. (a) The Provident fund and Employees State Insurance dues have regularly deposited with the appropriate authorities. (b) According to the information and explanation given to us the company does not have undisputed amounts payable in respect of Income Tax, wealth Tax, Excise Duty and Customs Duty outstanding for a period of more than six months from the date they become payable. In respect of Sale Tax (Entry Tax) there is disputed amount of Rs. 22.47 lacs not deposited with A.R Sales Tax department. The Company had filed an appeal with ADC(CT) Punjagutta Division Hyderabad against certain points in the order of for the assessment year 2002-03. S.no Name Of Nature Of Of The Statue Dues 1 SALES ENTRY TAX ACT TAX Amount In Forum Where Rs In Lacs Despute Is Pending 22. 47 ADC (CT) 12. As explained to us there are outstanding of Rs One lac or more to the suppliers under the category of Small scale units which are outstanding for more than 30 days are Rs. 53.66 lacs. 13. During the year under report, the company has not made any preferential allotment of shares to the parties and companies covered in the register maintained under Section 301 of the companies Act 1956. 14. the company has no accumulated losses at the end of the financial year and, has not incurred any cash losses in the financial year under report and in the immediately preceding financial year. 15. In our opinion and according to the information and explanation given to us, the company has not defaulted in repayment of dues to financial institutions/ banks. The company has not issued any debentures. 16. According to 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 and other securities. 17. In our opinion of the company is not chit fund or Nidhi/ Mutual fund / society. Therefore the provisions of 4(XIII) of the companies (Auditors report) order 2003 are not applicable to the company. 18. According to the information and explanation given to us, the company has not given any guarantee for loans taken by others from banks or financial institutions. 19. According to the information and explanations 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. 20. the company has not raised any money by way of public issue during the year. 21. According to the information and explanation given to us, no fraud on or by the company has been noticed or reported during the course of the audit. For M/S. Ravi a Keshav Chartered Accountants Place : Hyderabad (K.K. KESAVAN) Date : 30-06-2008. Partner M.No 17489