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Sandu Pharmaceuticals Ltd.

BSE: 524703 | NSE: | Series: NA | ISIN: INE751D01014 | SECTOR: Pharmaceuticals

BSE Live

Jun 01, 16:00
14.74 0.00 (0.00%)
Volume
AVERAGE VOLUME
5-Day
307
10-Day
418
30-Day
1,037
140
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    14.74

  • Open Price

    14.74

  • Bid Price (Qty.)

    14.30 (259)

  • Offer Price (Qty.)

    14.74 (30)

NSE Live

Dec 27, 11:22
NT* 0.00 (0.00%)
Volume
No Data Available
0
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    -

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Sandu Pharmaceuticals is not listed on NSE

Annual Report

For Year :
2015 2014 2013 2012 2011 2010 2009 2008 2007

Auditor's Report

We have audited the accompanying financial statements of SANDU PHARMACEUTICALS LIMITED (the Company), which comprise the Balance Sheet as at March 31, 2015 and the Statement of Profit and Loss and Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information. Management''s Responsibility for the Standalone Financial Statements The Company''s Board of Directors are responsible for the matters stated in Section 134(5) of the Companies Act, 2013 (the Act) with respect to the preparation of these standalone 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 principles generally accepted in India, including the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments'' and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, 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. Auditor''s Responsibility Our responsibility is to express an opinion on these standalone financial statements based on our audit. We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the Rules made there under. We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the Act. 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 financial control relevant to the Company''s preparation of the financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the company''s Directors, 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 on the standalone financial statements. Opinion In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone 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, of the state of affairs of the Company as at 31st March, 2015, and its Profit and its cash flows for the year ended on that date. Report on Other Legal and Regulatory Requirements As required by the Companies (Auditor''s Report) Order, 2015 (the Order) issued by the Central Government of India in terms of sub-section (11) of Section 143 of the Act, we give in the Annexure a statement on the matters specified in paragraphs 3 and 4 of the Order. As required by Section 143 (3) of the Act, we report that: (a) We have sought and 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. (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. (d) In our opinion, the aforesaid standalone financial statements comply with the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. (e) On the basis of the written representations received from the Directors as on 31st March, 2015 taken on record by the Board of Directors, none of the Directors is disqualified as on 31st March, 2015 from being appointed as a director in terms of section 164(2) of the Act. (f) With respect to the other matters to be included in the Auditors Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us: (i) We have been informed that the Company does not have any pending litigations which would impact its financial position. (ii) We have been informed that the Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses. (iii) There has not been an occasion in case of the company during the year under report to transfer any sum to the Investors Education and Protection Fund. Annexure to the Independent Auditor''s Report The Annexure referred to in our Independent Auditor''s Report to the members of the Company on the standalone financial statements for the year ended 31st March, 2015, on the basis of such checks as we considered appropriate and according to the information and explanations given to us during the course of our audit, we report that: i. (a) The Company has maintained proper records showing full particulars, including quantitative details and (b) The Company has a regular programme of physical verification of its fixed assets be which fixed assets are verified in a phased manner over a period of three years. In accordance with this programme, certain fixed assets were verified during the year and no material discrepancies were noticed on such verification. In our opinion, this periodicity of physical verification is reasonable having regard to the size of the Company and the nature of its assets. ii. (a) Physical verification of inventory has been conducted at reasonable intervals by the management. (b) The procedures 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 iii. The Company has not granted any loans, secured or unsecured, to/ from companies, firms or other parties covered in the register maintained under Section 189 of the Act. iv. In our opinion and according to the information and explanations given to us, there is adequate internal control system commensurate with the size of the Company and the nature of its business for the sale of goods. Further, on the basis of our examination of the books and records of the Company and according to the information and explanation given to us, no major weakness has not been noticed or reported. v. Company has not accepted any deposits from the public covered under Section 73 to 76 of the Companies act, 2013. vi. We have been informed that the Company is maintaining cost records as specified by the Central Government under sub-section (1) of Section 148 of the Act. payable. vii. (a) According to the information and explanations given to us and based on the records of the company examined by us, the Company is regular in depositing the undisputed statutory dues, including Provident Fund, Employees'' State Insurance, Income-tax, Sales-tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty and other material statutory dues, as applicable, with the appropriate authorities in India. As explained to us, the Company did not have any dues on account of the employees'' state insurance and duty of excise. (b) According to the information and explanations given to us, no undisputed amount payable in respect of provident fund, income tax, sales tax, wealth tax, service tax, duty of customs, value added tax, cess and other material statutory dues were in arrears as at 31st March 2015 for a period of more than six months from the date they became payable. (c) According to the information and explanations given to us and based on the records of the Company examined by us, there are no material dues of Wealth Tax, Service Tax, Sales Tax, Customs Duty and Excise Duty which have not been deposited on account of any disputes. However according to information and explanations given to us, the following dues of income tax have not been deposited by the Company on account of disputes: Name of the Nature of the dues Amount Financial Year to Forum where statute (Rs. in Lacs) which the amount the dispute is relates pending Income-tax Act, Income-tax including 30.21 2008-09 Income Tax 1961 applicable interest and Appellate penalty Tribunal Income-tax Act, Income-tax including 283 2010-11 CIT Appeals 1961 applicable interest and penalty (d) There has not been an occasion in case of the Company during the year under report to transfer any sums to the Investor Education and Protection Fund. The question of reporting delay in transferring such sums does not arise. viii. The Company does not have any accumulated loss and has not incurred cash loss during the financial year covered by our audit and in the immediately preceding financial year. ix. According to the records of the Company examined by us and as per the information and explanations given to us, the company has not defaulted in repayment of dues to any financial institution or banks and the Company has not issued debentures. x. In our opinion, and according to the information and explanations given to us, the Company has not given any guarantee for loan taken by others from a bank or financial institution during the year. xi. In our opinion, and according to the information and explanations given to us, based on our audit procedures and on the information given by the management we report that the term loan taken by the company has been used for the purpose for which it is taken. xii. During the course of our examination of the books and records of the Company, carried in accordance with the auditing standards generally accepted in India, we have neither come across any instance of fraud on or by the Company noticed or reported during the course of our audit nor have we been informed of any such instance by the Management. Chartered Accountants (Firms Registration No. 104393w) Sd/- M. M. Joshi (Proprietor) (Membership No: 042466) Place: Mumbai Date: 30th May, 2015