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Sanofi India Ltd.

BSE: 500674 | NSE: SANOFI |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE058A01010 | SECTOR: Pharmaceuticals

BSE Live

Apr 16, 16:00
8050.70 11.55 (0.14%)
Volume
AVERAGE VOLUME
5-Day
5,782
10-Day
4,139
30-Day
3,256
1,824
  • Prev. Close

    8039.15

  • Open Price

    8105.00

  • Bid Price (Qty.)

    8050.70 (300)

  • Offer Price (Qty.)

    8080.00 (1)

NSE Live

Apr 16, 15:59
8047.70 12.00 (0.15%)
Volume
AVERAGE VOLUME
5-Day
33,446
10-Day
35,313
30-Day
29,083
32,528
  • Prev. Close

    8035.70

  • Open Price

    8108.00

  • Bid Price (Qty.)

    8047.70 (410)

  • Offer Price (Qty.)

    0.00 (0)

Annual Report

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

Auditor's Report

1. We have audited the attached Balance Sheet of Aventis Pharma Limited as at December 31,2010 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. 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 (as amended) 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. 4. Further to our comments in the Annexure referred to above, we report that: i. 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; 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 the written representations received from the directors, as on December 31, 2010, and taken on record by the Board of Directors, we report that none of the directors is disqualified as on December 31, 2010 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 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 December 31,2010; 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 referred to in paragraph [ 3 ] of our report of even date Re: Aventis Pharma Limited (i) (a) The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets. (b) All fixed assets have not been physically verified by the management during the year but there is a regular programme of verification which, in our opinion, is reasonable having regard to the size of the Company and the nature of its assets. As informed, no material discrepancies were noticed on such verification. (c) There was no substantial disposal of fixed assets during the year. (ii) (a) The management has conducted physical verification of inventory at reasonable intervals during the year. (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 physical verification. (iii) (a) The Company had granted loan to a company covered in the register maintained under section 301 of the Companies Act, 1956. The maximum amount involved during the year was Rs. 1,300,000 thousands and year-end balance of loan granted to such party was Rs. 1,300,000. (b) In our opinion and according to the information and explanations given to us, the rate of interest and other terms and conditions for such loans were not primafacie prejudicial to the interest of the Company. (c) In respect of loans granted, repayment of the principal amount is not due and payment of interest have been regular. (d) There is no overdue amount of loans granted to companies firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956. (e) As informed, 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. Hence clause iii (f) and (g) of the Companies (Auditors report) Order, 2003 (as amended) are not applicable. (iv) In our opinion and according to the information and explanations given to us, there is an adequate internal control system commensurate with the size of the Company and the nature of its business, for the purchase of inventory and fixed assets and for the sale of goods and services. During the course of our audit, no major weakness has been noticed in the internal control system in respect of these areas. During the course of our audit, we have not observed any continuing failure to correct major weakness in internal control system of the Company. (v) (a) According to the information and explanations provided by the management, we are of the opinion that the particulars of contracts or arrangements referred to in section 301 of the Act that need to be entered into the register maintained under section 301 have been so entered. (b) In respect of transactions made in pursuance of such contracts or arrangements exceeding value of Rupees five lakhs entered into during the financial year, because of the unique and specialized nature of the items involved and absence of any comparable prices, we are unable to comment whether the transactions were made at prevailing market prices at the relevant time. (vi) The Company has not accepted any deposits from the public. (vii) In our opinion, the Company has an internal audit system commensurate with the size and nature of its business. (viii) We have broadly reviewed the books of account maintained by the Company pursuant to the rules made by the Central Government for the maintenance of cost records under section 209(1) (d) of the Companies Act, 1956, and are of the opinion that primafacie, the prescribed accounts and records have been made and maintained. (ix) (a) Undisputed statutory dues including provident fund, investor education and protection fund, or employees state insurance, income-tax, sales-tax, wealth-tax, service tax, customs duty, excise duty, cess and other material statutory dues applicable have generally been regularly deposited with the appropriate authorities. Further, since the Central Government has till date not prescribed the amount of cess payable under section 441 A of the Companies Act, 1956, we are not in a position to comment upon the regularity or otherwise of the Company in depositing the same. (b) According to the information and explanations given to us, no undisputed amounts payable in respect of provident fund, investor education and protection fund, employees state insurance, income-tax, wealth-tax, service tax, sales-tax, customs duty, excise duty, cess and other undisputed statutory dues were outstanding, at the year end, for a period of more than six months from the date they became payable. (c) According to the records of the Company, the dues outstanding of income-tax, sales-tax, excise duty and custom duty on account of any dispute, are as follows: Name of the statute Nature of dues Amount* (Rs.) 000s Income Tax Act, 1961 Income Tax- Due to 5,052 disallowances and abatement of relief/ rebate The Central Excise Wrongful Availment of 18,900 Act, 1944 Modvat Duty on Samples 529 Disallowance of Modvat 1,720 Disallowance of Modvat 361 Medicinal & Toilet Dispute Whether Central 23,156 Preparations (Levy or State Excise duty of Excise Duty) Act, 1955 Dispute Whether Central 13,207 or State Excise duty Karnataka Sales tax Order passed under 845 Act of 1957 section 12A and 25 Foreign Trade Demand for refund of 5,955 (Development & customs duty & interest Regulation) Act 1992 on account of rejection of input/output norms Name of the Statue Period to which the Forum where amount relates dispute is pending Income Tax Act, 1961 Assessment Year Commissioner of Income Tax 2007-08 (Appeals) The Central Excise Act, 1944 1994-1995 Customs Excise and Service tax Appellate tribunal. 1994 to 1999 Customs Excise and Service tax Appellate tribunal. 1993 Commissioner of Appeals, Surat. 1993 Commissioner of Appeals, Surat. Medicinal & Toilet Preparations (Levy of Excise Duty) Act, 1955 1990 to 1997 Central Board of Excise and Customs. 1996 to 1999 Commissioner of State Excise Maharashtra. Karnataka Sales tax Act of 1957 1999-2000 Karnataka Appellate Tribunal. Foreign Trade (Development & Regulation) Act 1992 2005 Director General of Foreign Trade, Delhi * Net of amount paid under protest or otherwise. There are no dues of wealth tax, service tax & cess which have not been deposited on account of any dispute. (x) The Company has no accumulated losses at the end of the financial year and it has not incurred cash losses in the current and immediately preceding financial year. (xi) Based on our audit procedures and as per the information and explanations given by the management, we are of the opinion that the Company has not defaulted in repayment of dues to banks. The Company does not have any borrowings from financial institutions or by way of debentures. (xii) According to the information and explanations given to us and based on the documents and records produced to us, the Company has not granted 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 a nidhi / mutual benefit fund / society. Therefore, the provisions of clause 4(xiii) of the Companies (Auditors Report) Order, 2003 (as amended) are not applicable to the Company. (xiv) In our opinion, the Company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly, the provisions of clause 4(xiv) of the Companies (Auditors Report) Order, 2003 (as amended) are not applicable to the Company. (xv) According to the information and explanations given to us, the Company has not given any guarantee for loans taken by others from bankorfinancial institutions. (xvi) The Company did not have any term loans outstanding during the year. (xvii) According to the information and explanations given to us and on an overall examination of the balance sheet of the Company, we reportthat nofunds 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 Companies Act, 1956. (xix) The Company did not have any outstanding debentures during the year. (xx) The Company has not raised any money through a public issue during the year. (xxi) According to the information and explanations furnished by the management, which have been relied upon by us, there were no frauds on or by the Company noticed or reported during the course of our audit except fraud by a carrying and forwarding contractor of the Company amounting to approximately Rs. 5,900 thousands detected by the management. The same is under further investigation. Management has taken necessary steps to strengthen the controls and the expected loss has been provided. For S.R. Batliboi & Co. Firm Registration no.: 301003E Chartered Accountants per Ravi Bansal Partner Membership No. 49365 Mumbai: February 16,2011