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Syncom Healthcare Ltd.

BSE: 533157 | NSE: SYNCOM | Series: NA | ISIN: INE602K01014 | SECTOR: Pharmaceuticals

BSE Live

Jun 28, 16:00
4.06 0.00 (0.00%)
Volume
AVERAGE VOLUME
5-Day
256,245
10-Day
153,245
30-Day
193,756
163,615
  • Prev. Close

    4.06

  • Open Price

    3.95

  • Bid Price (Qty.)

    4.07 (491)

  • Offer Price (Qty.)

    4.33 (361)

Syncom Healthcare is not traded on BSE in the last 30 days

NSE Live

Jun 28, 15:57
4.20 0.00 (0.00%)
Volume
AVERAGE VOLUME
5-Day
281,668
10-Day
191,676
30-Day
157,280
332,739
  • Prev. Close

    4.20

  • Open Price

    4.10

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    4.20 (50)

Syncom Healthcare is not traded on NSE in the last 30 days

Annual Report

For Year :
2015 2013 2012 2011 2010

Auditor's Report

We have audited the attached Balance Sheet of M/S SYNCOM HEALTHCARE LIMITED as at 31st March, 2010 and also the Profit and Loss Account 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 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. 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. Further and subject 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 subject to the Note (A) (i) (1) and (2) of the Notes to the Account; On the basis of written representations received from the directors, as on 31st March, 2010, and taken on record by the Board of Directors, we report that none of the directors is disqualified as on 31st March 2010 from being appointed as a director in terms of clause (g) of sub-section (1) of section 274 of the Companies Act, 1956; In our opinion and to the best of our information and according to the explanations given to us, the accounts read 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, 2010; and b. in the case of 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 REPORTS (Referred to in Paragraph (3) of our report of even date) With reference to the Annexure referred to in paragraph 3 of our report of even date to the members of M/s Syncom Healthcare Limited for the year ending 31st March 2010, we report that in our opinion and to the best of our information and explanations furnished to us and the books and records examined by us in the normal course of Audit: (i) (a) The company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets. (b) As explained to us physical verification of a major portion of fixed assets as at 31 March, 2010 was conducted by the management during the year. In our opinion the frequency of physical verification is reasonable having regard to the size of the Company and nature of its Assets. According to the information and explanation given to us, no material discrepancies were noticed on such verification.. (c) The Company has not undertaken disposal of a substantial part of fixed Assets of the Company during the year. (ii) (a) As explained to us, the inventories were physically verified during the year by the management at periodic 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 are reasonable and adequate in relation to the size of the Company and the nature of its business.0 (c) In our opinion and according to the information and explanations given to us, the company has maintained proper records of inventory. The discrepancies noticed on between physical stock and book stock during periodic physical verification of stock by the management were not material having regard to the size of operations of the company and have been properly dealt with in Books of accounts. (iii) The Company has not granted or taken any loans, secured or unsecured to or from companies, firms or other parties covered in the register maintained under Section 301 of the Companies Act 1956. As the Company has neither granted nor taken any loans, secured or unsecured, to or from parties listed in the register maintained under Section 301 of the Companies Act, 1956 (iv) In our opinion and according to explanation given to us there are adequate internal control procedures 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. During the course of audit we have not observed any major weaknesses in internal control. (v) Based on the audit procedures applied by us and according to information and explanations given to us, there were no transactions /contract or arrangement which have been entered into with parties who are covered under section 301 of the Companies Act, 1956 during the year. (vi) During the year, the company has not accepted any deposits from public, which fall within the purview of section 58A or 58AA of the Companies Act 1956 and the rules framed there under. Also there have been no proceedings before Company Law Board in this matter nor has any order been passed. (vii) In our opinion the company has a formal internal Audit system commensurate with its size and the nature of its business. (viii) The maintenance of cost records has not been prescribed by the Central Government under clause (d) of sub-section (1) of section 209 of the Companies Act, 1956. (ix) According to information and explanations given to us, the company is regular in depositing undisputed statutory dues including provident fund, investor education protection fund, employees state insurance, income tax, sales tax, wealth tax, service tax, custom duty, excise duty and other material statutory dues applicable to it, except as stated as under (b) The company has made certain labour payments for its Dehradun plant through unregistered labour contractors and the liability of provident fund on the same has not been determined and thus remains unpaid. The company has also not paid the advance income taxes in the first three quarters and overall advance tax paid was short by Rs.32.09 Lacs as on 31/03/2010. (c) According to information and explanations given to us, no undisputed amounts payable except stated as above in respect of the statutory dues were outstanding as at 31st March 2010 for a period of more than 6 months from the date they became payable. (d) According to the information and explanation given to us, there are no dues of income tax, sales tax, wealth tax, service tax, customs duty and excise duty which have not been deposited on account of any dispute. (x) The company has no accumulated losses and has not incurred cash losses in the financial year covered by our audit and in the immediately preceding financial year. (xi) In our opinion and according to information and explanation given to us the company has not defaulted in repayment of dues to any financial institution or bank. The company did not issue any debentures during the year and nor had outstanding debentures from previous year. (xii) The company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities. (xiii) The Provisions of any special statute applicable to Chit funds, Nidhis or Mutual benefit funds/Societies are not applicable to the company. (xiv) The company is not dealing in or trading in shares, securities, debentures, or other investments. The only investments in shares which are outstanding as on 31/3/2010 are as investment of surplus funds of the company. The outstanding shares held and owned by the company as on 31/3/2010 are held in the own name of company. (xv) The company has not given any guarantee for loans taken by others from bank or financial institutions. (xvi) In our opinion, the term loans have been applied for the purpose for which they were raised. (xvii) According to the information and explanations given to us and on an overall examination of the balance sheet of the company, we report that the no funds raised on short-term basis have been used for long-term investment. (xviii) The company has not made preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the Act. (xix) No debentures have been issued during the year. (xx) The management has disclosed on the end use of money raised by public issues and the same has been verified by us. (xxi) To the best of our knowledge and belief and as per the information given to us, no fraud on or by the company has been noticed or reported during the year. For Sanjay Mehta & Associates Chartered Accountants Manish Mittal (Partner) M .No. 079452 Firm Regn. 011524C Indore, June 28, 2010