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Texmo Pipes and Products Ltd.

BSE: 533164 | NSE: TEXMOPIPES |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE141K01013 | SECTOR: Plastics

BSE Live

Oct 20, 16:00
14.26 -0.14 (-0.97%)
Volume
AVERAGE VOLUME
5-Day
6,832
10-Day
14,820
30-Day
14,216
17,947
  • Prev. Close

    14.40

  • Open Price

    14.44

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Oct 20, 15:57
14.30 -0.10 (-0.69%)
Volume
AVERAGE VOLUME
5-Day
58,555
10-Day
87,374
30-Day
78,399
56,697
  • Prev. Close

    14.40

  • Open Price

    14.85

  • Bid Price (Qty.)

    0.00 (0)

  • 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 Texmo Pipes and Products Limited (the Company) for the period ending on 31st March, 2009 and also the Profit & Loss Account of the Company for the period 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(s). 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 audi t provides a reasonable basis for our opinion. 3. As required by the Companies (Auditors Report) Order, 2003, as amended by the Companies (Auditors Report) (Amendment) Order 2004, issued by the Central Government of India in terms of Section 227 (4A) of the Companies Act, 1956 and on the basis of such checks of the books and records of the Company as we considered appropriate and according to the information and explanations given to us during the course of the audit, 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 in paragraph 3 above, we report that: (a) We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our Audit; (b) 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; (c) The Balance Sheet and Profit & Loss Account dealt with by this report are in agreement with the books of account; (d) In our opinion, the Profit and Loss Account and Balance Sheet dealt with by this report comply with the Accounting Standards referred to in sub-section (3C) of Section 211 of the Companies Act, 1956 to the extent applicable; (e) On the basis of the written confirmations received from the Directors and taken on record by the Board of Directors, we report that none of the Directors of the Company is disqualified as on 31.03.2009 from being appointed as a Director of the Company in terms of Clause (g) of Sub-section (1) of Section 274 of the Companies Act, 1956; (f) In our opinion and to the best of our information and according to the explanations given to us, the said financial statement read together with the 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 principle generally accepted in India :- (i) in case of the Balance Sheet, of the state of affairs of the Company for the period ending 31st March, 2009; and (ii) in case of the Profit & Loss Account, of the Profit of the Company for the period ended on that date. (Referred to in paragraph 03 of our Report of even date of Texmo Pipes and Products Limited (For the period ending 31st March 2009) (i) (a) The Company has maintained proper records showing full particulars, including quantitative details and situation of its fixed assets; (b) Physical verification of the fixed assets of the Company was conducted by the Management during the year, which in our opinion is reasonable having regard to the size of the Company and nature of its assets. No material discrepancies were noticed on such verification as compared with the book records. (c) During the period, the Company has not disposed off substantial part of fixed assets and the going concern status of the Company is not affected; (ii) (a) The inventory has been physically verified at reasonable intervals during the year by the Management; (b) In our opinion and according to the information and explanations given to us, the procedures for physical verification of inventory followed by the Management is reasonable and adequate in relation to the size of the Company and the nature of its business; (c) The Company has maintained proper records of inventory and no discrepancies were noticed on physical verification as compared with book records; (iii) (a) The Company has not granted any loans, secured or unsecured, during the year to companies firms and other parties covered in the register maintained under Section 301 of the Companies Act, 1956. Accordingly Clauses (iii)(b) to (iii)(d) of paragraph 4 of the order are not applicable to the Company; The Company had taken unsecured loan from a Company covered in the register maintained under Section 301 of the Companies Act, 1956. The Company has taken a total Rs.4,90,30,581/- from one such Company. The year end balance is of Rs.4,87,33,528/-. (b) In our opinion, the rate of interest and other terms and conditions on which loans have been taken from such parties listed in the register maintained under section 301 of the Companies Act, 1956 are not, prima facie, prejudicial to the interest of the company; (c) There is no stipulation as to the repayment of loan and interest thereon, hence reply to Clauses (iii)(c) &(iii)(d)is nil; (iv) In our opinion, there is adequate internal control system commensurate with the size of the Company and the nature of its business with regard to purchase of inventory, fixed assets and for the sale of goods. During the course of our audit, we have neither come across nor have been informed of any continuing failure to correct major weaknesses in the aforesaid internal control system; (v) Based on the audit procedures applied by us and according to the information and explanations given to us, we are of the opinion that the transactions that need to be entered into the register maintained under section 301 of the Companies Act, 1956 have been so entered. (vi) The Company has not accepted any deposits from the public within the meaning of Section 58A, 58 A A or any other relevant provisions of the Companies Act, 1956 and the rules framed there under; (vii) In our opinion, the Company has an internal audit system commensurate with the size and nature of its business. 209(l)(d) of the Companies Act, 1956 is not applicable to the Company. (a) According to information and explanations given to us, the Company is regular in depositing with appropriate authorities undisputed statutory dues including provident fund, employees state insurance, income tax, sales tax, custom duty, excise duty, cess and other statutory dues to the extent applicable to it, except for Service Tax realised and payable of Rs. 1,06,358/- outstanding as on 31st March 2009 for a period of more than six months from the date they became payable; (b) According to the information and explanation given to us, there are no dues in respect of income tax, sales tax, wealth tax, service tax, custom duty, excise duty, cess which have not been deposited on account of any dispute; (ix) Clause (x) of paragraph 4 of the order is not applicable to the Company; (x) The Company has not defaulted in repayment of dues to bank. The Company had no transactions with financial institutions and had no debentures outstanding during the year; (xi) The Company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities; (xii) The nature of activities of the Company does not attract any special statute applicable to chit fund and nidhi /mutual benefit fund/societies; (xiii) The Company does not deal or trade in shares, securities, debentures and other investments; (xiv) On the basis of the information and explanations given to us, the Company has not given any guarantee for loans taken by others from banks or financial institutions; (xv) On the basis of the records examined by us, and relying on the information compiled by the Company for co-relating the funds raised to the end use of term loans, we have to state that, the Company has, prima-facie, applied the term loans for the purposes for which they were obtained; (xvi) According to information and explanations given to us and on an overall examination of the financial statements of the Company and after placing reliance on the reasonable assumptions made by the Company for classification of usage of funds, we are of the opinion that, prima-facie, as at the close of the year, short term funds have not been utilized for long term investment; (xvii) The Company has not made any preferential allotment of shares; (xviii) During the year, the Company has not issued any debentures; (xix) The Company has not raised any money by public issues during the year; (xx) Based upon the audit procedures performed in accordance with the generally accepted auditing practices in India and according to the information and explanations given to us, we report that we have neither come across any instances of fraud on or by the Company, noticed or reported during the year, nor we have been informed of such cases by the Management. For Pankaj Somaiya & Associates Chartered Accountants Place : Burhanpur (M.P.) CA Pankai Somaiya Date : 14th August 2009 Partner