you are here:

Unichem Laboratories Ltd.

BSE: 506690 | NSE: UNICHEMLAB |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE351A01035 | SECTOR: Pharmaceuticals

BSE Live

Aug 04, 12:21
310.00 -0.50 (-0.16%)
Volume
AVERAGE VOLUME
5-Day
9,077
10-Day
6,645
30-Day
6,668
33,643
  • Prev. Close

    310.50

  • Open Price

    307.20

  • Bid Price (Qty.)

    310.00 (743)

  • Offer Price (Qty.)

    310.25 (161)

NSE Live

Aug 04, 12:21
309.85 -0.45 (-0.15%)
Volume
AVERAGE VOLUME
5-Day
85,228
10-Day
66,724
30-Day
57,772
57,588
  • Prev. Close

    310.30

  • Open Price

    310.00

  • Bid Price (Qty.)

    309.85 (20)

  • Offer Price (Qty.)

    309.95 (542)

Annual Report

For Year :
2019 2017 2016 2015 2014 2013 2011 2010 2009

Auditor's Report

1. We have audited the attached balance sheet of Unichem Laboratories Limited as at 31st March, 2009, the profit & loss account and also 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 the 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 the management, as well as evaluating the overall financial statements 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) (the order) 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 paragraph 4 & 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 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 appears from our examination of those books; (c) The balance sheet, profit and loss account and cash flow statement dealt with by this report are in agreement with the books of account; (d) 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. (e) On the basis of the written representations received from the directors, as on 31st March, 2009 and taken on record by the Board of Directors, we report that none of the directors is disqualified as on March 31st, 2009 from being appointed as a director 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 statements, read 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 principles generally accepted in India: i) in the case of the balance sheet of the state of affairs of the Company as at 31st March, 2009 ; ii) in the case of the profit and loss account, of the profit for the year ended on that date; and iii) 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 1. (a) The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets. (b) As explained to us, some of the fixed assets of the Company have been physically verified during the year by the management in accordance with a phased program of verification designed to cover all assets over a period of three years, which in our opinion, is reasonable having regard to the size of the Company and the nature of its assets. The discrepancies noticed on such verification were not material and have been properly dealt with in the books of account. (c) There was no substantial disposal of fixed assets during the year. 2. (a) As explained to us, the inventories of the Company except stocks in transits have been physically verified by the management at reasonable intervals during the year. In our opinion, the frequency of verification is reasonable. (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 were reasonable and adequate in relation to the size of the Company and the nature of the business. (c) The Company is maintaining proper records of inventory and no material discrepancies were noticed on physical verification. 3. (a) The Company has granted an unsecured 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. 64,102,500/- and the year end balance was Rs. Nil. (b) In our opinion, the rate of interest and other terms and conditions of such loans are not prima facie prejudicial to the interest of the company. (c) We are informed that the party was regular in payment of interest and the principal amount was converted into investment during the year. (d) There being no overdue amount, this sub-clause is not applicable. (e) 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. Consequently, clauses 4(iii)(e), 4(iii)(f) and 4(iii)|g) of the Order are not applicable. 4. In our opinion, and according to the information and explanation 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. In our opinion and according to the information and explanations given to us, there is no continuing failure to correct major weaknesses in such internal control systems. 5. To the best of our knowledge and belief and as explained to us the Company has not entered into any transactions required to be entered in the register maintained under Section 301 of the Companies Act, 1956. Therefore, clause 4(v)(b) of the order is not applicable. 6. In our opinion, and according to the information and explanations given to us, the Company has complied with the provisions of Section 58A, 58AA or any relevant provisions of the Companies Act, 1956 and the rules framed there under and the directives issued by the Reserve Bank of India, where applicable, with regard to the deposits accepted from the public. We have been informed that no order has been passed by Company Law Board or National Company Law Tribunal or Reserve Bank of India or any Court or any other tribunal. 7. In our opinion, the internal audit system is commensurate with the size of the company and the nature of its business. 8. We have broadly reviewed the books of account and records 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 relating to the manufacture of Bulk drugs and pharmaceutical specialties and are of the opinion that, prima facie, the prescribed accounts and records have been maintained. We have, however, not made a detailed examination of the said records with a view to determine whether they are accurate or complete. 9. (a) The Company is regular in depositing undisputed statutory dues payable in respect of provident fund, investor education and protection fund, employees state insurance, income-tax, sales-tax, wealth tax, custom duty, excise duty, cess and any other material statutory dues with the appropriate authorities during the year. There were no undisputed statutory dues as mentioned above in arrears as at 31st March, 2009 for a period of more than six months from the date they became payable. (b) According to the information & explanations given to us, the dues in respect of excise duty and custom duty that have not been deposited with the appropriate authorities on account of dispute and the forum where the disputes are pending as on 31st March, 2009 are as given below: Name of the Nature of Amount Statutes the dues (Rs. in lacs) Central Excise Penalty 11.61 Act, 1944 Custom Act, Custom duty 400.00 1962 including interest and penalty Forum where Period to which dispute is pending it relates Customs Excise and Service Tax 2003-04 Appellate Tribunal (CESTAT), New Delhi Jt. Director General of 1997-98 Foreign Trade, Bhopal 10. The Company does not have any accumulated losses at the end of the financial year and it has not incurred any cash losses in the current or in the immediately preceding financial year. 11. According to the information and explanations given to us the Company has not defaulted in repayment of dues to banks and financial institutions. 12. According to the information and explanations given 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. Therefore, the provisions of clause 4(xii) of the order are not applicable to the Company. 13. The Company is not a chit fund or a nidhi mutual benefit fund /society. Therefore, the provisions of clause 4(xiii) of the order are not applicable to the Company. 14. As informed to us, the Company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly the provisions of clause 4(xiv) of the order are not applicable to the Company. 15. In our opinion, the terms and conditions on which the Company has given guarantee for loans taken by others from banks or financial institutions are not prejudicial to the interest of the Company. 16. To the best of our knowledge and belief and according to the information and explanations given to us the term loans have been applied for the purpose for which they were raised. 17. According to the cash flow statement and other records examined by us and the information and explanations given to us, on an overall basis, funds raised on short term basis, have prima facie, not been used during the year for long term investments. 18. According to the information and explanations given to us no preferential allotment of shares has been made by the Company to companies, firms or other parties listed in the register maintained under Section 301 of the Companies Act, 1956. 19. The Company has not issued any secured debentures and accordingly the provisions of clause 4(xix) of the order are not applicable. 20. The company has not raised any money through a public issue during the year. 21. Based upon the audit procedures for the purpose of reporting the true and fair view of financial statements and as per the information and explanations given to us by the management, no fraud on or by the Company has been noticed or reported during the year. For B. D. Jokhakar & Co. Chartered Accountants Raman Jokhakar Mumbai Partner May 21, 2009 Membership No. 103241