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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

Jul 29, 16:00
333.60 1.20 (0.36%)
Volume
AVERAGE VOLUME
5-Day
3,509
10-Day
6,847
30-Day
6,147
4,141
  • Prev. Close

    332.40

  • Open Price

    335.95

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Jul 29, 16:02
332.80 0.45 (0.14%)
Volume
AVERAGE VOLUME
5-Day
51,982
10-Day
59,748
30-Day
50,080
45,802
  • Prev. Close

    332.35

  • Open Price

    334.00

  • Bid Price (Qty.)

    332.80 (556)

  • Offer Price (Qty.)

    0.00 (0)

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, 2010, 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, 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. (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, 2010; 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) The fixed assets disposed off during the year, in our opinion, do not constitute a substantial part of the fixed assets of the Company and such disposal has, not affected the going concern status of the Company. 2. (a) As explained to us, the inventories have been physically verified during the year by the management, except for the inventories lying with third parties, which have however, been confirmed by them. The intervals at which the inventories have been verified are, in our opinion, reasonable in relation to the size of the Company and the nature of its business; (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) As informed, the Company has not granted any loans, secured or unsecured loan to companies, firms or other parties covered in the register maintained under section 301 of the Companies Act, 1956. Accordingly, sub clause (b), (c) and (d) are 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, sub clauses (e), (f) and (g) 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, 2010 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, 2010 are as given below: Name of the Nature of Amount Forum where Period to Statutes the dues (Rs. in dispute is which it lacs) pending relates Central Excise Penalty 11.61 Customs Excise and Service Tax 2003-04 Act, 1944 Appellate Tribunal (CESTAT), New Delhi Custom Act, Custom duty 400.00 Jt. Director General of 1997-98 1962 including interest Foreign Trade, Bhopal and penalty 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. In respect of transactions of the Company in shares, securities and other investments, we report that the Company has kept adequate records of its transactions and contracts and timely entries have been made therein. The shares, securities, and other investments, are held by the Company in its own name. 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, term loans have been used for the purpose for which they are obtained. However no term loans were taken during the year and outstanding balance as at the year end was NIL. 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. To the best of our knowledge and belief and according to the information and explanations given to us, no material fraud on or by the Company has been noticed or reported during the course of our audit. For B. D. Jokhakar & Co. Chartered Accountants Firm Registration No. 104345W Raman Jokhakar Mumbai Partner July 22, 2010 Membership No. 103241