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V-Guard Industries Ltd.

BSE: 532953 | NSE: VGUARD |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE951I01027 | SECTOR: Electric Equipment

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BSE Live

Mar 27, 16:00
157.25 -4.15 (-2.57%)
Volume
AVERAGE VOLUME
5-Day
18,070
10-Day
18,718
30-Day
13,871
11,347
  • Prev. Close

    161.40

  • Open Price

    161.00

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Mar 27, 15:59
157.40 -3.15 (-1.96%)
Volume
AVERAGE VOLUME
5-Day
402,502
10-Day
428,979
30-Day
375,996
252,339
  • Prev. Close

    160.55

  • Open Price

    164.90

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    157.40 (103)

Annual Report

For Year :
2019 2018 2017 2016 2015 2014 2013 2012 2011

Auditor's Report

1. We have audited the attached balance sheet of V-Guard Industries Private Limited as at 31st March 2007, the profit and loss account and also the cash flow statement for the year ended on that date, both 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 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 issued by the Central Government of India in terms of sub-section (4 A) 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 written representations received from the directors,as on 31st March 2007 and taken on record by the Board of Directors, we report that none of the directors is disqualified as on 31st March 2007 from being appointed as a director in terms of clause(g) of sub-section(l) 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 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 principles generally accepted in India: (a) in the case of the balance sheet, of the state of affairs of the Company as at 3 Is1 March, 2007; (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 the cash flow statement, of the cash flows for the year ended on that date. ANNEXURE TO THE AUDITORS REPORT (Referred to in paragraph 3 of our report of even date) i) The nature of business of the Company during the year is such that the provisions of clauses vi, x, xii, xiii, xiv, xviii to xx of paragraph 4 of the Companies(Auditors Report)Order,2003 are not applicable to the Company for the year ended 31st March 2007. ii) (a) The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets. (b) As explained to us, the Company has a programme of verification of assets and all assets in accordance with the programme, were verified during the year. According to the information and explanations given to us, no material discrepancies were noticed on such verification (c) In our opinion, the fixed assets disposed off during the year were not material so as to affect the going concern status of the Company. iii) (a) The inventory has been physically verified during the year by the management. In our opinion, the frequency of verification is reasonable. (b) 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. (c) The company is maintaining proper records of inventory. The discrepancies noticed on verification between the physical stocks and the book records were not material. iv) (a) The Company has not granted any loans, secured or unsecured, to companies, firms or other parties covered in the register maintained under Section 301 of the Companies Act, 1956. (b) The company had taken unsecured loans from four parties covered in the register maintained under section 301 of the Companies Act, 1956.The maximum amount involved during the year was Rs. 1,251.34 lakhs and the balance outstanding at the year-end was Rs.Nil. (c) In our opinion, the rate of interest and other terms and conditions on which loans have been taken from parties listed in the register maintained under section 301 of the Companies Act, 1956 are not, pritna facie, prejudicial to the interest of the Company. (d) The company is regular in repaying the principal amounts as stipulated and has been regular in the payment of interest. v) In our opinion, and according to the information and explanations given to us, there exists an adequate internal control system commensurate with the size of the Company and the nature of its business with regard to the purchases of inventory, fixed assets and with regard to the sale of goods and services. During the course of our audit, we have not observed any continuing failure to correct major weaknesses in internal control system of the company. vi) (a) To the best of our knowledge and belief, and according to the information and explanations given to us, we are of the opinion that the particulars of all contracts or arrangements that need to be entered into the register maintained under section 301 of the Companies Act, 1956 have been so entered . (b) In our opinion and according to the information and explanations given to us, the transactions made in pursuance of contracts or arrangements entered in the register maintained under Section 301 of the Companies Act, 1956, and exceeding the value of rupees five lakhs in respect of any party during the year have been made at prices which are reasonable having regard to prevailing market prices at the relevant time. 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 and records maintained by the Company in respect of manufacture of PVC electrical insulated cables pursuant to the rules made by the Central Government for maintenance of cost records prescribed under Section 209( 1) (d) of the Companies Act, 1956, and are of the opinion that prima facie, the prescribed accounts and records are made and maintained. However, we have not made a detailed examination of those accounts and records to determine whether they are accurate or complete. To the best of our knowledge, and according to the information and explanations given to us, the Central Government has not prescribed the maintenance of cost records for any other product of the company. k) (a) According to the information and explanations given to us, the Company is generally regular in depositing with appropriate authorities undisputed statutory dues including Provident Fund, Investor Education Protection Fund, Employees State Insurance, Income tax, Sales Tax, Wealth Tax, Service Tax, Customs Duty, Excise Duty, Cess and other material statutory dues applicable to it. (b) According to the information and explanations given to us, no undisputed amounts payable in respect of Income Tax, Sales Tax, Wealth Tax, Service Tax, Customs Duty, and Excise Duty were in arrears, as at 31st March,2007 for a period of more than six months from the date they became payable. (c) According to the information and explanations given to us, details of sales tax dues which have not been deposited on account of any dispute are given below: Name Period to which Amount Forum where of Statutes the amount disputed disputed relates (Rs in lakhs) Kerala General Sales Tax Act 1988-89 to 1994-95 30.62 Supreme Court of India -do- 1994-95 1.58 Sales Tax Appellate Tribunal, Ernakulam -do- 1997-98 10.55 High Court of Kerala. -do- 1998-99&99-00 9.11 Dy. Commissioner (Appeals), Cochin Karnataka Sales 1998-99 49.00 Karnataka Appellate Tribunal, Tax Act Bangalore. Karnataka Value 2005-06 1.32 Commercial tax Officer, Added Tax Act Tumkur check post, Andhra Pradesh General Sales Tax Act 2002-03 1.52 Dy. Commissioner (Appeals), Hyderabad Kerala Tax on Entry 2005-06 5.45 High Court of of goods into Local Kerala, Ernakulam Areas Act, 1994 x) In our opinion, and according to the information and explanations given to us, the Company has not defaulted in repayment of dues to a financial institution or bank except the interest on term loans for March 2007 which is paid subsequently. xi) In our opinion, the terms and conditions on which the company has given guarantee for loans taken by others from banks are not prejudicial to the interest of the company. xii) In our opinion, the term loans have been applied for the purpose for which they were raised. xiii) According to the information and explanations given to us, and on an overall examination of the Balance Sheet of the Company, we report that no funds raised on short-term basis have been used for long-term investment. xiv) According to the information and explanations given to us, no fraud on or by the Company has been noticed or reported during the course of our audit. For S.B. Billimoria & Co. Chartered Accountants Sd/- M. Ramachandran Place : Kochi Partner Date : 29th May 2007 Membership No. 16399