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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

BSE Live

Apr 09, 16:00
240.55 -1.55 (-0.64%)
Volume
AVERAGE VOLUME
5-Day
45,105
10-Day
67,309
30-Day
82,659
15,215
  • Prev. Close

    242.10

  • Open Price

    242.20

  • Bid Price (Qty.)

    240.00 (1)

  • Offer Price (Qty.)

    240.55 (155)

NSE Live

Apr 09, 15:58
240.50 -1.80 (-0.74%)
Volume
AVERAGE VOLUME
5-Day
994,558
10-Day
1,181,916
30-Day
904,392
312,046
  • Prev. Close

    242.30

  • Open Price

    242.00

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    240.50 (192)

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 Limited as at 31st March 2008, the profit and loss account and 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 (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. 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, the profit and loss account and the 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 2008 and taken on record by the Board of Directors, we report that none of the directors is disqualified as on 31st March 2008 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 theron 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 31s1 March, 2008; (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 TOTHE 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) to (xv), (xviii) and (xix) of paragraph 4 of the Companies (Auditors Report) Order, 2003, are not applicable to the Company for the year ended 31st March 2008. 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, me fixed assets disposed off during the year were not material so as to affect the going concern status of the Company. iii) (a) As explained to us, inventory was physically verified by the management during the year. 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) The Company has neitiier granted nor taken any loans, secured or unsecured, to/from companies, firms or other parties covered in the register maintained under Section 301 of the Companies Act, 1956. v) In our opinion, and according to the information and explanations given to us, the Company has an adequate internal control system commensurate with its size and nature of its business with regard to the purchases of inventory and fixed assets, and sale of goods and services. During the course of our audit, we have not observed any continuing failure to correct major weaknesses in the internal control system. 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. ix) (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, 2008 for a period of more than six months from the date they became payable. (c) According to the information and explanations given to us, except for the following disputed Sales Tax dues, there are no disputed dues in respect of Income tax, Wealth Tax, Service Tax, Customs Duty, Excise Duty or Cess, which have not been deposited as at the Balance Sheet date: Period to which the Name of Statutes amount relates Kerala General Sales 1988-89 to Tax Act -do- 1994-95 -do- 1997-98 -do 1998-99&99-00 Andhra Pradesh General Sales Tax Act 2002-03 Andhra Pradesh VAT 2005-06 Amount disputed Forum where disputed (Rs. in lakhs) 30.62 Supreme Court of India Sales Tax Appellate Tribunal, Ernakulam 10.55 High Court of Kerala. Dy. Commissioner (Appeals), Cochin Dy. Commissioner (Appeals), Hyderabad Addl. Dy Commissioner (CT), Andhra Pradesh x) In our opinion, and according to the information and explanations given to us, except for interest on term loans for March 2008, which was paid subsequently, the Company has not defaulted in the repayment of dues to a financial institution and banks from which loans have been availed. xi) In our opinion, and according to information and explanations given to us the term loans have been applied for the purposes for which they were availed. xii) According to the information and explanations given to us, and on an overall examination of the Balance Sheet of the Company, we report that funds raised on short-term basis have, prima facie, not been used during the year for long-term investment. xiii) We have verified the end use of money raised by public issue from the draft prospectus filed with Securities & Exchange Board of India (SEBI), the offer document and as disclosed in the notes to the financial statements. xiv) According to the information and explanations given to us, no fraud on or by the Company was noticed or reported during the year. For Deloitte Haskins & Sells Chartered Accountants Sd/- C.R. Rajagopal Place : Kochi Partner Date : 19th May 2008 Membership No. 23418