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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

Mar 30, 16:00
157.90 0.40 (0.25%)
Volume
AVERAGE VOLUME
5-Day
16,049
10-Day
16,606
30-Day
13,782
14,998
  • Prev. Close

    157.50

  • Open Price

    157.25

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Mar 30, 15:58
154.10 -3.30 (-2.10%)
Volume
AVERAGE VOLUME
5-Day
365,329
10-Day
380,738
30-Day
378,648
256,303
  • Prev. Close

    157.40

  • Open Price

    152.00

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    154.10 (987)

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 (the Company) as at 31st March 2009, 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, the profit and loss account and the 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 2009 and taken on record by the Board of Directors, we report that none of the directors is disqualified as on 31st March 2009 from being appointed as a director in terms of clause (g) of sub-section (1) 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 31st March 2009; (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 (iv) with regard to sale of services, (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 2009. 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, the discrepancies noticed on physical verification were not material and have been properly dealt with in the books of account. (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) As explained to us, inventory was physically verified by the management at periodic 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 inventory followed by the management are reasonable and adequate in relation to the size of the Company and the nature of its business. (c) In our opinion, and according to the information and explanations given to us, the Company is maintaining proper records of inventory and no material discrepancies were noticed on physical verification. iv) The Company has neither 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 the size and nature of its business for the purchase of inventory and fixed assets, and sale of goods. 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 contracts or arrangements referred to in section 301 of the Companies Act, 1956 have been entered in the register required to be maintained under that section. (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 relating to the manufacture of PVC insulated electrical cables, pursuant to the Rules made by the Central Government for the maintenance of cost records under Section 209(l)(d) of the Companies Act, 1956, and are of the opinion that, prima facie, the prescribed accounts and records have been made and maintained. We have, however, not made a detailed examination of those accounts and records with a view to determining 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 products of the Company. ix) (a) According to the information and explanations given to us, the Company has generally been regular in depositing 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 with appropriate authorities during the year and no undisputed amounts were 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 and explanations given to us, except for the following disputed Sales Tax demands, 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: Name of Statutes Peroid to Which Amount Forum the amount relates disputed where is pending (Rs. Lakhs) Kerala General Sales 1988-89 to 1994- 31.16 Supreme Court of Tax Act_95India 95 India -do- 1997-98 10.55 High Court of Kerala_ - do - 1998-99 3.78 Dy. Commissioner (Appeals), Cochin Andhra Pradesh VAT 2005-06 0.75 Addl. Dy. Act Commissioner (CT), Hyderabad x) In our opinion, and according to the information and explanations given to us, 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 the information and explanations given to us, the term loans have been applied for the purpose for which they were obtained. xii) In our opinion, and 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 for long-term investment. xiii) In our opinion, and according to the information and explanations given to us, the management has disclosed the end use of moneys raised by public issue and have been verified by us. 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: Coimbatore Partner Date: 29th May 2009 Membership No.23418