you are here:

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 19, 10:03
226.00 -9.35 (-3.97%)
Volume
AVERAGE VOLUME
5-Day
38,110
10-Day
48,974
30-Day
79,225
6,355
  • Prev. Close

    235.35

  • Open Price

    233.00

  • Bid Price (Qty.)

    225.95 (6)

  • Offer Price (Qty.)

    226.30 (46)

NSE Live

Apr 19, 10:03
226.20 -9.25 (-3.93%)
Volume
AVERAGE VOLUME
5-Day
519,547
10-Day
911,068
30-Day
910,858
94,592
  • Prev. Close

    235.45

  • Open Price

    232.60

  • Bid Price (Qty.)

    225.95 (51)

  • Offer Price (Qty.)

    226.25 (50)

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, 2012, the Statement of Profit and Loss and the Cash Flow Statement of the Company for the year ended on that date, both annexed thereto. These financial statements are the responsibility of the Company''s 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 misstatements. An audit includes examining, on a test basis, evidence supporting the amounts and the disclosures in the financial statements. An audit also includes assessing the accounting principles used and the significant estimates made by the 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 (Auditor''s Report) Order, 2003 (''CARO'') issued by the Central Government in terms of Section 227(4A) 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 in paragraph 3 above, we report as follows: (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 it appears from our examination of those books; (c) the Balance Sheet, the Statement of Profit and Loss and the Cash Flow Statement dealt with by this report are in agreement with the books of account; (d) in our opinion, the Balance Sheet, the Statement of Profit and Loss and the Cash Flow Statement dealt with by this report are in compliance with the Accounting Standards referred to in Section 211(3C) of the Companies Act, 1956; (e) in our opinion, and to the best of our information and according to the explanations given to us, the said accounts 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, 2012; (ii) in the case of the Statement of Profit and Loss, of the profit of the Company for the year ended on that date; and (iii) in the case of the Cash Flow Statement, of the cash flows of the Company for the year ended on that date. 5. On the basis of the written representations received from the Directors as on 31st March, 2012 and taken on record by the Board of Directors, none of the Directors is disqualified as on 31st March, 2012 from being appointed as a director in terms of Section 274(1)(g) of the Companies Act, 1956. (Referred to in paragraph 3 of our report of even date) (i) Having regard to the nature of the Company''s business/activities/result, clauses (iii) (b) to (d), (f) and (g), (vi), (xii) to (xiv), (xix) and (xx) of Companies (Auditor''s Report) Order, 2003 (CARO), are not applicable. (ii) In respect of its fixed assets: (a) The Company has maintained proper records showing full particulars, including quantitative details and situation of the fixed assets. (b) The fixed assets were physically verified during the year by the Management in accordance with a regular programme of verification which, in our opinion, provides for physical verification of all the fixed assets at reasonable intervals. According to the information and explanation given to us, no material discrepancies were noticed on such verification. (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, in our opinion, not affected the going concern status of the Company. (iii) In respect of its inventory: (a) As explained to us, the inventories were physically verified during the year by the Management at reasonable intervals. (b) In our opinion, and according to the information and explanation 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 its business. (c) In our opinion, and according to the information and explanations given to us, the Company has maintained proper records of its inventories 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 listed 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, there is an adequate internal control system commensurate with the size of the Company and the nature of its business with regard to purchases of inventory and fixed assets, and for the sale of goods and services. During the course of our audit, we have not observed any major weakness in such internal control system. (vi) In respect of contracts or arrangements entered in the Register maintained in pursuance of Section 301 of the Companies Act, 1956, to the best of our knowledge and belief and according to the information and explanations given to us: (a) The particulars of contracts or arrangements referred to Section 301 that needed to be entered in the Register maintained under the said Section have been so entered. (b) Where each of such transaction is in excess of Rs.5 lakhs in respect of any party, the transactions have been made at prices which are prima facie reasonable having regard to the prevailing market prices at the relevant time. (vii) In our opinion, the internal audit functions carried out during the year by a firm of Chartered Accountants appointed by the Management have been commensurate with the size of the Company and the nature of its business. (viii) We have broadly reviewed the books of account 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 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 the records with a view to determining whether they are accurate or complete. (ix) According to the information and explanations given to us, in respect of statutory dues: (a) The Company has generally been regular in depositing undisputed dues, including Provident Fund, Investor Education and Protection Fund, Employees'' State Insurance, Income Tax, Sales Tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty, Cess and other material statutory dues applicable to it with the appropriate authorities. (b) There were no undisputed amounts payable in respect of Provident Fund, Investor Education and Protection Fund, Employees'' State Insurance, Income Tax, Sales Tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty, Cess and other material statutory dues in arrears as at 31st March, 2012 for a period of more than six months from the date they became payable. (c) Details of dues of Income Tax, Sales Tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty and Cess which have not been deposited as on 31st March, 2012 on account of disputes are given below: (Rs.in lakhs) Forum where Dispute Period to which Amount Statute Nature of Dues is pending the amount inVolved relates Central Sales Tax Act Central Sales Dy. Commis sioner 1998-99 62.28 Tax (Appeals), Cochin Kerala General Sales Kerala General Dy. Commis sioner 2003-04 & 1.91 Tax Act Sales Tax (Appeals), Cochin 2004-05 Kerala Value Added Kerala Value Dy. Commis sioner 2011-12 2.38 Tax Act Added Tax (Appeals), Cochin Tamil Nadu Value Value Added High Court of Madras 2008-09 59.70 Added Tax Act Tax Jharkhand Value Value Added Commercial Taxes 2009-10 2.30 Added Tax Act Tax & Penalty Tribunal Andhra Pradesh Value Added Appellate April 2006 to 14.10 Value Added Tax Act Tax & Penalty Dy. Commis sioner June 2010 (CT), Hyderabad Andhra Pradesh Value Added Addl. Dy. 2005-06 0.75 Value Added Tax Act Tax Commis sioner (CT), Hyderabad (Rs.in lakhs) Period to which Amount Forum where Dispute is Statute Nature of Dues pending the amount involved relates Central Sales Tax Act Central Sales Addl. Commissioner 01.04.2011 12.78 Tax of Commer cial Taxes to 30.09.2011 (Appeal), Berhampur Central Sales Tax Act Central Sales Addl. Commis sioner 2010-11 8.97 Tax of Commercial Taxes (Appeal), Berhampur Income Tax Act Income Tax Deputy Commis sioner 2007-08 4.53 of Income Tax, Kochi Income Tax Act Income Tax Commissioner of 2008-09 17.00 Income Tax (Appeals), Kochi (i) In our opinion, the Company does not have accumulated losses at the end of the financial year. Further, the Company has not incurred cash losses during the financial year covered by our audit and the immediately preceding financial year. (ii) In our opinion, and according to the information and explanations given to us, the Company has not defaulted in the repayment of dues to banks and financial institutions. (iii) According to information and explanations given to us, the Company has not given any guarantee for loans taken by others from banks or financial institutions. (iv) In our opinion, and according to the information and explanations given to us, the term loans have been applied for the purposes for which they were obtained, other than temporary deployment pending application. (v) In our opinion, and according to the information and explanations given to us, and on an overall examination of the Balance Sheet, we report that funds raised on short-term basis have not been used during the year for long- term investment. (vi) According to information and explanations given to us, the Company has not made any preferential allotment of shares to parties and companies covered in the Register maintained under section 301 of the Act. (vii) To the best of our knowledge, and according to the information and explanations given to us, no fraud by the Company and no fraud on the Company has been noticed or reported during the year. For DELOITTE HASKINS & SELLS Chartered Accountants (Registration No. 008072S) Sd/- M. Ramachandran Kochi Partner 30th May,2012 (Membership No.16399)