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Wheels India Ltd.

BSE: 590073 | NSE: WHEELS |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE715A01015 | SECTOR: Auto Ancillaries

BSE Live

Jul 08, 12:17
461.45 26.25 (6.03%)
Volume
AVERAGE VOLUME
5-Day
2,420
10-Day
348,834
30-Day
157,758
6,526
  • Prev. Close

    435.20

  • Open Price

    436.00

  • Bid Price (Qty.)

    461.40 (20)

  • Offer Price (Qty.)

    463.20 (26)

NSE Live

Jul 08, 12:17
462.00 24.10 (5.50%)
Volume
AVERAGE VOLUME
5-Day
22,988
10-Day
76,181
30-Day
40,853
48,285
  • Prev. Close

    437.90

  • Open Price

    433.30

  • Bid Price (Qty.)

    462.00 (90)

  • Offer Price (Qty.)

    462.75 (14)

Annual Report

For Year :
2018 2017 2016 2015 2014 2013 2012 2011 2010

Auditor's Report

We have audited the attached Balance Sheet of Wheels India Limited as at 31 st March, 2010, the Profit and Loss Account and 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. We conducted our audit in accordance with 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. As required by the Companies (Auditors Report) Order, 2003 and on the basis of such checks of the books and records of the Company as we considered appropriate and the information and explanations given to us during the course of our audit, we enclose in the annexure a statement on the matters specified in the said order. 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 and Profit and Loss Account dealt with by this report are in agreement with the books of account. iv. In our opinion, the Balance Sheet and Profit and Loss Account 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. As per information furnished to us, no Director of the Company is disqualified as on 31 st March, 2010 from being appointed as Director under 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 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 2010; 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 cash flow statement, of the cash flows for the year ended on that date. Annexure to the Report of Auditors I. (a) The Company is maintaining proper records showing full particulars, including quantitative details and situation of fixed assets. (b) These fixed assets have been physically verified by the Management at reasonable intervals. We are informed that no material discrepancies were noticed on such verification. (c) The company has not disposed of substantial part of fixed assets during the year. II. (a) Physical verification of inventory has been conducted at reasonable intervals by the Management (b) 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) The company is maintaining proper records of inventory and the discrepancies noticed on physical verification which were not material, have been properly dealt with in the books of account. III. 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 Act: Hence, the clauses (iii) (b) to (g) of the order are not applicable. IV. 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, fixed assets and for the sale of goods and services. There is no continuous failure to correct major weaknesses in internal control system. V. (a) The particulars of contracts or arrangements referred to in Section 301 of the Act have been entered in the register required to be maintained under the section. (b) The transactions made in pursuance of such contracts or arrangements have been made at prices which are reasonable having regard to the prevailing market prices at the relevant time. VI. The company has complied with the provisions of Section 58 A and 58 AA or any other relevant provisions of the Act and the Rules framed thereunder with regard to the deposits accepted from the public. VII. The company has an adequate internal audit system commensurate with its size and nature of its business VIII. The company has made and maintained the accounts and records prescribed by the Central Government under Section 209 (1) (d) of the Companies Act, 1956 and we have broadly reviewed the same. IX. (a) The company is regular in depositing undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees State Insurance, Income Tax, Sales Tax, Value Added Tax, Wealth Tax, Service Tax, Customs Duty, Excise Duty, Cess and any other statutory dues with the appropriate authorities. (b) There were no disputed tax dues which have not been deposited with the respective authorities in respect of Income Tax, Wealth Tax, Excise Duty, Customs Duty, Value Added Tax and Cess. However disputed Service Tax and Property Tax aggregating to Rs 75.86 lakhs has not been deposited on account of disputes which are contested in appeals and are pending before Central Excise and Service Tax Appellate Tribunal and Madras High Court. X The company has no accumulated losses and has not incurred cash losses during this financial year or in the immediately preceding financial year. XI. The company has not defaulted in repayment of dues to a financial institution or bank. XII. The company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities. XIII. The company is not a chit fund or a nidhi / mutual benefit fund / society. Therefore, clause 4 (xiii) of the order is not applicable to the company. XIV. The company is not dealing or trading in shares, securities, debentures and other investments. XV. The company has not given any guarantee for loans taken by others from banks or financial institutions. XVI. The term loans were applied for the purpose for which the loans were obtained. XVII. Based on the balance sheet and fund flow statement of the company in our opinion the funds raised on short term basis have not been used for long term investments. XVIII. The company has not made any preferential allotment of shares during the year. XIX The company has not issued any debentures during the year. XX The company has not raised any money by way of public issues during the year. XXI. No fraud on or by the company has been noticed or reported during the year. For SUNDARAM AND SRINIVASAN Chartered Accountants (Registration No.: 004207S) K. Srinivasan Chennai Partner 29th May, 2010 Membership No. 5809