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Aayush Food And Herbs Ltd.

BSE: 539528 Sector: Health care
NSE: N.A. ISIN Code: INE430R01015
BSE LIVE 15:15 | 07 Dec 17.50 -0.75
(-4.11%)
OPEN

17.50

HIGH

17.50

LOW

17.50

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 17.50
PREVIOUS CLOSE 18.25
VOLUME 240
52-Week high 45.45
52-Week low 12.50
P/E 21.60
Mkt Cap.(Rs cr) 5.69
Buy Price 17.50
Buy Qty 159.00
Sell Price 19.10
Sell Qty 2448.00
OPEN 17.50
CLOSE 18.25
VOLUME 240
52-Week high 45.45
52-Week low 12.50
P/E 21.60
Mkt Cap.(Rs cr) 5.69
Buy Price 17.50
Buy Qty 159.00
Sell Price 19.10
Sell Qty 2448.00

Aayush Food And Herbs Ltd. (AAYUSHFOODHERB) - Auditors Report

Company auditors report

To

The Members of

AAYUSH FOOD AND HERBS LIMITED

REPORT ON THE FINANCIAL STATEMENTS

We have audited the accompanying financial statements of Aayush Food And Herbs Limitedwhich comprise the Balance Sheet as at 31 March 2016 the Statement of Profit and Lossthe Cash Flow Statement for the year then ended and a summary of significant accountingpolicies and other explanatory information.

MANAGEMENT'S RESPONSIBILITY FOR THE FINANCIAL STATEMENTS

The Company's Board of Directors is responsible for the matters stated in section134(5) of the Companies Act 2013 with respect to the preparation and presentation ofthese financial statements that give a true and fair view of the financial positionfinancial performance and cash flows of the Company in accordance with the accountingprinciples generally accepted in India including the Accounting Standards specified underSection 133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014. Thisresponsibility also includes the maintenance of adequate accounting records in accordancewith the provision of the Act for safeguarding of the assets of the Company and forpreventing and detecting the frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of adequate internal financialcontrol that were operating effectively for ensuring the accuracy and completeness of theaccounting records relevant to the preparation and presentation of the financialstatements that give a true and fair view and are free from material misstatement whetherdue to fraud or error.

AUDITOR'S RESPONSIBILITY

Our responsibility is to express an opinion on these financial statements based on ouraudit.

We have taken into account the provisions of the Act the accounting and auditingstandards and matters which are required to be included in the audit report under theprovisions of the Act and the Rules made thereunder.

We conducted our audit in accordance with the Standards on Auditing specified undersection 143(10) of the Act. Those Standards require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetherthe financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the financial statements. The procedures selected depend on the auditor'sjudgment including the assessment of the risks of material misstatement of the financialstatements whether due to fraud or error. In making those risk assessments the auditorconsiders internal financial control relevant to the Company's preparation of thefinancial statements that give true and fair view in order to design audit proceduresthat are appropriate in the circumstances but not for the purpose of expressing anopinion on whether the Company has in place an adequate internal financial controls systemover financial reporting and operating effectiveness of such controls. An audit alsoincludes evaluating the appropriateness of accounting policies used and the reasonablenessof the accounting estimates made by Company's Directors as well as evaluating the overallpresentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on thefinancial statements.

OPINION

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid financial statements give the information required by the Actin the manner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India of the state of affairs of the Company as at31stMarch2016 its profit/loss and its cash flows for the year ended on that date.

REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS

1. As required by the Companies (Auditor's Report) Order 2016 issued by the CentralGovernment of India in terms of sub-section (11) of section 143 of the Act we give in the'Annexure A' a statement on the matters Specified in paragraphs 3 and 4 of theOrder to the extent applicable.

2. As required by section 143(3) of the Act we report that:

a) We have sought and obtained all the information and explanations which to thebest 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 theCompany so far as it appears from our examination of those books.

c) The Balance Sheet the Statement of Profit and Loss and Cash Flow Statementdealt with by this Report are in agreement with the books of account.

d) In our opinion the financial statements comply with the Accounting Standardsspecified under Section 133 of the Act read with Rule 7 of the Companies (Accounts)Rules 2014.

e) On the basis of written representations received from the directors as on 31March 2016 taken on record by the Board of Directors none of the directors isdisqualified as on 31 March 2016 from being appointed as a director in terms of Section164(2) of the Act.

f) With the respect to the adequacy of the internal financial control overfinancial reporting of the company and the operating effectiveness of such control referto our separate Report in "Annexure B"

g) In our opinion and to the best of our information and according to the explanationsgiven to us we report as under with respect to other matters to be included in theAuditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules2014:

i) The Company does not have any pending litigations which would impact itsfinancial position.

ii) The Company did not have any long-term contracts including derivativescontracts for which there were any material foreseeable losses.

iii) There were no amounts which required to be transferred by the Company to theInvestor Education and Protection Fund.

For: Sudhir Agarwal & Associates
CHARTERED ACCOUNTANTS
Firm Reg.No. 509930C
Sd/-
Date: 25/05/2016 CA. Amit Kumar
Place: New Delhi (Partner)
M.NO.518735

"ANNEXURE A" TO THE INDEPENDENT AUDITORS' REPORT

Referred to in paragraph 1 under the heading of "Report on Other Legal andRegulatory Requirements" of our report of even date to the financial statementsofthecompanyfortheyearended march 312016

i) (a) The company has maintained proper records showing full particularsincluding quantitative details and situation of fixed assets;

(b) The Fixed Assets have been physically verified by the management in a phasedmanner design to cover all the items over a period of three years which in our opinionis reasonable having regard to the size of the company and the nature of its business.Pursuant to the program a portion of the fixed assets has been physically verified by themanagement during the year and no material discrepancies between the books records and thephysical fixed assets have been noticed.

ii) (a) Physical verification of inventory has been conducted at reasonableintervals by the management;

(b) The discrepancies noticed on physical verification of the inventory as comparedto books records which has been properly dealt with in the books of account were notmaterial.

(iii) The company has not granted any loans secured or unsecured to companiesfirms limited liability partnerships or other parties covered in the register maintainedunder section 189 of the Companies Act. Accordingly the provisions of clause 3(ii) (a) to(c) of the order are not applicabletothe company and hence not commented upon.

(iv) In our Opinion and according to the information and explanations given to usthe company has complied with the provision of section 185 and 186 of the company act2013. In respect of loan investment guarantees and security.

(v) The company has not accepted any deposits from the public and hence thedirectives issued by the Reserve Bank of India and the provisions of sections 73 to 76 orany other relevant provisions of the Companies Act and the Companies (Acceptance ofDeposit) rules2015 with regard to the deposits accepted from the public are notapplicable.

(vi) As informed to us the maintenance of cost records has not been specified bythe Central Government under sub section (1) of section 148 of the Act in respect of theactivities carried on by the company.

(vii) (a) According to the information and explanation given to us and on the basisof our examination of the books of account and records the company has been generallyregular in depositing undisputed statutory dues including provident fund employees' stateinsurance income-tax sales-tax wealth tax service tax duty of customs duty ofexcise value added tax cess and any other statutory dues with the appropriateauthorities.. According to the information and explanations given to us no undisputedamounts payable in respect of the above were in arrears as at March 31 2016 for a periodof more than six months from the date on when they become payable.

(b) According to the information and explanation given to usthere are no dues ofincome tax sales tax service tax duty of customs duty of excise value added taxoutstanding on account of any dispute..

(viii) In our opinion and according to the information and explanations given tous The Company has not defaulted in the repayment of dues to banks. The Company has nottaken any loan either from financial institution or from the government and has not issuedany debentures.

(ix) Based upon the audit procedures performed and the information and explanationsgiven by the management the company has not raised moneys by way of initial public offerincluding debt instrument and terms loans. Accordingly the provisions of clause 3 (ix) ofthe order are not applicable tothecompanyand hence not commented upon..

(x) Based upon the audit procedures performed and the information and explanationsgiven by the management we report that no fraud by the company or on the company by itsofficers or employees has been noticed or reported during the year.

(xi) Based upon the audit procedures performed and the information and explanationsgiven by the management the managerial remuneration has been paid or provided inaccordance with the requisite approvals mandated by the provisions of section 197 readwith schedule V to the Companies Act.

(xii) In our opinion the Company is not a Nidhi Company. Therefore the provisionsof clause 4 (xii) of the order are not applicable to the company.

(xiii) In our opinion all transactions with the related parties are in compliancewith section 177 and 188 of Companies Act 2013 and the details have been disclosed in theFinancial Statements as required by the applicable accounting standards

(xiv) Based upon the audit procedures performed and the information andexplanations given by the management the company has not made any preferential allotmentor private placements of shares or fully or partly convertible debentures during the yearunder review. Accordingly the provisions of clause 3 (xiv) of the order are notapplicable to the company and hence not commented upon

(xv) Based upon the audit procedures performed and the information and explanationsgiven by the management the company has not entered into any non-cash transactions withdirectors or persons connected with him. Accordingly the provisions of clause 3 (xv) ofthe order are not applicable tothecompanyand hence not commented upon.

For: SUDHIR AGARWAL & ASSOCIATES
CHARTERED ACCOUNTANTS
Firm Reg. No. 509930C
Sd/-
Date: 25/05/2016 CA. Amit Kumar
Place: New Delhi (Partner)
M.NO.518735

"ANNEXURE B" TO THE INDEPENDENT AUDITOR'S REPORT

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section143 of the Companies Act 2013 ("the Act")

We have audited the internal financial controls over financial reporting of AayushFood And Herbs Limited of March 31 2016 in conjunction with our audit of thestandalone financial statements of the Company fortheyear ended on that date.

MANAGEMENT'S RESPONSIBILITY FOR INTERNAL FINANCIAL CONTROLS

The Company's management is responsible for establishing and maintaining internalfinancial controls based on "the internal control over financial reporting criteriaestablished by the Company considering the essential components of internal control statedin the Guidance Note on Audit of Internal Financial Controls Over Financial Reportingissued by the Institute of Chartered Accountants of India". These responsibilitiesinclude the design implementation and maintenance of adequate internal financial controlsthat were operating effectively for ensuring the orderly and efficient conduct of itsbusiness including adherence to company's policies the safeguarding of its assets theprevention and detection of frauds and errors the accuracy and completeness of theaccounting records and the timely preparation of reliable financial information asrequired under the Companies Act 2013.

AUDITORS' RESPONSIBILITY

Our responsibility is to express an opinion on the Company's internal financialcontrols over financial reporting based on our audit. We conducted our audit in accordancewith the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting(the "Guidance Note") and the Standards on Auditing issued by ICAI and deemedto be prescribed under section 143(10) of the Companies Act 2013 to the extentapplicable to an audit of internal financial controls both applicable to an audit ofInternal Financial Controls and both issued by the Institute of Chartered Accountants ofIndia. Those Standards and the Guidance Note require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetheradequate internal financial controls over financial reporting was established andmaintained and if such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy ofthe internal financial controls system over financial reporting and their operatingeffectiveness. Our audit of internal financial controls over financial reporting includedobtaining an understanding of internal financial controls over financial reportingassessing the risk that a material weakness exists and testing and evaluating the designand operating effectiveness of internal control based on the assessed risk. The proceduresselected depend on the auditor's judgement including the assessment of the risks ofmaterial misstatement of the financial statements whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the Company's internal financial controls systemover financial reporting.

MEANING OF INTERNAL FINANCIAL CONTROLS OVER FINANCIAL REPORTING

A company's internal financial control over financial reporting is a process designedto provide reasonable assurance regarding the reliability of financial reporting and thepreparation of financial statements for external purposes in accordance with generallyaccepted accounting principles. A company's internal financial control over financialreporting includes those policies and procedures that

(1) pertain to the maintenance of records that in reasonable detail accurately andfairly reflect the transactions and dispositions of the assets of the company; (2) providereasonable assurance that transactions are recorded as necessary to permit preparation offinancial statements in accordance with generally accepted accounting principles and thatreceipts and expenditures of the company are being made only in accordance withauthorizations of management and directors of the company; and (3) provide reasonableassurance regarding prevention or timely detection of unauthorized acquisition use ordisposition of the company's assets that could have a material effect on the financialstatements.

INHERENT LIMITATIONS OF INTERNAL FINANCIAL CONTROLS OVER FINANCIAL REPORTING

Because of the inherent limitations of internal financial controls over financialreporting including the possibility of collusion or improper management override ofcontrols material misstatements due to error or fraud may occur and not be detected.Also projections of any evaluation of the internal financial controls over financialreporting to future periods are subject to the risk that the internal financial controlover financial reporting may become inadequate because of changes in conditions or thatthe degree of compliance with the policies or procedures may deteriorate.

OPINION

In our opinion the Company has in all material respects an adequate internalfinancial controls system over financial reporting and such internal financial controlsover financial reporting were operating effectively as at March 31 2016 based on"the internal control over financial reporting criteria established by the Companyconsidering the essential components of internal control stated in the Guidance Note onAudit of Internal Financial Controls Over Financial Reporting issued by the Institute ofChartered Accountants of India".

For: SUDHIR AGARWAL & ASSOCIATES
CHARTERED ACCOUNTANTS
Firm Reg. No. 509930C
Sd/-
Date: 25/05/2016 CA. Amit Kumar
Place: New Delhi (Partner)
M.NO.518735

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