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Alufluoride Ltd.

BSE: 524634 Sector: Industrials
NSE: N.A. ISIN Code: INE058F01019
BSE LIVE 15:19 | 02 Dec 30.25 -0.75
(-2.42%)
OPEN

30.20

HIGH

30.90

LOW

30.00

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 30.20
PREVIOUS CLOSE 31.00
VOLUME 2258
52-Week high 37.80
52-Week low 16.00
P/E 10.77
Mkt Cap.(Rs cr) 21.18
Buy Price 30.25
Buy Qty 158.00
Sell Price 30.80
Sell Qty 100.00
OPEN 30.20
CLOSE 31.00
VOLUME 2258
52-Week high 37.80
52-Week low 16.00
P/E 10.77
Mkt Cap.(Rs cr) 21.18
Buy Price 30.25
Buy Qty 158.00
Sell Price 30.80
Sell Qty 100.00

Alufluoride Ltd. (ALUFLUORIDE) - Auditors Report

Company auditors report

ALUFLUORIDE LIMITED ANNUAL REPORT 2011-2012 AUDITORS' REPORT To The Members of Alufluoride Limited Visakhapatnam, A.P. 1. We have audited the attached Balance Sheet of Alufluoride Limited, as at 31st March 2012, and also the Statement of 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 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 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 (Auditor's report) Order, 2003(as amended), 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 paragraph 4 and 5 of the said Order. 4. Further to our comments in the Annexure referred to in paragraph 3 above, we report that: (a) We have obtained all the information and the explanations, which to the best of our knowledge and belief were necessary for the purpose of our audit; (b) In our opinion, proper books of accounts as required by law have been kept by the company so far as appears from our examination of those books; (c) The Balance sheet, Statement of Profit and Loss Account 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, Statement of Profit and Loss Account and Cash Flow Statement dealt with by this report, comply with accounting standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956; (e) On the basis of written representations received from the directors, as on 31st March 2012 and taken on record by the Board of Director, we report that none of the Directors are disqualified as on 31st March, 2012 from being appointed as Directors in terms of Clause (g) of Sub-section (1) of Section 274 of the Companies Act, 1956; (f) 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 Account of the PROFIT for the year ended on that date; and (iii) In the case of the Cash Flow Statement, of the cash flows for the year ended on that date. For RAO & KUMAR Chartered Accountants FRN. 03089S CA V.V. RAM MOHAN Place: Visakhapatnam Partner Date : 30 July, 2012 Memb. No. 18788 ANNEXURE TO AUDITORS' REPORT: Referred to in paragraph 3 of our Report of even date. 1. (a) The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets. (b) All assets have been physically verified by the management during the year. There is a phased program of verification which in our opinion is reasonable having regard to the size of the company and the nature of its assets. The frequency of verification is reasonable and no material discrepancies were noticed on such physical verification. (c) No substantial part of fixed assets of the company has been disposed off during the year, which would effect its status as a going concern. 2. (a) Inventories have been physically verified during the year by the management at reasonable intervals. (b) The procedure for 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 has maintained proper records of inventories and discrepancies noticed on physical verification as compared to the book records were not material. However, the same have been properly dealt with, in the Books of Accounts. 3. (a) According to. the information and explanations given to us, the Company has not taken any loans from companies, firms or other parties covered in the Register, maintained under Section 301 of the Companies Act, 1956. The company has not granted any loans to companies, firms or other parties covered in the Register, maintained under Section 301 of the Companies Act, 1956. (b) The Company has neither taken nor granted any loans from companies, firms or other parties covered in the Register, maintained under Section 301 of the Companies Act, 1956 and hence the sub-clauses (b), (c) & (d) are not applicable. 4. In our opinion and according to the information and explanations given to us, there are adequate internal control procedures commensurate with the size of the company and the nature of its business with regards to purchase of inventory, fixed assets and with regard to the sale of goods and services. In our opinion there is no continuing failure to correct major weaknesses in internal control. 5. According to the information and explanations given to us, in our opinion there are no transactions of purchase and sale of goods, material and services that need to be entered into the register maintained under section 301 of the Companies Act, 1956. As there are no such transactions, clause (b) of paragraph 4(v) is inapplicable. 6. The Company had not accepted any deposits from the public. As such, the directives issued by the Reserve Bank of India and the provisions of Section 58A & 58AA of the Act and the rules framed there under are inapplicable. 7. In our opinion, the company has an Internal Audit system, the scope and coverage of which, in our opinion is required to be enlarged to be commensurate with the size and nature of its business. 8. 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 we are of the opinion that prima-facie the prescribed accounts and records have been made and maintained in respect of the applicable products. We have however not made a detailed examination of the records with a view to determine whether they are accurate and complete. 9. (a) According to the records of the Company, the company has been regular in depositing with appropriate authorities, undisputed statutory dues including Provident Fund, Income Tax, Sales Tax, Wealth 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, Wealth Tax, Sales Tax, Customs Duty, Excise Duty and Cess were in arrears as at 31st March, 2012, for a period of more than six months from the date they became payable except for Rs.35,00,000/- payable for Income Tax Assessment pending before CIT (Appeals) for the A.Y 2007-08. (c) According to the information and explanations given to us there are no dues of Income Tax, Wealth Tax, Sales Tax, Customs Duty, Excise Duty and Cess which have not been deposited on account of any dispute. 10. In our opinion, the Company has no accumulated losses and has not incurred any cash losses in the current financial year but Rs.2.97 Lacs in the immediately preceding financial year. 11. In our opinion, the company does not have any dues to banks and no debentures are issued. 12. In our opinion and according to the information and explanations given to us, the Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities. 13. In our opinion, the Company is not a chit fund or a nidhi/mutual benefit fund/society. Therefore, the provisions of clause 4(xiii) of the Companies (Auditor's Report) Order, 2003 are not applicable to the Company. 14. In our opinion, the company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly, the provisions of clause 4(xiv) of the Companies (Auditor's Report) Order, 2003 are not applicable to the Company. 15. We are informed that the company has not given any guarantee for loans taken by others from banks or financial institutions. 16. According to information and explanations given to us, the Company had not availed any term loan during the year. 17. According to the information and explanations given to us and on an overall examination of the balance sheet of the Company, we report that no funds raised on short-term basis have been used for long-term investment. The Company has not raised any funds on long-term basis during the year. 18. According to the 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, during the year. 19. According to the information and explanations given to us, the Company had not issued debentures during the year. 20. According to the information and explanations given to us, the company has not raised money by public issues during the year. 21. According to the information and explanations given to us, no fraud on or by the Company has been noticed or reported during the course of our audit. For RAO & KUMAR Chartered Accountants FRN. 03089S CA V.V. RAM MOHAN Place: Visakhapatnam Partner Date : 30 July, 2012 Memb. No. 18788

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