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Amrutanjan Health Care Ltd.

BSE: 590006 Sector: Health care
NSE: AMRUTANJAN ISIN Code: INE098F01023
BSE LIVE 15:45 | 15 Dec 589.05 4.25
(0.73%)
OPEN

581.00

HIGH

599.15

LOW

575.00

NSE 15:31 | 15 Dec 590.00 4.60
(0.79%)
OPEN

585.00

HIGH

596.80

LOW

576.20

OPEN 581.00
PREVIOUS CLOSE 584.80
VOLUME 2284
52-Week high 790.00
52-Week low 511.00
P/E 46.71
Mkt Cap.(Rs cr) 860
Buy Price 589.05
Buy Qty 38.00
Sell Price 0.00
Sell Qty 0.00
OPEN 581.00
CLOSE 584.80
VOLUME 2284
52-Week high 790.00
52-Week low 511.00
P/E 46.71
Mkt Cap.(Rs cr) 860
Buy Price 589.05
Buy Qty 38.00
Sell Price 0.00
Sell Qty 0.00

Amrutanjan Health Care Ltd. (AMRUTANJAN) - Auditors Report

Company auditors report

To the Members of Amrutanjan Health Care Limited Report on the Financial Statements

We have audited the accompanying financial statements of Amrutanjan Health Care Limited(‘the Company') which comprise the Balance Sheet as at 31st March 2017 the Statementof Profit and Loss and the Cash Flow Statement for the year then ended and a summary ofsignificant accounting policies 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 ("the Acf) with respect to the preparation of thesefinancial statements that give a true and fair view of the financial position financialperformance and cash flows of the Company in accordance with the accounting principlesgenerally accepted in India including the Accounting Standards specified under Section133 of the Act read with the Rule 7 of the Companies (Accounts) Rules 2014. Thisresponsibility also includes maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding of the assets of the Company and for preventingand detecting frauds and other irregularities; selection and application of appropriateaccounting policies; making judgments and estimates that are reasonable and prudent; anddesign implementation and maintenance of adequate internal financial controls that wereoperating effectively for ensuring the accuracy and completeness of the accountingrecords relevant to the preparation and presentation of the financial statements thatgive a true and fair view and are free from material misstatement whether due to fraud orerror.

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 a true and fair view in order to design audit proceduresthat are appropriate in

the circumstances. An audit also includes evaluating the appropriateness of accountingpolicies used and the reasonableness of the accounting estimates made by the Company'sDirectors as well as evaluating the overall presentation 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 the financial statements.

Opinion

In our opinion and the best of our information and according to the explanations givento us the aforesaid financial statements give the information required by the Act in themanner 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 at 31stMarch 2017 and its profit 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 (‘the Order")issued by the Central Government of India in terms of subsection (11) of section 143 ofthe Companies Act2013 we give in the Annexure A a statement on the matters specified inthe paragraph 3 and 4 of the Order 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 the bestof our knowledge and belief were necessary for the purpose 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 Statement of Profit and Loss and Cash Flow Statement dealt withby this report are in agreement with the books of account.

d) In our opinion the afore said financial statements comply with the AccountingStandards specified 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 31stMarch 2017 and taken on record by the Board of Directors none of the Directors aredisqualified as on 31st March 2017 from being appointed as a Director in terms of 164(2)of the Act.

f) With respect to the adequacy of the internal financial controls over financialreporting of the Company and the operating effectiveness of such controls refer to ourseparate report in ‘Annexure B' and

g) With respect to the other matters to be included in the Auditor's Report inaccordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinionand to the best of our information and according to the explanation given to us:

i. The Company has disclosed the impact of pending litigations on its financialposition in its financial statements - Refer Note 28 (c) - (f) to the financialstatements;

ii. The Company does not have any long term contracts including derivative contractsfor which there were any material foreseeable losses.

iii. There has been no delay in transferring amounts required to be transferred tothe Investor Education and Protection Fund by the Company.

iv. The Company has provided requisite disclosures in Note 37 to the financialstatements as to holdings as well as dealings in Specified Bank Notes during the periodfrom November 8 2016 to December 30 2016. Based on audit procedures and relying on themanagement representation we report that the disclosures are in accordance with books ofaccount maintained by the Company and as produced to us by the management.

For P.S.SUBRAMANIA IYER & CO.
Chartered Accountants
Firm Registration No: 004104S
V.Swaminathan
Place: Chennai Partner
Date: 14.08.2017 Membership No : 22276

Annexure to the Independent Auditors' Report

The Annexure referred to in Independent Auditor's Report to the

members of the Company on the financial statements for the year

ended March 312017 we report that:

i) a) (a) The Company has maintained proper records showing full

particulars including quantitative details and situation of fixed assets;

(b) The Fixed Assets have been physically verified by the management in a phasedmanner designed to cover all the items over a period of three years which in ouropinion is reasonable having regard to the size of the Company and nature of itsbusiness. Pursuant to the program a portion of the fixed asset has been physicallyverified by the management during the year and no material discrepancies between the booksrecords and the physical fixed assets have been noticed.

(c) According to the information and the explanations given to us and on the basis ofour examination of the records of the Company the title deeds of immovable properties areheld in the name of the Company.

ii) The Inventory has been physically verified at reasonable intervals by themanagement and no material discrepancies were noticed.

(iii) The Company has granted unsecured loan to a Company covered in the registermaintained under section 189 of the Companies Act 2013.

(a) In our opinion the rate of interest and other terms and conditions on which theloans had been granted to the body corporate listed in the register maintained undersection 189 of the Act were not prima facie prejudicial to the interests of the Company.

(b) The terms of arrangement do not stipulate any repayment schedule for principal.However interest is charged under Section 186 of the Act and received.

(c) As there are no schedules for repayment of principle and Interest we are unable tooffer our views regarding their overdue position.

(iv) In our opinion and according to the information and explanations given to us theCompany has not made any loans investments guarantees and securities under section 185and 186 of the Companies Act 2013.

(v) The Company has not accepted any deposits from the public and hence the directivesissued by the Reserve Bank of India and the provisions of Sections 73 to 76 or any otherrelevant provisions of the Act and the Companies (Acceptance of Deposit) Rules 2015 withregard to the deposits accepted from the public are not applicable.

(vi) We have broadly reviewed the books of accounts maintained by the Company pursuantto the rules made by Central government for the maintenance of Cost Records u/s 148(1) ofthe Act and are of the opinion that prima facie the prescribed accounts and records havebeen made and maintained. We have not however made a detailed examination of records.

(vii) a) According to the information and explanations given to us the

Company is regular in depositing undisputed statutory dues including provident fundemployees state insurance investor education and protection fund income tax sales taxservice tax customs duty excise duty cess and other statutory dues with the appropriateauthorities. No undisputed amount payable in respect of income tax service tax salestax customs duty and excise duty were outstanding as at 31st March 2017 for a period ofmore than six months from the date they became payable.

b) According to the information and explanations given to us details of dues of incometax sales tax wealth tax service tax customs duty excise duty cess which have notbeen deposited on account of any dispute are given below:

Statute Nature of Dues Amount Rs. Period Forum where dispute is pending
Central Excise Act Excise Duty 889155 2000-2001 CESTAT
Central Excise Act Excise Duty 2965328* 2011-2012 Commissioner (Appeals)
Service Tax Service Tax & Penalty 10679603 08/10 to 06/11 CESTAT
Service Tax Service Tax & Penalty 10692932 07/11 to 02/12 CESTAT

‘Net of amount paid under protest

(viii) According to the information and explanations given to us the Company has notdefaulted in repayment of loans or borrowings to any financial institutions banksgovernment or debenture holders during the year.

(ix) The Company has not raised moneys by way of initial public offer or further publicoffer including debt instruments and term Loans. Accordingly the provisions of clause 3(ix) of the Order are not applicable.

(x) Duringthecourseofourexaminationofthebooksand records of the Company carried out inaccordance with the generally accepted auditing practices in India and according to theinformation and explanations given to us we have not come across any instance of fraud onor by the Company noticed or reported during the year nor have we been informed of suchcase by the Management.

(xi) According to the information and explanations given to us and based on ourexaminations of the records of the Company the Company has paid/provided for managerialremuneration in accordance with the requisite approvals mandated by the provisions ofSection 197 read with Schedule V to the Act.

(xii) In our opinion and according to the information and explanations given to us theCompany is not a Nidhi Company. Accordingly paragraph 3(xii) of the Order is notapplicable.

(xiii) According to the information and explanations given to us and based on ourexaminations of the records of the Company all transactions with the related parties arein compliance with section 177 and 188 of the Act where applicable and the details of suchtransactions have been disclosed in the Financial Statements as required by the applicableaccounting standards.

(xiv) According to the information and explanations given to us and based on ourexaminations of the records of the Company the Company has not made any preferentialallotment or private placement of shares or fully or partly convertible debentures duringthe year under review.

(xv) According to the information and explanations given to us and based on ourexaminations of the records of the Company the Company has not entered into any non-cashtransactions with directors or persons connected with him. Accordingly the provisions ofclause 3 (xv) of the Order are not applicable.

(xvi) In our opinion the Company is not required to be registered under section45-IAof the Reserve Bankof India Act 1934.

For P.S.SUBRAMANIA IYER & CO.
Chartered Accountants
Firm Registration No: 004104S
V.Swaminathan
Place: Chennai Partner
Date: 14.08.2017 Membership No : 22276

Annexure B to the Auditor's Report

Report on the Internal Financial Controls under Clause (I) of Subsection 3 of Section143 of the Companies Act 2013 ("the Act")

We have audited the internal financial controls over financial reporting of AmrutanjanHealthcare Limited ("the Company") as of March 31 2017 in conjunction with ouraudit of the financial statements of the Company for the year 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 ('ICAI'). 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 auditinvolves performing procedures to obtain audit evidence about the adequacy of the internalfinancial controls system over financial reporting and their operating effectiveness. Ouraudit of internal financial controls over financial reporting included obtaining anunderstanding of internal financial controls over financial reporting assessing the riskthat a material weakness exists and testing and evaluating the design and operatingeffectiveness of internal control based on the assessed risk. The procedures selecteddepend on the auditor's judgement including the

assessment of the risks of material misstatement of the financial statements whetherdue 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 systemoverfinancial 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 ofrecords that in reasonable detail accurately and fairly reflect the transactions anddispositions of the assets of the Company; (2) provide reasonable assurance thattransactions are recorded as necessary to permit preparation of financial statements inaccordance with generally accepted accounting principles and that receipts andexpenditures of the Company are being made only in accordance with authorisations ofmanagement and directors of the Company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorised acquisition use or disposition of theCompany's assets that could have a material effect on the financial statements.

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 controloverfinancial 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 2017based on theinternal control over financial reporting criteria established by the Company consideringthe essential components of internal control stated in the Guidance Note on Audit ofInternal Financial Controls Over Financial Reporting issued by the Institute of CharteredAccountants of India.

For P.S.SUBRAMANIA IYER & CO.
Chartered Accountants
Firm Registration No: 004104S
V.Swaminathan
Place: Chennai Partner
Date: 14.08.2017 Membership No : 22276