You are here » Home » Companies » Company Overview » Bhagwandas Metals Ltd

Bhagwandas Metals Ltd.

BSE: 530095 Sector: Metals & Mining
NSE: N.A. ISIN Code: INE656B01019
BSE LIVE 15:15 | 09 Dec 7.77 -0.40
(-4.90%)
OPEN

7.77

HIGH

7.77

LOW

7.77

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 7.77
PREVIOUS CLOSE 8.17
VOLUME 711
52-Week high 10.98
52-Week low 5.73
P/E 25.90
Mkt Cap.(Rs cr) 2.84
Buy Price 7.77
Buy Qty 1789.00
Sell Price 0.00
Sell Qty 0.00
OPEN 7.77
CLOSE 8.17
VOLUME 711
52-Week high 10.98
52-Week low 5.73
P/E 25.90
Mkt Cap.(Rs cr) 2.84
Buy Price 7.77
Buy Qty 1789.00
Sell Price 0.00
Sell Qty 0.00

Bhagwandas Metals Ltd. (BHAGWANDASMETAL) - Auditors Report

Company auditors report

BHAGWANDAS METALS LIMITED ANNUAL REPORT 2011-2012 AUDITORS' REPORT To the Shareholders of BHAGWANDAS METALS LIMITED, Chennai. 1. We have audited the attached Balance Sheet of BHAGWANDAS METALS LIMITED, as at 31st March, 2012 and also the Profit and Loss Account for the year ended on that date annexed thereto and the cash flow statement for the year ended on that date. 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 have 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. 3. As required by the Companies (Auditor's Report) Order, 2003 as amended by the Companies (Auditor's Report) (Amendment) Order, 2004, issued by the 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 matter 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 that: a. We have obtained all the information and 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 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, Profit and Loss Account and Cash Flow statement dealt with by this report are in agreement with the books of account; d. In our opinion, the Balance Sheet, the Profit and Loss Account and the cash flow statement dealt with by this report comply with the Accounting Standards referred to in sub-section (3C) of Section 211 of the Companies Act, 1956; e. On the basis of the written representation 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 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 financial statements together with the notes thereon, give the in formation 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; and ii. In the case of Profit & Loss Account, of the profit of the Company for the year ended on that date. iii. In the case of cash flow statement, of the cash flow for the year ended on that date. For R.R. MORE & Co. Chartered Accountants Place: Chennai C.A. RAJA RAM MORE Date : 27.07.2012 Proprietor Membership No. 21233 FR. N0.2133S ANNEXURE TO THE AUDITOR'S REPORT (Referred to in Paragraph (3) of our report of even date) In terms of the information and explanations given to us and books and records examined by us in normal course of audit and to the best of our information and belief, we state that: 1)a. The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets. b. The fixed assets were physically verified during the year and no discrepancies were noticed during such verification. c. The Company has not sold substantial portion of Fixed Assets during the year. 2)a. The management has conducted physical verification of inventory at reasonable intervals. b. The procedures of physical verification of stocks followed by the management are reasonable and adequate in relation to the size of the Company and the nature of its business. c. On the basis of our examination of records of inventory, in our opinion, the Company has maintained proper records of inventory and the discrepancies noticed on physical verification between physical stock and the book records were not material in relation to the operations of the Company. 3) The Company has neither granted nor taken any loans secured or unsecured, from Companies, firms, or other parties listed in the Register maintained under Section 301 of the Companies Act, 1956. As the Company has not granted/ taken any loans, secured or unsecured, to / from parties listed in the registers maintained under Section 301 of the Companies Act, 1956 paragraphs iii (b) (c) (d) (e) & (f) of the Order, are not applicable. 4) In our opinion and according to the information and explanation given to us, there are adequate internal control procedures 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. Further, on the basis of our examination and according to the information and explanations given to us, we have neither come across nor have we been informed of any instance of major weaknesses in the aforesaid internal control procedures. 5)a. According to the information and explanations given to us we are of the opinion that the transactions that need to be entered into the register maintained under Sections 301 of the Companies Act, 1956 have been so entered. b. In our opinion and according to the information and explanations given to us, the transactions in pursuance of contracts or agreements entered into the register maintained under section 301 of the act have been made at prices which are generally reasonable considering the strategic relationship and having regard to the prevailing market prices at the relevant time. 6) The Company has not accepted any deposits under the provisions of Section 58A and 58AAofthe Companies Act, 1956 and the rules framed thereunder. 7) The internal audit for the Company has been carried out during the year and the system and procedures adopted by the Company is adequate commensurate with the size and nature of the Company. 8) To the best of our knowledge, the Central Government has not prescribed the maintenance of cost records under Section 209 (1) (d) of the Companies Act 1956 for the products of the Company. 9) a. According to the information and explanations given to us and according to the books and records as produced and examined by us, in our opinion, the Company is regular in depositing undisputed statutory dues including Provident fund, investor education and protection fund, employees state insurance, Income Tax, Sales Tax, Wealth tax, Service Tax, Customs duty, Excise duty, Cess and other material statutory dues as applicable with the appropriate authorities. b. As at 31st March 2012 according to the records of the Company and information and explanations given to us, there is no undisputed dues on account of Sales Tax, Income Tax, Excise Duty, Wealth Tax, Service Tax, Customs duty and Cess which is outstanding for a period of more than 6 months from the date they became applicable. 10) Based of our audit procedures and information and explanations given by the management the Company has not defaulted in repayment of dues to any financial institutions or Bank. 11) According to the information and explanations given to us and based on the documents and records produced 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. 12) 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) (Amendment) Order, 2004 are not applicable to the Company. 13) In our opinion the company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly to the provisions of clause 4 (xiv) of the Companies (Auditors Report) (Amendment) Order, 2004 are not applicable to the Company. 14) According to the information and explanations given to us, the Company has not given any guarantee for loans taken by others from bank or financial institutions. 15) According to the information and explanations given to us, the loans have been applied for the purpose for which they were obtained. 16) According to the information and explanations given to us, and on an overall examinations of the Balance Sheet and Cash Flow Statement of the Company, we report that no funds raised on short term basis have been used for long term investment. 17) The Company has not made any preferential allotment of shares to parties or Companies covered in the register maintained under section 301 of the Companies Act, 1956. 18) The Company has not issued any debentures during the year. 19) The Company has not raised any money through a public issue during the year. 20) Based upon the audit procedures performed and information and explanations given by the management, we report that no fraud on or by the Company has been noticed or reported that during the course of our audit. For R.R. MORE & Co. Chartered Accountants Place: Chennai C.A. RAJA RAM MORE Date : 27.07.2012 Proprietor Membership No. 21233 FR. N0.2133S

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard