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Brooks Laboratories Ltd.

BSE: 533543 Sector: Health care
NSE: BROOKS ISIN Code: INE650L01011
BSE LIVE 10:22 | 05 Dec 142.65 0.95
(0.67%)
OPEN

144.00

HIGH

144.90

LOW

142.65

NSE LIVE 10:26 | 05 Dec 143.15 1.20
(0.85%)
OPEN

142.05

HIGH

145.50

LOW

142.05

OPEN 144.00
PREVIOUS CLOSE 141.70
VOLUME 3275
52-Week high 194.40
52-Week low 68.75
P/E 23.93
Mkt Cap.(Rs cr) 230.95
Buy Price 142.70
Buy Qty 20.00
Sell Price 143.65
Sell Qty 144.00
OPEN 144.00
CLOSE 141.70
VOLUME 3275
52-Week high 194.40
52-Week low 68.75
P/E 23.93
Mkt Cap.(Rs cr) 230.95
Buy Price 142.70
Buy Qty 20.00
Sell Price 143.65
Sell Qty 144.00

Brooks Laboratories Ltd. (BROOKS) - Auditors Report

Company auditors report

To the Members of Brooks Laboratories Limited

Report on the Financial Statements

We have audited the accompanying Financial Statements of Brooks Laboratories Limited("the Company") which comprise the Balance Sheet as at March 31 2015 theStatement of Profit and Loss and Cash Flow Statement for the year then ended and asummary of significant accounting policies and other explanatory information.Management’s Responsibility for the Financial Statements

The Company's Board of Directors are responsible for the matters stated in Section134(5) of the Companies Act 2013 (Rs.the ActRs.) 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 Rule 7 of Companies (Accounts) Rules 2014. This responsibilityincludes maintenance of adequate accounting records in accordance with the provisions ofthe Act for safeguarding the assets of the Company and for preventing and detecting fraudsand other irregularities; selection and application of appropriate accounting policies;making judgments and estimates that are reasonable and prudent; and design implementationand maintenance of adequate internal financial controls that are operating effectivelyfor ensuring the accuracy and completeness of the accounting records relevant to thepreparation and presentation of the financial statements that give a true and fair viewand are free from material misstatement whether due 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 a 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 the operating effectiveness of such controls. An audit alsoincludes evaluating the appropriateness of accounting policies used and the reasonablenessof the accounting estimates made by the Company's Directors as well as evaluating theoverall 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 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 at 31stMarch 2015 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 2015 ("the Order")issued by the Central Government of India in terms of sub-section (11) of section143 ofthe Act we give in the Annexure a statement on the matters Specified in paragraphs 3 and4 of the Order.

2. As required by section 143(3) of the Act we further 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 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 aforesaid Financial Statements comply with the applicableAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014

e) On the basis of written representations received from the directors as on March 312015 and taken on record by the Board of Directors none of the directors aredisqualified as on March 31 2015 from being appointed as a director in terms of Section164(2) of the Act.

f) With respect to other matters to be included in the Auditor's Report in accordancewith Rule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinion and to thebest of our information and according to the explanations given to us:

i. The Company has disclosed the impact of pending litigations on its financialposition in its Financial Statements. (Refer Note no. 28 of Financial Statements)

ii. The Company did not have any long-term contracts including derivative contracts forwhich 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.

For S G C O & Co.
Chartered Accountants
Firm Reg No. 112081W
Suresh Murarka
Partner
Mem No : 44739
Place : Mumbai
Date : 29th May 2015

Annexure to Auditors Report

Annexure referred to in Paragraph 1 of "Report on Other Legal and RegulatoryRequirements" of our Report of even date on the accounts of Brooks LaboratoriesLimited for the year ended 31st March 2015.

As required by the Companies (Auditors Report) Order 2015 and according to theinformation and explanations given to us during the course of the audit and on the basisof such checks of the books and records as were considered appropriate we report that:

(i) a) The company has maintained proper records showing full particulars includingquantitative details and situation of its fixed assets.

b) As explained to us all the fixed assets have been physically verified by themanagement in accordance with a phased programme of verification which in our opinion isreasonable considering the size and the nature of its assets. In pursuance to theprogramme certain fixed assets have been physically verified by the Company during theyear. The frequency of verification is reasonable and no discrepancies have been noticedon such physical verification.

(ii) a) The inventories have been physically verified during the year by the managementat the year end.

b) The procedures of physical verification of the inventories followed by themanagement are reasonable and adequate in relation to the size of the Company and thenature of its business.

c) The Company has maintained proper records of its inventories. No materialdiscrepancies were noticed on physical verification as compared to book records.

(iii) a) During the year the Company has not granted any secured or unsecured loan toany party covered in the registered maintained under section 189 of the Companies Act2013. b) In view of our comments in para (iii) (a) above clauses 3 (iii) (a) and (b) ofthe said Order are not applicable to the Company.

(iv) In our opinion and according to the information and explanation given to us thereis an adequate internal control system commensurate with the size of the Company and thenature of its business with regard to purchase of inventories fixed assets and for thesale of goods and services. During the course of our audit we have not observed anycontinuing failure to correct major weaknesses in internal control system.

(v) The Company has not accepted any deposits from the public.

(vi) As per explanation & information given to us the Company has maintainedproper cost records pursuant to the rules prescribed by the Central Government for themaintenance of cost records under section 148 (1) of the Companies Act 2013. However thesame have not been reviewed by us.

(vii) a. Accordingly to the records of the Company the undisputed statutory duesincluding Provident Fund Income tax Sales tax Wealth tax Service tax Duty of CustomsDuty of Excise Value Added Tax and Cess to the extent applicable to the Company havebeen regularly deposited with the appropriate authorities. According to the informationand explanations given to us there are no undisputed amount payable in respect of suchstatutory dues which have remained outstanding as at 31st March 2015 for a period morethan six months from the date they became payable.

b. According to the information and explanations given to us disputed dues of IncomeTax Sales Tax Wealth Tax Service Tax duty of Custom duty of Excise Value Added Taxand Cess which have not been deposited on account of disputes with the related authoritiesare as under.

Nature of Liability Amount (Rs. in lacs) Period to which matter pertains Forum at which dispute is pending
Income Tax 1400.72 A.Y. 2012-13 Commissioner of Income Tax (Mohali)

c. There is no amount which is required to be transferred to Investor Education andProtection Fund by the Company in accordance with the relevant provisions of the CompaniesAct 1956 (1 of 1956) and rules made thereunder.

(viii)The Company has no accumulated losses at the end of the financial year and it hasnot incurred any cash losses during the financial year and in the immediately precedingfinancial year.

(ix) In our opinion and according to the information and explanation given to us theCompany has not defaulted in repayment of its dues to banks. The Company did not have anyoutstanding dues to any financial institution & debenture holders during the year.

(x) The Company has not given any guarantee for loans taken by others from banks andfinancial institutions.

(xi) The Company has not obtained any term loan during the year.

(xii) During the course of our examination of the books and records of the Companycarried out in accordance with the generally accepted auditing practices in India andaccording to the information and explanations given to us we have neither come across anyinstance of any fraud on or by the Company noticed or reported during the year nor havewe been informed of such case by the Management.

For S G C O & Co.
Chartered Accountants
Firm Reg No. 112081W
Suresh Murarka
Partner
Mem No : 44739
Place : Mumbai
Date : 29th May 2015

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