You are here » Home » Companies » Company Overview » Camphor & Allied Products Ltd

Camphor & Allied Products Ltd.

BSE: 500078 Sector: Industrials
NSE: CAMPALLIED ISIN Code: INE959C01015
BSE LIVE 15:40 | 09 Dec 694.40 5.90
(0.86%)
OPEN

705.00

HIGH

710.00

LOW

690.00

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 705.00
PREVIOUS CLOSE 688.50
VOLUME 296
52-Week high 794.70
52-Week low 376.00
P/E 15.05
Mkt Cap.(Rs cr) 356.23
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 705.00
CLOSE 688.50
VOLUME 296
52-Week high 794.70
52-Week low 376.00
P/E 15.05
Mkt Cap.(Rs cr) 356.23
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Camphor & Allied Products Ltd. (CAMPALLIED) - Auditors Report

Company auditors report

To

The Members of

Camphor & Allied Products Limited

Report on the Standalone Financial Statements:

We have audited the accompanying financial standalone statements of Camphor &Allied Products Limited ("the Company") which comprise the Balance Sheet asat 31st March 2015 the Statement of Profit and Loss Cash Flow Statement forthe year then ended and a summary of the significant accounting policies and otherexplanatory information.

Management’s Responsibility for the Standalone Financial Statements:

The Company’s Board of Directors is responsible for the matters stated in Section134(5) of the Companies Act 2013 ("the Act") with respect to the preparation ofthese standalone financial statements that give a true and fair view of the financialposition financial performance and cash flows of the Company in accordance with theaccounting principles generally accepted in India including the Accounting Standardsspecified under Section 133 of the Act read with Rule 7 of the Companies (Accounts)Rules 2014. This responsibility also includes maintenance of adequate accounting recordsin accordance with the provisions of the Act for safeguarding the assets of the Companyand for preventing and detecting frauds and other irregularities; selection andapplication of appropriate accounting policies; making judgments and estimates that arereasonable and prudent; and design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe financial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

Auditors’ Responsibility:

Our responsibility is to express an opinion on these standalone financial statementsbased on our audit.

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 andthe disclosures in the financial statements. The procedures selected depend on theauditor’s judgment including the assessment of the risks of material misstatement ofthe financial statements whether due to fraud or error. In making those risk assessmentsthe auditor considers internal financial control relevant to the Company’spreparation of the financial statements that give a true and fair view in order to designaudit procedures that are appropriate in the circumstances but not for the purpose ofexpressing an opinion on whether the Company has in place an adequate internal financialcontrols system over financial reporting and the operating effectiveness of such controls.An audit also includes evaluating the appropriateness of the accounting policies used andthe reasonableness of the accounting estimates made by the Company’s Directors aswell 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 standalone financial statements.

Opinion:

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone financial statements give the information requiredby the Act in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India of the state of affairs of the Companyas at 31st March 2015 and its profit and its cash flows for the year ended onthat date.

Report on Other Legal and Regulatory Requirements:

1. As required by the Companies (Auditor’s Report) Order 2015 ("theOrder") issued by the Central Government of India in terms of sub-section (11) ofsection 143 of the Act we give in the Annexure a statement on the matters specified inparagraphs 3 and 4 of the Order.

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 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 the Cash Flow Statementdealt with by this Report are in agreement with the books of account.

d) In our opinion the aforesaid standalone financial statements comply with theAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014.

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

f) 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 explanations given to us:

a) The Company has disclosed the impact of pending litigations on its financialposition in the aforesaid financial statements – Refer Note 27(a) to the financialstatements;

b) The Company has made provision as required under the applicable law or accountingstandards for material foreseeable losses if any on long-term contracts includingderivative contracts – Refer Note 27(b)(ii) to the financial statements.

c) There has been no delay in transferring amounts required to be transferred to theInvestor Education and Protection Fund by the Company.

For LODHA & COMPANY
CHARTERED ACCOUNTANTS
Firm Registration No: 301051E
A.M. Hariharan
Place: Mumbai PARTNER
Date : 28th May 2015 Membership No: 38323

ANNEXURE REFERRED TO IN PARAGRAPH 1 UNDER THE HEADING "REPORT ON OTHER LEGAL ANDREGULATORY REQUIREMENTS" OF OUR REPORT OF EVEN DATE TO THE MEMBERS OF THE CAMPHOR& ALLIED PRODUCTS LIMITED ON STANDALONE FINANCIAL STATEMENTS

On the basis of such checks as we considered appropriate and according to theinformation and explanations given to us during the course of our audit we state that:

1. a) The Company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets.

b) As explained the assets have been physically verified by the management inaccordance with the phased programme designed to cover all the assets over two years. Inour opinion the frequency of verification is reasonable considering the size of theCompany and nature of its fixed assets. As informed no major discrepancies were noticedon such verification.

2. a) The inventory has been physically verified by the management at reasonableintervals during the year.

Inventory-in-transit has been verified by the management with reference to the relevantdocuments.

b) The procedures for 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 is maintaining proper records of inventory. The discrepancies noticed onverification between the physical stocks and book records were not material consideringthe operations of the Company and have been properly dealt with in the books of account.

3. During the year the Company has not granted any loans secured or unsecured to/from companies firms or other parties covered in the register maintained under Section189 of the Act.

4. In our opinion and according to the information and explanations given to us havingregard to the explanations that some of the items purchased and sold are of the specialnature and suitable alternative source does not exist for obtaining comparable quotationsthere are adequate internal control systems commensurate with the size of the Company andnature of its business for purchase of inventory fixed assets and with regard to the saleof goods and services. During the course of our audit no major weakness has been noticedin the internal controls systems.

5. No deposits within the meaning of directives issued by RBI (Reserve Bank of India)and Sections 73 to 76 or any other relevant provisions of the Act and rules framed thereunder have been accepted by the Company.

6. On the basis of records produced we are of the opinion that prima facie the costrecords and accounts prescribed by the Central Government under Section 148 (1) of the Acthave been maintained. However we are not required to and thus have not carried out anydetailed examination of such accounts and records with a view to ascertain whether theseare accurate and complete.

7. a) The Company is generally regular in depositing undisputed statutory duesincluding Provident Fund Employees’ State Insurance Income Tax Sales Tax WealthTax Service Tax Duty of Customs Duty of Excise Cess and other material statutory duesapplicable to the Company with the appropriate authorities.

No undisputed amounts payable in respect of the aforesaid statutory dues wereoutstanding as at the last day of the financial year for a period of more than six monthsfrom the date they became payable.

b) According to the records of the Company there are no dues of Income Tax Sales TaxWealth Tax Service tax Duty of Customs Duty of Excise Cess which have not beendeposited on account of any dispute except the following:

Particulars Year to which the amount relates Forum where the dispute is pending Rs. in Lacs
Sales Tax 2000-01 Supreme Court Delhi 12.75
Sales Tax 2004-05 to 2006-07 Commercial Tax Tribunal Bareilly 37.62
Income Tax A.Y 2009-10 and 2010-11 CIT (Appeal) Baroda 25.92

c) There has been no delay in transferring amounts required to be transferred to theInvestor Education and Protection Fund by the Company.

8. The Company has no accumulated losses as at 31st March 2015 and it hasnot incurred any cash losses in the financial year ended on that date and in theimmediately preceding financial year.

9. In our opinion and according to the information and explanations given to us theCompany has not defaulted in repayment of dues to banks and financial institutions.

10. According to the information and explanations given to us the Company has notgiven any guarantee for loans taken by others from banks and financial institutions.

11. Based on the information and explanations given to us by the management term loanswere applied for the purpose for which the loans were obtained.

12. During the course of our examination of the books and records of the Companycarried out in accordance with the generally accepted auditing standards in India andaccording to the information and explanations given to us we have neither come across anyinstance of fraud on or by the Company noticed or reported during the year nor have webeen informed of such case by the management.

For LODHA & COMPANY
CHARTERED ACCOUNTANTS
Firm Registration No: 301051E
A.M. Hariharan
Place: Mumbai PARTNER
Date : 28th May 2015 Membership No: 38323

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