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Chambal Breweries & Distilleries Ltd.

BSE: 512301 Sector: Others
NSE: N.A. ISIN Code: INE417N01011
BSE LIVE 15:26 | 08 Dec 9.50 -0.30
(-3.06%)
OPEN

10.90

HIGH

10.99

LOW

9.10

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 10.90
PREVIOUS CLOSE 9.80
VOLUME 19939
52-Week high 19.40
52-Week low 5.65
P/E 316.67
Mkt Cap.(Rs cr) 7.12
Buy Price 9.40
Buy Qty 5.00
Sell Price 9.50
Sell Qty 293.00
OPEN 10.90
CLOSE 9.80
VOLUME 19939
52-Week high 19.40
52-Week low 5.65
P/E 316.67
Mkt Cap.(Rs cr) 7.12
Buy Price 9.40
Buy Qty 5.00
Sell Price 9.50
Sell Qty 293.00

Chambal Breweries & Distilleries Ltd. (CHAMBALBREWER) - Auditors Report

Company auditors report

To

The Members of CHAMBAL BREWERIES & DISTILLERIES LIMITED

Report on the Financial Statements

We have audited the accompanying financial statements of M/s. CHAMBAL BREWERIES& DISTILLERIES LIMITED (the "company") which comprise the Balance Sheetas at March 31 2015 the Statement of Profit and Loss and Cash Flow Statement for theyear then ended and a summary of significant accounting policies and other explanatoryinformation.

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 Act") with respect to the preparationand presentation of these financial statements that give a true and fair view of thefinancial position financial performance and cash flows of the Company in accordance withthe accounting 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 materialmisstatementwhether due to fraud or error..

Auditors' 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 andthe disclosures in the financial statements. The procedures selected depend on theauditor's judgment including the assessment of the risks of material misstatement of thefinancial statements whether due to fraud or error. In making those risk assessments theauditor considers 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 the accounting policies used and thereasonableness of the accounting estimates made by the Company's Directors as well asevaluating 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 our 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.

(a) In case of Balance Sheet of the state of affairs of the Company as at 31stMarch 2015.

(b) In the case of the Statement of Profit and Loss of the Profit of the company forthe year ended 31st March 2015.

(c) In the case of the Cash Flow Statement of the cash flow for the year ended on thatdate.

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 section 143 ofthe Act we give in the Annexure a statement on the matters specified in the paragraph 3and 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 informationand explanations which to the bestof our knowledge andbelief 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 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 the written representations received from the directors as on 31March 2015 taken on record by the Board of Directors none of the directors isdisqualified as on 31 March 2015 from being appointed as a director in terms of Section164 (2) of the Act; and

(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:

i. the Company does not have any pending litigation which would impact its financialposition.

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 amount to be transferred to the Investor Education andProtection Fund by the Company.

For VAG & COMPANY
CHARTERED ACCOUNTANTS
PLACE : KOTA (Registration No. 003014C)
DATED:30/05/2015 CA ARPIT JAIN
(PARTNER)
Membership No. 409781

Annexure to the Auditors report of the even date to the members:

The Annexure referred to in our Independent Auditors' Report to the members of theCompany on the financial statements for the year ended 31 March 2015 we report that:

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

(b) The Company has a regular programme of physical verification of its fixed assets bywhich fixed assets are verified in a phased manner over a period of three years. Inaccordance with this programme certain fixed assets were verified during the year and nomaterial discrepancies were noticed on such verification. In our opinion this periodicityof physical verification is reasonable having regard to the size of the Company and thenature of its assets.

ii (a) The physical verification of inventory has been conducted at reasonableintervals by the management.

(b) In our opinion and according to the information and explanation given to us theprocedure of physical verification of inventory followed by the management were foundreasonable and adequate in relation to the size of the company and the nature of itsbusiness.

(c) In our opinion the company has maintained proper records of the inventory. Thediscrepancies between physical stock and the book stock were not material and haveproperly dealt with in books of accounts.

(iii) (a) The Company has granted loans to two parties covered in the registermaintained under section 189 of the Companies Act 2013 ('the Act').

(b) In the case of the loans granted to the related party listed in the registermaintained under section 189 of the Act the borrowers have been regular in the payment ofthe interest as stipulated. The terms of arrangements do not stipulate any repaymentschedule and the loans are repayable on demand. Accordingly paragraph 3(iii)(b) of theOrder is not applicable to the Company in respect of repayment of the principal amount.

(c) There are no overdue amounts of more than rupees one lakh in respect of the loansgranted to the bodies corporate listed in the register maintained under section189 of theAct.

(iv) In our opinion and according to the information and explanations given to usthere is an adequate internal control system commensurate with the size of the Company andthe nature of its business with regard to purchase of fixed assets and sale of goods.. Wehave not observed any major weakness in the internal control system during the course ofthe audit.

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

(vi) The Central Government has not prescribed the maintenance of cost records undersection 148(1) of the Act for any of the activities done by the Company.

(vii) (a) According to the information and explanations given to us and on the basis ofour examination of the records of the Company amounts deducted/ accrued in the books ofaccount in respect of undisputed statutory dues including provident fund income taxsales tax wealth tax service tax duty of customs value added tax cess and othermaterial statutory dues have been regularly deposited during the year by the Company withthe appropriate authorities. As explained to us the Company did not have any dues onaccount of employees' state insurance and duty of excise.

According to the information and explanations given to us no undisputed amountspayable in respect of provident fund income tax sales tax wealth tax service tax dutyof customs value added tax cess and other material statutory dues were in arrears as at31 March 2015 for a period of more than six months from the date they became payable.

(b) According to the information and explanations given to us there are no materialdues of wealth tax duty of customs and cess which have not been deposited with theappropriate authorities on account of any dispute.

(c) According to the information and explanations given to us there were no amountswhich were required to be transferred to the investor education and protection fund inaccordance with the relevant provisions of the Companies Act.

(viii) The Company have accumulated losses of Rs. 2690696/- at the end of the financialyear and has not incurred cash losses in the financial year and in the immediatelypreceding financial year.

(ix) The Company did not have any outstanding dues to financial institutions banks ordebenture holders during the year.

(x) In our opinion and according to the information and the explanations given to usthe Company has not given any guarantee for loans taken by others from banks or financialinstitutions.

(xi) The Company did not have any term loans outstanding during the year.

(xii) According to the information and explanations given to us no material fraud onor by the Company has been noticed or reported during the course of our audit.

For VAG & COMPANY
CHARTERED ACCOUNTANTS
PLACE : KOTA (Registration No. 003014C)
DATED:30/05/2015 CA ARPIT JAIN
(PARTNER)
Membership No. 409781

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