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Dhampure Speciality Sugars Ltd.

BSE: 531923 Sector: Agri and agri inputs
NSE: N.A. ISIN Code: INE956B01013
BSE LIVE 15:40 | 22 Sep 15.35 -0.65
(-4.06%)
OPEN

17.85

HIGH

17.85

LOW

15.30

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 17.85
PREVIOUS CLOSE 16.00
VOLUME 15107
52-Week high 23.80
52-Week low 14.25
P/E 191.88
Mkt Cap.(Rs cr) 11
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 17.85
CLOSE 16.00
VOLUME 15107
52-Week high 23.80
52-Week low 14.25
P/E 191.88
Mkt Cap.(Rs cr) 11
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Dhampure Speciality Sugars Ltd. (DHAMPURSPLSUG) - Auditors Report

Company auditors report

To

The Members of

Dhampure Speciality Sugars Limited

Report on the Standalone Financial Statements

We have audited the accompanying standalone financial statements of DhampureSpeciality Sugars Limited which comprise the Balance Sheet as at March 31 2016 andthe Statement of Profit and Loss and Cash Flow Statement for the year ended and a summaryof significant accounting policies and other explanatory 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 preparationand presentation of these standalone financial statements that give a true and fair viewof the financial position financial performance and cash flows of the Company inaccordance with the accounting principles generally accepted in India including theAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014. This responsibility also includes maintenance ofadequate accounting records in accordance with the provisions of the Act for safeguardingof the assets of the Company and for preventing and detecting frauds and otherirregularities; selection and application of appropriate accounting policies; makingjudgments and estimates that are reasonable and prudent; and design implementation andmaintenance of adequate internal financial controls that were operating effectively forensuring 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 standalone financial statementsbased on our audit. We have taken into account the provisions of the Act the accountingand auditing standards and matters which are required to be included in the audit reportunder the provisions of the Act and the Rules made there under.

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 control relevant to the Company's preparation and fair presentation ofthe financial statements in order to design audit procedures that are appropriate in thecircumstances. An audit also includes evaluating the appropriateness of accountingpolicies used and the reasonableness of the accounting estimates made by management 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.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the 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:

(a) in the case of the Balance Sheet of the state of affairs of the Company as atMarch 31 2016;and

(b) in the case of the statement of Profit and Loss of the profit of the Company forthe year ended on that date; and

(c) in the case of the Cash Flow Statement of the 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 2016 ("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 a statement on the matters specified in the paragraph3 and 4 of the order.

2. As required by section 143 (3) of the Act we report that:

a. we have obtained all the information and explanations which to the best of ourknowledge 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 and Statement of Profit and Loss and the Cash Flow Statement dealtwith by this Report are in agreement with the books of account;

d. in our opinion the Balance Sheet and Statement of Profit and Loss and the Cash FlowStatement comply with the Accounting Standards referred to in sub- section (3C) of section211 of the Act read with the General Circular No. 15/2013 dated 13th September 2013 ofthe Ministry of Corporate Affairs in respect of Section 133 of the Companies Act 2013.

e. on the basis of written representations received from the directors as on March 312016 and taken on record by the Board of Directors none of the directors is disqualifiedas on March 31 2016 from being appointed as a director in terms of Section 164 (2) ofthe 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:

i) There were no pending litigations which would impact the financial position of theCompany;

ii) The Company did not have any material foreseeable losses on long-term contractsincluding derivative contracts;

iii) There were no amounts which were required to be transferred to the InvestorEducation and Protection Fund by the Company..

For S. Prasad Agarwal & Co.
Chartered Accountants
Firm Regn.No. 021425N
Place : New Delhi (S.P. Agarwal)
Date : 29.05.2016 Proprietor
M.No. : F 092194

ANNEXURE TO THE AUDITOR'S REPORT

(As referred to in Paragraph 1 of our report of even date)

The Annexure referred to in Independent Auditor's Report to the members of the Companyon the standalone financial statements for the year ended 31st March 2016 we report that:

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

(b) As explained to us most of the fixed assets of the company have been physicallyverified by the management during the year and no material discrepancies between the bookrecords and the physical inventory have been noticed. In our opinion the frequency ofverification is reasonable having regard to the size of the Company and the nature of itsassets.

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

(ii) (a) As explained to us the inventory has been physically verified at reasonableintervals by the management.

b) In our opinion the procedures of physical verification of inventory followed by themanagement are reasonable and adequate in relation to the size of the company and thenature of its business.

(c) On the basis of our examination of the inventory records in our opinion thecompany is maintaining proper records of inventory. The discrepancies noticed on physicalverification of inventory as compared to book records were not material.

(iii) According to the information and explanations given to us the Company has notgranted any loans secured or unsecured to Companies firms or other parties covered byclause (76) of Section 2 and in the registered maintained under section 189 of theCompanies Act 2013.

(iv) In our opinion and according to the information and explanations given to us theCompany has complied with the provisions of section 185 and 186 of the Act with respectto the loans and investments made.

(v) As informed to us during the year the company has not accepted any deposits fromthe public within the meaning of directive issued by the Reserve Bank of India and theProvisions of section 73 to 76 or any other relevant provisions of the Companies Act 2013and the rules framed there under.

(vi) The Central Government of India has not prescribed the maintenance of Cost recordsunder sub section (1) of section 148 of the Companies Act 2013 for any of the products ofthe company.

(vii) (a) According to the information and explanations given to us and the records ofthe company examined by us in our opinion the company is generally regular in depositingthe undisputed statutory dues including provident fund investor education and protectionfund employees' state insurance income-tax sales-tax wealth tax service tax customsduty excise duty value added tax cess and other material statutory dues as applicablewith the appropriate authorities.

(b) According to the information and explanations given to us and the records of thecompany examined by us there are no disputes and dues with Income Tax Sales Tax WealthTax Service Tax Custom Duty Excise Duty value added tax cess and any other statutorydues which have remained outstanding as at 31.03.2016 for a period of more than six monthsfrom the date they became payable however an income tax demand i.e. assessed U/s 143(3)for the Assessment Year 2009-10 of Rs. 75967/- and for the Assessment Year 2010-11 of Rs.47750/- are yet to deposit or to be adjust with the Income Tax Refund receivable from theIncome Tax Department and a demand of Central Excise Duty of Rs. 5405245/-(Includinginterest of Rs. 1522721/- and penalty of Rs. 164269/-) for the period from F.Y.2007-08 to 2014-15 The matter is pending with the Customs Excise & Service TaxAppellate Tribunal New Delhi.

(viii) According to the records of the company examined by us and the information andexplanations given to us the company has not defaulted in payment of dues to anyfinancial institution or bank or debenture holders as at the balance sheet date.

(ix) The company did not raise any money by way of initial public offer or furtherpublic offer (including debt instruments) and term loan during the year however thecompany has taken a cash credit limit of Rs. 40000000/- from schedule bank which issecured by hypothecation of stock and debtors.

(x) According to the information and explanations given to us no material fraud by theCompany or on the Company by its officers or employees has been noticed or reported duringthe course of our audit.

(xi) According to the information and explanations give to us and based on ourexamination 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 ourexamination of the records of the Company transactions with the related parties are incompliance with sections 177 and 188 of the Act where applicable and details of suchtransactions have been disclosed in the financial statements as required by the applicableaccounting standards.

(xiv) According to the information and explanations give to us and based on ourexamination 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.

(xv) According to the information and explanations given to us and based on ourexamination of the records of the Company the Company has not entered into non-cashtransactions with directors or persons connected with him. Accordingly paragraph 3(xv) ofthe Order is not applicable.

For S. Prasad Agarwal & Co.
Chartered Accountants
Firm Regn.No. 021425N
Place : New Delhi (S.P. Agarwal)
Date : 29.05.2016 Proprietor
M.No. : F 092194