You are here » Home » Companies » Company Overview » Dutron Polymers Ltd

Dutron Polymers Ltd.

BSE: 517437 Sector: Industrials
NSE: N.A. ISIN Code: INE940C01015
BSE LIVE 14:05 | 23 Oct 135.00 -0.05
(-0.04%)
OPEN

135.00

HIGH

135.00

LOW

135.00

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 135.00
PREVIOUS CLOSE 135.05
VOLUME 1000
52-Week high 176.70
52-Week low 110.25
P/E 64.29
Mkt Cap.(Rs cr) 81
Buy Price 128.30
Buy Qty 100.00
Sell Price 141.20
Sell Qty 100.00
OPEN 135.00
CLOSE 135.05
VOLUME 1000
52-Week high 176.70
52-Week low 110.25
P/E 64.29
Mkt Cap.(Rs cr) 81
Buy Price 128.30
Buy Qty 100.00
Sell Price 141.20
Sell Qty 100.00

Dutron Polymers Ltd. (DUTRONPOLYMERS) - Auditors Report

Company auditors report

To

The Shareholders of DUTRON POLYMERS LIMITED

Report on the Financial Statements

We have audited the accompanying financial statements of DUTRON POLYMERS LIMITED (‘theCompany’) which comprise the Balance Sheet as at 31st March 2016 and the Statementof Profit and Loss the Cash Flow Statement for the year then ended and a summary ofsignificant accounting policies and other explanatory information.

Management 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 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 of 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.

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 inaccordance with the Standards on Auditing specified under Section 143(10) of the Act.Those Standards require that we comply with ethical requirements and plan and perform theaudit to obtain reasonable assurance about whether the financial statements are free frommaterial misstatement. An audit involves performing procedures to obtain audit evidenceabout the amounts and the disclosures in the financial statements. The procedures selecteddepend on the auditor’s judgment including the assessment of the risks of materialmisstatement of the financial statements whether due to fraud or error. In making thoserisk assessments the auditor considers internal financial control relevant to theCompany’s preparation of the financial statements that give a true and fair view inorder to design audit procedures that are appropriate in the circumstances. An audit alsoincludes evaluating the appropriateness of the accounting policies used and thereasonableness of the accounting estimates made by the Company’s Directors as wellas evaluating the overall presentation of the financial statements. We believe that theaudit evidence we have obtained is sufficient and appropriate to provide a basis for ouraudit 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 31stMarch 2016 for the year ended on that date.

Report on Other Legal and Regulatory Requirements

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 Companies Act 2013 we report that the said order is applicable tothe company which is annexed herewith.

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 dealt with by this Report arein 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 2016 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2016 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: (i) TheCompany does not have any pending litigations which may impact its financial position inits financial statements.

(ii) The Company did not have any long-term contracts including derivative contractsfor which 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 BAHETI BHADADA & ASSOCIATES
Chartered Accountants
B. K. BAHETI
Partner
Place: Ahmedabad Mem. No. 070818
Date: 30th May 2016 Firm Reg. No. 100865W

ANNEXURE TO INDEPENDENT AUDITORS’ REPORT

(Referred to in paragraph 3 of our Report of even date)

1. FIXED ASSESTS

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

(b) All the assests have been physically verified by the management during the year. Noserious discrepancies have been noticed on such verification.

2. INVENTORY

(a) The stocks of finished goods stores and spares have been physically verifiedduring the year by the management. In our opinion the frequency of verification isreasonable.

(b) The procedure of physical verification of stocks followed by the management isreasonable and adequate in relation to the size of the Company and the nature of itsbusiness.

(c) On the basis of our examination of stock records in our opinion the company ismaintaining proper records of stock. No material discrepancies have been noticed onphysical verification of stocks as compared to book records.

3. LOANS

(a) (i) According to information and explanations given to us the company has grantedunsecured loans payable on demand to two parties covered in the register maintained undersection 189 of the Companies Act 2013.

Particulars are as under :

No. of Parties 2
Granted During the year Rs. 148900000
Repayment Received in Year Rs. 153600000
Maximum Outstanding in Year Rs. 92660558
Closing Balance Rs. 57008755

(ii) In our opinion the terms and conditions of loans given by the company securedand unsecured Loans are prima facie not prejudicial to the interest of the company.

(b) According to information and explanations given to us the Company had taken loansfrom three parties covered in the register maintained under section 189 of the CompaniesAct 2013. Particulars are as under :

No. of Parties 3
Opening Balance Rs. 78014678
Taken or Accepted in year Rs. 5000000
Repaid During the year Rs. 16800000
Maximum Outstanding in Year Rs. 78609924
Closing Balance Rs. 72392250

(c) In our opinion the rate of interest and other terms and conditions on which loanshave been taken from the parties listed in the register maintained under section 189 ofthe Companies Act 2013 are not prima facie prejudicial to the interest of the Company.

4. In our opinion and according to the information and explanations given to us thereis adequate internal control procedures commensurate with the size of the Company and thenature of its business with regard to purchases of stores raw materials componentsplant & machinery equipments and other assets and with regard to the sale of goods.Further on the basis of our examination of the books and records of the Company andaccording to the information and explanation given to us we have neither come across norhave been informed of any failure to correct major weakness in the aforesaid internalcontrol procedures.

5. In our opinion and according to the information and explanations given to us theCompany has not accepted any deposit during the current financial year.

6. The Central Government has not prescribed for the maintenance of cost records undersub-section (1) of section 148 of the Companies Act 2013.

7. (a) The Company is regular in depositing undisputed statutory dues includingProvident Fund(PF) Employees’ State Insurance Income Tax Sales Tax Wealth TaxService Tax Duty of Customs Duty of Excise Value Added Tax Cess and any otherstatutory dues with appropriate authorities.

(b) According to the information and explanation given to us there were no undisputedamounts payable in respect of Income Tax Wealth Tax Sales Tax Customs Duty and ExciseDuty which have remained outstanding as at 31st March 2016 for a period of more than sixmonths from the date they became payable.

(c) The company is not required to transfer any amount to Investor Education andProtection Fund in accordance with provisions of Companies Act 2013 or rules made thereunder.

8. The Company has not incurred cash losses during the year. The Company has noaccumulated losses more than 50% of its net worth.

9. On the basis of the verification of records and information and explanations givento us the Company has not defaulted in repayment of dues to financial institutions orbanks.

10. The Company has not given any guarantees for loans taken by others from banks andfinancial institutions during the year.

11. Based on verification of records of the company the term loans were applied forthe purpose for which loans were obtained.

12. Based on the Audit procedure performed and the representation obtained from themanagement we report that no case of fraud on or by the Company has been noticed orreported during the year under Audit.

FOR BAHETI BHADADA & ASSOCIATES
Chartered Accountants
B. K. BAHETI
Partner
Place: Ahmedabad Mem. No. 070818
Date: 30th May 2016 Firm Reg. No. 100865W