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Emmessar Biotech & Nutrition Ltd.

BSE: 524768 Sector: Industrials
NSE: N.A. ISIN Code: INE634B01016
BSE LIVE 13:48 | 24 Nov 29.10 0
(0.00%)
OPEN

30.30

HIGH

30.30

LOW

29.10

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 30.30
PREVIOUS CLOSE 29.10
VOLUME 186
52-Week high 36.35
52-Week low 16.20
P/E 12.02
Mkt Cap.(Rs cr) 15
Buy Price 29.10
Buy Qty 439.00
Sell Price 30.30
Sell Qty 475.00
OPEN 30.30
CLOSE 29.10
VOLUME 186
52-Week high 36.35
52-Week low 16.20
P/E 12.02
Mkt Cap.(Rs cr) 15
Buy Price 29.10
Buy Qty 439.00
Sell Price 30.30
Sell Qty 475.00

Emmessar Biotech & Nutrition Ltd. (EMMESSARBIOTECH) - Auditors Report

Company auditors report

To the Members

Emmessar Biotech & Nutrition Limited

Report on the Standalone Financial Statements

We have audited the accompanying standalone financial statements of Emmessar Biotech& Nutrition Limited ("the Company") which comprises the Balance Sheet as at31st March 2017 the Statement of Profit and Loss the Cash Flow Statement for the yearthen ended and a summary of significant accounting policies and other explanatoryinformation.

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 fl ows of the Company in accordance with theaccounting principles generally accepted in India including 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 Companypreventing and detecting frauds and other irregularities; selection and application ofappropriate accounting policies; making judgements and estimates that are reasonable andprudent; and design implementation and maintenance of adequate internal financialcontrols that were operating effectively for ensuring the accuracy and completeness ofthe accounting records relevant to the preparation and presentation of the financialstatements that give a true and fair view and are free from material misstatement whetherdue 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 judgement 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 in orderto 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 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 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 2017 and its profit and its cash fl ows for the year ended on thatdate.

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 Annexure 1 a statement on the matters specified in paragraph 3 and 4of the Order to the extent applicable.

2. Further to our comments in Annexure 1 as required by Section 143(3) of the Act wereport 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 2017 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2017 from being appointed as a director in terms of Section164 (2) of the Act.

(f) With respect to the adequacy of the internal financial controls over financialreporting of the company and the operating effectiveness of such controls refer to ourseparate report in ‘ Annexure 2' and

(g) 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 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.

iv. The Company has provided requisite disclosures in the financial statements as toholding as well as dealing in Specified Bank Notes during the period from 8th November2016 to 30th December 2016. Based on audit procedures and relying on the managementrepresentation we report that the disclosures are in accordance with the books of accountmaintained by the Company and as produced to us by the Management – (Refer Note No.2.14(a) of Financial Statements)

For V. Sankar Aiyar & Co
Chartered Accountants
Firm Reg No: 109208W
V. Mohan
Partner
Membership No. 17748
Place: Mumbai
Date : 24th May 2017

ANNEXURE 1 TO THE INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EMMESSAR BIOTECH &NUTRITION LIMITED ON STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31STMARCH 2017

Based on the audit procedures performed for the purpose of reporting a true and fairview on the standalone financial statements of the company and taking into considerationthe information and explanations given to us and the books of account and other recordsexamined by us in the normal course of audit and in our opinion we report that: I. a.The Company has generally maintained proper records showing full particulars includingquantitative details and situation of fixed assets. b. The Company has a policy ofphysically verifying its fixed assets in a phased manner to cover all the assets of theCompany in a block of three years which in our opinion is reasonable having regard tothe size of the Company and the nature of its business. c. The title deeds of theimmovable properties are held in the name of the company.

II. a. The inventory has been physically verified by the Management at reasonableintervals during the year. b. The procedures of physical verification of inventoriesfollowed by the management is reasonable and adequate in relation to the size of thecompany and nature of its business. No material discrepancies were noticed on suchphysical verification. c. The company has maintained proper records of inventories. Asexplained to us there were no material discrepancies noticed on physical verification ofinventory as compared to the book records.

III. The Company has not granted any loans secured or unsecured during the period tothe parties covered in the Register maintained under section 189 of the Companies Act2013.

IV. The Company has not granted any loans investments or any guarantees or securitiesaccordingly provision of Section 185 and 186 does not apply.

V. The Company has not accepted any deposits from public. Accordingly this clause isnot applicable. VI. The Central Government has not prescribed maintenance of cost recordsunder section 148(1) of the Act.

VII. a. The company is generally regular in depositing undisputed statutory duesincluding provident fund 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 the appropriate authorities during the year. No undisputed amount inrespect of the aforesaid statutory dues were in arrears as at 31st March 2017 for aperiod of more than six months from the date they become payable. b. There are no dues ofIncome Tax Sales tax Service Tax Customs duty Wealth Tax Excise Duty and Cess whichhave not been deposited on account of a dispute.

VIII. The Company has not defaulted in repayment of dues to any financial institutionsor banks.

IX. The Company did not raise any money by way of initial public offer (including debtsinstruments) or further public offer and term loans during the year. Accordingly thisclause is not applicable.

X. No material fraud by the company or on the company by its officers or employees hasbeen noticed or reported during the course of our audit.

XI. The company has paid / provided for managerial remuneration in accordance with therequisite approvals as mandated by the provisions of section 197 read with ScheduleV of the Act. XII. The Company is not a Nidhi Company. Accordingly this clause is notapplicable.

XIII. All Transaction with related parties are in compliance with Section 177 andsection 188 of the Companies Act2013 where applicable and details of such transactionshave been disclosed in the financial statements as required by the applicable Accountingstandards. XIV. The Company has not made any preferential allotment or private placementof shares or fully or party convertible debentures during the year. Accordingly thisclause is not applicable. XV. The Company has not entered into any non – cashtransactions with directors or persons connected with them.

XVI. The Company is not required to be registered under Section 45-IA of the ReserveBank of India Act 1934.

For V. Sankar Aiyar & Co
Chartered Accountants
Firm Reg No: 109208W
V. Mohan
Partner
Membership No. 17748
Place: Mumbai
Date : 24th May 2017

ANNEXURE 2 TO THE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF EMMESSAR BIOTECH &NUTRITION LIMITED ON STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31STMARCH 2017

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section143 of the Companies Act 2013 ("the Act")

We have audited the internal financial controls over financial reporting of EmmessarBiotech & Nutrition Limited ("the Company") as of March 31 2017 inconjunction with our audit of the financial statements of the Company for the year endedon that date.

Management's Responsibility for Internal Financial Controls

The Company's management is responsible for establishing and maintaining internalfinancial controls based on the internal control over financial reporting criteriaestablished by the Company considering the essential components of internal control statedin the Guidance Note on Audit of Internal Financial Controls over Financial Reportingissued by the Institute of Chartered Accountants of India. These responsibilities includethe design implementation and maintenance of adequate internal financial controls thatwere operating effectively for ensuring the orderly and efficient conduct of its businessincluding adherence to company's policies the safeguarding of its assets the preventionand detection of frauds and errors the accuracy and completeness of the accountingrecords and the timely preparation of reliable financial information as required underthe Companies Act 2013.

Auditors' Responsibility

Our responsibility is to express an opinion on the Company's internal financialcontrols over financial reporting based on our audit. We conducted our audit in accordancewith the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting(the "Guidance Note") and the Standards on Auditing issued by ICAI and deemedto be prescribed under section 143(10) of the Companies Act 2013 to the extentapplicable to an audit of internal financial controls both applicable to an audit ofInternal Financial Controls and both issued by the Institute of Chartered Accountants ofIndia. Those Standards and the Guidance Note require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetheradequate internal financial controls over financial reporting was established andmaintained and if such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy ofthe internal financial controls system over financial reporting and their operatingeffectiveness. Our audit of internal financial controls over financial reporting includedobtaining an understanding of internal financial controls over financial reportingassessing the risk that material weakness exists and testing and evaluating the designand operating effectiveness of internal control based on the assessed risk. The proceduresselected depend on the auditor's Judgment including the assessment of the risks ofmaterial misstatement of the financial statements whether due to fraud or error. Webelieve that the audit evidence we have obtained is sufficient and appropriate to providea basis for our audit opinion on the Company's internal financial controls system overfinancial reporting.

Meaning of Internal Financial Controls over Financial Reporting

A company's internal financial control over financial reporting is a process designedto provide reasonable assurance regarding the reliability of financial reporting and thepreparation of financial statements for external purposes in accordance with generallyaccepted accounting principles. A company's internal financial control over financialreporting includes those policies and procedures that (1) Pertain to the maintenance ofrecords that in reasonable detail accurately and fairly refl ect the transactions anddispositions of the assets of the company; (2) Provide reasonable assurance thattransactions are recorded as necessary to permit preparation of financial statements inaccordance with generally accepted accounting principles and that receipts andexpenditures of the company are being made only in accordance with authorizations ofmanagement and directors of the company; and (3) Provide reasonable assurance regardingprevention or timely detection of unauthorized acquisition use or disposition of thecompany's assets that could have a material effect on the financial statements.

Inherent Limitations of Internal Financial Controls Over Financial Reporting

Because of the inherent limitations of internal financial controls over financialreporting including the possibility of collusion or improper management override ofcontrols material misstatements due to error or fraud may occur and not be detected.Also projections of any evaluation of the internal financial controls over financialreporting to future periods are subject to the risk that the internal financial controlover financial reporting may become inadequate because of changes in conditions or thatthe degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion the Company has in all material respects an adequate internalfinancial controls system over financial reporting and such internal financial controlsover financial reporting were operating effectively as at March 31 2017 based on theinternal control over financial reporting criteria established by the Company consideringthe essential components of internal control stated in the Guidance Note on Audit ofInternal Financial Controls Over Financial Reporting issued by the Institute of CharteredAccountants of India.

For V. Sankar Aiyar & Co
Chartered Accountants
Firm Reg No: 109208W
V. Mohan
Place: Mumbai Partner
Date : 24th May 2017 Membership No. 17748

AUDITOR'S REPORT YEAR TO DATE RESULTS OF THE COMPANY PURSUANT TO THE REGULATION 33 OFTHE SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS 2015

Board of Directors

Emmessar Biotech & Nutrition Limited

We have audited the annual standalone financial results (the statement) of EmmessarBiotech & Nutrition Limited (the company) for the year ended 31st March2017 attached herewith being submitted by the company pursuant to the requirement ofRegulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations2015. This financial statement is the responsibility of the company's management. Ourresponsibility is to express an opinion on this financial statement based on our audit ofsuch financial statement which have been prepared in accordance with the recognition andmeasurement principles laid down in Accounting Standards prescribed under Section 133 ofthe Companies Act 2013 read with relevant rules issued there under as applicable andother accounting principles generally accepted in India. We conducted our audit inaccordance with the auditing standards generally accepted in India. Those standardsrequire that we plan and perform the audit to obtain reasonable assurance about whetherthe financial results are free of material misstatement(s). An audit includes examiningon a test basis evidence supporting the amounts disclosed as financial results. An auditalso includes assessing the accounting principles used and significant estimates made bymanagement. We believe that our audit provides a reasonable basis for our opinion.

In our opinion and to the best of our information and according to the explanationsgiven to us the year to date financial results: (i) are presented in accordance with therequirements of Regulation 33 of the SEBI (Listing Obligations and DisclosureRequirements) Regulations 2015 in this regard; and (ii) give a true and fair view of thenet profit and other financial information for the year ended 31st March 2017.

The statements include the results for the Quarter ended 31st March 2017being the balancing figure between audited figures in respect of the full financial yearand the audited year to date figures up to the third quarter of the current financialyear.

For V. Sankar Aiyar & Co
Chartered Accountants
Firm Reg No: 109208W
V. Mohan
Place: Mumbai Partner
Date : 24th May 2017 Membership No. 17748