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Kabra Drugs Ltd.

BSE: 524322 Sector: Health care
NSE: N.A. ISIN Code: INE323K01017
BSE LIVE 15:15 | 20 Sep 3.33 -0.17
(-4.86%)
OPEN

3.65

HIGH

3.65

LOW

3.33

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 3.65
PREVIOUS CLOSE 3.50
VOLUME 901
52-Week high 9.85
52-Week low 3.33
P/E
Mkt Cap.(Rs cr) 1
Buy Price 0.00
Buy Qty 0.00
Sell Price 3.33
Sell Qty 54.00
OPEN 3.65
CLOSE 3.50
VOLUME 901
52-Week high 9.85
52-Week low 3.33
P/E
Mkt Cap.(Rs cr) 1
Buy Price 0.00
Buy Qty 0.00
Sell Price 3.33
Sell Qty 54.00

Kabra Drugs Ltd. (KABRADRUGS) - Auditors Report

Company auditors report

TO THE MEMBERS OF KABRA DRUGS LIMITED

REPORT ON THE STANDALONE FINANCIAL STATEMENTS

We have audited the accompanying standalone financial statements of Kabra Drugs Limited("the Company") which comprise the Balance Sheet as at March 31 2015 theProfit and Loss Statement the Cash Flow Statement for the year then 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 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 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 misstatements.

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 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 accounting policies used and the reasonablenessof the accounting estimates made by the Company's directors as well as evaluating theoverall 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 March 31 2015 and its profit and its cash flows for the year ended on that date.

REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS

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 Profit and Loss Statement and the Cash Flow Statement dealtwith 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 March31 2015 taken on record by the Board of Directors none of the directors is disqualifiedas on March 31 2015 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 2015 in our opinionand to the best of our information and according to the explanations given to us:

(i) The Company has disclosed the impact of pending litigations on its financialposition in its financial statements as referred to in Notes to the financial statements.

(ii) The Company has made provision as required under the applicable law or accountingstandards for material foreseeable losses if any.

(iii) There has been no delay in transferring amounts required to be transferred tothe Investor Education and Protection Fund by the Company except which are held inabeyance due to pending legal cases.

For AGRAWAL JHAVAR ASSOCIATES
Chartered Accountants
F.R.N.- 008614C
Place :- Indore Dharmendra Agrawal
Dated:- 30.05.2015 Partner
M.N. 077507

Annexure to the Auditors’ Report

The Annexure referred to in our report to the members of Kabra Drugs Limited on theaccounts of the company for the

year Ended on 31st March 2015. We report that:-

Fixed Assets

a) the company is maintaining proper records showing full particulars includingquantitative details and situation of fixed assets;

b) The fixed assets have been physically verified by the management at reasonableintervals; and no material discrepancies were noticed on such verification and the samehave been properly dealt with in the books of account;

c) The company has not Dispose off any fixed assets during the year.

Inventory and it’s physical verification

a) physical verification of inventory has been conducted at reasonable intervals by themanagement

b) The procedures of physical verification of inventory followed by the managementreasonable and adequate in relation to the size of the company and the nature of itsbusiness.

c) the company is maintaining proper records of inventory and no material discrepancieswere noticed on physical verification and the same have been properly dealt with in thebooks of account

Loan granted/ taken from related companies

a) The company has not granted any loans secured or unsecured to companies firms orother parties covered in the register maintained under section 189 of the Companies Act.

b) There are no overdue amount is more than rupees one lakh

Internal Control

a) There is an adequate internal control system commensurate with the size of thecompany and the nature of its business for the purchase of inventory and fixed assets andfor the sale of goods and services. We have not observed any major weaknesses in internalcontrol system.

Public Deposits

a) As per Information and explanation given to us the company has not accepted anydeposits from the public during the year.

Internal Audit

a) In our opinion the company has an internal audit system commensurate with the sizeand nature of the business.

Cost Records

a) The company has made and maintenance of cost records which has been specified by theCentral Government under sub-section (1) of section 148 of the Companies Act 2013.

Statutory Dues

a) The company is regular in depositing undisputed statutory dues including providentfund employees’ state insurance income-tax sales-tax wealth tax service taxduty of customs duty of excise value added tax cess and any other statutory dues withthe appropriate authorities and

b) According to information and explanation given to us no undisputed amount payablewere n arrear for a period of more than six months from the date they became payable.

c) The amount required to be transferred to investor education and protection fund inaccordance with the relevant provisions of the Companies Act 2013 and rules made thereunder has been transferred to such fund within time.

Sick Company

a) The Company has not having accumulated losses at the end of the financial year arenot less than fifty per cent of its net worth and it has incurred cash losses in suchfinancial year and in the immediately preceding financial year;

Guarantees Given by the company

a) The company has not given any guarantee for loans taken by others from bank orfinancial institutions the terms and conditions whereof are prejudicial to the interestof the company

Term Loans

a) The company has not obtained term loans during the year.

b) According to information and explanation given to us the company has not defaultedin repayment of dues to a financial institution or bank for the period and amount ofdefault to be reported.

Frauds noticed

a) During the course of our examination of the books of account carried out accordancewith the generally accepted auditing practice in India and to the best of our knowledgeand according to the information and explanation given to us no fraud on or by the companyhas been noticed or reported during the year; nor have been informed of any such case bythe management.

For AGRAWAL JHAVAR ASSOCIATES
Chartered Accountants
F.R.N.- 008614C
Place :- Indore Dharmendra Agrawal
Dated:- 30.05.2015 Partner
M.N.077507