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Parabolic Drugs Ltd.

BSE: 533211 Sector: Health care
NSE: PARABDRUGS ISIN Code: INE618H01016
BSE LIVE 15:06 | 11 Dec 8.46 0.20
(2.42%)
OPEN

8.03

HIGH

8.67

LOW

8.03

NSE 15:52 | 11 Dec 8.50 0.10
(1.19%)
OPEN

8.10

HIGH

8.70

LOW

8.00

OPEN 8.03
PREVIOUS CLOSE 8.26
VOLUME 7861
52-Week high 10.39
52-Week low 6.02
P/E
Mkt Cap.(Rs cr) 52
Buy Price 8.46
Buy Qty 50.00
Sell Price 8.67
Sell Qty 910.00
OPEN 8.03
CLOSE 8.26
VOLUME 7861
52-Week high 10.39
52-Week low 6.02
P/E
Mkt Cap.(Rs cr) 52
Buy Price 8.46
Buy Qty 50.00
Sell Price 8.67
Sell Qty 910.00

Parabolic Drugs Ltd. (PARABDRUGS) - Auditors Report

Company auditors report

TO THE MEMBERS OF PARABOLIC DRUGS LIMITED

Report on the Financial Statements

We have audited the accompanying financial statements of M/s. Parabolic DrugsLimited which comprises the Balance sheet as at 31st March 2016 and the Statement ofProfit & Loss the Cash Flow Statement for the year then ended and a summary ofsignificant accounting policies and other explanatory information.

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 preparation of these financial statements thatgive a true and fair view of the financial position financial performance and cash flowsof the Company in accordance with the accounting principles generally accepted in Indiaincluding the Accounting Standards specified under section 133 of the Act read with Rule7 of the Companies (Accounts) Rule 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 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 accordancewith the Standards on Auditing specified under Section 143(10) of the Act. Those Standardsrequire that we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether the financial statements are free from materialmisstatement. An audit involves performing procedures to obtain audit evidence about theamounts and the disclosures in the financial statements. The procedures selected depend onthe 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 accounting policies used and the reasonablenessof the accounting estimates made by

Company‘s Directors as well as evaluating the overall presentation of thefinancial statements. We believe that the audit evidence we have obtained is sufficientand appropriate to provide a basis for our audit opinion on the financial statements.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us subject to Note 25(1) of the financial statements regarding confirmationof debit or credit balances on whatsoever account the aforesaid financial statements readwith note 25 forming part of financial statements give the information required by theAct in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India:

a) in the case of Balance Sheet of the state of affairs of the Company as at 31stMarch 2016;

b) in the case of Statement of Profit & Loss of the Loss for the yearended on that date and

c) in case of cash flow statement of the cash flows for the year ended on thatdate.

Report on Other Legal and Regulatory Requirements

As required by the Companies (Auditor‘s Report) Order 2016 (?the order ) issuedby the Central Government of

India in terms of sub-section 11 of section 143 of the Act we enclose in the Annexure?A a statement on the matters specified in paragraph 3 and 4 of the said order to theextent applicable . 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 thebest of 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 appears from our examination of those books.

c) The Balance Sheet and the Statement of Profit & Loss and the Cash FlowStatement dealt 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 written representations received from the Directors as on 31stMarch 2016 and 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 Section 164(2) of the Act.

f) With respect to adequacy of the internal financial controls over financialreporting of the company and the operating effectiveness of such controls refer to ourseparate report in Annexure 'B': 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) Thecompany has disclosed the impact of pending litigations on its financial position in thefinancial statements; ii) The Company has made provision as required under the applicablelaw or accounting standards for material foreseeable losses if any includingderivatives contracts; and iii) There has been no delay in transferring amounts requiredto be transferred to the Investor Education and Protection Fund by the Company.

Chandigarh FOR S.K. BANSAL & CO.
Dated: 28th May 2016 CHARTERED ACCOUNTANTS
Firm Registration No. 002222N
(S.K. Bansal)
Partner
Membership No: 013147
Name: M/s. S.K. Bansal& Co.
Chartered Accountants
Address: Kothi No. 3193 Sector 28 D
Chandigarh-160002

INDEPENDENT AUDITORS REPORT OF EVEN DATE ON THE STANDALONE FINANCIAL STATEMENTS

OF PARABOLIC DRUGS LIMITED

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

We have audited the internal financial controls over financial reporting of PARABOLICDRUGS LIMITED

Chandigarh ("the Company") as of March 31 2016 in conjunction with our auditof the standalone financial statements of the Company for the year ended on that date.

Managements 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 responsibilitiesinclude the design implementation and maintenance of adequate internal financial controlsthat were operating effectively for ensuring the orderly and efficient conduct of itsbusiness including adherence to company’s policies the safeguarding of its assetsthe prevention and detection of frauds and errors the accuracy and completeness of theaccounting records and the timely preparation of reliable financial information asrequired under the 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 onAuditing issued by ICAI and deemed to be prescribed under section 143(10) of theCompanies Act 2013 to the extent applicable to an audit of internal financial controlsboth applicable to an audit of Internal Financial Controls and both issued by theInstitute of Chartered Accountants of India. Those Standards and the Guidance Note requirethat we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether adequate internal financial controls over financialreporting was established and maintained and if such controls operated effectively in allmaterial respects. Our audit involves performing procedures to obtain audit evidence aboutthe adequacy of the internal financial controls system over financial reporting and theiroperating effectiveness. Our audit of internal financial controls over financial reportingincluded obtaining an understanding of internal financial controls over financialreporting assessing the risk that material weakness exists and testing and evaluatingthe design and operating effectiveness of internal control based on the assessed risk. Theprocedures selected depend on the auditor’s judgement including the assessment ofthe risks of material misstatement of the financial statements whether due to fraud orerror. We believe that the audit evidence we have obtained is sufficient and appropriateto provide basis for our audit opinion on the Company’s internal financial controlssystem over financial 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 reflect 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 authorisations ofmanagement and directors of the company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorised 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 2016 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 Reporting issued by the Institute of Chartered Accountants of India"].

Chandigarh; FOR S.K. BANSAL & CO.
Dated: 28th May 2016 CHARTERED ACCOUNTANTS
(S.K.Bansal)
Partner
Membership No: 013147
FRN No 002222N
Name: M/s. S.K. Bansal & Co.
Chartered Accountants
Address: Kothi No. 3193
Sector 28 D
Chandigarh-160002