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Parker Agrochem Exports Ltd.

BSE: 524628 Sector: Others
NSE: N.A. ISIN Code: INE750B01010
BSE LIVE 15:15 | 06 Sep Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 9.00
PREVIOUS CLOSE 9.43
VOLUME 2600
52-Week high 11.55
52-Week low 9.00
P/E
Mkt Cap.(Rs cr) 4
Buy Price 9.00
Buy Qty 400.00
Sell Price 0.00
Sell Qty 0.00
OPEN 9.00
CLOSE 9.43
VOLUME 2600
52-Week high 11.55
52-Week low 9.00
P/E
Mkt Cap.(Rs cr) 4
Buy Price 9.00
Buy Qty 400.00
Sell Price 0.00
Sell Qty 0.00

Parker Agrochem Exports Ltd. (PARKERAGROCHEM) - Auditors Report

Company auditors report

To the Members of

Parker Agrochem Exports Ltd.

Report on the Financial Statements

We have audited the accompanying financial statements of Parker Agrochem Exports Ltd.which comprise the Balance Sheet as at 31st March 2015 the Statement of Profit and Lossand the Cash Flow Statement for the year then ended and a summary of the significantaccounting policies and other explanatory information.

Management’s Responsibility for the Financial Statements

The Company’s Management is responsible for the preparation of these financialstatements that give a true and fair view of the financial position financial performanceand cash flows of the Company in accordance with the Accounting Standards notified underthe Companies Act 1956 (the Act) read with the General Circular 15/ 2013 dated 13thSeptember 2013 of the Ministry of Corporate Affairs in respect of Section 133 of theCompanies Act 2013 ("Act") and in accordance with the accounting principlesgenerally accepted in India. This responsibility includes the design implementation andmaintenance of internal control relevant to the preparation and presentation of thefinancial 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 financial statements based on ouraudit. We conducted our audit in accordance with the Standards on Auditing issued by theInstitute of Chartered Accountants of India. Those Standards require that we comply withthe ethical requirements and plan and perform the audit to obtain reasonable assuranceabout whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures in the financial statements. The procedures selected depend on theauditor’s judgment including the assessment of the risks of material misstatement ofthe financial statements whether due to fraud or error. In making those risk assessmentsthe audit or considers the internal control relevant to the Company’s preparation andfair presentation of the financial statements in order to design audit procedures that areappropriate in the circumstances but not for the purpose of expressing an opinion on theeffectiveness of the Company’s internal control. An audit also includes evaluatingthe appropriateness of accounting policies used and the reasonableness of the accountingestimates made by the Management as well as evaluating the overall presentation of thefinancial 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: (i) in the case of the Balance Sheet of the stateof affairs of the Company as at 31st March 2015; (ii) in the case of the Statement ofProfit and Loss of the profit of the Company for the year ended on that date and (iii)in the case of the Cash Flow Statement of the cash flows of the Company for the yearended 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 Section 143(11) of theCompanies Act 2013 we give in the Annexure a statement on the matters specified inparagraphs 3 and 4 of the Order to the extent applicable.

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 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 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 the Statement of Profit and Loss and the CashFlow Statement comply with Accounting Standards specified under Section 133 of theCompanies Act 2013 read with Rule 7 of the Companies (Accounts) Rules 2014.

(e) On the basis of written representations received from the directors as on 31stMarch 2015 and taken on record by the Board of Directors none of the directors aredisqualified as on 31st March 2015 from being appointed as a director in terms ofsub-section (2) of Section 164 of the Companies Act 2013.

(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 are no pending litigations having impact on its financial position the Companyis required to disclose in its Financial Statement.

ii. No provision has been made by the Company as required under any law or accountingstandards for material foreseeable losses on long term contracts including derivativecontracts.

iii. There was no amount required to be transferred to the Investor Education andProtection Fund by the Company.

For WADHAWAN & CO.
CHARTERED ACCOUNTANTS
Firm Registration No. 129455W
sd/ -
(AJIT A. WADHAWAN)
Place : Ahmedabad PARTNER
Date : 25/ 05/ 2015 Membership No. 32886

Companies (Auditor’s Report) Order 2015

(i) (a) The company has maintained proper records showing full particulars includingQuantitative details and situation of fixed assets.

(b) As informed to us fixed assets have been physically verified by the management in aphased manner over a period of one year. In our opinion the periodicity of physicalverification is reasonable having regard to size of the company and the nature of itsfixed assets and no material discrepancies between the book records and physical inventoryhave been noticed on such verification.

(ii) (a) The inventory has been physically verified during the year by the managementand frequency of verification is reasonable.

(b) The procedures of physical verification of inventories followed by the managementare reasonable and adequate in relation to the size of the company and the nature of itsbusiness.

(c) The company is maintaining proper records of inventory. There were no materialdiscrepancies noticed on verification between the physical stock and book records.

(iii) In respect of loans secured and unsecured the company has not granted any loansto Companies firms or other parties covered in the Register maintained under section 189of the Companies Act 2013 according to information and explanation given to us.

(iv) In our opinion and according to the information and explanations given to usthere are adequate internal control procedures commensurate with the size of the companyand the nature of its business with regard to purchase of inventory fixed assets and withregard to the sale of goods. During the Course of our audit we have not observed anymajor weakness in internal control system.

(v) As per the information and explanation given to us and as per our examination ofbooks of accounts the company has not accepted any deposit hence there is nocontravention of the directives issued by the Reserve Bank of India and the provisions ofSection 73 to 76 or any other relevant provision of the Companies Act 2013 and the rulesframed there under.

(vi) The Central Government has not prescribed the maintenance of cost records inrespect of the Company under section 148(1) of the Companies Act 2013.

(vii) (a) The Company is generally depositing with appropriate authorities undisputedstatutory dues including Provident fund employees’ state insurance Income taxSales tax Wealth tax Service tax duty of customs duty of excise value added taxCess and other material statutory dues applicable to it. According to the information andexplanations given to us no undisputed amounts payable in respect of Income tax Wealthtax Sales tax duty of custom duty of excise value added tax and Cess were in arrearsas at 31st March 2015 for a period of more than six month from the date they becamepayable.

(b) According to the information and explanation given to us and based on records ofthe company no disputed amount is payable in respect of income tax wealth tax servicetax sales tax custom duty excise duty value added tax and Cess were in arrears as at31st March 2015.

(c) According to the information and explanation given to us and based on records ofthe Company there are no amount required to be transferred to Investors Education Andprovident Fund(IEPF) in accordance with the relevant provisions of the 1956 Act and rulesmade there under.

(viii) The company has no accumulated losses at the end of financial year. The companyhas not incurred cash losses in the current financial year or in the immediately precedingfinancial year.

(ix) In our opinion and according to information and explanations given to us thecompany has not defaulted in repayment of dues to its bankers or financial institution (x)According to the information and explanation given to us and based on records of thecompany no guarantee has been given by the company for loans taken by others from bank orfinancial institution.

(xi) According to information and explanation given to us the company has not raisedany term loan during the year under review.

(xii) Based upon the audit procedures performed by us to the best of our Knowledge andbelief and according to the information and explanations given to us no fraud on or bythe company has been noticed or reported during the year.

For WADHAWAN & CO.
CHARTERED ACCOUNTANTS
Firm Registration No. 129455W
sd/ -
(AJIT A. WADHAWAN)
Place : Ahmedabad PARTNER
Date : 25/ 05/ 2015 Membership No. 32886