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Shukra Pharmaceuticals Ltd.

BSE: 524632 Sector: Health care
NSE: N.A. ISIN Code: INE551C01028
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NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 54.00
PREVIOUS CLOSE 55.00
VOLUME 100
52-Week high 97.00
52-Week low 47.65
P/E 10.63
Mkt Cap.(Rs cr) 8
Buy Price 0.00
Buy Qty 0.00
Sell Price 57.00
Sell Qty 30.00
OPEN 54.00
CLOSE 55.00
VOLUME 100
52-Week high 97.00
52-Week low 47.65
P/E 10.63
Mkt Cap.(Rs cr) 8
Buy Price 0.00
Buy Qty 0.00
Sell Price 57.00
Sell Qty 30.00

Shukra Pharmaceuticals Ltd. (SHUKRAPHARMA) - Auditors Report

Company auditors report

To the Members of

RELISH PHARMACEUTICALS LIMITED

Report on financial statements

We have audited the accompanying financial statements of Relish Pharmaceuticals Limited("the Company") which comprises the Balance Sheet as at March 31 2016 and theStatement of Profit and Loss for the year then ended and a summary of significantaccounting 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 ofthese standalone financial statements that give a true and fair view of the financialposition financial performance and cash flows of the Company in accordance withaccounting 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 the design implementation and maintenance of adequateinternal financial control 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 as 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 issued by the Institute of CharteredAccountants of India as 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 the amounts anddisclosures in the financial statements. The procedures selected depend on the auditor'sjudgments 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 an opinionon whether the Company has in place an adequate internal financial controls system overfinancial reporting and the operating effectiveness of such controls. An audit alsoincludes evaluating the overall presentation of the financial statements. We believe thatthe audit evidence we have obtained is sufficient and appropriate to provide a basis onthe standalone financial statements.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the standalone financial statements give the information required by the Actin the manner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India of the state of affairs of the Company as at March31 2016 its profit and its cash flows for the year ended on that date.

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 the Annexure 1 a statement on the matters specified in paragraphs 3and 4 of the Order.

2. As required by section 143(3) of the Act we report that: a) We have sought andobtained all the information and explanations which to the best of our knowledge andbelief were necessary for the purpose of our audit; b) In our opinion proper books ofaccount as required by law have been kept by the Company so far as appears from ourexamination of those books; c) The Balance Sheet and Statement of Profit and Loss dealtwith by this Report are in agreement with the books of account; d) In our opinion theaforesaid standalone financial statements comply with the Accounting Standards specifiedunder Section 133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014; e)On the basis of the written representation received from the directors as on March 312016 taken on record by the Board of Directors none of the directors is disqualified ason March 31 2016 from being appointed in terms of Section 164 (2) of the Act; and f) withrespect to the other matters to be included in the Auditor's Report in accordance withRule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinion and to the bestof our information and according to the explanations given to us: i. The Company hasdisclosed the impact of pending litigations on its financial position in its financialstatements; ii.The Company did not have any long term contracts including derivativecontracts for which there were any material foreseeable losses. iii.There has been nodelay in transferring amounts to the Investor Education and Protection Fund by theCompany.

For B.J.Trivedi & Associates
Chartered Accountants
ICAI Firm Registration Number: 111042W
Sd/-
Bharat Trivedi
Proprietor
Membership No- 039595
Place: Ahmedabad
Date: 29.04.2016

Annexure to the Independent Auditors' Report

The Annexure referred to in our Report of even date to the members of RelishPharmaceuticals Limited on the accounts of the company for the year ended 31st March2016. Annexure forming a part of AuditorsRs. Report:

1 In respect of its fixed assets: a) The Company is maintaining proper records showingfull particulars including quantitative details and situation of its fixed assets.Necessary records in this regard for the year under consideration are under updating. b)Fixed assets have been physically verified by the management during the year. As explainedto us no material discrepancies were noticed on such verification as compare to the bookrecords. In our opinion the frequencies of verification are reasonable having regard tothe size of the Company and nature of its business. c) According to the information andexplanation given to us and of the basis of examination of title deeds other relevantrecords provided to us evidencing the title confirmation from the lender with whom titledeeds have been deposited as securities of the banking facilities and legal opinionobtained by the Company We report that title deeds of all the immovable properties asdisclosed on notes of fixed assets to the financial statements are held in the name ofthe company.

2 In respect of inventories:

Inventories have substantially been physically verified by the management to the extentof practicable at reasonable intervals during the year. The discrepancies noticed onphysically verification as compare to the book records were not material having regard tothe size and nature of the operation of the Company and have been properly adjusted in thebooks of account.

3 According to the information and explanation given to us the Company has grantedloan unsecured to the Companies firms LLPs Partnership or any other parties covered inthe register maintained under section 189 of the Companies Act 2013. In respect of loangranted repayment of the principal amount and payment of interest thereon as perstipulated in the agreement. There is no overdue amount of loans granted to Company listedin the register maintained under section 189 of the Income Ta Act.

4 According to information and explanations given to us and in our opinion the Companyhas not any advanced loan investment guarantee or security to any person as specifiedunder section 185 of the Companies Act 2013. The company has not advanced any loanguarantee or security to any person within the meaning of section 186 of the companies'act 2013. The provisions of section 186 of companies' act 2016 are also not applicablewith regard to investment made.

5 According to the information and explanations given to us the Company has notaccepted any deposits from the public.

6 We have broadly reviewed the books of account maintained by the Company pursuant tothe rules made by the Central Government for the maintenance of cost records under section148(1) of the Companies Act 2013 related to the manufacture of products and are of theopinion that prima facie the specified accounts and records have been made andmaintained. We have not however made a detailed examination of the same.

7 According to the information and explanations given to us in respect of statutorydues: a) The Company has generally been regular in depositing undisputed statutory duesincluding Income Tax Sales Tax service Tax Customs Duty Excise Duty Value Added TaxCess and other material statutory dues applicable to it with the appropriate authorities.b) There were no undisputed amount payables in respect of Income Tax. Sales Tax WealthTax Service Tax Excise Duty Custom Duty Value Added Tax Cess and other materialstatutory dues in arrears as at 31st March 2016 for a period of more than six months fromthe date they became payable. c) There are no amounts that are due to be transferred tothe Investor Education

8 Based on audit procedure and according to the information and explanation given tous we are of the opinion that the Company has not defaulted in repayment of dues to banksduring the year. The Company has no outstanding dues in respect of financial institutionGovernment or debenture holders.

9 In our opinion and according to the information and explanation given by themanagement during the financial year the company has not raised any term loan. Accordingto the information and explanation given to us there was no money raised by initialpublic offer by the company for the year under consideration.

10 Based upon the audit procedures performed for the purpose of reporting the true andfair view of the financial statements and as per the information and explanations given bythe management we report that no fraud on or by the Company has been noticed or reportedduring the year.

11 According to the information and explanation given to us the Company has paid /provided for managerial remuneration in accordance with the requisite approval mandated bythe provisions of section 197 read with schedule V of the Companies' Act 2013.

12 In our opinion and according to the information and explanation given to us theCompany is not a nidhi company. Accordingly clause 3(xii) of the Companies (AuditorsReport) order 2016 is not applicable.

13 According to the information and explanation given to us and based on ourexamination of the records of the Company transactions read with the related parties arein compliance with section 177 and section 188 of the Act where applicable and details ofsuch transactions have been disclosed in the financial statements as required by theapplicable accounting standards.

14 The Company has not made any preferential allotment or private placement of sharesor fully or partly convertible debenture during the year. Accordingly clause 3(xiv) of theCompanies (Auditors Report) order 2013 is not applicable.

15 According to information and explanation given to us and based on our examinationof the records of the Company the Company has not entered in to non-cash transactionswith directors or person connected with him. Accordingly clause 3(xv) of the Companies(Auditors Report) 2016 is not applicable.

16 The company is not required to be registered under section 45-IA of the Reserve Bankof India Act 1934.

For B.J.Trivedi & Associates
Chartered Accountants
ICAI Firm Registration Number: 111042W
Sd/-
Bharat Trivedi
Proprietor
Membership No- 039595
Place: Ahmedabad
Date: 29.04.2016