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Sunil Healthcare Ltd.

BSE: 537253 Sector: Others
NSE: N.A. ISIN Code: INE671C01016
BSE LIVE 15:28 | 23 Nov 81.60 -0.75
(-0.91%)
OPEN

79.00

HIGH

83.75

LOW

79.00

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 79.00
PREVIOUS CLOSE 82.35
VOLUME 639
52-Week high 108.00
52-Week low 65.50
P/E 14.39
Mkt Cap.(Rs cr) 84
Buy Price 80.20
Buy Qty 200.00
Sell Price 81.60
Sell Qty 88.00
OPEN 79.00
CLOSE 82.35
VOLUME 639
52-Week high 108.00
52-Week low 65.50
P/E 14.39
Mkt Cap.(Rs cr) 84
Buy Price 80.20
Buy Qty 200.00
Sell Price 81.60
Sell Qty 88.00

Sunil Healthcare Ltd. (SUNILHEALTHCARE) - Auditors Report

Company auditors report

TO THE MEMBERS OF SUNIL HEALTHCARE LIMITED Report on the Standalone FinancialStatements

We have audited the accompanying standalone financial statements of Sunil HealthcareLimited ("the Company") which comprise the Balance Sheet as at 31st March2017 the Statement of Profit and Loss the Cash Flow Statement and a summary of thesignificant accounting policies and other explanatory information for the year then ended.

Management's Responsibility for the Financial Statements

The Company's Board of Directors is responsible for the matters stated in Section134(5) of the CompaniesAct 2013 ("theAct") 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.

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 theAct and the Rules made thereunder.

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 standalone financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the standalone financial statements. The procedures selected depend on theauditor's judgment including the assessment of the risks of material misstatement of thestandalone financial statements whether due to fraud or error. In making those riskassessments the auditor considers internal financial control relevant to the Company'spreparation of the financial statements that give a true and fair view in order to designaudit procedures that are appropriate in the circumstances An audit also includesevaluating the appropriateness of the accounting policies used and the reasonableness ofthe accounting estimates made by the Company's Directors as well as evaluating theoverall presentation of the standalone 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 Companies Act 2013 in the manner so required and give a true and fair view inconformity with the accounting principles generally accepted in India of the state ofaffairs of the Company as at 31st March 2017 and its profit and its cash flows for theyear 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 bythe Central Government of India in terms of sub-section (11) of section 143 of theCompanies Act2013 we give in the Annexure A a statement on the matters specified inparagraphs 3 and 4 of the Order to the extent applicable.

2. As required by Section 143 (3) of theAct 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 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 unde

Section 133 of theAct read with Rule 7 of the Companies (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 theAct.

(f) With respect to the adequacy of the internal financial control over financialreporting of the Company and the operating effectiveness of such controls refer to ourseparate Report in "Annexure B".

(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 itsfinancial statements - Refer Note 17 to the financial statements ii. The Company did nothave any material foreseeable losses on long-term contracts including derivative contracts: iii. There has been no delay in transferring amounts required to be transferred to theInvestor Education and Protection Fund by the Company. iv. The Company has providedrequisite disclosures in Note No. 29.10 to these standalone financial statements as to theholding of Specified Bank Notes on November 8 2016 and December 30 2016 as well asdealings in Specified Bank Notes during the period from November 8 2016 to December 302016. Based on our audit procedures and relying on the management representation regardingthe holding and nature of cash transactions including Specified Bank Notes we reportthat these disclosures are in accordance with the books of accounts maintained by theCompany and as produced to us by the Management.

Chartered Accountants
Firm's Reg. No. 02049E
B.3K.3Sipani
Place :3New Delhi Partner
Date :318th May2017 Membership No 088926

Annexure A

Annexure referred to in paragraph 13of our report of even date on the other legal andregulatory requirements (Re: Sunil Healthcare Limited)

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

b. Fixed Assets have been physically verified by the management as per regularprogramme of verifications. No material discrepancy was noticed on such verifications.

c. According to information and explanations given by the management the title deedsof immovable properties included in fixed assets are held in the name of the company.

(ii) The management has conducted physical verification of inventories at reasonableinterval during the year and no material discrepancies were noticed on such physicalverification.

(iii) According to the information and explanations given to us the Company has notgranted any loans secured or unsecured to Companies firms Limited LiabilityPartnerships or other parties covered in the register maintained under Section 189 of theCompaniesAct 2013. Therefore the provisions of clause 3(iii) of the order are notapplicable to the Company.

(iv) According to the information and explanations given to us the Company has notgranted any loan made investments or provided guarantees and securities in respect ofwhich provisions of section 185 and 186 of the Companies Act 2013 are applicable.Therefore the provisions of the clause 3(iv) of the order are not applicable to theCompany.

(v) The Company has not received any deposit during the year as covered under section76 of the CompaniesAct 2013. Therefore provisions of clause 3(v) of the order are notapplicable to the Company.

(vi) We have broadly reviewed the books of accounts maintained by the Company pursuantto the rules made by the Central Government for the maintenance of cost records undersection 148(1) of the Companies Act 2013 and are of the opinion that

prima facie the prescribed accounts and records have been made and maintained. We havenot however made a detailed examination of the same.

(vii) a. According to the records of the Company the Company is generally regular indepositing undisputed statutory dues including Provident Fund Employees' State InsuranceIncome-tax Sales-tax Service tax Duty of Customs Duty of Excise Value Added Tax cessand other material statutory dues deducted / accrued in the books with the appropriateauthorities. There were no undisputed outstanding statutory dues as at the year end for aperiod of more than six months from the date they became payable. b. According to therecords of the Company there are no dues outstanding of income tax sales tax servicetax duty of customs duty of excise and value added tax on account of any dispute.

(viii) The Company has not defaulted in repayment of dues to banks. The company did nothave any outstanding loan from any financial institution and Government and dues todebenture holders.

(ix) The Company has not raised any monies by way of initial public offer or furtherpublic offer (including debt instruments). Further in our opinion and according to theexplanations given to us term loans were applied for the purpose for which loans wereraised.

(x) Based upon the audit procedures performed in accordance with generally acceptedauditing practice in India for the purpose of reporting the true and fair view of thefinancial statements and according to the information and explanations given to us nofraud by the Company or no fraud on the Company by its officers and employees has beennoticed or reported during the year. (xi) According to the information and explanationsgiven by the management managerial remuneration has been paid /provided in accordancewith the requisite approvals mandated by the provisions of section 197 read with scheduleV to the Companies Act 2013.

(xii) In our opinion the Company is not a Nidhi company. Therefore the provisions ofclause 3(xii) of the Order are not applicable to the Company.

(xiii) According to the information and explanations given by the managementtransactions with the related parties are in compliance with section 177 and 188 of theCompanies Act 2013 where applicable and the details have been disclosed in the FinancialStatements as required by the applicable accounting standards.

(xiv) The Company has not made any preferential allotments or private placement ofshares or fully or partly convertible debentures during the year under review. Thereforethe provisions of clause 3(xiv) of the Order are not applicable.

(xv) According to the information and explanations given by the management the Companyhas not entered into any non-cash transactions with directors or persons connected withdirectors. Therefore the provisions of clause 3(xv) of the Order are not applicable.

(xvi) In our opinion the Company is not required to be registered under section 45-IAof the Reserve Bank of India Act 1934.

For Singhi & Co..
Chartered Accountants
Firm's Reg. No. 02049E
B.3K.3Sipani
Place :3New Delhi Partner
Date :318th May2017 Membership No 088926

ANNEXURE B

Report on the Internal Financial controls under Clause (i) of Sub - section 3 ofSection 143 of the Companies Act 2013 ("theAct")

We have audited the internal financial controls over financial reporting of SunilHealthcare Limited ('the Company") as of March 31 2017 in conjunction with our auditof the financial statements of the Company for the year ended on 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 the 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 prevention and detection offrauds and errors the accuracy and completeness of the accounting records and the timelypreparation of reliable financial information as required under the CompaniesAct 2013.

Auditor's 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 as 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 of and plan and perform the audit to obtain reasonable assurance aboutwhether adequate 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 a material weakness exist and testing and evaluating the designand operating effectiveness of internal control based on the assessed risk. The proceduresselected depend on the auditor's judgement including the assessment of the risks ofmaterial misstatement of the financial statements whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the Company's internal financial controls systemover financial reporting.

Meaning of Internal Financial Controls over Financial Reporting

ACompany's internal financial control over financial reporting is a process designed toprovide 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 authorization 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 controlsover 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 the financial reporting criteria established by the companyconsidering the essential components of internal control stated in the Guidance Note onAudit of Internal Financial Controls over Financial Reporting issued by the Institute ofCharteredAccountants of India.

Chartered Accountants
Firm's Reg. No. 02049E
B.3K.3Sipani
Place :3New Delhi Partner
Date :318th May2017 Membership No 088926