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Aditya Consumer Marketing Ltd.

BSE: 540146 Sector: Others
NSE: N.A. ISIN Code: INE427V01013
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NSE 05:30 | 01 Jan Aditya Consumer Marketing Ltd
OPEN 22.10
PREVIOUS CLOSE 22.10
VOLUME 9000
52-Week high 78.95
52-Week low 18.20
P/E 8.80
Mkt Cap.(Rs cr) 32
Buy Price 18.60
Buy Qty 1000.00
Sell Price 25.90
Sell Qty 1000.00
OPEN 22.10
CLOSE 22.10
VOLUME 9000
52-Week high 78.95
52-Week low 18.20
P/E 8.80
Mkt Cap.(Rs cr) 32
Buy Price 18.60
Buy Qty 1000.00
Sell Price 25.90
Sell Qty 1000.00

Aditya Consumer Marketing Ltd. (ADITYACONSUMER) - Auditors Report

Company auditors report

to members of

Aditya Consumer Marketing Limited

Report on the Financial Statements

We have audited the accompanying financial statements of Aditya Consumer MarketingLimited ("the Company") which comprise the balance sheet as at 31 March 2019and the statement of profit and loss statement of cash flows for the year then endedand notes to the financial statements including a summary of the significant accountingpolicies and other explanatory information.

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid financial statements give the information required by theCompanies Act 2013 ("Act") in the manner so required and give a true and fairview in conformity with the accounting principles generally accepted in India of thestate of affairs of the Company as at 31 March 2019 and profit & loss account andcash flows for the year ended on that date.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specifiedunder section 143(10) of the Act. Our responsibilities under those SAs are furtherdescribed in the Auditor's Responsibilities for the Audit of the Financial Statementssection of our report. We are independent of the Company in accordance with the Code ofEthics issued by the Institute of Chartered Accountants of India together with the ethicalrequirements that are relevant to our audit of the financial statements under theprovisions of the Act and the Rules thereunder and we have fulfilled our other ethicalresponsibilities in accordance with these requirements and the Code of Ethics. We believethat the audit evidence we have obtained is sufficient and appropriate to provide a basisfor our opinion.

Key Audit Matters

Key audit matters are those matters that in our professional judgment were of mostsignificance in our audit of the financial statements of the current period. These matterswere addressed in the context of our audit of the financial statements as a whole and informing our opinion thereon and we do not provide a separate opinion on these matters.

Description of Key Audit Matter

During the course of audit we observed the following issues which in our opinionclassify to be Key Audit Matter. The issues were discussed with the management and theirexplanations are duly incorporated here in under.

Valuation of inventory has been done after excluding the tax component containedtherein. However basis of exclusion of GST is not explained anywhere. Any error in suchcomputation will adversely affect the financial health.

How our audit addressed the key audit matters

Our audit procedures included

- Evaluation of method for ascertaining the tax component

- Obtaining and understanding of the system employed by the company for ascertainingthe tax component

- Tested sample of contracts executed as such.

Based on the above work performed we found the management judgment of exclusion of taxcomponent in inventory held by it appears to be reasonable.

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 financial statements that give a true and fair view of the financial positionfinancial performance and cash flows of the Company in accordance with the accountingprinciples generally accepted in India including the Accounting Standards specified underSection 133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014. Thisresponsibility also includes maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding of the assets of the Company and for preventingand detecting frauds and other irregularities; selection and application of appropriateaccounting policies; making judgments and estimates that are reasonable and prudent; anddesign implementation and maintenance of adequate internal financial controls that wereoperating effectively for ensuring the accuracy and completeness of the accountingrecords relevant to the preparation and presentation of the financial statements thatgive a true and fair view and are free from material misstatement whether due to fraud orerror.

Auditors' 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 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 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 of thefinancial statements whether due to fraud or error.

In making those risk assessments the auditor considers internal financial controlrelevant to the Company’s preparation of the financial statements that give a trueand fair view in order to design audit procedures that are appropriate in thecircumstances.

An audit also includes evaluating the appropriateness of the accounting policies usedand the reasonableness of the accounting estimates made by the Company's Directors aswell as evaluating the overall 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 financial statements.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid 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:

i. in the case of the Balance Sheet of the state of affairs of the Company as at 31stMarch 2019;

ii. in the case of the Statement of Profit and Loss of the profit of the Company forthe year ended on that date; and

iii. in the case of the Cash Flow Statement of the cash flows of the Company for theyear ended on that date.

Report on Other Legal and Regulatory Requirements

As required by the Companies (Auditor's Report) Order 20 15 (the "Order")issued by the Central Government in terms of Sub section 11 of Section 143 of TheCompanies Act 2013 we give in the Annexure a statement on the matters specified inparagraphs 3 and 4 of the Order.

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 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 Balance Sheet the Statement of Profit and Loss and the CashFlow Statement comply with the Accounting Standards specified under 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 2019 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2019 from being appointed as a director in terms of Section164(2) of the Act.

(f) With respect to the adequacy of the internal financial controls over financialreporting of the Company and the operating effectiveness of such controls the same appearto be satisfactory.

(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. the Company does not have any pending litigations which would impact its financialposition.

ii. the Company did not have any long-term contracts including derivative contracts forwhich there were any material foreseeable losses.

iii. there were no amounts which were required to be transferred to the InvestorEducation and Protection Fund by the Company.

For O.P. Tulsyan & Co
Chartered Accountants
Firm Reg No 500028N
Place: Patna Partner
Date: 28th May 2019 Membership No 044173 of 1990

Annexure to the Auditors' Report

The Annexure referred to in our report to the members of Aditya Consumer MarketingLimited ('The Company') for the year ended 31st March 2019 (in terms of the CompaniesAuditor's Report Order 201 6 dated 29.03.2016 issued by Ministry of Corporate Affairs.).

We report that:

1.

(a) Whether the company is maintaining proper records showing full particularsincluding quantitative details and situation of fixed assets;

"Yes"

(b) Whether these fixed assets have been physically verified by the management atreasonable intervals; whet her any material discrepancies were noticed on suchverification and if so whether the same have been properly dealt with in the books ofaccount;

"Yes"

(c) Whether the title deeds of immovable properties are held in the name of thecompany. If not provide the details thereof

"Yes"

2.

(a) Whether physical verification or inventory has been conducted at reasonableintervals by the management and whether any material discrepancies were noticed and if sowhether they have been properly dealt with in the books of account

"Yes No Not Applicable"

3. Whether the company has granted any loans secured or unsecured to companies firmsLimited Liability Partnerships or other parties covered in the register maintained undersection 189 of the Companies Act. If so

"No"

(a) whether the terms and conditions of the grant of such loans are not prejudicial tothe company's interest;

"Not Applicable"

(b) whether the schedule of repayment of principal and payment of interest has beenstipulated and whether the repayments or receipts are regular;

"Not Applicable"

(c) if the amount is overdue state the total amount overdue for more than ninety daysand whether reasonable steps have been taken by the company for recovery of the principaland interest;

"Not Applicable"

4. In respect of loans investments guarantees and security whether provisions ofsection 185 and 186 of the Companies Act 2013 have been complied with. If not providethe details thereof.

"Yes Not Applicable"

5. In case the company has accepted deposits whether the directives issued by theReserve Bank of India and the provisions of sections 73 to 76 or any other relevantprovisions of the Companies Act 2013 and the rules framed there under where applicablehave been complied with? If not the nature of such contraventions be stated; If an orderhas been passed by Company Law Board or National Company Law Tribunal or Reserve Bank ofIndia or any court or any other tribunal whether the same has been complied with or not?

"No Not Applicable"

6. Whether maintenance of cost records has been specified by the Central Governmentunder sub-section (1) of section 148 of the Companies Act 2013 and whether such accountsand records have been so made and maintained.

No Not Applicable

7.

(a) Is the company regular in depositing undisputed statutory dues including providentfund employees' state insurance income-tax sales-tax service tax duty of customsduty of excise value added tax cess and any other statutory dues with the appropriateauthorities and if not the extent of the arrears of outstanding statutory dues as at thelast day of the financial year concerned for a period of more than six months from thedate they became payable shall be indicated.

"Generally yes except in certain cases where the same were deposited by thecompany during the currency of audit. However such default has not exceeded sixmonths"

(b) Where dues of income tax or sales tax or service tax or duty of customs or duty ofexcise or value added tax have not been deposited on account of any dispute then theamounts involved and the forum where dispute is pending shall be mentioned. (A mererepresentation to the concerned Department shall not constitute a dispute).

"No Not Applicable"

8. Whether the company has defaulted in repayment of loans or borrowing to a financialinstitution bank Government or dues to debenture holders? If yes the period and theamount of default to be reported (in case of defaults to banks financial institutionsand Government lender wise details to be provided).

"No Not Applicable"

9. Whether moneys raised by way of initial public offer or further public offer(including debt instruments) and term loans were applied for the purposes for which thoseare raised. If not the details together with delays or default and subsequentrectification if any as may be applicable be reported;

"Yes Not Applicable"

10. Whether any fraud by the company or any fraud on the Company by its officers oremployees has been noticed or reported during the year; If yes the nature and the amountinvolved is to be indicated;

"No Not Applicable"

11. Whether managerial remuneration has been paid or provided in accordance with therequisite approvals mandated by the provisions of section 197 read with Schedule V to theCompanies Act? If not state the amount involved and steps taken by the company forsecuring refund of the same;

"Yes Not Applicable"

12. Whether the Nidhi Company has complied with the Net Owned Funds to Deposits in theratio of 1: 20 to meet out the liability and whether the Nidhi Company is maintaining tenper cent unencumbered term deposits as specified in the Nidhi Rules 2014 to meet out theliability;

"Not Applicable"

13. Whether all transactions with the related parties are in compliance with sections177 and 188 of Companies Act 2013 where applicable and the details have been disclosed inthe Financial Statements etc. as required by the applicable accounting standards;

"Yes"

14. Whether the company has made any preferential allotment or private placement ofshares or fully or partly convertible debentures during the year under review and if soas to whether the requirement of section 42 of the Companies Act 2013 have been compliedwith and the amount raised have been used for the purposes for which the funds wereraised. If not provide the details in respect of the amount involved and nature ofnoncompliance;

"No Not Applicable"

15. Whether the company has entered into any non-cash transactions with directors orpersons connected with him and if so whether the provisions of section 192 of CompaniesAct 2013 have been complied with;

"No Not Applicable"

16. Whether the company is required to be registered under section 45-IA of the ReserveBank of India Act 1934 and if so whether the registration has been obtained.

"No Not Applicable"

For O.P. Tulsyan & Co
Chartered Accountants
Firm Reg No 500028N
Place: Patna Partner
Date: 28th May 2019 Membership No 044173 of 1990

Annexure "B" to the Auditors' Report

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

We have audited the internal financial controls over financial reporting of AdityaConsumer Marketing Limited ("the Company") as of 31 March 2019 in conjunctionwith our audit of 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 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 ('ICAI'). 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 assets theprevention 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 on Auditing issued by ICAI and deemedto be prescribed under section 143(10) of the Companies Act 2013 to the extentapplicable to an 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 and plan and perform the audit to obtain reasonable assurance about whetheradequate 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 exists and testing and evaluating the designand operating effectiveness of internal control based on the assessed risk. The proceduresselected depend on the auditor's judgment 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

A company’s internal financial control over financial reporting is a processdesigned to provide reasonable assurance regarding the reliability of financial reportingand the preparation of financial statements for external purposes in accordance withgenerally accepted accounting principles. A company’s internal financial control overfinancial reporting includes those policies and procedures that (1) pertain to themaintenance of records that in reasonable detail accurately and fairly reflect thetransactions and dispositions of the assets of the company; (2) provide reasonableassurance that transactions are recorded as necessary to permit preparation of financialstatements in accordance with generally accepted accounting principles and that receiptsand expenditures of the company are being made only in accordance with authorizations 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 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 31 March 2019 based on theinternal control over financial reporting criteria established by the Company consideringthe essential components of internal control stated in the Guidance Note on Audit ofInternal Financial Controls Over Financial Reporting issued by the Institute of CharteredAccountants of India.

Place: Patna For O.P. Tulsyan & Co
Date: 28th May 2019 Chartered Accountants
Firm Reg No 500028N
Ca Sanjay Kumar Agarwal
Partner
Membership No 044173 of 1990