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Anmol India Ltd.

BSE: 542437 Sector: Others
NSE: N.A. ISIN Code: INE02AR01019
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NSE 05:30 | 01 Jan Anmol India Ltd
OPEN 39.00
PREVIOUS CLOSE 39.00
VOLUME 16000
52-Week high 39.90
52-Week low 16.65
P/E 9.01
Mkt Cap.(Rs cr) 40
Buy Price 34.05
Buy Qty 4000.00
Sell Price 41.90
Sell Qty 4000.00
OPEN 39.00
CLOSE 39.00
VOLUME 16000
52-Week high 39.90
52-Week low 16.65
P/E 9.01
Mkt Cap.(Rs cr) 40
Buy Price 34.05
Buy Qty 4000.00
Sell Price 41.90
Sell Qty 4000.00

Anmol India Ltd. (ANMOLINDIA) - Auditors Report

Company auditors report

To the Members of ANMOL (INDIA) LTD

Report on the Standalone financial statements

We have audited the accompanying Standalone AS financial statements of ANMOL (INDIA)LTD. ("the company") which comprise the Balance Sheet as at March 31 2019the Statement of Profit and Loss and Cash Flow Statement for the year then ended and asummary of significant accounting policies and other explanatory information (herein afterreferred to as "Standalone AS Financial Statements").

Management's Responsibility for the Standalone Financial Statements

The Management and board of directors of the company are responsible for the mattersstated in Section

134(5) of the Companies Act 2013 (‘the act') with respect to the preparation ofthese standalone AS 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.

This responsibility includes maintenance of adequate accounting records in accordancewith the provisions of the Act for safeguarding the assets of the Company and forpreventing and detecting frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates that are reasonable andprudent; design implementation and maintenance of adequate internal financial controlsthat are operating effectively for ensuring the accuracy and completeness of theaccounting records relevant to the preparation and presentation of the standalone ASfinancial 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 standalone AS 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 and the Order issued undersection 143(11) of the Act.

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 AS financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the standalone AS financial statements. The procedures selected depend onthe auditor's judgment including the assessment of the risks of material misstatement ofthe standalone AS financial 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 standalone AS financial statements that givea true and fair view in order to design audit procedures that are appropriate in thecircumstances but not for the purpose of expressing an opinion on whether the Company hasin place an adequate internal financial controls system over financial reporting and theoperating effectiveness of such controls An audit also includes evaluating theappropriateness of accounting policies used and the reasonableness of the accountingestimates made by the Company's management and Board of Directors as well as evaluatingthe overall presentation of the standalone AS financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for audit opinion.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the standalone AS 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 of the financial position of theCompany as at 31 March 2019 and its financial performance:

a) In the case of the Balance Sheet of the state of affairs of the Company as at March31 2019; b) In the case of the Statement of Profit and Loss of the Profit for the yearended on that date; and c) In the case of the Cash Flow Statement of the cash flows forthe year ended on that date; and

Emphasis of Matter

Notwithstanding anything contained in the standalone AS financial statements of ANMOL(INDIA) LTD. as on 31.03.2019 affects the true & fair opinion over the samebut following is a list of matters considered significant for the users of the standaloneAS financial statements adequately disclosed by the management:

1. No balance confirmation details and comprehensive ageing was made available to usof Trade receivables Trade payables Loans Advances and other recoverable.

2. Stock is subject to confirmation from management. We have not physically verifiedthe same.

3. The financial statements for the year ended 31 March 2018 was carried out andreported by Vikram Maheshwari & Associates (Chartered Accountants) whose report hasbeen furnished to us by the management and which has been relied upon by us for thepurpose of our audit.

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 section143 of the Act we give inthe Annexure A statement on the matters Specified in paragraphs 3 and 4 of the Order. Asrequired by section 143(3) of the Act 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 purpose of our audit; b) In our opinionproper books of account as required by law have been kept by the Company so far as appearsfrom our examination of those books. c) The Balance Sheet Statement of Profit and lossand the Statement of Cash Flow dealt with by this report are in agreement with the booksof account. d) In our opinion the aforesaid standalone AS financial statements complywith the applicable Accounting Standards specified under Section 133 of the Act. e) On thebasis of written representations received from the directors as on March 31 2019 andtaken on record by the Board of Directors none of the directors is disqualified as onMarch 31 2019 from being appointed as a director in terms of Section 164(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 refer to ourseparate report in "Annexure "B"; and g) In our opinion and to the best ofour information and according to the explanations given to us we report as under withrespect to other matters to be included in the Auditor's Report in accordance with

Rule 11 of the Companies (Audit and Auditors) Rules 2014:

i. The company has disclosed the impact of pending litigations on its financialposition in its standalone AS financial statements

ii. The Company did not have any long-term contracts including derivative contracts; assuch the question of commenting on any material foreseeable losses thereon does not arise.

iii. There has not been an occasion in case of the Company during the year under reportto transfer any sums to the Investor Education and Protection Fund. The question of delayin transferring such sums does not arise.

for K R AGGARWAL & ASSOCIATES

Chartered Accountants

ICAI Firm Registration No.: 030088N
Kanika
Place: Ludhiana

Partner

Date: 30.05.2019 Membership No.: 539337

ANNEXURE - A TO THE INDEPENDENT AUDITORS' REPORT

On the basis of such checks as we considered appropriate and according to theinformation and explanations given to us during the course of our audit we report that:

I. In respect of Fixed Assets:

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

b) According to the information and explanation given to us the company has a regularprogram of physical verification of fixed assets by which all fixed assets are verified.However no such report of physical verification of fixed assets done by the company hasbeen provided to us.

c) According to the information and explanations given to us and on the basis of ourexamination of records of the Company the company has no immovable properties.

II. In respect of Inventories:

a) According to information and explanations given to us the inventories have beenphysical verified during the year by the management. In our opinion the frequency ofverification is reasonable.

b) In our opinion and according to the information and explanations given to us theprocedures of physical verification of inventories followed by the management arereasonable and adequate in relation to the size of the company and the nature of itsbusiness. However no such report was made available to us.

c) The company has maintained proper records of inventory. As explained to us thediscrepancies noticed on physical verification were not material. However thediscrepancies noticed have been properly dealt with in the books of account.

III. In respect of loan given by the Company:

According to the information and explanations given to us the Company has not grantedany loans secured or unsecured to companies firms Limited Liability Partnerships orother parties covered in the register maintained under section 189 of the Companies Act2013. Accordingly the provisions of clause 3(iii)(a) (b) and (c) of the Order are notapplicable to the Company and hence not commented upon.

IV. In respect of loan to director and investment by the Company:

In our opinion and according to the information and explanations given to us theCompany has complied with the provisions of Sections 185 and 186 of the Act in respect ofgrant of loans making investments and providing guarantees and securities as applicable.

V. In our opinion and according to the information and explanations given to usthe company has not accepted any deposit from the public covered under Section 73 to 76 ofthe Companies Act 2013. Therefore the provisions of the clause 3 (v) of the Order arenot applicable to the Company.

VI. The company is not required to maintain cost records as per Section 148(1) ofthe Companies Act 2013.

VII. In respect of Statutory Dues:

According to the information and explanations given to us and based on the records ofthe company examined by us the company is regular in depositing the undisputed statutorydues including Income-tax Sales-tax Service Tax Custom Dutyand other materialstatutory dues as applicable with the appropriate authorities in India.

There were no undisputed amounts payable in respect of provident fund employees' stateinsurance sales-tax income tax service tax goods and service tax custom duty exciseduty value added tax cess and any other material statutory dues in arrears as at March31 2019 for a period of more than six months from the date they become payable.

VIII. In our opinion on the basis of audit procedures and according to theinformation and explanations given to us the Company has not defaulted in repayment ofloan or borrowing to any banks and financial institutions as at Balance Sheet date.

As per information and explanation given to us the Company had not taken any loan orborrowings from the government. Further the Company had not issued any debenture.

IX. The Company has raised money by way of initial public offer for Rs 102300000(Ten Crores Twenty-Three Lakhs only including Security Premium) during the year. TheCompany has not availed any Term Loan during the year.

X. To the best of our knowledge and according to the information and explanationsgiven to us no fraud by the Company or no material fraud on the Company by its officersor employees has been noticed or reported during the year.

XI. In our opinion and according to the information and explanations given to usthe Company has paid/provided managerial remuneration in accordance with the requisiteapprovals mandated by the provisions of section 197 read with Schedule V to the Act.

XII. In our opinion and according to the information and explanations given to usthe Company is not a Nidhi company. Accordingly paragraph 3(xii) of the Order is notapplicable.

XIII. In our opinion and according to the information and explanations given to usthe Company is in compliance with Section 177 and 188 of the Companies Act 2013 whereapplicable for all transactions with the related parties and the details of related partytransactions have been disclosed in the standalone financial statements as required by theapplicable accounting standards.

XIV. During the year the Company has made preferential allotment or privateplacement of shares for Rs. 48552000/- (including share premium) by way of issue ofbonus share.

XV. In our opinion and according to the information and explanations given to usduring the year the Company has not entered into any non-cash transactions with itsDirectors or persons connected to its directors and hence provisions of section 192 of theCompanies Act 2013 are not applicable to the Company.

XVI. The Company is not required to be registered under section 45-IA of theReserve Bank of India Act 1934.

for K R AGGARWAL & ASSOCIATES

Chartered Accountants

ICAI Firm Registration No.: 030088N
Kanika
Place: Ludhiana

Partner

Date : 30.05.2019 Membership No.: 539337

Annexure B to Independent Auditors' Report

(Referred to in our report of even date)

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 ANMOL(INDIA) LTD.as of 31st March 2019 in conjunction with our audit of the standalone ASfinancial 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 Reporting issued by the Institute of Chartered Accountants ofIndia (‘ICAI').

These responsibilities include the design implementation and maintenance of adequateinternal financial controls that were operating effectively for ensuring the orderly andefficient conduct of its business including adherence to company's policies thesafeguarding of its assets the prevention and detection of frauds and errors theaccuracy and completeness of the accounting records and the timely preparation ofreliable financial information as required 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 ethical requirementsand plan and perform the audit to obtain reasonable assurance about whether adequateinternal financial controls over financial reporting was established and maintained and ifsuch 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 standalone AS financial statements whether due to fraud orerror.

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 process designedto provide reasonable assurance regarding the reliability of financial reporting and thepreparation of standalone AS 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 standaloneAS financial statements in accordance with generally accepted accounting principles andthat receipts and expenditures of the company are being made only in accordance withAuthorizations of management and directors of the company; and (3) provide reasonableAssurance regarding prevention or timely detection of unauthorized acquisition use ordisposition of the company's assets that could have a material effect on the standalone ASfinancial 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 to the best of our information and according to the explanations givento us the company has in all material respects an adequate internal financial controlssystem over financial reporting and such internal financial controls over financialreporting were operating effectively as at 31st March 2019 based on the internal controlover financial reporting criteria established by the company considering the essentialcomponents of internal control stated in the Guidance Note on Audit of Internal FinancialControls Over Financial Reporting issued by the Institute of Chartered Accountants ofIndia.

for K R AGGARWAL & ASSOCIATES

Chartered Accountants

ICAI Firm Registration No.: 030088N
Kanika
Place: Ludhiana

Partner

Date: 30.05.2019 Membership No.: 539337

.