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Anuh Pharma Ltd.

BSE: 506260 Sector: Health care
NSE: N.A. ISIN Code: INE489G01022
BSE 00:00 | 27 May 93.45 -2.95
(-3.06%)
OPEN

97.80

HIGH

97.80

LOW

90.00

NSE 05:30 | 01 Jan Anuh Pharma Ltd
OPEN 97.80
PREVIOUS CLOSE 96.40
VOLUME 25109
52-Week high 154.90
52-Week low 84.60
P/E 15.32
Mkt Cap.(Rs cr) 468
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 97.80
CLOSE 96.40
VOLUME 25109
52-Week high 154.90
52-Week low 84.60
P/E 15.32
Mkt Cap.(Rs cr) 468
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Anuh Pharma Ltd. (ANUHPHARMA) - Auditors Report

Company auditors report

TO THE MEMBERS OF ANUH PHARMA LIMITED

Report on the audit of the Financial Statements

Opinion

We have audited the accompanying financial statements of Anuh PharmaLimited ('the Company') which comprise the balance sheet as at 31st March2021 the statement of profit and loss (including other comprehensive income) thestatement of cash flows and the statement of changes in equity for the year then ended anda summary of the significant accounting policies and other explanatory information.

In our opinion and to the best of our information and according to theexplanations given to us the aforesaid financial statements give the information requiredby the Act in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India of the state of affairs of the Companyas at 31st March 2021 and its profit total comprehensive income the changesin equity and its cash flows for the year ended on that date.

Basis for Opinion

We conducted our audit of the financial statements in accordance withthe Standards on Auditing (SAs) as specified under section 143(10) of the Act. Ourresponsibilities under those Standards are further described in the 'Auditor'sResponsibilities for the Audit of the Financial Statements' section of our report. We areindependent of the Company in accordance with the 'Code of Ethics' issued by the Instituteof Chartered Accountants of India together with the ethical requirements that are relevantto our audit of the financial statements under the provisions of the Act and the Rulesthereunder and we have fulfilled our other ethical responsibilities in accordance withthese requirements and the Code of Ethics. We believe that the audit evidence we haveobtained is sufficient and appropriate to provide a basis for our audit opinion on thefinancial statements.

Key Audit Matters

Key audit matters are those matters that in our professional judgmentwere of most significance in our audit of the financial statements for the financial yearended 31st March 2021. These matters were addressed in the context of ouraudit of the financial statements as a whole and in forming our opinion thereon and wedo not provide a separate opinion on these matters.

Revenue recognition

The Company's performance is dependent on proper accounting of Revenueand is therefore susceptible to misstatement. Cut-off is the key assertion in so far asrevenue recognition is concerned since an inappropriate cut-off can result in materialmisstatement of results for the year.

Auditor's response

Our audit procedures with regard to revenue recognition includedtesting controls automated and manual dispatches/ deliveries inventory reconciliationsand assessing the recoverability of trade receivable balances substantive testing forcutoffs and analytical review procedures.

Other Information

The Company's management and Board of Directors are responsible for theother information. The other information comprises the information included in theCompany's annual report but does not include the financial statements and our auditors'report thereon.

Our opinion on the financial statements does not cover the otherinformation and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements ourresponsibility is to read the other information and in doing so consider whether theother information is materially inconsistent with the financial statements or ourknowledge obtained in the audit or otherwise appears to be materially misstated. If basedon the work we have performed we conclude that there is a material misstatement of thisother information we are required to report that fact. We have nothing to report in thisregard.

Management's Responsibility for the Financial Statements

The Company's management and Board of Directors are responsible for thematters stated in Section 134(5) of the Act with respect to the preparation of thesefinancial statements that give a true and fair view of the state of affairs profit / loss(including other comprehensive income) changes in equity and cash flows of the Company inaccordance with the accounting principles generally accepted in India including theIndian Accounting Standards (Ind AS) specified under Section 133 of the Act. 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.

In preparing the financial statements management and Board ofDirectors are responsible for assessing the Company's ability to continue as a goingconcern disclosing as applicable matters related to going concern and using the goingconcern basis of accounting unless management either intends to liquidate the Company orto cease operations or has no realistic alternative but to do so.

Board of Directors are also responsible for overseeing the Company'sfinancial reporting process.

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether thefinancial statements as a whole are free from material misstatement whether due to fraudor error and to issue an auditor's report that includes our opinion. Reasonable assuranceis a high level of assurance but is not a guarantee that an audit conducted in accordancewith SAs will always detect a material misstatement when it exists. Misstatements canarise from fraud or error and are considered material if individually or in theaggregate they could reasonably be expected to influence the economic decisions of userstaken on the basis of these financial statements.

As part of an audit in accordance with SAs we exercise professionaljudgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of thefinancial statements whether due to fraud or error design and perform audit proceduresresponsive to those risks and obtain audit evidence that is sufficient and appropriate toprovide a basis for our opinion. The risk of not detecting a material misstatementresulting from fraud is higher than for one resulting from error as fraud may involvecollusion forgery intentional omissions misrepresentations or the override of internalcontrol.

• Obtain an understanding of internal control relevant to theaudit in order to design audit procedures that are appropriate in the circumstances. UnderSection 143(3)(i) of the Act we are also responsible for expressing our opinion onwhether the company has adequate internal financial controls with reference to financialstatements in place and the operating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and thereasonableness of accounting estimates and related disclosures made by management.

• Conclude on the appropriateness of management's use of the goingconcern basis of accounting and based on the audit evidence obtained whether a materialuncertainty exists related to events or conditions that may cast significant doubt on theCompany's ability to continue as a going concern. If we conclude that a materialuncertainty exists we are required to draw attention in our auditor's report to therelated disclosures in the financial statements or if such disclosures are inadequate tomodify our opinion. Our conclusions are based on the audit evidence obtained up to thedate of our auditors' report. However future events or conditions may cause the Companyto cease to continue as a going concern.

• Evaluate the overall presentation structure and content of thefinancial statements including the disclosures and whether the financial statementsrepresent the underlying transactions and events in a manner that achieves fairpresentation.

• We communicate with those charged with governance regardingamong other matters the planned scope and timing of the audit and significant auditfindings including any significant deficiencies in internal control that we identifyduring our audit.

We also provide those charged with governance with a statement that wehave complied with relevant ethical requirements regarding independence and tocommunicate with them all relationships and other matters that may reasonably be thoughtto bear on our independence and where applicable related safeguards.

From the matters communicated with those charged with governance wedetermine those matters that were of most significance in the audit of the financialstatements of the current period and are therefore the key audit matters. We describethese matters in our auditors' report unless law or regulation precludes public disclosureabout the matter or when in extremely rare circumstances we determine that a mattershould not be communicated in our report because the adverse consequences of doing sowould reasonably be expected to outweigh the public interest benefits of suchcommunication.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditors' Report) Order 2016("the Order") issued by the Central Government of India in terms of Section143(11) of the Act we give in "Annexure A" a statement on the matters specifiedin paragraphs 3 and 4 of the Order to the extent applicable.

(A) As required by Section 143(3) of the Act we report that:

(a) We have sought and obtained all the information and explanationswhich to the best of our knowledge and belief were necessary for the purposes of ouraudit.

(b) In our opinion proper books of account as required by law havebeen kept by the Company so far as it appears from our examination of those books.

(c) The Balance Sheet the Statement of Profit and Loss (includingother comprehensive income) the Statement of Changes in Equity and the Statement of CashFlows dealt with by this Report are in agreement with the books of account.

(d) In our opinion the aforesaid financial statements comply with theInd AS specified under Section 133 of the Act.

(e) On the basis of the written representations received from thedirectors as on 31st March 2021 taken on record by the Board of Directorsnone of the directors is disqualified as on 31st March 2021 from beingappointed as a director in terms of Section 164(2) of the Act.

(f) With respect to the adequacy of the internal financial controlswith reference to financial statements of the Company and the operating effectiveness ofsuch controls refer to our separate Report in "Annexure B".

(g) With respect to the other matters to be included in the Auditor'sReport In accordance with the requirements of section 197(16) of the Act as amended:

In our opinion and to the best of our information and according to theexplanations given to us the remuneration paid by the Company to its directors during theyear is in accordance with the provisions of section 197 of the Act.

(h) With respect to the other matters to be included in the Auditors'Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 inour opinion and to the best of our information and according to the explanations given tous:

i. The Company has disclosed the impact of pending litigations as at 31stMarch 2021 on its financial position in its financial statements;

ii. The Company did not have any long-term contracts includingderivative contracts for which there were any material foreseeable losses; and

iii. There has been no delay in transferring amounts required to betransferred to the Investor Education and Protection Fund by the Company.

For JAYANTILAL THAKKAR & CO
CHARTERED ACCOUNTANTS
(FIRM REG. NO. 104133W)
VIRAL A. MERCHANT
PARTNER
MEMBERSHIP NO. 116279
PLACE: Mumbai UDIN: 21116279AAAACB7683
DATE : 21st May 2021

ANNEXURE ‘A' TO THE INDEPENDENT AUDITOR'S REPORT

The Annexure referred to in Independent Auditors' Report to the membersof the Company on the financial statements for the year ended 31st March 2021we report that

i. a. The Company has maintained proper records showing fullparticulars including quantitative details and situation of fixed assets.

b. As explained to us physical verification of the fixed assets wasconducted by the management during the year. In our opinion the frequency of physicalverification is reasonable having regard to the size of the Company and the nature of itsassets. No material discrepancies were noticed on such physical verification.

c. According to the information and explanations given to us and on thebasis of our examination of the records of the Company the title deeds of immovableproperties are held in the name of the Company.

ii. According to the information and explanations given to us thephysical verification of inventory has been conducted at reasonable intervals by themanagement. In our opinion the discrepancies noticed on verification between the physicalstocks and the book records were not material.

iii. In our opinion and according to information and explanations givento us the Company has not granted any loans secured or unsecured to any companiesfirms Limited Liability Partnerships or other parties as covered in the registermaintained under section 189 of the Act. Accordingly the provisions of clause 3(iii) (a)(b) and (c) of the order are not applicable.

iv. In our opinion and according to the information and explanationsgiven to us the Company has complied with the provisions of section 185 and 186 of theAct with respect to the loans investments guarantees and security made.

v. In our opinion and according to the information and explanationsgiven to us the Company has not accepted any deposit within the meaning of Section 73 to76 of the Act and the rules framed thereunder.

vi. We have broadly reviewed the books of accounts maintained by theCompany in respect of products where pursuant to the Rules made by the CentralGovernment the maintenance of cost records has been prescribed under sub-section (1) ofsection 148 of the Act and are of the opinion that prima facie the prescribed accountsand records have been made and maintained. We have not however made a detailedexamination of the records with a view to determine whether they are accurate or complete.

vii. a. According to the records of the company and the information andexplanations given to us the Company is generally regular in depositing with appropriateauthorities undisputed statutory dues including Provident Fund Employees' StateInsurance Income tax Sales tax Service tax Custom Duty Excise Duty Value added taxGoods and Services Tax Cess and other statutory dues applicable to it. There are noundisputed statutory dues as referred to above as at 31st March 2021outstanding for a period of more than six months from the date on which they becamepayable.

b. According to the information and explanations given to us the duesas on March 31 2021 in respect of Sales tax and Income Tax that have not been depositedwith the appropriate authorities on account of dispute and the forum where the disputesare pending are given below:

Name of Statute Nature of Dues Amount ('in lakhs) Period to which the Amount Relates Forum where dispute is pending
Bombay Sales Tax Act 1959 Sales Tax (Including Interest and Penalty) 12.66 1991-1992 Bombay high court
3.97 1992-1993 Bombay high court
Central Sales Tax Act 1956 Sales Tax (Including Interest and Penalty) 6.48 1991-1992 Bombay high court
3.92 1992-1993 Bombay high court
Total 27.03
Income Tax Act1961 Income Tax 27.78 AY 2018-19 CIT (Appeals)
Total 27.78

viii. Based on our audit procedures and according to the informationand explanations given by the management the Company has not defaulted in repayment ofloans from bank. Further as per the records of the Company during the year there were noloans or borrowings from any financial institution government or debenture holders.

ix. According to the information and explanation given to us and basedon our examination of the records of the Company the Company did not raise any money byway of initial public offer or further public offer (including debt instrument) and termloans during the year. Accordingly paragraph 3(ix) of the Order is not applicable.

x. Based upon the audit procedures performed and to the best of ourknowledge and belief and according to the information and explanations given to us nofraud by the company or any fraud on the Company by its officers or employees has beennoticed or reported during the year.

xi. According to the information and explanation given to us and basedon our examination of the records of the Company the company has paid/provided formanagerial remuneration in accordance with the requisite approvals mandated by theprovisions of section 197 read with Schedule V to the Act.

xii. In our opinion and according to the information and explanationsgiven to us the Company is not a Nidhi Company. Accordingly paragraph 3(xii) of theOrder is not applicable.

xiii. According to the information and explanation given to us andbased on our examination of the records of the Company transactions with the relatedparties are in compliance with section 177 and 188 of the Act where applicable and detailsof such transactions have been disclosed in the financial statements as required by theapplicable accounting standards.

xiv. According to the information and explanation given to us and basedon our examination of the records of the Company the Company has not made anypreferential allotment or private placement of shares or fully or partly convertibledebentures during the year.

xv. According to the information and explanation given to us and basedon our examination of the records of the Company the Company has not entered intonon-cash transactions with directors or persons connected with him/her. Accordinglyparagraph 3(xv) of the Order is not applicable.

xvi. The Company is not required to be registered under section 45-IAof the Reserve Bank of India Act 1934.

For JAYANTILAL THAKKAR & CO
CHARTERED ACCOUNTANTS
(FIRM REG. NO. 104133W)
VIRAL A. MERCHANT
PARTNER
MEMBERSHIP NO. 116279
PLACE: Mumbai UDIN: 21116279AAAACB7683
DATE : 21s* May 2021

ANNEXURE - B TO THE INDEPENDENT AUDITORS' REPORT

Report on the Internal Financial Controls under Clause (i) ofSub-section 3 of Section 143 of the Companies Act 2013 ("the Act")

We have audited the internal financial controls over financialreporting of Anuh Pharma Limited ("the Company") as of 31st March2021 in conjunction with our audit of the financial statements of the Company for the yearended on that date.

Management's Responsibility for Internal Financial Controls

The Company's management is responsible for establishing andmaintaining internal financial controls based on the internal control over financialreporting criteria established by the Company considering the essential components ofinternal control stated in the Guidance Note on Audit of Internal Financial Controls overFinancial Reporting issued by the Institute of Chartered Accountants of India ('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 internalfinancial controls over financial reporting based on our audit. We conducted our audit inaccordance with the Guidance Note on Audit of Internal Financial Controls over FinancialReporting (the "Guidance Note") and the Standards on Auditing issued by ICAIand deemed to be prescribed under section 143(10) of the Companies Act 2013 to theextent applicable to an audit of internal financial controls both applicable to an auditof Internal Financial Controls and both issued by the Institute of Chartered Accountantsof India. 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 aboutthe adequacy of the internal financial controls system over financial reporting and theiroperating effectiveness. Our audit of internal financial controls over financial reportingincluded obtaining an understanding of internal financial controls over financialreporting assessing the risk that a material weakness exists and testing and evaluatingthe design and operating effectiveness of internal control based on the assessed risk. Theprocedures selected depend on the auditor's judgment including the assessment of therisks of material misstatement of the financial statements whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient andappropriate to provide a basis for our audit opinion on the Company's internal financialcontrols system over financial reporting.

Meaning of Internal Financial Controls over Financial Reporting

A company's internal financial control over financial reporting is aprocess designed to provide reasonable assurance regarding the reliability of financialreporting and the preparation of financial statements for external purposes in accordancewith generally 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 authorisations ofmanagement and directors of the company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorised 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 FinancialReporting

Because of the inherent limitations of internal financial controls overfinancial reporting including the possibility of collusion or improper managementoverride of controls material misstatements due to error or fraud may occur and not bedetected. Also projections of any evaluation of the internal financial controls overfinancial reporting to future periods are subject to the risk that the internal financialcontrol over financial reporting may become inadequate because of changes in conditionsor that the degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion to the best of our information and according to theexplanations given to us the Company has in all material respects an internal financialcontrols with reference to financial statements as at 31st March 2021 basedon the internal control over 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 ofChartered Accountants of India.

For JAYANTILAL THAKKAR & CO
CHARTERED ACCOUNTANTS
(FIRM REG. NO. 104133W)
VIRAL A. MERCHANT
PARTNER
MEMBERSHIP NO. 116279
PLACE: Mumbai UDIN: 21116279AAAACB7683
DATE : 21st May 2021

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