You are here » Home » Companies » Company Overview » C J Gelatine Products Ltd

C J Gelatine Products Ltd.

BSE: 507515 Sector: Industrials
NSE: N.A. ISIN Code: INE557D01015
BSE 00:00 | 12 Aug 17.25 0
(0.00%)
OPEN

17.25

HIGH

17.25

LOW

17.25

NSE 05:30 | 01 Jan C J Gelatine Products Ltd
OPEN 17.25
PREVIOUS CLOSE 17.25
VOLUME 93
52-Week high 25.60
52-Week low 14.80
P/E 20.06
Mkt Cap.(Rs cr) 8
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 17.25
CLOSE 17.25
VOLUME 93
52-Week high 25.60
52-Week low 14.80
P/E 20.06
Mkt Cap.(Rs cr) 8
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

C J Gelatine Products Ltd. (CJGELATINE) - Auditors Report

Company auditors report

To

The Members of

C.J. Gelatine Products Limited

Report on the Audit of the Standalone Financial Statements

We have audited the accompanying statement of quarterly and year to date financialresults of C.J. Gelatine Products Limited (the "Company") for the Quarterand year ended March 31 2021 ("Statement") attached herewith being submittedby the Company pursuant to the requirement of Regulation 33 of the SEBI (ListingObligations and Disclosure Requirements) Regulations 2015 as amended (the "ListingRegulations").

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

a) is presented in accordance with the requirements of the Listing Regulations in thisregard; and

b) gives a true and fair view in conformity with recognition and measurement principleslaid down in the Indian Accounting Standards under Section 133 of the Companies Act 2013(the "Act'") and other accounting principles generally accepted in India of thenet profit (including other comprehensive income) and other financial information for theyear ended March 31 2021.

Basis for Opinion

We conducted our audit of the financial statements in accordance with the Standards onAuditing (SAs) specified under section 143(10) of the Act. Our responsibilities underthose standards are further described in the auditor’s responsibilities for the auditof the Financial Statements section of our report. We are independent of the Company inaccordance with the Code of Ethics issued by the Institute of Chartered Accountants ofIndia ("ICAI") together with the ethical requirements that are relevant to ouraudit of the financial statements under the provisions of the act and the rules madethereunder and we have fulfilled our other ethical responsibilities in accordance withthese requirements and the ICAI’s Code of Ethics. We believe that the audit evidenceobtained by us is sufficient and appropriate to provide a basis for our audit opinion onthe financial statement.

Management’s Responsibility for the Financial Statements

The Company’s Board of Directors is responsible for the matters stated in section134(5) of the Act with respect to the preparation of these financial statements that givea true and fair view of the financial position financial performance changes in equityand cash flows of the Company in accordance with the Ind AS and other accountingprinciples generally accepted in India. This responsibility also includes maintenance ofadequate accounting records in accordance with the provisions of the Act for safeguardingthe assets of the Company and for preventing and detecting frauds and otherirregularities; selection and application of appropriate accounting policies; makingjudgments and estimates that are reasonable and prudent; and design implementation andmaintenance of adequate internal financial controls that were operating effectively forensuring the accuracy and completeness of the accounting records relevant to thepreparation and presentation of the financial statements that give a true and fair viewand are free from material misstatement whether due to fraud or error.

In preparing the financial statements management is responsible for assessing theCompany’s ability to continue as a going concern disclosing as applicable mattersrelated to going concern and using the going concern basis of accounting unless managementeither intends to liquidate the Company or to cease operations or has no realisticalternative but to do so. The Board of Directors are responsible for overseeing theCompany’s financial reporting process.

Auditor’s Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the standalonefinancial 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. Reasonableassurance is a high level of assurance but is not a guarantee that an audit conducted inaccordance with SAs will always detect a material misstatement when it exists.Misstatements can arise from fraud or error and are considered material if individuallyor in the aggregate they could reasonably be expected to influence the economic decisionsof users taken on the basis of these standalone financial statements. As part of an auditin accordance with SAs we exercise professional judgment and maintain professionalskepticism throughout the audit. We also: ? Identify and assess the risks of materialmisstatement of the standalone financial statements whether due to fraud or error designand perform audit procedures responsive to those risks and obtain audit evidence that issufficient and appropriate to provide a basis for our opinion. The risk of not detecting amaterial misstatement resulting from fraud is higher than for one resulting from error asfraud may involve collusion forgery intentional omissions misrepresentations or theoverride of internal control. ? Obtain an understanding of internal financial controlrelevant to the audit in order to design audit procedures that are appropriate in thecircumstances. Under section 143(3)(i) of the Act we are also responsible for expressingour opinion on whether the Company has adequate internal financial control system in placeand the operating effectiveness of such controls. ? Evaluate the appropriateness ofaccounting policies used and the reasonableness of accounting estimates and relateddisclosures made by the management. ? Evaluate the overall presentation structure andcontent of the financial statements including the disclosures and whether the financialstatements represent the underlying transactions and events in a manner that achieves fairpresentation. We also provide those charged with governance with a statement that we havecomplied with relevant ethical requirements regarding independence and to communicatewith them all relationships and other matters that may reasonably be thought to bear onour independence and where applicable related safeguards.

Other Matters

The Statement includes the results for the quarter ended March 31 2021 being thebalancing figure between the audited figures in respect of the full financial year endedMarch 31 2021 and the published unaudited year-to-date figures up to the end of thirdquarter of the current financial year which were subjected to audit review by us asrequired under the Listing Regulations

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor’s report) Order 2020 ( "theOrder") issued by the Central Government of India in terms of sub-section (11) ofsection 143 of the Act we give in the Annexure 1 a statement on the matters specified inparagraphs 3 and 4 of the Order.

2. As required 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 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 Statement of Profit & Loss Statement of Changes in Equityand Cash Flow Statement dealt with by this Report are in agreement with the books ofaccount;

d. In our opinion the aforesaid financial statements comply with the AccountingStandards specified under section 133 of the Act read with Companies (Indian AccountingStandards) Rules 2015 as amended;

e. On the basis of written representations received from the Directors as on March 312021 and taken on record by the Board of Directors none of the Directors is disqualifiedas on March 31 2021 from being appointed as a Director in terms of section 164(2) of theAct;

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 A". Our report expresses an unmodified opinion onthe adequacy and operating effectiveness of the Company’s internal financial controlsover financial reporting.

g. With respect to the other matters to be included in the Auditor’s Report inaccordance with the requirements of section 197(16) of the Act as amended: In our opinionand to the best of our information and according to the explanations given to us theremuneration paid by the Company to its directors during the year is in accordance withthe provisions of section 197 of the Act.

h. 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 as amended 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 on its financialposition in its financial statements.

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 Spark & Associates

Chartered Accountants

FRN: 005313C

CA Roopak Jain

Partner

(Membership No.: 410002)

Place: Bhopal

Date: June 26 2021

UDIN: 21410002AAAAIO7707

Annexure-A

To the Independent Auditor’s Report

(Referred to in Paragraph 2(f) of our report of even date)

1. Report on the Internal Financial Controls under Clause (i) of Sub-section 3of section 143 of the companies Act 2013 (The Act)

We have audited the internal financial controls over financial reporting of CJ GelatineProducts Limited (The Company) as of March 31ST 2021 in conjunction with ouraudit of the Ind AS Financial Statement of the Company for the year ended on that date.

2. Management’s Responsibility for the Internal Financial Controls

The Company’s Management is responsible for establishing and maintaining internalfinancial reporting criteria established by the company considering the essentialcomponents of internal controls stated in the Guidance Note on over Financial Reporting (the Guidance Note) issued by the Institute of Chartered Accountant of India (ICAI) . Theseresponsibilities include the design implementation and maintenance of adequate internalFinancial controls that were operating effectively for ensuring the orderly conduct of itsbusiness including adherence to the company’s policies the safeguarding of itsassets the prevention and detection of frauds and errors the accuracy and completeness ofthe accounting records and the timely preparation of reliable financial information asrequired under the Act.

3. Auditor’s Responsibility

Our responsibility is to express an opinion on these Company’s internal financialcontrols over financial statements based on our audit. We have taken into account theprovisions of the Act the accounting and auditing standards and matters which arerequired to be included in the audit report under the provisions of the Act and the Rulesmade there under. We conducted our audit in accordance with the Standards on Auditingissued by the Institute of Chartered Accountants of India as specified under Section143(10) of the Act. Those Standards require that we comply with ethical requirements andplan and perform the audit to obtain reasonable assurance about whether the financialstatements are free from material misstatement.

4. An audit involves performing procedures to obtain audit evidence about theamounts and disclosures in the financial statements. The procedures selected depend on theauditor’s judgment including the assessment of the risk of material misstatement ofthe financial statements whether due to fraud or error. In making those risk assessmentsthe auditor considers internal financial control relevant to the

Company’s preparation of the financial statements that give a true and fair viewin order to design audit procedures that are appropriate in the circumstances but not forthe purpose of expressing an opinion on whether the Company has in place an adequateinternal financial controls system over financial reporting and the effectiveness of suchcontrols. An audit also includes evaluating the appropriateness of accounting policiesused and the reasonableness of the accounting estimates made by the Company’sDirectors as well as evaluating the overall presentation of the financial statements.

5. We believe that the audit evidence we have obtained is sufficient andappropriate to provide a basis for our audit opinion on the financial statements.

6. 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 the maintenance of records that in reasonable detail accurately andfairly reflect the transaction and disposition s of the assets of the company

(2) provide the reasonable assurance that transaction are recorded as necessary topermit preparation of financial statements in accordance with generally acceptedaccounting principles and that receipts and expenditures of the company are being madeonly in accordance with authorization of management and directors of the company and

(3) provide reasonable assurance regarding prevention or timely detection ofunauthorized acquisition use or disposition of the company’s assets that could havea material effect on the financial statements.

7. Inherent Limitation 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 override of controls by theManagement 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.

8. 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 2021 based on theinternal control over financial reporting criteria established by the Company consideringthe essential components of internal control stated in the Guidance Note issued by theInstitute of Chartered Accountants of India.

For Spark & Associates

Chartered Accountants

FRN: 005313C

CA Roopak Jain

Partner

(Membership No.: 410002)

Place: Bhopal

Date: June 26 2021

UDIN: 21410002AAAAIO7707

ANNEXURE TO THE INDEPENDENT AUDITORS’ REPORT

(Issued under Companies (Auditor's Report) Order 2020)

Referred to in our Report of even date

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

? All Property Plant & Equipment have been physically verified by the managementduring the year. According to the information and explanations given to us no materialdiscrepancies were noticed on such verification.

? According to the information and explanations given to us the records examined by usand based on the examination of the conveyance deeds / registered sale deed provided tous we report that the title deeds comprising all the immovable properties of land andbuildings which are leasehold are held in the name of the Company as at the balance sheetdate. In respect of immovable properties of land that have been taken on lease anddisclosed as fixed assets in the standalone financial statements the lease agreements arein the name of the Company.

? The inventories have been physically verified by the Management during the year. Inour opinion the frequency of verification is reasonable. In our opinion the proceduresof verification of inventories followed by the Management are reasonable and adequate inrelation to the size of the Company and the nature of its business. The Company hasmaintained proper records of inventories. The discrepancies noticed on physicalverification of inventories as compared to book records were not material and the samehave been properly dealt with in the books of account.

? According to the information and explanations given to us the Company has notgranted any loans secured or unsecured to Companies firms or other parties listed inthe register maintained under Section 189 of the Companies Act 2013. Accordingly theprovisions of clause 3(iii)(a) and (b) of the Order are not applicable to the Company andhence not commented upon.

? In our opinion and according to the information and explanations given to us theCompany has not defaulted in repayment of loans & borrowing to the financialinstitution or bank.

? 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.

? The Company has not accepted deposits during the year and does not have any unclaimeddeposits as at March 31 2021 and therefore the provisions of the clause 3 (v) of theOrder are not applicable to the Company.

? The maintenance of cost records has not been specified by the Central Governmentunder section 148(1) of the Companies Act 2013 for the business activities carried out bythe Company. Thus reporting under clause 3(vi) of the order is not applicable to theCompany.

? 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

Provident Fund Employees’ State Insurance Income Tax Goods and Service TaxCustoms Duty Value added tax Cess and other material statutory dues applicable to itwith the appropriate authorities.

b) There were no undisputed amounts payable in respect of Provident FundEmployees’ State Insurance Income Tax Goods and Service Tax Customs Duty Cess andother material statutory dues in arrears as at March 31 2020 for a period of more thansix months from the date they became payable.

? In our opinion and according to the information and explanations given to us thecompany has disclosed all the transaction properly in the books of account during the yearand there is no transaction which has not been recorded in the books of accounts.

? In our opinion and according to the information and explanations given to us theCompany has not defaulted in repayment of dues to its bankers. The Company did not haveany outstanding dues to any financial institution or debentures holders during the year.

? During the year the Company has not raised money by way of initial public offer orfurther public offer (including debt instruments)

? During the year the Company has not made any preferential allotment or privateplacement of shares or fully or partly paid convertible debentures and hence reportingunder clause 3 (xiv) of the Order is not applicable to the Company.

? 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.

? No report under sub-Section (12) of Section 143 of the Companies Act has been filedby the auditors in Form ADT-4 as prescribed under Rule 13 of Companies (Audit andAuditors) Rules 2014 with the Central Government.

? In our opinion and according to the information and explanations given to us theCompany is not a Nidhi Company.

? In our opinion and according to the information and explanations given to us theCompany 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 financial statements as required by the applicableaccounting standards.

? In our opinion Company has an adequate Internal Audit System in accordance with thesize of the company and nature of its business. We have considered Internal AuditorsReport while performing Audit procedures.

? According to the information and explanations given to us and based on ourexamination of the records the company has not entered into non- cash transactions withdirectors or persons connected with him & the provisions of section 192 of CompaniesAct have been complied with.

? The company is not required to be registered under Section 45-IA of the RBI Act1934. Accordingly the provisions of clause 3(xvi) of the Order are not applicable to theCompany. ? The Company has not incurred cash losses in the Financial Year and in theimmediately preceding Financial Year.

? There has not been any resignation of the statutory auditors during the year in theCompany.

? In our opinion and according to the information and explanations given to us nomaterial uncertainty exists as on the date of the audit report that company is capable ofmeeting its liabilities existing at the date of balance sheet as and when they fall duewithin a period of one year from the balance sheet date.

? There is no applicability of Corporate Social responsibility as per Section 135Hence the company has not transferred unspent amount to a Fund specified in Schedule VIIto the Companies Act within a period of six months of the expiry of the financial year incompliance with second proviso to sub-section (5) of section 135 of the Companies Act.

? There has not been any Holding/ Subsidiary /Associate to the company Hence there hasbeen no qualifications or adverse remarks by the Auditors to the CARO Report.

For Spark & Associates

Chartered Accountants

FRN: 005313C

CA Roopak Jain

Partner

(Membership No.: 410002)

Place: Bhopal

Date: June 26 2021

UDIN: 21410002AAAAIO7707

.