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Celestial Biolabs Ltd.

BSE: 532871 Sector: Health care
NSE: CELESTIAL ISIN Code: INE221I01017
BSE 00:00 | 26 Mar 5.93 -0.15
(-2.47%)
OPEN

6.30

HIGH

6.30

LOW

5.85

NSE 00:00 | 26 Mar 6.00 0.05
(0.84%)
OPEN

6.00

HIGH

6.20

LOW

5.95

OPEN 6.30
PREVIOUS CLOSE 6.08
VOLUME 5370
52-Week high 21.50
52-Week low 4.33
P/E 3.85
Mkt Cap.(Rs cr) 13
Buy Price 5.85
Buy Qty 900.00
Sell Price 6.10
Sell Qty 300.00
OPEN 6.30
CLOSE 6.08
VOLUME 5370
52-Week high 21.50
52-Week low 4.33
P/E 3.85
Mkt Cap.(Rs cr) 13
Buy Price 5.85
Buy Qty 900.00
Sell Price 6.10
Sell Qty 300.00

Celestial Biolabs Ltd. (CELESTIAL) - Auditors Report

Company auditors report

To

The Member s of

M/s Celestial Biolabs Limited

Report on the Standalone Ind AS Financial Statements

We have audited the accompanying Standalone Ind AS financial statements of M/sCelestial Biolabs Limited ("the Company") which comprise the Balance Sheetas at March 31 2018 and the Statement of Profit and Loss (including other comprehensiveincome) statement of Cash Flows and statement of changes in equity for the year endedand a summary of significant accounting policies and other explanatory information (hereinafter referred to as "Standalone Ind AS financial statements").

Management Responsibility for the Standalone Financial Statements

The Company s Board of Directors is responsible for the matters stated in Section134(5) of the Companies Act2013 ("the Act") with respect to the preparation andpresentation of these standalone Ind AS financial statements that give a true and fairview of the financial position financial performance including other comprehensiveincome cash flows and changes in equity of the Company in accordance with the accountingprinciples generally accepted in India including the Indian Accounting Standard (Ind AS)prescribed under section 133 of the Act read with relevant rules thereunder.

This responsibility also includes the maintenance of adequate records in accordancewith the provisions of the Act for safeguarding the assets of the Company and forpreventing and detecting funds and other irregularities; selection and application ofappropriate accounting policies ; making judgements and estimates that are reasonable andprudent; and design implementation and maintenance of adequate internal financialcontrols that were operating effectively for ensuring the accuracy and completeness ofthe accounting records relevant to the preparation and presentation of the Standalone IndAS 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 Ind AS financialstatements based on our audit.

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 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 Ind AS financial statements are free from material misstatement.

An audit involes performing procedures to obtain audit evidence about the amounts anddisclosures in the standalone Ind AS financial statements. The procedures selected dependon the auditor s judgement including the assessment of the risks of material misstatementof the standalone Ind AS financial statements whether due or fraud or error. In makingthose risk assessments the auditor considers internal financial control relevant to theCompany s preparation of the Standalone Ind AS financial Statements that give a true andfair view in order to design audit procedures that are appropriate in the circumstances.An audit also includes evaluating the appropriateness of accounting policies used and thereasonableness of the accounting estimates made by the Company s directors as well asevaluating the overall presentation of the standalone Ind AS 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 Ind AS financial statements.

Opinion

In our opinion and to the best of our information and accordingly to the explanationsgiven to us the aforesaid standalone Ind AS financial statements give the informationrequired by the Act in the manner so required and give a true and fair view in conformitywith the accounting principles generally accepted in India including the Ind AS of thefinancial position of the Company as at March312018 its financial performance includingother comprehensive income its cash flows and changes in equity for the year ended onthat date.

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 sub-section (11) of section 143 ofthe Act We give in the Annexure A a statement on the matters specified in paragraphs 3and 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 the statement of Profit and Loss Cash flow statement and thestatement of changes in equity dealt with by this Report are in agreement with the booksof account.

d) In our opinion the aforesaid standalone Ind AS financial statements comply with theAccounting Standards specified under section 133 of the Act read with relevant ruleissued thereunder.

e) on the basis of written representations received from the directors as on March 312018 taken on record by the Board of Directors none of the directors is disqualified ason March 31 2018 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 B"; and

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 lossess;

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

For K KULASEKHAR & Co.

Chartered Accountants

Firm Registration No.011536S

K Kulasekhar

Proprietor

Membership No.218278

Place : Hyderabad

Date : 31-05-2018

ANNEXURE A TO AUDITOR'S REPORT

The Annexure referred to in Independent Auditor s Report to the members of the Companyon the Standalone Ind AS financial statements for the year ended 31 March2018 we reportthat:

i)(a) The Company has generally maintained proper records showing full particularsincluding quantitative details and situation of its fixed assets.

(b) Fixed Assets have been physically verified by the Management during the year and nomaterial discrepancies were identified on such verification.

(c) According to the information and explanations given to us the title deeds ofimmovable properties are held in the name of the Company.

ii) According to the explanation and information provided by the company. The inventoryhas been physically verified by the management during the year at reasonable intervals.

iii) According to the information and explanations given to us and based on ourexamination of the records of the Company that the Company has not granted any loans secured or unsecured to Companies Firms limited liability partnership or other partiescovered in the Register maintained under section 189 of the Companies Act 2013.

iv) The Company has not granted any loans made investments or provide guarantees andaccordingly the clause 3 (iv) of the Companies (Auditors Report) Order is not applicableto the Company.

v) According to the information and explanations given to us that the company has notaccepted any deposit from the public pursuant to section 73 to 76 or any other relevantprovisions of the Companies Act 2013 and rules framed thereunder.

vi) To the best of our Knowledge The Central Government has not prescribedmaintenance of cost records under Section 148(1) of the Act in respect of the nature ofbusiness carried on by the Company.

vii) 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 Income Tax Sales Tax Service Tax Customs duty Value AddedTax Cess and other material statutory dues applicable to it with the appropriateauthorities Except the company has been advised to pay and streamline the pending GSTreturn from September to March2018 ending the outstanding GST due of Rs.17.52 lakhs hasbeen disclosed in financial statement.

b) There were no undisputed amounts payable in respect of Provident Fund Income TaxGST Service Tax Customs Duty Value Added Tax Cess and other material statutory dues inarrears as at 31 March 2018 for a period of more than six months from the date theybecame payable.

c) There are no dues in respect of Income Tax GST Service Tax Customs Duty andValue Added Tax as on 31 March 2018 on account of disputes.

viii) In our opinion and according to the information and explanations given to us theCompany has to pay an amount of Rs.460.00 lakhs to the banks and financial institutionsand government.

ix) During the period the Company has not raised money s by way of initial public offeror public offer (including debt instruments) or term loans and hence reporting underclause (ix) of the CARO 2016 order is not applicable.

x) According to the information and explanations given to us and belief no materialfraud by the Company or on the Company by its officers or employees has been noticed orreported during the course of the audit.

xi) According to the information and explanations given to us and based on ourexamination of the records of the Company the company has paid / provided for managerialremuneration in accordance with the requisite approvals mandated by the provisions ofsection 197 read with Schedule V to the Act.

xii) The Company is not a Nidhi Company hence clause 3(xii) of Companies (AuditorsReport) Order 2016 is not applicable to the Company.

xiii) According to the information and explanations given to us there is no relatedparty transactions.

xiv) According to the information and explanations given to us the Company has notmade any preferential allotment / private placement of shares or fully or partlyconvertible debentures during the year. Accordingly the clause 3 (xiv) of Companies(Auditors Report) Order 2016 is not applicable to the Company.

xv) According to the information and explanations given to us the company has notentered into any non-cash transactions with directors or persons connected with him.Accordingly the clause 3 (xv) of the Companies (Auditors Report) order is not applicableto the Company.

xvi) The nature of business and the activities of the Company are such that the Companyis not required to obtain registration under section 45-IA of the Reserve Bank of IndiaAct 1934.

For K KULASEKHAR & Co.

Chartered Accountants

Firm Registration No.011536S

K Kulasekhar

Proprietor

Membership No.218278

Place : Hyderabad

Date : 31-05-2018

Annexure B to the Auditor's Report

Report on the Internal Financial Controls under clause (i) of Sub-section 3 of Section143 of the Companies Act2013 ("the Act")

We have audited the internal financial controls over financial reporting of M/sCelestial Biolabs Limited ("the Company") as of March 31 2018 in conjunctionwith our audit of the Standalone Ind AS 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 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"). Theseresponsibilities include the design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the orderly and efficientconduct of its business including adherence to the Company s policies the safeguardingof its assets the prevention and detection of frauds and errors the accuracy andcompleteness of the accounting records and the timely preparation of reliable financialinformation as required under the Companies Act 2013.

Auditor's Responsibility

Out responsibility is to express an opinion on the Company s internal financialcontrols 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 ICAI anddeemed to 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 ethicalrequirement 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 aspects.

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 judgement including the assessment of the risks ofmaterial misstatement of the standalone Ind AS financial statements whether due to fraudor 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 a process designedto provide reasonable assurance regarding the reliability of financial reporting and thepreparation of financial statements for external purpose 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 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 misstatement due to error or fraud may occur and not to 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 were operating effectively as at March31 2018 based on the internal control over financial reporting criteria established bythe Company considering the essential components of internal control stated in theGuidance Note on Audit of Internal Financial Controls over Financial Reporting issued bythe Institute of Chartered Accountants of India.

For K KULASEKHAR & Co.

Chartered Accountants

Firm Registration No.011536S

K Kulasekhar

Proprietor

Membership No.218278

Place : Hyderabad

Date : 31-05-2018