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Emmessar Biotech & Nutrition Ltd.

BSE: 524768 Sector: Industrials
NSE: N.A. ISIN Code: INE634B01016
BSE 00:00 | 14 Feb 14.25 0
(0.00%)
OPEN

12.96

HIGH

14.25

LOW

12.96

NSE 05:30 | 01 Jan Emmessar Biotech & Nutrition Ltd
OPEN 12.96
PREVIOUS CLOSE 14.25
VOLUME 1351
52-Week high 20.70
52-Week low 9.20
P/E 5.77
Mkt Cap.(Rs cr) 7
Buy Price 12.96
Buy Qty 300.00
Sell Price 14.24
Sell Qty 1000.00
OPEN 12.96
CLOSE 14.25
VOLUME 1351
52-Week high 20.70
52-Week low 9.20
P/E 5.77
Mkt Cap.(Rs cr) 7
Buy Price 12.96
Buy Qty 300.00
Sell Price 14.24
Sell Qty 1000.00

Emmessar Biotech & Nutrition Ltd. (EMMESSARBIOTECH) - Auditors Report

Company auditors report

To the Members

Emmessar Biotech & Nutrition Limited

Report on the Standalone Financial Statements

We have audited the accompanying standalone financial statements of Emmessar Biotech& Nutrition Limited ("the Company") which comprises the Balance Sheet as at31st March 2018 the Statement of Profit and Loss the Cash Flow Statement forthe year then ended and a summary of significant accounting policies and otherexplanatory information.

Management's Responsibility for the Standalone 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 standalone 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 including Accounting Standardsspecified under Section 133 of the Act read with Rule 7 of the Companies (Accounts)Rules 2014. This responsibility also includes maintenance of adequate accounting recordsin accordance with the provisions of the Act for safeguarding the assets of the Companypreventing and detecting frauds 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 financialstatements that give a true and fair view and are free from material misstatement whetherdue to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these standalone financial statementsbased 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 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 judgement including the assessment of the risks of material misstatement of thefinancial statements whether due to fraud or error. In making those risk assessments theauditor considers internal financial control relevant to the Company's preparation of thefinancial statements that give a true and fair view in order to design audit proceduresthat are appropriate in the circumstances. An audit also includes evaluating theappropriateness of the accounting policies used and the reasonableness of the accountingestimates made by the Company's Directors as well as evaluating the overall presentationof 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 Standalone Financial Statements.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone 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 2018 and its profit and its cash flows for the year ended onthat date.

Report on Other Legal and Regulatory Requirements

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 Section 143 ofthe Act we give in Annexure 1 a statement on the matters specified in paragraph 3 and 4of the Order to the extent applicable.

Further to our comments in Annexure 1 as required by Section 143(3) of the Act wereport that:

We have sought and obtained all the information and explanations which to the best ofour knowledge and belief were necessary for the purposes of our audit.

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

The Balance Sheet the Statement of Profit and Loss and the Cash Flow Statement dealtwith by this Report are in agreement with the hooks of account.

In our opinion the aforesaid standalone financial statements comply with theAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014.

On the basis of the written representations received from the directors as on 31stMarch 2018 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2018 from being appointed as a director in termsof Section 164 (2) of the Act.

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 2\ and

With respect to the other matters to be included in the Auditor's Report in accordancewith Rule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinion and to thebest of our information and according to the explanations given to us:

The Company does not have any pending litigation which would impact its financialposition.

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

There has been no delay in transferring amounts required to be transferred to theInvestor Education and Protection Fund by the Company.

For V. Sankar Aiyar & Co
Chartered Accountants
Firm Reg No: 109208W
V Mohan
Place: Mumbai Partner
Date: 16* May 2018 Membership No. 17748

ANNEXURE 1 TO THE INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EMMESSAR BIOTECH &NUTRITION LIMITED ON STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31" MARCH2018

Based on the audit procedures performed for the purpose of reporting a true and fairview on the standalone financial statements of the company and taking into considerationthe information and explanations given to us and the books of account and other recordsexamined by us in the normal course of audit and in our opinion we report that:

I a. The Company has generally maintained proper records showing full particularsincluding quantitative details and situation of fixed assets.

b. The Company has a policy of physically verifying its fixed assets in a phased mannerto cover all the assets of the Company in a block of three years which in our opinion isreasonable having regard to the size of the Company and the nature of its business.

c. The title deeds of the immovable properties are held in the name of the company.

II a. The inventory has been physically verified by the Management at reasonableintervals during the year.

b. The procedures of physical verification of inventories followed by the management isreasonable and adequate in relation to the size of the company and nature of its business.No material discrepancies were noticed on such physical verification.

c. The company has maintained proper records of inventories. As explained to us therewere no material discrepancies noticed on physical verification of inventory as comparedto the book records.

III The Company has not granted any loans secured or unsecured during the period to theparties covered in the Register maintained under section 189 of the Companies Act 2013.

IV The Company has not granted any loans investments or any guarantees or securitiesaccordingly provision of Section 185 and 186 does not apply.

V The Company has not accepted any deposits from public. Accordingly this clause isnot applicable.

VI The Central Government has not prescribed maintenance of cost records under section148(1) of the Act.

VII a. The company is generally regular in depositing undisputed statutoiy duesincluding provident fund employees' state insurance income-tax sales-tax wealth taxgoods and service tax duty of customs duty of excise value added tax cess and anyother statutory dues with the appropriate authorities during the year. No undisputedamount in respect of the aforesaid statutory dues were in arrears as at 31st March 2018for a period of more than six months from the date they become payable.

b. There are no dues of Income Tax Sales tax Goods and Service Tax Customs dutyWealth Tax Excise Duty and Cess which have not been deposited on account of a dispute.

VIII The Company has not defaulted in repayment of dues to any financial institutionsor banks.

IX The Company did not raise any money by way of initial public offer (including debtsinstruments) or further public offer and terms loans during the year. Accordingly thisclause is not applicable.

X No material fraud by the company or on the company by its officers or employees hasbeen noticed or reported during the course of our audit.

XI The company has paid/provided for managerial remuneration in accordance with therequisite approvals as mandated by the provisions of section 197 read with Schedule V ofthe Act.

XII The Company is not a Nidhi Company. Accordingly this clause is not applicable.

XIII All Transaction with related parties are in compliance with Section 177 andsection 188 of the Companies Act 2013 where applicable and details of such transactionshave been disclosed in the financial statements as required by the applicable Accountingstandards.

XIV The Company has not made any preferential allotment or private placement of sharesor fully or party convertible debentures during the year. Accordingly this clause is notapplicable.

XV The Company has not entered into any non - cash transactions with directors orpersons connected with them.

XVI The Company is not required to be registered under Section 45-IA of the ReserveBank of India Act 1934.

For V. Sankar Aiyar & Co
Chartered Accountants
Firm Reg. No: 109208W
V Mohan
Place: Mumbai Partner
Date: May 16th 2018 Membership No. 17748

ANNEXURE 2 TO THE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF EMMESSAR BIOTECH &NUTRITION LIMITED ON STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31stMARCH 2018

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 EmmessarBiotech & Nutrition Limited ("the Company") as of March 31 2018 inconjunction with our audit of the financial statements of the Company for the year endedon 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. These responsibilities includethe design implementation and maintenance of adequate internal financial controls thatwere operating effectively for ensuring the orderly and efficient conduct of its businessincluding adherence to company's policies the safeguarding of its assets the preventionand detection of frauds and errors the accuracy and completeness of the accountingrecords and the timely preparation of reliable financial information as required underthe 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 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. Webelieve that the audit evidence we have obtained is sufficient and appropriate to providea basis for our audit opinion on the Company's internal financial controls system overfinancial 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 purposes 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 of records that in reasonable detail accurately andfairly reflect the transactions and dispositions of the assets of the company;

(2) provide reasonable assurance that transactions are recorded as necessary to permitpreparation of financial statements in accordance with generally accepted accountingprinciples and that receipts and expenditures of the company are being made only inaccordance with authorizations 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 have amaterial 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 March 31 2018 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.

For V. Sankar Aiyar & Co
Chartered Accountants
Firm Reg. No: 109208W
V Mohan
Place: Mumbai Partner
Date: May 16th 2018 Membership No. 17748

Auditor's Report On Quarterly Financial Results and Year to Date Results of the CompanyPursuant to the Regulation 33 of the SEBI (Listing Obligations and DisclosureRequirements) Regulations 2015 TO THE BOARD OF DIRECTORS OF EMMESSAR BIOTECH &NUTRITION LIMITED

We have audited the accompanying Statement of Standalone Financial Results of EmmessarBiotech & Nutrition Limited ("the Company") for the year ended 31st March2018 ("The Statement") being submitted by the Company pursuant to therequirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirement)Regulations 2015 as modified by Circular No CIR/ CFD/FAC/62/2016 dated July 52016.

This Statement which is the responsibility of the Company's Management and approved bythe Board of Directors has been prepared on the basis of the related standalone financialstatements which has been prepared in accordance with the Indian Accounting Standards (IndAS) prescribed under Section 133 of the Companies Act 2013 read with relevant Rulesissued there under and other accounting principles generally accepted in India. Ourresponsibility is to express an opinion on the Statement based on our audit of suchstandalone financial statements.

We conducted our audit in accordance with the Standards on Auditing issued by theInstitute of Chartered Accountants of India. Those Standards require that we plan andperform the audit to obtain reasonable assurance about whether the Statement is free frommaterial misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures in the Statement. The procedures selected depend on the auditor'sjudgement including the assessment of the risks of material misstatement of theStatement whether due to fraud or error. In making those risk assessments the auditorconsiders internal control relevant to the Company's preparation and fair presentation ofthe Statement in order to design audit procedures that are appropriate in thecircumstances but not for the purpose of expressing an opinion on the effectiveness ofthe Company's internal control. An audit also includes evaluating the appropriateness ofthe accounting policies used and the reasonableness of the accounting estimates made bythe Management as well as evaluating the overall presentation of the Statement. Webelieve that the audit evidence we have obtained is sufficient and appropriate to providea basis for our audit opinion.

Based on our audit conducted as above in our opinion and to the best of ourinformation and according to the explanations given to us the Statement; is presented inaccordance with the requirements of Regulation 33 of the SEBI (Listing Obligations andDisclosure Requirement) Regulations 2015 as modified by Circular No CIR/CFD/FAC//62/2016dated July 5 2016 and gives a true and fair view in conformity with the aforesaid IndianAccounting Standards and other accounting principles generally accepted in India of thetotal comprehensive income (comprising of net profit and other comprehensive income) andother financial information of the Company for the year ended 31st March 2018.

The Statement includes the results for the Quarter ended 31st March 2018being the balancing figure between audited figures in respect of the full financial yearand the published year to date figures upto the third quarter of the current financialyear which were subject to limited review by us.

For V. Sankar Aiyar & Co
Chartered Accountants
Firm Reg. No: 109208W
V Mohan
Place: Mumbai Partner
Date: May 16th 2018 Membership No. 17748