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B&A Packaging India Ltd.
Market Cap. (Rs.) 1.49 Cr. P/BV 0.06 Book Value (Rs.) 48.98
52 Week High/Low (Rs.) 3/3 FV/ML 10/100 P/E(X) 0.31
Bookclosure 20/09/2018 EPS (Rs.) 9.68 Div Yield (%) 0.00
AUDITOR'S REPORT
You can view full text of the latest Auditor's Report for the company.
Year End :2014-03 We have audited the accompanying financial statements of B & A PACKAGING INDIA LIMITED ("the Company"), which comprises the Balance Sheet as at 31st March, 2014, the Statement of Profit & Loss and the Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information.

Management's Responsibility for the Financial Statements

Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the Accounting Standards referred to in sub-section (3C) of Section 211 of the Companies Act, 1956 ("the Act"). This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statement. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidences we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

In our opinion and to the best of our information and according to the explanations given to us, the financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India :

(a) in the case of the Balance Sheet, of the state of affairs of the Company as at 31st March, 2014 ;

(b) in the case of the Statement of Profit and Loss, of the profit for the year ended on that date ; and

(c) in the case of the Cash Flow Statement, of the cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order, 2003 ("the Order") issued by the Central Government of India in terms of sub-section (4A) of Section 227 of the Act, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the Order.

2. As required by Section 227(3) of the Act, we report that :

(a) We have obtained all the information and explanations which to the best of 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 the Company so far as appears from our examination of those books ;

(c) The Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement dealt with by this Report are in agreement with the books of account ;

(d) In our opinion, the Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement comply with the Accounting Standards referred to in sub-section (3C) of Section 211 of the Companies Act, 1956 ;

(e) On the basis of written representations received from the directors as on 31st March, 2014, and taken on record by the Board of Directors, none of the directors is disqualified as on 31st March, 2014, from being appointed as a director in terms of clause (g) of sub-section (1) of Section 274 of the Companies Act, 1956.

ANNEXURE TO INDEPENDENT AUDITORS' REPORT To The members of B & A PACKAGING INDIA LIMITED Refer our report of even date

1. i) The Company has maintained proper records showing full particulars including quantitative details and situation of its fixed assets.

ii) During the year the fixed assets were physically verified by the management.

iii) No part of the fixed assets of the Company was disposed off during the year.

2. i) During the year, inventories were physically verified by the management at reasonable intervals.

ii) In our opinion, the procedure of physical verification of inventories followed by the management is adequate considering the size of the Company and the nature of its business.

iii) Based on examination of records, we are of opinion that, the Company is maintaining proper records of inventories. The discrepancies noticed on physical verification of inventories as compared to book records were not material and have been properly dealt with in the books of account.

3. According to the information and explanations given to us, the Company has not granted any loan, secured or unsecured to companies, firms or other parties covered in the register maintained under Section 301 of the Companies Act, 1956. During the year the Company has repaid existing interest free loans to a Private Limited Company and a Director and also taken unsecured loan from its holding company. In our opinion the terms and conditions of these loans are prima facie not prejudicial to the interest of the Company and the repayments were not due during the year under audit.

4. In our opinion and according to the information and explanations given to us, there are adequate internal control procedures commensurate with the size of the Company and the nature of its business for the purchase of inventory and fixed assets and for sale of goods. During the course of our audit, we have not come across any instance of major weakness in the internal controls.

5. a) According to the information and explanations given to us, we are of the opinion that the transactions that need to be entered into the register maintained under section 301 of the Companies Act, 1956 have been so entered.

b) In our opinion and according to information and explanations given to us, the transactions made in pursuance of contracts or arrangements entered in the register maintained under section 301 of the Companies Act, 1956 and exceeding the value of Rupees five lakhs in respect of any party during the year have been made at prices which are reasonable having regard to prevailing market prices at the relevant time.

6. The Company has not accepted any deposits from the public within the meaning of Section 58A and 58AA of the Companies Act, 1956 and the rules framed there under.

7. In our opinion, the Company has an internal audit system commensurate with its size and nature of its business.

8. We have broadly reviewed the books of account maintained by the Company pursuant to the Rules made by the Central Government for the maintenance of cost records under Section 209 (1) (d) of the Companies Act, 1956 and are of the opinion that prima facie, the prescribed accounts and records have been made and maintained. We have however, not made a detailed examination of these records with a view to determine whether they are accurate or complete.

9. i) According to the records of Company, undisputed statutory dues including provident fund, employees' state insurance, income tax, sales tax, wealth tax, customs duty and excise duty have generally been regularly deposited with the appropriate authorities. ii) According to the information and explanations given to us, the following are the particulars of disputed dues on account of sales tax and employees' state insurance matters which have not been deposited by the Company

Name of the      Nature of dues      Amount    Relevant   Forum where
Statute                              (Rs.)     Period     dispute is 
                                                            pending

Central Sales    Sales            27,54,267   1998-1999   Sales Tax 
                                                          Tribunal
Tax Act          Tax                                      Cuttack

Central Sales    Sales             7,83,904   2002-2003   Sales Tax                                                           Tribunal
Tax Act          Tax                                      Cuttack

Central Sales    Sales             7,72,449   2003-2004   Sales Tax 
                                                          Tribunal
Tax Act          Tax                                      Cuttack

Central Sales    Sales            28,46,586   2006-2007   Commissioner
                                                             of
Tax Act          Tax                              &       Sales Tax 
                                                         (Appeal),
                                                          Cuttack
                                              2007-2008

Central Sales    Sales            17,47,350   2008-2009   Commissioner
                                                                 of
Tax Act          Tax                           &          Sales Tax 
                                                          (Appeal), 
                                                          Cuttack
                                              2009-2010

Central Sales    Sales          1,25,70,219   2010-2011   Commissioner
                                                             of
Tax Act          Tax                              to      Sales Tax
                                                          (Appeal), 
                                                          Cuttack
                                              2012-2013

Orissa Value     VAT               1,38,204   2006-2007   Commissioner
                                                            of
Added Tax Act                                     &       Sales Tax
                                                          (Appeal), 
                                                           Cuttack
                                              2007-2008

Employees' 
State            E.S.I               61,398   2002-2003   Employees'
                                                          Insurance
Insurance Act                                             Court, Kolkata

Income Tax Act   TDS            4,38,27,820   2008-2009   Commissionerof
                                                          Income Tax
                                                          (Appeals), 
                                                          Bhubaneswar

Income Tax Act   Income              35,534   2009-2010   Commissioner
                                                               of
                 Tax                                      Income Tax
                                                          (Appeals), 
                                                          Bhubaneswar
10) The Company has no accumulated loss as on 31st March, 2014. Further, the Company has not incurred cash loss during the year ended 31st March, 2014 or in the immediately preceding financial year ended 31st March 2013.

11) According to the records of the Company and the information and explanations given to us, the Company has not defaulted in repayment of dues to its bankers.

12) According to the information given to us, the Company has not granted loans or advances on the basis of security by way of pledge of shares, debentures and other securities.

13) In our opinion and according to the information and explanations given to us, the provisions of any special statute applicable to chit fund / nidhi / mutual benefit fund / societies are not applicable to the Company.

14) In our opinion, the Company does not deal or trade in shares, securities, debentures or other investments.

15) According to the information given to us, the Company has not given any guarantee for loans taken by others from banks or financial institutions during the period.

16) The term loan obtained by the Company during the year from its banker has been utilised for the purpose for which the said loan was received.

17) According to the information and explanations given to us and on an overall examination of the Balance Sheet of the Company, we report that no fund raised on short term basis were used for long term investment.

18) The Company has not made any preferential allotment of shares during the period.

19) The Company has not issued any debentures during the period.

20) The Company has not raised any money by way of public issue during the period.

21) In our opinion and according to the information and explanations given to us no fraud on or by the Company was reported during the period.

                                             For APS ASSOCIATES
                                          CHARTERED ACCOUNTANTS

                                      (Registration No. 306015E)
                                                       A. Dutta 

Place : Kolkata                                         Partner

Dated : 23rd May, 2014                    Membership No. 017693
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Achiievers Equities Ltd (AEL) Member of NSE, BSE and MCX-SX
Reg. Office: 32/A, Diamond Harbour Road, Shakerbazar, Kolkata 700008 Tel: 033 2445 6442/66063000 Fax: 033 6606 3041
Email: info@achiieversequitiesltd.com , customer.care@achiieversequitiesltd.com
NSE Registration Nos.: NSE (Cash) : INB231395832 ; NSE (F&O) : INF231395832 ; NSE (Currency) : INE231395832 ; BSE (Cash) : INB011395838 ; BSE (F&O) : INF011395838 ; BSE(Currency) : INE011395838 | DSE Registration Nos. : INB051395839 | USE Registration Nos. : INE271395837
Achievers Commercial Pvt Ltd (ACPL) Members of MCX, ACE and NSEL. | SEBI Registration No. INZ000050830 | ACE: ACEL/TMC/CORP/0194 | NSEL: 40020 | SCORES
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