Testimonials

 
 

Services

 
 

Customer Care - 033 6606 3000 / 1860 420 3333
<< Prices as on Aug 20, 2018 >>      ABB India  1223.05 [ -0.32% ]     ACC  1598.35 [ 0.35% ]     Ambuja Cements Ltd.  229.45 [ 0.31% ]     Asian Paints Ltd.  1408.9 [ 0.65% ]     Axis Bank Ltd.  624.2 [ -0.46% ]     Bajaj Auto Ltd.  2734 [ 2.75% ]     Bank of Baroda  150.9 [ 3.36% ]     Bharti Airtel  370.4 [ -0.23% ]     Bharat Heavy Ele  74.9 [ 1.42% ]     Bharat Petroleum  375.95 [ -0.41% ]     Britannia Ind.  6774.15 [ 2.37% ]     Cairn India Ltd.  285.4 [ 0.90% ]     Cipla  643.7 [ -0.69% ]     Coal India  284.2 [ 1.07% ]     Colgate Palm.  1146.45 [ 0.42% ]     Dabur India  453.75 [ -0.37% ]     DLF Ltd.  214.8 [ 2.24% ]     Dr. Reddy's Labs  2380.2 [ 0.71% ]     GAIL (India) Ltd.  379.1 [ -2.10% ]     Grasim Inds.  1042.05 [ -0.21% ]     HCL Technologies  990.8 [ -1.26% ]     HDFC  1920.05 [ 1.94% ]     HDFC Bank  2097.1 [ 0.96% ]     Hero MotoCorp  3305.05 [ 1.74% ]     Hindustan Unilever L  1775.4 [ -0.30% ]     Hindalco Indus.  226.65 [ 3.19% ]     ICICI Bank  338.35 [ -0.50% ]     IDFC L  52.5 [ 0.86% ]     Indian Hotels Co  125.9 [ -1.10% ]     IndusInd Bank  1989.7 [ 0.00% ]     Infosys  1385.2 [ -3.22% ]     ITC Ltd.  313.1 [ -0.21% ]     Jindal St & Pwr  205.4 [ 3.42% ]     Kotak Mahindra Bank  1271.95 [ 0.71% ]     L&T  1323.95 [ 6.74% ]     Lupin Ltd.  869.8 [ -1.09% ]     Mahi. & Mahi  968.4 [ 0.77% ]     Maruti Suzuki India  9075.9 [ -0.79% ]     MTNL  15.15 [ 0.33% ]     Nestle India  10876.8 [ 0.01% ]     NIIT Ltd.  92.3 [ 0.16% ]     NMDC Ltd.  105.15 [ 0.77% ]     NTPC  158.5 [ 0.35% ]     ONGC  168.55 [ 3.34% ]     Punj. NationlBak  84.2 [ 0.90% ]     Power Grid Corpo  187.45 [ 0.13% ]     Reliance Inds.  1234.9 [ 2.61% ]     SBI  307.55 [ 1.84% ]     Vedanta  221.8 [ 3.16% ]     Shipping Corpn.  58.55 [ 1.39% ]     Sun Pharma.  624.7 [ 0.22% ]     Tata Chemicals  702.95 [ -0.76% ]     Tata Global Beverage  244.95 [ 1.16% ]     Tata Motors Ltd.  269.55 [ 4.74% ]     Tata Steel  599.4 [ 3.24% ]     Tata Power Co.  69.95 [ 1.89% ]     Tata Consultancy  2010.4 [ -0.07% ]     Tech Mahindra Ltd.  685.9 [ -0.13% ]     UltraTech Cement  4300.7 [ 0.44% ]     United Spirits  630.25 [ -1.35% ]     Wipro Ltd  284.3 [ 1.68% ]     Zee Entertainment En  506.15 [ 0.36% ] BSE Prices delayed by 5 minutes... BSE NSE
Search Company 
Grasim Industries Ltd.
Market Cap. (Rs.) 68378.27 Cr. P/BV 1.19 Book Value (Rs.) 872.32
52 Week High/Low (Rs.) 1300/914 FV/ML 2/1 P/E(X) 25.53
Bookclosure 14/09/2018 EPS (Rs.) 40.73 Div Yield (%) 0.53
AUDITOR'S REPORT
You can view full text of the latest Auditor's Report for the company.
Year End :2017-03 

REPORT ON THE STANDALONE IND AS FINANCIAL STATEMENTS

We have audited the accompanying standalone Ind AS financial statements of GRASIM INDUSTRIES LIMITED (“the Company”), which comprise the Balance sheet as at 31 March 2017, and the Statement of profit and loss (including Other Comprehensive Income), the Statement of Cash flows and the Statement of changes in equity, for the year then ended, and a summary of the significant accounting policies and other explanatory information (herein after referred to as “standalone Ind AS financial statements”).

MANAGEMENT’S RESPONSIBILITY FOR THE STANDALONE IND AS FINANCIAL STATEMENTS

The Company’s Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 (“the Act”) with respect to the preparation of these standalone Ind AS financial statements that give a true and fair view of the financial position, financial performance, cash flows and changes in equity of the Company in accordance with the accounting principles generally accepted in India, including the Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Act read with the rules issued thereunder.

This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Ind AS 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 standalone Ind AS financial statements based on our audit.

We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the Rules made thereunder.

We conducted our audit of standalone Ind AS financial statements in accordance with the Standards on Auditing specified under Section 143(10) of the Act.Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the standalone Ind AS financial statements are free from material misstatement.

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

We believe that the audit evidence we have obtained is sufficient and appropriate to provide 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 according to the explanations given to us, the aforesaid standalone Ind AS 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 including the Ind AS, of the state of affairs of the Company as at 31 March 2017 and its financial performance including other comprehensive income, its cash flows and changes in equity for the year ended on that date.

OTHER MATTERS

The comparative financial information of the Company for the year ended 31 March 2016 and the transition date opening balance sheet as at 1 April 2015 included in these standalone Ind AS financial statements, are based on the previously issued statutory financial statements prepared in accordance with the Companies (Accounting Standards) Rules, 2006 audited by the predecessor auditors whose report for the year ended 31 March 2016 and 31 March 2015 dated 7 May 2016 and 2 May 2015 respectively expressed an unmodified opinion on those standalone financial statements, as adjusted for the differences in the accounting principles adopted by the Company on transition to Ind AS, which have been audited by B S R & Co. LLP, Chartered Accountants, one of the joint auditors of the Company.

Our opinion is not modified in respect of the above matter.

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 of the Act, we give in the “Annexure A” a statement on the matters specified in paragraphs 3 and 4 of the said Order, to the extent applicable.

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 best of our knowledge and belief, were necessary for the purposes of our audit;

(b) in our opinion, proper books of account as required by law have been 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, the Statement of Cash flows and the Statement of changes in equity dealt with by this report are in agreement with the books of account;

(d) in our opinion, the aforesaid standalone Ind AS financial statements comply with the Indian Accounting Standards specified under Section 133 of the Act read with relevant rule issued thereunder;

(e) on the basis of the written representations received from the directors as on 31 March 2017 taken on record by the Board of Directors, none of the directors is disqualified as on 31 March 2017 from being appointed as a director in terms of Section 164 (2) of the Act; and

(f) with respect to the adequacy of the internal financial controls over financial reporting of the Company and the operating effectiveness of such controls, refer to our separate report in “Annexure B”; and

(g) with respect to the other matters to be included in the Auditor’s Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us:

i. the Company has disclosed the impact of pending litigations on its financial position in its standalone Ind AS financial statements. Refer Note 4.1 to the standalone Ind AS financial statements;

ii. the Company did not have any long-term contracts, including derivative contracts, for which there were any material foreseeable losses;

iii. there has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the Company; and

iv. the Company has provided requisite disclosures in the standalone Ind AS financial statements as to holdings as well as dealings in Specified Bank Notes during the period from 8 November, 2016 to 30 December, 2016 and these are in accordance with the books of accounts maintained by the Company. Refer Note 4.7.8 to the standalone Ind AS financial statements.

ANNEXURE-A

to the Independent Auditor’s Report

With reference to the Annexure referred to in the Independent Auditor’s Report to the Members of Grasim Industries Limited (‘the Company’) on the standalone Ind AS financial statements for the year ended 31 March 2017, we report the following:

(i) (a) The Company has maintained proper records showing full particulars, including quantitative details and situation, of the fixed assets (property plant and equipment).

(b) The Company has a regular programme of physical verification of its fixed assets (property plant and equipment) by which all fixed assets (property plant and equipment) are verified in a phased manner over a period of two to three years. In accordance with this programme, a portion of the fixed assets (property plant and equipment) has been physically verified by the management during the year and no material discrepancies have been noticed on such verification. In our opinion, this periodicity of physical verification is reasonable having regard to the size of the Company and the nature of its assets.

(c) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the title deeds of immovable properties, as disclosed in Note 2.1.1 to the standalone Ind AS financial statements, are held in the name of the Company, except for the following:

Particulars

Leasehold land

Freehold land

Gross Block as at 31 March 2017

74.12

75.05

Net Block as at 31 March, 2017

64.17

75.05

Number of Cases

104

37

(ii) Inventory, except good-in-transit, has been physically verified by management at reasonable intervals during the year. In our opinion, the frequency of such verification is reasonable. Discrepancies noticed on such verification between physical stocks and the book records were not material and these have been properly dealt with in the books of account.

(iii) In our opinion and according to information and explanations given to us, the Company has not granted any loans, secured or unsecured, to companies, firms, limited liability partnerships or other parties covered in the register maintained under Section 189 of the Act. Accordingly, paragraph 3(iii) of the Order is not applicable to the Company.

(iv) The Company has not granted any loans or provided any guarantees or security to the parties covered under Section 185 of the Act. The Company has complied with the provisions of Section 186 of the Act with respect to loans and investments. The Company has not provided any guarantee or security to the parties covered under Section 186 of the Act.

(v) The Company has not accepted any deposits from the public in accordance with the provisions of Sections 73 to 76 of the Act and the rules framed there under.

(vi) We have broadly reviewed the cost records maintained by the Company pursuant to the rules prescribed by Central Government for maintenance of cost records under sub section (1) of Section 148 of the Act and are of the opinion that prima facie, the prescribed accounts and records have been made and maintained. However, we have not made a detailed examination of the records.

(vii) (a) According to the information and explanations given to us and the records of the Company examined by us, in our opinion, the Company is generally regular in depositing the undisputed statutory dues including Provident fund, Employees’ state insurance, Income tax, Sales tax, Service tax, duty of Customs, duty of Excise, Value added tax, Cess and other material statutory dues applicable to it with the appropriate authorities.

According to the information and explanations given to us, no undisputed amounts payable in respect of Provident fund, Employees’ state insurance, Income tax, Sales tax, Service tax, duty of Customs, duty of Excise, Value added tax, Cess and other material statutory dues were in arrears as at 31 March 2017 for a period of more than six months from the date they became payable.

(b) According to the information and explanations given to us, there are no dues of Income tax, Sales tax, Service tax, duty of Customs, duty of Excise or Value added tax, which have not been deposited with the appropriate authorities on account of any dispute other than those mentioned in Appendix I to this report.

Name of the Statute

Nature of the Dues

Amount

period to which

Forum where dispute

(Rs. Crores)

the amount relates

is pending

Income Tax Act,

Income Tax and

144.57

2005-2014

Appellate Authority

1961

Interest

0.48

2007-2016

Assessing Authority

Sales Tax / Value

Sales Tax, VAT,

0.01

2008-2009

High Court

Added Tax Act

Interest and Penalty

5.21

2006-2017

Appellate Authority

Entry Tax Act

Entry Tax and Interest

5.61

2006-2017

Supreme Court

13.46

2004-2017

High Court

1.35

2007-2013

Appellate Authority

Service Tax under

Service Tax, Interest

0.01

2009-2010

High Court

Finance Act, 1994

and Penalty

9.19

2004-2017

Appellate Authority

1.57

1997-2016

Assessing Authority

Customs Act, 1962

Customs Duty,

10.87

2004-2017

Appellate Authority

Interest and Penalty

0.63

2005-2008

Assessing Authority

Central Excise Act,

Excise duty, Interest

2.27

1999-2017

High Court

1944

and Penalty

43.89

1999-2017

Appellate Authority

7.22

1995-2017

Assessing Authority

(viii) In our opinion and according to the information and explanations given to us, the Company has not defaulted in repayment of loans or borrowings to banks and government. The Company did not have any outstanding dues to financial institution and debenture holders.

(ix) In our opinion and according to the information and explanations given to us, the Company has not raised any moneys by way of initial public offer or further public offer (including debt instruments) and term loans during the year. Accordingly, the provisions of Clause 3(ix) of the Order are not applicable to the Company

(x) According to the information and explanations given to us, no material fraud by the Company or on the Company by its officers or employees has been noticed or reported during the course of our audit.

(xi) According to the information and explanations give to us and based on our examination of the records, the Company has paid or provided for managerial remuneration in accordance with the requisite approvals mandated by the provisions of Section 197 read with Schedule V to the Act.

(xii) In our opinion and according to the information and explanations given to us, the Company is not a Nidhi Company. Accordingly, paragraph 3(xii) of the Order is not applicable to the Company.

(xiii) According to the information and explanations given to us and based on our examination of the records of the Company, transactions with the related parties are in compliance with Sections 177 and 188 of the Act, where applicable. The details of such related party transactions have been disclosed in the financial statements as required under Indian Accounting Standard (Ind AS) 24, Related Party Disclosures notified under the Companies (Indian Accounting Standards) (Amendment) Rules, 2016.

(xiv) According to the information and explanations give to us and based on our examination of the records, the Company has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during the year. Accordingly, paragraph 3(xiv) of the Order is not applicable to the Company.

(xv) According to the information and explanations given to us and based on our examination of the records, the Company has not entered into non-cash transactions with directors or persons connected with him. Accordingly, paragraph 3(xv) of the Order is not applicable.

(xvi) In our opinion and according to the information and explanations given to us, the Company is not required to be registered under Section 45-IA of the Reserve Bank of India Act, 1934. Accordingly, paragraph 3 (xvi) of the Order is not applicable.

For G. P Kapadia & Co. For B S R & Co. LLP

Chartered Accountants Chartered Accountants

Firm’s Registration No: 104768W Firm’s Registration No: 101248W/W-100022

Atul B. Desai Akeel Master

Partner Partner

Membership No: 30850 Membership No: 046768

Place: Mumbai

19th May 2017

Attention Investors :
No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorize your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account.    KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
Prevent unauthorised Trading / transactions in Your Account:
Update your email ID and Mobile Number with your Stock Broker and Depository Participant to receive alerts for all important transactions in your account directly from NSE and NSDL. Issued in the interest of the Investors….
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
Support