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PREET REMEDIES PRIVATE LIMITED
ANNUAL REPORT
FOR THE FINANCIAL YEAR ENDED
31.03.2014
REGISTERED OFFICE: 655, INDUSTRIAL AREA, PHASE-II, CHANDIGARH
PREET REMEDIES PRIVATE LIMITED REGISTERED OFFICE: 655, INDUSTRIAL AREA, PHASE-II, CHANDIGARH
CIN U24230CH2005PTC027954 ============================================================
NOTICE
Notice is hereby given that the Next Annual General Meeting of the members of the company will be held on Tuesday, the 30thth day of September, 2014 at the Registered Office of the Company at 10.00 A.M. to transact the following Business: Ordinary Business:
1) To receive, consider and adopt the Audited Balance Sheet as of 31st March 2014 and the Statement of Profit & Loss Account for the year ended on that date together with the reports of the Directors and the Auditors thereon.
2) To re-appoint M/s Shiv K Gupta & Associates, Chartered Accountants (FRN –
006946N), Chartered Accountants, Statutory Auditors of the Company to hold the office from the conclusion of this Annual General Meeting till the conclusion of the Annual General Meeting to be held in the year 2017, subject to ratification of their re-appointment at every AGM.
For and on behalf of the Board of Directors Preet Remedies Private Limited
Sd/- Sd/- Place: Chandigarh SATISH KUMAR SANJEEV KUMAR Date: 1st Sept, 2014 (DIRECTOR) (DIRECTOR)
DIN 00763060 DIN: 01154896 H NO. 1102, SECTOR 44 B 2629, SECTOR 70
CHANDIGARH 160047 MOHALI , PUNJAB 160071 Notes:-
1. A member of the company entitled to attend and vote at the meeting is entitled to appoint a proxy to attend and vote instead of himself / herself and such proxy need not be a member of the company.
2. A blank Proxy Form is enclosed which, if used must be received at the registered office of the company at least 48 hours before the commencement of the meeting.
3. Explanatory statement pursuant to Section 102 of the Companies Act, 2013 is annexed hereto and forms part of this notice
For and on behalf of the Board of Directors Preet Remedies Private Limited
Sd/- Sd/- Place: Chandigarh SATISH KUMAR SANJEEV KUMAR Date: 1st Sept, 2014 (DIRECTOR) (DIRECTOR)
DIN 00763060 DIN: 01154896 H NO. 1102, SECTOR 44 B 2629, SECTOR 70 CHANDIGARH 160047 MOHALI , PUNJAB 160071
PREET REMEDIES PRIVATE LIMITED REGISTERED OFFICE: 655, INDUSTRIAL AREA, PHASE-II, CHANDIGARH
CIN U24230CH2005PTC027954
DIRECTORS' REPORT To the Members Your Directors have pleasure in presenting Next Annual Report together with the Audited Balance Sheet as of 31st March 2014 and the Statement of Profit & Loss Account for the year ended on that date. Financial Results:
“Amount in Rupees” Particulars 31-Mar-14 31-Mar-13
Total Income 57,52,05,299.00 40,04,04,732.00
Expenditure 56,81,70,875.00 39,66,90,722.00
Net profit/(Loss) before Tax 70,34,424.00
37,14,010.00
Tax Expenses - current tax - deferred tax - Tax in respect of earlier years
13,46,800.00 (1,69,656.00) 9,35,772.00
9,56,000.00 3,32,000.00 3,88,147.00
Net profit / (Loss)for the year 49,21,508.00
20,37,863.00
Employees: During the year covered by the Balance Sheet, the Company did not have any employee drawing remuneration in excess of the minimum sum specified in the Section 217(2A) of the Companies Act, 1956.
Director’s Responsibility Statement
Pursuant to the provisions of the Section 217(2AA) of the Companies (Amendment) Act’2000, the directors state:
i) that in the preparation of the Annual Accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures.
ii) that the directors had selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit of the company for that period.
iii) that the Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities.
PREET REMEDIES PRIVATE LIMITED REGISTERED OFFICE: 655, INDUSTRIAL AREA, PHASE-II, CHANDIGARH
CIN U24230CH2005PTC027954 iv) that the directors had prepared the annual accounts on a going concern
basis. Deposits: The company has not accepted any deposits during the year attracting the provisions of Section 58-A of the Companies Act, 1956. Dividend: The Directors have not recommended any dividend for the year. Directors: There was no change in directorship during the year. Buy-back of Shares: The Company has not bought back its shares during the year.
Auditors: M/s Shiv K Gupta & Associates, Chartered Accountants (FRN – 006946N), Chartered Accountants, who retire at the ensuing Annual General Meeting and being eligible, have offered themselves for re-appointment. The directors also recommend their re-appointment. Auditor’s Report: The contents of the Auditors Report are self explanatory and hence do not require any further comments. Secretarial Compliance Certificate: The Secretarial Compliance Certificate obtained under Section 383A of Companies Act, 1956 from M/S Jaspreet Dhawan & Associates, Company Secretaries (CP No. 8545), SCO 312, Second Floor, Sector 40D, Chandigarh is attached herewith and is self explanatory. Conservation of Energy, Technology Absorption, foreign Exchange earning and out-go: The particulars regarding above are NIL.
PREET REMEDIES PRIVATE LIMITED REGISTERED OFFICE: 655, INDUSTRIAL AREA, PHASE-II, CHANDIGARH
CIN U24230CH2005PTC027954 Acknowledgements: Your Directors thank all other stakeholders and business associates for their sustained support.
For and on behalf of the Board of Directors Preet Remedies Private Limited
Sd/- Sd/- Place: Chandigarh SATISH KUMAR SANJEEV KUMAR Date: 1st Sept, 2014 (DIRECTOR) (DIRECTOR)
DIN 00763060 DIN: 01154896 H NO. 1102, SECTOR 44 B 2629, SECTOR 70 CHANDIGARH 160047 MOHALI , PUNJAB 160071
I ndepen d ent Aud itor's Re port
To the Members of
Preet Remedies Private Limited.
We have audited the accompanying financial statements of Preet Remedies privateLimited ("the Company"), which comprise the Balance Sheet as at March 3j, 2014,the Statement of Profit and Loss for the year then ended and the cash flowstatement along with summary of significant accounting policies and otherexplanatory information.
Management is responsible for the preparation of these financial statements thatgive a true and fair view of the financial position, financial performance of theCompany in accordance with the Accounting Standards referred to in sub-section(3C) of section 211 of the Companies Act, 1956 ("the Act"). This responsibitityincludes the design, implementation and maintenance of internal control relevan( rothe preparation and presentation of the financial siatements that give a true and fairview and are free from material misstatement, whether due to fraud or error.
Our responsibility is to express an opinion on these financial statements baseo onour audit. We conducted our audit in accordance with the Standards on Auditingissued by the lnstitute of Chartered Accountants of India. Those Standards reourrethat we comply with ethical requirements and plan and perfom the audit to obtainreasonable assurance about whether the financial statements are free from materialmisstatement.
An audit involves performing procedures to obtain audit evidence about the amountsand disclosures in the financial statements. The procedures selected depend on theauditor's judgment, including the assessment of the risks of material misstatement ofthe financial statements, whether due to fraud or error. ln making those riskassessments, the auditor considers internal control relevant to the ComDanv'spreparation and fair presentation of the financial statements in order to design auditprocedures that are appropriate in the circumstances. An audit also includesevaluating the appropriateness of accounting policies used and the reasonablenessof the accounting estimates made by management, as well as evaluating the overallpresentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion.
In our opinion and to the best of our information and according to the explanationsgiven to us, the financial statements give the information required by the Act in themanner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India:
a) in the case ofthe Balance Sheet, ofthe state of affairs ofthe Comoanv asat March 31. 2014:
b) in the case of the Profit and Loss Account, of the profit for the year endedon that datet and
c) in the case of the cash flow statement for the year ended on ttiat
't. As required by the Companies (Auditor,s Report) Order, 2OO3 ("theissued by the Central Government of lndia in terms of sub_sectionsection 227 of the Act, we give in the Annexure a statement on thespecified in paragraphs 4 and 5 ofthe Order.
Orde/)(4A) ofmaners
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 ofour knowledge and beliefwere necessary for the purpose of our audit;
b) in our opinion proper books of account as required by law have been keprby the Company so far as appears from our examination of those books
c) the Balance Sheet and Statement of profit and Loss dealt with bv thisReport are in agreement with the books of account.
d) In our opinion, the Balance Sheet, Statement of profit and Loss and cashflow statement comply with the Accounting Standards referred to insubsection (3C) of section 211 of the Companies Act, 1956;
e) in our opinion, the Balance Sheet and Statement of profit and Loss,comply with the Accounting Standards referred to in subsection (3C) ofsection 211 of the Companies Act, 1956;
f) on the basis of written representations received from the directors as onMarch 31, 2014, and taken on record by the Board of Directors. none ofthe directors is disqualified as on March 31,2014, from being appointed asa director in terms of clause (g) of sub-section (1) of section 274 of heCompanies Act, 1956.
g) Since the Central Government has not issued any notification as to therate at which the cess is to be paid under section 4414 of the CompaniesAct, 1956 nor has it issued any Rules under the said section, prescribingthe manner in which such cess is to be paid, no cess is due and payableby the Company.
Place: Chandigarh
Date: 01.09.2014
FOR SHIV K GUPTA & ASSOCIATES
CH ED ACCOUNTANTS
The Annexure referred to in paragraph- 1 _of tho our Repot of oven datE to thememberc of preot Remedies pdvite Limited d" il; il;;;;;?lhe companyfor the year ended 3istMalch. 20i4.
On the.basis of such checks as we considered . appropriate and according to theinformation and exptanation given to us ourtng thd;d;e'of;rl-rl'it, *" ,"porr
1. (a).The company has maintained..propef records showing fu particularsinctuding quantitative details and situation ot its fxeJ asseii
'-
(b) As explained to us, fixed assets have been physically verifled by themanagemenl at reasonable intervals; no matdri;l disdrepancies werenoticed on such vermcation.
(c) ln our opinion and according to.the infomation and explanations givento us, no fixed asset has been disposed during the yuJiinO tt er"tor"does not affect the going concern assumotion.
2. (a) As explained to us, inventories have.been physically verified during theyear by the management at reasonable intervals.'
(b) In our opinion and according.to th-e information and expranations givento us, the procedures of physic;l vedfication ot inveniorieJioiloweu uy themanagement are reasonable and adequate in relation to the size oi thecompany and the nature of its business.
(c) In our opinion and on the basis of our examination of the records, theco1na1v..is genera y maintaining proper ,";;il;;i id 'inientories.
r.romaterial discrepancy was noticed.bri pliysical verification oi siocrs oy ttremanagement as compared to book records.
3. (a) According to the information and explanations given to us and on thebasis of our examinalion of the books ;f account,-the Cornpany nas notgranted any loans, secured or unsecured, to companies, firms or otnerparties listed .in.-the register maintained under'Section 3Ol of theuompanies Act, 1956. Consequenfly, the provisions of clauses iii (b), iii(c)and iii (d) of the order are not appticabte to ihe Company.
' - - -
(e) According to the information and explanations given to us and on thebasis of our examination of the books ;f account,-the Company nas nottakgl lgani from companie^s, firms or ojher parties listed in th6 registermaintained under Section 301 of the Companies nA, igSO. nus suOctauses (f) & (g) are not applicable to the conipany.
4. In our.opinion and according to the information and explanations given tous, there is generally an adequate internal control pocedurecommensurate Wth the size of the company and the nature of itsbusiness, for the purchase of inventories & hxei assets and payment forexpenses & for sale of goods. During the course of ou, audit,'no ,ijo1instance. of continuing failure to correct any weaknesses in the icontrols has been noticed. \N
\9.
"n"43
Xv
/tr;;lchz
\2)r
5. a) Based on the audit proc
H:"fl iLT##ffi$i*ijl#,ii'nl{*ft,"*hll,+,,gnsli
,?*:eil*H3:;,13;Jo;i:ltl":: q""n..to us and in our opinion, them" e"
'"u" u"ui-r"j.?t ;l?^-"9mP?lv
with panies covered u/s 301 ofthe prevairins ma-ii;;ru;JliSrl,ll?jl,are reasonable havins resard to
6. The Company has not acceDted any deposits from the public coveredunder section 5gA and 5gAA or ure uompanEs Act, 1956.t .f,irlil, iXt"HililLf,
""#,I*pr siven bv the manasement, the
nature of its business- r system commensurate with itsiize and the
8. We have broadly reviewed theDy the company retating to ,"139!:-9t """gunts
and records maintained
f ,*il+tilqinii:lir,rr];"ru:trH';qJ:fr1?i#optnton that prima-facie, the Drescnbed accounts and records have oeenmarnbined. We have howevbr :?t ll"dg a detailed examination of therecords with a view to detemine whether t ey aie
"c"urli!.", #io,",".9. (a) According to the records ol,jli_.o3l"n{, undisputed statutory ouesncruding provident Fund. Inve_sror
. e,i*irion
"nii.i,ioiil.tioi, runo,Emptoyees' State Insurance. ll9ome_tax-, Sales{ax, Wealth Tax, Servicerax, custom Dury, Excise ouy:__T:: ro tn" "Git-"piiL"Ot,"no "ny
omer statutory dues have qenera y been regularly deposited wth theappropiate.authorities. Acc6rorng. to the information and explanattons9r^v9l' !o us there were no outstanding statutorv ar""
"" in-gii"# rur"r"n,
;:J;rE: " period of more than six
-monrhs riorn ihJii't" ji"v"L"""r"
(b) According to the infomation and explanations glven to us, lhere ts noSlounrs
payable in respect of ncome tax, wealth tax, service tax, satesrax, customs duty and exciseaccount of any disputes. duty which have not been deposiied on
10 The company.does not have any accumurated ross and has not incuredcash loss during the financialrmmediately preceeoing nn"n"id illlL
covered by our audit and in the
11. B€sed.on,our audit procedures and -on
the information and explanationsgyi: jl,,l":"11nffL*:*1."1?.-"1 tl" opinion trai, treii#plnv_n""!:i$"rl?:'iTo['"pavment or 0""" l" J'ri"ili"iiii":fi,ililT:,{t
{2.According to the information and explanat.tons giv€n to us, the Companyhas not granted loans and advances on the b;sis of security bt w;y oipledge of shares, debentures and other securities.
13.The Company is not a chit fund or a nidhi /mutual benefit fund/sociery.Therefore, the provision of this clause of the Companies (Audito/s Repon)Order, 2003 (as amended) is not applicable to the Compahy.
14. According to information and explanations given to us, the Company isnot trading in Shares, Mutualfunds & other Investments.
ls.According lo the information and explanationshas not given any guarantees for loan takenfinancial institution.
16.Based on our audit procedures and on the information given by themanagement, we report that the company has raised term loan dudng theyear and has utilised the said loan for the purpose for which it has taken.
17.Based on the information and explanations given to us and on an overallexamination of the Balance Sheet of lhe Company as at 31st March, 2014,we report that no funds raised on short-term basis have been used forlong{erm investment by the Company.
18.Based on the audit procedures performed and the infomation andexplanations given to us by the management, we report that the Companyhas not made any preferential allotment of shares during the year.
1g.The Company has no outstanding debentures during the period underaudit.
20.The Company has not raised any money by public issue during the year.
21.Based on the audit procedures performed and the infomation andexplanations given to us, we report that no fraud on or by the Gompanyhas been noticed or reported during the year, nor have we been infomeoof such case by the managemenl
given to us, the Companyby others from a bank or
Place: Chandigarh
Date: 0'1.09.2014
FOR SHIV K GUP-TA & ASSOCIATES
CHARTE
(s
M. No 085397
[:PREET REIIEDIES PRIVATE LIMITEDBal o. Shost a8 at 3l5t March, 20la
I. EQUITY AND LIABILITIES
(l)Sh.nholdo/. Funds(a) Share Capital(b) R€seruEs and SuFlus(c) lvloney received against shar€ warants(2) Sh.ro appllcatlon money p€ndtng .ttoln€nt(3) Non.cur€nt Llabllltlos(a) Long-iafin borowings(b) Def€red tax liabilities (Net)(c) Oth6r Long tem liabllitigs(d) Long lem provisions
(4) Curunt Llabllltlo3(a) Short-term boffowings(b) Trads pay€bles(c) Other current ljabililies(d) Shorl-tem provisions(€) Long Term Plrovisions
1
230,000,000
140,86'1,312
34
5
78
10
11
131415'16
30,000,000135,939,805
3,889,340
62,254,U5162,359,2931\490,217
64:],092
2,918,242
64,835,753112,244,04122,324,OU
726,735
Totil[. ASSETS
{l) Non-current .sset3(a) Fxed assets
(i) Tangibte assets(ii) Inhngible asseb(iii) Cap(El work-in-progr€ss
(b) Non-qJrent inv6slrn6nb(c) Defefled tax as6ets (n6t)(d) Long t€rm loans and advances(e) Other non-cunent ass€ts
(2) Cunont a$.t8(a) Cunent investnents(b) Inventories(c) Trade leceivables
a-\. (d) Cash and c€sh equival€nts(e) Short-term loans and €dvances' (t Other current asssts
55,026,751
38.396,735605,956
15,408,274
60,499,774199,124,11037,325,804
793,4634,517,232
53,862,548
39,896,735436,300
't8,752,272
82,271,3U142,233,8102s,400,924
477,O137,e61,700
Tot l
Audlto/3 ReporiIn lerms of our 6epeEte r6pod of €v6n date annex€d
man.glng Dlr€cloa
For Preet Remedies Pvt, Ltd.
f ,t <r-----9waryut
HARN
cTES Dlr€ctor
For Preet Remedies fot Ltd.
/' .' c>------+JaJ\Hul(s.K. GPROP.M. NO. 085397
PLACE : CHANDIGARHDATE :01,09.2014
ures in Rs.
P.rtlculaENo
Flguro3 .3atthoondof curront rcportlng
Dariod
Flgure3 es Nt lha end otp.€vlo$ roportlng
Derlod
-...2il/,--yfctolDirector
PREET REi,IEDIES PRIVATE LIMITEDStalomgnt of Protit and Loss for the ye.r ondod 3tst Itarrh,2014
L Revenue from operationsLess Excise Duty
ll. Other Incomolll. Total Revonuo (l +ll)
lV. Expenses:Cost of materials consumedPurchase of Stock-in-TradeManutacludng and operating costChanges in invenlories otfinished goods, work-in-progress and stock-in-TradoEmployee benefi t gxpenseFinancialcostsDepreciation and amortization expenseOlherexpenses
Total Exponaoa
V. Profit before exceptional and extraordinary iter" 1[t _ tgano tax
Vl. Exceptional ltems
Vll. Profit before extraordinary items and tax (V - Vl)
Vlll. Extraordinary ltems
lX. Profit before tax (Vll - Vlll)
X. Tax expense:(1) Current tax(2) Def€red tax(3)Tax in respect ofearliar year
Xl. Profit(Loss) from the perld from continuingoperatlons Vn-VlDXll. Proliv(Loss) from discontinuing operations
Xlll. Tax expense ofdiscontinuing operations
XlV. P.ofiu(Loss) from Discontinuing operations (Xll-xfl)XV ProfiV(Loss) for the period (Xl + Xl\4
XVl. Eaming per equity share:(1) Basic(2) Diluted
No of Sharg outstanding
Auditor'8 RepofiIn terms of our seperate reporl ot even date annexed
17
18
573,562,s40
573,562,540\442,759
575,205,299
479,740,942
14,811,&4.1
7,289,56536,329,1438,527,2297,433,508
14,039,,t48568,170,875
7,O3/',424
7,0u,424
7,034,424
1,346,800(169,656)935,772
4,921,508
398,891,967
398,891,9671,512,765
4tr0,4/J1,732
319,950,S49
11,10s,724
1,139,16830,952,06211,064,0347,636,513
14,U2,272396,650,722
3,714,010
3,714,010
a,rro,oro
956,000332,000348,147
2,037,863
2,037,863
0.680.68
3,000,000
19
20
212223
24
4,921,508
.1.64
1.64
3,000,000
Dlroctor
FoiPreet Remedi* tut Lti.'
lranaglng Olrsctor
Foi Preet Remedi* Pvt Lti.'/1 ) *-z,/n t-y'u,t
DiEclor
M. NO. 085397
PLACE : CHANDIGARHDATE:01.09.2014
rss in Rs.
Parliculars Not.No
Flgurea aa at the endof cunrnt r€portlng
Dgrlod
Figures aa attho end ofprsvloua reporting
oorlod
ForSH|V K GUPTA &
PREET REMEDIES PVT.LTD.Cash Flow Statement for the yearended 31st, March 2014
cash Flow iiom Oporating Aclivities
l.le,est cherged to P&L A/c
Opeialing Prcfit befo€ wo*ing capilalchanges
Trade Receivables
Cash Gensrated from OpeEtions
N€t cash tlow frofi Opecting Activities
B. Cash Flow ffom Investlng Actlvlties
Purchase of Fixed AsselsLoans & Advanc€s
Net cash ussd In Invssting Activities
C. Cash Flowfrom Financing ActivitiesProceeds/Repayme of Aonowings
7,433,5086,891,885
(56,890,300)
2,981,21821,771,560
50111252
(8,597,711)
1,343,9981,500,000
21,359,Et7
5,031,331
26,391,148(2,791,772)23,599,376
(4,.r18,369)
N€t Cash Flow from Flnanclng Activities
Nel IncGase4dscrease) in Cssh & C.sh equivalent
Opening cash & cash oquivalert
Closins cash & cash equivaleni
{7,556,131)
11p24,476
25,400,928
As at31st irarch,2014 Ar at31st lrarch,2013
7,636,5139,551,269
3,714,010
22,371,075(1,131,147)21,219,928
{31,763,878)(842,039)
1,746,426270d,5161
(14,861,342)
4.c44,743
19,356,185
25,400,928
NOTES TO THE FtNAt{CtaL sTATElrEl{TS (rrgur€s inRs.)
No!. l- Sh.ro CaDh.l
PARTICULARS
*:;[alt"l"?:"t *" da$ ot €quilv sha'hord€rs havins a paf varue of Rs. 10 p€r shar6. Each sharehotder is elisibr. for
Total
Qglts!!€ or shalt3 hotd ahir€holdoB mol! tnen 5% oflhoAr at 313t
5000000 equity shar€s otRs. .lO each
!s:!_rq+bs!4brCaIr!drpwuLruUu equny shares otRs. 10 6ach fuly paid up
Sanjgev SjhgalHaDreetSinghSanjay ohirSatish KumarHimjyofJasbir Slngh Kalra
50.000.000 5O.0O0,OOO
30,000,000 30,000,000
A! at 31.t MandNo.ot Sh.lg! Hetd % of Holdha
lo.otsharo! l;miAins852,000 2&40%452,000 15.07%400,000 13.33%444,O00452,000
14.801o15.O7o/r
852,000452,000400,@0444,OOO452,@0400,000
28.4Oo/.
15.O7%13.33%14.A0%15.O7Vo13.3i|%
400,000 13.33%
Note: Above shar$ inctude bonu3 shar€s amounung to Rs. 2250OO0O.OO issuod in Fy 201G1 1
l{otr 2. Re.6rve a Su|ptu!
PARTICULARS3l.tMarch,20ta sllt llarcft, 2013
-Transfol from proft & Loss Account
c€nelal Reservs--Previous year
1_1!,ullJranlsr€d dulng li€ yss/ Adjusrn€nt of Last year-Uap@t hv$lment subsidy ---#sffi8*#r
i-4dEftjZ-j-iEFEIo.
32,220,000 32,2m,O00
Total
l{ote 3. Long t m Borrowtngs
PARTICULARS Aa at Aa at3l!tMarcft,20t3S6cu.ed
Vohicls Loan tacount
313tMrrch.20t4
3,889,340 2,914,242
-j-38dtd-----?F &tt
Total
FoiPre€t Remedies Pvt. Lld'
tq,,/A-q2<1'
Directbr
Umocurcd
For Preet Remedies Pvt.
Nature of s€cu V of €.ch ryp€ of s€c{Fd toans (as @renny giv€n).
Noio a-Def rrod tax tiab if e./A3set
Hypothlc.tton on Vohictoc
PARTICULARSr'mine.oine,elqon!@6rJEieers-oi?6ino-iEiEdir6iuunenr Y6ar o€f€n€d Tax Liabit v
3lstMarch,2014 3l!t ltarch, 20t3
Tot l
Nots 5- Shon brm bor.owing!
PARTICULARS3l!t 2011 3l.l ltarch, 20i3
a) Cunent matudti€s of Long Term Dsbtb) Working capjtat toan From Banks
EOlCash CredirBOI Bilb OiscountedBOI Loan against FDR
1,796,147
54,856,955
5,601,743
3,797,308
52,928,5633,099,0915,010,788
Total
Details of he aggrcgats of 6ach loan guaranteed by otrecroB or out€ts, each headwise (as cuftenuy given).
(s) Cun€nt maru ties of Long Term Dsbt(b) BOlCash Credir(c) BOI Loan against FDR
AOI Cash Cr€ditEOlBills DiscounHCurr6nt matudti€s of Long Tem Debt
Notr 8- Trad€ p.yabt.
tlypothication on V6hict€s
:3Fi'?'$if,;:,l:"t"adrinery& Hvporhication otstock
54,856,955
1,796.147
PARTICULARS
Sundry Creditols (other than caoitat ooods)'sundry creditors icapirais;;;i - " 162236'1e6
123,097
ToLl
Noto 7. Otho. Current labifiUes
1 11 ,'trtg,5,611,098,480
l6-tiEalii-------itrad-
PARTICULARS
a) htsre3t accuEd but not paid on bonowinosb) Slatutory du€s-Tds Payable-Provjdsnt Fund pay6bt6-ESlPayable-S6rvic€ Tax Payabte
c) Advanc$ From Customersd) Cheq!€s issued but not pfesenled€) Oulei Payabtss- Expsnses payabt€
Tohl
FoiPreet Remedies Pvt. Ltd. For Preet Remedies-F[Tlt
88,736443O214,2-04
8,167,039
69,29252,87120,04624,712
420,22614,454,420
f \.,'-/Ju4urt ffi
g(:""trr,Director Director
Nob 8- Short Term provbion6
PARTICULARS3l.t lr.rsh, 2014 3lstUrrch,20t3for employ€€'s
BonusGratuity
b) Olher8-Provbjon tortax (nst otAdvance Tsx)
Total
Noto 10. |{on Cu.|t|rt Involtnont!
138,793504,299
370,735
PARTICULARS3l!tMrrch,20t4 3l3t
Afpha prcducls Baddi ,a n r? in wht(h conpanv isn.€€st6at as a Patularhv6stm6nt in Neelkanth Tech, L6,|nvesrnont an swMP! Nataqsdl
ALPHA PRODUCTSPARTNERS:Pre€t R€m€dies A/t LU.D€€pak Bhanol
Noio ll - Long.Toan Loanr & Advanceg
22,590'UO15,706,095
1@,000
24,090,64015,706,095
100,000
49%51%
PARTICULARS3latif.rth,2ol4 3l!tM.nh,20t3.)Capiirl Advanco!
Unsscr,rcd consli€rgd ooodbls.curlt€! depo3ttod
_Uns€cut€d considsr€d good-Eam6st money-Security Sales Tax-Secudty El€clridty-S€cunty R6nt-Mat Oedit Entitlsment-D.G. M€dic€t 8 H€aln seMc€s
Unsecur€d consjdercd good- Hinduslan Antibiolic Limitad
Allowances for bad and doubtfut depositB
c) Lorn ind Advance! to r€t.rod p.ru..uN€cured consid€r€d good
Un6ecured coBid€rgd doubttu|
d) Olhor loan .nd AdvancosUns€curod consider€d oood- Sherkhan timit6d -
4U,21425,000
349,500170,0m
14,369,560
500,00025,000
349,500170,000
15,147,77250,000
10,000
| ,\ a-'/
,tof
10,000
.E{o
ut
)ls()
I.go
L
.a
E4p
**11u1
-=l
99
R9
:s F93 $Ss $P
$i$E $$ $g E$$ $ HgF $E
$g$id
-FFilF1fl*11-,11
qu*flgl
€8$:3S
*F;qq r;lfl
$si1 ei9FRN gN
9: P!: eis i!* !;&R &
E
rHe{EE1
5!
3!lq $$F
c$$$ 9i9NRN dF
h
q
lg
t€ItleE
slFllitE
EI
:t{rl6flt
PARTICULARSAa at
Goods UarEh.2014 3t{Raw Mat€nils & packing Mat€dals
Tohl
l{otr 13- t|edo Rocatvabtec
237,74359,4€4,413
777,51873,966,408
612,350
PARTICULARSrnoe neceiveuii-6iEEiiiiioxc€adirg !k month! trom theduo for plynont.Unsocur€d considsr6d gooduns€cured consid6r€d doubtf ut
,._\ Less: Provision for doubtfut debb
_ Trad€ Rec.ivabto. out t ndtnol93a tian six morth! trom th.dro for paymortS6cu€d consider€d goodUnsecured consjdered good
31.tit.rch,2013tor a portoddrtr they atD
10,286,0084,233,805
9,744,7584,233,805
for . p€doddaia th€y are
18/.$c!'297 128,253,247
Total
Notr 14- calh and B.nk Bat nc6s
PARTICULARS
a) Balanc€ with Sch€dute Bank-8ank of India (Baddi) r,/c - 100-Bank of tndia O/D t/c - Oos4-HDFC Bank /d/c - 00667-Punjsb Nalionat Bank - C/A€/7O€t3t6 Bank of lndia-0417-Bank of India A/c- 184
Other bank balances-Bank ot hdia (Margin Mon€y)-FDR undd ljen for bank guarat6e.FDR,ryC- hteresl Accru€d on FDR
b)Cheque Deposjbd but not CredjEdc) Cash jn hand
Tohl
Nol€ : FDR forAmountingRs. 52.00 Lac ptedged to avat ue OD_
27,A62816
6,69710,000't4,150
q@1,174
r66,7855,002,155
E1,48110,00014,9m
For Preet Remedies Pvt ltd'
//lr--4'/' Dircctor
For Preet Remefifvr. Ltd.
1,305,75014,34,2503,018,366
12,090.449
n4,7741,255,750
14,344,2fi1,562,8481,3c/'281
1,506,291 EE3,70637,325,804 25t00,928
Director
Itote 15. Short Tenn Lo.n.nd Advrncog
PARTICULARS31stMarch,20ta 3l3t lilarcft, 20 t 3
- Advances to Suppfiers- Advanc€s to Others- TOS Rec€ivabte
- Advanc6 Income tax
- hcome Tax under prot€sl- S€cudty deposit wjh others
Total
oto 18. othoB c!flEnt aslot
65,6a2164,360143,30623,600
153,20034,160
182,530
55,8&l
151,280r04,866
553
144,40
:
PARTICULARS
-vat Rsc6ivabt€ Cpst=-ffi.Totrl
l{ot 17. Revenuo trom OpeBtons
PARTICULARS
i) l\ianufactudng Goods- DomesticE)pod sate
ii) Slock In Trad€- Sale return- other discount and altowances
Total
lloto 18. Oth€r Income
574,935,117
1,372,577
393,173,707
281,740
PARTICULARS
Intsrcst on FDRDivid6nd lncomeDiscount received
Total
1,635,3ut41,2506,165
1,512,765
-----iEZtE ----sitl6-
Not 19- Ililatrriat Con.umod
PARTICULARS Ar at A! al
59,484,413-+$t#*ffi:€;-Le6s-Closing Stock
rorpreetRem?tet{'For Preet Remedies fot. Lti,
I^"^-t;a
Tolal
\\r \eoi
n9!iOJ
/,+adichar,9\
\.-\D$ector
Director
73,966,408
Nob 20.litanulicturhg and Op€rating CGts
PARTICULARSAs atProauaion@iiEi@ffi
l,o!€r and Fusl
3l3tMarch,2014 3l!tt{erch,20l3
Lab ExponsssFreight and Cadag€ Inwaftlr-ood Exp€nsss (FactorulRep6ir & Mainrainan6
-Otie15Loading Untoading E&ensesrtoduct Approvat Ee.
lotal
l{oto 21. Change! In hvonto.t€. ofFinishod cood..nd Worr In progr€.s
9,085,920994,934
1,780, t46151,466
1,590,976499,891
322,2756,357,187
427,A741,8U2,U4
78,868
1,514,491790,230
5,300
PARTICULARS
- Finish€d Goods-Wo* in prog€ss
Iot lClosing Stock
- Fintshed coods-Wo* in prog€ss
Totat
Changss in Invenlories of Finishod Goods and Work in progress
l{ote 22- Employeo Banolit Erpanrea
"-eil+-oiH-!a*i-,-_,"-vv,444,(rtx9,444,0e41fls,324
237,743tt7,618
7,692,576
--Q12,350
E,068,r/0
7,692,576
--i;rs*5di------ ii#"!*!404,e260J2,35O
(7,289,56s) (1,139,168)
PARTICULARSAa at
Wag6s & Salary-Salary staffStaff and [abour w€tfa€Contibution to ESIConl bution to EpFProvision for clatuiv
Total
l{ot 23- Fhnce Co.t
3|!t llarch, 2014 3l3t arEh,20t321,596,25,275,O14
9,'129,793751,636177,63635.t,970504,299
7,859,901615,320140,767269,222
PARTICULARSInter*t erliiii
Al.tsl.tM.rch,20tt
A! at3l3tlilarch,20t3
- hterest paid inlo BankTobl
FoiPreet Remedi* Pvt. Lti.'
/ ,v'zJA-o{u*
Director
(/K\qs?\"J,\3
V'
For Preet medies
Di€ctor
Note 24- Adnn. and Oth6, axporses
;ARTTCuLARS ------------- Aa at A! rt
- Direclor (Domestic)- Diteclor(Foreign) 304/19 217.034- ofh€r 44€,3s4 ;dr:;;
Bank Chargos 314.517 oi. j"iDnedor Remun€rarion 146.0a2 ;;; ;;Insurance Exp€ns€s 2, t6o,oo0 u iii'#,iP nling and Starionery 314.699 -i;;.;;;Eueness Promolion 797.910 6$.343oiscounts and deductions 74,700 ;;i;Freight & Cadage Ourwards 925,034 ;;;';;Labour Expenses 1,433,972 Z,tggl,O52!eg6l& prcr€ssionat chage 9s.9s8Forut|on conlror Exp€rses 678,632 650.566Foslaqe and teleoah 70,450 75,040Festjval Expsnss; 14g,s41 a, aalBoarding & Lodging Exp ,!r'c 480.268 fi;;;'€|ephons
Expenses 920Repairand nair enanco- 527,3s0 s6:;;-computer i69,681 41g,32s
Charily and Oorarjon 137,644 rrrmnMsc. Expenses 7O,oOo ;;;;Office Expsns€s 25s,742 41r:,4;Ottics R6nt 66,693 anir)Forfeitur€ of Eamest d6posit 1,488,55€ t,ii,tdoRebete & DiscoL/nt 5OO,OOO ---Rale, fe6 & taxes 7,821 51.637Vehicle Running &Mainr 236,630 fi2,2,5seruaces Tax 502,760 285,086Securily Expenses 183,608 62;54,Pa€king Expenses 1,478,723 1,454:,;aaProcursment6nd Servic€ charses 7,u7 184Preriminary Exp€ns€s W/O 2,240Prodllcl Approval Expenses 16,057 16,055Auditfeo 25,000_ TowErds audrr
61,798 61.;9STobl
For Preet Remedies Pvt. iti,'
DiPclof,
For Preet Remedies Pvt, Lti.
/ . ' u---'o\./ar4a.Q
Director
PREET REMEDIES PRIVATE LIT TED. Note-25 OTES ONACCOUNTS
.t Accounting policte.: (AS-l)
The company has acropted mercantire-syst€m of ac@unting r€coginzing incoms ano expenditure on a@ruar basisMile catculatjng the income tor_tJ: J:ar T.he
.aqTunf. "r" pr"p"ri"i in i-iJic cost convenlions and mal€dalvcomplying with lhe mandalofv ac@unting srandards i""r"d bi aili;il ;;;hartersd Accountants of India. Th;sjgnificant accounting poticteE to owed by the Comp""V
"r" "l unO"i...-.-
' "a) Stock in Hand: (AS.2)
Th6 stock of Goods in hand as o-n 3r5tof.March,-2o14are varued in accordance wlh the revisod As-2,varualionof Inventodes',jssued by tCAt accordingty the meihoO of u"lr"tioi "aoifi "11
j" uno"r,-A) Finished goods- at tower of Cost or Net restisabl€ vatue8) Raw materiat & packing materjal- at cost pdcec) work in progress- atmaterialcost plus a;poriioned maunfacturing overheads
b) Prior portod & Extra ordin.ry items and Chang$ in Accounflng poticles (AS€)
There b no pdor pedod or extrs ordinary items which needs lo t!€ disclosec, in the proft & loss accoLrnt seperatelvand rhere. is. no drange in anv arco,niing.poricy which h;; ";"i;;i-;;;;n ,ne fnanciar sliatem.nb and i;exp.cted ro b6 discrosed in accordance with the Acco"rri"g "L;d;i iAii)-Llong ro oisctosure of prior periodI Exlra ordinary ll€ms and changos in Accounting eoricie! norirroa ljur-#eiirat Govemment in exercise ofthepowers confened by sub_seclion (2) of section 145-fo t
" r"""_" iJr7"i. rij..
c) Oeprectation: tAS6)
Depreciation on a' fxed assets ha' been orovided on Mtten down varue in rhe books of Accounts as per tho ,"tesperscdbed under the Companies Ad 195d.
Revenue Recoglnition: (AS€)
Revenue is rccognjsod only when the dsk and rewads nave been lransfeared.
Fix6d Assets: (AS-1O)
Fixed Assets are siat€d at cosr of scquisirion and at cost rerating ro rhe acquisition and instaration of fix€d assetsar€ caDilalisod.
Retiroment Beneflts: (AS- 15)
The provisions of the Emproyees slate Insurance Act, lg48 and Emproyees provident Funds & MiscellaneousProvisions Act. 1952 are applicabte to the Company.
Related Party Dbcto3u|ca : (AS-,tg)As requir€d by AS-18, lhe inlormation is disclos€d regarding ihe transsctions done with rctated pan|es.
Accountlng for Taxea on Income: (AS-22)
If-l:?":l,l"S gl91T 'rrccounting for Taxes on lncome. issu€d by the rhe Instlule of Chanerod Accountanlsor hora |s appfic€ble lo lhe concem as th€re is liming difiercnce bet/veen Taxaoto Income ana-Accounting tncomigiving rise to def€red tiax 6ssgt or liablily as lhe cas€ may oe.
|mpalrm€nt of Assob: (AS-29)
The comp.ny on an annuarbesb mak* an assessment ofany Indicator that may read to impairment of ass€r6, rfany such indicator exist6, the Company eslimate lhe recoverable amount of ih" lsJ"t*,'it sr"r, re-ueraUl"amounl is less lhen lhe carrying amount. then the canying amounl is reduced to its recoverabje amount by featinglhe differenc€ between th€m as impairment toss and is ch;rged to the stateme"r "i
p,iii ""J
i*".
h)
For Preet Remedies fut. Ltd.
lr*,;"'Director
d)
e)
s)
fr$K"--Ty
For Preet Remedies Pvt Ltd'
-N- Dircctor
i) Contingent Uabliti€s: (AS- 29)
1 No conlingent riabriues are determined for and/or against the fm for whidr prcvisioh are required ro be made.2 ln the opinion of the management all lhe ctoruinarvcourseoruusinesi;il;G;:,:,:ll""Hffif;*,]ffiil$i'J"Jml*" "
*ruo on rearisarion in fte
4
6
7
Debjl or.credft-barances on whatever account! are subjsct ro confimation from rhe parlies as such, their effect onpronr and bss accounl csnnot be reflected.
Figures have been Egroup€{ur€araanged whenever necessary lo make them comparabre wilh the fgurc ofAs per AS-22 'Accounting tor T6x€s on Income , D€feled T€x.Liabilities amounfing to R6. 1,69,650 has beencredited in the bookE ot accounts as defer.ed .l
r"-'"r",aa""Jo"p*ti"i"!pi""Jii;'ililffiTli"gfl:9ff:nfr,I""lTfftion o'".geJar p;i
The Company operales in one business segmen viz. phamaceutic€l Fonhulations,
Notes 1 to 24 form an intsgral pan ofu€ Batance sheet and Statement of profit & Loss,or th€ year ended 31sl ofMarch, 2014 which are duly auth€dticated hereto.
ForSHIV GUPTA & ASSOCTATESCHART lianaglng Dir€ctor
For'Preer Remedies Pvt. iri.'
'/*.1)-oi€ctor
DllectorD
FRN
(s.K. cPROP.
. 1{O. 085397
PLACE : CHANOTGARHDATE : 0'1.09.2014
Point2S (g) of notes on accounts
lEff Iff y^?li""iffil"lH''."
A Names of related parties
companiesf irmiiiif Efr ?iE6E6i'if !1 Uompany are able to exercise control or
- Shiva Traders- Ultra Chiron Heatthcare private Limited- Frectstoh polymer- Zen labs India- Preet Plaslic Industrv- Preet Packing solutions
- Mr. Sanjeev Singal- Mr. Harpreet Singh Kalra- Mr. Satish Singhal- Mr. Sanjay Dhir
(Notq Related party retationship is as identified by the Company and rclied upon by the Auditor)
A T;l"ctiotr" ca.ried out wtth related parti€6 roferred in I abova, in odtnary couns€
Nature of Tranliiii6i ih Rs.Yoar endod 31.03-2014
Year ondod al.o32013
PurchasesofGd6ElEiE-iGGriat-{Jeferrod In A(t) above)
-Ultra Chi-Precisior
ad€rs 4,472,821 .00 7,637,637.00' u | .nsamuare Pnvale Lmfed
I povmer 22,485.824.00 1't0,409,601.003,4y.872.00 2,530.137.00
:! rEEL -rdsus trrauqry378,493.00
2,662,859.00 't.749.343.00
sale of coods and MardrIJJ?EEEE-ii-A('l) above)
-vNa vrrrel nEatrncare Fnvale Ltmited 1-412.300 00 1,267.150.00267,380.663.00 1U,288.27A.OO
Exp.nsos (referod In A(2) above)
2,160,000.00-Directorstemuneralion- 2,160,000.00- Salarvlo Mr J S Kak 720,000.00 720,000.00
Figures in Rs.nam€ or lne Pany Year onded 3l-03-2014
Year ended 3t-03
1,488.3t5€hiva Traders 90.953.Ultra Chhon Healthcare Frivatetinrr.ted- 9,53,956 18.892-Precision polvmer 11.21.175 500,705:49n labs India 10,79,58,909 69,572,424.Preet Plastic Indusit u,1ao.PreetPackinosoiutions-
689.146 1243AA
have signlfjcant infl uence
2 Key Man€gement personnel
For Preet Remedies Pvt. Lti.
/ ,t-.-V4*eDircctor
t'tame ottre retabd plrtiEi
\.il\e.:
;nl-t/.:Y,'lch,h\Y")'r
C Balances wfth Relatod parfles