Download - AN ISO 9001:2008 CERTIFIED OR ANIZATION 1
AN ISO 90012008 CERTIFIED OR ANIZATION1lt51 CORAL LABORATORIES LTD ~ aqaf)NTERNATION
+CORP OFFICE 38 Patanwala Compound Opp Shreyas Cinema LBS Marg Ghatkopar (West) Mumbai bull 4 0086 India Tel 9-22middot250052462500820825005245 Fax +91 - 22-25004893 E-MAIL aCCQuntscorallabcomWEBSITElwwwcorallabcom
30th Ma 2016
To The BSE Limited Corporate Relations Deparlment 1 Floor New Trading Ring PJTowers Dalal Street Mumbai- 400 001
REF SCRIP CODE NOS24S06
Subject Submission of Audited Annual Financial Results of Coral Laboratories timited for the Quarter and Financial year ended March 312016 along with Audit Rep rt and Form-A
Dear Sirs
Pursuant to Regulation 33 of the Securities and Exchange Board oflndia (Listing obligations and Disclosure Requirements) Regulations 2015 (Regulations) we enclose hereto fi r your information and record the audited standalone financial results of Coral Laboratories imited (the Company) for the Quarter and Financial year ended March 31 2016 duly approve by the Board of Directors of the Company at its meeting held today ie on 30h May 2016 al ng with Form A (ie Unmodified Report on the standalone Audited Financial Results of the C rnpany for the year ended March 31 2016)
We also submit herewith Audit Report dated May 30h issued by the Statutory AUdito~ of the
Company on the standalone financial results of the Company for the financial ye ended March 31 2016 which was duly placed before the Board at the aforesaid meeting
Thanking you
~J)~~ Limited
V~vin B Doshi Director (DIN 00232287)
Encl as above
Regd Off ampFact 3085 Village Post Poicha(Ran) Taluka-Savli Baroda-391780 crN L24231GJl997PLC031669
--
I
CORALLABORATORIES LIMITED REGD OFFICE 3085 VillAGE amp POSTPOICHYA(RANjTAlUKA SAVLI BARODA GUJARAT-391710
CORPORATE OFfiCE 38 PATANWALA COMPOUNDOPP SHREYAS CINEMA lBS MARG GHATKQPAR(WEST)MUM6AI-400 086
Website wwwcorallabcom Tel 22-2500524546 tiN U423G997PLC031669 Emailld tstoraJlabcom AUDITED FINANCIAL RESULTS FORTliE QUARTERAND YEARENDEDMARCH 31st 2016
5r No
Part -
Particulars
1 Refer Notes Below
Income from operations (a) Net salesIncome from operatlons(Net of Bxctse Duty) (bl Otheroperating income Total Income from operations (Net)
2 Expenses (a) Cost of materials consumed (b) Purchases ofstock-In-trade (e) Changes In inventories of finished goods work-in-progress
and stock-In-trade
(d) Employee benefits expense (e) Depredation and amortIsation expense (f) Other expenses
Total expenses
Profit from operations before other Income Finance costs 3
and exceptlonalltems11~2)
4 Othel Income
bull Profit from ordinary activities before
finance- costs and exceptional kems (3+4) 5
Finance costs 6
Profit from ardinall activities after finance costs
but before eJtCeptlonalltems(5-6J 8
7
Exceptional Items
Profit from ordinary activities before tax (7-8) 9
Tax Expenses
lal Current Tax 10
(b) Deferred Tax (c ) Short prOvision
11 Net Profit from ordinary activities after tax(9~10)
12 Extraordinary Items
Net Profit for the period (11-12)13
Paid-up equity share capital (FiKe Value RsIO pershareJ
14
15 Reserve excluding Revaluation Reserves as per balance sheet of previous accounting year
Basic and Diluted Earning per share In Rs loot 16 Annuallsed)(Before and After extraordinary items)
Quarter Ended Year Ended
31032016 31122015
IAudited lUnaudlted
231461 1B0778 7305 17421
238766 198199
134564 110605 2412 0
1848 -1677 15436 14145 - 3170 4545 41305 26267
198735 153885
40031 44314
12905 6695
52936 51009
185 089
5092052751
00
52751 50920
1950015700 279 300 067
36705 31120
0 0
36705 31120
35726 35726
0 0
1027 871
31032015 31012016 31032015
fAuditeltf) Audited IAudlted
179437 732555 574907 7178 37608 19300
770163 594207186615
93841 443240 351566 4491 2412 4491
7395 (2744) (7189) 11647 51285 42622 14141 17305 25668 27715 112750 80683
159170 624248 497841
14591527445 96366
289268052 25939
35497 174841 122305
137 825 206
35360 174016 122099
0 0 0
35360 174016 122099
8755 49200 25755 342 779 642
067 26263 123970 95702
0000 0
26263 123970 95702
3572635726 35726
6660660 554996
3470735 2670
1)Above Audited financial results were reviewed by the Audit Committee and thereafter approved by the Board of Directors at their meetlng held on 30th May 2016
2 The Company has onlv one segment viz Formulations as per Accounting Standard 17 of the Institute of the Chartered Accountants of lndla
3The Boardof rnreetors have recommended dividend 30 le Rs3- per share of the face value of Rs10- eachyear 2015-16 4) The 5tatutory auditor have carrfed out a 5tatutoryAudit of the FInancial results of the Company
5) Previous year figure have been regrouped wherever necessary
6) This statement Is asper Regulation 33 of SEB(lstlng ObligatIons and DIsclosure nequtrements) Regulations 2015
7) The Copy of above result is also avallable on the website of the Company LewwwcoraUabcomandthatonwebsitrryE Ltd tewwwbsefrdec m
For CORALLABORA[ORI_LIMITED
r-JL ()1fi ~ Date - 30thMay 2016 ~8005HI Place - Mumbal OfRECTOR
DIN 00232287
2
CORAL LABORATORIES LIMITED
REGD OFFICE 3085 VILLAGE amp POSTPOIYCHA(RAN) TALUKSAVLIBARODAGUJARAT-S91780
CORPORATE OFRCE 3B PATANWALACOMPOUND OPP SHREYAS CINEMA LBSMARG
GHATKOPAR (WEST)MUMBAlmiddot 400 086 CINL24231GJ1997PLC031669
Website wwwcorallabcom Email Id ltsleorallabcom Te022-2S00S24S46
STATEMENT OFASSETS AND LIABILITIES ASAT MARCH31 2016
Particulars
A EQUITY amp LIABILITIES
1 Shareholders Fund (a) Share Capital
(b) Reserves amp Surplus
Total-Shareholders fund 2 Non-Current Liabilities
al Long Term Borrowings
(b) Deferred Tax Liabilities (Net) (c) Other Long Term Liabilities
(d) Long Term Provisions
Total-NonCurrentLiabilities 3 Current liabilities
(al Short Term Borrowings (b) Trade Payables (e) Other Current Liabilities
(d) Short Term Provisions Total- CurrentLiabilities
Total-Equity andLiabilities
B ASSETS
1 Non-Current Assets (a) Fixed Assets
(I) Tangible Assets
(ii) Intangible Assets
(RsIn Lacs)
CurrentYear March 312016 Previous Year Mar h
Audited 31 2015 Audited
35726 357 26 666066 5549 96
701792 5907 22
0 shy9608 8829
1890 1979
1721 1194
13219 12C 02
3736 13194
96904 62 99 10926 4 56 68136 40 81
179702 12 43 894713 724 54
180456 189 10 396 19
(b) Non-Current Investments 45773 11 81 Ie) Long Term Loansamp Advances 22203 20 24
Total-Non-Current Assets 248828 221 34 Current Assets
(a) Inventories 132866 104 18
(b) Trade Receivable 278071 247~01
(e] Cash amp Cash Equivalents 89090 66 65 145858 84 36 [d] Short Term Loans amp Advances
(e) Other Current Assets o o Total- Curent Assets 645885 5 282
Total- Assets 72 154 894713
For Cora Laboretori 4ited
~(10lt1gteuror
Date 30th May 2016 Navin B Doshi Pate Mumbai Director
DIN 00232287
AN ISO 90012008 CERTIFIED OR ANIlATI6N
I~I c shy aqa~ORAL LABORATORIES LTD ~)NTERNATICNAllaquo t CORP ~FFICE 3B Petanwala compounc-onp Shreyas Cinema LBS Marg Ghatkopar (West) Mumbal- 4 0086 IndIa
Tel +91-22-200052462500820825005245 Fax +91middot22-25004893 E-MAil accotJntscorallabcomWEBSITE wwwcorallabcom
Form A (For audit report with unmodified opinion)
1 Name ofthe Company CORAL LABORATORIES LIMITED
31st2 Annual financial statements for the March2016 year ended
3 Type of Audit observation Un-qualified
4 Frequency of observation Not Applicable
5 To be signed shy
bull Managing Director
bull CFO
bull Auditor ofthe company
bull Audit Committee Chairman
For CORAL LABORATORIES LIMITED
4 IKISHOR R MEHTA
Whole Time Director I I
(MEETA SAMIR SHETH)
For Shah Sanghvi amp Co Chartered Accountants Firms Registration No 109794W
~ (Jitesh P Shah) if))0 pjJ i eto Membership No 34010
For CORAL LA A RIES LIMITED
I
RAJES R RIKH 1 Chairma f Audit Committee
fI
Regd Off ampFact 3085 Village Post Poicha(Ran) Taluka-Savli Baroda-391780 CIN L24231GJl997PLC031669
AN ISO 90012008 CERTIFIED OR ANIZATION
~ C ~aqaiiI ORAL LABORATORIES LTD ff)NTRTIONAL~~
+gORP OFFICE 38 Patanwala Compound ODP Shreyas Cinema LBS Marg Ghatkopar (West) Mumbai ~ 4 0 DB6 India Tel 1-22-250052462500820825005245 Fax +91 - 22-25004893 E~MAIL accountscorallabcomWEBSITE wwwcorallabcom
ao Ma
To The BSE Limited Corporate Relations Department 1st Floor New Trading Ring PJTowers Dalal Street Mumbai- 400 001
REF SCRIP CODE NO524506 SUB Declaration while publishing Annual Audited Financial Results vide SEBI Circular
25th May 2016
Dear Sir
With reference to SEBI Circular dated 25th May 2016 the Company hereby declares th publishing the Annual Audited Financial Results it is found that the Audit Report is free qualifications and is of the unmodified opinion
The Statutory Auditor of the Company is having no Audit Qualification out of the Statuto
conducted for FY 2015-16
For Coral La~ories Limited
m3~gt~ Navin B Doshi
Director (DIN 00232281)
Regd Off ampFact 3085 Village Post poicha(Ran) Taluka-Savli Baroda-391780 CIN L2423IGJ1997PLC031669
2016
ated
t while f Audit
y Audit
Shah Sanghvi amp Co CHARTERED ACCOUNTANTS
2 Samarpan 26 Haribhakti Colony Race Course Circle Vadodara- 390 015 Tel(0265) 233 7064 bull Fax(0265) 235 4386 bull E-mail shahsanghvigmailcom
J P SHAH MC rn LLBFCA
uarterl Financial Results Com an Pursuant to the Re ulation 33 of SEBI Requirements) Regulations 2015
To
The Board of Directors of Coral Laboratories Limited
We have audited the quarterly financial results CORAL LABORATORIES LIMITED f r the
quarter ended 31032016 and the year to date results for the period 142015 to 313 016
attached herewith being submitted by the company pursuant to the requirement of Regulati n 33
of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 hese
quarterly financial results as well as the year to date financial results have been prepared n the
basis of the interim financial statements which are the responsibility of the com anys
management Our responsibility is to express an opinion on these financial results based n our
audit of such interim financial statements which have been prepared in accordance wi h the
recognition and measurement principles laid down in Accounting Standard for Interim Fin ncial
Reporting (AS 25 Ind AS 34) prescribed under Section 133 of the Companies Act 201 read
with relevant rules issued thereunder or by the Institute of Chartered Accountants of In ta as
applicable and other accounting principles generally accepted in India
We conducted our audit in accordance with the auditing standards generally accepted in ndia
Those standards require that we plan and perform the audit to obtain reasonable assurance about
whether the financial results are free of material misstatement(s) An audit includes exam ning
on a test basis evidence supporting the amounts disclosed as financial results An audi also
includes assessing the accounting principles used and significant estimates ma by
management We believe that our audit provides a reasonable basis for our opinion
In our opinion and to the best of our information and according to the explanations given to us
these quarterly financial results as well as the year to date results
bull I
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THEMEMBERS dFCORALLAtJORA]dRlJJiS UM11ltfi
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MamtgemeJifs ResponsIbility for the Fi1ancialStiltel11enis
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ANNEXURE TO Tm INallt)PENJ)ENT AUDJ[ON~S REPORT OF E~N frATE ON T1tEPiNANC1AL Si1AJIEMENT OJ CQIlAL LABORATORIES LrDAS ON 31st MARCIUtJ16
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MilllliJlllmelts resPQDsildUty pound01 internal financiaconltrols TheG()nlpanis Managemllnt is responsible fQr estahishlngmiddotand maintaining infernal fi cial COOtl018 based 911 the ~l1tll~ltar CQl1tfetI over tltll~ncent1a1 te~Ql1iitig ctiteril established by the centomp~yenc(m~qeringtbl ~ss(1)tillmiddotc)mPQitents of iotefllltl contl~Ql Stated intlte iJuidaftce middotote on Audit of Internal i1il1Ji1Jlll Cpl1trolsmiddot Oyer Financial RepJfilng issued hy the lwtitut Of Chartered ~CCOUl1tJil1sOfln~Ha Thllse responsihillties include the aesigj itliplernet1tatiooand maintenance Qfldegu~tll illteliDlIl tinancillleontrol~ that were Ii1perafing effilctivtll) poundor ens ring lh~ mdlir~y amJ e$(llilentean1gcfoflts business includlngadherettce to 1iIle C(it11pam~s polies th~$ilfegijarltt~gQfits a~~tslhePreventiQl)and ihttTllltion oJftaudand errors theatollr and GomplltWs$ Iilf tlte accounting records aliittimelyprepamtion oftellllble nf1andial informa on ll r~llllt~tl lIltl~r The Oornpanies Act2913
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OUtt~pQMI])i1I~~ is to express-an opinion 01) the JQIJiI1mys tnternaltinancilt ellfittQI~ Iiet financllil tcentlloltillg based-on ()l1rjl~lt We condl~ed olltalllit in accordance with tire Gnld ee Noteon Audit of1lntemalllnllnllttlcentonttoJ~ Over FiMncial RePiltiing (nthll Ollidimell 11 tel) and the Standlttrds 01) Audltingls sp(cifiedurrder section tfpGaQ~of Campanili A~ ZOl ttl the el(tentapp1icable lOan 1I1141t lfl1tetnaI tinancial contrllls hothiapp1icahttl to anaudit of t~(lTIaJFinanciaICmttols G-poth Issued by theIllstftote (lfGhlllftetedaceoulttants of dia thoswStlDdar~s 1ll14 6t11qlIDee bil~te require that we cornjiiy wUll ethielil tequiremens and Ian Mdpetlftrm the audit tJJ obt~in r~llSPlnbleassutanee middotabolltihefFtet adequate itttetnal flnlleial co(lttols 1yenerlnajlcialtePotiingwlliScentsJIj))lfsAeGland ntail1tllined 1I11cli Ifsuch controlsape ated middoteffectlvelY in all material respects
bull
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Durandft l1Vollrlls perlbtltting procedures to obtliln alildit evidcentnee abaJlJ tbe acleqpllCY f the I itiUltnal firtaMlill eorlttols systemover fin~noialreJlottlgnl Ilifir ape~qtingetfeQtlvllrjegt bull Our IIIUt of ititerl1idfJfI~~laJ controls overflnanclalepol(ipg iPgl~ed QPtainlng an un(lluSt nding of lltetnli flltllclltl 0001t61 crVllt fiMiclalreponingilssesslng the llsl fuafil mater]we less I exists and testlll~ and evaluatln~ the design and Qperllting effeclveness ofimernlgonirol hasell I
filn the assessed risk Ihe procedures selected dllpenlt em ~eaudi~ts J1Icgtnent iMlqillg the 1 tassessmentofthe risks otmaterMmisstat~bJ~nt oftlteltnregelal$at(lfllenIS WletJ1~rd1letl fiadd [
ererrors I Ii
r IWe helieve that iheatldit eyjrlencewe have Qbtaineil issuff1cientan~jj~grl1ptiate to prli idfla
basisrOT OUT audit opinion on till )I)teQlJl fhllmda gont~ols systemllVeTtlnaneial feporling
MeanlJlgofinternl IanelillCQltr01QyerUl1llJlliat rlpllrting
A cOfupanYs lltel1l1al gullnollli lt)l1tQloyer ltmUcialreportlng isaprocess designed til pr vid reasonableessuranee regardlng the relilibJHty of fluanel] repottng and the preparati It M finanelal sratllllli)mts formiddot~tlrnal p~rposes Inllcllordanee wlthgenellllly llcentcentepted aeeou tlll8 pdnclple) AcompallYs intllmatiinaneiaJ control overnnllnoilll rep0riihll inclUdes tliose po id~s mid ~Qcedures thllt (I peJtllhl to tile iUlll)teltMPe Qfrecouds that ill reasonable tail lccllrately and fair]y remet thetransll1ltions and 1iispOsi~ins of the assets of the company] (2) pO~tde reasonable assuranee thattransaptions arereeetded llsneeeSsaxy to pei1tilit preparllti n of fiallllcentlalc statement in lIiCetltdlnce With gellera115aecepted acootlJitingprineipIes and tltat re~Pts ltutA eXlllndltnres ofthe company arebeingmMeoily ifiaecordaRee with eutheriza lOt$ ofmMagemetrt and directors iJFthe eomgtlllyand (3~ providereaslilnahle assnrance rllla liP$ p(llveltdon 0rtimely detectlQrtof unauthorleedacqulsitionuse oedlspositlon of tbe CQltlp nys assenrthal eouldhave ltiltatllriaeffebton thefihailltlialSlatemenls
Because of the Inherent litnitalion of internal filmnci alIlQIWrols over finan(lt rltpoct1g inolllaittll lJIe possibilitY at collusion or ~mpropet lUanag~1lwrioyenel1ViltteQf cllntrltilil mat rilll mlsstatement$dge tll IJTOforfrlludmayoccuraniltr()1 bed~teQjtelJ AIsli11 projections pi any evailuatioI) of the intemaltrtln9i~rcol~olsYOllr1tllancMrep0rdngtofilttlr~ period are subJe t til the risk Pqlt the lntemllF flnMiiaIQQt1tt61nVerfiflalloiaF repotlfng may become lnade-ate l1eellllseof chaflges lnQQilcrlflqnS~ or Hit tile degJee of co1tlitianClgt with (he poltcie or prQQurcentsmalideteri0tale
JP SHAH MC(i bull I~ajFcoA~1~~~~~
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ItlotlXQpittiell tbeC(itlf~aoy has ili~Lrnraterial respeetsen adiJqual1l internal financlllloQt1 ~ystetnltlYer fihattclllL riepo~llgandSUllltnte~111Jl fll1ancial cDntroSoftll UnatlClalre~ottlnll operlltinlplffutlvely- asmiddotlitMargb 312016 based ontheInternal conlJtdl overll11aileililrtpe jr i1titcrlilllsliWlisled IPY tpeCpmpllllY considerlng the esSehtialcompilmnts oflfittmalconttol stated ill theGUidanceNpteQll A~ldlt l)flntemaIFmanoiliIContrQIs Ovw IFIllanelal Bilil1ortin issued h)itbl Tnstitute QfQllatterelif Accountants OfIhdia
Fo~ urd on pehalf of SBAll SANtillV AND COMPANyen ClIAJIXpoundRED ACCOUNTiNTS leAl RlJGNO 0109794W
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) May 2016 PtAC1iMlItnblli
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(ltW~tlii1l tl1 inabOYllttlte 1lu(jitQrSi repenofeven dateto tbe J)lcentrtrberso CORAL LAJ30RAOmES LJMl1EDoillne fJlancentjlll$tiitetnllnt~ 10theyear ended 3102016)
1 (Ili)TlIeiZOmpEllJY hallmaintairted PrQper records showilrg ttIl patliieulllsihelual Iii qllllti~lie lt1eWrsand $ltu~tmnQfFhled Assets
(b1 1lllt~ml~ets hll5ic b~nphysi~aIIverified by thel11anllgelilent at teasnnilil intervals No mllte1lll1dJScentrcIlllti9ies werenmmed onSlich verlfiGlftion
(Q~ Inourqpilliouaml apcoclIhgtotlte ufol1matian andexplanationgiven to us th titled~ds of immovable properties are held in the nameofthecomp41lY
ii Plilystcalvtlilneatiol1 ofInventoryhas beeneondqcjedat reasoMbe ntetliaI by managcentli~lit i
ilhdno D)llrerMldisetepllnPw WrenotilleaOI1swelvcdficatlon
m kltpcptding tothe illf01Qlatkm and exptAAatilln given to IIgt theltompltlyen hM 11llgtlltltel ~y
lolllS secured or lnSee1lfed to ~llml1anleS flttfisUmited liahilitY IJ_erlll1ipsootnlf ~arties covered lre~lsternlaltttlaquoineil ~s 189 afthemiddotAct I rti view qf the ilhcfVe prqvlsiQls of clause 3 (iii) (1t)GD) and 0) are tOt llPpJeable to the IcollJlany I
iiV Inlllllotiblbn EIlJd lcent(Ij)tlmg to tnfprtrfatiPltliftd eXlfl1l8U0l1sglVeii tqJ~fbelll pany lJilll in
respeot ot IIlllaS flJltes1ltiilentsgualantees and secUfty prolvlsI0lils l)Qmpliedwith s tlQraquo 1783 and sectlonl116 oil1he Cllrnpanics Act El013
v J1lording totliliWfol1l1~tiQlJandexplanatiangiVeinp ulI the CltWIpany htls not eeepterl IlnY
III QepQsitsIIencethe jprcvlsioilsofclause S(II lUe notappllcableto the company
Wi hlloyenelioAdly tevleyltlithcent bollkSlgtpound acentcentPllllts maintained py hilc0mpanyp ampiJool to the j rule~ made by theCenmlaquoi J3QVllmment of India Themaintenance ofcost reco (Is has beep II ptelicdveduls t411(j) of l~e Act anq We lUeof the qpim1l) that primaflcil tIt 1ll1eseribed
alllloUlilts llItllreeords navcentbeen made anilihaintafneQ Wemiddot middothavetrot hOWllYer eadlltaiecl eliiUiflfilltionQftherecords Withayenlew t1deiennllleWllitthlj they are ilCCllratetit co pllt~
ViL (lJ) AeeQOOing to the OQoyenstlid Je~otds ~produeed aildegtltlU1linedby Usin l1ord41loe With ~lIetmlyen~llted AudltfrlgPta411ceslnJndi1J lihd ilsQmanagemeht representation unQis)Iuwd statiltQqdu~s intespe~ of lrovfdentlbnd lemwloyees Sfatelnsmilnce lneltgttne t SilWs tax Se~leela)(CUjtotfi d~~ ~xillseifaJY Vii1tlekiaed fax CeSSllnd ltlth materialsl qtoty dues ilppliealiiletaithas beelilXegularly depositeClwithaiproptiate authorities
--------------------- -__--------~_I
J PSHAH Me mLUtFcA
2middotSamarpltlnmiddot~aililad~~lIli Colony RllceCou~ ClrclQVadodarimiddot390Qt5 Tel(Q26S)2iMOalt Faxi(O~e5)23S~B6 middotErniJil Shahsar9hVigmailrom
~tl AccQrlingto the records of the company the disputed dues in respectofexc] e dutyof Rs ~8$i ls ~re~i())illi YeartslS561acs)setvicetax Rs nil (preYousyeal Rsnit) and sales tax Rsml ~rIlV1U~ ~emiddotat RJgti lil) income tax as nilprevions year Rs nil ) as at TIiar h 3 I 2016 hallenlll heen deposited WiiiliL appropriate authorities ilrtcl no prevision has been made for the same
St Nmueof fue Name of Amount Peded to which the FomID where 11(jmiddot istatllteJJlleSmiddot ~Si in ameunt relates dispute is pellding
Lacs) OfJ)he centrl1 tIQi~c IS56 2(Olmiddot032003middotQ4 Ik SUptCU1e centbm
ElIcentise~ct t944 tgtuti 200405 iMewDIl11 I _
]houtQPinioll and acoofilittg to theinformatlon andellplanatigifgJYcn tous anlil tbllljoolt$of acebunts Verified by us the company has not4et1lllt~ in liepa~tllnt of dll t~ tIJfanciil1 instit1ltQnbarik((joVCll11llllnf 01 dues to tebenwe hold~
is llet iufilrrnaijlJugivln to usno 1111IneywaSnilsedibY way 0-pound initiaipubfieoller orfurther i J1ll1ilfcentofe~ (in~Iuclingdebt lnstfuments) No term loaasarelfliseobiy thecompafiy duxillfl the
-1 year
amp Durittgtlie ceurse ofour ~xarniWltlonQtbotisiofacCOJIDt~olnrled in acentcentordte with tb~ Olltetaly Aqcepted Al1diting Standards 1m IJldi~ wehll~e nllther (jl1me lI(rossmiddot InstlWice lf fraud on er h~ the oompany either noticed er repotied dmng the year nor 11 ~iVewe been Il1formed ofampuch lease-by themanagemetit
xi Acent~9r4ng to int9rrntttlOn and elltpIanatlon g1VIltto U$ and ltbcent books ilpound acoilitts ~~finlamp b~middotI1lS the mnnagerlllfrettlJIDeratlonhl becn pard pr pr()~idel incompliance With SeetiQn97 readwith Schedute Vto theCompanies Act 2019
Thecompany is nota Nidhi company hence th~ prQli~~OIli cr$ lJaUl111 3(xli)aIlnQt alJPiil)aamplil to the Cqmpany
xiii All transactians with Jh~ related PaJtties ate incol[fp-liancj wi~h seetion t77 and 1880pound -Companies Act 2013WIJcenttcent appIii1ajfe and the details haYe been disclosed 11 he 1fillcillii Statements etc as required hytheapplicableaceountingstoodards
x~v According to infermation-and explanatlon given tlJ Wland the lJQdks ofaccounts j etified by us the company dutifigtheW~lthaSlilJtlllade an preietefitill1 liflbt1tlent orprivate plementqf shares or fully or partIlbdiverti1ile debentures ieJ1l tl1lprovicention Qfclavse $ xht) are tot apptlCllheto companies
xv According to inforrnati0lande~Illanationgiven tous and the bQoksofaOcliUbts elffied by us the rompany has not epteted into any noncashtrensacticn withditelt0rs ot perijl) seomrcct64 Iwithit I
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FOR $hilr$llughviampCo (Clill~ered AeeQUUital1ts) ~~g No~r09794W
JISHAlt (IttlprietoF) Menihel1~)dJI NQ Q3461O
The ltompatly is Wilt req)1ired to be regl~tered 1Jniiletseetlo 4SrAllfthe Re~elVe
JP$tfAH m LIltECA
ank onndfa
--
I
CORALLABORATORIES LIMITED REGD OFFICE 3085 VillAGE amp POSTPOICHYA(RANjTAlUKA SAVLI BARODA GUJARAT-391710
CORPORATE OFfiCE 38 PATANWALA COMPOUNDOPP SHREYAS CINEMA lBS MARG GHATKQPAR(WEST)MUM6AI-400 086
Website wwwcorallabcom Tel 22-2500524546 tiN U423G997PLC031669 Emailld tstoraJlabcom AUDITED FINANCIAL RESULTS FORTliE QUARTERAND YEARENDEDMARCH 31st 2016
5r No
Part -
Particulars
1 Refer Notes Below
Income from operations (a) Net salesIncome from operatlons(Net of Bxctse Duty) (bl Otheroperating income Total Income from operations (Net)
2 Expenses (a) Cost of materials consumed (b) Purchases ofstock-In-trade (e) Changes In inventories of finished goods work-in-progress
and stock-In-trade
(d) Employee benefits expense (e) Depredation and amortIsation expense (f) Other expenses
Total expenses
Profit from operations before other Income Finance costs 3
and exceptlonalltems11~2)
4 Othel Income
bull Profit from ordinary activities before
finance- costs and exceptional kems (3+4) 5
Finance costs 6
Profit from ardinall activities after finance costs
but before eJtCeptlonalltems(5-6J 8
7
Exceptional Items
Profit from ordinary activities before tax (7-8) 9
Tax Expenses
lal Current Tax 10
(b) Deferred Tax (c ) Short prOvision
11 Net Profit from ordinary activities after tax(9~10)
12 Extraordinary Items
Net Profit for the period (11-12)13
Paid-up equity share capital (FiKe Value RsIO pershareJ
14
15 Reserve excluding Revaluation Reserves as per balance sheet of previous accounting year
Basic and Diluted Earning per share In Rs loot 16 Annuallsed)(Before and After extraordinary items)
Quarter Ended Year Ended
31032016 31122015
IAudited lUnaudlted
231461 1B0778 7305 17421
238766 198199
134564 110605 2412 0
1848 -1677 15436 14145 - 3170 4545 41305 26267
198735 153885
40031 44314
12905 6695
52936 51009
185 089
5092052751
00
52751 50920
1950015700 279 300 067
36705 31120
0 0
36705 31120
35726 35726
0 0
1027 871
31032015 31012016 31032015
fAuditeltf) Audited IAudlted
179437 732555 574907 7178 37608 19300
770163 594207186615
93841 443240 351566 4491 2412 4491
7395 (2744) (7189) 11647 51285 42622 14141 17305 25668 27715 112750 80683
159170 624248 497841
14591527445 96366
289268052 25939
35497 174841 122305
137 825 206
35360 174016 122099
0 0 0
35360 174016 122099
8755 49200 25755 342 779 642
067 26263 123970 95702
0000 0
26263 123970 95702
3572635726 35726
6660660 554996
3470735 2670
1)Above Audited financial results were reviewed by the Audit Committee and thereafter approved by the Board of Directors at their meetlng held on 30th May 2016
2 The Company has onlv one segment viz Formulations as per Accounting Standard 17 of the Institute of the Chartered Accountants of lndla
3The Boardof rnreetors have recommended dividend 30 le Rs3- per share of the face value of Rs10- eachyear 2015-16 4) The 5tatutory auditor have carrfed out a 5tatutoryAudit of the FInancial results of the Company
5) Previous year figure have been regrouped wherever necessary
6) This statement Is asper Regulation 33 of SEB(lstlng ObligatIons and DIsclosure nequtrements) Regulations 2015
7) The Copy of above result is also avallable on the website of the Company LewwwcoraUabcomandthatonwebsitrryE Ltd tewwwbsefrdec m
For CORALLABORA[ORI_LIMITED
r-JL ()1fi ~ Date - 30thMay 2016 ~8005HI Place - Mumbal OfRECTOR
DIN 00232287
2
CORAL LABORATORIES LIMITED
REGD OFFICE 3085 VILLAGE amp POSTPOIYCHA(RAN) TALUKSAVLIBARODAGUJARAT-S91780
CORPORATE OFRCE 3B PATANWALACOMPOUND OPP SHREYAS CINEMA LBSMARG
GHATKOPAR (WEST)MUMBAlmiddot 400 086 CINL24231GJ1997PLC031669
Website wwwcorallabcom Email Id ltsleorallabcom Te022-2S00S24S46
STATEMENT OFASSETS AND LIABILITIES ASAT MARCH31 2016
Particulars
A EQUITY amp LIABILITIES
1 Shareholders Fund (a) Share Capital
(b) Reserves amp Surplus
Total-Shareholders fund 2 Non-Current Liabilities
al Long Term Borrowings
(b) Deferred Tax Liabilities (Net) (c) Other Long Term Liabilities
(d) Long Term Provisions
Total-NonCurrentLiabilities 3 Current liabilities
(al Short Term Borrowings (b) Trade Payables (e) Other Current Liabilities
(d) Short Term Provisions Total- CurrentLiabilities
Total-Equity andLiabilities
B ASSETS
1 Non-Current Assets (a) Fixed Assets
(I) Tangible Assets
(ii) Intangible Assets
(RsIn Lacs)
CurrentYear March 312016 Previous Year Mar h
Audited 31 2015 Audited
35726 357 26 666066 5549 96
701792 5907 22
0 shy9608 8829
1890 1979
1721 1194
13219 12C 02
3736 13194
96904 62 99 10926 4 56 68136 40 81
179702 12 43 894713 724 54
180456 189 10 396 19
(b) Non-Current Investments 45773 11 81 Ie) Long Term Loansamp Advances 22203 20 24
Total-Non-Current Assets 248828 221 34 Current Assets
(a) Inventories 132866 104 18
(b) Trade Receivable 278071 247~01
(e] Cash amp Cash Equivalents 89090 66 65 145858 84 36 [d] Short Term Loans amp Advances
(e) Other Current Assets o o Total- Curent Assets 645885 5 282
Total- Assets 72 154 894713
For Cora Laboretori 4ited
~(10lt1gteuror
Date 30th May 2016 Navin B Doshi Pate Mumbai Director
DIN 00232287
AN ISO 90012008 CERTIFIED OR ANIlATI6N
I~I c shy aqa~ORAL LABORATORIES LTD ~)NTERNATICNAllaquo t CORP ~FFICE 3B Petanwala compounc-onp Shreyas Cinema LBS Marg Ghatkopar (West) Mumbal- 4 0086 IndIa
Tel +91-22-200052462500820825005245 Fax +91middot22-25004893 E-MAil accotJntscorallabcomWEBSITE wwwcorallabcom
Form A (For audit report with unmodified opinion)
1 Name ofthe Company CORAL LABORATORIES LIMITED
31st2 Annual financial statements for the March2016 year ended
3 Type of Audit observation Un-qualified
4 Frequency of observation Not Applicable
5 To be signed shy
bull Managing Director
bull CFO
bull Auditor ofthe company
bull Audit Committee Chairman
For CORAL LABORATORIES LIMITED
4 IKISHOR R MEHTA
Whole Time Director I I
(MEETA SAMIR SHETH)
For Shah Sanghvi amp Co Chartered Accountants Firms Registration No 109794W
~ (Jitesh P Shah) if))0 pjJ i eto Membership No 34010
For CORAL LA A RIES LIMITED
I
RAJES R RIKH 1 Chairma f Audit Committee
fI
Regd Off ampFact 3085 Village Post Poicha(Ran) Taluka-Savli Baroda-391780 CIN L24231GJl997PLC031669
AN ISO 90012008 CERTIFIED OR ANIZATION
~ C ~aqaiiI ORAL LABORATORIES LTD ff)NTRTIONAL~~
+gORP OFFICE 38 Patanwala Compound ODP Shreyas Cinema LBS Marg Ghatkopar (West) Mumbai ~ 4 0 DB6 India Tel 1-22-250052462500820825005245 Fax +91 - 22-25004893 E~MAIL accountscorallabcomWEBSITE wwwcorallabcom
ao Ma
To The BSE Limited Corporate Relations Department 1st Floor New Trading Ring PJTowers Dalal Street Mumbai- 400 001
REF SCRIP CODE NO524506 SUB Declaration while publishing Annual Audited Financial Results vide SEBI Circular
25th May 2016
Dear Sir
With reference to SEBI Circular dated 25th May 2016 the Company hereby declares th publishing the Annual Audited Financial Results it is found that the Audit Report is free qualifications and is of the unmodified opinion
The Statutory Auditor of the Company is having no Audit Qualification out of the Statuto
conducted for FY 2015-16
For Coral La~ories Limited
m3~gt~ Navin B Doshi
Director (DIN 00232281)
Regd Off ampFact 3085 Village Post poicha(Ran) Taluka-Savli Baroda-391780 CIN L2423IGJ1997PLC031669
2016
ated
t while f Audit
y Audit
Shah Sanghvi amp Co CHARTERED ACCOUNTANTS
2 Samarpan 26 Haribhakti Colony Race Course Circle Vadodara- 390 015 Tel(0265) 233 7064 bull Fax(0265) 235 4386 bull E-mail shahsanghvigmailcom
J P SHAH MC rn LLBFCA
uarterl Financial Results Com an Pursuant to the Re ulation 33 of SEBI Requirements) Regulations 2015
To
The Board of Directors of Coral Laboratories Limited
We have audited the quarterly financial results CORAL LABORATORIES LIMITED f r the
quarter ended 31032016 and the year to date results for the period 142015 to 313 016
attached herewith being submitted by the company pursuant to the requirement of Regulati n 33
of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 hese
quarterly financial results as well as the year to date financial results have been prepared n the
basis of the interim financial statements which are the responsibility of the com anys
management Our responsibility is to express an opinion on these financial results based n our
audit of such interim financial statements which have been prepared in accordance wi h the
recognition and measurement principles laid down in Accounting Standard for Interim Fin ncial
Reporting (AS 25 Ind AS 34) prescribed under Section 133 of the Companies Act 201 read
with relevant rules issued thereunder or by the Institute of Chartered Accountants of In ta as
applicable and other accounting principles generally accepted in India
We conducted our audit in accordance with the auditing standards generally accepted in ndia
Those standards require that we plan and perform the audit to obtain reasonable assurance about
whether the financial results are free of material misstatement(s) An audit includes exam ning
on a test basis evidence supporting the amounts disclosed as financial results An audi also
includes assessing the accounting principles used and significant estimates ma by
management We believe that our audit provides a reasonable basis for our opinion
In our opinion and to the best of our information and according to the explanations given to us
these quarterly financial results as well as the year to date results
bull I
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r~~ llllpres~I~~gin ~lPfIMQli With the telllitemems 6fRegulati6fi 93 oithe SEBI ~lstingmiddot Obu~lifions anllLfiseloSUieRelrements) Regulations 2Ol5 in this~gatdllOd
(i~ ~veatIUeand faih1ewof thenetprP~tllOSS and other fulllwialmiddoti~rIlatioll illt the ~aplusmntet
ejtded 31~j)g016 astelJas the yQar to date reslIlw forihQ penoO from It2015fo3l0320lii i
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TO
THEMEMBERS dFCORALLAtJORA]dRlJJiS UM11ltfi
W~l1allt( aU1itildtall aCQgllpanying flilllJlthil sllllel111fits cOt C~LLAnOltAtQ~ESL all)
(tblCOrnlt~Y) Wlllt c(gtrnlprise the ~nlillWe Sheet lIsat3MQ31Z11t6 llie StalemeJilt egtpound JiltiJ Jlifid
ILGss t1leccash flow stlitementior the year then ended and a SJlmmlltyQf thee $lglliollt acentcentillptmg
poJlo10B dollier exphmaloryinrormation
MamtgemeJifs ResponsIbility for the Fi1ancialStiltel11enis
1Jhe CQinplIIlws Soatd 61 tlitel1tots is responsible for tire matters stated inSeailoli1i l34(5) at tire
tompllllllS Aot ti)l~ (the Act)wlth respect to tbepreparation oftlese finallClaistateme tstbat
Vjj a blo altd ilfltfr lew of tbll llnattcililpostibil and tiMrtal perfolmanlt(l fthe elf) any ll
1l(j(jQljIiti1l1l1 ~i~b tbcent ail~liiltirnt llfjjj(jiifJb~ gliJlrlll~ lIecellled irt IUdlalnciliiIlliigtlt ~centpliillliW
Standlllds sPecifrcentQ U1dQr Sle~u 133 IiIf tbe Aet rellO Witll RiuJe l or Ine Qcentmjllltries fAcelIrtts) Ruies20M l1hs responalbifloalso lnciudes rollintenlll~l1If lIdqUl)te I1Gcouutillg fllcentritsin
aecordance with theprovislous of theAot or safeguarding of the assets of the Company nd for preventing auddeteetlng frauds lind other irrloguJalities seltrction and applicationof ap priate
licCol1iltitig polipies maklllldliclgmelltSand eslljjjjjies that lite reasonable and prudent and
inipJementatiollalldmaJfiteiiillllte of adequate iUitemat financial controls that were 0 rating
Ilffeetively Cpr etlsudl1g Ibe 1IcentiUrllc)andeohlliletcentJl4SS0flheaecollrtting records releianl to the
prepatatiQn andll~IlS~htaiion (jfith~ fllraltltlillshttltiltttellts tllil give a true and fair view and re free
lhm material mis$llllemMtWhet1ietlilue to ftal1dof error
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2 ~sam3rililn26laribloIiU ()(jjQnyR~lraquoCQuJl~llfllI~ Vadll(illramiddot ~9b 015 T~I(02S~233 7Q64~ll(0265)235 43a6 Em~ltsha~sanghVigmallto~
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We ltalle tlIk~ll mi~l~oll)lJ t1)~ prmSlolJ$ of the Act theaccO1tlJg and alltIrllig itlll atdS and
mattlilll which atll t~glJclred tQ he llIcentlude4111 the audit repOtt unq~rtlllaquo pl1OVfsJrmil Qifthe A ~d the
iRIlesttiade t1terellnle
WIiCQndliltei1 our allQlt 1ft accordlAt61fwilh tllil StandardS oil Audili)g spified tind Seettoll
143(1P)ofthe Ail tkoseStalldarcis requtte that wecQJiply Iilitli etl1ai retWlelllenls Mil Ian and
yewIll) the 311dMlgtbotain rflsotiable assItiilJCe aboutWllether the flijaliQlitl slateriielfs ate eeftom
materia ntisstatement e
$gtnl1udft ilVpVesperfotnUlg procedures to olliitll auditevlltllllgt abqql the arnounts d tire
d$i1rsilfes fn tlle financial statemenls the proeedlregssliteolelti ltipetld en the atldltrsgtjllmiddot gment
InlllUdllil tfie assesstrtent 0ftlerhilis6tmllte~i~J n11sslaemefit ()f~lre Jjnailcentlal stMeilJeills wh Iit due
10 ftllld ct error lnlllliking thlilslHisk as~ssments the alldltQt eOllliders Mem filiuleiel eonlt61
tltilevent tltJ the COlllp1iIlYs prep~li(jti off the j1lfancialstateil~ts that give a true llnd 1itirl~W ill
middotbtder to ilesl~ audit J)l9Cilldlreslllet are apj1tQptillJe in tl)eliteumslltm~cent$ An llltlit ais) I centludes
epoundauating 111 epprl)prill~lJessl)f tl aileOlllllillg ~i1ieh~s llsed andtbe teasonllblel1eSS of tbgt
acentllouulltgestimates mlldll 1Iy the 00rlpanys DlreeI6tll lIS weI as eYcaltiaU1lamp theDvetlltl pres ntaliQfi
centfthe f)naneia1 stlltem1ll1ts
We blljlI tlrattheallPit evldel1l~e we have obtained Is upoundfotellatrcl~lPtopriateto lltlddegt~$lii
lPt our8lliiJ6plnlQnon the filJancentj~1 statements
OpUiton
Ihour opinllli iuld to tlte Mst ofoar ltifo11i~tim~lrdaooord1fgtli tile 1l~tlilnatiDus~iYelilQs tb~
atoresalil fiIianelalstatemefttsgivl the jllfoJ1natioutfequJred bydill All lnthlii manuel soreqwr d llill
~be a trueamf fa~ 1lew incon(~fml~lt~lth the llcentcountmgprinclples SIl11erany accepted in In il wi ihestlttliimiddotofaffults pfthe CbJnailyasal 311031~011i llrtdit1P1fitanJil$ ltash floWs for th leyen endedOlltlilJt date
J fISttAII
2~$MlarilMmiddot~~GH~rlbhaklcaQny RlIee COUrs~IlIGle a~Qda1Aa~ilo15
M em lLBFCJI
Thh(~265Y 233 7064middot Fax(Q2l5)23Smiddot43SI middotEll1allsllijh$llllllIWilmailoom
RepQrl 011 Othel Legal al1iJ iQ~gullltOly Requilemlnts
A~te~lted ~y thCompanles (AlmtlgttS ReIQrt) Qrder20l6etbe Otller) i~sued by the e1)trllil
OOVall1p)lllX pnldi~ ilj terms of sub SeltiPll (ll) of seetion 14a ot the Cp1lJlIallles Aet203 We
ghe inthe Anne~)JJeA slatements on tie mattets sp~ifiet1 ill plltllgrJ1hs 3111Q41fthe ordat to the bull
elitwttOlpplica01e
Asreqllted by$eettoll 143 (10) OllheAet Ye repQt that
(Wi We traye SQuglltand ubtaUrad jllIthe JllfQtnatMaud exph1naPllS which to thebullbestlofoW
mowedlteallIPheiefweteneceSSllry furthe putpi1sesmiddotOfour audit _
or) III ourOpilliouprel1eJ booksofaecoJlJlt asrequlredby lawhJlebeell keptbytileCom
filrJ$ iblp~at$tioD DUt exarnciMtiun ltfthbScent backs
(il nne JllU1lt1e Sheetihe SratementmiddotofJlNi andLoss and the eash ~OW$tlyentllnlentde
hythls iRelpttate inllgj7oornelJt wlthihe books afMcoUnt
(liI) moM ppllflibJi tile aftI~sall lilttaficfal Stiitliments nottilJy with the Aecounjil~ S dltdl- ~plcentifled nttdet S1Ction 133 ofthe Act ~l)d with Ru1e 1ofheCQUjianies (kccouut~) fIlls
zrJil4
(e) Ont1w~isef the Wfiltetrepresentations te~cent(wdftpm the dtrectors as Oil ~tl()lllZ(llli taken
6il tecotd ibythe 13Qllfd ofJiteclofs noneof tim dllfeCtlrl is rIftSC(llaJtfed as plO~hll) from
heilJgappointedas J ditelltot III terlilllofSeciion 1MCZ)oftlieAct
(fj the cPtllpany hasatJ~~l)fe itteilil~iiiiiMcihjoontrllrs systemilJ p1liCeamther~ s J)l
operatingeffiletivene~idt1i~ncb llci~rtlol~ Atep6rigiviJB~F Icent$Pti1sibltlties lind llpinlQ blls _ - Igt
bilillt ailllexedltetewlth
fllf lWt1i~r~J1ltot to middotthe utllet matters to b~ mrtludeli inthe Auditrs Replll ill aCcQtdllnce with
l1llliN 1iNheCotnpanies(A~dit lIl1d AuntQ~) Rules 2bJ 4 inOUl opinion ana tllltl stof
l1IurtnfOlltlllliM lIhdaCcotdingio the oxplanatiQJls given to15
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2~amarpilrj~6 Harj~~~~ CoIQny RaC1icr~urse Circle Vadodaramiddot 300 015 rel(P6S) ~~31OM f~(02Qamp)235 416$ ~ail shalijillllllvfgil8iIiCOm
10 The Companyhas alSclo~eil tire hqpad of penaiqg litigatlGos OR Itsflnanelalpositk n ill itsfincialslatCi1ielts
JiIM Clnrp~)lYllas mlldeprllVisll)lltefllkediindeF tbellPpjjqlltllll llI-W Q1 llOOOn tiPg s~ll1dlllds teurolt material foreseeable lasses If any on longcentermcootracls lnclu ing dilvtluve e6lltrtlcentts
iiL The~e has beeIoodellly ill ttamp11sferrlttgltIoQllts 1elulredW be ttallsfeueltl td riiYest~r Edullatliln arrd IllilckmFllldbythe Company
the
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ANNEXURE TO Tm INallt)PENJ)ENT AUDJ[ON~S REPORT OF E~N frATE ON T1tEPiNANC1AL Si1AJIEMENT OJ CQIlAL LABORATORIES LrDAS ON 31st MARCIUtJ16
klll0rtontheinteJinliLflnllinllflrl coofttolsnntbllclause(j ofsob ~Icenttlon3middotr
Selltlllll14SorflrceompanicllAcentt2013 (IUe Act)
fo ihe mllmhers oicQr1 hJlgtorlltories Ltd Wiellaeauditedthe tnternll 1JUlI1Qial cQ1trGlsoVltlr fl1lllt~illil repCireil1g0f SIrtlle bra aho_orills Ltd (IeC()l)lPll11Y)as of Mith 3J2~ltJ itt il0~llJ1etitl1fwith onf aUdit 0middot the stanillilonefl]jaoc~lllstlltemtlntQflheCompaJY foJfttte Jllar endedontlWi date
MilllliJlllmelts resPQDsildUty pound01 internal financiaconltrols TheG()nlpanis Managemllnt is responsible fQr estahishlngmiddotand maintaining infernal fi cial COOtl018 based 911 the ~l1tll~ltar CQl1tfetI over tltll~ncent1a1 te~Ql1iitig ctiteril established by the centomp~yenc(m~qeringtbl ~ss(1)tillmiddotc)mPQitents of iotefllltl contl~Ql Stated intlte iJuidaftce middotote on Audit of Internal i1il1Ji1Jlll Cpl1trolsmiddot Oyer Financial RepJfilng issued hy the lwtitut Of Chartered ~CCOUl1tJil1sOfln~Ha Thllse responsihillties include the aesigj itliplernet1tatiooand maintenance Qfldegu~tll illteliDlIl tinancillleontrol~ that were Ii1perafing effilctivtll) poundor ens ring lh~ mdlir~y amJ e$(llilentean1gcfoflts business includlngadherettce to 1iIle C(it11pam~s polies th~$ilfegijarltt~gQfits a~~tslhePreventiQl)and ihttTllltion oJftaudand errors theatollr and GomplltWs$ Iilf tlte accounting records aliittimelyprepamtion oftellllble nf1andial informa on ll r~llllt~tl lIltl~r The Oornpanies Act2913
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OUtt~pQMI])i1I~~ is to express-an opinion 01) the JQIJiI1mys tnternaltinancilt ellfittQI~ Iiet financllil tcentlloltillg based-on ()l1rjl~lt We condl~ed olltalllit in accordance with tire Gnld ee Noteon Audit of1lntemalllnllnllttlcentonttoJ~ Over FiMncial RePiltiing (nthll Ollidimell 11 tel) and the Standlttrds 01) Audltingls sp(cifiedurrder section tfpGaQ~of Campanili A~ ZOl ttl the el(tentapp1icable lOan 1I1141t lfl1tetnaI tinancial contrllls hothiapp1icahttl to anaudit of t~(lTIaJFinanciaICmttols G-poth Issued by theIllstftote (lfGhlllftetedaceoulttants of dia thoswStlDdar~s 1ll14 6t11qlIDee bil~te require that we cornjiiy wUll ethielil tequiremens and Ian Mdpetlftrm the audit tJJ obt~in r~llSPlnbleassutanee middotabolltihefFtet adequate itttetnal flnlleial co(lttols 1yenerlnajlcialtePotiingwlliScentsJIj))lfsAeGland ntail1tllined 1I11cli Ifsuch controlsape ated middoteffectlvelY in all material respects
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2~$lIfl1atllllh 21lJitalibhaktMjiJlo~ lilacs CdUi1Iflltliltle Vadodaramiddot 390015 rr(oZ6s1l337Q6t middotF(0265) 235 4388E~it shahlllllghvllillgma)1lXll)l
Durandft l1Vollrlls perlbtltting procedures to obtliln alildit evidcentnee abaJlJ tbe acleqpllCY f the I itiUltnal firtaMlill eorlttols systemover fin~noialreJlottlgnl Ilifir ape~qtingetfeQtlvllrjegt bull Our IIIUt of ititerl1idfJfI~~laJ controls overflnanclalepol(ipg iPgl~ed QPtainlng an un(lluSt nding of lltetnli flltllclltl 0001t61 crVllt fiMiclalreponingilssesslng the llsl fuafil mater]we less I exists and testlll~ and evaluatln~ the design and Qperllting effeclveness ofimernlgonirol hasell I
filn the assessed risk Ihe procedures selected dllpenlt em ~eaudi~ts J1Icgtnent iMlqillg the 1 tassessmentofthe risks otmaterMmisstat~bJ~nt oftlteltnregelal$at(lfllenIS WletJ1~rd1letl fiadd [
ererrors I Ii
r IWe helieve that iheatldit eyjrlencewe have Qbtaineil issuff1cientan~jj~grl1ptiate to prli idfla
basisrOT OUT audit opinion on till )I)teQlJl fhllmda gont~ols systemllVeTtlnaneial feporling
MeanlJlgofinternl IanelillCQltr01QyerUl1llJlliat rlpllrting
A cOfupanYs lltel1l1al gullnollli lt)l1tQloyer ltmUcialreportlng isaprocess designed til pr vid reasonableessuranee regardlng the relilibJHty of fluanel] repottng and the preparati It M finanelal sratllllli)mts formiddot~tlrnal p~rposes Inllcllordanee wlthgenellllly llcentcentepted aeeou tlll8 pdnclple) AcompallYs intllmatiinaneiaJ control overnnllnoilll rep0riihll inclUdes tliose po id~s mid ~Qcedures thllt (I peJtllhl to tile iUlll)teltMPe Qfrecouds that ill reasonable tail lccllrately and fair]y remet thetransll1ltions and 1iispOsi~ins of the assets of the company] (2) pO~tde reasonable assuranee thattransaptions arereeetded llsneeeSsaxy to pei1tilit preparllti n of fiallllcentlalc statement in lIiCetltdlnce With gellera115aecepted acootlJitingprineipIes and tltat re~Pts ltutA eXlllndltnres ofthe company arebeingmMeoily ifiaecordaRee with eutheriza lOt$ ofmMagemetrt and directors iJFthe eomgtlllyand (3~ providereaslilnahle assnrance rllla liP$ p(llveltdon 0rtimely detectlQrtof unauthorleedacqulsitionuse oedlspositlon of tbe CQltlp nys assenrthal eouldhave ltiltatllriaeffebton thefihailltlialSlatemenls
Because of the Inherent litnitalion of internal filmnci alIlQIWrols over finan(lt rltpoct1g inolllaittll lJIe possibilitY at collusion or ~mpropet lUanag~1lwrioyenel1ViltteQf cllntrltilil mat rilll mlsstatement$dge tll IJTOforfrlludmayoccuraniltr()1 bed~teQjtelJ AIsli11 projections pi any evailuatioI) of the intemaltrtln9i~rcol~olsYOllr1tllancMrep0rdngtofilttlr~ period are subJe t til the risk Pqlt the lntemllF flnMiiaIQQt1tt61nVerfiflalloiaF repotlfng may become lnade-ate l1eellllseof chaflges lnQQilcrlflqnS~ or Hit tile degJee of co1tlitianClgt with (he poltcie or prQQurcentsmalideteri0tale
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2imiddot~tpln- 26 HMbMkfjCoIQlYjRilceQ()~ClIciQ VadQdara- 390 015 fel1(O~651 ts~ 7064 F~(1126~)235 4356- E(tIll1l shlih$lll1llhvlgmaiillQm
ItlotlXQpittiell tbeC(itlf~aoy has ili~Lrnraterial respeetsen adiJqual1l internal financlllloQt1 ~ystetnltlYer fihattclllL riepo~llgandSUllltnte~111Jl fll1ancial cDntroSoftll UnatlClalre~ottlnll operlltinlplffutlvely- asmiddotlitMargb 312016 based ontheInternal conlJtdl overll11aileililrtpe jr i1titcrlilllsliWlisled IPY tpeCpmpllllY considerlng the esSehtialcompilmnts oflfittmalconttol stated ill theGUidanceNpteQll A~ldlt l)flntemaIFmanoiliIContrQIs Ovw IFIllanelal Bilil1ortin issued h)itbl Tnstitute QfQllatterelif Accountants OfIhdia
Fo~ urd on pehalf of SBAll SANtillV AND COMPANyen ClIAJIXpoundRED ACCOUNTiNTS leAl RlJGNO 0109794W
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(ltW~tlii1l tl1 inabOYllttlte 1lu(jitQrSi repenofeven dateto tbe J)lcentrtrberso CORAL LAJ30RAOmES LJMl1EDoillne fJlancentjlll$tiitetnllnt~ 10theyear ended 3102016)
1 (Ili)TlIeiZOmpEllJY hallmaintairted PrQper records showilrg ttIl patliieulllsihelual Iii qllllti~lie lt1eWrsand $ltu~tmnQfFhled Assets
(b1 1lllt~ml~ets hll5ic b~nphysi~aIIverified by thel11anllgelilent at teasnnilil intervals No mllte1lll1dJScentrcIlllti9ies werenmmed onSlich verlfiGlftion
(Q~ Inourqpilliouaml apcoclIhgtotlte ufol1matian andexplanationgiven to us th titled~ds of immovable properties are held in the nameofthecomp41lY
ii Plilystcalvtlilneatiol1 ofInventoryhas beeneondqcjedat reasoMbe ntetliaI by managcentli~lit i
ilhdno D)llrerMldisetepllnPw WrenotilleaOI1swelvcdficatlon
m kltpcptding tothe illf01Qlatkm and exptAAatilln given to IIgt theltompltlyen hM 11llgtlltltel ~y
lolllS secured or lnSee1lfed to ~llml1anleS flttfisUmited liahilitY IJ_erlll1ipsootnlf ~arties covered lre~lsternlaltttlaquoineil ~s 189 afthemiddotAct I rti view qf the ilhcfVe prqvlsiQls of clause 3 (iii) (1t)GD) and 0) are tOt llPpJeable to the IcollJlany I
iiV Inlllllotiblbn EIlJd lcent(Ij)tlmg to tnfprtrfatiPltliftd eXlfl1l8U0l1sglVeii tqJ~fbelll pany lJilll in
respeot ot IIlllaS flJltes1ltiilentsgualantees and secUfty prolvlsI0lils l)Qmpliedwith s tlQraquo 1783 and sectlonl116 oil1he Cllrnpanics Act El013
v J1lording totliliWfol1l1~tiQlJandexplanatiangiVeinp ulI the CltWIpany htls not eeepterl IlnY
III QepQsitsIIencethe jprcvlsioilsofclause S(II lUe notappllcableto the company
Wi hlloyenelioAdly tevleyltlithcent bollkSlgtpound acentcentPllllts maintained py hilc0mpanyp ampiJool to the j rule~ made by theCenmlaquoi J3QVllmment of India Themaintenance ofcost reco (Is has beep II ptelicdveduls t411(j) of l~e Act anq We lUeof the qpim1l) that primaflcil tIt 1ll1eseribed
alllloUlilts llItllreeords navcentbeen made anilihaintafneQ Wemiddot middothavetrot hOWllYer eadlltaiecl eliiUiflfilltionQftherecords Withayenlew t1deiennllleWllitthlj they are ilCCllratetit co pllt~
ViL (lJ) AeeQOOing to the OQoyenstlid Je~otds ~produeed aildegtltlU1linedby Usin l1ord41loe With ~lIetmlyen~llted AudltfrlgPta411ceslnJndi1J lihd ilsQmanagemeht representation unQis)Iuwd statiltQqdu~s intespe~ of lrovfdentlbnd lemwloyees Sfatelnsmilnce lneltgttne t SilWs tax Se~leela)(CUjtotfi d~~ ~xillseifaJY Vii1tlekiaed fax CeSSllnd ltlth materialsl qtoty dues ilppliealiiletaithas beelilXegularly depositeClwithaiproptiate authorities
--------------------- -__--------~_I
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2middotSamarpltlnmiddot~aililad~~lIli Colony RllceCou~ ClrclQVadodarimiddot390Qt5 Tel(Q26S)2iMOalt Faxi(O~e5)23S~B6 middotErniJil Shahsar9hVigmailrom
~tl AccQrlingto the records of the company the disputed dues in respectofexc] e dutyof Rs ~8$i ls ~re~i())illi YeartslS561acs)setvicetax Rs nil (preYousyeal Rsnit) and sales tax Rsml ~rIlV1U~ ~emiddotat RJgti lil) income tax as nilprevions year Rs nil ) as at TIiar h 3 I 2016 hallenlll heen deposited WiiiliL appropriate authorities ilrtcl no prevision has been made for the same
St Nmueof fue Name of Amount Peded to which the FomID where 11(jmiddot istatllteJJlleSmiddot ~Si in ameunt relates dispute is pellding
Lacs) OfJ)he centrl1 tIQi~c IS56 2(Olmiddot032003middotQ4 Ik SUptCU1e centbm
ElIcentise~ct t944 tgtuti 200405 iMewDIl11 I _
]houtQPinioll and acoofilittg to theinformatlon andellplanatigifgJYcn tous anlil tbllljoolt$of acebunts Verified by us the company has not4et1lllt~ in liepa~tllnt of dll t~ tIJfanciil1 instit1ltQnbarik((joVCll11llllnf 01 dues to tebenwe hold~
is llet iufilrrnaijlJugivln to usno 1111IneywaSnilsedibY way 0-pound initiaipubfieoller orfurther i J1ll1ilfcentofe~ (in~Iuclingdebt lnstfuments) No term loaasarelfliseobiy thecompafiy duxillfl the
-1 year
amp Durittgtlie ceurse ofour ~xarniWltlonQtbotisiofacCOJIDt~olnrled in acentcentordte with tb~ Olltetaly Aqcepted Al1diting Standards 1m IJldi~ wehll~e nllther (jl1me lI(rossmiddot InstlWice lf fraud on er h~ the oompany either noticed er repotied dmng the year nor 11 ~iVewe been Il1formed ofampuch lease-by themanagemetit
xi Acent~9r4ng to int9rrntttlOn and elltpIanatlon g1VIltto U$ and ltbcent books ilpound acoilitts ~~finlamp b~middotI1lS the mnnagerlllfrettlJIDeratlonhl becn pard pr pr()~idel incompliance With SeetiQn97 readwith Schedute Vto theCompanies Act 2019
Thecompany is nota Nidhi company hence th~ prQli~~OIli cr$ lJaUl111 3(xli)aIlnQt alJPiil)aamplil to the Cqmpany
xiii All transactians with Jh~ related PaJtties ate incol[fp-liancj wi~h seetion t77 and 1880pound -Companies Act 2013WIJcenttcent appIii1ajfe and the details haYe been disclosed 11 he 1fillcillii Statements etc as required hytheapplicableaceountingstoodards
x~v According to infermation-and explanatlon given tlJ Wland the lJQdks ofaccounts j etified by us the company dutifigtheW~lthaSlilJtlllade an preietefitill1 liflbt1tlent orprivate plementqf shares or fully or partIlbdiverti1ile debentures ieJ1l tl1lprovicention Qfclavse $ xht) are tot apptlCllheto companies
xv According to inforrnati0lande~Illanationgiven tous and the bQoksofaOcliUbts elffied by us the rompany has not epteted into any noncashtrensacticn withditelt0rs ot perijl) seomrcct64 Iwithit I
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Shah Sanghvj ace CHARTe~EDACCOUNTANTS
~1l~11l~Pll Z$iJ(aribhakti CQlony Ra~Cdurs~ CirCle adooara-390 InS Tel(O$61 233 7~jax(Qaa5) z~54aaa E-ltiali shahsai1Jhvfg01aiIOOil
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FOR $hilr$llughviampCo (Clill~ered AeeQUUital1ts) ~~g No~r09794W
JISHAlt (IttlprietoF) Menihel1~)dJI NQ Q3461O
The ltompatly is Wilt req)1ired to be regl~tered 1Jniiletseetlo 4SrAllfthe Re~elVe
JP$tfAH m LIltECA
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2
CORAL LABORATORIES LIMITED
REGD OFFICE 3085 VILLAGE amp POSTPOIYCHA(RAN) TALUKSAVLIBARODAGUJARAT-S91780
CORPORATE OFRCE 3B PATANWALACOMPOUND OPP SHREYAS CINEMA LBSMARG
GHATKOPAR (WEST)MUMBAlmiddot 400 086 CINL24231GJ1997PLC031669
Website wwwcorallabcom Email Id ltsleorallabcom Te022-2S00S24S46
STATEMENT OFASSETS AND LIABILITIES ASAT MARCH31 2016
Particulars
A EQUITY amp LIABILITIES
1 Shareholders Fund (a) Share Capital
(b) Reserves amp Surplus
Total-Shareholders fund 2 Non-Current Liabilities
al Long Term Borrowings
(b) Deferred Tax Liabilities (Net) (c) Other Long Term Liabilities
(d) Long Term Provisions
Total-NonCurrentLiabilities 3 Current liabilities
(al Short Term Borrowings (b) Trade Payables (e) Other Current Liabilities
(d) Short Term Provisions Total- CurrentLiabilities
Total-Equity andLiabilities
B ASSETS
1 Non-Current Assets (a) Fixed Assets
(I) Tangible Assets
(ii) Intangible Assets
(RsIn Lacs)
CurrentYear March 312016 Previous Year Mar h
Audited 31 2015 Audited
35726 357 26 666066 5549 96
701792 5907 22
0 shy9608 8829
1890 1979
1721 1194
13219 12C 02
3736 13194
96904 62 99 10926 4 56 68136 40 81
179702 12 43 894713 724 54
180456 189 10 396 19
(b) Non-Current Investments 45773 11 81 Ie) Long Term Loansamp Advances 22203 20 24
Total-Non-Current Assets 248828 221 34 Current Assets
(a) Inventories 132866 104 18
(b) Trade Receivable 278071 247~01
(e] Cash amp Cash Equivalents 89090 66 65 145858 84 36 [d] Short Term Loans amp Advances
(e) Other Current Assets o o Total- Curent Assets 645885 5 282
Total- Assets 72 154 894713
For Cora Laboretori 4ited
~(10lt1gteuror
Date 30th May 2016 Navin B Doshi Pate Mumbai Director
DIN 00232287
AN ISO 90012008 CERTIFIED OR ANIlATI6N
I~I c shy aqa~ORAL LABORATORIES LTD ~)NTERNATICNAllaquo t CORP ~FFICE 3B Petanwala compounc-onp Shreyas Cinema LBS Marg Ghatkopar (West) Mumbal- 4 0086 IndIa
Tel +91-22-200052462500820825005245 Fax +91middot22-25004893 E-MAil accotJntscorallabcomWEBSITE wwwcorallabcom
Form A (For audit report with unmodified opinion)
1 Name ofthe Company CORAL LABORATORIES LIMITED
31st2 Annual financial statements for the March2016 year ended
3 Type of Audit observation Un-qualified
4 Frequency of observation Not Applicable
5 To be signed shy
bull Managing Director
bull CFO
bull Auditor ofthe company
bull Audit Committee Chairman
For CORAL LABORATORIES LIMITED
4 IKISHOR R MEHTA
Whole Time Director I I
(MEETA SAMIR SHETH)
For Shah Sanghvi amp Co Chartered Accountants Firms Registration No 109794W
~ (Jitesh P Shah) if))0 pjJ i eto Membership No 34010
For CORAL LA A RIES LIMITED
I
RAJES R RIKH 1 Chairma f Audit Committee
fI
Regd Off ampFact 3085 Village Post Poicha(Ran) Taluka-Savli Baroda-391780 CIN L24231GJl997PLC031669
AN ISO 90012008 CERTIFIED OR ANIZATION
~ C ~aqaiiI ORAL LABORATORIES LTD ff)NTRTIONAL~~
+gORP OFFICE 38 Patanwala Compound ODP Shreyas Cinema LBS Marg Ghatkopar (West) Mumbai ~ 4 0 DB6 India Tel 1-22-250052462500820825005245 Fax +91 - 22-25004893 E~MAIL accountscorallabcomWEBSITE wwwcorallabcom
ao Ma
To The BSE Limited Corporate Relations Department 1st Floor New Trading Ring PJTowers Dalal Street Mumbai- 400 001
REF SCRIP CODE NO524506 SUB Declaration while publishing Annual Audited Financial Results vide SEBI Circular
25th May 2016
Dear Sir
With reference to SEBI Circular dated 25th May 2016 the Company hereby declares th publishing the Annual Audited Financial Results it is found that the Audit Report is free qualifications and is of the unmodified opinion
The Statutory Auditor of the Company is having no Audit Qualification out of the Statuto
conducted for FY 2015-16
For Coral La~ories Limited
m3~gt~ Navin B Doshi
Director (DIN 00232281)
Regd Off ampFact 3085 Village Post poicha(Ran) Taluka-Savli Baroda-391780 CIN L2423IGJ1997PLC031669
2016
ated
t while f Audit
y Audit
Shah Sanghvi amp Co CHARTERED ACCOUNTANTS
2 Samarpan 26 Haribhakti Colony Race Course Circle Vadodara- 390 015 Tel(0265) 233 7064 bull Fax(0265) 235 4386 bull E-mail shahsanghvigmailcom
J P SHAH MC rn LLBFCA
uarterl Financial Results Com an Pursuant to the Re ulation 33 of SEBI Requirements) Regulations 2015
To
The Board of Directors of Coral Laboratories Limited
We have audited the quarterly financial results CORAL LABORATORIES LIMITED f r the
quarter ended 31032016 and the year to date results for the period 142015 to 313 016
attached herewith being submitted by the company pursuant to the requirement of Regulati n 33
of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 hese
quarterly financial results as well as the year to date financial results have been prepared n the
basis of the interim financial statements which are the responsibility of the com anys
management Our responsibility is to express an opinion on these financial results based n our
audit of such interim financial statements which have been prepared in accordance wi h the
recognition and measurement principles laid down in Accounting Standard for Interim Fin ncial
Reporting (AS 25 Ind AS 34) prescribed under Section 133 of the Companies Act 201 read
with relevant rules issued thereunder or by the Institute of Chartered Accountants of In ta as
applicable and other accounting principles generally accepted in India
We conducted our audit in accordance with the auditing standards generally accepted in ndia
Those standards require that we plan and perform the audit to obtain reasonable assurance about
whether the financial results are free of material misstatement(s) An audit includes exam ning
on a test basis evidence supporting the amounts disclosed as financial results An audi also
includes assessing the accounting principles used and significant estimates ma by
management We believe that our audit provides a reasonable basis for our opinion
In our opinion and to the best of our information and according to the explanations given to us
these quarterly financial results as well as the year to date results
bull I
hah $aRghyj amp Co JP SHAiH MCm LLSFlCAeiAARTEiRlED AcCCiJ)ONlANTS
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r~~ llllpres~I~~gin ~lPfIMQli With the telllitemems 6fRegulati6fi 93 oithe SEBI ~lstingmiddot Obu~lifions anllLfiseloSUieRelrements) Regulations 2Ol5 in this~gatdllOd
(i~ ~veatIUeand faih1ewof thenetprP~tllOSS and other fulllwialmiddoti~rIlatioll illt the ~aplusmntet
ejtded 31~j)g016 astelJas the yQar to date reslIlw forihQ penoO from It2015fo3l0320lii i
FOfSHeJUISANGJIV) ampfO CJ1ltrteledAeelluntllhts
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TO
THEMEMBERS dFCORALLAtJORA]dRlJJiS UM11ltfi
W~l1allt( aU1itildtall aCQgllpanying flilllJlthil sllllel111fits cOt C~LLAnOltAtQ~ESL all)
(tblCOrnlt~Y) Wlllt c(gtrnlprise the ~nlillWe Sheet lIsat3MQ31Z11t6 llie StalemeJilt egtpound JiltiJ Jlifid
ILGss t1leccash flow stlitementior the year then ended and a SJlmmlltyQf thee $lglliollt acentcentillptmg
poJlo10B dollier exphmaloryinrormation
MamtgemeJifs ResponsIbility for the Fi1ancialStiltel11enis
1Jhe CQinplIIlws Soatd 61 tlitel1tots is responsible for tire matters stated inSeailoli1i l34(5) at tire
tompllllllS Aot ti)l~ (the Act)wlth respect to tbepreparation oftlese finallClaistateme tstbat
Vjj a blo altd ilfltfr lew of tbll llnattcililpostibil and tiMrtal perfolmanlt(l fthe elf) any ll
1l(j(jQljIiti1l1l1 ~i~b tbcent ail~liiltirnt llfjjj(jiifJb~ gliJlrlll~ lIecellled irt IUdlalnciliiIlliigtlt ~centpliillliW
Standlllds sPecifrcentQ U1dQr Sle~u 133 IiIf tbe Aet rellO Witll RiuJe l or Ine Qcentmjllltries fAcelIrtts) Ruies20M l1hs responalbifloalso lnciudes rollintenlll~l1If lIdqUl)te I1Gcouutillg fllcentritsin
aecordance with theprovislous of theAot or safeguarding of the assets of the Company nd for preventing auddeteetlng frauds lind other irrloguJalities seltrction and applicationof ap priate
licCol1iltitig polipies maklllldliclgmelltSand eslljjjjjies that lite reasonable and prudent and
inipJementatiollalldmaJfiteiiillllte of adequate iUitemat financial controls that were 0 rating
Ilffeetively Cpr etlsudl1g Ibe 1IcentiUrllc)andeohlliletcentJl4SS0flheaecollrtting records releianl to the
prepatatiQn andll~IlS~htaiion (jfith~ fllraltltlillshttltiltttellts tllil give a true and fair view and re free
lhm material mis$llllemMtWhet1ietlilue to ftal1dof error
w
~ JPSHAHrA bull bull bull 0 imiddotElihmiddotmiddotbull5amiddotmiddotnghflilmiddot amp 0bVlaquo (lt101 LL8fCAmiddotmiddoti bull c eH~RT~~et)AOODtlNTANTS
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2 ~sam3rililn26laribloIiU ()(jjQnyR~lraquoCQuJl~llfllI~ Vadll(illramiddot ~9b 015 T~I(02S~233 7Q64~ll(0265)235 43a6 Em~ltsha~sanghVigmallto~
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We ltalle tlIk~ll mi~l~oll)lJ t1)~ prmSlolJ$ of the Act theaccO1tlJg and alltIrllig itlll atdS and
mattlilll which atll t~glJclred tQ he llIcentlude4111 the audit repOtt unq~rtlllaquo pl1OVfsJrmil Qifthe A ~d the
iRIlesttiade t1terellnle
WIiCQndliltei1 our allQlt 1ft accordlAt61fwilh tllil StandardS oil Audili)g spified tind Seettoll
143(1P)ofthe Ail tkoseStalldarcis requtte that wecQJiply Iilitli etl1ai retWlelllenls Mil Ian and
yewIll) the 311dMlgtbotain rflsotiable assItiilJCe aboutWllether the flijaliQlitl slateriielfs ate eeftom
materia ntisstatement e
$gtnl1udft ilVpVesperfotnUlg procedures to olliitll auditevlltllllgt abqql the arnounts d tire
d$i1rsilfes fn tlle financial statemenls the proeedlregssliteolelti ltipetld en the atldltrsgtjllmiddot gment
InlllUdllil tfie assesstrtent 0ftlerhilis6tmllte~i~J n11sslaemefit ()f~lre Jjnailcentlal stMeilJeills wh Iit due
10 ftllld ct error lnlllliking thlilslHisk as~ssments the alldltQt eOllliders Mem filiuleiel eonlt61
tltilevent tltJ the COlllp1iIlYs prep~li(jti off the j1lfancialstateil~ts that give a true llnd 1itirl~W ill
middotbtder to ilesl~ audit J)l9Cilldlreslllet are apj1tQptillJe in tl)eliteumslltm~cent$ An llltlit ais) I centludes
epoundauating 111 epprl)prill~lJessl)f tl aileOlllllillg ~i1ieh~s llsed andtbe teasonllblel1eSS of tbgt
acentllouulltgestimates mlldll 1Iy the 00rlpanys DlreeI6tll lIS weI as eYcaltiaU1lamp theDvetlltl pres ntaliQfi
centfthe f)naneia1 stlltem1ll1ts
We blljlI tlrattheallPit evldel1l~e we have obtained Is upoundfotellatrcl~lPtopriateto lltlddegt~$lii
lPt our8lliiJ6plnlQnon the filJancentj~1 statements
OpUiton
Ihour opinllli iuld to tlte Mst ofoar ltifo11i~tim~lrdaooord1fgtli tile 1l~tlilnatiDus~iYelilQs tb~
atoresalil fiIianelalstatemefttsgivl the jllfoJ1natioutfequJred bydill All lnthlii manuel soreqwr d llill
~be a trueamf fa~ 1lew incon(~fml~lt~lth the llcentcountmgprinclples SIl11erany accepted in In il wi ihestlttliimiddotofaffults pfthe CbJnailyasal 311031~011i llrtdit1P1fitanJil$ ltash floWs for th leyen endedOlltlilJt date
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M em lLBFCJI
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RepQrl 011 Othel Legal al1iJ iQ~gullltOly Requilemlnts
A~te~lted ~y thCompanles (AlmtlgttS ReIQrt) Qrder20l6etbe Otller) i~sued by the e1)trllil
OOVall1p)lllX pnldi~ ilj terms of sub SeltiPll (ll) of seetion 14a ot the Cp1lJlIallles Aet203 We
ghe inthe Anne~)JJeA slatements on tie mattets sp~ifiet1 ill plltllgrJ1hs 3111Q41fthe ordat to the bull
elitwttOlpplica01e
Asreqllted by$eettoll 143 (10) OllheAet Ye repQt that
(Wi We traye SQuglltand ubtaUrad jllIthe JllfQtnatMaud exph1naPllS which to thebullbestlofoW
mowedlteallIPheiefweteneceSSllry furthe putpi1sesmiddotOfour audit _
or) III ourOpilliouprel1eJ booksofaecoJlJlt asrequlredby lawhJlebeell keptbytileCom
filrJ$ iblp~at$tioD DUt exarnciMtiun ltfthbScent backs
(il nne JllU1lt1e Sheetihe SratementmiddotofJlNi andLoss and the eash ~OW$tlyentllnlentde
hythls iRelpttate inllgj7oornelJt wlthihe books afMcoUnt
(liI) moM ppllflibJi tile aftI~sall lilttaficfal Stiitliments nottilJy with the Aecounjil~ S dltdl- ~plcentifled nttdet S1Ction 133 ofthe Act ~l)d with Ru1e 1ofheCQUjianies (kccouut~) fIlls
zrJil4
(e) Ont1w~isef the Wfiltetrepresentations te~cent(wdftpm the dtrectors as Oil ~tl()lllZ(llli taken
6il tecotd ibythe 13Qllfd ofJiteclofs noneof tim dllfeCtlrl is rIftSC(llaJtfed as plO~hll) from
heilJgappointedas J ditelltot III terlilllofSeciion 1MCZ)oftlieAct
(fj the cPtllpany hasatJ~~l)fe itteilil~iiiiiMcihjoontrllrs systemilJ p1liCeamther~ s J)l
operatingeffiletivene~idt1i~ncb llci~rtlol~ Atep6rigiviJB~F Icent$Pti1sibltlties lind llpinlQ blls _ - Igt
bilillt ailllexedltetewlth
fllf lWt1i~r~J1ltot to middotthe utllet matters to b~ mrtludeli inthe Auditrs Replll ill aCcQtdllnce with
l1llliN 1iNheCotnpanies(A~dit lIl1d AuntQ~) Rules 2bJ 4 inOUl opinion ana tllltl stof
l1IurtnfOlltlllliM lIhdaCcotdingio the oxplanatiQJls given to15
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2~amarpilrj~6 Harj~~~~ CoIQny RaC1icr~urse Circle Vadodaramiddot 300 015 rel(P6S) ~~31OM f~(02Qamp)235 416$ ~ail shalijillllllvfgil8iIiCOm
10 The Companyhas alSclo~eil tire hqpad of penaiqg litigatlGos OR Itsflnanelalpositk n ill itsfincialslatCi1ielts
JiIM Clnrp~)lYllas mlldeprllVisll)lltefllkediindeF tbellPpjjqlltllll llI-W Q1 llOOOn tiPg s~ll1dlllds teurolt material foreseeable lasses If any on longcentermcootracls lnclu ing dilvtluve e6lltrtlcentts
iiL The~e has beeIoodellly ill ttamp11sferrlttgltIoQllts 1elulredW be ttallsfeueltl td riiYest~r Edullatliln arrd IllilckmFllldbythe Company
the
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FORShah Sanglvi amp C bull (Charter-ed ACcIUlltantsi
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ANNEXURE TO Tm INallt)PENJ)ENT AUDJ[ON~S REPORT OF E~N frATE ON T1tEPiNANC1AL Si1AJIEMENT OJ CQIlAL LABORATORIES LrDAS ON 31st MARCIUtJ16
klll0rtontheinteJinliLflnllinllflrl coofttolsnntbllclause(j ofsob ~Icenttlon3middotr
Selltlllll14SorflrceompanicllAcentt2013 (IUe Act)
fo ihe mllmhers oicQr1 hJlgtorlltories Ltd Wiellaeauditedthe tnternll 1JUlI1Qial cQ1trGlsoVltlr fl1lllt~illil repCireil1g0f SIrtlle bra aho_orills Ltd (IeC()l)lPll11Y)as of Mith 3J2~ltJ itt il0~llJ1etitl1fwith onf aUdit 0middot the stanillilonefl]jaoc~lllstlltemtlntQflheCompaJY foJfttte Jllar endedontlWi date
MilllliJlllmelts resPQDsildUty pound01 internal financiaconltrols TheG()nlpanis Managemllnt is responsible fQr estahishlngmiddotand maintaining infernal fi cial COOtl018 based 911 the ~l1tll~ltar CQl1tfetI over tltll~ncent1a1 te~Ql1iitig ctiteril established by the centomp~yenc(m~qeringtbl ~ss(1)tillmiddotc)mPQitents of iotefllltl contl~Ql Stated intlte iJuidaftce middotote on Audit of Internal i1il1Ji1Jlll Cpl1trolsmiddot Oyer Financial RepJfilng issued hy the lwtitut Of Chartered ~CCOUl1tJil1sOfln~Ha Thllse responsihillties include the aesigj itliplernet1tatiooand maintenance Qfldegu~tll illteliDlIl tinancillleontrol~ that were Ii1perafing effilctivtll) poundor ens ring lh~ mdlir~y amJ e$(llilentean1gcfoflts business includlngadherettce to 1iIle C(it11pam~s polies th~$ilfegijarltt~gQfits a~~tslhePreventiQl)and ihttTllltion oJftaudand errors theatollr and GomplltWs$ Iilf tlte accounting records aliittimelyprepamtion oftellllble nf1andial informa on ll r~llllt~tl lIltl~r The Oornpanies Act2913
~
OUtt~pQMI])i1I~~ is to express-an opinion 01) the JQIJiI1mys tnternaltinancilt ellfittQI~ Iiet financllil tcentlloltillg based-on ()l1rjl~lt We condl~ed olltalllit in accordance with tire Gnld ee Noteon Audit of1lntemalllnllnllttlcentonttoJ~ Over FiMncial RePiltiing (nthll Ollidimell 11 tel) and the Standlttrds 01) Audltingls sp(cifiedurrder section tfpGaQ~of Campanili A~ ZOl ttl the el(tentapp1icable lOan 1I1141t lfl1tetnaI tinancial contrllls hothiapp1icahttl to anaudit of t~(lTIaJFinanciaICmttols G-poth Issued by theIllstftote (lfGhlllftetedaceoulttants of dia thoswStlDdar~s 1ll14 6t11qlIDee bil~te require that we cornjiiy wUll ethielil tequiremens and Ian Mdpetlftrm the audit tJJ obt~in r~llSPlnbleassutanee middotabolltihefFtet adequate itttetnal flnlleial co(lttols 1yenerlnajlcialtePotiingwlliScentsJIj))lfsAeGland ntail1tllined 1I11cli Ifsuch controlsape ated middoteffectlvelY in all material respects
bull
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Durandft l1Vollrlls perlbtltting procedures to obtliln alildit evidcentnee abaJlJ tbe acleqpllCY f the I itiUltnal firtaMlill eorlttols systemover fin~noialreJlottlgnl Ilifir ape~qtingetfeQtlvllrjegt bull Our IIIUt of ititerl1idfJfI~~laJ controls overflnanclalepol(ipg iPgl~ed QPtainlng an un(lluSt nding of lltetnli flltllclltl 0001t61 crVllt fiMiclalreponingilssesslng the llsl fuafil mater]we less I exists and testlll~ and evaluatln~ the design and Qperllting effeclveness ofimernlgonirol hasell I
filn the assessed risk Ihe procedures selected dllpenlt em ~eaudi~ts J1Icgtnent iMlqillg the 1 tassessmentofthe risks otmaterMmisstat~bJ~nt oftlteltnregelal$at(lfllenIS WletJ1~rd1letl fiadd [
ererrors I Ii
r IWe helieve that iheatldit eyjrlencewe have Qbtaineil issuff1cientan~jj~grl1ptiate to prli idfla
basisrOT OUT audit opinion on till )I)teQlJl fhllmda gont~ols systemllVeTtlnaneial feporling
MeanlJlgofinternl IanelillCQltr01QyerUl1llJlliat rlpllrting
A cOfupanYs lltel1l1al gullnollli lt)l1tQloyer ltmUcialreportlng isaprocess designed til pr vid reasonableessuranee regardlng the relilibJHty of fluanel] repottng and the preparati It M finanelal sratllllli)mts formiddot~tlrnal p~rposes Inllcllordanee wlthgenellllly llcentcentepted aeeou tlll8 pdnclple) AcompallYs intllmatiinaneiaJ control overnnllnoilll rep0riihll inclUdes tliose po id~s mid ~Qcedures thllt (I peJtllhl to tile iUlll)teltMPe Qfrecouds that ill reasonable tail lccllrately and fair]y remet thetransll1ltions and 1iispOsi~ins of the assets of the company] (2) pO~tde reasonable assuranee thattransaptions arereeetded llsneeeSsaxy to pei1tilit preparllti n of fiallllcentlalc statement in lIiCetltdlnce With gellera115aecepted acootlJitingprineipIes and tltat re~Pts ltutA eXlllndltnres ofthe company arebeingmMeoily ifiaecordaRee with eutheriza lOt$ ofmMagemetrt and directors iJFthe eomgtlllyand (3~ providereaslilnahle assnrance rllla liP$ p(llveltdon 0rtimely detectlQrtof unauthorleedacqulsitionuse oedlspositlon of tbe CQltlp nys assenrthal eouldhave ltiltatllriaeffebton thefihailltlialSlatemenls
Because of the Inherent litnitalion of internal filmnci alIlQIWrols over finan(lt rltpoct1g inolllaittll lJIe possibilitY at collusion or ~mpropet lUanag~1lwrioyenel1ViltteQf cllntrltilil mat rilll mlsstatement$dge tll IJTOforfrlludmayoccuraniltr()1 bed~teQjtelJ AIsli11 projections pi any evailuatioI) of the intemaltrtln9i~rcol~olsYOllr1tllancMrep0rdngtofilttlr~ period are subJe t til the risk Pqlt the lntemllF flnMiiaIQQt1tt61nVerfiflalloiaF repotlfng may become lnade-ate l1eellllseof chaflges lnQQilcrlflqnS~ or Hit tile degJee of co1tlitianClgt with (he poltcie or prQQurcentsmalideteri0tale
JP SHAH MC(i bull I~ajFcoA~1~~~~~
2imiddot~tpln- 26 HMbMkfjCoIQlYjRilceQ()~ClIciQ VadQdara- 390 015 fel1(O~651 ts~ 7064 F~(1126~)235 4356- E(tIll1l shlih$lll1llhvlgmaiillQm
ItlotlXQpittiell tbeC(itlf~aoy has ili~Lrnraterial respeetsen adiJqual1l internal financlllloQt1 ~ystetnltlYer fihattclllL riepo~llgandSUllltnte~111Jl fll1ancial cDntroSoftll UnatlClalre~ottlnll operlltinlplffutlvely- asmiddotlitMargb 312016 based ontheInternal conlJtdl overll11aileililrtpe jr i1titcrlilllsliWlisled IPY tpeCpmpllllY considerlng the esSehtialcompilmnts oflfittmalconttol stated ill theGUidanceNpteQll A~ldlt l)flntemaIFmanoiliIContrQIs Ovw IFIllanelal Bilil1ortin issued h)itbl Tnstitute QfQllatterelif Accountants OfIhdia
Fo~ urd on pehalf of SBAll SANtillV AND COMPANyen ClIAJIXpoundRED ACCOUNTiNTS leAl RlJGNO 0109794W
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(ltW~tlii1l tl1 inabOYllttlte 1lu(jitQrSi repenofeven dateto tbe J)lcentrtrberso CORAL LAJ30RAOmES LJMl1EDoillne fJlancentjlll$tiitetnllnt~ 10theyear ended 3102016)
1 (Ili)TlIeiZOmpEllJY hallmaintairted PrQper records showilrg ttIl patliieulllsihelual Iii qllllti~lie lt1eWrsand $ltu~tmnQfFhled Assets
(b1 1lllt~ml~ets hll5ic b~nphysi~aIIverified by thel11anllgelilent at teasnnilil intervals No mllte1lll1dJScentrcIlllti9ies werenmmed onSlich verlfiGlftion
(Q~ Inourqpilliouaml apcoclIhgtotlte ufol1matian andexplanationgiven to us th titled~ds of immovable properties are held in the nameofthecomp41lY
ii Plilystcalvtlilneatiol1 ofInventoryhas beeneondqcjedat reasoMbe ntetliaI by managcentli~lit i
ilhdno D)llrerMldisetepllnPw WrenotilleaOI1swelvcdficatlon
m kltpcptding tothe illf01Qlatkm and exptAAatilln given to IIgt theltompltlyen hM 11llgtlltltel ~y
lolllS secured or lnSee1lfed to ~llml1anleS flttfisUmited liahilitY IJ_erlll1ipsootnlf ~arties covered lre~lsternlaltttlaquoineil ~s 189 afthemiddotAct I rti view qf the ilhcfVe prqvlsiQls of clause 3 (iii) (1t)GD) and 0) are tOt llPpJeable to the IcollJlany I
iiV Inlllllotiblbn EIlJd lcent(Ij)tlmg to tnfprtrfatiPltliftd eXlfl1l8U0l1sglVeii tqJ~fbelll pany lJilll in
respeot ot IIlllaS flJltes1ltiilentsgualantees and secUfty prolvlsI0lils l)Qmpliedwith s tlQraquo 1783 and sectlonl116 oil1he Cllrnpanics Act El013
v J1lording totliliWfol1l1~tiQlJandexplanatiangiVeinp ulI the CltWIpany htls not eeepterl IlnY
III QepQsitsIIencethe jprcvlsioilsofclause S(II lUe notappllcableto the company
Wi hlloyenelioAdly tevleyltlithcent bollkSlgtpound acentcentPllllts maintained py hilc0mpanyp ampiJool to the j rule~ made by theCenmlaquoi J3QVllmment of India Themaintenance ofcost reco (Is has beep II ptelicdveduls t411(j) of l~e Act anq We lUeof the qpim1l) that primaflcil tIt 1ll1eseribed
alllloUlilts llItllreeords navcentbeen made anilihaintafneQ Wemiddot middothavetrot hOWllYer eadlltaiecl eliiUiflfilltionQftherecords Withayenlew t1deiennllleWllitthlj they are ilCCllratetit co pllt~
ViL (lJ) AeeQOOing to the OQoyenstlid Je~otds ~produeed aildegtltlU1linedby Usin l1ord41loe With ~lIetmlyen~llted AudltfrlgPta411ceslnJndi1J lihd ilsQmanagemeht representation unQis)Iuwd statiltQqdu~s intespe~ of lrovfdentlbnd lemwloyees Sfatelnsmilnce lneltgttne t SilWs tax Se~leela)(CUjtotfi d~~ ~xillseifaJY Vii1tlekiaed fax CeSSllnd ltlth materialsl qtoty dues ilppliealiiletaithas beelilXegularly depositeClwithaiproptiate authorities
--------------------- -__--------~_I
J PSHAH Me mLUtFcA
2middotSamarpltlnmiddot~aililad~~lIli Colony RllceCou~ ClrclQVadodarimiddot390Qt5 Tel(Q26S)2iMOalt Faxi(O~e5)23S~B6 middotErniJil Shahsar9hVigmailrom
~tl AccQrlingto the records of the company the disputed dues in respectofexc] e dutyof Rs ~8$i ls ~re~i())illi YeartslS561acs)setvicetax Rs nil (preYousyeal Rsnit) and sales tax Rsml ~rIlV1U~ ~emiddotat RJgti lil) income tax as nilprevions year Rs nil ) as at TIiar h 3 I 2016 hallenlll heen deposited WiiiliL appropriate authorities ilrtcl no prevision has been made for the same
St Nmueof fue Name of Amount Peded to which the FomID where 11(jmiddot istatllteJJlleSmiddot ~Si in ameunt relates dispute is pellding
Lacs) OfJ)he centrl1 tIQi~c IS56 2(Olmiddot032003middotQ4 Ik SUptCU1e centbm
ElIcentise~ct t944 tgtuti 200405 iMewDIl11 I _
]houtQPinioll and acoofilittg to theinformatlon andellplanatigifgJYcn tous anlil tbllljoolt$of acebunts Verified by us the company has not4et1lllt~ in liepa~tllnt of dll t~ tIJfanciil1 instit1ltQnbarik((joVCll11llllnf 01 dues to tebenwe hold~
is llet iufilrrnaijlJugivln to usno 1111IneywaSnilsedibY way 0-pound initiaipubfieoller orfurther i J1ll1ilfcentofe~ (in~Iuclingdebt lnstfuments) No term loaasarelfliseobiy thecompafiy duxillfl the
-1 year
amp Durittgtlie ceurse ofour ~xarniWltlonQtbotisiofacCOJIDt~olnrled in acentcentordte with tb~ Olltetaly Aqcepted Al1diting Standards 1m IJldi~ wehll~e nllther (jl1me lI(rossmiddot InstlWice lf fraud on er h~ the oompany either noticed er repotied dmng the year nor 11 ~iVewe been Il1formed ofampuch lease-by themanagemetit
xi Acent~9r4ng to int9rrntttlOn and elltpIanatlon g1VIltto U$ and ltbcent books ilpound acoilitts ~~finlamp b~middotI1lS the mnnagerlllfrettlJIDeratlonhl becn pard pr pr()~idel incompliance With SeetiQn97 readwith Schedute Vto theCompanies Act 2019
Thecompany is nota Nidhi company hence th~ prQli~~OIli cr$ lJaUl111 3(xli)aIlnQt alJPiil)aamplil to the Cqmpany
xiii All transactians with Jh~ related PaJtties ate incol[fp-liancj wi~h seetion t77 and 1880pound -Companies Act 2013WIJcenttcent appIii1ajfe and the details haYe been disclosed 11 he 1fillcillii Statements etc as required hytheapplicableaceountingstoodards
x~v According to infermation-and explanatlon given tlJ Wland the lJQdks ofaccounts j etified by us the company dutifigtheW~lthaSlilJtlllade an preietefitill1 liflbt1tlent orprivate plementqf shares or fully or partIlbdiverti1ile debentures ieJ1l tl1lprovicention Qfclavse $ xht) are tot apptlCllheto companies
xv According to inforrnati0lande~Illanationgiven tous and the bQoksofaOcliUbts elffied by us the rompany has not epteted into any noncashtrensacticn withditelt0rs ot perijl) seomrcct64 Iwithit I
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Shah Sanghvj ace CHARTe~EDACCOUNTANTS
~1l~11l~Pll Z$iJ(aribhakti CQlony Ra~Cdurs~ CirCle adooara-390 InS Tel(O$61 233 7~jax(Qaa5) z~54aaa E-ltiali shahsai1Jhvfg01aiIOOil
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FOR $hilr$llughviampCo (Clill~ered AeeQUUital1ts) ~~g No~r09794W
JISHAlt (IttlprietoF) Menihel1~)dJI NQ Q3461O
The ltompatly is Wilt req)1ired to be regl~tered 1Jniiletseetlo 4SrAllfthe Re~elVe
JP$tfAH m LIltECA
ank onndfa
AN ISO 90012008 CERTIFIED OR ANIlATI6N
I~I c shy aqa~ORAL LABORATORIES LTD ~)NTERNATICNAllaquo t CORP ~FFICE 3B Petanwala compounc-onp Shreyas Cinema LBS Marg Ghatkopar (West) Mumbal- 4 0086 IndIa
Tel +91-22-200052462500820825005245 Fax +91middot22-25004893 E-MAil accotJntscorallabcomWEBSITE wwwcorallabcom
Form A (For audit report with unmodified opinion)
1 Name ofthe Company CORAL LABORATORIES LIMITED
31st2 Annual financial statements for the March2016 year ended
3 Type of Audit observation Un-qualified
4 Frequency of observation Not Applicable
5 To be signed shy
bull Managing Director
bull CFO
bull Auditor ofthe company
bull Audit Committee Chairman
For CORAL LABORATORIES LIMITED
4 IKISHOR R MEHTA
Whole Time Director I I
(MEETA SAMIR SHETH)
For Shah Sanghvi amp Co Chartered Accountants Firms Registration No 109794W
~ (Jitesh P Shah) if))0 pjJ i eto Membership No 34010
For CORAL LA A RIES LIMITED
I
RAJES R RIKH 1 Chairma f Audit Committee
fI
Regd Off ampFact 3085 Village Post Poicha(Ran) Taluka-Savli Baroda-391780 CIN L24231GJl997PLC031669
AN ISO 90012008 CERTIFIED OR ANIZATION
~ C ~aqaiiI ORAL LABORATORIES LTD ff)NTRTIONAL~~
+gORP OFFICE 38 Patanwala Compound ODP Shreyas Cinema LBS Marg Ghatkopar (West) Mumbai ~ 4 0 DB6 India Tel 1-22-250052462500820825005245 Fax +91 - 22-25004893 E~MAIL accountscorallabcomWEBSITE wwwcorallabcom
ao Ma
To The BSE Limited Corporate Relations Department 1st Floor New Trading Ring PJTowers Dalal Street Mumbai- 400 001
REF SCRIP CODE NO524506 SUB Declaration while publishing Annual Audited Financial Results vide SEBI Circular
25th May 2016
Dear Sir
With reference to SEBI Circular dated 25th May 2016 the Company hereby declares th publishing the Annual Audited Financial Results it is found that the Audit Report is free qualifications and is of the unmodified opinion
The Statutory Auditor of the Company is having no Audit Qualification out of the Statuto
conducted for FY 2015-16
For Coral La~ories Limited
m3~gt~ Navin B Doshi
Director (DIN 00232281)
Regd Off ampFact 3085 Village Post poicha(Ran) Taluka-Savli Baroda-391780 CIN L2423IGJ1997PLC031669
2016
ated
t while f Audit
y Audit
Shah Sanghvi amp Co CHARTERED ACCOUNTANTS
2 Samarpan 26 Haribhakti Colony Race Course Circle Vadodara- 390 015 Tel(0265) 233 7064 bull Fax(0265) 235 4386 bull E-mail shahsanghvigmailcom
J P SHAH MC rn LLBFCA
uarterl Financial Results Com an Pursuant to the Re ulation 33 of SEBI Requirements) Regulations 2015
To
The Board of Directors of Coral Laboratories Limited
We have audited the quarterly financial results CORAL LABORATORIES LIMITED f r the
quarter ended 31032016 and the year to date results for the period 142015 to 313 016
attached herewith being submitted by the company pursuant to the requirement of Regulati n 33
of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 hese
quarterly financial results as well as the year to date financial results have been prepared n the
basis of the interim financial statements which are the responsibility of the com anys
management Our responsibility is to express an opinion on these financial results based n our
audit of such interim financial statements which have been prepared in accordance wi h the
recognition and measurement principles laid down in Accounting Standard for Interim Fin ncial
Reporting (AS 25 Ind AS 34) prescribed under Section 133 of the Companies Act 201 read
with relevant rules issued thereunder or by the Institute of Chartered Accountants of In ta as
applicable and other accounting principles generally accepted in India
We conducted our audit in accordance with the auditing standards generally accepted in ndia
Those standards require that we plan and perform the audit to obtain reasonable assurance about
whether the financial results are free of material misstatement(s) An audit includes exam ning
on a test basis evidence supporting the amounts disclosed as financial results An audi also
includes assessing the accounting principles used and significant estimates ma by
management We believe that our audit provides a reasonable basis for our opinion
In our opinion and to the best of our information and according to the explanations given to us
these quarterly financial results as well as the year to date results
bull I
hah $aRghyj amp Co JP SHAiH MCm LLSFlCAeiAARTEiRlED AcCCiJ)ONlANTS
2SilmaJp~n261Han~~aWCltllpJlYi Rate CQU(l~middotCJtol~ VadilQariilt lMOifr ra((l2aSY2~a711l~iFiX(0265)2j5 4~lliJ Emiddotmailmiddot~bahsa1ghlii9lgm~i1com
r~~ llllpres~I~~gin ~lPfIMQli With the telllitemems 6fRegulati6fi 93 oithe SEBI ~lstingmiddot Obu~lifions anllLfiseloSUieRelrements) Regulations 2Ol5 in this~gatdllOd
(i~ ~veatIUeand faih1ewof thenetprP~tllOSS and other fulllwialmiddoti~rIlatioll illt the ~aplusmntet
ejtded 31~j)g016 astelJas the yQar to date reslIlw forihQ penoO from It2015fo3l0320lii i
FOfSHeJUISANGJIV) ampfO CJ1ltrteledAeelluntllhts
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2 sall1llpan 26 HaribhakUCdlony RaceCourse Circle Vadodaramiddot390015 tol(0285) 233 i064 FIix(0265)2354386middotEmail shahsanshvlgmailcom
TO
THEMEMBERS dFCORALLAtJORA]dRlJJiS UM11ltfi
W~l1allt( aU1itildtall aCQgllpanying flilllJlthil sllllel111fits cOt C~LLAnOltAtQ~ESL all)
(tblCOrnlt~Y) Wlllt c(gtrnlprise the ~nlillWe Sheet lIsat3MQ31Z11t6 llie StalemeJilt egtpound JiltiJ Jlifid
ILGss t1leccash flow stlitementior the year then ended and a SJlmmlltyQf thee $lglliollt acentcentillptmg
poJlo10B dollier exphmaloryinrormation
MamtgemeJifs ResponsIbility for the Fi1ancialStiltel11enis
1Jhe CQinplIIlws Soatd 61 tlitel1tots is responsible for tire matters stated inSeailoli1i l34(5) at tire
tompllllllS Aot ti)l~ (the Act)wlth respect to tbepreparation oftlese finallClaistateme tstbat
Vjj a blo altd ilfltfr lew of tbll llnattcililpostibil and tiMrtal perfolmanlt(l fthe elf) any ll
1l(j(jQljIiti1l1l1 ~i~b tbcent ail~liiltirnt llfjjj(jiifJb~ gliJlrlll~ lIecellled irt IUdlalnciliiIlliigtlt ~centpliillliW
Standlllds sPecifrcentQ U1dQr Sle~u 133 IiIf tbe Aet rellO Witll RiuJe l or Ine Qcentmjllltries fAcelIrtts) Ruies20M l1hs responalbifloalso lnciudes rollintenlll~l1If lIdqUl)te I1Gcouutillg fllcentritsin
aecordance with theprovislous of theAot or safeguarding of the assets of the Company nd for preventing auddeteetlng frauds lind other irrloguJalities seltrction and applicationof ap priate
licCol1iltitig polipies maklllldliclgmelltSand eslljjjjjies that lite reasonable and prudent and
inipJementatiollalldmaJfiteiiillllte of adequate iUitemat financial controls that were 0 rating
Ilffeetively Cpr etlsudl1g Ibe 1IcentiUrllc)andeohlliletcentJl4SS0flheaecollrtting records releianl to the
prepatatiQn andll~IlS~htaiion (jfith~ fllraltltlillshttltiltttellts tllil give a true and fair view and re free
lhm material mis$llllemMtWhet1ietlilue to ftal1dof error
w
~ JPSHAHrA bull bull bull 0 imiddotElihmiddotmiddotbull5amiddotmiddotnghflilmiddot amp 0bVlaquo (lt101 LL8fCAmiddotmiddoti bull c eH~RT~~et)AOODtlNTANTS
-~
2 ~sam3rililn26laribloIiU ()(jjQnyR~lraquoCQuJl~llfllI~ Vadll(illramiddot ~9b 015 T~I(02S~233 7Q64~ll(0265)235 43a6 Em~ltsha~sanghVigmallto~
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We ltalle tlIk~ll mi~l~oll)lJ t1)~ prmSlolJ$ of the Act theaccO1tlJg and alltIrllig itlll atdS and
mattlilll which atll t~glJclred tQ he llIcentlude4111 the audit repOtt unq~rtlllaquo pl1OVfsJrmil Qifthe A ~d the
iRIlesttiade t1terellnle
WIiCQndliltei1 our allQlt 1ft accordlAt61fwilh tllil StandardS oil Audili)g spified tind Seettoll
143(1P)ofthe Ail tkoseStalldarcis requtte that wecQJiply Iilitli etl1ai retWlelllenls Mil Ian and
yewIll) the 311dMlgtbotain rflsotiable assItiilJCe aboutWllether the flijaliQlitl slateriielfs ate eeftom
materia ntisstatement e
$gtnl1udft ilVpVesperfotnUlg procedures to olliitll auditevlltllllgt abqql the arnounts d tire
d$i1rsilfes fn tlle financial statemenls the proeedlregssliteolelti ltipetld en the atldltrsgtjllmiddot gment
InlllUdllil tfie assesstrtent 0ftlerhilis6tmllte~i~J n11sslaemefit ()f~lre Jjnailcentlal stMeilJeills wh Iit due
10 ftllld ct error lnlllliking thlilslHisk as~ssments the alldltQt eOllliders Mem filiuleiel eonlt61
tltilevent tltJ the COlllp1iIlYs prep~li(jti off the j1lfancialstateil~ts that give a true llnd 1itirl~W ill
middotbtder to ilesl~ audit J)l9Cilldlreslllet are apj1tQptillJe in tl)eliteumslltm~cent$ An llltlit ais) I centludes
epoundauating 111 epprl)prill~lJessl)f tl aileOlllllillg ~i1ieh~s llsed andtbe teasonllblel1eSS of tbgt
acentllouulltgestimates mlldll 1Iy the 00rlpanys DlreeI6tll lIS weI as eYcaltiaU1lamp theDvetlltl pres ntaliQfi
centfthe f)naneia1 stlltem1ll1ts
We blljlI tlrattheallPit evldel1l~e we have obtained Is upoundfotellatrcl~lPtopriateto lltlddegt~$lii
lPt our8lliiJ6plnlQnon the filJancentj~1 statements
OpUiton
Ihour opinllli iuld to tlte Mst ofoar ltifo11i~tim~lrdaooord1fgtli tile 1l~tlilnatiDus~iYelilQs tb~
atoresalil fiIianelalstatemefttsgivl the jllfoJ1natioutfequJred bydill All lnthlii manuel soreqwr d llill
~be a trueamf fa~ 1lew incon(~fml~lt~lth the llcentcountmgprinclples SIl11erany accepted in In il wi ihestlttliimiddotofaffults pfthe CbJnailyasal 311031~011i llrtdit1P1fitanJil$ ltash floWs for th leyen endedOlltlilJt date
J fISttAII
2~$MlarilMmiddot~~GH~rlbhaklcaQny RlIee COUrs~IlIGle a~Qda1Aa~ilo15
M em lLBFCJI
Thh(~265Y 233 7064middot Fax(Q2l5)23Smiddot43SI middotEll1allsllijh$llllllIWilmailoom
RepQrl 011 Othel Legal al1iJ iQ~gullltOly Requilemlnts
A~te~lted ~y thCompanles (AlmtlgttS ReIQrt) Qrder20l6etbe Otller) i~sued by the e1)trllil
OOVall1p)lllX pnldi~ ilj terms of sub SeltiPll (ll) of seetion 14a ot the Cp1lJlIallles Aet203 We
ghe inthe Anne~)JJeA slatements on tie mattets sp~ifiet1 ill plltllgrJ1hs 3111Q41fthe ordat to the bull
elitwttOlpplica01e
Asreqllted by$eettoll 143 (10) OllheAet Ye repQt that
(Wi We traye SQuglltand ubtaUrad jllIthe JllfQtnatMaud exph1naPllS which to thebullbestlofoW
mowedlteallIPheiefweteneceSSllry furthe putpi1sesmiddotOfour audit _
or) III ourOpilliouprel1eJ booksofaecoJlJlt asrequlredby lawhJlebeell keptbytileCom
filrJ$ iblp~at$tioD DUt exarnciMtiun ltfthbScent backs
(il nne JllU1lt1e Sheetihe SratementmiddotofJlNi andLoss and the eash ~OW$tlyentllnlentde
hythls iRelpttate inllgj7oornelJt wlthihe books afMcoUnt
(liI) moM ppllflibJi tile aftI~sall lilttaficfal Stiitliments nottilJy with the Aecounjil~ S dltdl- ~plcentifled nttdet S1Ction 133 ofthe Act ~l)d with Ru1e 1ofheCQUjianies (kccouut~) fIlls
zrJil4
(e) Ont1w~isef the Wfiltetrepresentations te~cent(wdftpm the dtrectors as Oil ~tl()lllZ(llli taken
6il tecotd ibythe 13Qllfd ofJiteclofs noneof tim dllfeCtlrl is rIftSC(llaJtfed as plO~hll) from
heilJgappointedas J ditelltot III terlilllofSeciion 1MCZ)oftlieAct
(fj the cPtllpany hasatJ~~l)fe itteilil~iiiiiMcihjoontrllrs systemilJ p1liCeamther~ s J)l
operatingeffiletivene~idt1i~ncb llci~rtlol~ Atep6rigiviJB~F Icent$Pti1sibltlties lind llpinlQ blls _ - Igt
bilillt ailllexedltetewlth
fllf lWt1i~r~J1ltot to middotthe utllet matters to b~ mrtludeli inthe Auditrs Replll ill aCcQtdllnce with
l1llliN 1iNheCotnpanies(A~dit lIl1d AuntQ~) Rules 2bJ 4 inOUl opinion ana tllltl stof
l1IurtnfOlltlllliM lIhdaCcotdingio the oxplanatiQJls given to15
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10 The Companyhas alSclo~eil tire hqpad of penaiqg litigatlGos OR Itsflnanelalpositk n ill itsfincialslatCi1ielts
JiIM Clnrp~)lYllas mlldeprllVisll)lltefllkediindeF tbellPpjjqlltllll llI-W Q1 llOOOn tiPg s~ll1dlllds teurolt material foreseeable lasses If any on longcentermcootracls lnclu ing dilvtluve e6lltrtlcentts
iiL The~e has beeIoodellly ill ttamp11sferrlttgltIoQllts 1elulredW be ttallsfeueltl td riiYest~r Edullatliln arrd IllilckmFllldbythe Company
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ANNEXURE TO Tm INallt)PENJ)ENT AUDJ[ON~S REPORT OF E~N frATE ON T1tEPiNANC1AL Si1AJIEMENT OJ CQIlAL LABORATORIES LrDAS ON 31st MARCIUtJ16
klll0rtontheinteJinliLflnllinllflrl coofttolsnntbllclause(j ofsob ~Icenttlon3middotr
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fo ihe mllmhers oicQr1 hJlgtorlltories Ltd Wiellaeauditedthe tnternll 1JUlI1Qial cQ1trGlsoVltlr fl1lllt~illil repCireil1g0f SIrtlle bra aho_orills Ltd (IeC()l)lPll11Y)as of Mith 3J2~ltJ itt il0~llJ1etitl1fwith onf aUdit 0middot the stanillilonefl]jaoc~lllstlltemtlntQflheCompaJY foJfttte Jllar endedontlWi date
MilllliJlllmelts resPQDsildUty pound01 internal financiaconltrols TheG()nlpanis Managemllnt is responsible fQr estahishlngmiddotand maintaining infernal fi cial COOtl018 based 911 the ~l1tll~ltar CQl1tfetI over tltll~ncent1a1 te~Ql1iitig ctiteril established by the centomp~yenc(m~qeringtbl ~ss(1)tillmiddotc)mPQitents of iotefllltl contl~Ql Stated intlte iJuidaftce middotote on Audit of Internal i1il1Ji1Jlll Cpl1trolsmiddot Oyer Financial RepJfilng issued hy the lwtitut Of Chartered ~CCOUl1tJil1sOfln~Ha Thllse responsihillties include the aesigj itliplernet1tatiooand maintenance Qfldegu~tll illteliDlIl tinancillleontrol~ that were Ii1perafing effilctivtll) poundor ens ring lh~ mdlir~y amJ e$(llilentean1gcfoflts business includlngadherettce to 1iIle C(it11pam~s polies th~$ilfegijarltt~gQfits a~~tslhePreventiQl)and ihttTllltion oJftaudand errors theatollr and GomplltWs$ Iilf tlte accounting records aliittimelyprepamtion oftellllble nf1andial informa on ll r~llllt~tl lIltl~r The Oornpanies Act2913
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OUtt~pQMI])i1I~~ is to express-an opinion 01) the JQIJiI1mys tnternaltinancilt ellfittQI~ Iiet financllil tcentlloltillg based-on ()l1rjl~lt We condl~ed olltalllit in accordance with tire Gnld ee Noteon Audit of1lntemalllnllnllttlcentonttoJ~ Over FiMncial RePiltiing (nthll Ollidimell 11 tel) and the Standlttrds 01) Audltingls sp(cifiedurrder section tfpGaQ~of Campanili A~ ZOl ttl the el(tentapp1icable lOan 1I1141t lfl1tetnaI tinancial contrllls hothiapp1icahttl to anaudit of t~(lTIaJFinanciaICmttols G-poth Issued by theIllstftote (lfGhlllftetedaceoulttants of dia thoswStlDdar~s 1ll14 6t11qlIDee bil~te require that we cornjiiy wUll ethielil tequiremens and Ian Mdpetlftrm the audit tJJ obt~in r~llSPlnbleassutanee middotabolltihefFtet adequate itttetnal flnlleial co(lttols 1yenerlnajlcialtePotiingwlliScentsJIj))lfsAeGland ntail1tllined 1I11cli Ifsuch controlsape ated middoteffectlvelY in all material respects
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Durandft l1Vollrlls perlbtltting procedures to obtliln alildit evidcentnee abaJlJ tbe acleqpllCY f the I itiUltnal firtaMlill eorlttols systemover fin~noialreJlottlgnl Ilifir ape~qtingetfeQtlvllrjegt bull Our IIIUt of ititerl1idfJfI~~laJ controls overflnanclalepol(ipg iPgl~ed QPtainlng an un(lluSt nding of lltetnli flltllclltl 0001t61 crVllt fiMiclalreponingilssesslng the llsl fuafil mater]we less I exists and testlll~ and evaluatln~ the design and Qperllting effeclveness ofimernlgonirol hasell I
filn the assessed risk Ihe procedures selected dllpenlt em ~eaudi~ts J1Icgtnent iMlqillg the 1 tassessmentofthe risks otmaterMmisstat~bJ~nt oftlteltnregelal$at(lfllenIS WletJ1~rd1letl fiadd [
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r IWe helieve that iheatldit eyjrlencewe have Qbtaineil issuff1cientan~jj~grl1ptiate to prli idfla
basisrOT OUT audit opinion on till )I)teQlJl fhllmda gont~ols systemllVeTtlnaneial feporling
MeanlJlgofinternl IanelillCQltr01QyerUl1llJlliat rlpllrting
A cOfupanYs lltel1l1al gullnollli lt)l1tQloyer ltmUcialreportlng isaprocess designed til pr vid reasonableessuranee regardlng the relilibJHty of fluanel] repottng and the preparati It M finanelal sratllllli)mts formiddot~tlrnal p~rposes Inllcllordanee wlthgenellllly llcentcentepted aeeou tlll8 pdnclple) AcompallYs intllmatiinaneiaJ control overnnllnoilll rep0riihll inclUdes tliose po id~s mid ~Qcedures thllt (I peJtllhl to tile iUlll)teltMPe Qfrecouds that ill reasonable tail lccllrately and fair]y remet thetransll1ltions and 1iispOsi~ins of the assets of the company] (2) pO~tde reasonable assuranee thattransaptions arereeetded llsneeeSsaxy to pei1tilit preparllti n of fiallllcentlalc statement in lIiCetltdlnce With gellera115aecepted acootlJitingprineipIes and tltat re~Pts ltutA eXlllndltnres ofthe company arebeingmMeoily ifiaecordaRee with eutheriza lOt$ ofmMagemetrt and directors iJFthe eomgtlllyand (3~ providereaslilnahle assnrance rllla liP$ p(llveltdon 0rtimely detectlQrtof unauthorleedacqulsitionuse oedlspositlon of tbe CQltlp nys assenrthal eouldhave ltiltatllriaeffebton thefihailltlialSlatemenls
Because of the Inherent litnitalion of internal filmnci alIlQIWrols over finan(lt rltpoct1g inolllaittll lJIe possibilitY at collusion or ~mpropet lUanag~1lwrioyenel1ViltteQf cllntrltilil mat rilll mlsstatement$dge tll IJTOforfrlludmayoccuraniltr()1 bed~teQjtelJ AIsli11 projections pi any evailuatioI) of the intemaltrtln9i~rcol~olsYOllr1tllancMrep0rdngtofilttlr~ period are subJe t til the risk Pqlt the lntemllF flnMiiaIQQt1tt61nVerfiflalloiaF repotlfng may become lnade-ate l1eellllseof chaflges lnQQilcrlflqnS~ or Hit tile degJee of co1tlitianClgt with (he poltcie or prQQurcentsmalideteri0tale
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ItlotlXQpittiell tbeC(itlf~aoy has ili~Lrnraterial respeetsen adiJqual1l internal financlllloQt1 ~ystetnltlYer fihattclllL riepo~llgandSUllltnte~111Jl fll1ancial cDntroSoftll UnatlClalre~ottlnll operlltinlplffutlvely- asmiddotlitMargb 312016 based ontheInternal conlJtdl overll11aileililrtpe jr i1titcrlilllsliWlisled IPY tpeCpmpllllY considerlng the esSehtialcompilmnts oflfittmalconttol stated ill theGUidanceNpteQll A~ldlt l)flntemaIFmanoiliIContrQIs Ovw IFIllanelal Bilil1ortin issued h)itbl Tnstitute QfQllatterelif Accountants OfIhdia
Fo~ urd on pehalf of SBAll SANtillV AND COMPANyen ClIAJIXpoundRED ACCOUNTiNTS leAl RlJGNO 0109794W
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(ltW~tlii1l tl1 inabOYllttlte 1lu(jitQrSi repenofeven dateto tbe J)lcentrtrberso CORAL LAJ30RAOmES LJMl1EDoillne fJlancentjlll$tiitetnllnt~ 10theyear ended 3102016)
1 (Ili)TlIeiZOmpEllJY hallmaintairted PrQper records showilrg ttIl patliieulllsihelual Iii qllllti~lie lt1eWrsand $ltu~tmnQfFhled Assets
(b1 1lllt~ml~ets hll5ic b~nphysi~aIIverified by thel11anllgelilent at teasnnilil intervals No mllte1lll1dJScentrcIlllti9ies werenmmed onSlich verlfiGlftion
(Q~ Inourqpilliouaml apcoclIhgtotlte ufol1matian andexplanationgiven to us th titled~ds of immovable properties are held in the nameofthecomp41lY
ii Plilystcalvtlilneatiol1 ofInventoryhas beeneondqcjedat reasoMbe ntetliaI by managcentli~lit i
ilhdno D)llrerMldisetepllnPw WrenotilleaOI1swelvcdficatlon
m kltpcptding tothe illf01Qlatkm and exptAAatilln given to IIgt theltompltlyen hM 11llgtlltltel ~y
lolllS secured or lnSee1lfed to ~llml1anleS flttfisUmited liahilitY IJ_erlll1ipsootnlf ~arties covered lre~lsternlaltttlaquoineil ~s 189 afthemiddotAct I rti view qf the ilhcfVe prqvlsiQls of clause 3 (iii) (1t)GD) and 0) are tOt llPpJeable to the IcollJlany I
iiV Inlllllotiblbn EIlJd lcent(Ij)tlmg to tnfprtrfatiPltliftd eXlfl1l8U0l1sglVeii tqJ~fbelll pany lJilll in
respeot ot IIlllaS flJltes1ltiilentsgualantees and secUfty prolvlsI0lils l)Qmpliedwith s tlQraquo 1783 and sectlonl116 oil1he Cllrnpanics Act El013
v J1lording totliliWfol1l1~tiQlJandexplanatiangiVeinp ulI the CltWIpany htls not eeepterl IlnY
III QepQsitsIIencethe jprcvlsioilsofclause S(II lUe notappllcableto the company
Wi hlloyenelioAdly tevleyltlithcent bollkSlgtpound acentcentPllllts maintained py hilc0mpanyp ampiJool to the j rule~ made by theCenmlaquoi J3QVllmment of India Themaintenance ofcost reco (Is has beep II ptelicdveduls t411(j) of l~e Act anq We lUeof the qpim1l) that primaflcil tIt 1ll1eseribed
alllloUlilts llItllreeords navcentbeen made anilihaintafneQ Wemiddot middothavetrot hOWllYer eadlltaiecl eliiUiflfilltionQftherecords Withayenlew t1deiennllleWllitthlj they are ilCCllratetit co pllt~
ViL (lJ) AeeQOOing to the OQoyenstlid Je~otds ~produeed aildegtltlU1linedby Usin l1ord41loe With ~lIetmlyen~llted AudltfrlgPta411ceslnJndi1J lihd ilsQmanagemeht representation unQis)Iuwd statiltQqdu~s intespe~ of lrovfdentlbnd lemwloyees Sfatelnsmilnce lneltgttne t SilWs tax Se~leela)(CUjtotfi d~~ ~xillseifaJY Vii1tlekiaed fax CeSSllnd ltlth materialsl qtoty dues ilppliealiiletaithas beelilXegularly depositeClwithaiproptiate authorities
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~tl AccQrlingto the records of the company the disputed dues in respectofexc] e dutyof Rs ~8$i ls ~re~i())illi YeartslS561acs)setvicetax Rs nil (preYousyeal Rsnit) and sales tax Rsml ~rIlV1U~ ~emiddotat RJgti lil) income tax as nilprevions year Rs nil ) as at TIiar h 3 I 2016 hallenlll heen deposited WiiiliL appropriate authorities ilrtcl no prevision has been made for the same
St Nmueof fue Name of Amount Peded to which the FomID where 11(jmiddot istatllteJJlleSmiddot ~Si in ameunt relates dispute is pellding
Lacs) OfJ)he centrl1 tIQi~c IS56 2(Olmiddot032003middotQ4 Ik SUptCU1e centbm
ElIcentise~ct t944 tgtuti 200405 iMewDIl11 I _
]houtQPinioll and acoofilittg to theinformatlon andellplanatigifgJYcn tous anlil tbllljoolt$of acebunts Verified by us the company has not4et1lllt~ in liepa~tllnt of dll t~ tIJfanciil1 instit1ltQnbarik((joVCll11llllnf 01 dues to tebenwe hold~
is llet iufilrrnaijlJugivln to usno 1111IneywaSnilsedibY way 0-pound initiaipubfieoller orfurther i J1ll1ilfcentofe~ (in~Iuclingdebt lnstfuments) No term loaasarelfliseobiy thecompafiy duxillfl the
-1 year
amp Durittgtlie ceurse ofour ~xarniWltlonQtbotisiofacCOJIDt~olnrled in acentcentordte with tb~ Olltetaly Aqcepted Al1diting Standards 1m IJldi~ wehll~e nllther (jl1me lI(rossmiddot InstlWice lf fraud on er h~ the oompany either noticed er repotied dmng the year nor 11 ~iVewe been Il1formed ofampuch lease-by themanagemetit
xi Acent~9r4ng to int9rrntttlOn and elltpIanatlon g1VIltto U$ and ltbcent books ilpound acoilitts ~~finlamp b~middotI1lS the mnnagerlllfrettlJIDeratlonhl becn pard pr pr()~idel incompliance With SeetiQn97 readwith Schedute Vto theCompanies Act 2019
Thecompany is nota Nidhi company hence th~ prQli~~OIli cr$ lJaUl111 3(xli)aIlnQt alJPiil)aamplil to the Cqmpany
xiii All transactians with Jh~ related PaJtties ate incol[fp-liancj wi~h seetion t77 and 1880pound -Companies Act 2013WIJcenttcent appIii1ajfe and the details haYe been disclosed 11 he 1fillcillii Statements etc as required hytheapplicableaceountingstoodards
x~v According to infermation-and explanatlon given tlJ Wland the lJQdks ofaccounts j etified by us the company dutifigtheW~lthaSlilJtlllade an preietefitill1 liflbt1tlent orprivate plementqf shares or fully or partIlbdiverti1ile debentures ieJ1l tl1lprovicention Qfclavse $ xht) are tot apptlCllheto companies
xv According to inforrnati0lande~Illanationgiven tous and the bQoksofaOcliUbts elffied by us the rompany has not epteted into any noncashtrensacticn withditelt0rs ot perijl) seomrcct64 Iwithit I
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FOR $hilr$llughviampCo (Clill~ered AeeQUUital1ts) ~~g No~r09794W
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The ltompatly is Wilt req)1ired to be regl~tered 1Jniiletseetlo 4SrAllfthe Re~elVe
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AN ISO 90012008 CERTIFIED OR ANIZATION
~ C ~aqaiiI ORAL LABORATORIES LTD ff)NTRTIONAL~~
+gORP OFFICE 38 Patanwala Compound ODP Shreyas Cinema LBS Marg Ghatkopar (West) Mumbai ~ 4 0 DB6 India Tel 1-22-250052462500820825005245 Fax +91 - 22-25004893 E~MAIL accountscorallabcomWEBSITE wwwcorallabcom
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To The BSE Limited Corporate Relations Department 1st Floor New Trading Ring PJTowers Dalal Street Mumbai- 400 001
REF SCRIP CODE NO524506 SUB Declaration while publishing Annual Audited Financial Results vide SEBI Circular
25th May 2016
Dear Sir
With reference to SEBI Circular dated 25th May 2016 the Company hereby declares th publishing the Annual Audited Financial Results it is found that the Audit Report is free qualifications and is of the unmodified opinion
The Statutory Auditor of the Company is having no Audit Qualification out of the Statuto
conducted for FY 2015-16
For Coral La~ories Limited
m3~gt~ Navin B Doshi
Director (DIN 00232281)
Regd Off ampFact 3085 Village Post poicha(Ran) Taluka-Savli Baroda-391780 CIN L2423IGJ1997PLC031669
2016
ated
t while f Audit
y Audit
Shah Sanghvi amp Co CHARTERED ACCOUNTANTS
2 Samarpan 26 Haribhakti Colony Race Course Circle Vadodara- 390 015 Tel(0265) 233 7064 bull Fax(0265) 235 4386 bull E-mail shahsanghvigmailcom
J P SHAH MC rn LLBFCA
uarterl Financial Results Com an Pursuant to the Re ulation 33 of SEBI Requirements) Regulations 2015
To
The Board of Directors of Coral Laboratories Limited
We have audited the quarterly financial results CORAL LABORATORIES LIMITED f r the
quarter ended 31032016 and the year to date results for the period 142015 to 313 016
attached herewith being submitted by the company pursuant to the requirement of Regulati n 33
of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 hese
quarterly financial results as well as the year to date financial results have been prepared n the
basis of the interim financial statements which are the responsibility of the com anys
management Our responsibility is to express an opinion on these financial results based n our
audit of such interim financial statements which have been prepared in accordance wi h the
recognition and measurement principles laid down in Accounting Standard for Interim Fin ncial
Reporting (AS 25 Ind AS 34) prescribed under Section 133 of the Companies Act 201 read
with relevant rules issued thereunder or by the Institute of Chartered Accountants of In ta as
applicable and other accounting principles generally accepted in India
We conducted our audit in accordance with the auditing standards generally accepted in ndia
Those standards require that we plan and perform the audit to obtain reasonable assurance about
whether the financial results are free of material misstatement(s) An audit includes exam ning
on a test basis evidence supporting the amounts disclosed as financial results An audi also
includes assessing the accounting principles used and significant estimates ma by
management We believe that our audit provides a reasonable basis for our opinion
In our opinion and to the best of our information and according to the explanations given to us
these quarterly financial results as well as the year to date results
bull I
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r~~ llllpres~I~~gin ~lPfIMQli With the telllitemems 6fRegulati6fi 93 oithe SEBI ~lstingmiddot Obu~lifions anllLfiseloSUieRelrements) Regulations 2Ol5 in this~gatdllOd
(i~ ~veatIUeand faih1ewof thenetprP~tllOSS and other fulllwialmiddoti~rIlatioll illt the ~aplusmntet
ejtded 31~j)g016 astelJas the yQar to date reslIlw forihQ penoO from It2015fo3l0320lii i
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TO
THEMEMBERS dFCORALLAtJORA]dRlJJiS UM11ltfi
W~l1allt( aU1itildtall aCQgllpanying flilllJlthil sllllel111fits cOt C~LLAnOltAtQ~ESL all)
(tblCOrnlt~Y) Wlllt c(gtrnlprise the ~nlillWe Sheet lIsat3MQ31Z11t6 llie StalemeJilt egtpound JiltiJ Jlifid
ILGss t1leccash flow stlitementior the year then ended and a SJlmmlltyQf thee $lglliollt acentcentillptmg
poJlo10B dollier exphmaloryinrormation
MamtgemeJifs ResponsIbility for the Fi1ancialStiltel11enis
1Jhe CQinplIIlws Soatd 61 tlitel1tots is responsible for tire matters stated inSeailoli1i l34(5) at tire
tompllllllS Aot ti)l~ (the Act)wlth respect to tbepreparation oftlese finallClaistateme tstbat
Vjj a blo altd ilfltfr lew of tbll llnattcililpostibil and tiMrtal perfolmanlt(l fthe elf) any ll
1l(j(jQljIiti1l1l1 ~i~b tbcent ail~liiltirnt llfjjj(jiifJb~ gliJlrlll~ lIecellled irt IUdlalnciliiIlliigtlt ~centpliillliW
Standlllds sPecifrcentQ U1dQr Sle~u 133 IiIf tbe Aet rellO Witll RiuJe l or Ine Qcentmjllltries fAcelIrtts) Ruies20M l1hs responalbifloalso lnciudes rollintenlll~l1If lIdqUl)te I1Gcouutillg fllcentritsin
aecordance with theprovislous of theAot or safeguarding of the assets of the Company nd for preventing auddeteetlng frauds lind other irrloguJalities seltrction and applicationof ap priate
licCol1iltitig polipies maklllldliclgmelltSand eslljjjjjies that lite reasonable and prudent and
inipJementatiollalldmaJfiteiiillllte of adequate iUitemat financial controls that were 0 rating
Ilffeetively Cpr etlsudl1g Ibe 1IcentiUrllc)andeohlliletcentJl4SS0flheaecollrtting records releianl to the
prepatatiQn andll~IlS~htaiion (jfith~ fllraltltlillshttltiltttellts tllil give a true and fair view and re free
lhm material mis$llllemMtWhet1ietlilue to ftal1dof error
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We ltalle tlIk~ll mi~l~oll)lJ t1)~ prmSlolJ$ of the Act theaccO1tlJg and alltIrllig itlll atdS and
mattlilll which atll t~glJclred tQ he llIcentlude4111 the audit repOtt unq~rtlllaquo pl1OVfsJrmil Qifthe A ~d the
iRIlesttiade t1terellnle
WIiCQndliltei1 our allQlt 1ft accordlAt61fwilh tllil StandardS oil Audili)g spified tind Seettoll
143(1P)ofthe Ail tkoseStalldarcis requtte that wecQJiply Iilitli etl1ai retWlelllenls Mil Ian and
yewIll) the 311dMlgtbotain rflsotiable assItiilJCe aboutWllether the flijaliQlitl slateriielfs ate eeftom
materia ntisstatement e
$gtnl1udft ilVpVesperfotnUlg procedures to olliitll auditevlltllllgt abqql the arnounts d tire
d$i1rsilfes fn tlle financial statemenls the proeedlregssliteolelti ltipetld en the atldltrsgtjllmiddot gment
InlllUdllil tfie assesstrtent 0ftlerhilis6tmllte~i~J n11sslaemefit ()f~lre Jjnailcentlal stMeilJeills wh Iit due
10 ftllld ct error lnlllliking thlilslHisk as~ssments the alldltQt eOllliders Mem filiuleiel eonlt61
tltilevent tltJ the COlllp1iIlYs prep~li(jti off the j1lfancialstateil~ts that give a true llnd 1itirl~W ill
middotbtder to ilesl~ audit J)l9Cilldlreslllet are apj1tQptillJe in tl)eliteumslltm~cent$ An llltlit ais) I centludes
epoundauating 111 epprl)prill~lJessl)f tl aileOlllllillg ~i1ieh~s llsed andtbe teasonllblel1eSS of tbgt
acentllouulltgestimates mlldll 1Iy the 00rlpanys DlreeI6tll lIS weI as eYcaltiaU1lamp theDvetlltl pres ntaliQfi
centfthe f)naneia1 stlltem1ll1ts
We blljlI tlrattheallPit evldel1l~e we have obtained Is upoundfotellatrcl~lPtopriateto lltlddegt~$lii
lPt our8lliiJ6plnlQnon the filJancentj~1 statements
OpUiton
Ihour opinllli iuld to tlte Mst ofoar ltifo11i~tim~lrdaooord1fgtli tile 1l~tlilnatiDus~iYelilQs tb~
atoresalil fiIianelalstatemefttsgivl the jllfoJ1natioutfequJred bydill All lnthlii manuel soreqwr d llill
~be a trueamf fa~ 1lew incon(~fml~lt~lth the llcentcountmgprinclples SIl11erany accepted in In il wi ihestlttliimiddotofaffults pfthe CbJnailyasal 311031~011i llrtdit1P1fitanJil$ ltash floWs for th leyen endedOlltlilJt date
J fISttAII
2~$MlarilMmiddot~~GH~rlbhaklcaQny RlIee COUrs~IlIGle a~Qda1Aa~ilo15
M em lLBFCJI
Thh(~265Y 233 7064middot Fax(Q2l5)23Smiddot43SI middotEll1allsllijh$llllllIWilmailoom
RepQrl 011 Othel Legal al1iJ iQ~gullltOly Requilemlnts
A~te~lted ~y thCompanles (AlmtlgttS ReIQrt) Qrder20l6etbe Otller) i~sued by the e1)trllil
OOVall1p)lllX pnldi~ ilj terms of sub SeltiPll (ll) of seetion 14a ot the Cp1lJlIallles Aet203 We
ghe inthe Anne~)JJeA slatements on tie mattets sp~ifiet1 ill plltllgrJ1hs 3111Q41fthe ordat to the bull
elitwttOlpplica01e
Asreqllted by$eettoll 143 (10) OllheAet Ye repQt that
(Wi We traye SQuglltand ubtaUrad jllIthe JllfQtnatMaud exph1naPllS which to thebullbestlofoW
mowedlteallIPheiefweteneceSSllry furthe putpi1sesmiddotOfour audit _
or) III ourOpilliouprel1eJ booksofaecoJlJlt asrequlredby lawhJlebeell keptbytileCom
filrJ$ iblp~at$tioD DUt exarnciMtiun ltfthbScent backs
(il nne JllU1lt1e Sheetihe SratementmiddotofJlNi andLoss and the eash ~OW$tlyentllnlentde
hythls iRelpttate inllgj7oornelJt wlthihe books afMcoUnt
(liI) moM ppllflibJi tile aftI~sall lilttaficfal Stiitliments nottilJy with the Aecounjil~ S dltdl- ~plcentifled nttdet S1Ction 133 ofthe Act ~l)d with Ru1e 1ofheCQUjianies (kccouut~) fIlls
zrJil4
(e) Ont1w~isef the Wfiltetrepresentations te~cent(wdftpm the dtrectors as Oil ~tl()lllZ(llli taken
6il tecotd ibythe 13Qllfd ofJiteclofs noneof tim dllfeCtlrl is rIftSC(llaJtfed as plO~hll) from
heilJgappointedas J ditelltot III terlilllofSeciion 1MCZ)oftlieAct
(fj the cPtllpany hasatJ~~l)fe itteilil~iiiiiMcihjoontrllrs systemilJ p1liCeamther~ s J)l
operatingeffiletivene~idt1i~ncb llci~rtlol~ Atep6rigiviJB~F Icent$Pti1sibltlties lind llpinlQ blls _ - Igt
bilillt ailllexedltetewlth
fllf lWt1i~r~J1ltot to middotthe utllet matters to b~ mrtludeli inthe Auditrs Replll ill aCcQtdllnce with
l1llliN 1iNheCotnpanies(A~dit lIl1d AuntQ~) Rules 2bJ 4 inOUl opinion ana tllltl stof
l1IurtnfOlltlllliM lIhdaCcotdingio the oxplanatiQJls given to15
NCQ
2~amarpilrj~6 Harj~~~~ CoIQny RaC1icr~urse Circle Vadodaramiddot 300 015 rel(P6S) ~~31OM f~(02Qamp)235 416$ ~ail shalijillllllvfgil8iIiCOm
10 The Companyhas alSclo~eil tire hqpad of penaiqg litigatlGos OR Itsflnanelalpositk n ill itsfincialslatCi1ielts
JiIM Clnrp~)lYllas mlldeprllVisll)lltefllkediindeF tbellPpjjqlltllll llI-W Q1 llOOOn tiPg s~ll1dlllds teurolt material foreseeable lasses If any on longcentermcootracls lnclu ing dilvtluve e6lltrtlcentts
iiL The~e has beeIoodellly ill ttamp11sferrlttgltIoQllts 1elulredW be ttallsfeueltl td riiYest~r Edullatliln arrd IllilckmFllldbythe Company
the
(If 1IlXlaquo$$1UJ -Ite iiMilil1bi1
FORShah Sanglvi amp C bull (Charter-ed ACcIUlltantsi
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~ ~~IpW[l ~ Hari~il~W~JonyRaCllCou(SeCiIClllYsQlllra ~O MS ~~11~~Eli) tlii il~FIl~laquo~aa5) 235 4Sas bullEn1aijlsh~h$OgtlyiQmiljlilgt9if1
ANNEXURE TO Tm INallt)PENJ)ENT AUDJ[ON~S REPORT OF E~N frATE ON T1tEPiNANC1AL Si1AJIEMENT OJ CQIlAL LABORATORIES LrDAS ON 31st MARCIUtJ16
klll0rtontheinteJinliLflnllinllflrl coofttolsnntbllclause(j ofsob ~Icenttlon3middotr
Selltlllll14SorflrceompanicllAcentt2013 (IUe Act)
fo ihe mllmhers oicQr1 hJlgtorlltories Ltd Wiellaeauditedthe tnternll 1JUlI1Qial cQ1trGlsoVltlr fl1lllt~illil repCireil1g0f SIrtlle bra aho_orills Ltd (IeC()l)lPll11Y)as of Mith 3J2~ltJ itt il0~llJ1etitl1fwith onf aUdit 0middot the stanillilonefl]jaoc~lllstlltemtlntQflheCompaJY foJfttte Jllar endedontlWi date
MilllliJlllmelts resPQDsildUty pound01 internal financiaconltrols TheG()nlpanis Managemllnt is responsible fQr estahishlngmiddotand maintaining infernal fi cial COOtl018 based 911 the ~l1tll~ltar CQl1tfetI over tltll~ncent1a1 te~Ql1iitig ctiteril established by the centomp~yenc(m~qeringtbl ~ss(1)tillmiddotc)mPQitents of iotefllltl contl~Ql Stated intlte iJuidaftce middotote on Audit of Internal i1il1Ji1Jlll Cpl1trolsmiddot Oyer Financial RepJfilng issued hy the lwtitut Of Chartered ~CCOUl1tJil1sOfln~Ha Thllse responsihillties include the aesigj itliplernet1tatiooand maintenance Qfldegu~tll illteliDlIl tinancillleontrol~ that were Ii1perafing effilctivtll) poundor ens ring lh~ mdlir~y amJ e$(llilentean1gcfoflts business includlngadherettce to 1iIle C(it11pam~s polies th~$ilfegijarltt~gQfits a~~tslhePreventiQl)and ihttTllltion oJftaudand errors theatollr and GomplltWs$ Iilf tlte accounting records aliittimelyprepamtion oftellllble nf1andial informa on ll r~llllt~tl lIltl~r The Oornpanies Act2913
~
OUtt~pQMI])i1I~~ is to express-an opinion 01) the JQIJiI1mys tnternaltinancilt ellfittQI~ Iiet financllil tcentlloltillg based-on ()l1rjl~lt We condl~ed olltalllit in accordance with tire Gnld ee Noteon Audit of1lntemalllnllnllttlcentonttoJ~ Over FiMncial RePiltiing (nthll Ollidimell 11 tel) and the Standlttrds 01) Audltingls sp(cifiedurrder section tfpGaQ~of Campanili A~ ZOl ttl the el(tentapp1icable lOan 1I1141t lfl1tetnaI tinancial contrllls hothiapp1icahttl to anaudit of t~(lTIaJFinanciaICmttols G-poth Issued by theIllstftote (lfGhlllftetedaceoulttants of dia thoswStlDdar~s 1ll14 6t11qlIDee bil~te require that we cornjiiy wUll ethielil tequiremens and Ian Mdpetlftrm the audit tJJ obt~in r~llSPlnbleassutanee middotabolltihefFtet adequate itttetnal flnlleial co(lttols 1yenerlnajlcialtePotiingwlliScentsJIj))lfsAeGland ntail1tllined 1I11cli Ifsuch controlsape ated middoteffectlvelY in all material respects
bull
JPSHAH(fmiddot~)Shah Sanghviamp CQ Mmiddot mLL8FYiAy eHA~TSfe[) Al)C~lJJrtilTANTa
-bullbull4
2~$lIfl1atllllh 21lJitalibhaktMjiJlo~ lilacs CdUi1Iflltliltle Vadodaramiddot 390015 rr(oZ6s1l337Q6t middotF(0265) 235 4388E~it shahlllllghvllillgma)1lXll)l
Durandft l1Vollrlls perlbtltting procedures to obtliln alildit evidcentnee abaJlJ tbe acleqpllCY f the I itiUltnal firtaMlill eorlttols systemover fin~noialreJlottlgnl Ilifir ape~qtingetfeQtlvllrjegt bull Our IIIUt of ititerl1idfJfI~~laJ controls overflnanclalepol(ipg iPgl~ed QPtainlng an un(lluSt nding of lltetnli flltllclltl 0001t61 crVllt fiMiclalreponingilssesslng the llsl fuafil mater]we less I exists and testlll~ and evaluatln~ the design and Qperllting effeclveness ofimernlgonirol hasell I
filn the assessed risk Ihe procedures selected dllpenlt em ~eaudi~ts J1Icgtnent iMlqillg the 1 tassessmentofthe risks otmaterMmisstat~bJ~nt oftlteltnregelal$at(lfllenIS WletJ1~rd1letl fiadd [
ererrors I Ii
r IWe helieve that iheatldit eyjrlencewe have Qbtaineil issuff1cientan~jj~grl1ptiate to prli idfla
basisrOT OUT audit opinion on till )I)teQlJl fhllmda gont~ols systemllVeTtlnaneial feporling
MeanlJlgofinternl IanelillCQltr01QyerUl1llJlliat rlpllrting
A cOfupanYs lltel1l1al gullnollli lt)l1tQloyer ltmUcialreportlng isaprocess designed til pr vid reasonableessuranee regardlng the relilibJHty of fluanel] repottng and the preparati It M finanelal sratllllli)mts formiddot~tlrnal p~rposes Inllcllordanee wlthgenellllly llcentcentepted aeeou tlll8 pdnclple) AcompallYs intllmatiinaneiaJ control overnnllnoilll rep0riihll inclUdes tliose po id~s mid ~Qcedures thllt (I peJtllhl to tile iUlll)teltMPe Qfrecouds that ill reasonable tail lccllrately and fair]y remet thetransll1ltions and 1iispOsi~ins of the assets of the company] (2) pO~tde reasonable assuranee thattransaptions arereeetded llsneeeSsaxy to pei1tilit preparllti n of fiallllcentlalc statement in lIiCetltdlnce With gellera115aecepted acootlJitingprineipIes and tltat re~Pts ltutA eXlllndltnres ofthe company arebeingmMeoily ifiaecordaRee with eutheriza lOt$ ofmMagemetrt and directors iJFthe eomgtlllyand (3~ providereaslilnahle assnrance rllla liP$ p(llveltdon 0rtimely detectlQrtof unauthorleedacqulsitionuse oedlspositlon of tbe CQltlp nys assenrthal eouldhave ltiltatllriaeffebton thefihailltlialSlatemenls
Because of the Inherent litnitalion of internal filmnci alIlQIWrols over finan(lt rltpoct1g inolllaittll lJIe possibilitY at collusion or ~mpropet lUanag~1lwrioyenel1ViltteQf cllntrltilil mat rilll mlsstatement$dge tll IJTOforfrlludmayoccuraniltr()1 bed~teQjtelJ AIsli11 projections pi any evailuatioI) of the intemaltrtln9i~rcol~olsYOllr1tllancMrep0rdngtofilttlr~ period are subJe t til the risk Pqlt the lntemllF flnMiiaIQQt1tt61nVerfiflalloiaF repotlfng may become lnade-ate l1eellllseof chaflges lnQQilcrlflqnS~ or Hit tile degJee of co1tlitianClgt with (he poltcie or prQQurcentsmalideteri0tale
JP SHAH MC(i bull I~ajFcoA~1~~~~~
2imiddot~tpln- 26 HMbMkfjCoIQlYjRilceQ()~ClIciQ VadQdara- 390 015 fel1(O~651 ts~ 7064 F~(1126~)235 4356- E(tIll1l shlih$lll1llhvlgmaiillQm
ItlotlXQpittiell tbeC(itlf~aoy has ili~Lrnraterial respeetsen adiJqual1l internal financlllloQt1 ~ystetnltlYer fihattclllL riepo~llgandSUllltnte~111Jl fll1ancial cDntroSoftll UnatlClalre~ottlnll operlltinlplffutlvely- asmiddotlitMargb 312016 based ontheInternal conlJtdl overll11aileililrtpe jr i1titcrlilllsliWlisled IPY tpeCpmpllllY considerlng the esSehtialcompilmnts oflfittmalconttol stated ill theGUidanceNpteQll A~ldlt l)flntemaIFmanoiliIContrQIs Ovw IFIllanelal Bilil1ortin issued h)itbl Tnstitute QfQllatterelif Accountants OfIhdia
Fo~ urd on pehalf of SBAll SANtillV AND COMPANyen ClIAJIXpoundRED ACCOUNTiNTS leAl RlJGNO 0109794W
~
Jl~ Propriefot MNOI034010 DAtH JUI
) May 2016 PtAC1iMlItnblli
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2Siimllliall~~ H~rQhiiiill Colony Rll1icento~l$eCirle Vadodall~gO~le rettB26~ ~33 1~-~iIK(if265j2354386 -Email shahsanghvigmaJfcolII
(ltW~tlii1l tl1 inabOYllttlte 1lu(jitQrSi repenofeven dateto tbe J)lcentrtrberso CORAL LAJ30RAOmES LJMl1EDoillne fJlancentjlll$tiitetnllnt~ 10theyear ended 3102016)
1 (Ili)TlIeiZOmpEllJY hallmaintairted PrQper records showilrg ttIl patliieulllsihelual Iii qllllti~lie lt1eWrsand $ltu~tmnQfFhled Assets
(b1 1lllt~ml~ets hll5ic b~nphysi~aIIverified by thel11anllgelilent at teasnnilil intervals No mllte1lll1dJScentrcIlllti9ies werenmmed onSlich verlfiGlftion
(Q~ Inourqpilliouaml apcoclIhgtotlte ufol1matian andexplanationgiven to us th titled~ds of immovable properties are held in the nameofthecomp41lY
ii Plilystcalvtlilneatiol1 ofInventoryhas beeneondqcjedat reasoMbe ntetliaI by managcentli~lit i
ilhdno D)llrerMldisetepllnPw WrenotilleaOI1swelvcdficatlon
m kltpcptding tothe illf01Qlatkm and exptAAatilln given to IIgt theltompltlyen hM 11llgtlltltel ~y
lolllS secured or lnSee1lfed to ~llml1anleS flttfisUmited liahilitY IJ_erlll1ipsootnlf ~arties covered lre~lsternlaltttlaquoineil ~s 189 afthemiddotAct I rti view qf the ilhcfVe prqvlsiQls of clause 3 (iii) (1t)GD) and 0) are tOt llPpJeable to the IcollJlany I
iiV Inlllllotiblbn EIlJd lcent(Ij)tlmg to tnfprtrfatiPltliftd eXlfl1l8U0l1sglVeii tqJ~fbelll pany lJilll in
respeot ot IIlllaS flJltes1ltiilentsgualantees and secUfty prolvlsI0lils l)Qmpliedwith s tlQraquo 1783 and sectlonl116 oil1he Cllrnpanics Act El013
v J1lording totliliWfol1l1~tiQlJandexplanatiangiVeinp ulI the CltWIpany htls not eeepterl IlnY
III QepQsitsIIencethe jprcvlsioilsofclause S(II lUe notappllcableto the company
Wi hlloyenelioAdly tevleyltlithcent bollkSlgtpound acentcentPllllts maintained py hilc0mpanyp ampiJool to the j rule~ made by theCenmlaquoi J3QVllmment of India Themaintenance ofcost reco (Is has beep II ptelicdveduls t411(j) of l~e Act anq We lUeof the qpim1l) that primaflcil tIt 1ll1eseribed
alllloUlilts llItllreeords navcentbeen made anilihaintafneQ Wemiddot middothavetrot hOWllYer eadlltaiecl eliiUiflfilltionQftherecords Withayenlew t1deiennllleWllitthlj they are ilCCllratetit co pllt~
ViL (lJ) AeeQOOing to the OQoyenstlid Je~otds ~produeed aildegtltlU1linedby Usin l1ord41loe With ~lIetmlyen~llted AudltfrlgPta411ceslnJndi1J lihd ilsQmanagemeht representation unQis)Iuwd statiltQqdu~s intespe~ of lrovfdentlbnd lemwloyees Sfatelnsmilnce lneltgttne t SilWs tax Se~leela)(CUjtotfi d~~ ~xillseifaJY Vii1tlekiaed fax CeSSllnd ltlth materialsl qtoty dues ilppliealiiletaithas beelilXegularly depositeClwithaiproptiate authorities
--------------------- -__--------~_I
J PSHAH Me mLUtFcA
2middotSamarpltlnmiddot~aililad~~lIli Colony RllceCou~ ClrclQVadodarimiddot390Qt5 Tel(Q26S)2iMOalt Faxi(O~e5)23S~B6 middotErniJil Shahsar9hVigmailrom
~tl AccQrlingto the records of the company the disputed dues in respectofexc] e dutyof Rs ~8$i ls ~re~i())illi YeartslS561acs)setvicetax Rs nil (preYousyeal Rsnit) and sales tax Rsml ~rIlV1U~ ~emiddotat RJgti lil) income tax as nilprevions year Rs nil ) as at TIiar h 3 I 2016 hallenlll heen deposited WiiiliL appropriate authorities ilrtcl no prevision has been made for the same
St Nmueof fue Name of Amount Peded to which the FomID where 11(jmiddot istatllteJJlleSmiddot ~Si in ameunt relates dispute is pellding
Lacs) OfJ)he centrl1 tIQi~c IS56 2(Olmiddot032003middotQ4 Ik SUptCU1e centbm
ElIcentise~ct t944 tgtuti 200405 iMewDIl11 I _
]houtQPinioll and acoofilittg to theinformatlon andellplanatigifgJYcn tous anlil tbllljoolt$of acebunts Verified by us the company has not4et1lllt~ in liepa~tllnt of dll t~ tIJfanciil1 instit1ltQnbarik((joVCll11llllnf 01 dues to tebenwe hold~
is llet iufilrrnaijlJugivln to usno 1111IneywaSnilsedibY way 0-pound initiaipubfieoller orfurther i J1ll1ilfcentofe~ (in~Iuclingdebt lnstfuments) No term loaasarelfliseobiy thecompafiy duxillfl the
-1 year
amp Durittgtlie ceurse ofour ~xarniWltlonQtbotisiofacCOJIDt~olnrled in acentcentordte with tb~ Olltetaly Aqcepted Al1diting Standards 1m IJldi~ wehll~e nllther (jl1me lI(rossmiddot InstlWice lf fraud on er h~ the oompany either noticed er repotied dmng the year nor 11 ~iVewe been Il1formed ofampuch lease-by themanagemetit
xi Acent~9r4ng to int9rrntttlOn and elltpIanatlon g1VIltto U$ and ltbcent books ilpound acoilitts ~~finlamp b~middotI1lS the mnnagerlllfrettlJIDeratlonhl becn pard pr pr()~idel incompliance With SeetiQn97 readwith Schedute Vto theCompanies Act 2019
Thecompany is nota Nidhi company hence th~ prQli~~OIli cr$ lJaUl111 3(xli)aIlnQt alJPiil)aamplil to the Cqmpany
xiii All transactians with Jh~ related PaJtties ate incol[fp-liancj wi~h seetion t77 and 1880pound -Companies Act 2013WIJcenttcent appIii1ajfe and the details haYe been disclosed 11 he 1fillcillii Statements etc as required hytheapplicableaceountingstoodards
x~v According to infermation-and explanatlon given tlJ Wland the lJQdks ofaccounts j etified by us the company dutifigtheW~lthaSlilJtlllade an preietefitill1 liflbt1tlent orprivate plementqf shares or fully or partIlbdiverti1ile debentures ieJ1l tl1lprovicention Qfclavse $ xht) are tot apptlCllheto companies
xv According to inforrnati0lande~Illanationgiven tous and the bQoksofaOcliUbts elffied by us the rompany has not epteted into any noncashtrensacticn withditelt0rs ot perijl) seomrcct64 Iwithit I
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Shah Sanghvj ace CHARTe~EDACCOUNTANTS
~1l~11l~Pll Z$iJ(aribhakti CQlony Ra~Cdurs~ CirCle adooara-390 InS Tel(O$61 233 7~jax(Qaa5) z~54aaa E-ltiali shahsai1Jhvfg01aiIOOil
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~it 1934
FOR $hilr$llughviampCo (Clill~ered AeeQUUital1ts) ~~g No~r09794W
JISHAlt (IttlprietoF) Menihel1~)dJI NQ Q3461O
The ltompatly is Wilt req)1ired to be regl~tered 1Jniiletseetlo 4SrAllfthe Re~elVe
JP$tfAH m LIltECA
ank onndfa
Shah Sanghvi amp Co CHARTERED ACCOUNTANTS
2 Samarpan 26 Haribhakti Colony Race Course Circle Vadodara- 390 015 Tel(0265) 233 7064 bull Fax(0265) 235 4386 bull E-mail shahsanghvigmailcom
J P SHAH MC rn LLBFCA
uarterl Financial Results Com an Pursuant to the Re ulation 33 of SEBI Requirements) Regulations 2015
To
The Board of Directors of Coral Laboratories Limited
We have audited the quarterly financial results CORAL LABORATORIES LIMITED f r the
quarter ended 31032016 and the year to date results for the period 142015 to 313 016
attached herewith being submitted by the company pursuant to the requirement of Regulati n 33
of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 hese
quarterly financial results as well as the year to date financial results have been prepared n the
basis of the interim financial statements which are the responsibility of the com anys
management Our responsibility is to express an opinion on these financial results based n our
audit of such interim financial statements which have been prepared in accordance wi h the
recognition and measurement principles laid down in Accounting Standard for Interim Fin ncial
Reporting (AS 25 Ind AS 34) prescribed under Section 133 of the Companies Act 201 read
with relevant rules issued thereunder or by the Institute of Chartered Accountants of In ta as
applicable and other accounting principles generally accepted in India
We conducted our audit in accordance with the auditing standards generally accepted in ndia
Those standards require that we plan and perform the audit to obtain reasonable assurance about
whether the financial results are free of material misstatement(s) An audit includes exam ning
on a test basis evidence supporting the amounts disclosed as financial results An audi also
includes assessing the accounting principles used and significant estimates ma by
management We believe that our audit provides a reasonable basis for our opinion
In our opinion and to the best of our information and according to the explanations given to us
these quarterly financial results as well as the year to date results
bull I
hah $aRghyj amp Co JP SHAiH MCm LLSFlCAeiAARTEiRlED AcCCiJ)ONlANTS
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r~~ llllpres~I~~gin ~lPfIMQli With the telllitemems 6fRegulati6fi 93 oithe SEBI ~lstingmiddot Obu~lifions anllLfiseloSUieRelrements) Regulations 2Ol5 in this~gatdllOd
(i~ ~veatIUeand faih1ewof thenetprP~tllOSS and other fulllwialmiddoti~rIlatioll illt the ~aplusmntet
ejtded 31~j)g016 astelJas the yQar to date reslIlw forihQ penoO from It2015fo3l0320lii i
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TO
THEMEMBERS dFCORALLAtJORA]dRlJJiS UM11ltfi
W~l1allt( aU1itildtall aCQgllpanying flilllJlthil sllllel111fits cOt C~LLAnOltAtQ~ESL all)
(tblCOrnlt~Y) Wlllt c(gtrnlprise the ~nlillWe Sheet lIsat3MQ31Z11t6 llie StalemeJilt egtpound JiltiJ Jlifid
ILGss t1leccash flow stlitementior the year then ended and a SJlmmlltyQf thee $lglliollt acentcentillptmg
poJlo10B dollier exphmaloryinrormation
MamtgemeJifs ResponsIbility for the Fi1ancialStiltel11enis
1Jhe CQinplIIlws Soatd 61 tlitel1tots is responsible for tire matters stated inSeailoli1i l34(5) at tire
tompllllllS Aot ti)l~ (the Act)wlth respect to tbepreparation oftlese finallClaistateme tstbat
Vjj a blo altd ilfltfr lew of tbll llnattcililpostibil and tiMrtal perfolmanlt(l fthe elf) any ll
1l(j(jQljIiti1l1l1 ~i~b tbcent ail~liiltirnt llfjjj(jiifJb~ gliJlrlll~ lIecellled irt IUdlalnciliiIlliigtlt ~centpliillliW
Standlllds sPecifrcentQ U1dQr Sle~u 133 IiIf tbe Aet rellO Witll RiuJe l or Ine Qcentmjllltries fAcelIrtts) Ruies20M l1hs responalbifloalso lnciudes rollintenlll~l1If lIdqUl)te I1Gcouutillg fllcentritsin
aecordance with theprovislous of theAot or safeguarding of the assets of the Company nd for preventing auddeteetlng frauds lind other irrloguJalities seltrction and applicationof ap priate
licCol1iltitig polipies maklllldliclgmelltSand eslljjjjjies that lite reasonable and prudent and
inipJementatiollalldmaJfiteiiillllte of adequate iUitemat financial controls that were 0 rating
Ilffeetively Cpr etlsudl1g Ibe 1IcentiUrllc)andeohlliletcentJl4SS0flheaecollrtting records releianl to the
prepatatiQn andll~IlS~htaiion (jfith~ fllraltltlillshttltiltttellts tllil give a true and fair view and re free
lhm material mis$llllemMtWhet1ietlilue to ftal1dof error
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2 ~sam3rililn26laribloIiU ()(jjQnyR~lraquoCQuJl~llfllI~ Vadll(illramiddot ~9b 015 T~I(02S~233 7Q64~ll(0265)235 43a6 Em~ltsha~sanghVigmallto~
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We ltalle tlIk~ll mi~l~oll)lJ t1)~ prmSlolJ$ of the Act theaccO1tlJg and alltIrllig itlll atdS and
mattlilll which atll t~glJclred tQ he llIcentlude4111 the audit repOtt unq~rtlllaquo pl1OVfsJrmil Qifthe A ~d the
iRIlesttiade t1terellnle
WIiCQndliltei1 our allQlt 1ft accordlAt61fwilh tllil StandardS oil Audili)g spified tind Seettoll
143(1P)ofthe Ail tkoseStalldarcis requtte that wecQJiply Iilitli etl1ai retWlelllenls Mil Ian and
yewIll) the 311dMlgtbotain rflsotiable assItiilJCe aboutWllether the flijaliQlitl slateriielfs ate eeftom
materia ntisstatement e
$gtnl1udft ilVpVesperfotnUlg procedures to olliitll auditevlltllllgt abqql the arnounts d tire
d$i1rsilfes fn tlle financial statemenls the proeedlregssliteolelti ltipetld en the atldltrsgtjllmiddot gment
InlllUdllil tfie assesstrtent 0ftlerhilis6tmllte~i~J n11sslaemefit ()f~lre Jjnailcentlal stMeilJeills wh Iit due
10 ftllld ct error lnlllliking thlilslHisk as~ssments the alldltQt eOllliders Mem filiuleiel eonlt61
tltilevent tltJ the COlllp1iIlYs prep~li(jti off the j1lfancialstateil~ts that give a true llnd 1itirl~W ill
middotbtder to ilesl~ audit J)l9Cilldlreslllet are apj1tQptillJe in tl)eliteumslltm~cent$ An llltlit ais) I centludes
epoundauating 111 epprl)prill~lJessl)f tl aileOlllllillg ~i1ieh~s llsed andtbe teasonllblel1eSS of tbgt
acentllouulltgestimates mlldll 1Iy the 00rlpanys DlreeI6tll lIS weI as eYcaltiaU1lamp theDvetlltl pres ntaliQfi
centfthe f)naneia1 stlltem1ll1ts
We blljlI tlrattheallPit evldel1l~e we have obtained Is upoundfotellatrcl~lPtopriateto lltlddegt~$lii
lPt our8lliiJ6plnlQnon the filJancentj~1 statements
OpUiton
Ihour opinllli iuld to tlte Mst ofoar ltifo11i~tim~lrdaooord1fgtli tile 1l~tlilnatiDus~iYelilQs tb~
atoresalil fiIianelalstatemefttsgivl the jllfoJ1natioutfequJred bydill All lnthlii manuel soreqwr d llill
~be a trueamf fa~ 1lew incon(~fml~lt~lth the llcentcountmgprinclples SIl11erany accepted in In il wi ihestlttliimiddotofaffults pfthe CbJnailyasal 311031~011i llrtdit1P1fitanJil$ ltash floWs for th leyen endedOlltlilJt date
J fISttAII
2~$MlarilMmiddot~~GH~rlbhaklcaQny RlIee COUrs~IlIGle a~Qda1Aa~ilo15
M em lLBFCJI
Thh(~265Y 233 7064middot Fax(Q2l5)23Smiddot43SI middotEll1allsllijh$llllllIWilmailoom
RepQrl 011 Othel Legal al1iJ iQ~gullltOly Requilemlnts
A~te~lted ~y thCompanles (AlmtlgttS ReIQrt) Qrder20l6etbe Otller) i~sued by the e1)trllil
OOVall1p)lllX pnldi~ ilj terms of sub SeltiPll (ll) of seetion 14a ot the Cp1lJlIallles Aet203 We
ghe inthe Anne~)JJeA slatements on tie mattets sp~ifiet1 ill plltllgrJ1hs 3111Q41fthe ordat to the bull
elitwttOlpplica01e
Asreqllted by$eettoll 143 (10) OllheAet Ye repQt that
(Wi We traye SQuglltand ubtaUrad jllIthe JllfQtnatMaud exph1naPllS which to thebullbestlofoW
mowedlteallIPheiefweteneceSSllry furthe putpi1sesmiddotOfour audit _
or) III ourOpilliouprel1eJ booksofaecoJlJlt asrequlredby lawhJlebeell keptbytileCom
filrJ$ iblp~at$tioD DUt exarnciMtiun ltfthbScent backs
(il nne JllU1lt1e Sheetihe SratementmiddotofJlNi andLoss and the eash ~OW$tlyentllnlentde
hythls iRelpttate inllgj7oornelJt wlthihe books afMcoUnt
(liI) moM ppllflibJi tile aftI~sall lilttaficfal Stiitliments nottilJy with the Aecounjil~ S dltdl- ~plcentifled nttdet S1Ction 133 ofthe Act ~l)d with Ru1e 1ofheCQUjianies (kccouut~) fIlls
zrJil4
(e) Ont1w~isef the Wfiltetrepresentations te~cent(wdftpm the dtrectors as Oil ~tl()lllZ(llli taken
6il tecotd ibythe 13Qllfd ofJiteclofs noneof tim dllfeCtlrl is rIftSC(llaJtfed as plO~hll) from
heilJgappointedas J ditelltot III terlilllofSeciion 1MCZ)oftlieAct
(fj the cPtllpany hasatJ~~l)fe itteilil~iiiiiMcihjoontrllrs systemilJ p1liCeamther~ s J)l
operatingeffiletivene~idt1i~ncb llci~rtlol~ Atep6rigiviJB~F Icent$Pti1sibltlties lind llpinlQ blls _ - Igt
bilillt ailllexedltetewlth
fllf lWt1i~r~J1ltot to middotthe utllet matters to b~ mrtludeli inthe Auditrs Replll ill aCcQtdllnce with
l1llliN 1iNheCotnpanies(A~dit lIl1d AuntQ~) Rules 2bJ 4 inOUl opinion ana tllltl stof
l1IurtnfOlltlllliM lIhdaCcotdingio the oxplanatiQJls given to15
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2~amarpilrj~6 Harj~~~~ CoIQny RaC1icr~urse Circle Vadodaramiddot 300 015 rel(P6S) ~~31OM f~(02Qamp)235 416$ ~ail shalijillllllvfgil8iIiCOm
10 The Companyhas alSclo~eil tire hqpad of penaiqg litigatlGos OR Itsflnanelalpositk n ill itsfincialslatCi1ielts
JiIM Clnrp~)lYllas mlldeprllVisll)lltefllkediindeF tbellPpjjqlltllll llI-W Q1 llOOOn tiPg s~ll1dlllds teurolt material foreseeable lasses If any on longcentermcootracls lnclu ing dilvtluve e6lltrtlcentts
iiL The~e has beeIoodellly ill ttamp11sferrlttgltIoQllts 1elulredW be ttallsfeueltl td riiYest~r Edullatliln arrd IllilckmFllldbythe Company
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ANNEXURE TO Tm INallt)PENJ)ENT AUDJ[ON~S REPORT OF E~N frATE ON T1tEPiNANC1AL Si1AJIEMENT OJ CQIlAL LABORATORIES LrDAS ON 31st MARCIUtJ16
klll0rtontheinteJinliLflnllinllflrl coofttolsnntbllclause(j ofsob ~Icenttlon3middotr
Selltlllll14SorflrceompanicllAcentt2013 (IUe Act)
fo ihe mllmhers oicQr1 hJlgtorlltories Ltd Wiellaeauditedthe tnternll 1JUlI1Qial cQ1trGlsoVltlr fl1lllt~illil repCireil1g0f SIrtlle bra aho_orills Ltd (IeC()l)lPll11Y)as of Mith 3J2~ltJ itt il0~llJ1etitl1fwith onf aUdit 0middot the stanillilonefl]jaoc~lllstlltemtlntQflheCompaJY foJfttte Jllar endedontlWi date
MilllliJlllmelts resPQDsildUty pound01 internal financiaconltrols TheG()nlpanis Managemllnt is responsible fQr estahishlngmiddotand maintaining infernal fi cial COOtl018 based 911 the ~l1tll~ltar CQl1tfetI over tltll~ncent1a1 te~Ql1iitig ctiteril established by the centomp~yenc(m~qeringtbl ~ss(1)tillmiddotc)mPQitents of iotefllltl contl~Ql Stated intlte iJuidaftce middotote on Audit of Internal i1il1Ji1Jlll Cpl1trolsmiddot Oyer Financial RepJfilng issued hy the lwtitut Of Chartered ~CCOUl1tJil1sOfln~Ha Thllse responsihillties include the aesigj itliplernet1tatiooand maintenance Qfldegu~tll illteliDlIl tinancillleontrol~ that were Ii1perafing effilctivtll) poundor ens ring lh~ mdlir~y amJ e$(llilentean1gcfoflts business includlngadherettce to 1iIle C(it11pam~s polies th~$ilfegijarltt~gQfits a~~tslhePreventiQl)and ihttTllltion oJftaudand errors theatollr and GomplltWs$ Iilf tlte accounting records aliittimelyprepamtion oftellllble nf1andial informa on ll r~llllt~tl lIltl~r The Oornpanies Act2913
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OUtt~pQMI])i1I~~ is to express-an opinion 01) the JQIJiI1mys tnternaltinancilt ellfittQI~ Iiet financllil tcentlloltillg based-on ()l1rjl~lt We condl~ed olltalllit in accordance with tire Gnld ee Noteon Audit of1lntemalllnllnllttlcentonttoJ~ Over FiMncial RePiltiing (nthll Ollidimell 11 tel) and the Standlttrds 01) Audltingls sp(cifiedurrder section tfpGaQ~of Campanili A~ ZOl ttl the el(tentapp1icable lOan 1I1141t lfl1tetnaI tinancial contrllls hothiapp1icahttl to anaudit of t~(lTIaJFinanciaICmttols G-poth Issued by theIllstftote (lfGhlllftetedaceoulttants of dia thoswStlDdar~s 1ll14 6t11qlIDee bil~te require that we cornjiiy wUll ethielil tequiremens and Ian Mdpetlftrm the audit tJJ obt~in r~llSPlnbleassutanee middotabolltihefFtet adequate itttetnal flnlleial co(lttols 1yenerlnajlcialtePotiingwlliScentsJIj))lfsAeGland ntail1tllined 1I11cli Ifsuch controlsape ated middoteffectlvelY in all material respects
bull
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2~$lIfl1atllllh 21lJitalibhaktMjiJlo~ lilacs CdUi1Iflltliltle Vadodaramiddot 390015 rr(oZ6s1l337Q6t middotF(0265) 235 4388E~it shahlllllghvllillgma)1lXll)l
Durandft l1Vollrlls perlbtltting procedures to obtliln alildit evidcentnee abaJlJ tbe acleqpllCY f the I itiUltnal firtaMlill eorlttols systemover fin~noialreJlottlgnl Ilifir ape~qtingetfeQtlvllrjegt bull Our IIIUt of ititerl1idfJfI~~laJ controls overflnanclalepol(ipg iPgl~ed QPtainlng an un(lluSt nding of lltetnli flltllclltl 0001t61 crVllt fiMiclalreponingilssesslng the llsl fuafil mater]we less I exists and testlll~ and evaluatln~ the design and Qperllting effeclveness ofimernlgonirol hasell I
filn the assessed risk Ihe procedures selected dllpenlt em ~eaudi~ts J1Icgtnent iMlqillg the 1 tassessmentofthe risks otmaterMmisstat~bJ~nt oftlteltnregelal$at(lfllenIS WletJ1~rd1letl fiadd [
ererrors I Ii
r IWe helieve that iheatldit eyjrlencewe have Qbtaineil issuff1cientan~jj~grl1ptiate to prli idfla
basisrOT OUT audit opinion on till )I)teQlJl fhllmda gont~ols systemllVeTtlnaneial feporling
MeanlJlgofinternl IanelillCQltr01QyerUl1llJlliat rlpllrting
A cOfupanYs lltel1l1al gullnollli lt)l1tQloyer ltmUcialreportlng isaprocess designed til pr vid reasonableessuranee regardlng the relilibJHty of fluanel] repottng and the preparati It M finanelal sratllllli)mts formiddot~tlrnal p~rposes Inllcllordanee wlthgenellllly llcentcentepted aeeou tlll8 pdnclple) AcompallYs intllmatiinaneiaJ control overnnllnoilll rep0riihll inclUdes tliose po id~s mid ~Qcedures thllt (I peJtllhl to tile iUlll)teltMPe Qfrecouds that ill reasonable tail lccllrately and fair]y remet thetransll1ltions and 1iispOsi~ins of the assets of the company] (2) pO~tde reasonable assuranee thattransaptions arereeetded llsneeeSsaxy to pei1tilit preparllti n of fiallllcentlalc statement in lIiCetltdlnce With gellera115aecepted acootlJitingprineipIes and tltat re~Pts ltutA eXlllndltnres ofthe company arebeingmMeoily ifiaecordaRee with eutheriza lOt$ ofmMagemetrt and directors iJFthe eomgtlllyand (3~ providereaslilnahle assnrance rllla liP$ p(llveltdon 0rtimely detectlQrtof unauthorleedacqulsitionuse oedlspositlon of tbe CQltlp nys assenrthal eouldhave ltiltatllriaeffebton thefihailltlialSlatemenls
Because of the Inherent litnitalion of internal filmnci alIlQIWrols over finan(lt rltpoct1g inolllaittll lJIe possibilitY at collusion or ~mpropet lUanag~1lwrioyenel1ViltteQf cllntrltilil mat rilll mlsstatement$dge tll IJTOforfrlludmayoccuraniltr()1 bed~teQjtelJ AIsli11 projections pi any evailuatioI) of the intemaltrtln9i~rcol~olsYOllr1tllancMrep0rdngtofilttlr~ period are subJe t til the risk Pqlt the lntemllF flnMiiaIQQt1tt61nVerfiflalloiaF repotlfng may become lnade-ate l1eellllseof chaflges lnQQilcrlflqnS~ or Hit tile degJee of co1tlitianClgt with (he poltcie or prQQurcentsmalideteri0tale
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2imiddot~tpln- 26 HMbMkfjCoIQlYjRilceQ()~ClIciQ VadQdara- 390 015 fel1(O~651 ts~ 7064 F~(1126~)235 4356- E(tIll1l shlih$lll1llhvlgmaiillQm
ItlotlXQpittiell tbeC(itlf~aoy has ili~Lrnraterial respeetsen adiJqual1l internal financlllloQt1 ~ystetnltlYer fihattclllL riepo~llgandSUllltnte~111Jl fll1ancial cDntroSoftll UnatlClalre~ottlnll operlltinlplffutlvely- asmiddotlitMargb 312016 based ontheInternal conlJtdl overll11aileililrtpe jr i1titcrlilllsliWlisled IPY tpeCpmpllllY considerlng the esSehtialcompilmnts oflfittmalconttol stated ill theGUidanceNpteQll A~ldlt l)flntemaIFmanoiliIContrQIs Ovw IFIllanelal Bilil1ortin issued h)itbl Tnstitute QfQllatterelif Accountants OfIhdia
Fo~ urd on pehalf of SBAll SANtillV AND COMPANyen ClIAJIXpoundRED ACCOUNTiNTS leAl RlJGNO 0109794W
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(ltW~tlii1l tl1 inabOYllttlte 1lu(jitQrSi repenofeven dateto tbe J)lcentrtrberso CORAL LAJ30RAOmES LJMl1EDoillne fJlancentjlll$tiitetnllnt~ 10theyear ended 3102016)
1 (Ili)TlIeiZOmpEllJY hallmaintairted PrQper records showilrg ttIl patliieulllsihelual Iii qllllti~lie lt1eWrsand $ltu~tmnQfFhled Assets
(b1 1lllt~ml~ets hll5ic b~nphysi~aIIverified by thel11anllgelilent at teasnnilil intervals No mllte1lll1dJScentrcIlllti9ies werenmmed onSlich verlfiGlftion
(Q~ Inourqpilliouaml apcoclIhgtotlte ufol1matian andexplanationgiven to us th titled~ds of immovable properties are held in the nameofthecomp41lY
ii Plilystcalvtlilneatiol1 ofInventoryhas beeneondqcjedat reasoMbe ntetliaI by managcentli~lit i
ilhdno D)llrerMldisetepllnPw WrenotilleaOI1swelvcdficatlon
m kltpcptding tothe illf01Qlatkm and exptAAatilln given to IIgt theltompltlyen hM 11llgtlltltel ~y
lolllS secured or lnSee1lfed to ~llml1anleS flttfisUmited liahilitY IJ_erlll1ipsootnlf ~arties covered lre~lsternlaltttlaquoineil ~s 189 afthemiddotAct I rti view qf the ilhcfVe prqvlsiQls of clause 3 (iii) (1t)GD) and 0) are tOt llPpJeable to the IcollJlany I
iiV Inlllllotiblbn EIlJd lcent(Ij)tlmg to tnfprtrfatiPltliftd eXlfl1l8U0l1sglVeii tqJ~fbelll pany lJilll in
respeot ot IIlllaS flJltes1ltiilentsgualantees and secUfty prolvlsI0lils l)Qmpliedwith s tlQraquo 1783 and sectlonl116 oil1he Cllrnpanics Act El013
v J1lording totliliWfol1l1~tiQlJandexplanatiangiVeinp ulI the CltWIpany htls not eeepterl IlnY
III QepQsitsIIencethe jprcvlsioilsofclause S(II lUe notappllcableto the company
Wi hlloyenelioAdly tevleyltlithcent bollkSlgtpound acentcentPllllts maintained py hilc0mpanyp ampiJool to the j rule~ made by theCenmlaquoi J3QVllmment of India Themaintenance ofcost reco (Is has beep II ptelicdveduls t411(j) of l~e Act anq We lUeof the qpim1l) that primaflcil tIt 1ll1eseribed
alllloUlilts llItllreeords navcentbeen made anilihaintafneQ Wemiddot middothavetrot hOWllYer eadlltaiecl eliiUiflfilltionQftherecords Withayenlew t1deiennllleWllitthlj they are ilCCllratetit co pllt~
ViL (lJ) AeeQOOing to the OQoyenstlid Je~otds ~produeed aildegtltlU1linedby Usin l1ord41loe With ~lIetmlyen~llted AudltfrlgPta411ceslnJndi1J lihd ilsQmanagemeht representation unQis)Iuwd statiltQqdu~s intespe~ of lrovfdentlbnd lemwloyees Sfatelnsmilnce lneltgttne t SilWs tax Se~leela)(CUjtotfi d~~ ~xillseifaJY Vii1tlekiaed fax CeSSllnd ltlth materialsl qtoty dues ilppliealiiletaithas beelilXegularly depositeClwithaiproptiate authorities
--------------------- -__--------~_I
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2middotSamarpltlnmiddot~aililad~~lIli Colony RllceCou~ ClrclQVadodarimiddot390Qt5 Tel(Q26S)2iMOalt Faxi(O~e5)23S~B6 middotErniJil Shahsar9hVigmailrom
~tl AccQrlingto the records of the company the disputed dues in respectofexc] e dutyof Rs ~8$i ls ~re~i())illi YeartslS561acs)setvicetax Rs nil (preYousyeal Rsnit) and sales tax Rsml ~rIlV1U~ ~emiddotat RJgti lil) income tax as nilprevions year Rs nil ) as at TIiar h 3 I 2016 hallenlll heen deposited WiiiliL appropriate authorities ilrtcl no prevision has been made for the same
St Nmueof fue Name of Amount Peded to which the FomID where 11(jmiddot istatllteJJlleSmiddot ~Si in ameunt relates dispute is pellding
Lacs) OfJ)he centrl1 tIQi~c IS56 2(Olmiddot032003middotQ4 Ik SUptCU1e centbm
ElIcentise~ct t944 tgtuti 200405 iMewDIl11 I _
]houtQPinioll and acoofilittg to theinformatlon andellplanatigifgJYcn tous anlil tbllljoolt$of acebunts Verified by us the company has not4et1lllt~ in liepa~tllnt of dll t~ tIJfanciil1 instit1ltQnbarik((joVCll11llllnf 01 dues to tebenwe hold~
is llet iufilrrnaijlJugivln to usno 1111IneywaSnilsedibY way 0-pound initiaipubfieoller orfurther i J1ll1ilfcentofe~ (in~Iuclingdebt lnstfuments) No term loaasarelfliseobiy thecompafiy duxillfl the
-1 year
amp Durittgtlie ceurse ofour ~xarniWltlonQtbotisiofacCOJIDt~olnrled in acentcentordte with tb~ Olltetaly Aqcepted Al1diting Standards 1m IJldi~ wehll~e nllther (jl1me lI(rossmiddot InstlWice lf fraud on er h~ the oompany either noticed er repotied dmng the year nor 11 ~iVewe been Il1formed ofampuch lease-by themanagemetit
xi Acent~9r4ng to int9rrntttlOn and elltpIanatlon g1VIltto U$ and ltbcent books ilpound acoilitts ~~finlamp b~middotI1lS the mnnagerlllfrettlJIDeratlonhl becn pard pr pr()~idel incompliance With SeetiQn97 readwith Schedute Vto theCompanies Act 2019
Thecompany is nota Nidhi company hence th~ prQli~~OIli cr$ lJaUl111 3(xli)aIlnQt alJPiil)aamplil to the Cqmpany
xiii All transactians with Jh~ related PaJtties ate incol[fp-liancj wi~h seetion t77 and 1880pound -Companies Act 2013WIJcenttcent appIii1ajfe and the details haYe been disclosed 11 he 1fillcillii Statements etc as required hytheapplicableaceountingstoodards
x~v According to infermation-and explanatlon given tlJ Wland the lJQdks ofaccounts j etified by us the company dutifigtheW~lthaSlilJtlllade an preietefitill1 liflbt1tlent orprivate plementqf shares or fully or partIlbdiverti1ile debentures ieJ1l tl1lprovicention Qfclavse $ xht) are tot apptlCllheto companies
xv According to inforrnati0lande~Illanationgiven tous and the bQoksofaOcliUbts elffied by us the rompany has not epteted into any noncashtrensacticn withditelt0rs ot perijl) seomrcct64 Iwithit I
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FOR $hilr$llughviampCo (Clill~ered AeeQUUital1ts) ~~g No~r09794W
JISHAlt (IttlprietoF) Menihel1~)dJI NQ Q3461O
The ltompatly is Wilt req)1ired to be regl~tered 1Jniiletseetlo 4SrAllfthe Re~elVe
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2SilmaJp~n261Han~~aWCltllpJlYi Rate CQU(l~middotCJtol~ VadilQariilt lMOifr ra((l2aSY2~a711l~iFiX(0265)2j5 4~lliJ Emiddotmailmiddot~bahsa1ghlii9lgm~i1com
r~~ llllpres~I~~gin ~lPfIMQli With the telllitemems 6fRegulati6fi 93 oithe SEBI ~lstingmiddot Obu~lifions anllLfiseloSUieRelrements) Regulations 2Ol5 in this~gatdllOd
(i~ ~veatIUeand faih1ewof thenetprP~tllOSS and other fulllwialmiddoti~rIlatioll illt the ~aplusmntet
ejtded 31~j)g016 astelJas the yQar to date reslIlw forihQ penoO from It2015fo3l0320lii i
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TO
THEMEMBERS dFCORALLAtJORA]dRlJJiS UM11ltfi
W~l1allt( aU1itildtall aCQgllpanying flilllJlthil sllllel111fits cOt C~LLAnOltAtQ~ESL all)
(tblCOrnlt~Y) Wlllt c(gtrnlprise the ~nlillWe Sheet lIsat3MQ31Z11t6 llie StalemeJilt egtpound JiltiJ Jlifid
ILGss t1leccash flow stlitementior the year then ended and a SJlmmlltyQf thee $lglliollt acentcentillptmg
poJlo10B dollier exphmaloryinrormation
MamtgemeJifs ResponsIbility for the Fi1ancialStiltel11enis
1Jhe CQinplIIlws Soatd 61 tlitel1tots is responsible for tire matters stated inSeailoli1i l34(5) at tire
tompllllllS Aot ti)l~ (the Act)wlth respect to tbepreparation oftlese finallClaistateme tstbat
Vjj a blo altd ilfltfr lew of tbll llnattcililpostibil and tiMrtal perfolmanlt(l fthe elf) any ll
1l(j(jQljIiti1l1l1 ~i~b tbcent ail~liiltirnt llfjjj(jiifJb~ gliJlrlll~ lIecellled irt IUdlalnciliiIlliigtlt ~centpliillliW
Standlllds sPecifrcentQ U1dQr Sle~u 133 IiIf tbe Aet rellO Witll RiuJe l or Ine Qcentmjllltries fAcelIrtts) Ruies20M l1hs responalbifloalso lnciudes rollintenlll~l1If lIdqUl)te I1Gcouutillg fllcentritsin
aecordance with theprovislous of theAot or safeguarding of the assets of the Company nd for preventing auddeteetlng frauds lind other irrloguJalities seltrction and applicationof ap priate
licCol1iltitig polipies maklllldliclgmelltSand eslljjjjjies that lite reasonable and prudent and
inipJementatiollalldmaJfiteiiillllte of adequate iUitemat financial controls that were 0 rating
Ilffeetively Cpr etlsudl1g Ibe 1IcentiUrllc)andeohlliletcentJl4SS0flheaecollrtting records releianl to the
prepatatiQn andll~IlS~htaiion (jfith~ fllraltltlillshttltiltttellts tllil give a true and fair view and re free
lhm material mis$llllemMtWhet1ietlilue to ftal1dof error
w
~ JPSHAHrA bull bull bull 0 imiddotElihmiddotmiddotbull5amiddotmiddotnghflilmiddot amp 0bVlaquo (lt101 LL8fCAmiddotmiddoti bull c eH~RT~~et)AOODtlNTANTS
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2 ~sam3rililn26laribloIiU ()(jjQnyR~lraquoCQuJl~llfllI~ Vadll(illramiddot ~9b 015 T~I(02S~233 7Q64~ll(0265)235 43a6 Em~ltsha~sanghVigmallto~
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We ltalle tlIk~ll mi~l~oll)lJ t1)~ prmSlolJ$ of the Act theaccO1tlJg and alltIrllig itlll atdS and
mattlilll which atll t~glJclred tQ he llIcentlude4111 the audit repOtt unq~rtlllaquo pl1OVfsJrmil Qifthe A ~d the
iRIlesttiade t1terellnle
WIiCQndliltei1 our allQlt 1ft accordlAt61fwilh tllil StandardS oil Audili)g spified tind Seettoll
143(1P)ofthe Ail tkoseStalldarcis requtte that wecQJiply Iilitli etl1ai retWlelllenls Mil Ian and
yewIll) the 311dMlgtbotain rflsotiable assItiilJCe aboutWllether the flijaliQlitl slateriielfs ate eeftom
materia ntisstatement e
$gtnl1udft ilVpVesperfotnUlg procedures to olliitll auditevlltllllgt abqql the arnounts d tire
d$i1rsilfes fn tlle financial statemenls the proeedlregssliteolelti ltipetld en the atldltrsgtjllmiddot gment
InlllUdllil tfie assesstrtent 0ftlerhilis6tmllte~i~J n11sslaemefit ()f~lre Jjnailcentlal stMeilJeills wh Iit due
10 ftllld ct error lnlllliking thlilslHisk as~ssments the alldltQt eOllliders Mem filiuleiel eonlt61
tltilevent tltJ the COlllp1iIlYs prep~li(jti off the j1lfancialstateil~ts that give a true llnd 1itirl~W ill
middotbtder to ilesl~ audit J)l9Cilldlreslllet are apj1tQptillJe in tl)eliteumslltm~cent$ An llltlit ais) I centludes
epoundauating 111 epprl)prill~lJessl)f tl aileOlllllillg ~i1ieh~s llsed andtbe teasonllblel1eSS of tbgt
acentllouulltgestimates mlldll 1Iy the 00rlpanys DlreeI6tll lIS weI as eYcaltiaU1lamp theDvetlltl pres ntaliQfi
centfthe f)naneia1 stlltem1ll1ts
We blljlI tlrattheallPit evldel1l~e we have obtained Is upoundfotellatrcl~lPtopriateto lltlddegt~$lii
lPt our8lliiJ6plnlQnon the filJancentj~1 statements
OpUiton
Ihour opinllli iuld to tlte Mst ofoar ltifo11i~tim~lrdaooord1fgtli tile 1l~tlilnatiDus~iYelilQs tb~
atoresalil fiIianelalstatemefttsgivl the jllfoJ1natioutfequJred bydill All lnthlii manuel soreqwr d llill
~be a trueamf fa~ 1lew incon(~fml~lt~lth the llcentcountmgprinclples SIl11erany accepted in In il wi ihestlttliimiddotofaffults pfthe CbJnailyasal 311031~011i llrtdit1P1fitanJil$ ltash floWs for th leyen endedOlltlilJt date
J fISttAII
2~$MlarilMmiddot~~GH~rlbhaklcaQny RlIee COUrs~IlIGle a~Qda1Aa~ilo15
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Thh(~265Y 233 7064middot Fax(Q2l5)23Smiddot43SI middotEll1allsllijh$llllllIWilmailoom
RepQrl 011 Othel Legal al1iJ iQ~gullltOly Requilemlnts
A~te~lted ~y thCompanles (AlmtlgttS ReIQrt) Qrder20l6etbe Otller) i~sued by the e1)trllil
OOVall1p)lllX pnldi~ ilj terms of sub SeltiPll (ll) of seetion 14a ot the Cp1lJlIallles Aet203 We
ghe inthe Anne~)JJeA slatements on tie mattets sp~ifiet1 ill plltllgrJ1hs 3111Q41fthe ordat to the bull
elitwttOlpplica01e
Asreqllted by$eettoll 143 (10) OllheAet Ye repQt that
(Wi We traye SQuglltand ubtaUrad jllIthe JllfQtnatMaud exph1naPllS which to thebullbestlofoW
mowedlteallIPheiefweteneceSSllry furthe putpi1sesmiddotOfour audit _
or) III ourOpilliouprel1eJ booksofaecoJlJlt asrequlredby lawhJlebeell keptbytileCom
filrJ$ iblp~at$tioD DUt exarnciMtiun ltfthbScent backs
(il nne JllU1lt1e Sheetihe SratementmiddotofJlNi andLoss and the eash ~OW$tlyentllnlentde
hythls iRelpttate inllgj7oornelJt wlthihe books afMcoUnt
(liI) moM ppllflibJi tile aftI~sall lilttaficfal Stiitliments nottilJy with the Aecounjil~ S dltdl- ~plcentifled nttdet S1Ction 133 ofthe Act ~l)d with Ru1e 1ofheCQUjianies (kccouut~) fIlls
zrJil4
(e) Ont1w~isef the Wfiltetrepresentations te~cent(wdftpm the dtrectors as Oil ~tl()lllZ(llli taken
6il tecotd ibythe 13Qllfd ofJiteclofs noneof tim dllfeCtlrl is rIftSC(llaJtfed as plO~hll) from
heilJgappointedas J ditelltot III terlilllofSeciion 1MCZ)oftlieAct
(fj the cPtllpany hasatJ~~l)fe itteilil~iiiiiMcihjoontrllrs systemilJ p1liCeamther~ s J)l
operatingeffiletivene~idt1i~ncb llci~rtlol~ Atep6rigiviJB~F Icent$Pti1sibltlties lind llpinlQ blls _ - Igt
bilillt ailllexedltetewlth
fllf lWt1i~r~J1ltot to middotthe utllet matters to b~ mrtludeli inthe Auditrs Replll ill aCcQtdllnce with
l1llliN 1iNheCotnpanies(A~dit lIl1d AuntQ~) Rules 2bJ 4 inOUl opinion ana tllltl stof
l1IurtnfOlltlllliM lIhdaCcotdingio the oxplanatiQJls given to15
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2~amarpilrj~6 Harj~~~~ CoIQny RaC1icr~urse Circle Vadodaramiddot 300 015 rel(P6S) ~~31OM f~(02Qamp)235 416$ ~ail shalijillllllvfgil8iIiCOm
10 The Companyhas alSclo~eil tire hqpad of penaiqg litigatlGos OR Itsflnanelalpositk n ill itsfincialslatCi1ielts
JiIM Clnrp~)lYllas mlldeprllVisll)lltefllkediindeF tbellPpjjqlltllll llI-W Q1 llOOOn tiPg s~ll1dlllds teurolt material foreseeable lasses If any on longcentermcootracls lnclu ing dilvtluve e6lltrtlcentts
iiL The~e has beeIoodellly ill ttamp11sferrlttgltIoQllts 1elulredW be ttallsfeueltl td riiYest~r Edullatliln arrd IllilckmFllldbythe Company
the
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ANNEXURE TO Tm INallt)PENJ)ENT AUDJ[ON~S REPORT OF E~N frATE ON T1tEPiNANC1AL Si1AJIEMENT OJ CQIlAL LABORATORIES LrDAS ON 31st MARCIUtJ16
klll0rtontheinteJinliLflnllinllflrl coofttolsnntbllclause(j ofsob ~Icenttlon3middotr
Selltlllll14SorflrceompanicllAcentt2013 (IUe Act)
fo ihe mllmhers oicQr1 hJlgtorlltories Ltd Wiellaeauditedthe tnternll 1JUlI1Qial cQ1trGlsoVltlr fl1lllt~illil repCireil1g0f SIrtlle bra aho_orills Ltd (IeC()l)lPll11Y)as of Mith 3J2~ltJ itt il0~llJ1etitl1fwith onf aUdit 0middot the stanillilonefl]jaoc~lllstlltemtlntQflheCompaJY foJfttte Jllar endedontlWi date
MilllliJlllmelts resPQDsildUty pound01 internal financiaconltrols TheG()nlpanis Managemllnt is responsible fQr estahishlngmiddotand maintaining infernal fi cial COOtl018 based 911 the ~l1tll~ltar CQl1tfetI over tltll~ncent1a1 te~Ql1iitig ctiteril established by the centomp~yenc(m~qeringtbl ~ss(1)tillmiddotc)mPQitents of iotefllltl contl~Ql Stated intlte iJuidaftce middotote on Audit of Internal i1il1Ji1Jlll Cpl1trolsmiddot Oyer Financial RepJfilng issued hy the lwtitut Of Chartered ~CCOUl1tJil1sOfln~Ha Thllse responsihillties include the aesigj itliplernet1tatiooand maintenance Qfldegu~tll illteliDlIl tinancillleontrol~ that were Ii1perafing effilctivtll) poundor ens ring lh~ mdlir~y amJ e$(llilentean1gcfoflts business includlngadherettce to 1iIle C(it11pam~s polies th~$ilfegijarltt~gQfits a~~tslhePreventiQl)and ihttTllltion oJftaudand errors theatollr and GomplltWs$ Iilf tlte accounting records aliittimelyprepamtion oftellllble nf1andial informa on ll r~llllt~tl lIltl~r The Oornpanies Act2913
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OUtt~pQMI])i1I~~ is to express-an opinion 01) the JQIJiI1mys tnternaltinancilt ellfittQI~ Iiet financllil tcentlloltillg based-on ()l1rjl~lt We condl~ed olltalllit in accordance with tire Gnld ee Noteon Audit of1lntemalllnllnllttlcentonttoJ~ Over FiMncial RePiltiing (nthll Ollidimell 11 tel) and the Standlttrds 01) Audltingls sp(cifiedurrder section tfpGaQ~of Campanili A~ ZOl ttl the el(tentapp1icable lOan 1I1141t lfl1tetnaI tinancial contrllls hothiapp1icahttl to anaudit of t~(lTIaJFinanciaICmttols G-poth Issued by theIllstftote (lfGhlllftetedaceoulttants of dia thoswStlDdar~s 1ll14 6t11qlIDee bil~te require that we cornjiiy wUll ethielil tequiremens and Ian Mdpetlftrm the audit tJJ obt~in r~llSPlnbleassutanee middotabolltihefFtet adequate itttetnal flnlleial co(lttols 1yenerlnajlcialtePotiingwlliScentsJIj))lfsAeGland ntail1tllined 1I11cli Ifsuch controlsape ated middoteffectlvelY in all material respects
bull
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2~$lIfl1atllllh 21lJitalibhaktMjiJlo~ lilacs CdUi1Iflltliltle Vadodaramiddot 390015 rr(oZ6s1l337Q6t middotF(0265) 235 4388E~it shahlllllghvllillgma)1lXll)l
Durandft l1Vollrlls perlbtltting procedures to obtliln alildit evidcentnee abaJlJ tbe acleqpllCY f the I itiUltnal firtaMlill eorlttols systemover fin~noialreJlottlgnl Ilifir ape~qtingetfeQtlvllrjegt bull Our IIIUt of ititerl1idfJfI~~laJ controls overflnanclalepol(ipg iPgl~ed QPtainlng an un(lluSt nding of lltetnli flltllclltl 0001t61 crVllt fiMiclalreponingilssesslng the llsl fuafil mater]we less I exists and testlll~ and evaluatln~ the design and Qperllting effeclveness ofimernlgonirol hasell I
filn the assessed risk Ihe procedures selected dllpenlt em ~eaudi~ts J1Icgtnent iMlqillg the 1 tassessmentofthe risks otmaterMmisstat~bJ~nt oftlteltnregelal$at(lfllenIS WletJ1~rd1letl fiadd [
ererrors I Ii
r IWe helieve that iheatldit eyjrlencewe have Qbtaineil issuff1cientan~jj~grl1ptiate to prli idfla
basisrOT OUT audit opinion on till )I)teQlJl fhllmda gont~ols systemllVeTtlnaneial feporling
MeanlJlgofinternl IanelillCQltr01QyerUl1llJlliat rlpllrting
A cOfupanYs lltel1l1al gullnollli lt)l1tQloyer ltmUcialreportlng isaprocess designed til pr vid reasonableessuranee regardlng the relilibJHty of fluanel] repottng and the preparati It M finanelal sratllllli)mts formiddot~tlrnal p~rposes Inllcllordanee wlthgenellllly llcentcentepted aeeou tlll8 pdnclple) AcompallYs intllmatiinaneiaJ control overnnllnoilll rep0riihll inclUdes tliose po id~s mid ~Qcedures thllt (I peJtllhl to tile iUlll)teltMPe Qfrecouds that ill reasonable tail lccllrately and fair]y remet thetransll1ltions and 1iispOsi~ins of the assets of the company] (2) pO~tde reasonable assuranee thattransaptions arereeetded llsneeeSsaxy to pei1tilit preparllti n of fiallllcentlalc statement in lIiCetltdlnce With gellera115aecepted acootlJitingprineipIes and tltat re~Pts ltutA eXlllndltnres ofthe company arebeingmMeoily ifiaecordaRee with eutheriza lOt$ ofmMagemetrt and directors iJFthe eomgtlllyand (3~ providereaslilnahle assnrance rllla liP$ p(llveltdon 0rtimely detectlQrtof unauthorleedacqulsitionuse oedlspositlon of tbe CQltlp nys assenrthal eouldhave ltiltatllriaeffebton thefihailltlialSlatemenls
Because of the Inherent litnitalion of internal filmnci alIlQIWrols over finan(lt rltpoct1g inolllaittll lJIe possibilitY at collusion or ~mpropet lUanag~1lwrioyenel1ViltteQf cllntrltilil mat rilll mlsstatement$dge tll IJTOforfrlludmayoccuraniltr()1 bed~teQjtelJ AIsli11 projections pi any evailuatioI) of the intemaltrtln9i~rcol~olsYOllr1tllancMrep0rdngtofilttlr~ period are subJe t til the risk Pqlt the lntemllF flnMiiaIQQt1tt61nVerfiflalloiaF repotlfng may become lnade-ate l1eellllseof chaflges lnQQilcrlflqnS~ or Hit tile degJee of co1tlitianClgt with (he poltcie or prQQurcentsmalideteri0tale
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ItlotlXQpittiell tbeC(itlf~aoy has ili~Lrnraterial respeetsen adiJqual1l internal financlllloQt1 ~ystetnltlYer fihattclllL riepo~llgandSUllltnte~111Jl fll1ancial cDntroSoftll UnatlClalre~ottlnll operlltinlplffutlvely- asmiddotlitMargb 312016 based ontheInternal conlJtdl overll11aileililrtpe jr i1titcrlilllsliWlisled IPY tpeCpmpllllY considerlng the esSehtialcompilmnts oflfittmalconttol stated ill theGUidanceNpteQll A~ldlt l)flntemaIFmanoiliIContrQIs Ovw IFIllanelal Bilil1ortin issued h)itbl Tnstitute QfQllatterelif Accountants OfIhdia
Fo~ urd on pehalf of SBAll SANtillV AND COMPANyen ClIAJIXpoundRED ACCOUNTiNTS leAl RlJGNO 0109794W
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(ltW~tlii1l tl1 inabOYllttlte 1lu(jitQrSi repenofeven dateto tbe J)lcentrtrberso CORAL LAJ30RAOmES LJMl1EDoillne fJlancentjlll$tiitetnllnt~ 10theyear ended 3102016)
1 (Ili)TlIeiZOmpEllJY hallmaintairted PrQper records showilrg ttIl patliieulllsihelual Iii qllllti~lie lt1eWrsand $ltu~tmnQfFhled Assets
(b1 1lllt~ml~ets hll5ic b~nphysi~aIIverified by thel11anllgelilent at teasnnilil intervals No mllte1lll1dJScentrcIlllti9ies werenmmed onSlich verlfiGlftion
(Q~ Inourqpilliouaml apcoclIhgtotlte ufol1matian andexplanationgiven to us th titled~ds of immovable properties are held in the nameofthecomp41lY
ii Plilystcalvtlilneatiol1 ofInventoryhas beeneondqcjedat reasoMbe ntetliaI by managcentli~lit i
ilhdno D)llrerMldisetepllnPw WrenotilleaOI1swelvcdficatlon
m kltpcptding tothe illf01Qlatkm and exptAAatilln given to IIgt theltompltlyen hM 11llgtlltltel ~y
lolllS secured or lnSee1lfed to ~llml1anleS flttfisUmited liahilitY IJ_erlll1ipsootnlf ~arties covered lre~lsternlaltttlaquoineil ~s 189 afthemiddotAct I rti view qf the ilhcfVe prqvlsiQls of clause 3 (iii) (1t)GD) and 0) are tOt llPpJeable to the IcollJlany I
iiV Inlllllotiblbn EIlJd lcent(Ij)tlmg to tnfprtrfatiPltliftd eXlfl1l8U0l1sglVeii tqJ~fbelll pany lJilll in
respeot ot IIlllaS flJltes1ltiilentsgualantees and secUfty prolvlsI0lils l)Qmpliedwith s tlQraquo 1783 and sectlonl116 oil1he Cllrnpanics Act El013
v J1lording totliliWfol1l1~tiQlJandexplanatiangiVeinp ulI the CltWIpany htls not eeepterl IlnY
III QepQsitsIIencethe jprcvlsioilsofclause S(II lUe notappllcableto the company
Wi hlloyenelioAdly tevleyltlithcent bollkSlgtpound acentcentPllllts maintained py hilc0mpanyp ampiJool to the j rule~ made by theCenmlaquoi J3QVllmment of India Themaintenance ofcost reco (Is has beep II ptelicdveduls t411(j) of l~e Act anq We lUeof the qpim1l) that primaflcil tIt 1ll1eseribed
alllloUlilts llItllreeords navcentbeen made anilihaintafneQ Wemiddot middothavetrot hOWllYer eadlltaiecl eliiUiflfilltionQftherecords Withayenlew t1deiennllleWllitthlj they are ilCCllratetit co pllt~
ViL (lJ) AeeQOOing to the OQoyenstlid Je~otds ~produeed aildegtltlU1linedby Usin l1ord41loe With ~lIetmlyen~llted AudltfrlgPta411ceslnJndi1J lihd ilsQmanagemeht representation unQis)Iuwd statiltQqdu~s intespe~ of lrovfdentlbnd lemwloyees Sfatelnsmilnce lneltgttne t SilWs tax Se~leela)(CUjtotfi d~~ ~xillseifaJY Vii1tlekiaed fax CeSSllnd ltlth materialsl qtoty dues ilppliealiiletaithas beelilXegularly depositeClwithaiproptiate authorities
--------------------- -__--------~_I
J PSHAH Me mLUtFcA
2middotSamarpltlnmiddot~aililad~~lIli Colony RllceCou~ ClrclQVadodarimiddot390Qt5 Tel(Q26S)2iMOalt Faxi(O~e5)23S~B6 middotErniJil Shahsar9hVigmailrom
~tl AccQrlingto the records of the company the disputed dues in respectofexc] e dutyof Rs ~8$i ls ~re~i())illi YeartslS561acs)setvicetax Rs nil (preYousyeal Rsnit) and sales tax Rsml ~rIlV1U~ ~emiddotat RJgti lil) income tax as nilprevions year Rs nil ) as at TIiar h 3 I 2016 hallenlll heen deposited WiiiliL appropriate authorities ilrtcl no prevision has been made for the same
St Nmueof fue Name of Amount Peded to which the FomID where 11(jmiddot istatllteJJlleSmiddot ~Si in ameunt relates dispute is pellding
Lacs) OfJ)he centrl1 tIQi~c IS56 2(Olmiddot032003middotQ4 Ik SUptCU1e centbm
ElIcentise~ct t944 tgtuti 200405 iMewDIl11 I _
]houtQPinioll and acoofilittg to theinformatlon andellplanatigifgJYcn tous anlil tbllljoolt$of acebunts Verified by us the company has not4et1lllt~ in liepa~tllnt of dll t~ tIJfanciil1 instit1ltQnbarik((joVCll11llllnf 01 dues to tebenwe hold~
is llet iufilrrnaijlJugivln to usno 1111IneywaSnilsedibY way 0-pound initiaipubfieoller orfurther i J1ll1ilfcentofe~ (in~Iuclingdebt lnstfuments) No term loaasarelfliseobiy thecompafiy duxillfl the
-1 year
amp Durittgtlie ceurse ofour ~xarniWltlonQtbotisiofacCOJIDt~olnrled in acentcentordte with tb~ Olltetaly Aqcepted Al1diting Standards 1m IJldi~ wehll~e nllther (jl1me lI(rossmiddot InstlWice lf fraud on er h~ the oompany either noticed er repotied dmng the year nor 11 ~iVewe been Il1formed ofampuch lease-by themanagemetit
xi Acent~9r4ng to int9rrntttlOn and elltpIanatlon g1VIltto U$ and ltbcent books ilpound acoilitts ~~finlamp b~middotI1lS the mnnagerlllfrettlJIDeratlonhl becn pard pr pr()~idel incompliance With SeetiQn97 readwith Schedute Vto theCompanies Act 2019
Thecompany is nota Nidhi company hence th~ prQli~~OIli cr$ lJaUl111 3(xli)aIlnQt alJPiil)aamplil to the Cqmpany
xiii All transactians with Jh~ related PaJtties ate incol[fp-liancj wi~h seetion t77 and 1880pound -Companies Act 2013WIJcenttcent appIii1ajfe and the details haYe been disclosed 11 he 1fillcillii Statements etc as required hytheapplicableaceountingstoodards
x~v According to infermation-and explanatlon given tlJ Wland the lJQdks ofaccounts j etified by us the company dutifigtheW~lthaSlilJtlllade an preietefitill1 liflbt1tlent orprivate plementqf shares or fully or partIlbdiverti1ile debentures ieJ1l tl1lprovicention Qfclavse $ xht) are tot apptlCllheto companies
xv According to inforrnati0lande~Illanationgiven tous and the bQoksofaOcliUbts elffied by us the rompany has not epteted into any noncashtrensacticn withditelt0rs ot perijl) seomrcct64 Iwithit I
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FOR $hilr$llughviampCo (Clill~ered AeeQUUital1ts) ~~g No~r09794W
JISHAlt (IttlprietoF) Menihel1~)dJI NQ Q3461O
The ltompatly is Wilt req)1ired to be regl~tered 1Jniiletseetlo 4SrAllfthe Re~elVe
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TO
THEMEMBERS dFCORALLAtJORA]dRlJJiS UM11ltfi
W~l1allt( aU1itildtall aCQgllpanying flilllJlthil sllllel111fits cOt C~LLAnOltAtQ~ESL all)
(tblCOrnlt~Y) Wlllt c(gtrnlprise the ~nlillWe Sheet lIsat3MQ31Z11t6 llie StalemeJilt egtpound JiltiJ Jlifid
ILGss t1leccash flow stlitementior the year then ended and a SJlmmlltyQf thee $lglliollt acentcentillptmg
poJlo10B dollier exphmaloryinrormation
MamtgemeJifs ResponsIbility for the Fi1ancialStiltel11enis
1Jhe CQinplIIlws Soatd 61 tlitel1tots is responsible for tire matters stated inSeailoli1i l34(5) at tire
tompllllllS Aot ti)l~ (the Act)wlth respect to tbepreparation oftlese finallClaistateme tstbat
Vjj a blo altd ilfltfr lew of tbll llnattcililpostibil and tiMrtal perfolmanlt(l fthe elf) any ll
1l(j(jQljIiti1l1l1 ~i~b tbcent ail~liiltirnt llfjjj(jiifJb~ gliJlrlll~ lIecellled irt IUdlalnciliiIlliigtlt ~centpliillliW
Standlllds sPecifrcentQ U1dQr Sle~u 133 IiIf tbe Aet rellO Witll RiuJe l or Ine Qcentmjllltries fAcelIrtts) Ruies20M l1hs responalbifloalso lnciudes rollintenlll~l1If lIdqUl)te I1Gcouutillg fllcentritsin
aecordance with theprovislous of theAot or safeguarding of the assets of the Company nd for preventing auddeteetlng frauds lind other irrloguJalities seltrction and applicationof ap priate
licCol1iltitig polipies maklllldliclgmelltSand eslljjjjjies that lite reasonable and prudent and
inipJementatiollalldmaJfiteiiillllte of adequate iUitemat financial controls that were 0 rating
Ilffeetively Cpr etlsudl1g Ibe 1IcentiUrllc)andeohlliletcentJl4SS0flheaecollrtting records releianl to the
prepatatiQn andll~IlS~htaiion (jfith~ fllraltltlillshttltiltttellts tllil give a true and fair view and re free
lhm material mis$llllemMtWhet1ietlilue to ftal1dof error
w
~ JPSHAHrA bull bull bull 0 imiddotElihmiddotmiddotbull5amiddotmiddotnghflilmiddot amp 0bVlaquo (lt101 LL8fCAmiddotmiddoti bull c eH~RT~~et)AOODtlNTANTS
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2 ~sam3rililn26laribloIiU ()(jjQnyR~lraquoCQuJl~llfllI~ Vadll(illramiddot ~9b 015 T~I(02S~233 7Q64~ll(0265)235 43a6 Em~ltsha~sanghVigmallto~
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We ltalle tlIk~ll mi~l~oll)lJ t1)~ prmSlolJ$ of the Act theaccO1tlJg and alltIrllig itlll atdS and
mattlilll which atll t~glJclred tQ he llIcentlude4111 the audit repOtt unq~rtlllaquo pl1OVfsJrmil Qifthe A ~d the
iRIlesttiade t1terellnle
WIiCQndliltei1 our allQlt 1ft accordlAt61fwilh tllil StandardS oil Audili)g spified tind Seettoll
143(1P)ofthe Ail tkoseStalldarcis requtte that wecQJiply Iilitli etl1ai retWlelllenls Mil Ian and
yewIll) the 311dMlgtbotain rflsotiable assItiilJCe aboutWllether the flijaliQlitl slateriielfs ate eeftom
materia ntisstatement e
$gtnl1udft ilVpVesperfotnUlg procedures to olliitll auditevlltllllgt abqql the arnounts d tire
d$i1rsilfes fn tlle financial statemenls the proeedlregssliteolelti ltipetld en the atldltrsgtjllmiddot gment
InlllUdllil tfie assesstrtent 0ftlerhilis6tmllte~i~J n11sslaemefit ()f~lre Jjnailcentlal stMeilJeills wh Iit due
10 ftllld ct error lnlllliking thlilslHisk as~ssments the alldltQt eOllliders Mem filiuleiel eonlt61
tltilevent tltJ the COlllp1iIlYs prep~li(jti off the j1lfancialstateil~ts that give a true llnd 1itirl~W ill
middotbtder to ilesl~ audit J)l9Cilldlreslllet are apj1tQptillJe in tl)eliteumslltm~cent$ An llltlit ais) I centludes
epoundauating 111 epprl)prill~lJessl)f tl aileOlllllillg ~i1ieh~s llsed andtbe teasonllblel1eSS of tbgt
acentllouulltgestimates mlldll 1Iy the 00rlpanys DlreeI6tll lIS weI as eYcaltiaU1lamp theDvetlltl pres ntaliQfi
centfthe f)naneia1 stlltem1ll1ts
We blljlI tlrattheallPit evldel1l~e we have obtained Is upoundfotellatrcl~lPtopriateto lltlddegt~$lii
lPt our8lliiJ6plnlQnon the filJancentj~1 statements
OpUiton
Ihour opinllli iuld to tlte Mst ofoar ltifo11i~tim~lrdaooord1fgtli tile 1l~tlilnatiDus~iYelilQs tb~
atoresalil fiIianelalstatemefttsgivl the jllfoJ1natioutfequJred bydill All lnthlii manuel soreqwr d llill
~be a trueamf fa~ 1lew incon(~fml~lt~lth the llcentcountmgprinclples SIl11erany accepted in In il wi ihestlttliimiddotofaffults pfthe CbJnailyasal 311031~011i llrtdit1P1fitanJil$ ltash floWs for th leyen endedOlltlilJt date
J fISttAII
2~$MlarilMmiddot~~GH~rlbhaklcaQny RlIee COUrs~IlIGle a~Qda1Aa~ilo15
M em lLBFCJI
Thh(~265Y 233 7064middot Fax(Q2l5)23Smiddot43SI middotEll1allsllijh$llllllIWilmailoom
RepQrl 011 Othel Legal al1iJ iQ~gullltOly Requilemlnts
A~te~lted ~y thCompanles (AlmtlgttS ReIQrt) Qrder20l6etbe Otller) i~sued by the e1)trllil
OOVall1p)lllX pnldi~ ilj terms of sub SeltiPll (ll) of seetion 14a ot the Cp1lJlIallles Aet203 We
ghe inthe Anne~)JJeA slatements on tie mattets sp~ifiet1 ill plltllgrJ1hs 3111Q41fthe ordat to the bull
elitwttOlpplica01e
Asreqllted by$eettoll 143 (10) OllheAet Ye repQt that
(Wi We traye SQuglltand ubtaUrad jllIthe JllfQtnatMaud exph1naPllS which to thebullbestlofoW
mowedlteallIPheiefweteneceSSllry furthe putpi1sesmiddotOfour audit _
or) III ourOpilliouprel1eJ booksofaecoJlJlt asrequlredby lawhJlebeell keptbytileCom
filrJ$ iblp~at$tioD DUt exarnciMtiun ltfthbScent backs
(il nne JllU1lt1e Sheetihe SratementmiddotofJlNi andLoss and the eash ~OW$tlyentllnlentde
hythls iRelpttate inllgj7oornelJt wlthihe books afMcoUnt
(liI) moM ppllflibJi tile aftI~sall lilttaficfal Stiitliments nottilJy with the Aecounjil~ S dltdl- ~plcentifled nttdet S1Ction 133 ofthe Act ~l)d with Ru1e 1ofheCQUjianies (kccouut~) fIlls
zrJil4
(e) Ont1w~isef the Wfiltetrepresentations te~cent(wdftpm the dtrectors as Oil ~tl()lllZ(llli taken
6il tecotd ibythe 13Qllfd ofJiteclofs noneof tim dllfeCtlrl is rIftSC(llaJtfed as plO~hll) from
heilJgappointedas J ditelltot III terlilllofSeciion 1MCZ)oftlieAct
(fj the cPtllpany hasatJ~~l)fe itteilil~iiiiiMcihjoontrllrs systemilJ p1liCeamther~ s J)l
operatingeffiletivene~idt1i~ncb llci~rtlol~ Atep6rigiviJB~F Icent$Pti1sibltlties lind llpinlQ blls _ - Igt
bilillt ailllexedltetewlth
fllf lWt1i~r~J1ltot to middotthe utllet matters to b~ mrtludeli inthe Auditrs Replll ill aCcQtdllnce with
l1llliN 1iNheCotnpanies(A~dit lIl1d AuntQ~) Rules 2bJ 4 inOUl opinion ana tllltl stof
l1IurtnfOlltlllliM lIhdaCcotdingio the oxplanatiQJls given to15
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2~amarpilrj~6 Harj~~~~ CoIQny RaC1icr~urse Circle Vadodaramiddot 300 015 rel(P6S) ~~31OM f~(02Qamp)235 416$ ~ail shalijillllllvfgil8iIiCOm
10 The Companyhas alSclo~eil tire hqpad of penaiqg litigatlGos OR Itsflnanelalpositk n ill itsfincialslatCi1ielts
JiIM Clnrp~)lYllas mlldeprllVisll)lltefllkediindeF tbellPpjjqlltllll llI-W Q1 llOOOn tiPg s~ll1dlllds teurolt material foreseeable lasses If any on longcentermcootracls lnclu ing dilvtluve e6lltrtlcentts
iiL The~e has beeIoodellly ill ttamp11sferrlttgltIoQllts 1elulredW be ttallsfeueltl td riiYest~r Edullatliln arrd IllilckmFllldbythe Company
the
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ANNEXURE TO Tm INallt)PENJ)ENT AUDJ[ON~S REPORT OF E~N frATE ON T1tEPiNANC1AL Si1AJIEMENT OJ CQIlAL LABORATORIES LrDAS ON 31st MARCIUtJ16
klll0rtontheinteJinliLflnllinllflrl coofttolsnntbllclause(j ofsob ~Icenttlon3middotr
Selltlllll14SorflrceompanicllAcentt2013 (IUe Act)
fo ihe mllmhers oicQr1 hJlgtorlltories Ltd Wiellaeauditedthe tnternll 1JUlI1Qial cQ1trGlsoVltlr fl1lllt~illil repCireil1g0f SIrtlle bra aho_orills Ltd (IeC()l)lPll11Y)as of Mith 3J2~ltJ itt il0~llJ1etitl1fwith onf aUdit 0middot the stanillilonefl]jaoc~lllstlltemtlntQflheCompaJY foJfttte Jllar endedontlWi date
MilllliJlllmelts resPQDsildUty pound01 internal financiaconltrols TheG()nlpanis Managemllnt is responsible fQr estahishlngmiddotand maintaining infernal fi cial COOtl018 based 911 the ~l1tll~ltar CQl1tfetI over tltll~ncent1a1 te~Ql1iitig ctiteril established by the centomp~yenc(m~qeringtbl ~ss(1)tillmiddotc)mPQitents of iotefllltl contl~Ql Stated intlte iJuidaftce middotote on Audit of Internal i1il1Ji1Jlll Cpl1trolsmiddot Oyer Financial RepJfilng issued hy the lwtitut Of Chartered ~CCOUl1tJil1sOfln~Ha Thllse responsihillties include the aesigj itliplernet1tatiooand maintenance Qfldegu~tll illteliDlIl tinancillleontrol~ that were Ii1perafing effilctivtll) poundor ens ring lh~ mdlir~y amJ e$(llilentean1gcfoflts business includlngadherettce to 1iIle C(it11pam~s polies th~$ilfegijarltt~gQfits a~~tslhePreventiQl)and ihttTllltion oJftaudand errors theatollr and GomplltWs$ Iilf tlte accounting records aliittimelyprepamtion oftellllble nf1andial informa on ll r~llllt~tl lIltl~r The Oornpanies Act2913
~
OUtt~pQMI])i1I~~ is to express-an opinion 01) the JQIJiI1mys tnternaltinancilt ellfittQI~ Iiet financllil tcentlloltillg based-on ()l1rjl~lt We condl~ed olltalllit in accordance with tire Gnld ee Noteon Audit of1lntemalllnllnllttlcentonttoJ~ Over FiMncial RePiltiing (nthll Ollidimell 11 tel) and the Standlttrds 01) Audltingls sp(cifiedurrder section tfpGaQ~of Campanili A~ ZOl ttl the el(tentapp1icable lOan 1I1141t lfl1tetnaI tinancial contrllls hothiapp1icahttl to anaudit of t~(lTIaJFinanciaICmttols G-poth Issued by theIllstftote (lfGhlllftetedaceoulttants of dia thoswStlDdar~s 1ll14 6t11qlIDee bil~te require that we cornjiiy wUll ethielil tequiremens and Ian Mdpetlftrm the audit tJJ obt~in r~llSPlnbleassutanee middotabolltihefFtet adequate itttetnal flnlleial co(lttols 1yenerlnajlcialtePotiingwlliScentsJIj))lfsAeGland ntail1tllined 1I11cli Ifsuch controlsape ated middoteffectlvelY in all material respects
bull
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-bullbull4
2~$lIfl1atllllh 21lJitalibhaktMjiJlo~ lilacs CdUi1Iflltliltle Vadodaramiddot 390015 rr(oZ6s1l337Q6t middotF(0265) 235 4388E~it shahlllllghvllillgma)1lXll)l
Durandft l1Vollrlls perlbtltting procedures to obtliln alildit evidcentnee abaJlJ tbe acleqpllCY f the I itiUltnal firtaMlill eorlttols systemover fin~noialreJlottlgnl Ilifir ape~qtingetfeQtlvllrjegt bull Our IIIUt of ititerl1idfJfI~~laJ controls overflnanclalepol(ipg iPgl~ed QPtainlng an un(lluSt nding of lltetnli flltllclltl 0001t61 crVllt fiMiclalreponingilssesslng the llsl fuafil mater]we less I exists and testlll~ and evaluatln~ the design and Qperllting effeclveness ofimernlgonirol hasell I
filn the assessed risk Ihe procedures selected dllpenlt em ~eaudi~ts J1Icgtnent iMlqillg the 1 tassessmentofthe risks otmaterMmisstat~bJ~nt oftlteltnregelal$at(lfllenIS WletJ1~rd1letl fiadd [
ererrors I Ii
r IWe helieve that iheatldit eyjrlencewe have Qbtaineil issuff1cientan~jj~grl1ptiate to prli idfla
basisrOT OUT audit opinion on till )I)teQlJl fhllmda gont~ols systemllVeTtlnaneial feporling
MeanlJlgofinternl IanelillCQltr01QyerUl1llJlliat rlpllrting
A cOfupanYs lltel1l1al gullnollli lt)l1tQloyer ltmUcialreportlng isaprocess designed til pr vid reasonableessuranee regardlng the relilibJHty of fluanel] repottng and the preparati It M finanelal sratllllli)mts formiddot~tlrnal p~rposes Inllcllordanee wlthgenellllly llcentcentepted aeeou tlll8 pdnclple) AcompallYs intllmatiinaneiaJ control overnnllnoilll rep0riihll inclUdes tliose po id~s mid ~Qcedures thllt (I peJtllhl to tile iUlll)teltMPe Qfrecouds that ill reasonable tail lccllrately and fair]y remet thetransll1ltions and 1iispOsi~ins of the assets of the company] (2) pO~tde reasonable assuranee thattransaptions arereeetded llsneeeSsaxy to pei1tilit preparllti n of fiallllcentlalc statement in lIiCetltdlnce With gellera115aecepted acootlJitingprineipIes and tltat re~Pts ltutA eXlllndltnres ofthe company arebeingmMeoily ifiaecordaRee with eutheriza lOt$ ofmMagemetrt and directors iJFthe eomgtlllyand (3~ providereaslilnahle assnrance rllla liP$ p(llveltdon 0rtimely detectlQrtof unauthorleedacqulsitionuse oedlspositlon of tbe CQltlp nys assenrthal eouldhave ltiltatllriaeffebton thefihailltlialSlatemenls
Because of the Inherent litnitalion of internal filmnci alIlQIWrols over finan(lt rltpoct1g inolllaittll lJIe possibilitY at collusion or ~mpropet lUanag~1lwrioyenel1ViltteQf cllntrltilil mat rilll mlsstatement$dge tll IJTOforfrlludmayoccuraniltr()1 bed~teQjtelJ AIsli11 projections pi any evailuatioI) of the intemaltrtln9i~rcol~olsYOllr1tllancMrep0rdngtofilttlr~ period are subJe t til the risk Pqlt the lntemllF flnMiiaIQQt1tt61nVerfiflalloiaF repotlfng may become lnade-ate l1eellllseof chaflges lnQQilcrlflqnS~ or Hit tile degJee of co1tlitianClgt with (he poltcie or prQQurcentsmalideteri0tale
JP SHAH MC(i bull I~ajFcoA~1~~~~~
2imiddot~tpln- 26 HMbMkfjCoIQlYjRilceQ()~ClIciQ VadQdara- 390 015 fel1(O~651 ts~ 7064 F~(1126~)235 4356- E(tIll1l shlih$lll1llhvlgmaiillQm
ItlotlXQpittiell tbeC(itlf~aoy has ili~Lrnraterial respeetsen adiJqual1l internal financlllloQt1 ~ystetnltlYer fihattclllL riepo~llgandSUllltnte~111Jl fll1ancial cDntroSoftll UnatlClalre~ottlnll operlltinlplffutlvely- asmiddotlitMargb 312016 based ontheInternal conlJtdl overll11aileililrtpe jr i1titcrlilllsliWlisled IPY tpeCpmpllllY considerlng the esSehtialcompilmnts oflfittmalconttol stated ill theGUidanceNpteQll A~ldlt l)flntemaIFmanoiliIContrQIs Ovw IFIllanelal Bilil1ortin issued h)itbl Tnstitute QfQllatterelif Accountants OfIhdia
Fo~ urd on pehalf of SBAll SANtillV AND COMPANyen ClIAJIXpoundRED ACCOUNTiNTS leAl RlJGNO 0109794W
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) May 2016 PtAC1iMlItnblli
bull
Jbull p SHAH M middotornLL~ bullbulljCA
2Siimllliall~~ H~rQhiiiill Colony Rll1icento~l$eCirle Vadodall~gO~le rettB26~ ~33 1~-~iIK(if265j2354386 -Email shahsanghvigmaJfcolII
(ltW~tlii1l tl1 inabOYllttlte 1lu(jitQrSi repenofeven dateto tbe J)lcentrtrberso CORAL LAJ30RAOmES LJMl1EDoillne fJlancentjlll$tiitetnllnt~ 10theyear ended 3102016)
1 (Ili)TlIeiZOmpEllJY hallmaintairted PrQper records showilrg ttIl patliieulllsihelual Iii qllllti~lie lt1eWrsand $ltu~tmnQfFhled Assets
(b1 1lllt~ml~ets hll5ic b~nphysi~aIIverified by thel11anllgelilent at teasnnilil intervals No mllte1lll1dJScentrcIlllti9ies werenmmed onSlich verlfiGlftion
(Q~ Inourqpilliouaml apcoclIhgtotlte ufol1matian andexplanationgiven to us th titled~ds of immovable properties are held in the nameofthecomp41lY
ii Plilystcalvtlilneatiol1 ofInventoryhas beeneondqcjedat reasoMbe ntetliaI by managcentli~lit i
ilhdno D)llrerMldisetepllnPw WrenotilleaOI1swelvcdficatlon
m kltpcptding tothe illf01Qlatkm and exptAAatilln given to IIgt theltompltlyen hM 11llgtlltltel ~y
lolllS secured or lnSee1lfed to ~llml1anleS flttfisUmited liahilitY IJ_erlll1ipsootnlf ~arties covered lre~lsternlaltttlaquoineil ~s 189 afthemiddotAct I rti view qf the ilhcfVe prqvlsiQls of clause 3 (iii) (1t)GD) and 0) are tOt llPpJeable to the IcollJlany I
iiV Inlllllotiblbn EIlJd lcent(Ij)tlmg to tnfprtrfatiPltliftd eXlfl1l8U0l1sglVeii tqJ~fbelll pany lJilll in
respeot ot IIlllaS flJltes1ltiilentsgualantees and secUfty prolvlsI0lils l)Qmpliedwith s tlQraquo 1783 and sectlonl116 oil1he Cllrnpanics Act El013
v J1lording totliliWfol1l1~tiQlJandexplanatiangiVeinp ulI the CltWIpany htls not eeepterl IlnY
III QepQsitsIIencethe jprcvlsioilsofclause S(II lUe notappllcableto the company
Wi hlloyenelioAdly tevleyltlithcent bollkSlgtpound acentcentPllllts maintained py hilc0mpanyp ampiJool to the j rule~ made by theCenmlaquoi J3QVllmment of India Themaintenance ofcost reco (Is has beep II ptelicdveduls t411(j) of l~e Act anq We lUeof the qpim1l) that primaflcil tIt 1ll1eseribed
alllloUlilts llItllreeords navcentbeen made anilihaintafneQ Wemiddot middothavetrot hOWllYer eadlltaiecl eliiUiflfilltionQftherecords Withayenlew t1deiennllleWllitthlj they are ilCCllratetit co pllt~
ViL (lJ) AeeQOOing to the OQoyenstlid Je~otds ~produeed aildegtltlU1linedby Usin l1ord41loe With ~lIetmlyen~llted AudltfrlgPta411ceslnJndi1J lihd ilsQmanagemeht representation unQis)Iuwd statiltQqdu~s intespe~ of lrovfdentlbnd lemwloyees Sfatelnsmilnce lneltgttne t SilWs tax Se~leela)(CUjtotfi d~~ ~xillseifaJY Vii1tlekiaed fax CeSSllnd ltlth materialsl qtoty dues ilppliealiiletaithas beelilXegularly depositeClwithaiproptiate authorities
--------------------- -__--------~_I
J PSHAH Me mLUtFcA
2middotSamarpltlnmiddot~aililad~~lIli Colony RllceCou~ ClrclQVadodarimiddot390Qt5 Tel(Q26S)2iMOalt Faxi(O~e5)23S~B6 middotErniJil Shahsar9hVigmailrom
~tl AccQrlingto the records of the company the disputed dues in respectofexc] e dutyof Rs ~8$i ls ~re~i())illi YeartslS561acs)setvicetax Rs nil (preYousyeal Rsnit) and sales tax Rsml ~rIlV1U~ ~emiddotat RJgti lil) income tax as nilprevions year Rs nil ) as at TIiar h 3 I 2016 hallenlll heen deposited WiiiliL appropriate authorities ilrtcl no prevision has been made for the same
St Nmueof fue Name of Amount Peded to which the FomID where 11(jmiddot istatllteJJlleSmiddot ~Si in ameunt relates dispute is pellding
Lacs) OfJ)he centrl1 tIQi~c IS56 2(Olmiddot032003middotQ4 Ik SUptCU1e centbm
ElIcentise~ct t944 tgtuti 200405 iMewDIl11 I _
]houtQPinioll and acoofilittg to theinformatlon andellplanatigifgJYcn tous anlil tbllljoolt$of acebunts Verified by us the company has not4et1lllt~ in liepa~tllnt of dll t~ tIJfanciil1 instit1ltQnbarik((joVCll11llllnf 01 dues to tebenwe hold~
is llet iufilrrnaijlJugivln to usno 1111IneywaSnilsedibY way 0-pound initiaipubfieoller orfurther i J1ll1ilfcentofe~ (in~Iuclingdebt lnstfuments) No term loaasarelfliseobiy thecompafiy duxillfl the
-1 year
amp Durittgtlie ceurse ofour ~xarniWltlonQtbotisiofacCOJIDt~olnrled in acentcentordte with tb~ Olltetaly Aqcepted Al1diting Standards 1m IJldi~ wehll~e nllther (jl1me lI(rossmiddot InstlWice lf fraud on er h~ the oompany either noticed er repotied dmng the year nor 11 ~iVewe been Il1formed ofampuch lease-by themanagemetit
xi Acent~9r4ng to int9rrntttlOn and elltpIanatlon g1VIltto U$ and ltbcent books ilpound acoilitts ~~finlamp b~middotI1lS the mnnagerlllfrettlJIDeratlonhl becn pard pr pr()~idel incompliance With SeetiQn97 readwith Schedute Vto theCompanies Act 2019
Thecompany is nota Nidhi company hence th~ prQli~~OIli cr$ lJaUl111 3(xli)aIlnQt alJPiil)aamplil to the Cqmpany
xiii All transactians with Jh~ related PaJtties ate incol[fp-liancj wi~h seetion t77 and 1880pound -Companies Act 2013WIJcenttcent appIii1ajfe and the details haYe been disclosed 11 he 1fillcillii Statements etc as required hytheapplicableaceountingstoodards
x~v According to infermation-and explanatlon given tlJ Wland the lJQdks ofaccounts j etified by us the company dutifigtheW~lthaSlilJtlllade an preietefitill1 liflbt1tlent orprivate plementqf shares or fully or partIlbdiverti1ile debentures ieJ1l tl1lprovicention Qfclavse $ xht) are tot apptlCllheto companies
xv According to inforrnati0lande~Illanationgiven tous and the bQoksofaOcliUbts elffied by us the rompany has not epteted into any noncashtrensacticn withditelt0rs ot perijl) seomrcct64 Iwithit I
i i [
IImiddotbull
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Shah Sanghvj ace CHARTe~EDACCOUNTANTS
~1l~11l~Pll Z$iJ(aribhakti CQlony Ra~Cdurs~ CirCle adooara-390 InS Tel(O$61 233 7~jax(Qaa5) z~54aaa E-ltiali shahsai1Jhvfg01aiIOOil
M e
~it 1934
FOR $hilr$llughviampCo (Clill~ered AeeQUUital1ts) ~~g No~r09794W
JISHAlt (IttlprietoF) Menihel1~)dJI NQ Q3461O
The ltompatly is Wilt req)1ired to be regl~tered 1Jniiletseetlo 4SrAllfthe Re~elVe
JP$tfAH m LIltECA
ank onndfa
~ JPSHAHrA bull bull bull 0 imiddotElihmiddotmiddotbull5amiddotmiddotnghflilmiddot amp 0bVlaquo (lt101 LL8fCAmiddotmiddoti bull c eH~RT~~et)AOODtlNTANTS
-~
2 ~sam3rililn26laribloIiU ()(jjQnyR~lraquoCQuJl~llfllI~ Vadll(illramiddot ~9b 015 T~I(02S~233 7Q64~ll(0265)235 43a6 Em~ltsha~sanghVigmallto~
~ -
We ltalle tlIk~ll mi~l~oll)lJ t1)~ prmSlolJ$ of the Act theaccO1tlJg and alltIrllig itlll atdS and
mattlilll which atll t~glJclred tQ he llIcentlude4111 the audit repOtt unq~rtlllaquo pl1OVfsJrmil Qifthe A ~d the
iRIlesttiade t1terellnle
WIiCQndliltei1 our allQlt 1ft accordlAt61fwilh tllil StandardS oil Audili)g spified tind Seettoll
143(1P)ofthe Ail tkoseStalldarcis requtte that wecQJiply Iilitli etl1ai retWlelllenls Mil Ian and
yewIll) the 311dMlgtbotain rflsotiable assItiilJCe aboutWllether the flijaliQlitl slateriielfs ate eeftom
materia ntisstatement e
$gtnl1udft ilVpVesperfotnUlg procedures to olliitll auditevlltllllgt abqql the arnounts d tire
d$i1rsilfes fn tlle financial statemenls the proeedlregssliteolelti ltipetld en the atldltrsgtjllmiddot gment
InlllUdllil tfie assesstrtent 0ftlerhilis6tmllte~i~J n11sslaemefit ()f~lre Jjnailcentlal stMeilJeills wh Iit due
10 ftllld ct error lnlllliking thlilslHisk as~ssments the alldltQt eOllliders Mem filiuleiel eonlt61
tltilevent tltJ the COlllp1iIlYs prep~li(jti off the j1lfancialstateil~ts that give a true llnd 1itirl~W ill
middotbtder to ilesl~ audit J)l9Cilldlreslllet are apj1tQptillJe in tl)eliteumslltm~cent$ An llltlit ais) I centludes
epoundauating 111 epprl)prill~lJessl)f tl aileOlllllillg ~i1ieh~s llsed andtbe teasonllblel1eSS of tbgt
acentllouulltgestimates mlldll 1Iy the 00rlpanys DlreeI6tll lIS weI as eYcaltiaU1lamp theDvetlltl pres ntaliQfi
centfthe f)naneia1 stlltem1ll1ts
We blljlI tlrattheallPit evldel1l~e we have obtained Is upoundfotellatrcl~lPtopriateto lltlddegt~$lii
lPt our8lliiJ6plnlQnon the filJancentj~1 statements
OpUiton
Ihour opinllli iuld to tlte Mst ofoar ltifo11i~tim~lrdaooord1fgtli tile 1l~tlilnatiDus~iYelilQs tb~
atoresalil fiIianelalstatemefttsgivl the jllfoJ1natioutfequJred bydill All lnthlii manuel soreqwr d llill
~be a trueamf fa~ 1lew incon(~fml~lt~lth the llcentcountmgprinclples SIl11erany accepted in In il wi ihestlttliimiddotofaffults pfthe CbJnailyasal 311031~011i llrtdit1P1fitanJil$ ltash floWs for th leyen endedOlltlilJt date
J fISttAII
2~$MlarilMmiddot~~GH~rlbhaklcaQny RlIee COUrs~IlIGle a~Qda1Aa~ilo15
M em lLBFCJI
Thh(~265Y 233 7064middot Fax(Q2l5)23Smiddot43SI middotEll1allsllijh$llllllIWilmailoom
RepQrl 011 Othel Legal al1iJ iQ~gullltOly Requilemlnts
A~te~lted ~y thCompanles (AlmtlgttS ReIQrt) Qrder20l6etbe Otller) i~sued by the e1)trllil
OOVall1p)lllX pnldi~ ilj terms of sub SeltiPll (ll) of seetion 14a ot the Cp1lJlIallles Aet203 We
ghe inthe Anne~)JJeA slatements on tie mattets sp~ifiet1 ill plltllgrJ1hs 3111Q41fthe ordat to the bull
elitwttOlpplica01e
Asreqllted by$eettoll 143 (10) OllheAet Ye repQt that
(Wi We traye SQuglltand ubtaUrad jllIthe JllfQtnatMaud exph1naPllS which to thebullbestlofoW
mowedlteallIPheiefweteneceSSllry furthe putpi1sesmiddotOfour audit _
or) III ourOpilliouprel1eJ booksofaecoJlJlt asrequlredby lawhJlebeell keptbytileCom
filrJ$ iblp~at$tioD DUt exarnciMtiun ltfthbScent backs
(il nne JllU1lt1e Sheetihe SratementmiddotofJlNi andLoss and the eash ~OW$tlyentllnlentde
hythls iRelpttate inllgj7oornelJt wlthihe books afMcoUnt
(liI) moM ppllflibJi tile aftI~sall lilttaficfal Stiitliments nottilJy with the Aecounjil~ S dltdl- ~plcentifled nttdet S1Ction 133 ofthe Act ~l)d with Ru1e 1ofheCQUjianies (kccouut~) fIlls
zrJil4
(e) Ont1w~isef the Wfiltetrepresentations te~cent(wdftpm the dtrectors as Oil ~tl()lllZ(llli taken
6il tecotd ibythe 13Qllfd ofJiteclofs noneof tim dllfeCtlrl is rIftSC(llaJtfed as plO~hll) from
heilJgappointedas J ditelltot III terlilllofSeciion 1MCZ)oftlieAct
(fj the cPtllpany hasatJ~~l)fe itteilil~iiiiiMcihjoontrllrs systemilJ p1liCeamther~ s J)l
operatingeffiletivene~idt1i~ncb llci~rtlol~ Atep6rigiviJB~F Icent$Pti1sibltlties lind llpinlQ blls _ - Igt
bilillt ailllexedltetewlth
fllf lWt1i~r~J1ltot to middotthe utllet matters to b~ mrtludeli inthe Auditrs Replll ill aCcQtdllnce with
l1llliN 1iNheCotnpanies(A~dit lIl1d AuntQ~) Rules 2bJ 4 inOUl opinion ana tllltl stof
l1IurtnfOlltlllliM lIhdaCcotdingio the oxplanatiQJls given to15
NCQ
2~amarpilrj~6 Harj~~~~ CoIQny RaC1icr~urse Circle Vadodaramiddot 300 015 rel(P6S) ~~31OM f~(02Qamp)235 416$ ~ail shalijillllllvfgil8iIiCOm
10 The Companyhas alSclo~eil tire hqpad of penaiqg litigatlGos OR Itsflnanelalpositk n ill itsfincialslatCi1ielts
JiIM Clnrp~)lYllas mlldeprllVisll)lltefllkediindeF tbellPpjjqlltllll llI-W Q1 llOOOn tiPg s~ll1dlllds teurolt material foreseeable lasses If any on longcentermcootracls lnclu ing dilvtluve e6lltrtlcentts
iiL The~e has beeIoodellly ill ttamp11sferrlttgltIoQllts 1elulredW be ttallsfeueltl td riiYest~r Edullatliln arrd IllilckmFllldbythe Company
the
(If 1IlXlaquo$$1UJ -Ite iiMilil1bi1
FORShah Sanglvi amp C bull (Charter-ed ACcIUlltantsi
RegN~tOIl794W
JlT~l[AB nlpiietor
rvtNlI 014()~l
J ll$IdAIi IJLJ~bullF~iA
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bull
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~ ~~IpW[l ~ Hari~il~W~JonyRaCllCou(SeCiIClllYsQlllra ~O MS ~~11~~Eli) tlii il~FIl~laquo~aa5) 235 4Sas bullEn1aijlsh~h$OgtlyiQmiljlilgt9if1
ANNEXURE TO Tm INallt)PENJ)ENT AUDJ[ON~S REPORT OF E~N frATE ON T1tEPiNANC1AL Si1AJIEMENT OJ CQIlAL LABORATORIES LrDAS ON 31st MARCIUtJ16
klll0rtontheinteJinliLflnllinllflrl coofttolsnntbllclause(j ofsob ~Icenttlon3middotr
Selltlllll14SorflrceompanicllAcentt2013 (IUe Act)
fo ihe mllmhers oicQr1 hJlgtorlltories Ltd Wiellaeauditedthe tnternll 1JUlI1Qial cQ1trGlsoVltlr fl1lllt~illil repCireil1g0f SIrtlle bra aho_orills Ltd (IeC()l)lPll11Y)as of Mith 3J2~ltJ itt il0~llJ1etitl1fwith onf aUdit 0middot the stanillilonefl]jaoc~lllstlltemtlntQflheCompaJY foJfttte Jllar endedontlWi date
MilllliJlllmelts resPQDsildUty pound01 internal financiaconltrols TheG()nlpanis Managemllnt is responsible fQr estahishlngmiddotand maintaining infernal fi cial COOtl018 based 911 the ~l1tll~ltar CQl1tfetI over tltll~ncent1a1 te~Ql1iitig ctiteril established by the centomp~yenc(m~qeringtbl ~ss(1)tillmiddotc)mPQitents of iotefllltl contl~Ql Stated intlte iJuidaftce middotote on Audit of Internal i1il1Ji1Jlll Cpl1trolsmiddot Oyer Financial RepJfilng issued hy the lwtitut Of Chartered ~CCOUl1tJil1sOfln~Ha Thllse responsihillties include the aesigj itliplernet1tatiooand maintenance Qfldegu~tll illteliDlIl tinancillleontrol~ that were Ii1perafing effilctivtll) poundor ens ring lh~ mdlir~y amJ e$(llilentean1gcfoflts business includlngadherettce to 1iIle C(it11pam~s polies th~$ilfegijarltt~gQfits a~~tslhePreventiQl)and ihttTllltion oJftaudand errors theatollr and GomplltWs$ Iilf tlte accounting records aliittimelyprepamtion oftellllble nf1andial informa on ll r~llllt~tl lIltl~r The Oornpanies Act2913
~
OUtt~pQMI])i1I~~ is to express-an opinion 01) the JQIJiI1mys tnternaltinancilt ellfittQI~ Iiet financllil tcentlloltillg based-on ()l1rjl~lt We condl~ed olltalllit in accordance with tire Gnld ee Noteon Audit of1lntemalllnllnllttlcentonttoJ~ Over FiMncial RePiltiing (nthll Ollidimell 11 tel) and the Standlttrds 01) Audltingls sp(cifiedurrder section tfpGaQ~of Campanili A~ ZOl ttl the el(tentapp1icable lOan 1I1141t lfl1tetnaI tinancial contrllls hothiapp1icahttl to anaudit of t~(lTIaJFinanciaICmttols G-poth Issued by theIllstftote (lfGhlllftetedaceoulttants of dia thoswStlDdar~s 1ll14 6t11qlIDee bil~te require that we cornjiiy wUll ethielil tequiremens and Ian Mdpetlftrm the audit tJJ obt~in r~llSPlnbleassutanee middotabolltihefFtet adequate itttetnal flnlleial co(lttols 1yenerlnajlcialtePotiingwlliScentsJIj))lfsAeGland ntail1tllined 1I11cli Ifsuch controlsape ated middoteffectlvelY in all material respects
bull
JPSHAH(fmiddot~)Shah Sanghviamp CQ Mmiddot mLL8FYiAy eHA~TSfe[) Al)C~lJJrtilTANTa
-bullbull4
2~$lIfl1atllllh 21lJitalibhaktMjiJlo~ lilacs CdUi1Iflltliltle Vadodaramiddot 390015 rr(oZ6s1l337Q6t middotF(0265) 235 4388E~it shahlllllghvllillgma)1lXll)l
Durandft l1Vollrlls perlbtltting procedures to obtliln alildit evidcentnee abaJlJ tbe acleqpllCY f the I itiUltnal firtaMlill eorlttols systemover fin~noialreJlottlgnl Ilifir ape~qtingetfeQtlvllrjegt bull Our IIIUt of ititerl1idfJfI~~laJ controls overflnanclalepol(ipg iPgl~ed QPtainlng an un(lluSt nding of lltetnli flltllclltl 0001t61 crVllt fiMiclalreponingilssesslng the llsl fuafil mater]we less I exists and testlll~ and evaluatln~ the design and Qperllting effeclveness ofimernlgonirol hasell I
filn the assessed risk Ihe procedures selected dllpenlt em ~eaudi~ts J1Icgtnent iMlqillg the 1 tassessmentofthe risks otmaterMmisstat~bJ~nt oftlteltnregelal$at(lfllenIS WletJ1~rd1letl fiadd [
ererrors I Ii
r IWe helieve that iheatldit eyjrlencewe have Qbtaineil issuff1cientan~jj~grl1ptiate to prli idfla
basisrOT OUT audit opinion on till )I)teQlJl fhllmda gont~ols systemllVeTtlnaneial feporling
MeanlJlgofinternl IanelillCQltr01QyerUl1llJlliat rlpllrting
A cOfupanYs lltel1l1al gullnollli lt)l1tQloyer ltmUcialreportlng isaprocess designed til pr vid reasonableessuranee regardlng the relilibJHty of fluanel] repottng and the preparati It M finanelal sratllllli)mts formiddot~tlrnal p~rposes Inllcllordanee wlthgenellllly llcentcentepted aeeou tlll8 pdnclple) AcompallYs intllmatiinaneiaJ control overnnllnoilll rep0riihll inclUdes tliose po id~s mid ~Qcedures thllt (I peJtllhl to tile iUlll)teltMPe Qfrecouds that ill reasonable tail lccllrately and fair]y remet thetransll1ltions and 1iispOsi~ins of the assets of the company] (2) pO~tde reasonable assuranee thattransaptions arereeetded llsneeeSsaxy to pei1tilit preparllti n of fiallllcentlalc statement in lIiCetltdlnce With gellera115aecepted acootlJitingprineipIes and tltat re~Pts ltutA eXlllndltnres ofthe company arebeingmMeoily ifiaecordaRee with eutheriza lOt$ ofmMagemetrt and directors iJFthe eomgtlllyand (3~ providereaslilnahle assnrance rllla liP$ p(llveltdon 0rtimely detectlQrtof unauthorleedacqulsitionuse oedlspositlon of tbe CQltlp nys assenrthal eouldhave ltiltatllriaeffebton thefihailltlialSlatemenls
Because of the Inherent litnitalion of internal filmnci alIlQIWrols over finan(lt rltpoct1g inolllaittll lJIe possibilitY at collusion or ~mpropet lUanag~1lwrioyenel1ViltteQf cllntrltilil mat rilll mlsstatement$dge tll IJTOforfrlludmayoccuraniltr()1 bed~teQjtelJ AIsli11 projections pi any evailuatioI) of the intemaltrtln9i~rcol~olsYOllr1tllancMrep0rdngtofilttlr~ period are subJe t til the risk Pqlt the lntemllF flnMiiaIQQt1tt61nVerfiflalloiaF repotlfng may become lnade-ate l1eellllseof chaflges lnQQilcrlflqnS~ or Hit tile degJee of co1tlitianClgt with (he poltcie or prQQurcentsmalideteri0tale
JP SHAH MC(i bull I~ajFcoA~1~~~~~
2imiddot~tpln- 26 HMbMkfjCoIQlYjRilceQ()~ClIciQ VadQdara- 390 015 fel1(O~651 ts~ 7064 F~(1126~)235 4356- E(tIll1l shlih$lll1llhvlgmaiillQm
ItlotlXQpittiell tbeC(itlf~aoy has ili~Lrnraterial respeetsen adiJqual1l internal financlllloQt1 ~ystetnltlYer fihattclllL riepo~llgandSUllltnte~111Jl fll1ancial cDntroSoftll UnatlClalre~ottlnll operlltinlplffutlvely- asmiddotlitMargb 312016 based ontheInternal conlJtdl overll11aileililrtpe jr i1titcrlilllsliWlisled IPY tpeCpmpllllY considerlng the esSehtialcompilmnts oflfittmalconttol stated ill theGUidanceNpteQll A~ldlt l)flntemaIFmanoiliIContrQIs Ovw IFIllanelal Bilil1ortin issued h)itbl Tnstitute QfQllatterelif Accountants OfIhdia
Fo~ urd on pehalf of SBAll SANtillV AND COMPANyen ClIAJIXpoundRED ACCOUNTiNTS leAl RlJGNO 0109794W
~
Jl~ Propriefot MNOI034010 DAtH JUI
) May 2016 PtAC1iMlItnblli
bull
Jbull p SHAH M middotornLL~ bullbulljCA
2Siimllliall~~ H~rQhiiiill Colony Rll1icento~l$eCirle Vadodall~gO~le rettB26~ ~33 1~-~iIK(if265j2354386 -Email shahsanghvigmaJfcolII
(ltW~tlii1l tl1 inabOYllttlte 1lu(jitQrSi repenofeven dateto tbe J)lcentrtrberso CORAL LAJ30RAOmES LJMl1EDoillne fJlancentjlll$tiitetnllnt~ 10theyear ended 3102016)
1 (Ili)TlIeiZOmpEllJY hallmaintairted PrQper records showilrg ttIl patliieulllsihelual Iii qllllti~lie lt1eWrsand $ltu~tmnQfFhled Assets
(b1 1lllt~ml~ets hll5ic b~nphysi~aIIverified by thel11anllgelilent at teasnnilil intervals No mllte1lll1dJScentrcIlllti9ies werenmmed onSlich verlfiGlftion
(Q~ Inourqpilliouaml apcoclIhgtotlte ufol1matian andexplanationgiven to us th titled~ds of immovable properties are held in the nameofthecomp41lY
ii Plilystcalvtlilneatiol1 ofInventoryhas beeneondqcjedat reasoMbe ntetliaI by managcentli~lit i
ilhdno D)llrerMldisetepllnPw WrenotilleaOI1swelvcdficatlon
m kltpcptding tothe illf01Qlatkm and exptAAatilln given to IIgt theltompltlyen hM 11llgtlltltel ~y
lolllS secured or lnSee1lfed to ~llml1anleS flttfisUmited liahilitY IJ_erlll1ipsootnlf ~arties covered lre~lsternlaltttlaquoineil ~s 189 afthemiddotAct I rti view qf the ilhcfVe prqvlsiQls of clause 3 (iii) (1t)GD) and 0) are tOt llPpJeable to the IcollJlany I
iiV Inlllllotiblbn EIlJd lcent(Ij)tlmg to tnfprtrfatiPltliftd eXlfl1l8U0l1sglVeii tqJ~fbelll pany lJilll in
respeot ot IIlllaS flJltes1ltiilentsgualantees and secUfty prolvlsI0lils l)Qmpliedwith s tlQraquo 1783 and sectlonl116 oil1he Cllrnpanics Act El013
v J1lording totliliWfol1l1~tiQlJandexplanatiangiVeinp ulI the CltWIpany htls not eeepterl IlnY
III QepQsitsIIencethe jprcvlsioilsofclause S(II lUe notappllcableto the company
Wi hlloyenelioAdly tevleyltlithcent bollkSlgtpound acentcentPllllts maintained py hilc0mpanyp ampiJool to the j rule~ made by theCenmlaquoi J3QVllmment of India Themaintenance ofcost reco (Is has beep II ptelicdveduls t411(j) of l~e Act anq We lUeof the qpim1l) that primaflcil tIt 1ll1eseribed
alllloUlilts llItllreeords navcentbeen made anilihaintafneQ Wemiddot middothavetrot hOWllYer eadlltaiecl eliiUiflfilltionQftherecords Withayenlew t1deiennllleWllitthlj they are ilCCllratetit co pllt~
ViL (lJ) AeeQOOing to the OQoyenstlid Je~otds ~produeed aildegtltlU1linedby Usin l1ord41loe With ~lIetmlyen~llted AudltfrlgPta411ceslnJndi1J lihd ilsQmanagemeht representation unQis)Iuwd statiltQqdu~s intespe~ of lrovfdentlbnd lemwloyees Sfatelnsmilnce lneltgttne t SilWs tax Se~leela)(CUjtotfi d~~ ~xillseifaJY Vii1tlekiaed fax CeSSllnd ltlth materialsl qtoty dues ilppliealiiletaithas beelilXegularly depositeClwithaiproptiate authorities
--------------------- -__--------~_I
J PSHAH Me mLUtFcA
2middotSamarpltlnmiddot~aililad~~lIli Colony RllceCou~ ClrclQVadodarimiddot390Qt5 Tel(Q26S)2iMOalt Faxi(O~e5)23S~B6 middotErniJil Shahsar9hVigmailrom
~tl AccQrlingto the records of the company the disputed dues in respectofexc] e dutyof Rs ~8$i ls ~re~i())illi YeartslS561acs)setvicetax Rs nil (preYousyeal Rsnit) and sales tax Rsml ~rIlV1U~ ~emiddotat RJgti lil) income tax as nilprevions year Rs nil ) as at TIiar h 3 I 2016 hallenlll heen deposited WiiiliL appropriate authorities ilrtcl no prevision has been made for the same
St Nmueof fue Name of Amount Peded to which the FomID where 11(jmiddot istatllteJJlleSmiddot ~Si in ameunt relates dispute is pellding
Lacs) OfJ)he centrl1 tIQi~c IS56 2(Olmiddot032003middotQ4 Ik SUptCU1e centbm
ElIcentise~ct t944 tgtuti 200405 iMewDIl11 I _
]houtQPinioll and acoofilittg to theinformatlon andellplanatigifgJYcn tous anlil tbllljoolt$of acebunts Verified by us the company has not4et1lllt~ in liepa~tllnt of dll t~ tIJfanciil1 instit1ltQnbarik((joVCll11llllnf 01 dues to tebenwe hold~
is llet iufilrrnaijlJugivln to usno 1111IneywaSnilsedibY way 0-pound initiaipubfieoller orfurther i J1ll1ilfcentofe~ (in~Iuclingdebt lnstfuments) No term loaasarelfliseobiy thecompafiy duxillfl the
-1 year
amp Durittgtlie ceurse ofour ~xarniWltlonQtbotisiofacCOJIDt~olnrled in acentcentordte with tb~ Olltetaly Aqcepted Al1diting Standards 1m IJldi~ wehll~e nllther (jl1me lI(rossmiddot InstlWice lf fraud on er h~ the oompany either noticed er repotied dmng the year nor 11 ~iVewe been Il1formed ofampuch lease-by themanagemetit
xi Acent~9r4ng to int9rrntttlOn and elltpIanatlon g1VIltto U$ and ltbcent books ilpound acoilitts ~~finlamp b~middotI1lS the mnnagerlllfrettlJIDeratlonhl becn pard pr pr()~idel incompliance With SeetiQn97 readwith Schedute Vto theCompanies Act 2019
Thecompany is nota Nidhi company hence th~ prQli~~OIli cr$ lJaUl111 3(xli)aIlnQt alJPiil)aamplil to the Cqmpany
xiii All transactians with Jh~ related PaJtties ate incol[fp-liancj wi~h seetion t77 and 1880pound -Companies Act 2013WIJcenttcent appIii1ajfe and the details haYe been disclosed 11 he 1fillcillii Statements etc as required hytheapplicableaceountingstoodards
x~v According to infermation-and explanatlon given tlJ Wland the lJQdks ofaccounts j etified by us the company dutifigtheW~lthaSlilJtlllade an preietefitill1 liflbt1tlent orprivate plementqf shares or fully or partIlbdiverti1ile debentures ieJ1l tl1lprovicention Qfclavse $ xht) are tot apptlCllheto companies
xv According to inforrnati0lande~Illanationgiven tous and the bQoksofaOcliUbts elffied by us the rompany has not epteted into any noncashtrensacticn withditelt0rs ot perijl) seomrcct64 Iwithit I
i i [
IImiddotbull
Ir
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PIWCll Mumbai raquoatl lOYOStZill()
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Shah Sanghvj ace CHARTe~EDACCOUNTANTS
~1l~11l~Pll Z$iJ(aribhakti CQlony Ra~Cdurs~ CirCle adooara-390 InS Tel(O$61 233 7~jax(Qaa5) z~54aaa E-ltiali shahsai1Jhvfg01aiIOOil
M e
~it 1934
FOR $hilr$llughviampCo (Clill~ered AeeQUUital1ts) ~~g No~r09794W
JISHAlt (IttlprietoF) Menihel1~)dJI NQ Q3461O
The ltompatly is Wilt req)1ired to be regl~tered 1Jniiletseetlo 4SrAllfthe Re~elVe
JP$tfAH m LIltECA
ank onndfa
J fISttAII
2~$MlarilMmiddot~~GH~rlbhaklcaQny RlIee COUrs~IlIGle a~Qda1Aa~ilo15
M em lLBFCJI
Thh(~265Y 233 7064middot Fax(Q2l5)23Smiddot43SI middotEll1allsllijh$llllllIWilmailoom
RepQrl 011 Othel Legal al1iJ iQ~gullltOly Requilemlnts
A~te~lted ~y thCompanles (AlmtlgttS ReIQrt) Qrder20l6etbe Otller) i~sued by the e1)trllil
OOVall1p)lllX pnldi~ ilj terms of sub SeltiPll (ll) of seetion 14a ot the Cp1lJlIallles Aet203 We
ghe inthe Anne~)JJeA slatements on tie mattets sp~ifiet1 ill plltllgrJ1hs 3111Q41fthe ordat to the bull
elitwttOlpplica01e
Asreqllted by$eettoll 143 (10) OllheAet Ye repQt that
(Wi We traye SQuglltand ubtaUrad jllIthe JllfQtnatMaud exph1naPllS which to thebullbestlofoW
mowedlteallIPheiefweteneceSSllry furthe putpi1sesmiddotOfour audit _
or) III ourOpilliouprel1eJ booksofaecoJlJlt asrequlredby lawhJlebeell keptbytileCom
filrJ$ iblp~at$tioD DUt exarnciMtiun ltfthbScent backs
(il nne JllU1lt1e Sheetihe SratementmiddotofJlNi andLoss and the eash ~OW$tlyentllnlentde
hythls iRelpttate inllgj7oornelJt wlthihe books afMcoUnt
(liI) moM ppllflibJi tile aftI~sall lilttaficfal Stiitliments nottilJy with the Aecounjil~ S dltdl- ~plcentifled nttdet S1Ction 133 ofthe Act ~l)d with Ru1e 1ofheCQUjianies (kccouut~) fIlls
zrJil4
(e) Ont1w~isef the Wfiltetrepresentations te~cent(wdftpm the dtrectors as Oil ~tl()lllZ(llli taken
6il tecotd ibythe 13Qllfd ofJiteclofs noneof tim dllfeCtlrl is rIftSC(llaJtfed as plO~hll) from
heilJgappointedas J ditelltot III terlilllofSeciion 1MCZ)oftlieAct
(fj the cPtllpany hasatJ~~l)fe itteilil~iiiiiMcihjoontrllrs systemilJ p1liCeamther~ s J)l
operatingeffiletivene~idt1i~ncb llci~rtlol~ Atep6rigiviJB~F Icent$Pti1sibltlties lind llpinlQ blls _ - Igt
bilillt ailllexedltetewlth
fllf lWt1i~r~J1ltot to middotthe utllet matters to b~ mrtludeli inthe Auditrs Replll ill aCcQtdllnce with
l1llliN 1iNheCotnpanies(A~dit lIl1d AuntQ~) Rules 2bJ 4 inOUl opinion ana tllltl stof
l1IurtnfOlltlllliM lIhdaCcotdingio the oxplanatiQJls given to15
NCQ
2~amarpilrj~6 Harj~~~~ CoIQny RaC1icr~urse Circle Vadodaramiddot 300 015 rel(P6S) ~~31OM f~(02Qamp)235 416$ ~ail shalijillllllvfgil8iIiCOm
10 The Companyhas alSclo~eil tire hqpad of penaiqg litigatlGos OR Itsflnanelalpositk n ill itsfincialslatCi1ielts
JiIM Clnrp~)lYllas mlldeprllVisll)lltefllkediindeF tbellPpjjqlltllll llI-W Q1 llOOOn tiPg s~ll1dlllds teurolt material foreseeable lasses If any on longcentermcootracls lnclu ing dilvtluve e6lltrtlcentts
iiL The~e has beeIoodellly ill ttamp11sferrlttgltIoQllts 1elulredW be ttallsfeueltl td riiYest~r Edullatliln arrd IllilckmFllldbythe Company
the
(If 1IlXlaquo$$1UJ -Ite iiMilil1bi1
FORShah Sanglvi amp C bull (Charter-ed ACcIUlltantsi
RegN~tOIl794W
JlT~l[AB nlpiietor
rvtNlI 014()~l
J ll$IdAIi IJLJ~bullF~iA
11
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bull
J Po S1-lAI-l MJQ(l W~SbullFQiA
~ ~~IpW[l ~ Hari~il~W~JonyRaCllCou(SeCiIClllYsQlllra ~O MS ~~11~~Eli) tlii il~FIl~laquo~aa5) 235 4Sas bullEn1aijlsh~h$OgtlyiQmiljlilgt9if1
ANNEXURE TO Tm INallt)PENJ)ENT AUDJ[ON~S REPORT OF E~N frATE ON T1tEPiNANC1AL Si1AJIEMENT OJ CQIlAL LABORATORIES LrDAS ON 31st MARCIUtJ16
klll0rtontheinteJinliLflnllinllflrl coofttolsnntbllclause(j ofsob ~Icenttlon3middotr
Selltlllll14SorflrceompanicllAcentt2013 (IUe Act)
fo ihe mllmhers oicQr1 hJlgtorlltories Ltd Wiellaeauditedthe tnternll 1JUlI1Qial cQ1trGlsoVltlr fl1lllt~illil repCireil1g0f SIrtlle bra aho_orills Ltd (IeC()l)lPll11Y)as of Mith 3J2~ltJ itt il0~llJ1etitl1fwith onf aUdit 0middot the stanillilonefl]jaoc~lllstlltemtlntQflheCompaJY foJfttte Jllar endedontlWi date
MilllliJlllmelts resPQDsildUty pound01 internal financiaconltrols TheG()nlpanis Managemllnt is responsible fQr estahishlngmiddotand maintaining infernal fi cial COOtl018 based 911 the ~l1tll~ltar CQl1tfetI over tltll~ncent1a1 te~Ql1iitig ctiteril established by the centomp~yenc(m~qeringtbl ~ss(1)tillmiddotc)mPQitents of iotefllltl contl~Ql Stated intlte iJuidaftce middotote on Audit of Internal i1il1Ji1Jlll Cpl1trolsmiddot Oyer Financial RepJfilng issued hy the lwtitut Of Chartered ~CCOUl1tJil1sOfln~Ha Thllse responsihillties include the aesigj itliplernet1tatiooand maintenance Qfldegu~tll illteliDlIl tinancillleontrol~ that were Ii1perafing effilctivtll) poundor ens ring lh~ mdlir~y amJ e$(llilentean1gcfoflts business includlngadherettce to 1iIle C(it11pam~s polies th~$ilfegijarltt~gQfits a~~tslhePreventiQl)and ihttTllltion oJftaudand errors theatollr and GomplltWs$ Iilf tlte accounting records aliittimelyprepamtion oftellllble nf1andial informa on ll r~llllt~tl lIltl~r The Oornpanies Act2913
~
OUtt~pQMI])i1I~~ is to express-an opinion 01) the JQIJiI1mys tnternaltinancilt ellfittQI~ Iiet financllil tcentlloltillg based-on ()l1rjl~lt We condl~ed olltalllit in accordance with tire Gnld ee Noteon Audit of1lntemalllnllnllttlcentonttoJ~ Over FiMncial RePiltiing (nthll Ollidimell 11 tel) and the Standlttrds 01) Audltingls sp(cifiedurrder section tfpGaQ~of Campanili A~ ZOl ttl the el(tentapp1icable lOan 1I1141t lfl1tetnaI tinancial contrllls hothiapp1icahttl to anaudit of t~(lTIaJFinanciaICmttols G-poth Issued by theIllstftote (lfGhlllftetedaceoulttants of dia thoswStlDdar~s 1ll14 6t11qlIDee bil~te require that we cornjiiy wUll ethielil tequiremens and Ian Mdpetlftrm the audit tJJ obt~in r~llSPlnbleassutanee middotabolltihefFtet adequate itttetnal flnlleial co(lttols 1yenerlnajlcialtePotiingwlliScentsJIj))lfsAeGland ntail1tllined 1I11cli Ifsuch controlsape ated middoteffectlvelY in all material respects
bull
JPSHAH(fmiddot~)Shah Sanghviamp CQ Mmiddot mLL8FYiAy eHA~TSfe[) Al)C~lJJrtilTANTa
-bullbull4
2~$lIfl1atllllh 21lJitalibhaktMjiJlo~ lilacs CdUi1Iflltliltle Vadodaramiddot 390015 rr(oZ6s1l337Q6t middotF(0265) 235 4388E~it shahlllllghvllillgma)1lXll)l
Durandft l1Vollrlls perlbtltting procedures to obtliln alildit evidcentnee abaJlJ tbe acleqpllCY f the I itiUltnal firtaMlill eorlttols systemover fin~noialreJlottlgnl Ilifir ape~qtingetfeQtlvllrjegt bull Our IIIUt of ititerl1idfJfI~~laJ controls overflnanclalepol(ipg iPgl~ed QPtainlng an un(lluSt nding of lltetnli flltllclltl 0001t61 crVllt fiMiclalreponingilssesslng the llsl fuafil mater]we less I exists and testlll~ and evaluatln~ the design and Qperllting effeclveness ofimernlgonirol hasell I
filn the assessed risk Ihe procedures selected dllpenlt em ~eaudi~ts J1Icgtnent iMlqillg the 1 tassessmentofthe risks otmaterMmisstat~bJ~nt oftlteltnregelal$at(lfllenIS WletJ1~rd1letl fiadd [
ererrors I Ii
r IWe helieve that iheatldit eyjrlencewe have Qbtaineil issuff1cientan~jj~grl1ptiate to prli idfla
basisrOT OUT audit opinion on till )I)teQlJl fhllmda gont~ols systemllVeTtlnaneial feporling
MeanlJlgofinternl IanelillCQltr01QyerUl1llJlliat rlpllrting
A cOfupanYs lltel1l1al gullnollli lt)l1tQloyer ltmUcialreportlng isaprocess designed til pr vid reasonableessuranee regardlng the relilibJHty of fluanel] repottng and the preparati It M finanelal sratllllli)mts formiddot~tlrnal p~rposes Inllcllordanee wlthgenellllly llcentcentepted aeeou tlll8 pdnclple) AcompallYs intllmatiinaneiaJ control overnnllnoilll rep0riihll inclUdes tliose po id~s mid ~Qcedures thllt (I peJtllhl to tile iUlll)teltMPe Qfrecouds that ill reasonable tail lccllrately and fair]y remet thetransll1ltions and 1iispOsi~ins of the assets of the company] (2) pO~tde reasonable assuranee thattransaptions arereeetded llsneeeSsaxy to pei1tilit preparllti n of fiallllcentlalc statement in lIiCetltdlnce With gellera115aecepted acootlJitingprineipIes and tltat re~Pts ltutA eXlllndltnres ofthe company arebeingmMeoily ifiaecordaRee with eutheriza lOt$ ofmMagemetrt and directors iJFthe eomgtlllyand (3~ providereaslilnahle assnrance rllla liP$ p(llveltdon 0rtimely detectlQrtof unauthorleedacqulsitionuse oedlspositlon of tbe CQltlp nys assenrthal eouldhave ltiltatllriaeffebton thefihailltlialSlatemenls
Because of the Inherent litnitalion of internal filmnci alIlQIWrols over finan(lt rltpoct1g inolllaittll lJIe possibilitY at collusion or ~mpropet lUanag~1lwrioyenel1ViltteQf cllntrltilil mat rilll mlsstatement$dge tll IJTOforfrlludmayoccuraniltr()1 bed~teQjtelJ AIsli11 projections pi any evailuatioI) of the intemaltrtln9i~rcol~olsYOllr1tllancMrep0rdngtofilttlr~ period are subJe t til the risk Pqlt the lntemllF flnMiiaIQQt1tt61nVerfiflalloiaF repotlfng may become lnade-ate l1eellllseof chaflges lnQQilcrlflqnS~ or Hit tile degJee of co1tlitianClgt with (he poltcie or prQQurcentsmalideteri0tale
JP SHAH MC(i bull I~ajFcoA~1~~~~~
2imiddot~tpln- 26 HMbMkfjCoIQlYjRilceQ()~ClIciQ VadQdara- 390 015 fel1(O~651 ts~ 7064 F~(1126~)235 4356- E(tIll1l shlih$lll1llhvlgmaiillQm
ItlotlXQpittiell tbeC(itlf~aoy has ili~Lrnraterial respeetsen adiJqual1l internal financlllloQt1 ~ystetnltlYer fihattclllL riepo~llgandSUllltnte~111Jl fll1ancial cDntroSoftll UnatlClalre~ottlnll operlltinlplffutlvely- asmiddotlitMargb 312016 based ontheInternal conlJtdl overll11aileililrtpe jr i1titcrlilllsliWlisled IPY tpeCpmpllllY considerlng the esSehtialcompilmnts oflfittmalconttol stated ill theGUidanceNpteQll A~ldlt l)flntemaIFmanoiliIContrQIs Ovw IFIllanelal Bilil1ortin issued h)itbl Tnstitute QfQllatterelif Accountants OfIhdia
Fo~ urd on pehalf of SBAll SANtillV AND COMPANyen ClIAJIXpoundRED ACCOUNTiNTS leAl RlJGNO 0109794W
~
Jl~ Propriefot MNOI034010 DAtH JUI
) May 2016 PtAC1iMlItnblli
bull
Jbull p SHAH M middotornLL~ bullbulljCA
2Siimllliall~~ H~rQhiiiill Colony Rll1icento~l$eCirle Vadodall~gO~le rettB26~ ~33 1~-~iIK(if265j2354386 -Email shahsanghvigmaJfcolII
(ltW~tlii1l tl1 inabOYllttlte 1lu(jitQrSi repenofeven dateto tbe J)lcentrtrberso CORAL LAJ30RAOmES LJMl1EDoillne fJlancentjlll$tiitetnllnt~ 10theyear ended 3102016)
1 (Ili)TlIeiZOmpEllJY hallmaintairted PrQper records showilrg ttIl patliieulllsihelual Iii qllllti~lie lt1eWrsand $ltu~tmnQfFhled Assets
(b1 1lllt~ml~ets hll5ic b~nphysi~aIIverified by thel11anllgelilent at teasnnilil intervals No mllte1lll1dJScentrcIlllti9ies werenmmed onSlich verlfiGlftion
(Q~ Inourqpilliouaml apcoclIhgtotlte ufol1matian andexplanationgiven to us th titled~ds of immovable properties are held in the nameofthecomp41lY
ii Plilystcalvtlilneatiol1 ofInventoryhas beeneondqcjedat reasoMbe ntetliaI by managcentli~lit i
ilhdno D)llrerMldisetepllnPw WrenotilleaOI1swelvcdficatlon
m kltpcptding tothe illf01Qlatkm and exptAAatilln given to IIgt theltompltlyen hM 11llgtlltltel ~y
lolllS secured or lnSee1lfed to ~llml1anleS flttfisUmited liahilitY IJ_erlll1ipsootnlf ~arties covered lre~lsternlaltttlaquoineil ~s 189 afthemiddotAct I rti view qf the ilhcfVe prqvlsiQls of clause 3 (iii) (1t)GD) and 0) are tOt llPpJeable to the IcollJlany I
iiV Inlllllotiblbn EIlJd lcent(Ij)tlmg to tnfprtrfatiPltliftd eXlfl1l8U0l1sglVeii tqJ~fbelll pany lJilll in
respeot ot IIlllaS flJltes1ltiilentsgualantees and secUfty prolvlsI0lils l)Qmpliedwith s tlQraquo 1783 and sectlonl116 oil1he Cllrnpanics Act El013
v J1lording totliliWfol1l1~tiQlJandexplanatiangiVeinp ulI the CltWIpany htls not eeepterl IlnY
III QepQsitsIIencethe jprcvlsioilsofclause S(II lUe notappllcableto the company
Wi hlloyenelioAdly tevleyltlithcent bollkSlgtpound acentcentPllllts maintained py hilc0mpanyp ampiJool to the j rule~ made by theCenmlaquoi J3QVllmment of India Themaintenance ofcost reco (Is has beep II ptelicdveduls t411(j) of l~e Act anq We lUeof the qpim1l) that primaflcil tIt 1ll1eseribed
alllloUlilts llItllreeords navcentbeen made anilihaintafneQ Wemiddot middothavetrot hOWllYer eadlltaiecl eliiUiflfilltionQftherecords Withayenlew t1deiennllleWllitthlj they are ilCCllratetit co pllt~
ViL (lJ) AeeQOOing to the OQoyenstlid Je~otds ~produeed aildegtltlU1linedby Usin l1ord41loe With ~lIetmlyen~llted AudltfrlgPta411ceslnJndi1J lihd ilsQmanagemeht representation unQis)Iuwd statiltQqdu~s intespe~ of lrovfdentlbnd lemwloyees Sfatelnsmilnce lneltgttne t SilWs tax Se~leela)(CUjtotfi d~~ ~xillseifaJY Vii1tlekiaed fax CeSSllnd ltlth materialsl qtoty dues ilppliealiiletaithas beelilXegularly depositeClwithaiproptiate authorities
--------------------- -__--------~_I
J PSHAH Me mLUtFcA
2middotSamarpltlnmiddot~aililad~~lIli Colony RllceCou~ ClrclQVadodarimiddot390Qt5 Tel(Q26S)2iMOalt Faxi(O~e5)23S~B6 middotErniJil Shahsar9hVigmailrom
~tl AccQrlingto the records of the company the disputed dues in respectofexc] e dutyof Rs ~8$i ls ~re~i())illi YeartslS561acs)setvicetax Rs nil (preYousyeal Rsnit) and sales tax Rsml ~rIlV1U~ ~emiddotat RJgti lil) income tax as nilprevions year Rs nil ) as at TIiar h 3 I 2016 hallenlll heen deposited WiiiliL appropriate authorities ilrtcl no prevision has been made for the same
St Nmueof fue Name of Amount Peded to which the FomID where 11(jmiddot istatllteJJlleSmiddot ~Si in ameunt relates dispute is pellding
Lacs) OfJ)he centrl1 tIQi~c IS56 2(Olmiddot032003middotQ4 Ik SUptCU1e centbm
ElIcentise~ct t944 tgtuti 200405 iMewDIl11 I _
]houtQPinioll and acoofilittg to theinformatlon andellplanatigifgJYcn tous anlil tbllljoolt$of acebunts Verified by us the company has not4et1lllt~ in liepa~tllnt of dll t~ tIJfanciil1 instit1ltQnbarik((joVCll11llllnf 01 dues to tebenwe hold~
is llet iufilrrnaijlJugivln to usno 1111IneywaSnilsedibY way 0-pound initiaipubfieoller orfurther i J1ll1ilfcentofe~ (in~Iuclingdebt lnstfuments) No term loaasarelfliseobiy thecompafiy duxillfl the
-1 year
amp Durittgtlie ceurse ofour ~xarniWltlonQtbotisiofacCOJIDt~olnrled in acentcentordte with tb~ Olltetaly Aqcepted Al1diting Standards 1m IJldi~ wehll~e nllther (jl1me lI(rossmiddot InstlWice lf fraud on er h~ the oompany either noticed er repotied dmng the year nor 11 ~iVewe been Il1formed ofampuch lease-by themanagemetit
xi Acent~9r4ng to int9rrntttlOn and elltpIanatlon g1VIltto U$ and ltbcent books ilpound acoilitts ~~finlamp b~middotI1lS the mnnagerlllfrettlJIDeratlonhl becn pard pr pr()~idel incompliance With SeetiQn97 readwith Schedute Vto theCompanies Act 2019
Thecompany is nota Nidhi company hence th~ prQli~~OIli cr$ lJaUl111 3(xli)aIlnQt alJPiil)aamplil to the Cqmpany
xiii All transactians with Jh~ related PaJtties ate incol[fp-liancj wi~h seetion t77 and 1880pound -Companies Act 2013WIJcenttcent appIii1ajfe and the details haYe been disclosed 11 he 1fillcillii Statements etc as required hytheapplicableaceountingstoodards
x~v According to infermation-and explanatlon given tlJ Wland the lJQdks ofaccounts j etified by us the company dutifigtheW~lthaSlilJtlllade an preietefitill1 liflbt1tlent orprivate plementqf shares or fully or partIlbdiverti1ile debentures ieJ1l tl1lprovicention Qfclavse $ xht) are tot apptlCllheto companies
xv According to inforrnati0lande~Illanationgiven tous and the bQoksofaOcliUbts elffied by us the rompany has not epteted into any noncashtrensacticn withditelt0rs ot perijl) seomrcct64 Iwithit I
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~1l~11l~Pll Z$iJ(aribhakti CQlony Ra~Cdurs~ CirCle adooara-390 InS Tel(O$61 233 7~jax(Qaa5) z~54aaa E-ltiali shahsai1Jhvfg01aiIOOil
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FOR $hilr$llughviampCo (Clill~ered AeeQUUital1ts) ~~g No~r09794W
JISHAlt (IttlprietoF) Menihel1~)dJI NQ Q3461O
The ltompatly is Wilt req)1ired to be regl~tered 1Jniiletseetlo 4SrAllfthe Re~elVe
JP$tfAH m LIltECA
ank onndfa
NCQ
2~amarpilrj~6 Harj~~~~ CoIQny RaC1icr~urse Circle Vadodaramiddot 300 015 rel(P6S) ~~31OM f~(02Qamp)235 416$ ~ail shalijillllllvfgil8iIiCOm
10 The Companyhas alSclo~eil tire hqpad of penaiqg litigatlGos OR Itsflnanelalpositk n ill itsfincialslatCi1ielts
JiIM Clnrp~)lYllas mlldeprllVisll)lltefllkediindeF tbellPpjjqlltllll llI-W Q1 llOOOn tiPg s~ll1dlllds teurolt material foreseeable lasses If any on longcentermcootracls lnclu ing dilvtluve e6lltrtlcentts
iiL The~e has beeIoodellly ill ttamp11sferrlttgltIoQllts 1elulredW be ttallsfeueltl td riiYest~r Edullatliln arrd IllilckmFllldbythe Company
the
(If 1IlXlaquo$$1UJ -Ite iiMilil1bi1
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~ ~~IpW[l ~ Hari~il~W~JonyRaCllCou(SeCiIClllYsQlllra ~O MS ~~11~~Eli) tlii il~FIl~laquo~aa5) 235 4Sas bullEn1aijlsh~h$OgtlyiQmiljlilgt9if1
ANNEXURE TO Tm INallt)PENJ)ENT AUDJ[ON~S REPORT OF E~N frATE ON T1tEPiNANC1AL Si1AJIEMENT OJ CQIlAL LABORATORIES LrDAS ON 31st MARCIUtJ16
klll0rtontheinteJinliLflnllinllflrl coofttolsnntbllclause(j ofsob ~Icenttlon3middotr
Selltlllll14SorflrceompanicllAcentt2013 (IUe Act)
fo ihe mllmhers oicQr1 hJlgtorlltories Ltd Wiellaeauditedthe tnternll 1JUlI1Qial cQ1trGlsoVltlr fl1lllt~illil repCireil1g0f SIrtlle bra aho_orills Ltd (IeC()l)lPll11Y)as of Mith 3J2~ltJ itt il0~llJ1etitl1fwith onf aUdit 0middot the stanillilonefl]jaoc~lllstlltemtlntQflheCompaJY foJfttte Jllar endedontlWi date
MilllliJlllmelts resPQDsildUty pound01 internal financiaconltrols TheG()nlpanis Managemllnt is responsible fQr estahishlngmiddotand maintaining infernal fi cial COOtl018 based 911 the ~l1tll~ltar CQl1tfetI over tltll~ncent1a1 te~Ql1iitig ctiteril established by the centomp~yenc(m~qeringtbl ~ss(1)tillmiddotc)mPQitents of iotefllltl contl~Ql Stated intlte iJuidaftce middotote on Audit of Internal i1il1Ji1Jlll Cpl1trolsmiddot Oyer Financial RepJfilng issued hy the lwtitut Of Chartered ~CCOUl1tJil1sOfln~Ha Thllse responsihillties include the aesigj itliplernet1tatiooand maintenance Qfldegu~tll illteliDlIl tinancillleontrol~ that were Ii1perafing effilctivtll) poundor ens ring lh~ mdlir~y amJ e$(llilentean1gcfoflts business includlngadherettce to 1iIle C(it11pam~s polies th~$ilfegijarltt~gQfits a~~tslhePreventiQl)and ihttTllltion oJftaudand errors theatollr and GomplltWs$ Iilf tlte accounting records aliittimelyprepamtion oftellllble nf1andial informa on ll r~llllt~tl lIltl~r The Oornpanies Act2913
~
OUtt~pQMI])i1I~~ is to express-an opinion 01) the JQIJiI1mys tnternaltinancilt ellfittQI~ Iiet financllil tcentlloltillg based-on ()l1rjl~lt We condl~ed olltalllit in accordance with tire Gnld ee Noteon Audit of1lntemalllnllnllttlcentonttoJ~ Over FiMncial RePiltiing (nthll Ollidimell 11 tel) and the Standlttrds 01) Audltingls sp(cifiedurrder section tfpGaQ~of Campanili A~ ZOl ttl the el(tentapp1icable lOan 1I1141t lfl1tetnaI tinancial contrllls hothiapp1icahttl to anaudit of t~(lTIaJFinanciaICmttols G-poth Issued by theIllstftote (lfGhlllftetedaceoulttants of dia thoswStlDdar~s 1ll14 6t11qlIDee bil~te require that we cornjiiy wUll ethielil tequiremens and Ian Mdpetlftrm the audit tJJ obt~in r~llSPlnbleassutanee middotabolltihefFtet adequate itttetnal flnlleial co(lttols 1yenerlnajlcialtePotiingwlliScentsJIj))lfsAeGland ntail1tllined 1I11cli Ifsuch controlsape ated middoteffectlvelY in all material respects
bull
JPSHAH(fmiddot~)Shah Sanghviamp CQ Mmiddot mLL8FYiAy eHA~TSfe[) Al)C~lJJrtilTANTa
-bullbull4
2~$lIfl1atllllh 21lJitalibhaktMjiJlo~ lilacs CdUi1Iflltliltle Vadodaramiddot 390015 rr(oZ6s1l337Q6t middotF(0265) 235 4388E~it shahlllllghvllillgma)1lXll)l
Durandft l1Vollrlls perlbtltting procedures to obtliln alildit evidcentnee abaJlJ tbe acleqpllCY f the I itiUltnal firtaMlill eorlttols systemover fin~noialreJlottlgnl Ilifir ape~qtingetfeQtlvllrjegt bull Our IIIUt of ititerl1idfJfI~~laJ controls overflnanclalepol(ipg iPgl~ed QPtainlng an un(lluSt nding of lltetnli flltllclltl 0001t61 crVllt fiMiclalreponingilssesslng the llsl fuafil mater]we less I exists and testlll~ and evaluatln~ the design and Qperllting effeclveness ofimernlgonirol hasell I
filn the assessed risk Ihe procedures selected dllpenlt em ~eaudi~ts J1Icgtnent iMlqillg the 1 tassessmentofthe risks otmaterMmisstat~bJ~nt oftlteltnregelal$at(lfllenIS WletJ1~rd1letl fiadd [
ererrors I Ii
r IWe helieve that iheatldit eyjrlencewe have Qbtaineil issuff1cientan~jj~grl1ptiate to prli idfla
basisrOT OUT audit opinion on till )I)teQlJl fhllmda gont~ols systemllVeTtlnaneial feporling
MeanlJlgofinternl IanelillCQltr01QyerUl1llJlliat rlpllrting
A cOfupanYs lltel1l1al gullnollli lt)l1tQloyer ltmUcialreportlng isaprocess designed til pr vid reasonableessuranee regardlng the relilibJHty of fluanel] repottng and the preparati It M finanelal sratllllli)mts formiddot~tlrnal p~rposes Inllcllordanee wlthgenellllly llcentcentepted aeeou tlll8 pdnclple) AcompallYs intllmatiinaneiaJ control overnnllnoilll rep0riihll inclUdes tliose po id~s mid ~Qcedures thllt (I peJtllhl to tile iUlll)teltMPe Qfrecouds that ill reasonable tail lccllrately and fair]y remet thetransll1ltions and 1iispOsi~ins of the assets of the company] (2) pO~tde reasonable assuranee thattransaptions arereeetded llsneeeSsaxy to pei1tilit preparllti n of fiallllcentlalc statement in lIiCetltdlnce With gellera115aecepted acootlJitingprineipIes and tltat re~Pts ltutA eXlllndltnres ofthe company arebeingmMeoily ifiaecordaRee with eutheriza lOt$ ofmMagemetrt and directors iJFthe eomgtlllyand (3~ providereaslilnahle assnrance rllla liP$ p(llveltdon 0rtimely detectlQrtof unauthorleedacqulsitionuse oedlspositlon of tbe CQltlp nys assenrthal eouldhave ltiltatllriaeffebton thefihailltlialSlatemenls
Because of the Inherent litnitalion of internal filmnci alIlQIWrols over finan(lt rltpoct1g inolllaittll lJIe possibilitY at collusion or ~mpropet lUanag~1lwrioyenel1ViltteQf cllntrltilil mat rilll mlsstatement$dge tll IJTOforfrlludmayoccuraniltr()1 bed~teQjtelJ AIsli11 projections pi any evailuatioI) of the intemaltrtln9i~rcol~olsYOllr1tllancMrep0rdngtofilttlr~ period are subJe t til the risk Pqlt the lntemllF flnMiiaIQQt1tt61nVerfiflalloiaF repotlfng may become lnade-ate l1eellllseof chaflges lnQQilcrlflqnS~ or Hit tile degJee of co1tlitianClgt with (he poltcie or prQQurcentsmalideteri0tale
JP SHAH MC(i bull I~ajFcoA~1~~~~~
2imiddot~tpln- 26 HMbMkfjCoIQlYjRilceQ()~ClIciQ VadQdara- 390 015 fel1(O~651 ts~ 7064 F~(1126~)235 4356- E(tIll1l shlih$lll1llhvlgmaiillQm
ItlotlXQpittiell tbeC(itlf~aoy has ili~Lrnraterial respeetsen adiJqual1l internal financlllloQt1 ~ystetnltlYer fihattclllL riepo~llgandSUllltnte~111Jl fll1ancial cDntroSoftll UnatlClalre~ottlnll operlltinlplffutlvely- asmiddotlitMargb 312016 based ontheInternal conlJtdl overll11aileililrtpe jr i1titcrlilllsliWlisled IPY tpeCpmpllllY considerlng the esSehtialcompilmnts oflfittmalconttol stated ill theGUidanceNpteQll A~ldlt l)flntemaIFmanoiliIContrQIs Ovw IFIllanelal Bilil1ortin issued h)itbl Tnstitute QfQllatterelif Accountants OfIhdia
Fo~ urd on pehalf of SBAll SANtillV AND COMPANyen ClIAJIXpoundRED ACCOUNTiNTS leAl RlJGNO 0109794W
~
Jl~ Propriefot MNOI034010 DAtH JUI
) May 2016 PtAC1iMlItnblli
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2Siimllliall~~ H~rQhiiiill Colony Rll1icento~l$eCirle Vadodall~gO~le rettB26~ ~33 1~-~iIK(if265j2354386 -Email shahsanghvigmaJfcolII
(ltW~tlii1l tl1 inabOYllttlte 1lu(jitQrSi repenofeven dateto tbe J)lcentrtrberso CORAL LAJ30RAOmES LJMl1EDoillne fJlancentjlll$tiitetnllnt~ 10theyear ended 3102016)
1 (Ili)TlIeiZOmpEllJY hallmaintairted PrQper records showilrg ttIl patliieulllsihelual Iii qllllti~lie lt1eWrsand $ltu~tmnQfFhled Assets
(b1 1lllt~ml~ets hll5ic b~nphysi~aIIverified by thel11anllgelilent at teasnnilil intervals No mllte1lll1dJScentrcIlllti9ies werenmmed onSlich verlfiGlftion
(Q~ Inourqpilliouaml apcoclIhgtotlte ufol1matian andexplanationgiven to us th titled~ds of immovable properties are held in the nameofthecomp41lY
ii Plilystcalvtlilneatiol1 ofInventoryhas beeneondqcjedat reasoMbe ntetliaI by managcentli~lit i
ilhdno D)llrerMldisetepllnPw WrenotilleaOI1swelvcdficatlon
m kltpcptding tothe illf01Qlatkm and exptAAatilln given to IIgt theltompltlyen hM 11llgtlltltel ~y
lolllS secured or lnSee1lfed to ~llml1anleS flttfisUmited liahilitY IJ_erlll1ipsootnlf ~arties covered lre~lsternlaltttlaquoineil ~s 189 afthemiddotAct I rti view qf the ilhcfVe prqvlsiQls of clause 3 (iii) (1t)GD) and 0) are tOt llPpJeable to the IcollJlany I
iiV Inlllllotiblbn EIlJd lcent(Ij)tlmg to tnfprtrfatiPltliftd eXlfl1l8U0l1sglVeii tqJ~fbelll pany lJilll in
respeot ot IIlllaS flJltes1ltiilentsgualantees and secUfty prolvlsI0lils l)Qmpliedwith s tlQraquo 1783 and sectlonl116 oil1he Cllrnpanics Act El013
v J1lording totliliWfol1l1~tiQlJandexplanatiangiVeinp ulI the CltWIpany htls not eeepterl IlnY
III QepQsitsIIencethe jprcvlsioilsofclause S(II lUe notappllcableto the company
Wi hlloyenelioAdly tevleyltlithcent bollkSlgtpound acentcentPllllts maintained py hilc0mpanyp ampiJool to the j rule~ made by theCenmlaquoi J3QVllmment of India Themaintenance ofcost reco (Is has beep II ptelicdveduls t411(j) of l~e Act anq We lUeof the qpim1l) that primaflcil tIt 1ll1eseribed
alllloUlilts llItllreeords navcentbeen made anilihaintafneQ Wemiddot middothavetrot hOWllYer eadlltaiecl eliiUiflfilltionQftherecords Withayenlew t1deiennllleWllitthlj they are ilCCllratetit co pllt~
ViL (lJ) AeeQOOing to the OQoyenstlid Je~otds ~produeed aildegtltlU1linedby Usin l1ord41loe With ~lIetmlyen~llted AudltfrlgPta411ceslnJndi1J lihd ilsQmanagemeht representation unQis)Iuwd statiltQqdu~s intespe~ of lrovfdentlbnd lemwloyees Sfatelnsmilnce lneltgttne t SilWs tax Se~leela)(CUjtotfi d~~ ~xillseifaJY Vii1tlekiaed fax CeSSllnd ltlth materialsl qtoty dues ilppliealiiletaithas beelilXegularly depositeClwithaiproptiate authorities
--------------------- -__--------~_I
J PSHAH Me mLUtFcA
2middotSamarpltlnmiddot~aililad~~lIli Colony RllceCou~ ClrclQVadodarimiddot390Qt5 Tel(Q26S)2iMOalt Faxi(O~e5)23S~B6 middotErniJil Shahsar9hVigmailrom
~tl AccQrlingto the records of the company the disputed dues in respectofexc] e dutyof Rs ~8$i ls ~re~i())illi YeartslS561acs)setvicetax Rs nil (preYousyeal Rsnit) and sales tax Rsml ~rIlV1U~ ~emiddotat RJgti lil) income tax as nilprevions year Rs nil ) as at TIiar h 3 I 2016 hallenlll heen deposited WiiiliL appropriate authorities ilrtcl no prevision has been made for the same
St Nmueof fue Name of Amount Peded to which the FomID where 11(jmiddot istatllteJJlleSmiddot ~Si in ameunt relates dispute is pellding
Lacs) OfJ)he centrl1 tIQi~c IS56 2(Olmiddot032003middotQ4 Ik SUptCU1e centbm
ElIcentise~ct t944 tgtuti 200405 iMewDIl11 I _
]houtQPinioll and acoofilittg to theinformatlon andellplanatigifgJYcn tous anlil tbllljoolt$of acebunts Verified by us the company has not4et1lllt~ in liepa~tllnt of dll t~ tIJfanciil1 instit1ltQnbarik((joVCll11llllnf 01 dues to tebenwe hold~
is llet iufilrrnaijlJugivln to usno 1111IneywaSnilsedibY way 0-pound initiaipubfieoller orfurther i J1ll1ilfcentofe~ (in~Iuclingdebt lnstfuments) No term loaasarelfliseobiy thecompafiy duxillfl the
-1 year
amp Durittgtlie ceurse ofour ~xarniWltlonQtbotisiofacCOJIDt~olnrled in acentcentordte with tb~ Olltetaly Aqcepted Al1diting Standards 1m IJldi~ wehll~e nllther (jl1me lI(rossmiddot InstlWice lf fraud on er h~ the oompany either noticed er repotied dmng the year nor 11 ~iVewe been Il1formed ofampuch lease-by themanagemetit
xi Acent~9r4ng to int9rrntttlOn and elltpIanatlon g1VIltto U$ and ltbcent books ilpound acoilitts ~~finlamp b~middotI1lS the mnnagerlllfrettlJIDeratlonhl becn pard pr pr()~idel incompliance With SeetiQn97 readwith Schedute Vto theCompanies Act 2019
Thecompany is nota Nidhi company hence th~ prQli~~OIli cr$ lJaUl111 3(xli)aIlnQt alJPiil)aamplil to the Cqmpany
xiii All transactians with Jh~ related PaJtties ate incol[fp-liancj wi~h seetion t77 and 1880pound -Companies Act 2013WIJcenttcent appIii1ajfe and the details haYe been disclosed 11 he 1fillcillii Statements etc as required hytheapplicableaceountingstoodards
x~v According to infermation-and explanatlon given tlJ Wland the lJQdks ofaccounts j etified by us the company dutifigtheW~lthaSlilJtlllade an preietefitill1 liflbt1tlent orprivate plementqf shares or fully or partIlbdiverti1ile debentures ieJ1l tl1lprovicention Qfclavse $ xht) are tot apptlCllheto companies
xv According to inforrnati0lande~Illanationgiven tous and the bQoksofaOcliUbts elffied by us the rompany has not epteted into any noncashtrensacticn withditelt0rs ot perijl) seomrcct64 Iwithit I
i i [
IImiddotbull
Ir
~
xvI
PIWCll Mumbai raquoatl lOYOStZill()
51 ~
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Shah Sanghvj ace CHARTe~EDACCOUNTANTS
~1l~11l~Pll Z$iJ(aribhakti CQlony Ra~Cdurs~ CirCle adooara-390 InS Tel(O$61 233 7~jax(Qaa5) z~54aaa E-ltiali shahsai1Jhvfg01aiIOOil
M e
~it 1934
FOR $hilr$llughviampCo (Clill~ered AeeQUUital1ts) ~~g No~r09794W
JISHAlt (IttlprietoF) Menihel1~)dJI NQ Q3461O
The ltompatly is Wilt req)1ired to be regl~tered 1Jniiletseetlo 4SrAllfthe Re~elVe
JP$tfAH m LIltECA
ank onndfa
J Po S1-lAI-l MJQ(l W~SbullFQiA
~ ~~IpW[l ~ Hari~il~W~JonyRaCllCou(SeCiIClllYsQlllra ~O MS ~~11~~Eli) tlii il~FIl~laquo~aa5) 235 4Sas bullEn1aijlsh~h$OgtlyiQmiljlilgt9if1
ANNEXURE TO Tm INallt)PENJ)ENT AUDJ[ON~S REPORT OF E~N frATE ON T1tEPiNANC1AL Si1AJIEMENT OJ CQIlAL LABORATORIES LrDAS ON 31st MARCIUtJ16
klll0rtontheinteJinliLflnllinllflrl coofttolsnntbllclause(j ofsob ~Icenttlon3middotr
Selltlllll14SorflrceompanicllAcentt2013 (IUe Act)
fo ihe mllmhers oicQr1 hJlgtorlltories Ltd Wiellaeauditedthe tnternll 1JUlI1Qial cQ1trGlsoVltlr fl1lllt~illil repCireil1g0f SIrtlle bra aho_orills Ltd (IeC()l)lPll11Y)as of Mith 3J2~ltJ itt il0~llJ1etitl1fwith onf aUdit 0middot the stanillilonefl]jaoc~lllstlltemtlntQflheCompaJY foJfttte Jllar endedontlWi date
MilllliJlllmelts resPQDsildUty pound01 internal financiaconltrols TheG()nlpanis Managemllnt is responsible fQr estahishlngmiddotand maintaining infernal fi cial COOtl018 based 911 the ~l1tll~ltar CQl1tfetI over tltll~ncent1a1 te~Ql1iitig ctiteril established by the centomp~yenc(m~qeringtbl ~ss(1)tillmiddotc)mPQitents of iotefllltl contl~Ql Stated intlte iJuidaftce middotote on Audit of Internal i1il1Ji1Jlll Cpl1trolsmiddot Oyer Financial RepJfilng issued hy the lwtitut Of Chartered ~CCOUl1tJil1sOfln~Ha Thllse responsihillties include the aesigj itliplernet1tatiooand maintenance Qfldegu~tll illteliDlIl tinancillleontrol~ that were Ii1perafing effilctivtll) poundor ens ring lh~ mdlir~y amJ e$(llilentean1gcfoflts business includlngadherettce to 1iIle C(it11pam~s polies th~$ilfegijarltt~gQfits a~~tslhePreventiQl)and ihttTllltion oJftaudand errors theatollr and GomplltWs$ Iilf tlte accounting records aliittimelyprepamtion oftellllble nf1andial informa on ll r~llllt~tl lIltl~r The Oornpanies Act2913
~
OUtt~pQMI])i1I~~ is to express-an opinion 01) the JQIJiI1mys tnternaltinancilt ellfittQI~ Iiet financllil tcentlloltillg based-on ()l1rjl~lt We condl~ed olltalllit in accordance with tire Gnld ee Noteon Audit of1lntemalllnllnllttlcentonttoJ~ Over FiMncial RePiltiing (nthll Ollidimell 11 tel) and the Standlttrds 01) Audltingls sp(cifiedurrder section tfpGaQ~of Campanili A~ ZOl ttl the el(tentapp1icable lOan 1I1141t lfl1tetnaI tinancial contrllls hothiapp1icahttl to anaudit of t~(lTIaJFinanciaICmttols G-poth Issued by theIllstftote (lfGhlllftetedaceoulttants of dia thoswStlDdar~s 1ll14 6t11qlIDee bil~te require that we cornjiiy wUll ethielil tequiremens and Ian Mdpetlftrm the audit tJJ obt~in r~llSPlnbleassutanee middotabolltihefFtet adequate itttetnal flnlleial co(lttols 1yenerlnajlcialtePotiingwlliScentsJIj))lfsAeGland ntail1tllined 1I11cli Ifsuch controlsape ated middoteffectlvelY in all material respects
bull
JPSHAH(fmiddot~)Shah Sanghviamp CQ Mmiddot mLL8FYiAy eHA~TSfe[) Al)C~lJJrtilTANTa
-bullbull4
2~$lIfl1atllllh 21lJitalibhaktMjiJlo~ lilacs CdUi1Iflltliltle Vadodaramiddot 390015 rr(oZ6s1l337Q6t middotF(0265) 235 4388E~it shahlllllghvllillgma)1lXll)l
Durandft l1Vollrlls perlbtltting procedures to obtliln alildit evidcentnee abaJlJ tbe acleqpllCY f the I itiUltnal firtaMlill eorlttols systemover fin~noialreJlottlgnl Ilifir ape~qtingetfeQtlvllrjegt bull Our IIIUt of ititerl1idfJfI~~laJ controls overflnanclalepol(ipg iPgl~ed QPtainlng an un(lluSt nding of lltetnli flltllclltl 0001t61 crVllt fiMiclalreponingilssesslng the llsl fuafil mater]we less I exists and testlll~ and evaluatln~ the design and Qperllting effeclveness ofimernlgonirol hasell I
filn the assessed risk Ihe procedures selected dllpenlt em ~eaudi~ts J1Icgtnent iMlqillg the 1 tassessmentofthe risks otmaterMmisstat~bJ~nt oftlteltnregelal$at(lfllenIS WletJ1~rd1letl fiadd [
ererrors I Ii
r IWe helieve that iheatldit eyjrlencewe have Qbtaineil issuff1cientan~jj~grl1ptiate to prli idfla
basisrOT OUT audit opinion on till )I)teQlJl fhllmda gont~ols systemllVeTtlnaneial feporling
MeanlJlgofinternl IanelillCQltr01QyerUl1llJlliat rlpllrting
A cOfupanYs lltel1l1al gullnollli lt)l1tQloyer ltmUcialreportlng isaprocess designed til pr vid reasonableessuranee regardlng the relilibJHty of fluanel] repottng and the preparati It M finanelal sratllllli)mts formiddot~tlrnal p~rposes Inllcllordanee wlthgenellllly llcentcentepted aeeou tlll8 pdnclple) AcompallYs intllmatiinaneiaJ control overnnllnoilll rep0riihll inclUdes tliose po id~s mid ~Qcedures thllt (I peJtllhl to tile iUlll)teltMPe Qfrecouds that ill reasonable tail lccllrately and fair]y remet thetransll1ltions and 1iispOsi~ins of the assets of the company] (2) pO~tde reasonable assuranee thattransaptions arereeetded llsneeeSsaxy to pei1tilit preparllti n of fiallllcentlalc statement in lIiCetltdlnce With gellera115aecepted acootlJitingprineipIes and tltat re~Pts ltutA eXlllndltnres ofthe company arebeingmMeoily ifiaecordaRee with eutheriza lOt$ ofmMagemetrt and directors iJFthe eomgtlllyand (3~ providereaslilnahle assnrance rllla liP$ p(llveltdon 0rtimely detectlQrtof unauthorleedacqulsitionuse oedlspositlon of tbe CQltlp nys assenrthal eouldhave ltiltatllriaeffebton thefihailltlialSlatemenls
Because of the Inherent litnitalion of internal filmnci alIlQIWrols over finan(lt rltpoct1g inolllaittll lJIe possibilitY at collusion or ~mpropet lUanag~1lwrioyenel1ViltteQf cllntrltilil mat rilll mlsstatement$dge tll IJTOforfrlludmayoccuraniltr()1 bed~teQjtelJ AIsli11 projections pi any evailuatioI) of the intemaltrtln9i~rcol~olsYOllr1tllancMrep0rdngtofilttlr~ period are subJe t til the risk Pqlt the lntemllF flnMiiaIQQt1tt61nVerfiflalloiaF repotlfng may become lnade-ate l1eellllseof chaflges lnQQilcrlflqnS~ or Hit tile degJee of co1tlitianClgt with (he poltcie or prQQurcentsmalideteri0tale
JP SHAH MC(i bull I~ajFcoA~1~~~~~
2imiddot~tpln- 26 HMbMkfjCoIQlYjRilceQ()~ClIciQ VadQdara- 390 015 fel1(O~651 ts~ 7064 F~(1126~)235 4356- E(tIll1l shlih$lll1llhvlgmaiillQm
ItlotlXQpittiell tbeC(itlf~aoy has ili~Lrnraterial respeetsen adiJqual1l internal financlllloQt1 ~ystetnltlYer fihattclllL riepo~llgandSUllltnte~111Jl fll1ancial cDntroSoftll UnatlClalre~ottlnll operlltinlplffutlvely- asmiddotlitMargb 312016 based ontheInternal conlJtdl overll11aileililrtpe jr i1titcrlilllsliWlisled IPY tpeCpmpllllY considerlng the esSehtialcompilmnts oflfittmalconttol stated ill theGUidanceNpteQll A~ldlt l)flntemaIFmanoiliIContrQIs Ovw IFIllanelal Bilil1ortin issued h)itbl Tnstitute QfQllatterelif Accountants OfIhdia
Fo~ urd on pehalf of SBAll SANtillV AND COMPANyen ClIAJIXpoundRED ACCOUNTiNTS leAl RlJGNO 0109794W
~
Jl~ Propriefot MNOI034010 DAtH JUI
) May 2016 PtAC1iMlItnblli
bull
Jbull p SHAH M middotornLL~ bullbulljCA
2Siimllliall~~ H~rQhiiiill Colony Rll1icento~l$eCirle Vadodall~gO~le rettB26~ ~33 1~-~iIK(if265j2354386 -Email shahsanghvigmaJfcolII
(ltW~tlii1l tl1 inabOYllttlte 1lu(jitQrSi repenofeven dateto tbe J)lcentrtrberso CORAL LAJ30RAOmES LJMl1EDoillne fJlancentjlll$tiitetnllnt~ 10theyear ended 3102016)
1 (Ili)TlIeiZOmpEllJY hallmaintairted PrQper records showilrg ttIl patliieulllsihelual Iii qllllti~lie lt1eWrsand $ltu~tmnQfFhled Assets
(b1 1lllt~ml~ets hll5ic b~nphysi~aIIverified by thel11anllgelilent at teasnnilil intervals No mllte1lll1dJScentrcIlllti9ies werenmmed onSlich verlfiGlftion
(Q~ Inourqpilliouaml apcoclIhgtotlte ufol1matian andexplanationgiven to us th titled~ds of immovable properties are held in the nameofthecomp41lY
ii Plilystcalvtlilneatiol1 ofInventoryhas beeneondqcjedat reasoMbe ntetliaI by managcentli~lit i
ilhdno D)llrerMldisetepllnPw WrenotilleaOI1swelvcdficatlon
m kltpcptding tothe illf01Qlatkm and exptAAatilln given to IIgt theltompltlyen hM 11llgtlltltel ~y
lolllS secured or lnSee1lfed to ~llml1anleS flttfisUmited liahilitY IJ_erlll1ipsootnlf ~arties covered lre~lsternlaltttlaquoineil ~s 189 afthemiddotAct I rti view qf the ilhcfVe prqvlsiQls of clause 3 (iii) (1t)GD) and 0) are tOt llPpJeable to the IcollJlany I
iiV Inlllllotiblbn EIlJd lcent(Ij)tlmg to tnfprtrfatiPltliftd eXlfl1l8U0l1sglVeii tqJ~fbelll pany lJilll in
respeot ot IIlllaS flJltes1ltiilentsgualantees and secUfty prolvlsI0lils l)Qmpliedwith s tlQraquo 1783 and sectlonl116 oil1he Cllrnpanics Act El013
v J1lording totliliWfol1l1~tiQlJandexplanatiangiVeinp ulI the CltWIpany htls not eeepterl IlnY
III QepQsitsIIencethe jprcvlsioilsofclause S(II lUe notappllcableto the company
Wi hlloyenelioAdly tevleyltlithcent bollkSlgtpound acentcentPllllts maintained py hilc0mpanyp ampiJool to the j rule~ made by theCenmlaquoi J3QVllmment of India Themaintenance ofcost reco (Is has beep II ptelicdveduls t411(j) of l~e Act anq We lUeof the qpim1l) that primaflcil tIt 1ll1eseribed
alllloUlilts llItllreeords navcentbeen made anilihaintafneQ Wemiddot middothavetrot hOWllYer eadlltaiecl eliiUiflfilltionQftherecords Withayenlew t1deiennllleWllitthlj they are ilCCllratetit co pllt~
ViL (lJ) AeeQOOing to the OQoyenstlid Je~otds ~produeed aildegtltlU1linedby Usin l1ord41loe With ~lIetmlyen~llted AudltfrlgPta411ceslnJndi1J lihd ilsQmanagemeht representation unQis)Iuwd statiltQqdu~s intespe~ of lrovfdentlbnd lemwloyees Sfatelnsmilnce lneltgttne t SilWs tax Se~leela)(CUjtotfi d~~ ~xillseifaJY Vii1tlekiaed fax CeSSllnd ltlth materialsl qtoty dues ilppliealiiletaithas beelilXegularly depositeClwithaiproptiate authorities
--------------------- -__--------~_I
J PSHAH Me mLUtFcA
2middotSamarpltlnmiddot~aililad~~lIli Colony RllceCou~ ClrclQVadodarimiddot390Qt5 Tel(Q26S)2iMOalt Faxi(O~e5)23S~B6 middotErniJil Shahsar9hVigmailrom
~tl AccQrlingto the records of the company the disputed dues in respectofexc] e dutyof Rs ~8$i ls ~re~i())illi YeartslS561acs)setvicetax Rs nil (preYousyeal Rsnit) and sales tax Rsml ~rIlV1U~ ~emiddotat RJgti lil) income tax as nilprevions year Rs nil ) as at TIiar h 3 I 2016 hallenlll heen deposited WiiiliL appropriate authorities ilrtcl no prevision has been made for the same
St Nmueof fue Name of Amount Peded to which the FomID where 11(jmiddot istatllteJJlleSmiddot ~Si in ameunt relates dispute is pellding
Lacs) OfJ)he centrl1 tIQi~c IS56 2(Olmiddot032003middotQ4 Ik SUptCU1e centbm
ElIcentise~ct t944 tgtuti 200405 iMewDIl11 I _
]houtQPinioll and acoofilittg to theinformatlon andellplanatigifgJYcn tous anlil tbllljoolt$of acebunts Verified by us the company has not4et1lllt~ in liepa~tllnt of dll t~ tIJfanciil1 instit1ltQnbarik((joVCll11llllnf 01 dues to tebenwe hold~
is llet iufilrrnaijlJugivln to usno 1111IneywaSnilsedibY way 0-pound initiaipubfieoller orfurther i J1ll1ilfcentofe~ (in~Iuclingdebt lnstfuments) No term loaasarelfliseobiy thecompafiy duxillfl the
-1 year
amp Durittgtlie ceurse ofour ~xarniWltlonQtbotisiofacCOJIDt~olnrled in acentcentordte with tb~ Olltetaly Aqcepted Al1diting Standards 1m IJldi~ wehll~e nllther (jl1me lI(rossmiddot InstlWice lf fraud on er h~ the oompany either noticed er repotied dmng the year nor 11 ~iVewe been Il1formed ofampuch lease-by themanagemetit
xi Acent~9r4ng to int9rrntttlOn and elltpIanatlon g1VIltto U$ and ltbcent books ilpound acoilitts ~~finlamp b~middotI1lS the mnnagerlllfrettlJIDeratlonhl becn pard pr pr()~idel incompliance With SeetiQn97 readwith Schedute Vto theCompanies Act 2019
Thecompany is nota Nidhi company hence th~ prQli~~OIli cr$ lJaUl111 3(xli)aIlnQt alJPiil)aamplil to the Cqmpany
xiii All transactians with Jh~ related PaJtties ate incol[fp-liancj wi~h seetion t77 and 1880pound -Companies Act 2013WIJcenttcent appIii1ajfe and the details haYe been disclosed 11 he 1fillcillii Statements etc as required hytheapplicableaceountingstoodards
x~v According to infermation-and explanatlon given tlJ Wland the lJQdks ofaccounts j etified by us the company dutifigtheW~lthaSlilJtlllade an preietefitill1 liflbt1tlent orprivate plementqf shares or fully or partIlbdiverti1ile debentures ieJ1l tl1lprovicention Qfclavse $ xht) are tot apptlCllheto companies
xv According to inforrnati0lande~Illanationgiven tous and the bQoksofaOcliUbts elffied by us the rompany has not epteted into any noncashtrensacticn withditelt0rs ot perijl) seomrcct64 Iwithit I
i i [
IImiddotbull
Ir
~
xvI
PIWCll Mumbai raquoatl lOYOStZill()
51 ~
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Shah Sanghvj ace CHARTe~EDACCOUNTANTS
~1l~11l~Pll Z$iJ(aribhakti CQlony Ra~Cdurs~ CirCle adooara-390 InS Tel(O$61 233 7~jax(Qaa5) z~54aaa E-ltiali shahsai1Jhvfg01aiIOOil
M e
~it 1934
FOR $hilr$llughviampCo (Clill~ered AeeQUUital1ts) ~~g No~r09794W
JISHAlt (IttlprietoF) Menihel1~)dJI NQ Q3461O
The ltompatly is Wilt req)1ired to be regl~tered 1Jniiletseetlo 4SrAllfthe Re~elVe
JP$tfAH m LIltECA
ank onndfa
JPSHAH(fmiddot~)Shah Sanghviamp CQ Mmiddot mLL8FYiAy eHA~TSfe[) Al)C~lJJrtilTANTa
-bullbull4
2~$lIfl1atllllh 21lJitalibhaktMjiJlo~ lilacs CdUi1Iflltliltle Vadodaramiddot 390015 rr(oZ6s1l337Q6t middotF(0265) 235 4388E~it shahlllllghvllillgma)1lXll)l
Durandft l1Vollrlls perlbtltting procedures to obtliln alildit evidcentnee abaJlJ tbe acleqpllCY f the I itiUltnal firtaMlill eorlttols systemover fin~noialreJlottlgnl Ilifir ape~qtingetfeQtlvllrjegt bull Our IIIUt of ititerl1idfJfI~~laJ controls overflnanclalepol(ipg iPgl~ed QPtainlng an un(lluSt nding of lltetnli flltllclltl 0001t61 crVllt fiMiclalreponingilssesslng the llsl fuafil mater]we less I exists and testlll~ and evaluatln~ the design and Qperllting effeclveness ofimernlgonirol hasell I
filn the assessed risk Ihe procedures selected dllpenlt em ~eaudi~ts J1Icgtnent iMlqillg the 1 tassessmentofthe risks otmaterMmisstat~bJ~nt oftlteltnregelal$at(lfllenIS WletJ1~rd1letl fiadd [
ererrors I Ii
r IWe helieve that iheatldit eyjrlencewe have Qbtaineil issuff1cientan~jj~grl1ptiate to prli idfla
basisrOT OUT audit opinion on till )I)teQlJl fhllmda gont~ols systemllVeTtlnaneial feporling
MeanlJlgofinternl IanelillCQltr01QyerUl1llJlliat rlpllrting
A cOfupanYs lltel1l1al gullnollli lt)l1tQloyer ltmUcialreportlng isaprocess designed til pr vid reasonableessuranee regardlng the relilibJHty of fluanel] repottng and the preparati It M finanelal sratllllli)mts formiddot~tlrnal p~rposes Inllcllordanee wlthgenellllly llcentcentepted aeeou tlll8 pdnclple) AcompallYs intllmatiinaneiaJ control overnnllnoilll rep0riihll inclUdes tliose po id~s mid ~Qcedures thllt (I peJtllhl to tile iUlll)teltMPe Qfrecouds that ill reasonable tail lccllrately and fair]y remet thetransll1ltions and 1iispOsi~ins of the assets of the company] (2) pO~tde reasonable assuranee thattransaptions arereeetded llsneeeSsaxy to pei1tilit preparllti n of fiallllcentlalc statement in lIiCetltdlnce With gellera115aecepted acootlJitingprineipIes and tltat re~Pts ltutA eXlllndltnres ofthe company arebeingmMeoily ifiaecordaRee with eutheriza lOt$ ofmMagemetrt and directors iJFthe eomgtlllyand (3~ providereaslilnahle assnrance rllla liP$ p(llveltdon 0rtimely detectlQrtof unauthorleedacqulsitionuse oedlspositlon of tbe CQltlp nys assenrthal eouldhave ltiltatllriaeffebton thefihailltlialSlatemenls
Because of the Inherent litnitalion of internal filmnci alIlQIWrols over finan(lt rltpoct1g inolllaittll lJIe possibilitY at collusion or ~mpropet lUanag~1lwrioyenel1ViltteQf cllntrltilil mat rilll mlsstatement$dge tll IJTOforfrlludmayoccuraniltr()1 bed~teQjtelJ AIsli11 projections pi any evailuatioI) of the intemaltrtln9i~rcol~olsYOllr1tllancMrep0rdngtofilttlr~ period are subJe t til the risk Pqlt the lntemllF flnMiiaIQQt1tt61nVerfiflalloiaF repotlfng may become lnade-ate l1eellllseof chaflges lnQQilcrlflqnS~ or Hit tile degJee of co1tlitianClgt with (he poltcie or prQQurcentsmalideteri0tale
JP SHAH MC(i bull I~ajFcoA~1~~~~~
2imiddot~tpln- 26 HMbMkfjCoIQlYjRilceQ()~ClIciQ VadQdara- 390 015 fel1(O~651 ts~ 7064 F~(1126~)235 4356- E(tIll1l shlih$lll1llhvlgmaiillQm
ItlotlXQpittiell tbeC(itlf~aoy has ili~Lrnraterial respeetsen adiJqual1l internal financlllloQt1 ~ystetnltlYer fihattclllL riepo~llgandSUllltnte~111Jl fll1ancial cDntroSoftll UnatlClalre~ottlnll operlltinlplffutlvely- asmiddotlitMargb 312016 based ontheInternal conlJtdl overll11aileililrtpe jr i1titcrlilllsliWlisled IPY tpeCpmpllllY considerlng the esSehtialcompilmnts oflfittmalconttol stated ill theGUidanceNpteQll A~ldlt l)flntemaIFmanoiliIContrQIs Ovw IFIllanelal Bilil1ortin issued h)itbl Tnstitute QfQllatterelif Accountants OfIhdia
Fo~ urd on pehalf of SBAll SANtillV AND COMPANyen ClIAJIXpoundRED ACCOUNTiNTS leAl RlJGNO 0109794W
~
Jl~ Propriefot MNOI034010 DAtH JUI
) May 2016 PtAC1iMlItnblli
bull
Jbull p SHAH M middotornLL~ bullbulljCA
2Siimllliall~~ H~rQhiiiill Colony Rll1icento~l$eCirle Vadodall~gO~le rettB26~ ~33 1~-~iIK(if265j2354386 -Email shahsanghvigmaJfcolII
(ltW~tlii1l tl1 inabOYllttlte 1lu(jitQrSi repenofeven dateto tbe J)lcentrtrberso CORAL LAJ30RAOmES LJMl1EDoillne fJlancentjlll$tiitetnllnt~ 10theyear ended 3102016)
1 (Ili)TlIeiZOmpEllJY hallmaintairted PrQper records showilrg ttIl patliieulllsihelual Iii qllllti~lie lt1eWrsand $ltu~tmnQfFhled Assets
(b1 1lllt~ml~ets hll5ic b~nphysi~aIIverified by thel11anllgelilent at teasnnilil intervals No mllte1lll1dJScentrcIlllti9ies werenmmed onSlich verlfiGlftion
(Q~ Inourqpilliouaml apcoclIhgtotlte ufol1matian andexplanationgiven to us th titled~ds of immovable properties are held in the nameofthecomp41lY
ii Plilystcalvtlilneatiol1 ofInventoryhas beeneondqcjedat reasoMbe ntetliaI by managcentli~lit i
ilhdno D)llrerMldisetepllnPw WrenotilleaOI1swelvcdficatlon
m kltpcptding tothe illf01Qlatkm and exptAAatilln given to IIgt theltompltlyen hM 11llgtlltltel ~y
lolllS secured or lnSee1lfed to ~llml1anleS flttfisUmited liahilitY IJ_erlll1ipsootnlf ~arties covered lre~lsternlaltttlaquoineil ~s 189 afthemiddotAct I rti view qf the ilhcfVe prqvlsiQls of clause 3 (iii) (1t)GD) and 0) are tOt llPpJeable to the IcollJlany I
iiV Inlllllotiblbn EIlJd lcent(Ij)tlmg to tnfprtrfatiPltliftd eXlfl1l8U0l1sglVeii tqJ~fbelll pany lJilll in
respeot ot IIlllaS flJltes1ltiilentsgualantees and secUfty prolvlsI0lils l)Qmpliedwith s tlQraquo 1783 and sectlonl116 oil1he Cllrnpanics Act El013
v J1lording totliliWfol1l1~tiQlJandexplanatiangiVeinp ulI the CltWIpany htls not eeepterl IlnY
III QepQsitsIIencethe jprcvlsioilsofclause S(II lUe notappllcableto the company
Wi hlloyenelioAdly tevleyltlithcent bollkSlgtpound acentcentPllllts maintained py hilc0mpanyp ampiJool to the j rule~ made by theCenmlaquoi J3QVllmment of India Themaintenance ofcost reco (Is has beep II ptelicdveduls t411(j) of l~e Act anq We lUeof the qpim1l) that primaflcil tIt 1ll1eseribed
alllloUlilts llItllreeords navcentbeen made anilihaintafneQ Wemiddot middothavetrot hOWllYer eadlltaiecl eliiUiflfilltionQftherecords Withayenlew t1deiennllleWllitthlj they are ilCCllratetit co pllt~
ViL (lJ) AeeQOOing to the OQoyenstlid Je~otds ~produeed aildegtltlU1linedby Usin l1ord41loe With ~lIetmlyen~llted AudltfrlgPta411ceslnJndi1J lihd ilsQmanagemeht representation unQis)Iuwd statiltQqdu~s intespe~ of lrovfdentlbnd lemwloyees Sfatelnsmilnce lneltgttne t SilWs tax Se~leela)(CUjtotfi d~~ ~xillseifaJY Vii1tlekiaed fax CeSSllnd ltlth materialsl qtoty dues ilppliealiiletaithas beelilXegularly depositeClwithaiproptiate authorities
--------------------- -__--------~_I
J PSHAH Me mLUtFcA
2middotSamarpltlnmiddot~aililad~~lIli Colony RllceCou~ ClrclQVadodarimiddot390Qt5 Tel(Q26S)2iMOalt Faxi(O~e5)23S~B6 middotErniJil Shahsar9hVigmailrom
~tl AccQrlingto the records of the company the disputed dues in respectofexc] e dutyof Rs ~8$i ls ~re~i())illi YeartslS561acs)setvicetax Rs nil (preYousyeal Rsnit) and sales tax Rsml ~rIlV1U~ ~emiddotat RJgti lil) income tax as nilprevions year Rs nil ) as at TIiar h 3 I 2016 hallenlll heen deposited WiiiliL appropriate authorities ilrtcl no prevision has been made for the same
St Nmueof fue Name of Amount Peded to which the FomID where 11(jmiddot istatllteJJlleSmiddot ~Si in ameunt relates dispute is pellding
Lacs) OfJ)he centrl1 tIQi~c IS56 2(Olmiddot032003middotQ4 Ik SUptCU1e centbm
ElIcentise~ct t944 tgtuti 200405 iMewDIl11 I _
]houtQPinioll and acoofilittg to theinformatlon andellplanatigifgJYcn tous anlil tbllljoolt$of acebunts Verified by us the company has not4et1lllt~ in liepa~tllnt of dll t~ tIJfanciil1 instit1ltQnbarik((joVCll11llllnf 01 dues to tebenwe hold~
is llet iufilrrnaijlJugivln to usno 1111IneywaSnilsedibY way 0-pound initiaipubfieoller orfurther i J1ll1ilfcentofe~ (in~Iuclingdebt lnstfuments) No term loaasarelfliseobiy thecompafiy duxillfl the
-1 year
amp Durittgtlie ceurse ofour ~xarniWltlonQtbotisiofacCOJIDt~olnrled in acentcentordte with tb~ Olltetaly Aqcepted Al1diting Standards 1m IJldi~ wehll~e nllther (jl1me lI(rossmiddot InstlWice lf fraud on er h~ the oompany either noticed er repotied dmng the year nor 11 ~iVewe been Il1formed ofampuch lease-by themanagemetit
xi Acent~9r4ng to int9rrntttlOn and elltpIanatlon g1VIltto U$ and ltbcent books ilpound acoilitts ~~finlamp b~middotI1lS the mnnagerlllfrettlJIDeratlonhl becn pard pr pr()~idel incompliance With SeetiQn97 readwith Schedute Vto theCompanies Act 2019
Thecompany is nota Nidhi company hence th~ prQli~~OIli cr$ lJaUl111 3(xli)aIlnQt alJPiil)aamplil to the Cqmpany
xiii All transactians with Jh~ related PaJtties ate incol[fp-liancj wi~h seetion t77 and 1880pound -Companies Act 2013WIJcenttcent appIii1ajfe and the details haYe been disclosed 11 he 1fillcillii Statements etc as required hytheapplicableaceountingstoodards
x~v According to infermation-and explanatlon given tlJ Wland the lJQdks ofaccounts j etified by us the company dutifigtheW~lthaSlilJtlllade an preietefitill1 liflbt1tlent orprivate plementqf shares or fully or partIlbdiverti1ile debentures ieJ1l tl1lprovicention Qfclavse $ xht) are tot apptlCllheto companies
xv According to inforrnati0lande~Illanationgiven tous and the bQoksofaOcliUbts elffied by us the rompany has not epteted into any noncashtrensacticn withditelt0rs ot perijl) seomrcct64 Iwithit I
i i [
IImiddotbull
Ir
~
xvI
PIWCll Mumbai raquoatl lOYOStZill()
51 ~
I
f l
)
Shah Sanghvj ace CHARTe~EDACCOUNTANTS
~1l~11l~Pll Z$iJ(aribhakti CQlony Ra~Cdurs~ CirCle adooara-390 InS Tel(O$61 233 7~jax(Qaa5) z~54aaa E-ltiali shahsai1Jhvfg01aiIOOil
M e
~it 1934
FOR $hilr$llughviampCo (Clill~ered AeeQUUital1ts) ~~g No~r09794W
JISHAlt (IttlprietoF) Menihel1~)dJI NQ Q3461O
The ltompatly is Wilt req)1ired to be regl~tered 1Jniiletseetlo 4SrAllfthe Re~elVe
JP$tfAH m LIltECA
ank onndfa
JP SHAH MC(i bull I~ajFcoA~1~~~~~
2imiddot~tpln- 26 HMbMkfjCoIQlYjRilceQ()~ClIciQ VadQdara- 390 015 fel1(O~651 ts~ 7064 F~(1126~)235 4356- E(tIll1l shlih$lll1llhvlgmaiillQm
ItlotlXQpittiell tbeC(itlf~aoy has ili~Lrnraterial respeetsen adiJqual1l internal financlllloQt1 ~ystetnltlYer fihattclllL riepo~llgandSUllltnte~111Jl fll1ancial cDntroSoftll UnatlClalre~ottlnll operlltinlplffutlvely- asmiddotlitMargb 312016 based ontheInternal conlJtdl overll11aileililrtpe jr i1titcrlilllsliWlisled IPY tpeCpmpllllY considerlng the esSehtialcompilmnts oflfittmalconttol stated ill theGUidanceNpteQll A~ldlt l)flntemaIFmanoiliIContrQIs Ovw IFIllanelal Bilil1ortin issued h)itbl Tnstitute QfQllatterelif Accountants OfIhdia
Fo~ urd on pehalf of SBAll SANtillV AND COMPANyen ClIAJIXpoundRED ACCOUNTiNTS leAl RlJGNO 0109794W
~
Jl~ Propriefot MNOI034010 DAtH JUI
) May 2016 PtAC1iMlItnblli
bull
Jbull p SHAH M middotornLL~ bullbulljCA
2Siimllliall~~ H~rQhiiiill Colony Rll1icento~l$eCirle Vadodall~gO~le rettB26~ ~33 1~-~iIK(if265j2354386 -Email shahsanghvigmaJfcolII
(ltW~tlii1l tl1 inabOYllttlte 1lu(jitQrSi repenofeven dateto tbe J)lcentrtrberso CORAL LAJ30RAOmES LJMl1EDoillne fJlancentjlll$tiitetnllnt~ 10theyear ended 3102016)
1 (Ili)TlIeiZOmpEllJY hallmaintairted PrQper records showilrg ttIl patliieulllsihelual Iii qllllti~lie lt1eWrsand $ltu~tmnQfFhled Assets
(b1 1lllt~ml~ets hll5ic b~nphysi~aIIverified by thel11anllgelilent at teasnnilil intervals No mllte1lll1dJScentrcIlllti9ies werenmmed onSlich verlfiGlftion
(Q~ Inourqpilliouaml apcoclIhgtotlte ufol1matian andexplanationgiven to us th titled~ds of immovable properties are held in the nameofthecomp41lY
ii Plilystcalvtlilneatiol1 ofInventoryhas beeneondqcjedat reasoMbe ntetliaI by managcentli~lit i
ilhdno D)llrerMldisetepllnPw WrenotilleaOI1swelvcdficatlon
m kltpcptding tothe illf01Qlatkm and exptAAatilln given to IIgt theltompltlyen hM 11llgtlltltel ~y
lolllS secured or lnSee1lfed to ~llml1anleS flttfisUmited liahilitY IJ_erlll1ipsootnlf ~arties covered lre~lsternlaltttlaquoineil ~s 189 afthemiddotAct I rti view qf the ilhcfVe prqvlsiQls of clause 3 (iii) (1t)GD) and 0) are tOt llPpJeable to the IcollJlany I
iiV Inlllllotiblbn EIlJd lcent(Ij)tlmg to tnfprtrfatiPltliftd eXlfl1l8U0l1sglVeii tqJ~fbelll pany lJilll in
respeot ot IIlllaS flJltes1ltiilentsgualantees and secUfty prolvlsI0lils l)Qmpliedwith s tlQraquo 1783 and sectlonl116 oil1he Cllrnpanics Act El013
v J1lording totliliWfol1l1~tiQlJandexplanatiangiVeinp ulI the CltWIpany htls not eeepterl IlnY
III QepQsitsIIencethe jprcvlsioilsofclause S(II lUe notappllcableto the company
Wi hlloyenelioAdly tevleyltlithcent bollkSlgtpound acentcentPllllts maintained py hilc0mpanyp ampiJool to the j rule~ made by theCenmlaquoi J3QVllmment of India Themaintenance ofcost reco (Is has beep II ptelicdveduls t411(j) of l~e Act anq We lUeof the qpim1l) that primaflcil tIt 1ll1eseribed
alllloUlilts llItllreeords navcentbeen made anilihaintafneQ Wemiddot middothavetrot hOWllYer eadlltaiecl eliiUiflfilltionQftherecords Withayenlew t1deiennllleWllitthlj they are ilCCllratetit co pllt~
ViL (lJ) AeeQOOing to the OQoyenstlid Je~otds ~produeed aildegtltlU1linedby Usin l1ord41loe With ~lIetmlyen~llted AudltfrlgPta411ceslnJndi1J lihd ilsQmanagemeht representation unQis)Iuwd statiltQqdu~s intespe~ of lrovfdentlbnd lemwloyees Sfatelnsmilnce lneltgttne t SilWs tax Se~leela)(CUjtotfi d~~ ~xillseifaJY Vii1tlekiaed fax CeSSllnd ltlth materialsl qtoty dues ilppliealiiletaithas beelilXegularly depositeClwithaiproptiate authorities
--------------------- -__--------~_I
J PSHAH Me mLUtFcA
2middotSamarpltlnmiddot~aililad~~lIli Colony RllceCou~ ClrclQVadodarimiddot390Qt5 Tel(Q26S)2iMOalt Faxi(O~e5)23S~B6 middotErniJil Shahsar9hVigmailrom
~tl AccQrlingto the records of the company the disputed dues in respectofexc] e dutyof Rs ~8$i ls ~re~i())illi YeartslS561acs)setvicetax Rs nil (preYousyeal Rsnit) and sales tax Rsml ~rIlV1U~ ~emiddotat RJgti lil) income tax as nilprevions year Rs nil ) as at TIiar h 3 I 2016 hallenlll heen deposited WiiiliL appropriate authorities ilrtcl no prevision has been made for the same
St Nmueof fue Name of Amount Peded to which the FomID where 11(jmiddot istatllteJJlleSmiddot ~Si in ameunt relates dispute is pellding
Lacs) OfJ)he centrl1 tIQi~c IS56 2(Olmiddot032003middotQ4 Ik SUptCU1e centbm
ElIcentise~ct t944 tgtuti 200405 iMewDIl11 I _
]houtQPinioll and acoofilittg to theinformatlon andellplanatigifgJYcn tous anlil tbllljoolt$of acebunts Verified by us the company has not4et1lllt~ in liepa~tllnt of dll t~ tIJfanciil1 instit1ltQnbarik((joVCll11llllnf 01 dues to tebenwe hold~
is llet iufilrrnaijlJugivln to usno 1111IneywaSnilsedibY way 0-pound initiaipubfieoller orfurther i J1ll1ilfcentofe~ (in~Iuclingdebt lnstfuments) No term loaasarelfliseobiy thecompafiy duxillfl the
-1 year
amp Durittgtlie ceurse ofour ~xarniWltlonQtbotisiofacCOJIDt~olnrled in acentcentordte with tb~ Olltetaly Aqcepted Al1diting Standards 1m IJldi~ wehll~e nllther (jl1me lI(rossmiddot InstlWice lf fraud on er h~ the oompany either noticed er repotied dmng the year nor 11 ~iVewe been Il1formed ofampuch lease-by themanagemetit
xi Acent~9r4ng to int9rrntttlOn and elltpIanatlon g1VIltto U$ and ltbcent books ilpound acoilitts ~~finlamp b~middotI1lS the mnnagerlllfrettlJIDeratlonhl becn pard pr pr()~idel incompliance With SeetiQn97 readwith Schedute Vto theCompanies Act 2019
Thecompany is nota Nidhi company hence th~ prQli~~OIli cr$ lJaUl111 3(xli)aIlnQt alJPiil)aamplil to the Cqmpany
xiii All transactians with Jh~ related PaJtties ate incol[fp-liancj wi~h seetion t77 and 1880pound -Companies Act 2013WIJcenttcent appIii1ajfe and the details haYe been disclosed 11 he 1fillcillii Statements etc as required hytheapplicableaceountingstoodards
x~v According to infermation-and explanatlon given tlJ Wland the lJQdks ofaccounts j etified by us the company dutifigtheW~lthaSlilJtlllade an preietefitill1 liflbt1tlent orprivate plementqf shares or fully or partIlbdiverti1ile debentures ieJ1l tl1lprovicention Qfclavse $ xht) are tot apptlCllheto companies
xv According to inforrnati0lande~Illanationgiven tous and the bQoksofaOcliUbts elffied by us the rompany has not epteted into any noncashtrensacticn withditelt0rs ot perijl) seomrcct64 Iwithit I
i i [
IImiddotbull
Ir
~
xvI
PIWCll Mumbai raquoatl lOYOStZill()
51 ~
I
f l
)
Shah Sanghvj ace CHARTe~EDACCOUNTANTS
~1l~11l~Pll Z$iJ(aribhakti CQlony Ra~Cdurs~ CirCle adooara-390 InS Tel(O$61 233 7~jax(Qaa5) z~54aaa E-ltiali shahsai1Jhvfg01aiIOOil
M e
~it 1934
FOR $hilr$llughviampCo (Clill~ered AeeQUUital1ts) ~~g No~r09794W
JISHAlt (IttlprietoF) Menihel1~)dJI NQ Q3461O
The ltompatly is Wilt req)1ired to be regl~tered 1Jniiletseetlo 4SrAllfthe Re~elVe
JP$tfAH m LIltECA
ank onndfa
Jbull p SHAH M middotornLL~ bullbulljCA
2Siimllliall~~ H~rQhiiiill Colony Rll1icento~l$eCirle Vadodall~gO~le rettB26~ ~33 1~-~iIK(if265j2354386 -Email shahsanghvigmaJfcolII
(ltW~tlii1l tl1 inabOYllttlte 1lu(jitQrSi repenofeven dateto tbe J)lcentrtrberso CORAL LAJ30RAOmES LJMl1EDoillne fJlancentjlll$tiitetnllnt~ 10theyear ended 3102016)
1 (Ili)TlIeiZOmpEllJY hallmaintairted PrQper records showilrg ttIl patliieulllsihelual Iii qllllti~lie lt1eWrsand $ltu~tmnQfFhled Assets
(b1 1lllt~ml~ets hll5ic b~nphysi~aIIverified by thel11anllgelilent at teasnnilil intervals No mllte1lll1dJScentrcIlllti9ies werenmmed onSlich verlfiGlftion
(Q~ Inourqpilliouaml apcoclIhgtotlte ufol1matian andexplanationgiven to us th titled~ds of immovable properties are held in the nameofthecomp41lY
ii Plilystcalvtlilneatiol1 ofInventoryhas beeneondqcjedat reasoMbe ntetliaI by managcentli~lit i
ilhdno D)llrerMldisetepllnPw WrenotilleaOI1swelvcdficatlon
m kltpcptding tothe illf01Qlatkm and exptAAatilln given to IIgt theltompltlyen hM 11llgtlltltel ~y
lolllS secured or lnSee1lfed to ~llml1anleS flttfisUmited liahilitY IJ_erlll1ipsootnlf ~arties covered lre~lsternlaltttlaquoineil ~s 189 afthemiddotAct I rti view qf the ilhcfVe prqvlsiQls of clause 3 (iii) (1t)GD) and 0) are tOt llPpJeable to the IcollJlany I
iiV Inlllllotiblbn EIlJd lcent(Ij)tlmg to tnfprtrfatiPltliftd eXlfl1l8U0l1sglVeii tqJ~fbelll pany lJilll in
respeot ot IIlllaS flJltes1ltiilentsgualantees and secUfty prolvlsI0lils l)Qmpliedwith s tlQraquo 1783 and sectlonl116 oil1he Cllrnpanics Act El013
v J1lording totliliWfol1l1~tiQlJandexplanatiangiVeinp ulI the CltWIpany htls not eeepterl IlnY
III QepQsitsIIencethe jprcvlsioilsofclause S(II lUe notappllcableto the company
Wi hlloyenelioAdly tevleyltlithcent bollkSlgtpound acentcentPllllts maintained py hilc0mpanyp ampiJool to the j rule~ made by theCenmlaquoi J3QVllmment of India Themaintenance ofcost reco (Is has beep II ptelicdveduls t411(j) of l~e Act anq We lUeof the qpim1l) that primaflcil tIt 1ll1eseribed
alllloUlilts llItllreeords navcentbeen made anilihaintafneQ Wemiddot middothavetrot hOWllYer eadlltaiecl eliiUiflfilltionQftherecords Withayenlew t1deiennllleWllitthlj they are ilCCllratetit co pllt~
ViL (lJ) AeeQOOing to the OQoyenstlid Je~otds ~produeed aildegtltlU1linedby Usin l1ord41loe With ~lIetmlyen~llted AudltfrlgPta411ceslnJndi1J lihd ilsQmanagemeht representation unQis)Iuwd statiltQqdu~s intespe~ of lrovfdentlbnd lemwloyees Sfatelnsmilnce lneltgttne t SilWs tax Se~leela)(CUjtotfi d~~ ~xillseifaJY Vii1tlekiaed fax CeSSllnd ltlth materialsl qtoty dues ilppliealiiletaithas beelilXegularly depositeClwithaiproptiate authorities
--------------------- -__--------~_I
J PSHAH Me mLUtFcA
2middotSamarpltlnmiddot~aililad~~lIli Colony RllceCou~ ClrclQVadodarimiddot390Qt5 Tel(Q26S)2iMOalt Faxi(O~e5)23S~B6 middotErniJil Shahsar9hVigmailrom
~tl AccQrlingto the records of the company the disputed dues in respectofexc] e dutyof Rs ~8$i ls ~re~i())illi YeartslS561acs)setvicetax Rs nil (preYousyeal Rsnit) and sales tax Rsml ~rIlV1U~ ~emiddotat RJgti lil) income tax as nilprevions year Rs nil ) as at TIiar h 3 I 2016 hallenlll heen deposited WiiiliL appropriate authorities ilrtcl no prevision has been made for the same
St Nmueof fue Name of Amount Peded to which the FomID where 11(jmiddot istatllteJJlleSmiddot ~Si in ameunt relates dispute is pellding
Lacs) OfJ)he centrl1 tIQi~c IS56 2(Olmiddot032003middotQ4 Ik SUptCU1e centbm
ElIcentise~ct t944 tgtuti 200405 iMewDIl11 I _
]houtQPinioll and acoofilittg to theinformatlon andellplanatigifgJYcn tous anlil tbllljoolt$of acebunts Verified by us the company has not4et1lllt~ in liepa~tllnt of dll t~ tIJfanciil1 instit1ltQnbarik((joVCll11llllnf 01 dues to tebenwe hold~
is llet iufilrrnaijlJugivln to usno 1111IneywaSnilsedibY way 0-pound initiaipubfieoller orfurther i J1ll1ilfcentofe~ (in~Iuclingdebt lnstfuments) No term loaasarelfliseobiy thecompafiy duxillfl the
-1 year
amp Durittgtlie ceurse ofour ~xarniWltlonQtbotisiofacCOJIDt~olnrled in acentcentordte with tb~ Olltetaly Aqcepted Al1diting Standards 1m IJldi~ wehll~e nllther (jl1me lI(rossmiddot InstlWice lf fraud on er h~ the oompany either noticed er repotied dmng the year nor 11 ~iVewe been Il1formed ofampuch lease-by themanagemetit
xi Acent~9r4ng to int9rrntttlOn and elltpIanatlon g1VIltto U$ and ltbcent books ilpound acoilitts ~~finlamp b~middotI1lS the mnnagerlllfrettlJIDeratlonhl becn pard pr pr()~idel incompliance With SeetiQn97 readwith Schedute Vto theCompanies Act 2019
Thecompany is nota Nidhi company hence th~ prQli~~OIli cr$ lJaUl111 3(xli)aIlnQt alJPiil)aamplil to the Cqmpany
xiii All transactians with Jh~ related PaJtties ate incol[fp-liancj wi~h seetion t77 and 1880pound -Companies Act 2013WIJcenttcent appIii1ajfe and the details haYe been disclosed 11 he 1fillcillii Statements etc as required hytheapplicableaceountingstoodards
x~v According to infermation-and explanatlon given tlJ Wland the lJQdks ofaccounts j etified by us the company dutifigtheW~lthaSlilJtlllade an preietefitill1 liflbt1tlent orprivate plementqf shares or fully or partIlbdiverti1ile debentures ieJ1l tl1lprovicention Qfclavse $ xht) are tot apptlCllheto companies
xv According to inforrnati0lande~Illanationgiven tous and the bQoksofaOcliUbts elffied by us the rompany has not epteted into any noncashtrensacticn withditelt0rs ot perijl) seomrcct64 Iwithit I
i i [
IImiddotbull
Ir
~
xvI
PIWCll Mumbai raquoatl lOYOStZill()
51 ~
I
f l
)
Shah Sanghvj ace CHARTe~EDACCOUNTANTS
~1l~11l~Pll Z$iJ(aribhakti CQlony Ra~Cdurs~ CirCle adooara-390 InS Tel(O$61 233 7~jax(Qaa5) z~54aaa E-ltiali shahsai1Jhvfg01aiIOOil
M e
~it 1934
FOR $hilr$llughviampCo (Clill~ered AeeQUUital1ts) ~~g No~r09794W
JISHAlt (IttlprietoF) Menihel1~)dJI NQ Q3461O
The ltompatly is Wilt req)1ired to be regl~tered 1Jniiletseetlo 4SrAllfthe Re~elVe
JP$tfAH m LIltECA
ank onndfa
--------------------- -__--------~_I
J PSHAH Me mLUtFcA
2middotSamarpltlnmiddot~aililad~~lIli Colony RllceCou~ ClrclQVadodarimiddot390Qt5 Tel(Q26S)2iMOalt Faxi(O~e5)23S~B6 middotErniJil Shahsar9hVigmailrom
~tl AccQrlingto the records of the company the disputed dues in respectofexc] e dutyof Rs ~8$i ls ~re~i())illi YeartslS561acs)setvicetax Rs nil (preYousyeal Rsnit) and sales tax Rsml ~rIlV1U~ ~emiddotat RJgti lil) income tax as nilprevions year Rs nil ) as at TIiar h 3 I 2016 hallenlll heen deposited WiiiliL appropriate authorities ilrtcl no prevision has been made for the same
St Nmueof fue Name of Amount Peded to which the FomID where 11(jmiddot istatllteJJlleSmiddot ~Si in ameunt relates dispute is pellding
Lacs) OfJ)he centrl1 tIQi~c IS56 2(Olmiddot032003middotQ4 Ik SUptCU1e centbm
ElIcentise~ct t944 tgtuti 200405 iMewDIl11 I _
]houtQPinioll and acoofilittg to theinformatlon andellplanatigifgJYcn tous anlil tbllljoolt$of acebunts Verified by us the company has not4et1lllt~ in liepa~tllnt of dll t~ tIJfanciil1 instit1ltQnbarik((joVCll11llllnf 01 dues to tebenwe hold~
is llet iufilrrnaijlJugivln to usno 1111IneywaSnilsedibY way 0-pound initiaipubfieoller orfurther i J1ll1ilfcentofe~ (in~Iuclingdebt lnstfuments) No term loaasarelfliseobiy thecompafiy duxillfl the
-1 year
amp Durittgtlie ceurse ofour ~xarniWltlonQtbotisiofacCOJIDt~olnrled in acentcentordte with tb~ Olltetaly Aqcepted Al1diting Standards 1m IJldi~ wehll~e nllther (jl1me lI(rossmiddot InstlWice lf fraud on er h~ the oompany either noticed er repotied dmng the year nor 11 ~iVewe been Il1formed ofampuch lease-by themanagemetit
xi Acent~9r4ng to int9rrntttlOn and elltpIanatlon g1VIltto U$ and ltbcent books ilpound acoilitts ~~finlamp b~middotI1lS the mnnagerlllfrettlJIDeratlonhl becn pard pr pr()~idel incompliance With SeetiQn97 readwith Schedute Vto theCompanies Act 2019
Thecompany is nota Nidhi company hence th~ prQli~~OIli cr$ lJaUl111 3(xli)aIlnQt alJPiil)aamplil to the Cqmpany
xiii All transactians with Jh~ related PaJtties ate incol[fp-liancj wi~h seetion t77 and 1880pound -Companies Act 2013WIJcenttcent appIii1ajfe and the details haYe been disclosed 11 he 1fillcillii Statements etc as required hytheapplicableaceountingstoodards
x~v According to infermation-and explanatlon given tlJ Wland the lJQdks ofaccounts j etified by us the company dutifigtheW~lthaSlilJtlllade an preietefitill1 liflbt1tlent orprivate plementqf shares or fully or partIlbdiverti1ile debentures ieJ1l tl1lprovicention Qfclavse $ xht) are tot apptlCllheto companies
xv According to inforrnati0lande~Illanationgiven tous and the bQoksofaOcliUbts elffied by us the rompany has not epteted into any noncashtrensacticn withditelt0rs ot perijl) seomrcct64 Iwithit I
i i [
IImiddotbull
Ir
~
xvI
PIWCll Mumbai raquoatl lOYOStZill()
51 ~
I
f l
)
Shah Sanghvj ace CHARTe~EDACCOUNTANTS
~1l~11l~Pll Z$iJ(aribhakti CQlony Ra~Cdurs~ CirCle adooara-390 InS Tel(O$61 233 7~jax(Qaa5) z~54aaa E-ltiali shahsai1Jhvfg01aiIOOil
M e
~it 1934
FOR $hilr$llughviampCo (Clill~ered AeeQUUital1ts) ~~g No~r09794W
JISHAlt (IttlprietoF) Menihel1~)dJI NQ Q3461O
The ltompatly is Wilt req)1ired to be regl~tered 1Jniiletseetlo 4SrAllfthe Re~elVe
JP$tfAH m LIltECA
ank onndfa
xvI
PIWCll Mumbai raquoatl lOYOStZill()
51 ~
I
f l
)
Shah Sanghvj ace CHARTe~EDACCOUNTANTS
~1l~11l~Pll Z$iJ(aribhakti CQlony Ra~Cdurs~ CirCle adooara-390 InS Tel(O$61 233 7~jax(Qaa5) z~54aaa E-ltiali shahsai1Jhvfg01aiIOOil
M e
~it 1934
FOR $hilr$llughviampCo (Clill~ered AeeQUUital1ts) ~~g No~r09794W
JISHAlt (IttlprietoF) Menihel1~)dJI NQ Q3461O
The ltompatly is Wilt req)1ired to be regl~tered 1Jniiletseetlo 4SrAllfthe Re~elVe
JP$tfAH m LIltECA
ank onndfa