A stock audit in Delhi NCR is an independent physical count of your inventory at every location, reconciled item by item to the books, with each difference traced to a cause and a report signed by a Chartered Accountant. We run them for management, for lenders' requirements and ahead of the year-end audit, from ₹9,999 excluding GST. An NCR business rarely keeps its stock in one state. The registered office is in Delhi, the factory is in Faridabad, the fulfilment centre is in Greater Noida and the finished goods sit in a Gurugram warehouse — three states, three sets of movement documents, and four separate arguments about which side of the cut-off a truck was on.
CorporateWalla runs stock audits and physical stock verifications across Delhi and the NCR — industrial estates inside Delhi, the Noida and Greater Noida electronics and e-commerce belt, the Manesar and Faridabad auto belt, Ghaziabad, and the old-city wholesale markets — counting every location on the same date where it matters, and producing one consolidated reconciliation rather than four separate ones.
Manufacturers inside Delhi's own industrial estates. Bawana, one of the largest planned industrial areas in the region, and Narela handle light manufacturing, packaging, plastics, electrical fittings and food processing. Wazirpur is stainless steel products and fasteners. Mayapuri is auto parts, foundry work, metal recycling and one of the region's largest scrap and metal markets. Naraina runs CNC machining and sheet metal. Okhla splits across three phases — garments and publishing, export-oriented pharma and packaging, and biotech and IT. Patparganj is pharma, printing and packaging.
Electronics and mobile manufacturers in Noida. Sectors 63, 80, 81, 85 and 140 host electronics assembly and mobile phone manufacturing — Samsung's Sector 81 plant was inaugurated in 2018 as the world's largest mobile phone factory. Serialised and IMEI-tracked stock verifies one-to-one, which is slower than a quantity count and catches substitution a quantity count never will.
E-commerce fulfilment operators in Greater Noida, Kundli, Bhiwadi and the Farukhnagar–Sohna belt. High SKU counts, third-party-owned stock, returns and RTO pipelines, and unsellable inventory sitting in the count as stock and in the P&L as a write-off waiting to happen.
Auto and auto-component manufacturers at IMT Manesar, Udyog Vihar and Faridabad. Manesar carries Maruti Suzuki, Honda, Denso and a component base around them; Faridabad runs heavy and light engineering, tractors and agricultural equipment with Escorts and JCB among the larger units. Line-side stock, bin stock, dealer consignment and service spares.
Steel fabrication and consumer durables in Ghaziabad and Sahibabad, on weighbridge-based quantification and mixed stock types. Apparel exporters across Okhla, Noida and Gurugram hold fabric, trims, WIP at several stages and finished goods awaiting inspection, much of it at job workers.
Wholesale traders in Old Delhi. Chandni Chowk and Sadar Bazaar together form one of the region's largest wholesale trading concentrations — general goods, household items, textiles, toys, stationery, electronics. Khari Baoli is Asia's largest spice and dry-fruit market. Nehru Place is Delhi's largest electronics market. Gandhi Nagar in east Delhi is widely described as one of Asia's largest wholesale readymade-garment markets. Kirti Nagar is Asia's largest furniture market. Counting in these markets is a logistics problem before it is an accounting one — narrow lanes, no vehicle access during trading hours, stock stacked vertically in small godowns, and units of measure that are traditional rather than systematic.
The four terms get used as if they were one. They are not, and the difference decides who commissions the work, whose format the report follows and who relies on it.
| Engagement | What it is | Who commissions it | Where CorporateWalla fits |
|---|---|---|---|
| Physical stock verification | The count itself — counting, weighing or measuring stock and comparing it to the books | Management, often ahead of the year-end audit | We carry out the count and reconciliation for you |
| Stock audit | Independent verification of stock against the books, with a reconciliation and report; in lending, the lender-required review of hypothecated stock and drawing power | Management, or the borrower under a bank's sanction terms | We are engaged by you; where the bank appoints its own panel auditor, that engagement is the bank's |
| Inventory audit | Either a synonym for stock audit, or an internal-audit review of inventory processes and controls | Management or the internal audit function | Say which you mean and we scope it in writing |
| Statutory audit | The Companies Act audit of the financial statements, in which the auditor observes management's count under SA 501 | The company's members, at the AGM | A separate engagement — a stock audit does not replace it, and we are not your statutory auditor through this work |
No law requires every business to have a stock audit. Four different rules create the need, and none of them sets a single rupee threshold.
| Source | What it actually requires |
|---|---|
| CARO 2020, clause 3(ii)(a) | Management must physically verify inventory at reasonable intervals; the statutory auditor reports on coverage and procedure and on discrepancies of 10% or more in aggregate for any class of inventory |
| CARO 2020, clause 3(ii)(b) | Where working capital limits above ₹5 crore in aggregate are sanctioned on current assets, the auditor reports whether quarterly returns to lenders agree with the books — a reporting test, not a stock audit trigger |
| Your bank's sanction terms | Periodic stock audit where the lender's own credit policy requires it; thresholds differ bank to bank and are not set by an RBI circular |
| GST — section 35 of the CGST Act, rule 56 | True and correct stock records; GST law does not require physical verification |
Detail and sources for each are on the national page: what the law says about stock audit.
| Belt | What's there |
|---|---|
| Bawana | DSIIDC-managed; light manufacturing, electrical fittings, packaging, plastics, chemicals, food processing, general engineering |
| Narela | Packaging, plastics, general manufacturing, food processing |
| Wazirpur | Stainless steel products, kitchen utensils, fasteners, metal fabrication |
| Mangolpuri | Textiles, garments, plastic injection moulding |
| Badli, Rajasthani Udyog Nagar | Electrical goods, sheet metal, light engineering, machine parts |
| Okhla Phases I, II and III | Garments and publishing; export-oriented pharma and packaging; biotech, diagnostics, IT and R&D |
| Mohan Cooperative Industrial Estate | Warehousing, automobile showrooms, electrical equipment, logistics |
| Mayapuri I and II | Auto parts, metal recycling, foundry, heavy engineering; a major metal and scrap market |
| Naraina | CNC machining, sheet metal fabrication, decorative goods, personal care |
| Kirti Nagar and Moti Nagar | Furniture, plywood, machine tools, paint |
| Patparganj, Jhilmil, Shahdara | Pharmaceuticals, printing, packaging, plastic goods, consumer durables, electronics assembly |
| Jhandewalan Flatted Factory Complex | Printing, packaging, small-scale manufacturing |
| Belt | What's there |
|---|---|
| Noida — Sectors 63, 80, 81, 85, 140 | Electronics assembly, mobile manufacturing, IT and ITeS |
| Greater Noida and the Ecotech zones | Heavy machinery, data centres, automobile manufacturing, cold storage, large plots |
| IMT Manesar, Gurugram | Auto and auto components, pharmaceuticals, textiles |
| Udyog Vihar, Gurugram | Auto components, IT and electronics, apparel manufacturing |
| Faridabad | Heavy and light engineering, tractors, agricultural equipment, footwear, textiles, auto components |
| Ghaziabad — Sahibabad, Loni | Steel fabrication, chemicals, consumer durables |
| IMT Bawal | Two-wheelers and auto ancillaries |
| Kundli and Sonipat | Food processing, warehousing, dense MSME base |
| Sohna, Farukhnagar, Bahadurgarh, Bhiwadi | Warehousing and logistics overflow, food processing, plastics, heavy manufacturing |
This is the NCR-specific problem, and it is the one most local pages never address.
Three states, one company. Stock moving between a Delhi godown, a Noida fulfilment centre and a Faridabad works crosses state lines with e-way bills attached. On the count date, every one of those movements is either before or after the cut-off, and which side it falls on determines whether the numbers reconcile.
Different dates create windows. Counting Delhi on Monday, Noida on Wednesday and Faridabad on Friday leaves two windows in which a shortage at one site can be covered by a transfer from another, entirely by accident and without anyone intending fraud. The only way to close those windows is to count simultaneously with parallel teams.
One reconciliation, not four. A consolidated reconciliation across all NCR locations — with inter-location transfers in transit at the cut-off identified separately and reconciled to e-way bills and transporter documents — is what a lender or a statutory auditor actually needs. Four separate location reports handed over as a bundle is not the same deliverable, and it pushes the hard work back onto your finance team.
Traffic and timing are part of the plan, not an excuse. Manesar to Sahibabad is not a morning. Multi-site NCR counts are either scheduled with realistic travel or run in parallel — and where stock can move between sites, parallel is the only defensible answer.
A consumer electronics distributor counts its Okhla godown and its Greater Noida fulfilment centre at the same cut-off, 6 pm on 31 March. One SKU shows the pattern below.
| Location | Book quantity | Physical count | Difference |
|---|---|---|---|
| Okhla, Delhi | 1,200 | 1,050 | −150 |
| Greater Noida, Uttar Pradesh | 800 | 800 | 0 |
| In transit, e-way bill generated 4:40 pm | 0 | 150 (by document) | +150 |
| NCR total | 2,000 | 2,000 | Nil |
Okhla had dispatched 150 units before the cut-off on a stock transfer to Greater Noida. The goods left Delhi on an e-way bill and delivery challan but had not reached Uttar Pradesh by 6 pm, so neither site could count them — and the company posts stock transfers only on receipt, so the books still held them at Okhla. Counted on different days, this would have shown as a 150-unit shortage at Okhla and, a day later, an unexplained excess in Noida. Counted together, with the transit schedule reconciled to the e-way bill, it is a nil difference with a document trail.
Illustrative figures. In a real engagement the transit units are confirmed against the transporter's receipt at the destination after the count.
Chandni Chowk, Sadar Bazaar, Khari Baoli, Nehru Place, Gandhi Nagar and Kirti Nagar each need a different plan from a warehouse.
Access windows. Vehicle access is effectively impossible during trading hours. Counts run before opening or after close, and market closing days — Sunday for much of Old Delhi — are frequently the best available window.
Vertical, dense storage. Stock stacked to the ceiling in small godowns, often across several floors of the same building or several buildings in the same lane. Counting means planning the sequence before arriving, not working it out on the spot.
Traditional units of measure. Stock quantified by bori, peti, than, thok lot or by weight rather than by piece. The conversion convention is the count, and it has to be documented in the working papers.
Stock held for others. In wholesale markets it is common for goods belonging to another trader to sit in your godown, and for yours to sit in theirs. Separating ownership before counting is the first step, and it is the step that most often gets skipped.
Full detail on every step: our stock audit process.
| Driver | NCR specifics |
|---|---|
| Number of locations | NCR businesses typically have the most sites of the four cities we cover |
| Simultaneous counting | Parallel teams across Delhi, Noida, Gurugram and Faridabad cost more than sequential counting, and are worth it where stock can move |
| SKU count | Fulfilment centres and wholesale traders both run very high line counts |
| Nature of stock | Serialised electronics, weighed metals and traditional-unit wholesale stock each count slower than boxed goods |
| Access windows | Market counts before opening or after close; plant counts around shifts |
| Inter-state transit | Reconciling e-way bills and transporter documents around the cut-off is a workstream of its own |
| Report format | A lender-format report with drawing power workings is wider in scope than a management reconciliation |
Professional fee from ₹9,999, excluding GST. Written scope and fee before we start, with out-of-pocket costs stated separately.
CorporateWalla operates under DSG Corporate Financial Advisors LLP. NCR engagements are served from our Delhi office at 04, Malook Singh Marg, Arjun Nagar, Krishan Nagar, Delhi 110051, with our head office at 129A, Bangur Avenue, Block A, Kolkata 700055. Where a count needs more people or sites outside Delhi, any travel is quoted openly at the scoping stage.
Our city hubs: Delhi, Delhi NCR, Noida, Greater Noida, Gurugram, Faridabad and Ghaziabad.
Scoping usually takes a day or two once we have your location list and stock ledger. Fieldwork is scheduled around your operations and market access windows. March and September book out early — if you need a year-end or half-year count, start the conversation the month before.
Professional fee from ₹9,999, excluding GST. The fee moves with the number of locations, whether they are counted simultaneously, SKU count, nature of stock, access windows and inter-state travel. Tell us sites and SKU count and you get a written scope and fee, usually the same working day.
Inside Delhi: Bawana, Narela, Wazirpur, Mangolpuri, Badli, Okhla Phases I to III, Mohan Cooperative, Mayapuri, Naraina, Kirti Nagar, Moti Nagar, Patparganj, Jhilmil, Shahdara and Jhandewalan, plus the Chandni Chowk, Sadar Bazaar, Khari Baoli, Nehru Place and Gandhi Nagar markets. Across NCR: Noida, Greater Noida, IMT Manesar, Udyog Vihar, Faridabad, Ghaziabad and Sahibabad, IMT Bawal, Kundli, Sonipat, Sohna, Farukhnagar, Bahadurgarh and Bhiwadi.
Yes, and for most NCR businesses it should. Counting all locations on the same date with parallel teams removes the window in which stock can move between sites unobserved, and the output is a single consolidated reconciliation with location-wise schedules underneath, rather than four separate reports.
It is identified explicitly at the cut-off and reconciled to e-way bills, delivery challans and transporter documents. Inter-state transfers within NCR are the commonest source of an apparent shortage at one site and an apparent excess at another.
Yes. Market godowns in Old Delhi are counted before opening or after close, and on market closing days where that is the best window. Plants are counted around shift changes, and fulfilment centres overnight.
Yes. Those counts are planned differently: access windows outside trading hours, a pre-agreed sequence through the godown, a documented conversion convention for traditional units, and separation of stock held for other traders before any counting begins.
Both, and Faridabad and Ghaziabad. NCR is treated as one engagement area because that is how NCR businesses actually hold stock.
Where the engagement is lender-driven, the report is prepared in the format your sanction terms and the bank's instructions require, including drawing power workings. Acceptance rests with your bank, and where the bank requires a firm from its own panel we will tell you at the first call.
A documented reconciliation with each difference traced to a cause is the basis on which a reply is built. GST law requires stock records under section 35 of the CGST Act and rules 56(2) and 56(12); it does not mandate physical verification. See inventory reconciliation.
Yes. NCR engagements are served from our Delhi office at 04, Malook Singh Marg, Arjun Nagar, Krishan Nagar, Delhi 110051. Any travel to sites outside Delhi is quoted openly at the scoping stage.
Not as a general rule. CARO 2020 requires management of covered companies to verify inventory physically at reasonable intervals, banks require stock audits under their own credit policies, and GST law requires stock records rather than a count. Whether you need one, and in what format, depends on which of those applies to you.
A stock audit verifies inventory — counting it, reconciling it to the books and reporting on the differences. A statutory audit is the Companies Act audit of the whole financial statements, in which the auditor observes the count rather than performs it. A stock audit can support your statutory audit, but it does not replace it.
Yes. Stock at a 3PL in Kundli, Farukhnagar or Greater Noida is counted on site with the warehouse operator's access, and reconciled to both your books and the operator's stock statement. Where a site cannot be counted, we obtain a written confirmation from the custodian and report that stock separately as confirmed, not counted.
Yes. Recurring counts run on a fixed calendar with the same scope and report format each time, so variances can be compared period to period. A rotating cycle-count plan across SKUs suits high-volume fulfilment centres; a full count each quarter suits most traders. The recurring scope and fee are agreed in writing at the start.
Fieldwork for a single godown or store is usually one to two days; multi-site NCR counts run in parallel on the same date. The report follows 7 to 15 days from the count date, depending on the number of differences to trace and how quickly your team answers reconciliation queries.
Tell us what you need and a real CA calls you back, with no scripts and no transfers. Call 72783 76654. Mon - Sat, 10:00 AM - 7:00 PM IST.
Reviewed by the CA and CS Team, CorporateWalla · Last updated 12 September 2026 · · Sources: MCA — CARO 2020, RBI — Master Circular on Management of Advances, ICAI — SA 501, CBIC — CGST Rules
Canonical: https://corporatewalla.com/services/stock-audit/delhi
