Avon Corp

How accurate are its accounts?
this company markets weighing scales ... it price hasnt done much since listing though its Net profits have been going up consistently

Period Dec-10 Sep-10 Jun-10 Mar-10 Dec-09 Mar-10 (Annual)
Net Profit 6.70 6.53 5.22 0.17 6.04 11.90

The market though doesnt seem to have much faith in the numbers as can be seen from the low prices of this fv 10 rs stock

the reason the market doesnt seem to beleive the numbers is somehow justified
heres a part of a moneycontrol article

http://www.indianexpress.com/news/allied-digital-plunges-20-on-tax-raid/746033/
what triggered the raids?
There seems to be an allegation of alleged bogus expenditure by the company. CNBC-TV18 also learns that it is not only Allied Digital Services but also another listed company that has come under the I-T department’s scanner— Andheri-based Avon Corporation, which manufactures weighing scales. What I understand is that there has been some transaction of bogus bills between Allied Digital Services and Avon Corporation. And that is the premise based on which the I-T department has moved