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Alchemist Corporation Ltd.

BSE: 531409 Sector: Others
NSE: N.A. ISIN Code: INE057D01016
BSE LIVE 15:15 | 02 Dec 11.69 -0.61
(-4.96%)
OPEN

11.69

HIGH

11.69

LOW

11.69

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 11.69
PREVIOUS CLOSE 12.30
VOLUME 2
52-Week high 15.22
52-Week low 8.50
P/E
Mkt Cap.(Rs cr) 5.74
Buy Price 0.00
Buy Qty 0.00
Sell Price 11.69
Sell Qty 195.00
OPEN 11.69
CLOSE 12.30
VOLUME 2
52-Week high 15.22
52-Week low 8.50
P/E
Mkt Cap.(Rs cr) 5.74
Buy Price 0.00
Buy Qty 0.00
Sell Price 11.69
Sell Qty 195.00

Alchemist Corporation Ltd. (ALCHEMISTCORP) - Auditors Report

Company auditors report

To the Members of M/s Alchemist Corporation Limited Report on the Standalone FinancialStatements

We have audited the accompanying standalone financial statements of ALCHEMISTCORPORATION LIMITED ( Formerly known as Haryana Fibres Limited) "TheCompany" which comprise the Balance Sheet as at 31 March 2015 the Statement ofProfit and Loss the Cash Flow Statement for the year then ended and a summary of thesignificant accounting policies and other explanatory information

Management's Responsibility for the Standalone Financial Statements

The Company's Board of Directors is responsible for the matters stated in Section134(5) of the Companies Act 2013 ("the Act") with respect to the preparation ofthese standalone financial statements that give a true and fair view of the financialposition financial performance and cash flows of the Company in accordance with theaccounting principles generally accepted in India includingthe Accounting Standardsspecified under Section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules2014 (as amended). This responsibility also includes maintenance of adequate accountingrecords in accordance with the provisions of the Act for safeguarding the assets of theCompany and for preventing and detecting frauds and other irregularities; selection andapplication of appropriate accounting policies; making judgments and estimates that arereasonable and prudent; and design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe financial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error

Auditor's Responsibility

Our responsibility is to express an opinion on these standalone financial statementsbased on our audit .We have taken into account the provisions of the Act the accountingand auditing standards and matters which are required to be included in the audit reportunder the provisions of the Act and the Rules made thereunder. Those Standards requirethat we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether the standalone financial statements are free frommaterial misstatement

We conducted our audit in accordance with the Standards on Auditing specified undersection 143(10) of the Act. Those Standards require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetherthe financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures in the financial statements. The procedures selected depend on theauditor's judgment including the assessment of the risks of material misstatement of thefinancial statements whether due to fraud or error. In making those risk assessments theauditor considers internal financial controls relevant to the Company's preparation of thefinancial statements that give a true and fair view in order to design audit proceduresthat are appropriate in the circumstances but not for the purpose of expressing anopinion on whether the Company has in place an adequate internal financial controls systemover financial reporting and the operating effectiveness ofsuch controls. An audit alsoincludes evaluating the appropriateness of the accounting policies used and thereasonableness of the accounting estimates made by the Company's Directors as well asevaluating the overall presentation of the financial statements

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the standalone financial statements

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us except for the effects the aforesaid standalone financial statements give theinformation required by the Act in the manner so required and give a true and fair view inconformity with the accounting principles generally accepted in India;

a) in the case of the Balance Sheet of the state of affairs of the Company as at March312015;

b) in the case of the Statement of Profit and Loss of the profit for the year ended onthat date; and

c) in the case of the Cash Flow Statement of the cash flows for the year ended on thatdate.

Report on Other Legal and Regulatory Requirements

As required by the Companies (Auditor's Report) Order 2015 ("the Order")issued by the Central Government of India in terms of Section 143(11) of the Act we givein the Annexure a statement on the matters specified in paragraphs 3 and 4 of the Order

As required by Section143(3) of the Act we report that

(a) we have sought and obtained all the information and explanations which to the bestof our knowledge and belief were necessary for the purpose of our audit

(b) in our opinion proper books of account as required by law have been kept by theCompany so far as it appears from our examination of those books.

(c) The Balance Sheet the Statement of Profit and Loss and the Cash Flow Statementdealt with by this Report are in agreement with the books of account.

(d) In our opinion the aforesaid standalone financial statements comply with theAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014

(e) on the basis of the written representations received from the directors as on 31March 2015 and taken on record by the Board of Directors none of the directors isdisqualified as on 31 March 2015 from being appointed as a director in terms ofSection164(2) of the Act

(f) with respect to the other matters to be included in the Auditor's Report inaccordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinionand to the best of our information and according to the explanations given to us

(a) the Company does not have any pending litigations which would impact its standalonefinancial position

(b) the Company did not have any long-term contracts including derivative contracts forwhich there were any material foreseeable losses

(c) There were no amounts which were required to be transferred to the InvestorEducation and Protection Fund by the Company.

For AAA M &CO.
CHARTERED ACCOUNTANTS
Sd/-
(CA RAHUL GUPTAACA)
PARTNER
M.No. 419625
Date : 30.05.2015
Place : NOIDA

Annexure referred to in paragraph [1] of the Our Report on other legal & regulatoryrequirements on

the even date:

(i) (a) The Company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets.

(b) The fixed assets have been physically verified by the management during the yearand no material discrepancies were noticed on such verification. In our opinion thefrequency of verification of the fixed assets is reasonable having regard to the size ofthe Company and the nature of its assets.

(ii) The Company does not have any tangible inventory. Accordingly the provisions ofclause 3(ii) of the Order are not applicable.

(iii) The Company has not granted any loan secured or unsecured to companies firms orother parties covered in the register maintained under Section 189 of the Act.Accordingly the provisions of clauses 3(iii)(a) and 3(iii)(b) of the Order are notapplicable.

(iv) In our opinion there is an adequate internal control system commensurate with thesize of the Company and the nature of its business for the purchase of inventory and fixedassets and for the sale of goods and services. During the course of our audit no majorweakness has been noticed in the internal control system in respect of these areas.

(v) The Company has not accepted any deposits within the meaning of Sections 73 to 76of the Act and the Companies (Acceptance of Deposits) Rules 2014 (as amended) .Accordingly the provisions of clause 3(v) of the Order are not applicable.

(vi) As per information & explanation given by the management maintenance of costrecords has not been prescribed by the Central Government under sub-section (1) of section148 of the Act.

(vii) Undisputed statutory dues including provident fund employees' state insuranceincome-tax sales-tax wealth tax service tax duty of customs duty of excise valueadded tax cess and other material statutory dues as applicable have generally beenregularly deposited with the appropriate authorities though there has been a slight delayin a few cases. Further no undisputed amounts payable in respect thereof were outstandingat the year-end for a period of more than six months from the date they became payable

(viii) The Company has no dues payable to a financial institution or a bank ordebenture-holders during the year. Accordingly the provisions of clause 3(ix) of theOrder are not applicable.

(ix) The Company has not given any guarantees for loans taken by others from banks orfinancial institutions. Accordingly the provisions of clause 3(x) of the Order are notapplicable.

(x) The Company did not have any term loans outstanding during the year. Accordinglythe provisions of clause 3(xi) of the Order are not applicable

(xi) No fraud on or by the Company has been noticed or reported during the periodcovered by our audit

For AAA M &CO.
CHARTERED ACCOUNTANTS
Sd/-
(CA RAHUL GUPTAACA)
PARTNER
Date : 30.05.2015 M.No. 419625
Place : NOIDA

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