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Amco India Ltd.

BSE: 530133 Sector: Industrials
NSE: N.A. ISIN Code: INE924B01011
BSE LIVE 15:14 | 08 Dec 17.15 0.75
(4.57%)
OPEN

17.15

HIGH

17.15

LOW

17.15

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 17.15
PREVIOUS CLOSE 16.40
VOLUME 491
52-Week high 23.35
52-Week low 13.05
P/E 12.80
Mkt Cap.(Rs cr) 7.05
Buy Price 17.15
Buy Qty 209.00
Sell Price 0.00
Sell Qty 0.00
OPEN 17.15
CLOSE 16.40
VOLUME 491
52-Week high 23.35
52-Week low 13.05
P/E 12.80
Mkt Cap.(Rs cr) 7.05
Buy Price 17.15
Buy Qty 209.00
Sell Price 0.00
Sell Qty 0.00

Amco India Ltd. (AMCOINDIA) - Auditors Report

Company auditors report

To the Members of Amco India Limited

We have audited the accompanying financial statements of Amco India Limited (TheCompany) which comprise the balance sheet as at March 31 2015 the statement of Profitand Loss & the cash flow statement for the year then ended and a Summary ofsignificant accounting polices and other explanatory information.

Management's Responsibility for the 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 financial statements that give a true and fair view of the financial positionfinancial performance and cash flows of the Company in accordance with the accountingprinciples generally accepted in India including the Accounting Standards specified underSection 133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014.

This responsibility also includes maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding the assets of the Company andfor preventing and detecting frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of adequate internal financialcontrols that were operating effectively for ensuring the accuracy and completeness ofthe accounting records relevant to the preparation and presentation of the financialstatements that give a true and fair view and are free from material misstatement whetherdue to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these financial statements based on ouraudit. We have taken into account the provisions of the Act the accounting and auditingstandards and matters which are required to be included in the audit report under theprovisions of the Act and the Rules made there under.

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 control 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 of such controls.

An audit also includes evaluating the appropriateness of the accounting policies usedand the reasonableness of the accounting estimates made by the Company's Directors aswell as evaluating 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 financial statements.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the financial statements give the information required by the Act in themanner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India:

i) In the case of the Balance Sheet of the state of affairs of the Company as at March31 2015 and

ii) In the case of the Statement of Profit and Loss of the profit for the year endedon that date;

iii) In the case of Cash Flow Statement of the cash flows during the year ended onthat date.

Report on Other Legal and regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2015 (the Order) issued bythe Central Government in terms of subsection 11 of section 143 of the Act we give in theAnnexure a statement on the matters specified in paragraphs 3 and 4 of the Order.

2. As required by Section 143 (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 purposes 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 financial statements comply with the AccountingStandards specified under Section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014.

(e) On the basis of written representations received from the directors as on March 31.2015 taken on record by the Board of Directors none of the directors is disqualified ason March 31 2015 from being appointed as a director in terms of Section 164(2) of theAct.

For V. V. KALE & Co.
Chartered Accountants
FRN : 000897N
SD/-
PLACE : Noida U.P. VIJAY V. KALE
DATE : 30.05.2015 (Partner)
M. No. 080821

ANNEXURE TO INDEPENDENT AUDITORS' REPORT

)Referred to in Paragraph (1) under the heading of "Report on Other Legal andRegulatory Requirements" of our report of even date)

The Annexure referred to in our report to the members of Amco India Limited (theCompany') for the year Ended on 31 March 2015. We report that:

(i) (a) The company is maintaining proper records showing full particulars includingquantitative details and situation of fixed assets;

(b) As explained to us major fixed assets have been physically verified by themanagement in a phased &reasonable manner which in our opinion is reasonable asconsidered appropriate by the management. We have been explained that no materialdiscrepancies were noticed on such verification as compared to book records.

(ii) (a) The inventory of the Company except for the inventory with third parties& material in transit has been physically verified by the management at reasonableintervals.

(b) The procedure of physical verification of inventory followed by the Management isin our opinion reasonable and adequate in relation to the size of the Company and thenature of its business.

(c) In our opinion and according to the information and explanation given to us theCompany is maintaining proper records of inventory. As per the information andexplanations given to us the company had undertaken extensive stock verification duringthe year. Discrepancies noticed during physical verification of inventory were notmaterial & have been properly dealt with in the accounts.

(iii) The company has not granted any loans secured or unsecured to companies firmsor other parties covered in the register maintained under section 189 of the CompaniesAct.

(iv) According to the information and explanations given to us there is an adequateinternal control system commensurate with the size of the company and the nature of itsbusiness for the purchase of fixed assets and for sale of goods.

(v) The company has not accepted any deposits from the public thus Paragraph 3(v) ofOrder is not applicable.

(vi) The central government has not prescribed maintenance of cost records for theCompany under Section 148(1) of the Companies Act 2013. Accordingly Paragraph 3(vi) ofthe Order is not applicable.

(vii) (a) The Company is regular in depositing undisputed statutory dues includingprovident fund employees' state insurance income-tax sales-tax wealth tax servicetax duty of customs duty of excise value added tax cess and any other statutory dueswith the appropriate authorities.

(b) According to the information and explanations given to us and the records of thecompany examined by us there are no dues of Sales Tax Income Tax Service Tax and dutiesof excise as at 31 March 2015 which have not been deposited on account of any dispute.

(c) No amount is required to be transferred to investor education and protection fundand thus Paragraph 3(vii)(c) of the Order is not applicable.

(viii) As at the end of the period covered by the audit the Company does not have anyaccumulated losses. During the financial year ended 31 March 2015 the Company has notincurred any cash loss. The Company had incurred

a cash loss of Rs. 32758096 in the immediately preceding financial year.

(ix) The company has not defaulted in repayment of dues to a financial institution orbank or debenture holders.

(x) The company has not given any guarantee for loans taken by others from bank orfinancial institutions.

(xi) The Company has applied term loans for the purpose for which they had beenobtained.

(xii) No fraud on or by the company has been noticed of reported during the year.

For V. V. KALE & Co.
Chartered Accountants
FRN : 000897N
SD/-
PLACE : Noida U.P. VIJAY V. KALE
DATE : 30.05.2015 (Partner)
M. No. 080821

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