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Archies Ltd.

BSE: 532212 Sector: Others
NSE: ARCHIES ISIN Code: INE731A01020
BSE LIVE 15:43 | 09 Dec 27.60 -1.30
(-4.50%)
OPEN

28.80

HIGH

29.10

LOW

27.00

NSE LIVE 15:31 | 09 Dec 27.55 -1.30
(-4.51%)
OPEN

29.50

HIGH

29.70

LOW

27.05

OPEN 28.80
PREVIOUS CLOSE 28.90
VOLUME 149960
52-Week high 34.35
52-Week low 18.70
P/E
Mkt Cap.(Rs cr) 93.29
Buy Price 0.00
Buy Qty 0.00
Sell Price 27.60
Sell Qty 1150.00
OPEN 28.80
CLOSE 28.90
VOLUME 149960
52-Week high 34.35
52-Week low 18.70
P/E
Mkt Cap.(Rs cr) 93.29
Buy Price 0.00
Buy Qty 0.00
Sell Price 27.60
Sell Qty 1150.00

Archies Ltd. (ARCHIES) - Auditors Report

Company auditors report

To The Members of ARCHIES LIMITED

Report on the Financial Statements

We have audited the accompanying financial statements of ARCHIES LIMITED ("theCompany") which comprise the Balance Sheet as at 31 March 2015 and the Statementof Profit and Loss and Cash Flow Statement for the year then ended and a summary ofsignificant accounting policies and other explanatory information incorporating theBranch Auditors' Report of Mumbai Pune Goa Indore Ahmedabad Chennai ChandigarhHyderabad Ludhiana Kolkata Bhubaneswar Ernakulam and Bangalore Branches.

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. Thisresponsibility also includes maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding the assets of the Company and for preventingand detecting frauds and other irregularities; selection and application of appropriateaccounting policies; making judgments and estimates that are reasonable and prudent; anddesign implementation and maintenance of adequate internal financial controls that wereoperating effectively for ensuring the accuracy and completeness of the accountingrecords relevant to the preparation and presentation of the financial statements thatgive a true and fair view and are free from material misstatement whether due to fraud orerror.

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 anddisclosures in the financial statements. The procedures selected depend on the auditor'sjudgment including the assessment of the risks of material misstatement of the financialstatements whether due to fraud or error. In making those risk assessments the auditorconsiders internal financial control relevant to the Company's preparation of thefinancial statements that give true and fair view in order to design audit procedures thatare appropriate in the circumstances but not for the purpose of expressing an opinion onwhether the Company has in place an adequate internal financial controls system overfinancial reporting and the operating effectiveness of such controls. An audit alsoincludes evaluating the appropriateness of accounting policies used and the reasonablenessof the accounting estimates made by Company's Directors as well as evaluating the overallpresentation 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 aforesaid financial statements give the information required by the Actin the manner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India of the state of affairs of the Company as at 31March 2015 and its profit and its cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2015 ("the Order")issued by the Central Government of India in terms of sub-section (11) of section 143 ofthe Act we give in the Annexure a statement on the matters specified in paragraphs 3 and4 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 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 and proper returnsadequate for the purposes of our audit have been received from the branches not visited byus;

(c) The report on the accounts of the branch offices of the Company audited undersection 143 (8) of the Act by branch auditors have been sent to us and have been properlydealt with by us in preparing this report;

(d) The Balance Sheet the Statement of Profit and Loss and Cash Flow Statement dealtwith by this Report are in agreement with the books of account and with the returnsreceived from the branches not visited by us;

(e) In our opinion the aforesaid financial statement comply with the AccountingStandards spcified under section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014;

(f) On the basis of written representations received from the directors as on 31 March2015 taken on record by the Board of Directors none of the directors is disqualified ason 31 March 2015 from being appointed as a director in terms of Section 164(2) of theAct;

(g) With respect to the other matters to be included in the Auditors' 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:

i. The Company has disclosed the impact of pending litigations on its financialposition in its financial statements — Refer Note 28 to the financial statements;

ii. The Company did not have any long-term contracts including derivatives contractsfor which there were any material foreseeable losses;

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

For UBEROI SOOD & KAPOOR
CHARTERED ACCOUNTANTS
(Firm Registration No. 001462N)
S.D. SHARMA
Place: New Delhi PARTNER
Date: 20 May 2015 (M. No. 80399)

ANNEXURETOTHE INDEPENDENT AUDITORS' REPORT

Annexure referred to in paragraph 1 under the heading "Report on Other Legal andRegulatory Requirements" of our report of even date

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

(b) All the fixed assets have been physically verified by the management during theyear. There is a regular programme of verification which in our opinion is reasonablehaving regard to the size of the company and nature of its fixed assets. No materialdiscrepancies were noticed on such verification.

ii. (a) The inventory has been physically verified by the management at reasonableintervals.

(b) The procedures of physical verification of inventories followed by the managementare reasonable and adequate in relation to the size of the company and the nature of itsbusiness.

(c) On the basis of our examination of the records of inventory we are of the opinionthat the company is maintaining proper records of inventory. The discrepancies noticed onverification between the physical stocks and book records were not material.

iii. The company has not granted any loans secured or unsecured to the companiesfirms or other parties covered in the register maintained under section 189 of theCompanies Act 2013. Accordingly sub-clauses (iii)(a) and sub-clauses (in)(b) ofparagraph 3 of the order are not applicable to the company.

iv. In our opinion and according to the information and explanations given to us thereis an adequate internal control system commensurate with the size of the company and thenature of its business for the purchase of inventory and fixed assets and for the sale ofgoods and services.

v. The company has not accepted any deposits from the public to which the provisions ofsection 73 to 76 or any other relevant provision of the Companies Act 2013 and the rulesframed there under would apply.

vi. The Central Government has not prescribed maintenance of cost records under section148 (1) of the Companies Act 2013 in respect of the products of the company.

vii. (a) According to the records of the company the company is regular in depositingwith appropriate authorities undisputed statutory dues including provident fundemployees' state insurance income tax sales tax wealth tax service tax duty ofcustom duty of excise value added tax cess and other statutory dues applicable to itexcept in few cases where there is a delay in deposit. According to the information andexplanations given to us no undisputed amounts payable in respect of provident fundemployees' state insurance income tax sales tax wealth tax service tax duty ofcustom duty of excise value added tax cess and other statutory dues applicable to itwere outstanding as at 31 March 2015 for a period of more than six months from the datethey became payable; except an amount for Rs.5.81 Lacs payable towards Entry tax atKolkata Branch as this matter is sub-judice before the Hon'ble Calcutta High Court forstriking down such tax.

(b) According to the records of the company there are no dues of income tax salestax wealth tax service tax duty of custom duty of excise value added tax and cesswhich have not been deposited with the appropriate authorities on account of any disputeexcept the following:-

Nature of the Statutory Dues Amount (Rs. in Lacs) Period to which the amount relates Forum where the dispute is pending
Income Tax 340.27 Block Period Ending 31.3.2000 High Court Delhi
VAT 0.99 Financial year 2009-10 and 2012-13 Department of Commercial Taxes Ernakulam (Edappally)

(c) There were no amounts which were required to be transferred to the InvestorEducation and Protection Fund by the Company in accordance with the relevant provisions ofthe Companies Act 1956 (1 of 1956) and the rules made thereunder.

viii. The company does not have accumulated losses. The company has not incurred anycash loss during the financial year covered by our audit and in the immediately precedingfinancial year.

ix. The company has not defaulted in repayment of dues to a financial institution orbanks.

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

xi. According to the information and explanations given to us on an overall basis theterm loans have been applied for the purpose for which they were raised.

xii. During the course of our examination of the books and records of the Companycarried out in accordance with the generally accepted auditing practices in India andaccording to the information and explanations given to us we have neither come across anyinstance of fraud on or by the Company noticed or reported during the year nor have webeen informed of such case by the Management.

For UBEROI SOOD & KAPOOR
CHARTERED ACCOUNTANTS
(Firm Registration No. 001462N)
S.D. SHARMA
Place: New Delhi PARTNER
Date: 20 May 2015 (Membership No. 80399)

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