You are here » Home » Companies » Company Overview » Aro Granite Industries Ltd

Aro Granite Industries Ltd.

BSE: 513729 Sector: Others
NSE: AROGRANITE ISIN Code: INE210C01013
BSE LIVE 15:40 | 08 Dec 68.25 0
(0.00%)
OPEN

69.00

HIGH

69.80

LOW

67.15

NSE LIVE 15:42 | 08 Dec 68.55 0.40
(0.59%)
OPEN

70.95

HIGH

70.95

LOW

68.20

OPEN 69.00
PREVIOUS CLOSE 68.25
VOLUME 6811
52-Week high 91.40
52-Week low 37.00
P/E 10.50
Mkt Cap.(Rs cr) 104.42
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 69.00
CLOSE 68.25
VOLUME 6811
52-Week high 91.40
52-Week low 37.00
P/E 10.50
Mkt Cap.(Rs cr) 104.42
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Aro Granite Industries Ltd. (AROGRANITE) - Auditors Report

Company auditors report

To the Members of M/S ARO GRANITE INDUSTRIES LIMITED.

Report on the Financial Statements

We have audited the accompanying financial statements of M/S ARO GRANITE INDUSTRIESLIMITED. which comprise the Balance Sheet as at March 31 2016 the Profitand Loss Statement and Cash Flow Statement for the year then ended and a summary ofsignificant accounting policies and other explanatory information.

Management’s Responsibility for the Financial Statements

Management is responsible for the preparation of these financial statements that give atrue and fair view of the financial position financial performance and cash flows of theCompany in accordance with the Accounting Standards referred to section 133 of theCompanies Act 2013. This responsibility includes the design implementation andmaintenance of internal control relevant to the preparation and presentation of thefinancial 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 financial statements based on ouraudit. We conducted our audit in accordance with the Standards on Auditing issued by theInstitute of Chartered Accountants of India. Those Standards require that We comply withethical requirements and plan and perform the audit to obtain reasonable assurance aboutwhether the 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 theauditor’s judgment including the assessment of the risks of material misstatement ofthe financial statements whether due to fraud or error. In making those risk assessmentsthe auditor considers internal control relevant to the Company’s preparation and fairpresentation of the financial statements in order to design audit procedures that areappropriate in the circumstances. An audit also includes evaluating the appropriateness ofaccounting policies and the reasonableness of the accounting estimates made by managementas 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.

01. 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:

a) in the case of the Balance Sheet of the state of affairs of the Company asat March 31 2016;

b) in the case of the Profit and Loss Statement of the Profit for the yearended on that date; and

c) In the case of Cash Flow Statement of the cash flows for the year ended onthat date.

Report on Other Legal and Regulatory Requirements

01. As required by the Companies (Auditor’s Report) Order 2016 ("theOrder") issued by the Central Government of India in terms of sub-section (11) ofsection 143 of the Companies Act 2015 We give in the Annexure a statement on the mattersspecified in paragraphs 3 and 4 of the Order to the extent applicable.

02. As required by section 143(3) of the Act We report that:

a) We have obtained all the information and explanations which to the best of ourknowledge and belief are 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 appears from our examination of those books

c) the Balance Sheet Profit and Loss Statement and Cash Flow Statement with by thisReport are in agreement with the books of account.

d) in our opinion the Balance Sheet Statement of Profit and Loss and Cash FlowStatement comply with the Accounting Standards referred to section 133 of the CompaniesAct;

e) on the basis of written representations received from the directors as on March 312016 and taken on record by the Board of Directors none of the directors is disqualifiedas on March 31 2016 from being appointed as a director under sub-section (2) of Section164 of the Companies Act 2013;

f) in our opinion the company has adequate internal financial controls system in placeand operating effectiveness of such controls;

For ALOK MITTAL & ASSOCIATES

Firm Reg No. – 005717N

CHARTERED ACCOUNTANTS

ALOK K. MITTAL

(PROPRIETOR)

M.No. 071205

Place : HOSUR

Date : 30.04.2016

Annexure to the Auditors’ Report

Referred to in our report of even date

(i) The Company has maintained proper records of fixed assets showing full particularsincluding quantitative details and situation of fixed assets. All the assets have beenphysically verified by the management during the year and there is a regular programme ofverification which in our opinion is reasonable having regard to the size of the Companyand the nature of its assets.

(ii) According to the information available to us that physical verification ofinventory has been conducted as reasonable intervals by the management and no materialdiscrepancies is noticed on physical verification between the physical stocks and the bookrecords.

(iii) The Company has not granted any loans to the parties covered by clause (76) ofSection 2 of the Companies Act 2013.

(iv) According to the information and explanations given to us the company has notgiven any guarantees for loans taken by others from Banks or Financial institutions.

(v) The Company has not accepted any public deposit so clause (v) is not applicable.

(vi) Pursuant to the provision of sub-section (1) of Section 148 of the Companies Act2013 The company is required to maintain cost records which are being made in respect ofthe business being carried out.

(vii) (a) The company is regular in depositing with appropriate authorities undisputedstatutory dues including Provident Fund Employees’ State Insurance Income TaxSales Tax Wealth Tax Service Tax Duty of Custom Duty of Excise Value Added Tax Cessand other material statutory dues applicable to it. According to information andexplanation 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 are in arrears as at 31st March2016 for a period of more than six months from the date they become payable.

(b) According to the information and explanation given to us there are no materialdues of sale tax income tax custom duty Wealth tax excise duty Value Added Tax andcess which have not been deposited on account of any disputes.

(c) (According to the information and explanation given to us the amount of Rs.287174/- to be transferred to investor education and protection fund in accordance withthe relevant provisions of the Companies Act 1956 (1 of 1956) and rules made thereunderhas been transferred to such fund within time.

(viii) In our opinion and according to the information and explanations given to us thecompany has not defaulted in repayment of dues to banks and other financial institution.

(ix) According to the information and explanations given to us the company has notissued any preferential allotment and Private Placement offer during the period coveredunder audit.

(x) During the period covered under our audit no fraud has been noticed by the companyor by its officers and employees.

(xi) According to the information and explanations given to us due to inadequateprofits the company has paid remuneration to Managing Director and Whole Time Director inexcess of limits prescribed under the provisions of section 197 read with schedule V tothe Companies Act during the period covered under our audit. However the management hasseek the approval from the Central Government to comply with the requirement of theprovision of section 197 of the Companies Act of which approval is awaited.

(xii) According to the information and explanations given to us the company is not aNidhi Company hence clause (xii) is not applicable. (xiii) According to the informationand explanations given to us all transactions with the related parties are in compliancewith section 188 and 177 of Companies Act 2013 have been disclosed in the FinancialStatements etc as required by the accounting standards and Companies Act 2013.

(xiv) According to the information and explanations given to us the company has notissued any preferential allotment and Private Placement offer during the period coveredunder audit.

(xv) According to the information and explanations given to us the company has notentered any non-cash transactions with directors or persons connected with him during theperiod covered under audit.

(xvi) According to the information and explanations given to us the company is notrequired to be registered under section 45-IA of the Reserve Bank of India Act 1934 henceclause (xvi) is not applicable

For ALOK MITTAL & ASSOCIATES

Firm Reg No. – 005717N

CHARTERED ACCOUNTANTS

ALOK K. MITTAL

(PROPRIETOR)

M.No. 071205

Place : HOSUR

Date : 30.04.2016

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard