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Aunde India Ltd.

BSE: 532459 Sector: Industrials
NSE: N.A. ISIN Code: INE207D01017
BSE LIVE 10:48 | 09 Dec 48.90 0.10
(0.20%)
OPEN

48.90

HIGH

48.90

LOW

48.90

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 48.90
PREVIOUS CLOSE 48.80
VOLUME 100
52-Week high 58.55
52-Week low 28.00
P/E 25.47
Mkt Cap.(Rs cr) 52.42
Buy Price 47.00
Buy Qty 5.00
Sell Price 48.90
Sell Qty 49.00
OPEN 48.90
CLOSE 48.80
VOLUME 100
52-Week high 58.55
52-Week low 28.00
P/E 25.47
Mkt Cap.(Rs cr) 52.42
Buy Price 47.00
Buy Qty 5.00
Sell Price 48.90
Sell Qty 49.00

Aunde India Ltd. (AUNDEINDIA) - Auditors Report

Company auditors report

To the Members of AUNDE INDIA LIMITED

Report on the Financial Statements

We have audited the accompanying financial statements of AUNDE INDIA LIMITED("the Company") which comprise the Balance Sheet as at March 31 2015 and theStatement of Profit and Loss and Cash Flow Statement for the year then ended and asummary of significant accounting policies and other explanatory information.

Management's Responsibility for the Financial Statements

The Company's Board of Directors are responsible for the matters stated in Section134(5) of the Companies Act 2013 ('the act') with respect to the preparation of thesefinancial statements that give a true and fair view of the financial position financialperformance and cash flows of the Company in accordance with the accounting principlesgenerally accepted in India including the Accounting Standards specified under Section133 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;design 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 thereunder.

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 a true and fair view in order to design audit proceduresthat are appropriate in the circumstances An audit also includes evaluating theappropriateness of accounting policies used and the reasonableness of the accountingestimates made by the Companys’ 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 except for the effect of the matter described in the Basis of QualifiedOpinion above 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 31stMarch 2015 its profit and its cash flows for the year ended on that date.

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 sub-section (11) of section143 ofthe Act we give in the Annexure a statement on the matters specified in paragraphs 3 and4 of the Order.

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;

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 applicableAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014

e. on the basis of written representations received from the directors as on March 312015 and taken on record by the Board of Directors none of the directors is disqualifiedas on March 31 2015 from being appointed as a director in terms of Section 164(2) of theAct.

f. With respect to other matters to be included in the Auditor's Report in accordancewith Rule 11 of the

Companies (Audit and Auditors) Rules 2014 in our opinion and to the best of ourinformation and according to the explanations given to us:

i) As per the best estimates made by the management on the basis of opinion taken theCompany is of the view that the ongoing litigations as at the reporting date would nothave a material impact on its financial position;

ii) Based upon the assessment made by the company there are no material foreseeablelosses on its long term contracts that may require any provisioning.

In view of there being no amount(s) required to be transferred to the InvestorEducation and Protection Fund for the year under audit the reporting under this clause isnot applicable.

For Majibail & Co.
Chartered Accountants
Firm's Registration No. 105970W
M.V. RAO
Place: Mumbai Proprietor
Date: 9th June 2015 Membership No. 7082

ANNEXURE TO INDEPENDENT AUDITORS' REPORT REFERRED TO IN PARAGRAPH 1 UNDER THE HEADINGOF "REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENT" OF OUR REPORT OF EVENDATE.

i. In respect of Fixed Assets

a) The Company has maintained proper records showing full particulars includingquantitative details and situation of its Fixed Assets.

b) As explained to us the major Fixed Assets have been physically verified by theManagement at reasonable intervals during the year. As per the information given to us nomaterial discrepancy has been noticed on such verification.

c) In our opinion the Company has not disposed off substantial part of fixed assetsduring the year and the going concern status of the Company is not affected.

ii. In respect of Inventories

a) As informed to us physical verification of inventories has been conducted by theManagement at the end of the year.

b) Based on the explanations given to us in our opinion the procedure of physicalverification of inventory followed by the management is reasonable and adequate inrelation to the size of the Company and the nature of its business.

c) In our opinion the Company is maintaining proper records of inventory and asexplained to us there were no material discrepancies noticed between the physical stocksand book records.

iii. In respect of loans Secured or Unsecured granted or taken by the Company to /from Companies firms or other parties covered in the register maintained under Section189 of the Companies Act 2013:

a) Based on the audit procedures applied by us and according to the information andexplanations given to us the Company has not granted any loans secured or unsecured toCompanies firms or other parties covered in the register maintained under Section 189 ofthe Companies Act 2013.

b) In view of our comment in (a) above Clause (iii) (a) and (b) of the Order are notapplicable to the Company.

iv. In our opinion and according to the information and explanations given to us thereare adequate internal control procedures commensurate with the size of the Company and thenature of its business with regard to purchase of inventory and fixed assets and for thesale of goods. During the course of our audit we have not observed any continuing failureto correct weaknesses in internal controls.

vi. The Company has not accepted any deposits from the public within the meaning of Sec73 to 76 of the

Act and the Rules framed there under.

vii. The Company has an Internal Audit System which is commensurate with the size ofthe Company and the nature of its business.

vi. We have broadly reviewed the books of accounts maintained by the Company in respectof products where pursuant to the Rules made by the Central Government of India themaintenance of cost records has been prescribed under sub-section (1) of Section 148 ofthe Companies Act 2013 and are of the opinion that prima facie the prescribed accountsand records have been made and maintained. We have however not made a detailedexamination of the records with a view to determine whether they are accurate or complete.

ix. In respect of Statutory dues

a) The Company has been generally regular in depositing undisputed statutory duesincluding Provident Fund Investors Education and Protection Fund Employees StateInsurance Income- Tax Sales-Tax Wealth- tax Customs Duty Excise Duty Cess and otherstatutory dues with the appropriate authorities. According to the information andexplanations given to us no undisputed amounts payable in respect of the aforesaid dueswere outstanding as at 31st March 2015 for a period of more than six months from the datethey became payable.

x. Based on our audit procedures and according to the information and explanationsgiven to us we are of the opinion that the Company has not defaulted in repayment of duesto the financial institutions banks or debenture holders.

xi. According to the information and explanations given to us in our opinion termloans availed by the

Company were prima facie applied by the Company for the purpose for which the loanswere obtained.

xii. During the course of our examination of the books and records of the Companycarried out in accordance with 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 any such case by the management.

For Majibail & Co.
Chartered Accountants
Firm's Registration No. 105970W
M.V. RAO
Place: Mumbai Proprietor
Date: 9th June 2015 Membership No. 7082

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