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Aurangabad Paper Mills Ltd.

BSE: 502352 Sector: Industrials
NSE: AURANPAPER ISIN Code: INE525C01014
BSE LIVE 13:48 | 11 Jul Stock Is Not Traded.
NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 1.64
PREVIOUS CLOSE 1.57
VOLUME 10000
52-Week high 1.64
52-Week low 1.29
P/E
Mkt Cap.(Rs cr) 0.95
Buy Price 1.64
Buy Qty 1000.00
Sell Price 0.00
Sell Qty 0.00
OPEN 1.64
CLOSE 1.57
VOLUME 10000
52-Week high 1.64
52-Week low 1.29
P/E
Mkt Cap.(Rs cr) 0.95
Buy Price 1.64
Buy Qty 1000.00
Sell Price 0.00
Sell Qty 0.00

Aurangabad Paper Mills Ltd. (AURANPAPER) - Auditors Report

Company auditors report

To

The Members of

AURANGABAD PAPER MILLS LIMITED

Report on the Financial Statements

1. We have audited the accompanying Standalone Financial Statements of AURANGABAD PAPERMILLS LIMITED (the Company) which comprises the Balance Sheet as at March 31st2015 and the Statement of Profit and Loss and Cash Flow Statement for the year then endedand a summary of significant accounting policies and other explanatory information.

Management's Responsibility for the Financial Statements

2. 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 preparationand presentation of these Standalone Financial Statements that give a true and fair viewof the financial position financial performance and cash flows of the Company inaccordance with the accounting principles generally accepted in India including theAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014. This responsibility also includes maintenance of adequateaccounting records in accordance with the provision of the Act for safeguarding of theassets of the Company and for preventing and detecting the frauds and otherirregularities; selection and application of appropriate accounting policies; makingjudgement and estimates that are reasonable and prudent; and design implementation andmaintenance of adequate internal financial control that were operating effectively forensuring the accuracy and completeness of the accounting records relevant to thepreparation and presentation of the Financial Statements that give a true and fair viewand are free from material misstatement whether due to fraud or error.

Auditor's Responsibility

3. 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 Audit Report underthe provisions 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 Companies Act 2013. 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 misstatements.

4. An Audit involves performing procedures to obtain Audit evidence about the amountsand 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 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 control 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.

5. 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

6. In our opinion and to the best of our information and according to the explanationsgiven to us the Standalone 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 March31st 2015 and its loss and its cash flows for the year ended on that date..

Report on other Legal and Regulatory Requirements

7. 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 the paragraphs 3and 4 of the said Order.

8. 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 Accounts as required by law have been kept by theCompany so far as appears from our examination of those Books;

c) The Balance Sheet Statement of Profit and Loss and Cash Flow Statement dealt withby this Report are in agreement with the Books of Accounts;

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 written representations received from the Directors as on March31st 2015 and taken on record by the Board of Directors none of the Directors isdisqualified as on March 31st 2015 from being appointed as a Director in terms ofSection 164(2) of the Act;

f) With respect to other matters to be included in the Auditor's Report in accordancewith Rule 11 of Companies (Audit and Auditors) Rules 2014 in our opinion and to the bestof our information and according to the explanations given to us:

i) The Company does not have any pending litigations which would impact its financialposition.

ii) The Company did not have any long term contracts including derivative contracts; assuch the question of commenting on any material foreseeable losses thereon does not arise.

iii) There has not been an occasion in case of the Company during the year under reportto transfer any sums to the Investor Education and Protection Fund. The question of delayin transferring sums does not arise.

For Sunil Adavade & Co.
Chartered Accountants
FRN: 121360W
-Sd/-
Sunil Shivram Adavade
(Proprietor)
Membership No. : 109964
Place: Mumbai
Date: 29th May 2015

The Annexure referred to in paragraph 7 of our Report of even date to the Members ofAURANGABAD PAPER MILLS LIMITED on the Standalone Financial Statements for the year ended31st March 2015.

On the basis of such checks as we considered appropriate and according to theinformation and explanation given to us during the course of our Audit we report that:

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

(b) As explained to us Fixed Assets have been physically verified by the Management atregular intervals; as informed to us no material discrepancies were noticed on suchverification;

2. (a) As explained to us inventories have been physically verified during the year bythe Management at reasonable intervals.

(b) In our opinion and according to the information and explanations given to us theprocedures of physical verification of inventories followed by the Management arereasonable and adequate in relation to the size of the Company and the nature of itsbusiness;

(c) In our opinion and on the basis of our examination of the records the Company isgenerally maintaining proper records of its inventories. No material discrepancy wasnoticed on physical verification of stocks by the Management as compared to book records.

3. According to the information and explanations given to us and on the basis of ourexamination of the Books of Accounts the Company has not granted any Loans Secured orUnsecured to Companies Firms or other parties listed in the Register maintained underSection 189 of the Act.

4. In our opinion and according to the information and explanations given to us thereis adequate internal control system commensurate with the size of the Company and thenature of its business for the purchase of Fixed Assets & for the sale. Further onthe basis of our examination of the books and records of the Company and according to the information and explanations given to us no majorweakness has not been noticed or reported.

5. The Company has not accepted any deposits from the Public covered under Section 73and 76 of the Companies Act 2013.

6. In our opinion and as per information & explanation given by the Managementmaintenance of cost records under subSection (1) Section 148 are not applicable to theCompany.

7. (a) According to the information and explanations given to us and based on therecords of the Company examined by us the Company is regular in depositing undisputedstatutory dues including Provident Fund Employees' State Insurance Income-tax Sales-tax Wealth Tax Service Tax Custom Duty Excise Duty and other material statutory duesas applicable with the appropriate authorities in India;

(b) According to the information and explanations given to us and based on the recordsof the Company examined by us there are no dues of Income Tax Wealth Tax Service TaxSales Tax Customs Duty and Excise Duty which have not been deposited on account of anydisputes.

(c) There has not been an occasion in case of the Company during the year under reportto transfer any sum to the Investor Education and Protection Fund. The question ofreporting the delay in transferring such sums does not arise.

8. In our Opinion the Company has accumulated losses at the end of the Financial Yearwhich is more than 50% of its Net Worth as at 31st March 2015 and has incurredcash losses during the current and in the immediately preceding Financial Year.

9. Based on our Audit procedures and on the information and explanations given by theManagement we are of the opinion that the Company has not defaulted in repayment of duesto a Financial Institution Bank or Debenture Holders during the Financial Year covered byour Audit.

10. In our opinion and according to the information and explanations given to us theCompany has not given any guarantee for loans taken by others from a Bank or FinancialInstitutions.

11. Based on our Audit procedures and on the information given by the Management wereport that the Company has not raised any term loans during the year.

12. During the course of our examination of the books and records of the Companycarried in accordance with the auditing standards generally accepted in India we haveneither come across any instance of fraud on or by the Company noticed or reported duringthe course of our audit nor have we been informed of any instance by the Management.

For Sunil Adavade & Co.
Chartered Accountants
FRN: 121360W
-Sd/-
Sunil Shivram Adavade
(Proprietor)
Membership No. :109964
Place: Mumbai
Date: 29th May 2015

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