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B & A Ltd.

BSE: 508136 Sector: Agri and agri inputs
NSE: N.A. ISIN Code: INE489D01011
BSE LIVE 15:58 | 05 Dec 169.80 -2.20
(-1.28%)
OPEN

194.80

HIGH

194.80

LOW

168.25

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 194.80
PREVIOUS CLOSE 172.00
VOLUME 909
52-Week high 265.30
52-Week low 145.00
P/E 12.73
Mkt Cap.(Rs cr) 52.64
Buy Price 0.00
Buy Qty 0.00
Sell Price 169.80
Sell Qty 30.00
OPEN 194.80
CLOSE 172.00
VOLUME 909
52-Week high 265.30
52-Week low 145.00
P/E 12.73
Mkt Cap.(Rs cr) 52.64
Buy Price 0.00
Buy Qty 0.00
Sell Price 169.80
Sell Qty 30.00

B & A Ltd. (BA) - Auditors Report

Company auditors report

TO THE MEMBERS OF B & A LIMITED

Report on the Financial Statements

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

Management’s Responsibility for the Standalone Financial Statements

2. The Company’s Board of Directors is responsible for the matters stated inSection 134(5) of the Companies Act 2013 ("the Act") with respect to thepreparation of these standalone financial statements that give a true and fair view of thefinancial position financial performance and cash flows of the Company in accordance withthe accounting principles generally accepted in India including the Accounting Standardsspecified under Section 133 of the Act read with Rule 7 of the Companies (Accounts) Rule2014 This responsibility also includes maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding of the assets of the Companyand for preventing and detecting frauds and other irregularities; selection andapplication of appropriate accounting policies; making judgments and estimates that arereasonable and p rudent and design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe financial statements that give a true and fair view and are free from materialmisstatement 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.

4. 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.

5. 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

6. An audit involves performing procedures to obtain audit evidence about the amountsand the disclosures 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 financial control relevant to the Company’spreparation of the financial statements that give a true and fair view in order to designaudit procedures that are appropriate in the circumstances. An audit also includesevaluating the appropriateness of the accounting policies used and the reasonableness ofthe accounting estimates made by the Company’s Directors as well as evaluating theoverall presentation of the financial statements.

7. 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

8. In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone financial statements give the information requiredby the Act in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India of the state of affairs of the Companyas at 31st March 2015 and its profit and its cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements

9. As required by ‘the Companies (Auditor’s Report) Order 2015 issued bythe Central Government of India in terms of sub-section (11) of section 143 of the Act(hereinafter referred to as the

"Order") and on the basis of such checks of the books and records of theCompany as we considered appropriate and according to the information and explanationsgiven to us we give in the Annexure a statement on the matters specified in paragraphs 3and 4 of the Order.

10. 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 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 the written representations received from the directors as on 31stMarch 2015 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2015 from being appointed as a director in terms of Section164 (2) of the Act.

11. With respect to the other matters to be included in the Auditor’s 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:

(a) the Company has disclosed liabilities of a contingent nature and claims notacknowledged by it (refer Note 27-4) the quantum of which however are in our opinionnot such as would impact the financial position of the Company

(b) the Company did not have any long-term contracts including derivative contracts forwhich there were any material foreseeable losses and

(c) there were no amounts which were required to be transferred to the InvestorEducation and Protection Fund by the Company.

For Ghosal Basu & Ray

Chartered Accountants

Firm Regn. No. 315080E

A. Ray

Partner

Membership No. 52204

Place of signature : Kolkata

Date : 26th May 2015

Annexure to Independent Auditors’ Report

[Referred to in paragraph 9 of the Independent Auditors’ Report of even date tothe members of B & A Limited on the standalone financial statements as of and for theyear ended 31st March 2015] i. (a) The Company is maintaining proper records showing fullparticulars including quantitative details and situation of fixed assets.

(b) Ac c ord in g t o t h e M an ag ement ’s representation to us fixed assetsare physically verified by the Management according to a phased programme designed tocover all the items over a period of three years which in our opinion is reasonablehaving regard to the size of the Company and the nature of its assets. We are informedthat pursuant to the programme a portion of the fixed assets has been physicallyverified by the Management during the year and no material discrepancies have been noticedon such verification.

ii. (a) Except for inventory lying with third parties the other inventory has beenphysically verified by the Management during the year.

In our opinion except for inventory lying with third parties the frequency ofverification is reasonable.

(b) In our opinion the procedures of physical verification of inventory followed bythe Management are reasonable and adequate in relation to the size of the Company and thenature of its business.

(c) On the basis of our examination of the inventory records in our opinion theCompany is maintaining proper records of inventory. The discrepancies noticed on physicalverification of inventory as compared to book records were not material.

iii. The Company has granted unsecured loans to a company covered in the registermaintained under Section 189 of the Act. In respect of this loan the party is repayingthe principal amount as stipulated and is also regular in payment of interest asapplicable. iv. In our opinion and according to the information and explanations givento us there is an adequate internal control system commensurate with the size of theCompany and the nature of its business for the purchase of inventory and fixed assets andfor the sale of goods and services. Further on the basis of our examination of the booksand records of the Company and according to the information and explanations given to uswe have neither come across nor have been informed of any continuing failure to correctmajor weaknesses in the aforesaid internal control system.

v. The Company has not accepted any deposits from the public within the meaning ofSections 73 75 and 76 of the Act and the rules framed thereunder. In respect of depositsaccepted prior to the commencement of the Act the Company has complied with theprovisions of Section 74 of the said Act and Rules and repaid them in accordancetherewith.

vi. The Company is not required to maintain cost records as specified under sub-section(ii) of section 148 of the act for the financial year ended 31st March 2015.

vii. (a) Acc ord ing to t he information and explanations given to us and the recordsof the Company examined by us in our opinion the Company is regular in depositing theundisputed statutory dues including provident fund employees’ state insuranceincome tax sales tax wealth tax service tax duty of customs duty of excise valueadded tax cess and other material statutory dues as applicable with the appropriateauthorities.

(b) Acc ord ing to t he information and explanations given to us and the records of theCompany examined by us there are no dues of income-tax sales-tax wealth-taxservice-tax duty of customs and duty of excise or value added tax or cess which have notbeen deposited on account of any dispute.

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

viii. The Company has no accumulated losses as at the end of the financial year and ithas not incurred any cash losses in the financial year ended on that date or in theimmediately preceding financial year.

ix. According to the records of the Company examined by us and the information andexplanation given to us the Company has not defaulted in repayment of dues to anyfinancial institution or bank or debenture holders as at the balance sheet date.

x. 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 banks or financialinstitutions during the year. Accordingly the provisions of Clause 3(x) of the Order arenot applicable to the Company xi. In our opinion and according to the information

and explanations given to us the term loans have been applied for the purposes forwhich they were obtained.

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 material fraud on or by the Company noticed or reported during the year norhave we been informed of any such case by the Management.

For Ghosal Basu & Ray

Chartered Accountants

Firm Regn. No. 315080E

A. Ray

Partner

Membership No. 52204

Place of signature : Kolkata

Date : 26th May 2015

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