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BCL Industries & Infrastructures Ltd.

BSE: 524332 Sector: Industrials
NSE: N.A. ISIN Code: INE412G01016
BSE 15:48 | 21 Feb 152.95 -2.00
(-1.29%)
OPEN

156.80

HIGH

157.80

LOW

152.00

NSE 05:30 | 01 Jan BCL Industries & Infrastructures Ltd
OPEN 156.80
PREVIOUS CLOSE 154.95
VOLUME 15030
52-Week high 195.70
52-Week low 48.50
P/E 16.66
Mkt Cap.(Rs cr) 240
Buy Price 152.95
Buy Qty 29.00
Sell Price 0.00
Sell Qty 0.00
OPEN 156.80
CLOSE 154.95
VOLUME 15030
52-Week high 195.70
52-Week low 48.50
P/E 16.66
Mkt Cap.(Rs cr) 240
Buy Price 152.95
Buy Qty 29.00
Sell Price 0.00
Sell Qty 0.00

BCL Industries & Infrastructures Ltd. (BCLINDUSTRIES) - Auditors Report

Company auditors report

To the Members of M/s BCL Industries & Infrastructures Limited Bathinda

Report on the Financial Statements

We have audited the accompanying financial statements of

BCL Industries & Infrastructures Limited Bathinda ("the Company")which comprise the Balance Sheet as at 31st March 2017 the statement of Profit and Lossand Cash Flow Statement for the year then ended and a summary of significant accountingpolicies 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 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 Accounting Standards specified U/s 133of the Act read with Rule 7 of the Companies (Accounts) Rules 2014. This responsibilityincludes maintenance of adequate accounting records in accordance with the provisions ofthe Act for safeguarding of the Assets of the Company and for preventing and detectingfrauds and other irregularities; selection and application of appropriate accountingpolicies; making judgments and estimates that are reasonable and prudent; and designimplementation 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 Rules made there under.

We conducted our audit in accordance with the Standards on Auditing specified U/s143(10) of the Act. Those Standards require that we comply with ethical requirements andplan and perform the audit to obtain reasonable assurance about whether the financialstatements 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 controls relevant to the Company's preparation of thefinancial statements that give a true and fair view in order to design audit procedurethat are appropriate in the circumstances but not for the purpose of expressing anopinion on whether the company has in place an adequate internal financial controls systemover financial 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 management 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 31stMarch 2017 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 2016 ("the Order")as amended issued by the Central Government of India in terms of sub-section (11) ofSection 143 of the Companies Act we give in the Annexure "A" a statement on thematters specified in paragraphs 3 and 4 of the Order to the extent applicable.

2. As required by Section 143(3) of the Act and companies (Audit & Auditors) Rules2014 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 Statement of Profit and Loss and Cash Flow Statement dealt withby this Report are in agreement with the books of account;

d. in our opinion the aforesaid Financial Statements comply with the AccountingStandards specified U/s 133 of the Act read with Rule 7 of the Companies (Accounts) Rule2014.

e. on the basis of the written representations received from the directors as on 31stMarch 2017 and taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2017 from being appointed as a director in terms of subsection (2) of section 164 of the Companies Act.

f. With respect to the adequacy of the internal financial controls over financialreporting of the company and the operating effectiveness of such controls refer to ourseparate report in "Annexure B".

g. 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:

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 forwhich 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 Himanshu & Associates
Chartered Accountants
Firm's Registration No:023826N
(Himanshu Mittal)
Place: Bathinda (Pb.) Proprietor
Dated: 29th May 2017 Membership No. 518041

"Annexure A" to the Independent Auditors' Report

Referred to in paragraph 1 under the heading ‘Report on Other Legal &Regulatory Requirement' of our report of even date to the financial statements of theCompany for the year ended March 31 2017:

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

(b) As explained to us fixed assets have been physically verified by the management atreasonable intervals; no material discrepancies were noticed on such verification.

(c) The title deeds of immovable properties are held in the name of the company.

(ii) (a) The management has conducted the physical verification of Inventory atreasonable intervals during the year and at the year end.

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

(c) In our opinion and according to the information and explanations given to us theCompany has maintained proper records of its inventories and no material discrepancieswere noticed on physical verification of stocks as compared to book records.

(iii) The company has not granted any loans secured or unsecured to companies firmsor other parties covered in the register maintained under Section 189 of the CompaniesAct 2013. Consequently the provisions of clauses iii (a) to iii (c) of the order are notapplicable to the Company hence not commented upon.

(iv) In our opinion and according to the information and explanations given to us thecompany has compiled with the provisions of 185 and 186 of the Companies Act 2013 Inrespect of loans investments guarantees and security.

(v) In our opinion and according to the information and explanation given to us thecompany has accepted the deposits from the public as per directives issued by The ReserveBank of India and the provisions of section 73 to 76 and other relevant provisions of theCompanies Act and the Companies (Acceptance of Deposit) Rules 2015 with regard to thedeposits accepted from the public.

(vi) We have broadly reviewed the cost records maintained by the Company pursuant tothe Companies (Cost Records and Audit) Rules 2014 prescribed by the Central Governmentunder section 148(1) (d) of the Companies Act 2013 and are of the opinion that primafacie the prescribed accounts and cost records have been maintained. We have however notmade a detailed examination of the cost records with a view to determine whether they areaccurate or complete.

(vii) (a) According to the information and explanations given to us and on the basis ofour examination of books of accounts and records the Company is generally regular indepositing undisputed statutory dues including Provident Fund Employees' State InsuranceIncome-tax Sales-tax Wealth Tax Service Tax Duty of Custom Duty of Excise Valueadded tax cess to the extent applicable and any other statutory with the appropriateauthorities. According to the information and explanations given to us there were nooutstanding statutory dues as on 31st day of March 2017 for a period of more than sixmonths from the date they became payable.

(b) According to the information and explanations given to us there is no amountspayable in respect of income tax sales tax wealth tax service tax duty of customsduty of excise or value added tax or cess which have not been deposited on account of anydisputes.

(viii) In our opinion and according to the information and explanations given to usthe Company has not defaulted in repayment of dues to a financial institution bank ordebenture holders.

(ix) Based upon the audit procedures performed and information and explanations givenby the management the company has not raised moneys by way of initial public offer orfurther public offer including debt instruments and term loans. Accordingly theprovisions of clause 3(ix) of the order are not applicable to the company and hence notcommented upon.

(x) Based on the audit procedures performed and the information and explanations givenby the management we report that no fraud by the company or on the company by itsofficers or employees has been noticed or reported during the year.

(xi) Based on the audit procedures performed and the information and explanations givenby the management the managerial remuneration has been paid or provided in accordancewith the requisite approvals mandated by the section 197 read with Schedule V to theCompanies Act;

(xii) In our opinion the Company is not a Nidhi Company. Therefore the provisions ofclause 4(xii) of the Order are not applicable to the Company.

(xiii) In our opinion all transactions with the related parties are in compliance withsection 177 and 188 of the Companies Act 2013 and the details have been disclosed in theFinancial Statements as required by the applicable accounting standards.

(xiv) Based on the audit procedures performed and the information and explanationsgiven by the management the Company has not made any preferential allotment or privateplacement of shares or fully or partly convertible debentures during the year underreview. Accordingly the provisions of clause 3(xiv) of the Order are not applicable tothe Company hence not commented upon.

(xv) Based on the audit procedures performed and the information and explanations givenby the management the company has not entered into any non-cash transactions withdirectors or persons connected with them. Accordingly the provisions of clause 3(xv) ofthe Order are not applicable to the company hence not commented upon.

(xvi) In our opinion the company is not required to be registered under section 45 IAof the Reserve Bank of India Act 1934 and accordingly the provisions of clause 3(xvi) ofthe Order are not applicable to the company hence not commented upon

for Himanshu & Associates
Chartered Accountants
Firm's Registration No:023826N
(Himanshu Mittal) CA
Place: Bathinda (Pb.) Proprietor
Dated: 29th May 2017 Membership No. 518041