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Bharat Agri Fert & Realty Ltd.

BSE: 531862 Sector: Agri and agri inputs
NSE: N.A. ISIN Code: INE842D01011
BSE LIVE 11:17 | 07 Dec 77.20 -3.80
(-4.69%)
OPEN

77.20

HIGH

77.20

LOW

77.20

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 77.20
PREVIOUS CLOSE 81.00
VOLUME 200
52-Week high 126.00
52-Week low 65.30
P/E 74.23
Mkt Cap.(Rs cr) 40.84
Buy Price 77.20
Buy Qty 50.00
Sell Price 81.00
Sell Qty 25.00
OPEN 77.20
CLOSE 81.00
VOLUME 200
52-Week high 126.00
52-Week low 65.30
P/E 74.23
Mkt Cap.(Rs cr) 40.84
Buy Price 77.20
Buy Qty 50.00
Sell Price 81.00
Sell Qty 25.00

Bharat Agri Fert & Realty Ltd. (BHARATAGRI) - Auditors Report

Company auditors report

To the Members of

Bharat Agri Fert and Realty Limited

Report on the Financial Statements

We have audited the accompanying financial statements of Bharat Agri Fert and RealtyLimited (''the Company'') which comprise the Balance Sheet as at 31 st March 2015the Statement of Profit and Loss and the Cash Flow Statement for the year then ended anda summary of the significant accounting policies and other explanatory information.

Management's Responsibility for the Financial Statements

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 preparation andpresentation of these financial statements that give a true and fair view of the financialposition financial performance and cash flows of the Company in accordance with theaccounting principles generally accepted in India including the Accounting Standardsspecified under Section 133 of the Act read with Rule 7 of the Companies (Accounts)Rules 2014. This responsibility also includes maintenance of adequate accounting recordsin accordance with the provisions of the Act for safeguarding 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 prudent; 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

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 andthe 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 a true and fair view in order to design audit proceduresthat 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 the Company's Directors as well as evaluating theoverall 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 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 31 stMarch 2015 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 2015 (''the Order'') issuedby the Central Government of India in terms of sub-section (11) of section 143 of the Actwe give in the Annexure a statement on the matters specified in paragraphs 3 and 4 of theOrder to the extent applicable.

2. 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 financial statements comply with the AccountingStandards specified under Section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014;

e) on the basis of the written representations received from the directors as on 31 stMarch 2015 taken on record by the Board of Directors none of the directors isdisqualified as on 31 st March 2015 from being appointed as a director in terms ofSection 164 (2) of the Act; and f) with respect to the other matters to be included in theAuditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules2014 in our opinion and to the best of our information and according to the explanationsgiven to us:

i. the Company has disclosed the impact of pending litigations as at March 312015 onits financial position in its financial statements as refer Note 29 and Note30;

ii. the Company has made provision as required under the applicable law or accountingstandards for material foreseeable losses on long-term contracts. The Company has notentered into any derivative contract; and

iii. the Company do not have any outstanding amount to be transferred to the InvestorProtection and Education

Fund.

For DESAI SAKSENA & ASSOCIATES
Chartered Accountants
(Firm's Registration No: 102358W)
Alok K. Saksena
Place: Mumbai Partner
Date: 28th May 2015 Membership No: 35170

Annexure to Independent Auditors' Report

(Referred to in Paragraph 1 under the heading of "Report on Other Legal andRegulatory Requirements" of our report of even date)

i. In respect of its fixed assets:

(a) The Company has generally maintained proper records showing full particularsincluding quantitative details and situation of fixed assets on the basis of availableinformation.

(b) The fixed assets are physically verified by the Management according to a phasedprogramme designed to cover all items over a period of three years which in our opinionis reasonable having regard to the size of the Company and the nature of its assets.Pursuant to the programme a portion of the fixed assets has been physically verified bythe Management during the year and no material discrepancies have been noticed on suchverification. ii. In respect of its inventories:

a) The management has conducted physical verification of inventory at reasonableintervals during the year.

(b) In our opinion and according to the information and explanation 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 nature of its business.

(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.

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 Act.Therefore the provisions of Clause 3(iii) (iii)(a) and (iii)(b) of the said Order arenot applicable to the Company.

iv. In our opinion and according to the information and explanations given to ushaving regard to the explanations that some of the items purchased are of special natureand suitable alternative sources are not readily available for obtaining comparablequotations there is an adequate internal control system commensurate with the size of theCompany and the nature of its business with regard to purchase of inventory and fixedassets and the sale of goods. During the course of our audit we have neither come acrossnor have been informed of any continuing failure to correct major weaknesses in aforesaidinternal control systems.

v. In our opinion and according to the information and explanations given to us theCompany has not accepted deposits from the public. Therefore the provisions of the clause3(v) of the Order are not applicable to the Company.

vi. We have broadly reviewed the books of accounts and records maintained by theCompany pursuant to the Companies (Cost Records and audit) Rules 2014 prescribed by theCentral Government under sub section (1) of section 148 of the Act and are of the opinionthat prima facie the prescribed accounts and records have been made and maintained. Thecontent of these accounts and records have not been examined by us. vii. In respect ofstatutory dues :

(a) According to the information and explanations given to us and on the basis of ourexamination of the records of the Company amounts deducted/accrued in the books ofaccount in respect of undisputed statutory dues including Provident fund Employees' StateInsurance Income tax Sales tax Wealth tax Service tax Customs duty Excise dutyValue added tax Cess Professional tax and other material statutory dues have beengenerally regularly deposited during the year by the Company with the appropriateauthorities. According to the information and explanations given to us no undisputedamounts payable in respect of Provident Fund Employees' State Insurance Income taxSales tax Wealth tax Service tax Customs duty Excise duty Value added tax CessProfessional tax and other material statutory dues were in arrears as at March 31 2015for a period of more than six months from the date they became payable.

(b) According to the explanation given to us the Company do not have any disputedstatutory due which has not been deposited on account of dispute.

(c) The Company does not have any outstanding amount to be transferred to the InvestorProtection and Education Fund.

viii. The Company does not have accumulated losses as at the end of the financial year.The Company has not incurred cash losses during the financial year covered by the auditand in the immediately preceding financial year.

ix. In our opinion and according to the information and explanations given to us theCompany has not defaulted in repayment of dues to a bank during the year The Company doesnot have any borrowings from any financial institution and it has not issued anydebentures.

x. In our opinion and according to the information and explanations given to us theCompany has not given any guarantees for loans taken by others from banks or financialinstitutions. Accordingly the provisions of Clause 3(x) of the Order are not applicableto the Company.

xi. The Company has not raised any term loans. Accordingly the provisions of Clause3(xi) of the Order are not applicable to the Company.

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 DESAI SAKSENA & ASSOCIATES
Chartered Accountants
(Firm's Registration No: 102358W)
Alok K. Saksena
Place: Mumbai Partner
Date: 28th May 2015 Membership No: 35170

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