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Bhilwara Technical Textiles Ltd.

BSE: 533108 Sector: Industrials
NSE: N.A. ISIN Code: INE274K01012
BSE LIVE 13:28 | 08 Dec 8.11 -0.89
(-9.89%)
OPEN

9.00

HIGH

9.00

LOW

8.11

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 9.00
PREVIOUS CLOSE 9.00
VOLUME 5794
52-Week high 11.90
52-Week low 5.16
P/E 31.19
Mkt Cap.(Rs cr) 47.36
Buy Price 8.11
Buy Qty 177.00
Sell Price 8.49
Sell Qty 1229.00
OPEN 9.00
CLOSE 9.00
VOLUME 5794
52-Week high 11.90
52-Week low 5.16
P/E 31.19
Mkt Cap.(Rs cr) 47.36
Buy Price 8.11
Buy Qty 177.00
Sell Price 8.49
Sell Qty 1229.00

Bhilwara Technical Textiles Ltd. (BHILWARATECH) - Auditors Report

Company auditors report

To the members of

Bhilwara Technical Textiles Limited Report on the financial statements

We have audited the accompanying financial statements of Bhilwara Technical TextilesLimited ("the Company") which comprise the Balance Sheet as at March 312015 the Statement of Profit and Loss the Cash Flow Statement for the year then endedand a 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 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 the Accounting Standards specified underSection 133 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; anddesign 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 andthe 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 assessments the auditor considers internal financial controlrelevant to the Company’s preparation of the financial statements that give a trueand fair view in order to design audit procedures that are appropriate in thecircumstances but not for the purpose of expressing an opinion on whether the Company hasin place an adequate internal financial controls system over financial reporting and theoperating effectiveness of such controls. An audit also includes evaluating theappropriateness of the accounting policies used and the reasonableness of the accountingestimates made by the Company’s 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 standalone 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 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 ("theOrder") issued by the Central Government of India in terms of sub-section (11) ofsection 143 of the Act we give in the Annexure ‘A’ a statement on the mattersspecified in paragraphs 3 and 4 of the Order.

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 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 termsof Section 164 (2) of the Act.

(f) 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 Ashim & Associates
Chartered Accountants
Firm Registration No.006064N
Ashim Agarwal
Noida (U.P.) Partner
5th May 2015 Membership No.084968

Annexure ‘A’ referred to in paragraph 1 under the heading “Report onother legal and regulatory requirements” of our report of even date to the members ofBhilwara Technical Textiles Limited

1. The company does not have any fixed assets.

Accordingly clause 3 (i) of the Order is not applicable.

2. The Company’s current nature of operations does not require it to holdinventories. Accordingly clause 3 (ii) of the Order is not applicable.

3. According to the information and explanations given to us the company has notgranted any loans secured or unsecured to companies firms or other parties covered inthe register maintained under section 189 of the Companies Act 2013. Accordingly theprovisions of clause 3(iii) (a) to (b) of the Order are not applicable to the company andhence not commented upon.

4. The company has not made any purchases of inventory and fixed assets as well as saleof goods & services during the year. We have not observed any major weakness in theinternal control system during the course of the audit.

5. The company has not accepted any deposits from the public.

6. According to the information and explanations given to us the Central Governmenthas not prescribed the maintenance of cost records under sub-section (1) of section 148 ofthe Companies Act 1956 in respect of activities carried out by the Company

7. (a) According to the records of the Company undisputed statutory dues have beenregularly deposited during the year with the appropriate authorities. According to therecords of the Company and as explained to us the company did not have any dues on accountof provident fund employees’ state insurance sales tax wealth tax duty ofcustoms duty of excise value added tax and cess

(b) According to the information and explanations given to us no undisputed amountspayable in respect of provident fund employees’ state insurance income tax salestax wealth tax service tax duty of customs duty of excise value added tax cess andother material statutory dues were outstanding at the year end for a period of more thansix months from the date they became payable.

(c) According to the information and explanations given to us and the records of thecompany examined by us there were no statutory dues of income-tax sales-tax wealth-taxservice tax duty of customs duty of excise value added tax and cess which have notbeen deposited on account of any dispute.

(d) According to the records of the Company and as explained to us the company did nothave any dues on account of investor education and protection fund.

8. The company did not have any accumulated losses at the end of the financial year.The company has not incurred cash loss in the current financial year and immediatelypreceding financial year.

9. According to the information and explanations given to us and the records of thecompany examined by us the company has not borrowed funds from any financial institutionor bank.

10. According to the information and explanations given to us the company has notgiven any guarantee for loans taken by others from bank or financial institutions.

11. In our opinion and according to the information and explanations given to us theCompany did not raise any term loans from banks / financial institutions during the year.

12. Based on the audit procedures performed and as per the information and explanationsgiven by the management no fraud on or by the Company has been noticed or reported duringthe year.

For Ashim & Associates
Chartered Accountants
Firm Registration No.006064N
Ashim Agarwal
Noida (U.P.) Partner
5th May 2015 Membership No.084968

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