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BS Ltd.

BSE: 533276 Sector: Infrastructure
NSE: BSLIMITED ISIN Code: INE043K01029
BSE LIVE 15:29 | 02 Dec 3.54 -0.18
(-4.84%)
OPEN

3.60

HIGH

3.69

LOW

3.54

NSE LIVE 15:56 | 02 Dec 3.50 -0.15
(-4.11%)
OPEN

3.55

HIGH

3.60

LOW

3.50

OPEN 3.60
PREVIOUS CLOSE 3.72
VOLUME 525915
52-Week high 38.75
52-Week low 3.54
P/E
Mkt Cap.(Rs cr) 156.36
Buy Price 0.00
Buy Qty 0.00
Sell Price 3.54
Sell Qty 11228.00
OPEN 3.60
CLOSE 3.72
VOLUME 525915
52-Week high 38.75
52-Week low 3.54
P/E
Mkt Cap.(Rs cr) 156.36
Buy Price 0.00
Buy Qty 0.00
Sell Price 3.54
Sell Qty 11228.00

BS Ltd. (BSLIMITED) - Auditors Report

Company auditors report

To

The Members of BS Limited

REPORT ON THE STANDALONE FINANCIAL STATEMENTS

We have audited the accompanying Standalone Financial Statements of BS Limited(“the Company") which comprises the Balance Sheet as at March 31 2015 theStatement of Profit and Loss and Cash Flow Statement for the year then ended and asummary of 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 of theseStandalone 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 Companies (Accounts) Rules 2014. Thisresponsibility includes maintenance of adequate accounting records in accordance with theprovisions of the Act for safeguarding the Assets of the Company and for preventing anddetecting frauds and other irregularities; Selection and application of appropriateAccounting Policies; Making judgments and estimates that are reasonable and prudent;Design Implementation and Maintenance of adequate Internal Financial Controls that areoperating 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 Standalone Financial Statementsbased on our audit.

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 there under.

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 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 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 March31 2015 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")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 Paragraphs 3 and4 of the Order.

2. As required by Section 143(3) of the Act we further 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 appears from our examination of those books;

c) The Balance Sheet Statement of Profit and Loss and the Cash Flow Statement dealtwith by this Report are in agreement with the Books of Account;

d) In our opinion the aforesaid Financial Statements comply with the applicableAccounting 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 March 312015 and taken on record by the Board of Directors none of the Directors is disqualifiedas on March 31 2015 from being appointed as a Director in terms of Section 164(2) of theAct.

f) With respect to other matters to be included in the Auditor's Report in accordancewith Rule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinion and to thebest 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 LongTerm Contracts including Derivative Contracts forwhich there were any material foreseeable losses.

iii. There has been no delay in transferring amounts required to be transferred tothe Investor Education and Protection Fund by the Company during the year ended March 312015.

For P. Murali & CO.
Chartered Accountants
Firm Registration No : 007257S
P. Murali Mohana Rao
Place: Hyderabad Partner
Date : 20/05/2015 M.No. 023412

ANNEXURE REFERRED TO IN PARAGRAPH 1 OF OUR REPORT OF EVEN DATE TO THE MEMBERS OF BSLIMITED ON THE ACCOUNTS OF THE COMPANY FOR THE YEAR ENDED MARCH 31 2015 UNDER“REPORT ON OTHER LEGAL & REGULATORY REQUIREMENTS"

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

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 atregular intervals; as informed to us no material discrepancies were noticed on suchverification.

ii. (a) The Inventory has been physically verified during the year by the Managementand in our opinion the frequency of verification is reasonable.

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

(c) The Company is maintaining proper Records of inventory and as explained to us nomaterial discrepancies were noticed on physical verification of Stocks as compared to bookrecords.

iii. During the year the Company has granted a Loan of ' 246035100/- to BS GlobalResources Private Limited which is a party covered in the Register maintained U/s. 189 ofthe Companies Act 2013. The Closing balance as on March 31 2015 is ' 167020749/-.

iv. 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 and for the sale of services.Further on the basis of our examination of the Books and Records of the Company andaccording to the information and explanations given to us no major weakness has beennoticed or reported.

v. The Company has not accepted any Deposits from the Public covered under Section 73to 76 of the Companies Act 2013.

vi. We have broadly verified the Books of Accounts and Records maintained by theCompany in respect of products where pursuant to the Rules made by the Central Governmentof India the maintenance of Cost Records has been specified under the Sub-section (1) ofSection 148 of the Companies Act 2013 and are of the opinion that prima facie theprescribed Accounts and Records have been made and maintained.

vii. (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 the undisputedStatutory Dues including Provident Fund Employees' State Insurance Income-tax ServiceTax Custom Duty Excise Duty and other Material Statutory Dues as applicable with theappropriate Authorities in India;

(b) There were no undisputed amounts payable in respect of Provident Fund Employees'State Insurance Income-tax Service Tax Custom Duty Excise Duty and other MaterialStatutory Dues in arrears as at March 31 2015 for a period of more than 6 months for thedate they became payable.

(c) 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.

(d) There has been no delay in transferring amounts required to be transferred to theInvestor Education and Protection Fund by the Company.

viii. The Company does not have accumulated losses at the end of the Financial Year andthe Company has not incurred cash losses during the Financial Year covered by our 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 Financial Institution /Banks. TheCompany has not issued any Debentures.

x. In our opinion and according to the information and explanations given to us theterms and conditions of Guarantees given by the Company for Loan taken by others from Bankor Financial Institutions are not prejudicial to the interest of the Company.

xi. In our opinion and according to the information and explanations given to us theTerm Loans have been applied on an overall basis for the purposes for which they wereobtained.

xii. To the best of our knowledge and according to the information and explanationsgiven to us no fraud by the Company and no material fraud on the Company has been noticedor reported during the year.

For P. Murali & CO.
Chartered Accountants
Firm Registration No : 007257S
P. Murali Mohana Rao
Place: Hyderabad Partner
Date : 20/05/2015 M.No. 023412

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