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Camex Ltd.

BSE: 524440 Sector: Industrials
NSE: N.A. ISIN Code: INE198C01010
BSE LIVE 15:55 | 08 Dec 29.50 -1.15
(-3.75%)
OPEN

30.00

HIGH

30.25

LOW

28.00

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 30.00
PREVIOUS CLOSE 30.65
VOLUME 10034
52-Week high 41.00
52-Week low 20.70
P/E 15.21
Mkt Cap.(Rs cr) 30.12
Buy Price 0.00
Buy Qty 0.00
Sell Price 29.50
Sell Qty 189.00
OPEN 30.00
CLOSE 30.65
VOLUME 10034
52-Week high 41.00
52-Week low 20.70
P/E 15.21
Mkt Cap.(Rs cr) 30.12
Buy Price 0.00
Buy Qty 0.00
Sell Price 29.50
Sell Qty 189.00

Camex Ltd. (CAMEX) - Auditors Report

Company auditors report

To

THE MEMBERS OF CAMEX LIMITED

Report on the Financial Statements

We have audited the accompanying standalone financial statements of Camex Limited("the Company") which comprise the Balance Sheet as at 31st March 2015 theProfit and Loss Statement the Cash Flow Statement for the year then ended and a summaryof 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 of 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.

Auditors’ 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 accountingand auditing standards and matters which are required to be included in the audit reportunder the provisions 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 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 but not for the purpose ofexpressing an opinion on whether the Company has in place an adequate internal controlssystems over financial reporting and the operating effectiveness of such controls. Anaudit also includes evaluating the appropriateness of the accounting policies used and thereasonableness of the accounting estimates made by the Company’s Directors as wellas evaluating the overall 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 standalone financial statements.

Opinion

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

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 statement on the matters specified inthe paragraph 3 and 4 of the order 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 and proper returnsadequate for the purposes of our audit have been received from the branches not visited byus.

(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.

(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 has been no delay in transferring amounts required to be transferred tothe Investor Education and Protection Fund by the Company.

For Surana Maloo & Co.
Chartered Accountants
FRN 112171W
sd/-
Per Vidhan Surana
Place : Ahmedabad Partner
Date : 30th May 2015 Membership No.: 041841

ANNEXURE TO THE INDEPENDENT AUDITOR’S REPORT

A Statement on the matters specified in paragraphs 3 & 4 of the Companies(Auditor’s Report) order 2015 ("the Order") issued by the CentralGovernment of India in terms of sub-section (11) of section 143 of the Companies Act 2015of CAMEX LIMITED for the year ended on 31st March 2015.

We report that :

I (a) The Company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets on the basis of available information.

(b) As explained to us all the fixed assets have been physically verified by themanagement during the year in a phased manner which in our opinion is reasonable havingregard to the size of the Company and the nature of its assets. No material discrepancieswere noticed on such physical verification.

(ii) (a) As explained to us the inventory has been physically verified by themanagement at regular intervals 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) The company has maintained proper records of inventories. As explained to us therewere no material discrepancies notices on physical verification of inventories as comparedto the book records.

(iii) The Company has not granted any loans to bodies corporate covered in the registermaintained under section 189 of the Companies Act 2013 (‘the Act’).

(iv) In our opinion and according to the information and explanations given to usthere is an adequate internal control system commensuratewith the size of the Company andthe nature of its business with regard to purchase of inventory and fixed assets and forthe sale of goods and services. During the course of our audit we have not observed anycontinuing failure to correct major weaknesses in internal control system.

(v) The Company has not accepted any deposits from the public.

(vi) The Central Government has not prescribed the maintenance of cost records undersection148(1) of the Companies Act.

(vii) (a) According to the information and explanations given to us and on the basis ofour examination of the records of the Company amounts deducted/accrued in the books ofaccount in respect of undisputed statutory dues including provident fund employee’sstate insurance income tax sales tax wealth tax service tax duty of customs duty ofexcise value added tax cess and other material statutory dues have been regularlydeposited during the year by the Company with the appropriate authorities and there wereno undisputed statutory dues outstanding for a period of more than six months from thedate they became payable.

(b) According to the information and explanations given to us there are no materialdues of wealth tax duty of customs and cess which have not been deposited with theappropriate authorities on account of any dispute. c) According to the information andexplanations given to us there were no amounts to be transferred to the investor educationand protection fund in accordance with the relevant provisions of the Companies Act 1956(1 of 1956) and rules there under.

(viii) The Company does not have any accumulated losses at the end of the financialyear and has not incurred any cash losses in the financial year and in the immediatelypreceding financial year.

(ix) The Company has not defaulted in repayment of dues to a financial institutionsbanks or debenture holders during the year.

(x) In our opinion and according to the information and the explanations given to usthe Company has not given any guarantee for loans taken by others from banks or financialinstitutions.

(xi) In our opinion and according to the information and explanations given to us andon examination of balance sheet of the company the term loans were applied for thepurpose for which the loans were obtained.

(xii) According to the information and explanations given to us no material fraud onor by the Company has been noticed or reported during the course of our audit.

For Surana Maloo & Co.
Chartered Accountants
FRN 112171W
sd/-
Per Vidhan Surana
Place : Ahmedabad Partner
Date : 30th May 2015 Membership No.: 041841

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