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Capricorn Systems Global Solutions Ltd.

BSE: 512169 Sector: IT
NSE: N.A. ISIN Code: INE968E01012
BSE LIVE 15:28 | 06 Dec 32.95 -1.70
(-4.91%)
OPEN

32.95

HIGH

32.95

LOW

32.95

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 32.95
PREVIOUS CLOSE 34.65
VOLUME 11
52-Week high 55.55
52-Week low 20.20
P/E 329.50
Mkt Cap.(Rs cr) 13.18
Buy Price 0.00
Buy Qty 0.00
Sell Price 32.95
Sell Qty 3.00
OPEN 32.95
CLOSE 34.65
VOLUME 11
52-Week high 55.55
52-Week low 20.20
P/E 329.50
Mkt Cap.(Rs cr) 13.18
Buy Price 0.00
Buy Qty 0.00
Sell Price 32.95
Sell Qty 3.00

Capricorn Systems Global Solutions Ltd. (CAPRICORNSYSTEM) - Auditors Report

Company auditors report

To

The Members of

Capricorn Systems Global Solutions Limited Hyderabad.

Report on the Financial Statements

We have audited the accompanying financial statements of Capricorn Systems GlobalSolutions Limited ("the Company") which comprise the Balance Sheet as atMarch 31 2015 the Statement of Profit and Loss and Cash Flow Statement for the year thenended and a summary 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 ofthese financial statements that give a true and fair view of the financial positionfinancial performance and cash flows of the Company in accordance with 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; andthe design implementation and maintenance of adequate internal financial control thatwere operating 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 accordancewith the Standards on Auditing issued by the Institute of Chartered Accountants of Indiaas specified under Section 143(10) of the Act. Those Standards require that we comply withethical requirements and plan and perform the audit to obtain reasonable assurance aboutwhether the 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 an opinionon whether the Company has in place an adequate internal financial controls system overfinancial reporting and the effectiveness of such controls. An audit also includesevaluating the appropriateness of accounting policies used and the reasonableness of theaccounting estimates made by the Company's Directors as well as evaluating the overallpresentation of the financial statements. We believe that the audit evidence we haveobtained is sufficient and appropriate to provide a basis for our audit opinion on thefinancial statements.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the financial statements give the information required by the Act in themanner 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 1 a statement on the matters specified in paragraphs 3and 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 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 under section 133 of the Act read with Rule 7 of the Companies(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) ofthe 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 SATYANARAYANA & Co
CHARTEREDACCOUNTANTS
FRN No. 003680S
Place: Hyderabad. J. JAGANNADHA RAO
Date: 28-05-2015 Partner
Membership No. 006239

ANNEXURE REFERRED TO IN PARAGRAPH (1) OF THE REPORT OF EVEN DATE:

Re: Capricorn Systems Global Solutions Limited('the Company')

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

(b) Fixed assets have been physically verified by the management during the period andno material discrepancies were identified on such verification.

(ii) The Clauses relating to the physical verification of inventories maintenance ofrecords of inventory is not applicable to the Company as the company is engaged in thedevelopment of software and there are no inventories in the operations of the Company.

(iii) 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.

(iv) In our opinion and according to the information and explanations given to usthere are adequate internal control procedures commensurate with the size of the Companyand the nature of its business with regard to purchases of fixed assets and with regardto the sale of services. During the course of our audit we have not observed any majorweaknesses in internal controls.

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

(vi) The provisions of clause 3(vi) of the Order realting to the maintenance of thecost records is not applicable to the Company

(vii) (a) Undisputed statutory dues including provident fund employees' stateinsurance income-tax sales-tax customs duty and other material statutory dues havegenerally been regularly deposited with the appropriate authorities. The provisionsrelating to wealth-tax service-tax excise duty and cess are not applicable to theCompany.

(b) According to the information and explanations given to us no undisputed amountspayable in respect of provident fund employees' state insurance income-tax sales-taxwealth-tax service tax customs duty excise duty cess and other material statutory dueswere outstanding at the period end for a period of more than six months from the datethey became payable.

(c) According to the information and explanations given to us there are no dues ofincome tax sales-tax wealth-tax service tax customs duty excise duty and cess whichhave not been deposited on account of any dispute.

(d) According to the information and explanations given to us there are no amountwhich are reuired to the dealth with as per the provisions of investor education andprotection fund in accordance with the relevant provisions of the Companies Act 1956 (1of 1956) and rules made thereunder.

(viii) The company does not have any accumulated losses. The company has not sufferedany cash losses during the financial year covered by the audit and also in the immediatelypreceding financial year.

(ix) Based on our audit procedures and as per the information and explanations given bythe management we are of the opinion that the Company has not defaulted in repayment ofdues to a financial institution bank.

(x) 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.

(xi) The Company has not raised any new term loans during the year.

(xii) Based upon the audit procedures performed for the purpose of reporting the trueand fair view of the financial statements and as per the information and explanationsgiven by the management we report that no fraud on or by the Company has been noticed orreported during the year.

for SATYANARAYANA & Co
CHARTEREDACCOUNTANTS
FRN No. 003680S
Place: Hyderabad. J. JAGANNADHA RAO
Date: 28th May '15 Partner
Membership No. 006239

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