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Captain Technocast Ltd.

BSE: 540652 Sector: Engineering
NSE: N.A. ISIN Code: INE931X01010
BSE LIVE 15:18 | 17 Nov 44.55 -0.50
(-1.11%)
OPEN

44.55

HIGH

44.55

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44.55

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 44.55
PREVIOUS CLOSE 45.05
VOLUME 3000
52-Week high 53.00
52-Week low 42.05
P/E 17.20
Mkt Cap.(Rs cr) 23
Buy Price 44.50
Buy Qty 3000.00
Sell Price 50.00
Sell Qty 3000.00
OPEN 44.55
CLOSE 45.05
VOLUME 3000
52-Week high 53.00
52-Week low 42.05
P/E 17.20
Mkt Cap.(Rs cr) 23
Buy Price 44.50
Buy Qty 3000.00
Sell Price 50.00
Sell Qty 3000.00

Captain Technocast Ltd. (CAPTAINTECHNO) - Auditors Report

Company auditors report

To

The Members of

CAPTAIN TECHNOCAST LTD.

(Previously known as Captain Technocast Pvt. Ltd.)

Report on the Financial Statements

1. We have audited the accompanying standalone financial statements of CAPTAINTECHNOCAST LTD. (Previously known as Captain Technocast Pvt. Ltd.) which comprise theBalance Sheet as at 31st March 2017 the Profit and Loss Statement Cash Flow Statementfor the year e ided and a summary of significant accounting polices and other explanatoryinformation.

Management's Responsibility for the Financial Statements

2. The Company's Board of Director is responsible for the matters stated in Section134(5) of the Companies Act 2013 ("the Act") with respect to the preparationsof these standalone financial statements that give a true and fair view of the financialposition and financial performance and cash flow of the Company in accordance with theaccounting principles generally accepted in India including Accounting Standards referredto in Section 133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014..

This responsibility also includes maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding the assets of the Company andfor preventing and detecting frauds and other irregularities selection and application ofappropriate accounting policies marketing judgments and estimate that are reasonable andprudent and design implementation and maintenance of adequate internal financialcontrols that were operating effectively for insuring the accuracy and completeness ofthe accounting records relevant to the preparation and presentation of the financialstatements that give a true and fair view and are free from material misstatement whetherdue to fraud or error.

Auditors' Responsibility

3. Our responsibility is to express an opinion on these standalone financial statementsbased on our audit.

4. 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.

5. We have conducted our audit in accordance with the Standards on Auditing specifiedunder Section 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 misstatements.

6. An audit involves performing procedures to obtain audit evidence about the amountsand disclosures in the financial statements. The procedures selected depend on theauditor’s judgment including the assessment of the risk of material misstatement ofthe financial statements whether due to fraud or error. In making those risk assessmentsthe auditor considers internal control relevant to the Company’s preparation of thefinancial statement that give true and fair view ir order to design audit procedures thatare appropriate in the circumstances but not for the purpose of expressing an opinion onwhether the Company has in place an adequate internal financial controls system overfinancial 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.

7. We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the financial statement.

Opinion

8. 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:

(a) In the case of the Balance Sheet of the state of affairs of the Company as at 31stMarch 2017.

(b) In the case of the Statement of Profit and Loss of the profit for the year endedon that date

(c) in the case of the Cash Flow Statement of the cash flow for the year ended on thatdate.

Report on Other Legal and Regulatory Requirement

9. As required by the Companies (Auditor's Report) Order 2016 ("the Order")ssued by the Central Government of India in terms of sub-section (11) of Section 143 ofthe Act we give in the Annexure - A a statement on the matters specified in paragraph 3and 4 of the Order to the extent applicable.

10. 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 jy theCompany so far as it appears from our examination of those books.

c) The Balance Sheet the Profit and Loss Statement and the Cash Flow Statement dealwith 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 2017 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2017 from being appointed as a director in terms ofSection 164(2) of the Act.

f) With respect of adequacy of the internal financial control over financial reportingof the Company and the operating effectiveness of such controls refer to our separatereport in Annexure - B

g) With respect to the other matters to be included in the Auditor's Report inaccordance with the Rule 11 of the Companies (Audit and Auditors) Rule 2014 in ouropinion and to the best of our information and according to the explanations given to us :

(i) The Company has no pending litigation on its financial position in its financialstatements ;

(ii) The Company has no material foreseeable losses on long term contract that required

(iii) The Company has no amount that required to be transferred to the InvestorEducation and Protection Fund.

(iv) the Company has provided requisite disclosures in the financial statements as toholdings as well as dealings in Specified Bank Notes during the period from 8 November2016 to 30 December 2016. Based on audit procedures and relying on the managementrepresentation we report that the disclosures are in accordance with the books of accountsmaintained by the Company. Refer Note 36 to the financial statements.

FOR P. GHANSHYAM & CO.
Chartered Accountants Firm Reg. NO.J03153W
(G. L. Kathrctia)
Place: Rajkot Proprietor
Dated : 17th May 2017 Memb. No. 32424

ANNEXURE - A TO THE AUDITOR’S REPORT

Referred to in paragraph 9 of our Report of even date of Captain Technocast Ltd. forthe year ended on 31-03- 2017.

(i) FIXED ASSETS:

(a) In our opinion the Company has generally maintained proper records showing fullparticulars including quantitative details and situation of fixed assets on the basis ofavailable information.

(b) As explained to us. the fixed assets have been physically verified by themanagement at the year in a phased periodical manner which in our opinion is reasonablehaving regard to size of the company and nature of its assets. No material discrepancieswith respect to bocks records were noticed on such verification.

(c) As explained to us and on the basis of our examination of the books of accountsthe deeds of immovable properties are held in the name of the Company.

(ii) INVENTORIES:

(a) According to the information and explanation given to us the inventories have beenphysically verified during the year by the management and in our opinion the frequency ofverification is reasonable.

(b) As explained to us no material discrepancy were noticed on physical verificationof inventories as compared to the books records.

(iii) LOANS:

According to the information and explanations given to us and on the basis of ourexamination of the books of accounts the company has not granted any loans secured orunsecured to companies firms Limited Liability Partnership or other parties covered inthe register maintained us. 189 of the Companies Act 2013 during the year under review.Consequently the provisions of clause (iii) of the order are not applicable to thecompany.

(iv) LOANS INVESTMENTS & GUARANTEES :

According to the information and explanations given to us and on the basis of ourexamination of the books of accounts the company has not granted any loans directly orindirectly to any directors or persons or entities in which directors are interested orgiven any guarantee or provide any security in connection with loan taken by them or suchother person and the company has not made any investment and has not given any to anyperson or other body corporate.

(v) DEPOSITS:

As explanined to us the Company has not accepted any deposits within the meaning ofsection 73 to 76 of the Companies Act 2013 read with Rule 2(b) of the Companies(Acceptance of Deposit’s) Rules 2014 during the year under review.

(vi) COST RECORDS:

According to the information and explanations provided by the management to us and tothe best of our knowledge the Company is not engaged in production of any such goods orproduction of any such services for which the Central Government has prescribedparticulars relating to utilization of material or labour or other items of cost. Hencethe provisions of section 148(1) of the Companies Act 2013 do not apply to the Company.

(vii) STATUTORY DUES :

(a) As per information and explanations available to usthe Company is regular indepositing undisputed statutory dues including provident fund income-tax sales taxseivice tax duty of customs duty of excise value added tax cess and any otherstatutory dues to the' appropriate

(b) The Company has no due of income tax or sales tax or service tax or duty of customsor duty of excise or value added tax which have not been deposited on account of anyduspute.

(viii) DUES TO FINANCIAL INSTITUTIONS BANKS OR DEBENTURE HOLDERS :

Based on our audit procedure and as per information and explanations given to us by themanagement of the Company we are of opinion that the Company has not defaulted inrepayment o: dues to financial institutions and banks during the year underreview.

The Company has not issued any debenture during the year under review.

Referred to in paragraph 9 of our Report of even date of Captain Technocast Ltd. forthe year ended on 31-03- 2017.

(ix) TERM LOANS & PUBLIC ISSUE :

The Company has not raised any money by way of initial public offer or further publicoffer (including debit instruments) and term loan raised during the year has been appliedfor the purpose for which term loan is raised.

(x) FRAUD:

Based on the audit procedure performed and as per information and explanations given bythe management we report that no fraud by the Company or any fraud ori the Company by itsofficer or employees has been noticed or reported during the year.

(xi) MANAGERIAL REMUNERATION :

As the Company being private limited Company the provisions of section 197 are notapplicable to the Company Consequently the provisions of clause (xi) of the order arenot applicable to the Company.

(xii) NIDHI COMPANY:

In our opinion the Company is not a Nidhi Company. Consequently provisions of Clause3(xii) of the of the order are not applicable to the Company.

(xiii) RELATED PARTY TRANSACTIONS :

Based on the audit procedure performed and as per information and explanations given bythe management all transactions with the related parties are in compliance with section177 and 188 of Companies Act 2013 and have been duly disclosed in the FinancialStatements as required by the applicable accounting standards.

(xiv) PREFERENTIAL ALLOTMENT / PRIVATE PLACEMENT :

Based on the audit procedure performed and according to the information andexplanations given to us the Company has not made any preferential allotment or privateplacement of shares or fully or partly convertible debenture during the year under review.Consequently the provisions of clause (xiv) of the order are not applicable to theCompany.

(xv) NON-CASH TRANSACTIONS :

Based on the audit procedure performed and according to the explanations given to usthe Company has not entered into any non-cash transactions with directors or personsconnected with them Cosequently the provisions of clause (xv) of the order are notapplicable to the Company.

(xvi) REGISTRATION UNDER SECTION 45-IA OF RBI ACT 1934 :

The Company is not required to be registered under section 45-IA of the Reserve Bank ofIndia Act

FOR P. GHANSHYAM & CO.
Chartered Accou ntants
Firm Reg. No. 103153W
Place: Rajkot (G. L. Kathrotia)
Proprietor
Dated : 17th May 2017 Memb. ta. 32424

ANNEXURE - B TO THE AUDITOR'S REPORT

Referred to in paragraph 10(f) of our Report of even date of Captain Technocast Pvt.Ltd. for the year ended on 31-03- 2017.

We have audited the internal financial controls over financial reporting of CaptinTechnocast Pvt. Ltd. as of 31st March 2017 in conjunction with our audit of thestandalone financial statements of the Company for the year ended on that date.

Management responsibility for Internal Financial Controls

The Company's management is responsible for establishing and maintaining internalfinancial control based on the internal control over financial reporting criteriaestablished by the Company considering the essential components of internal financialcontrol stated in the Guidance Note on Audit of Internal Financial Controls over Financialreporting issued by the Institute of Chartered Accountants of India ('ICAI'). Theseresponsibilities include the design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the orderly and efficientcontrol of its business including adherences to Company's policies the safeguarding ofits assets the prevention and timely diction of frauds and errors the accuracy andcompleteness of the accounting records and the timely preparation of reliable financialinformation as required under the Companies Act 2013

Auditors' Responsibility

Our responsibility is to express an opinion on the Company's internal financialcontrols over financial reporting based on our audit. We conducted our audit in accordancewith the Guidance Note on Audit of Internal Financial Controls over Financial Reporting(the "Guidance Note") and the Standards on Auditing issued by ICAI and deemed tobe prescribed under section 143(1) of the Companies Act 2013 to the extent applicable toan audit of internal financial controls both applicable to an audit of Internal FinancialControls and both issued by the Institute of Chartered Accountants of India. ThoseStandards and the Guidance Note require that we comply with the ethical requirements andplan anc perform the audit to obtain reasonable assurance about whether adequate internalfinancial controls over financial reporting was established and maintained and if suchcontrols operated effectively in all material respect.

Our audit involves performing procedures to obtain evidence about the adequacy of theinte nal financial controls system over financial reporting and their operatingeffectiveness. Our audit of internal financial controls over financial reporting includedobtaining an understanding of internal financial controls over financial reportingassessing the risk that a material weakness exists and testing and evaluating the designand operating effectiveness internal financial control based on the assessed risk. Theprocedure selected depend on the auditor's judgment including the assessment of the risksof material misstatement of the financial statements whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the Company's internal financial controls systemover financial reporting.

Meaning of Internal Financial Controls over Financial Reporting

Company’s internal financial control over financial reporting is a processdesigned to provide reasonable assurance regarding the reliability of financial reportingand the preparation of financial statements for the external purposes in accordance withgenerally accepted accounting principles. A company's internal financial control overfinancial reporting includes those policies and procedures that (1) pertain to maintenanceof records that in reasonable details accuracy and fairly reflect the transaction anddispositions of the assets of the company ; (2) provide reasonable assurance thattransactions are recorded as necessary to permit preparation of financial statements

Referred to in paragraph 10(f) of our Report of even date of Captain Technocast Pvt.Ltd. for the year ended on 31-03- 2017.

Inherent Limitations of Internal Financial Controls Over Financial Reporting

Because of the inherent limitations of internal financial controls over financialreporting including the possibility of collusion or improper management override ofcontrols material misstatements due to error or fraud may occur and not be detected.Also projection of any evaluation of the internal financial controls over financialreporting to future periods are subject to risk that the internal financial control overfinancial reporting may become inadequate because of change in conditions or that thedegree of compliance with the policies or procedure may deteriorate.

Opinion

In our opinion the Company has in all material aspects an adequate internalfinancial controls system over financial reporting and such internal financial controlover financial reporting were operating effectively as at 31st March 2016 based on theinternal control over financial reporting criteria established by the Company consideringthe essential components of internal control stated in the Guidance Note on Audit ofInternal Financial Controls Over Financial Reporting issued by the Institute of CharteredAccountants of India.

FOR P. GHANSHYAM & CO.
Chartered Accountants
Firm Reg. No. 103153W
(G. L. Ksthrotia)
Place: Rajkot Propriefcr
Dated : 17th May 2017 Memb. No. 32424