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Coastal Corporation Ltd.

BSE: 501831 Sector: Others
NSE: N.A. ISIN Code: INE377E01016
BSE LIVE 10:00 | 02 Dec 27.40 1.30
(4.98%)
OPEN

27.40

HIGH

27.40

LOW

27.40

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 27.40
PREVIOUS CLOSE 26.10
VOLUME 4
52-Week high 27.40
52-Week low 11.70
P/E 0.82
Mkt Cap.(Rs cr) 6.96
Buy Price 27.40
Buy Qty 132596.00
Sell Price 0.00
Sell Qty 0.00
OPEN 27.40
CLOSE 26.10
VOLUME 4
52-Week high 27.40
52-Week low 11.70
P/E 0.82
Mkt Cap.(Rs cr) 6.96
Buy Price 27.40
Buy Qty 132596.00
Sell Price 0.00
Sell Qty 0.00

Coastal Corporation Ltd. (COASTALCORPORAT) - Auditors Report

Company auditors report

On Standalone Financial Statements

To the Members of Coastal Corporation Limited

We have audited the accompanying standalone financial statements of Coastal CorporationLimited ('the Company') which comprise the balance sheet as at 31 March 2016 thestatement of profit and loss and the cash flow statement for the year then ended and asummary of significant accounting policies and other explanatory information.

Management's Responsibility for the Standalone 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 andpresentation of these -standalone financial statements that give a true and fair view ofthe financial position financial performance and cash flows of the Company in accordancewith the accounting principles generally accepted in India including the AccountingStandards specified under Section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014. This responsibility also includes maintenance of adequateaccounting records in accordance with the provisions of the Act for safeguarding theassets of the Company and for preventing and detecting frauds and other irregularities;selection and application of appropriate accounting policies; making judgments andestimates that are reasonable and prudent; and design implementation and maintenance ofadequate internal financial controls that were operating effectively for ensuring theaccuracy and completeness of the accounting records relevant to the preparation andpresentation of the financial statements that give a true and fair view and are free frommaterial misstatement whether due to fraud or error.

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 o t 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 n i the financial statements. The procedures selected depend on theauditor's judgment including the assessment of the risks of material misstatement of thefinancial statements whetlv Jue to fraud or error. In making those risk assessments theauditor considers 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. 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 overall presentationof 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 31 March 2016 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 2016 ("the Order")issued by the Central Government of India in terms of sub-section (11) of section 143 ofthe Actwe give in the Annexure A a statement on the matters specified in the paragraph 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 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 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 31March 2016 taken on record by the Board of Directors none of the directors isdisqualified as on 31 March 2016 from being appointed as a director in terms of Section164 (2) of the Act;

(f) with respect to the adequacy of the internal financial controls over financialreporting of the Company and the operating effectiveness of such controls refer to ourseparate report in "Annexure B"; and

(g) 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. Th e Company hasdisclosed the impact of pending litigations on its financialposition in its financial statements - Refer Note no 26 to the financial statements;

ii. The Company did not have anymaterial foreseeable losses relating to long - termcontracts including derivative contracts.

iii. Ther e hasbeen no delay in transferring amounts required to betransferred to theInvestor Education and Protection Fund by the Company.

For K.P.RAO ASSOCIATES
Chartered Accountants
Firm's Reg. No.: 003136S
WS BHAGAVAN
Partner
Membership number: 008571
Place: Visakhapatnam
Date: 30th May 2016

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