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Crane Infrastructure Ltd.

BSE: 538770 Sector: Infrastructure
NSE: N.A. ISIN Code: INE176L01017
BSE LIVE 15:19 | 08 Dec 9.00 -0.35
(-3.74%)
OPEN

9.35

HIGH

9.35

LOW

9.00

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 9.35
PREVIOUS CLOSE 9.35
VOLUME 2000
52-Week high 12.27
52-Week low 4.90
P/E 31.03
Mkt Cap.(Rs cr) 6.52
Buy Price 8.91
Buy Qty 92.00
Sell Price 9.79
Sell Qty 2125.00
OPEN 9.35
CLOSE 9.35
VOLUME 2000
52-Week high 12.27
52-Week low 4.90
P/E 31.03
Mkt Cap.(Rs cr) 6.52
Buy Price 8.91
Buy Qty 92.00
Sell Price 9.79
Sell Qty 2125.00

Crane Infrastructure Ltd. (CRANEINFRA) - Auditors Report

Company auditors report

TO MEMBERS OF CRANE INFRASTRUCTURE LIMITED

REPORT ON THE STANDALONE FINANCIAL STATEMENTS

We have audited the accompanying standalone financial statements of CraneInfrastructure Limited which comprise the Balance Sheet as at March 31 2015 theStatement of Profit and Loss and the Cash Flow Statement for the year then ended and asummary of the 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 insub-section 5 of Section 134 of the Companies Act 2013 with respect to the preparation ofthese standalone financial statements that give a true and fair view of the financialposition financial performance and cash flows of the Company in accordance with theaccounting principles generally accepted in India including the Accounting Standardsspecified under Section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules2014. 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; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of adequate internal financialcontrols that were operating effectively for ensuring 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

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 undersub-section 10 of Section 143 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 andthe disclosures in the financial statements. The procedures selected depend on theauditors’ 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 financialcontrols system over financial reporting and the operating effectiveness of such controls.An audit also includes evaluating the appropriateness of the accounting policies used andthe reasonableness of the accounting estimates made by the Company’s Directors aswell as 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 March 31 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 exercise of powers conferred bysub-section 11 of section 143 of the Act we enclose in the Annexure a statement on thematters specified in paragraphs 3 and 4 of the Order.

2. As required by sub-section 3 of Section 143 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 March31 2015 taken on record by the Board of Directors none of the Directors are disqualifiedas on March 31 2015 from being appointed as a Director in terms of sub-section 2 ofSection 164 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 did not have any pending litigations which impacts the financialposition of the company.

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 Umamaheswara Rao & Co.
Chartered Accountants
Firm Regn No. 004453S
(CA S.HSY Sarma)
Place: Guntur Partner
Date: 30-May-2015 Membership No. 234083

ANNEXURETO THE INDEPENDENT AUDITORS’ REPORT

Referred to in paragraph 3 under Report on Other Legal and Regulatory RequirementsSection of our report of even date

i. In respect to Fixed Assets:

a. The Company has maintained proper records showing full particulars includingQuantitative detailsand situation of its fixed assets;

b. All the assets have been physically verified by the management during the year.There is a regular programme of verification 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 verification.

ii. In respect of Inventory:

a. The Inventory has been physically verified during the year by the management. In ouropinion the frequency of verification is reasonable.

b. The procedures of physical verification of inventories followed by the managementare reasonable and adequate in relation to the size of the company and the nature of itsbusiness.

c. In our opinion and according to the information and explanations given to us theCompany has maintained proper records of its inventories and no material discrepancieswere noticed on physical verification.

iii. The Company not granted any loans secured or unsecured to companies firms andother parties covered in the register maintained under section 189 of the Companies Act2013.

In view of above clauses iii (a) iii (b) are not applicable. iv. In our opinion andaccording to the information and explanations given to us there are adequate internalcontrol systems commensurate with the size of the company and the nature of its businesswith regard to purchases of inventory fixed assets and with regard to the sale of goods.During the course of our audit we have not observed any continuing failure to correctmajor weaknesses in internal controls systems.

v. The company has not accepted any deposits from the public within the meaning ofSections 73 to 76 of the Act and the rules framed there under.

vi. The Central Government has not prescribed any cost Records for these kindcompanies. In view of the above clause (vi) is not applicable.

vii. According to the information and explanations given to us and according to thebooks and records as produced and examined by us in our opinion.

a. The Company is regular in depositing with appropriate authorities undisputedstatutory dues including Provident Fund Income Tax Sales Tax Customs Duty Excise DutyService Tax Cess and other material statutory dues applicable to it

b. According to the information and explanation given to us there are no dues of SalesTax Service Tax Income Tax Customs duty and Excise duty which have not been depositedon account of any dispute.

c. 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 financial year and theCompany has not incurred cash losses during the financial year covered by our audit and inthe 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 the financial institution bank ordebentures holders.

x. The company has not given guarantee for loans taken by others from banks andfinancial institutions during the year.

xi. The company has not borrowed any term loans. In view of the above clause (xi) isnot applicable.

xii. To the best of our knowledge and according to the information and explanationsgiven to us no fraud by the company and no significant fraud on the company has beennoticed or reported during the year.

For Umamaheswara Rao & Co.
Chartered Accountants
Firm Regn No. 004453S
(CA S.HSY Sarma)
Place: Guntur Partner
Date: 30-May-2015 Membership No. 234083

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