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Cybele Industries Ltd.

BSE: 531472 Sector: Engineering
NSE: N.A. ISIN Code: INE183D01010
BSE LIVE 14:58 | 02 Dec 6.45 -0.30
(-4.44%)
OPEN

7.00

HIGH

7.00

LOW

6.45

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 7.00
PREVIOUS CLOSE 6.75
VOLUME 2100
52-Week high 8.26
52-Week low 4.68
P/E 20.16
Mkt Cap.(Rs cr) 6.90
Buy Price 0.00
Buy Qty 0.00
Sell Price 6.45
Sell Qty 100.00
OPEN 7.00
CLOSE 6.75
VOLUME 2100
52-Week high 8.26
52-Week low 4.68
P/E 20.16
Mkt Cap.(Rs cr) 6.90
Buy Price 0.00
Buy Qty 0.00
Sell Price 6.45
Sell Qty 100.00

Cybele Industries Ltd. (CYBELEINDS) - Auditors Report

Company auditors report

CYBELE INDUSTRIES LIMITED ANNUAL REPORT 2011-2012 AUDITORS' REPORT 1. We have audited the attached Balance Sheet of Cybele Industries Limited as at 31st March 2012 and the Profit and Loss Account and also the cash flow statement for the year ended on that date, annexed thereto. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audit. 2. We conducted our audit in accordance with auditing standard generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amount and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. 3. As required by the Companies (Auditors' Report) Order, 2003 issued by the Central Government of India in terms of Section 227 (4A) of the Companies Act 1956, we enclose in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the said Order. 4. Further to our comments in the Annexure referred to on Paragraph 3 above, we report that: (i) We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit; so far as appears from examination of those books; (ii) In our opinion, proper books of accounts as required by law have been kept by the company, (iii) The Balance Sheet and Profit and Loss Account and Cash flow statement dealt with by this report are in agreement with the books of account; (iv) In our opinion, the Balance Sheet, Profit and Loss Account and Cash flow statement dealt with by this report comply with the accounting standards referred to in subsection (3C) of Section 211 of the Companies Act, 1956; (v) On the basis of the written representations received from the Directors, as on 31st March 2012, and taken on record by the Board of Directors, we report that none of the Directors is disqualified as on 31st March 2012 from being appointed as a Director in terms of clause (g) of subsection (1) of section 274 of the Companies Act, 1956; (vi) In our opinion and to the best of our information and according to the explanations given to us, the said accounts give the information required by the Companies Act, 1956; in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India: (a) In the case of the Balance Sheet, of the state of affairs of the Company as at 31st March,2012; (b) In the case of the Profit and Loss Account, of the loss of the Company for the year ended on that date; and (c) In the case flow statement, of the cash flows for the year ended on that date. For M/s. Karpagam & Co., Chartered Accountants Place: Chennai S. SRIKANTH Date : 26.05.2012 Partner ANNEXURE TO THE AUDITORS' REPORT REFERRED TO IN PARAGRAPH 3 OF OUR REPORT OF EVEN DATE: 1. In respect of fixed assets: (a) The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets. (b) The fixed assets were physically verified during the year by the management in accordance with a programme of verification which in our opinion, provides for physical verification of all the fixed assets at reasonable intervals. According to the information and explanations given to us, no material discrepancies were noticed on such verification. (c) The Company has not sold/disposed off any significant portion of fixed assets during the year. 2. In respect of its inventories: (a) As explained to us, inventories were physically verified by the management at reasonable intervals (b) In our opinion and according to the information and explanations given to us, the procedures of physical verification of inventories followed by the management were reasonable and adequate in relation to the size of the Company and the nature of its business. (c) In our opinion and according to the information and explanations given to us, the company has maintained proper records of its inventories. The discrepancies noticed on physical verification between physical stock and book records were not material. 3. During the year under consideration, the Company has not granted or taken by the Company any loan secured or unsecured to or from Companies, firms or other parties covered in the Register maintained under Section 301 of the Companies Act, 1956; 4. In our opinion and according to the information and explanations given to us, there are adequate internal control procedure commensurate with the size of the Company and the nature of its business for the purchase of inventory and fixed assets and for the sale of goods. During the course of our audit, we have not observed any continuing failure to correct major weaknesses in internal controls. 5. In respect of transactions entered in the register maintained in pursuance of section 301 of the Companies Act, 1956; (a) According to the information and explanations given to us, the transactions that needed to be entered into the register have been so entered. (b) In our opinion and according to the information and explanations given to us, where each of such transactions is in excess of Rs.5 lakhs in respect of any party during the year, the transactions have been made at prices which are prima facie reasonable having regard to the prevailing market prices at the relevant time. 6. The Company has not accepted any deposits from the Public during the year. 7. In our opinion, the internal audit functions carried out during the year by a firm of Chartered Accountants appointed by the management have been commensurate with the size of the Company and the nature of its business. 8. Statutory and other dues: (a) According to the information and explanations given to us, the company has been regular in depositing undisputed statutory dues including Provident Fund. Employee's State Insurance, Income Tax, Sales Tax, Customs Duty, Excise Duty, Cess and any other statutory dues applicable to it with the appropriate authorities during the year. (b) According to the information and explanation given to us, there are no dues of sales tax, income tax, customs duty wealth tax excise duty and cess which have not been deposited on account of any dispute. 9. In our opinion, the net worth of the company has become positive during the year. 10. According to the information and explanations given to us by the management, we are of the opinion that the Company has not defaulted in repayment of dues to bank. 11. Based on our examination of documents and records, we are of the opinion that no loans or advances have been granted by the Company on the basis of security by way of pledge of shares, debentures and other securities. 12. In our opinion, the company is not a chit fund or nidhi mutual benefit fund/society. Therefore, the provisions of clause 4(xiii) of the Companies (Auditor's Report) Order 2003 are not applicable to the company. 13. In our opinion, the company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly the provisions of clause 4(xiv) of the Companies (Auditor's Report) Order, 2003 are not applicable to the company. 14. In our opinion an according to the information and explanations given to us, the company has not given any guarantee for loans taken by other from Banks and Financial Institutions during the year. 15. The Company has not availed any term loans during the year. 16. According to the information and explanations given to us and on an overall examination of the balance sheet of the company, we report that no funds raised on short term basis have been used for long term investment by the company. No long term funds have been used to finance short term assets except permanent working capital. 17. The Company has not made preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the Act. 18. The company has not issued any debentures during the year. 19. The company has not raised any money by public issues during the year. 20. To the best of our knowledge and belief and according to the information and explanations given to us, no fraud on or by the company was noticed or reported during the year. For M/s. Karpagam & Co., Chartered Accountants Place: Chennai S. SRIKANTH Date : 26.05.2012 Partner

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