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Genus Power Infrastructures Ltd.

BSE: 530343 Sector: Engineering
NSE: GENUSPOWER ISIN Code: INE955D01029
BSE LIVE 15:40 | 15 Dec 72.05 0.30
(0.42%)
OPEN

72.90

HIGH

73.90

LOW

71.70

NSE 15:42 | 15 Dec 72.15 0.15
(0.21%)
OPEN

72.95

HIGH

73.75

LOW

71.90

OPEN 72.90
PREVIOUS CLOSE 71.75
VOLUME 101548
52-Week high 75.65
52-Week low 36.50
P/E 37.14
Mkt Cap.(Rs cr) 1,853
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 72.90
CLOSE 71.75
VOLUME 101548
52-Week high 75.65
52-Week low 36.50
P/E 37.14
Mkt Cap.(Rs cr) 1,853
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Genus Power Infrastructures Ltd. (GENUSPOWER) - Auditors Report

Company auditors report

Independent Auditor's Report

To the Members of Genus Power Infrastructures Limited

Report on the Financial Statements

We have audited the accompanying standalone financial statements of Genus PowerInfrastructures Limited (“the Company”) which comprise the Balance Sheet as atMarch 31 2016 the Statement of Profit and Loss and Cash Flow Statement for the year thenended and a summary of signi cant 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 standalone financial statements that give a true and fair view of the financialposition financial performance and cash flows of the Company in accordance withaccounting principles generally accepted in India including the Accounting Standardsspeci ed 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 of the assets of the Companyand for preventing and detecting frauds and other irregularities; selection andapplication of appropriate accounting policies; making judgments and estimates that arereasonable and prudent; and the design implementation and maintenance of adequateinternal financial control that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe financial statements that give a true and fair view and are free from materialmisstatement 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 accountingand auditing standards and matters which are required to be included in the audit reportunder the provisions of the Act and the Rules made thereunder. We conducted our audit inaccordance with the Standards on Auditing issued by the Institute OfficharteredAccountants of India as speci ed under Section 143(10) of the Act. Those Standardsrequire that we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether the financial statements are free from materialmisstatement.

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. An audit also includes evaluating theappropriateness of 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 sufcient and appropriate to provide a basis for our audit opinion on the standalone financialstatements.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the standalone financial statements give the information required by the Actin the manner 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 2016 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 Act we give in the Annexure 1 a statement on the matters speci ed in paragraphs 3 and4 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 standalone financial statements comply with theAccounting Standards speci ed under section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014;

(e) On the basis of written representations received from the directors as on March 312016 and taken on record by the Board of Directors none of the directors is disquali edas on March 31 2016 from being appointed as a director in terms of section 164 (2) ofthe 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 2” to this report;

(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. The Company has disclosed the impact of pending litigations on its financialposition in its financial statements Refer Note 31 (d) (e) and (f) to the financialstatements;

ii. The Company has made provision as required under the applicable law or accountingstandards for material foreseeable losses if any on long-term contracts includingderivative contracts; and

iii. There has been no delay in transferring amounts required to be transferred tothe Investor Education and Protection Fund by the Company.

For S.R. BATLIBOI & ASSOCIATES LLP For D. KHANNA & ASSOCIATES
ICAI Firm registration number: 101049W/E300004 Firm registration number: 012917N
Chartered Accountants Chartered Accountants
per Shankar Srinivasan per Deepak Khanna
Partner Partner
Membership No.: 213271 Membership No.: 092140
Place of signature : Hyderabad Place of signature : Jaipur
Date : May 25 2016 Date : May 25 2016

Annexure 1 referred to in our report of even date

Re: Genus Power Infrastructures Limited (“the Company”)

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

(b) The Company has a regular programme of physical veri cation of its fixed assets bywhich all fixed assets are veri ed in a phased manner over a period of 3 years. In ouropinion this periodicity of physical veri cation is reasonable having regard to the sizeof the Company and the nature of its assets. No material discrepancies were noticed onsuch veri cation.

(c) Based on our audit procedures performed for the purpose of reporting the true andfair view of the financial statements and according to information and explanations givenby the management the title deeds of immovable properties are held in the name of theCompany.

(ii) The management has conducted physical veri cation of inventory at reasonableintervals during the year and no material discrepancies were noticed on such physical verication.

(iii) (a) The Company has granted loans the principal and interest thereof arere-payable on demand to a company covered in the register maintained under section 189 ofthe Companies Act 2013. In our opinion and according to the information and explanationsgiven to us the terms and conditions of the grants and loans not prejudicial to theCompany's interest.

(b) The Company has granted loans that are re-payable on demand to a company coveredin the register maintained under section 189 of the Companies Act 2013. The loans grantedare re-payable on demand. We are informed that the Company has not demanded repayment ofany such loan and interest during the year and thus there has been no default on thepart of the parties to whom the money has been lent.

(c) There are no overdue amounts in respect of the loan granted to a company covered inthe register maintained under Section 189 of the Companies Act 2013.

(iv) In our opinion and according to the information and explanations given to usprovisions of section 185 and 186 of the Companies Act 2013 in respect of loans todirectors including entities in which they are interested and in respect of loans andadvances given investments made and guarantees and securities given have been compliedwith by the Company.

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

(vi) We have broadly reviewed the books of account maintained by the Company pursuantto the rules made by the Central Government for the maintenance Officost records undersection 148(1) of the Companies Act 2013 related to the manufacture or service ofelectricals and electronic machinery and are of the opinion that prima facie the specied accounts and records have been made and maintained. We have not however made adetailed examination of the same.

(vii) (a) The Company is regular in depositing with appropriate authorities undisputedstatutory dues including provident fund employees’ state insurance income-taxsales-tax service tax duty Officustom duty of excise value added tax cess and othermaterial statutory dues applicable to it.

(b) According to the information and explanations given to us no undisputed amountspayable in respect of provident fund employees’ state insurance income-tax servicetax sales-tax duty Officustom duty of excise value added tax cess and other materialstatutory dues were outstanding at the year end for a period of more than six monthsfrom the date they became payable.

(c) According to the records of the Company the dues outstanding of income-taxsales-tax service tax duty Officustom duty of excise value added tax and cess onaccount of any dispute are as follows:

(viii) Based on our audit procedures performed for the purpose of reporting the trueand fair view of the financial statements and according to information and explanationsgiven by the management we are of the opinion that the Company has not defaulted inrepayment of dues to a financial institution debenture holders bank or government.

(ix) Based on our audit procedures performed for the purpose of reporting the true andfair view of the financial statements and according to the information and explanationsgiven by the management the Company has not raised any money way of initial public offer/ further public offer / debt instruments and term loans hence reporting under clause(ix) is not applicable to the Company and hence not commented upon.

(x) Based upon the audit procedures performed for the purpose of reporting the true andfair view of the financial statements and according to the information and explanationsgiven by the management we report that no fraud by the Company or no fraud on the Companyby the Officers and employees of the Company has been noticed or reported during the year.

(xi) Based on our audit procedures performed for the purpose of reporting the true andfair view of the financial statements and according to the information and explanationsgiven by the management we report that the managerial remuneration has been paid /provided in accordance with the requisite approvals mandated by the provisions of section197 read with Schedule V to the Companies Act 2013.

(xii) In our opinion the Company is not a nidhi company. Therefore the provisionsOfficlause 3(xi) of the order are not applicable to the Company and hence not commentedupon.

(xiii) Based on our audit procedures performed for the purpose of reporting the trueand fair view of the financial statements and according to the information andexplanations given by the management transactions with the related parties are incompliance with section 177 and 188 Officompanies Act 2013 where applicable and thedetails have been disclosed in the notes to the financial statements as required by theapplicable accounting standards.

(xiv) According to the information and explanations given to us and on an overallexamination of the balance sheet the Company has not made any preferential allotment orprivate placement of shares or fully or partly convertible debentures during the yearunder review and hence not commented upon.

(xv) Based on our audit procedures performed for the purpose of reporting the true andfair view of the financial statements and according to the information and explanationsgiven by the management the Company has not entered into any non-cash transactions withdirectors or persons connected with him.

(xvi) According to the information and explanations given to us the provisions ofsection 45-IA of the Reserve Bank of India Act 1934 are not applicable to the Company.

For S.R. BATLIBOI & ASSOCIATES LLP For D. KHANNA & ASSOCIATES
ICAI Firm registration number: 101049W/E300004 Firm registration number: 012917N
Chartered Accountants Chartered Accountants
per Shankar Srinivasan per Deepak Khanna
Partner Partner
Membership No.: 213271 Membership No.: 092140
Place of signature : Hyderabad Place of signature : Jaipur
Date : May 25 2016 Date : May 25 2016