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Hawa Engineers Ltd.

BSE: 539176 Sector: Engineering
NSE: N.A. ISIN Code: INE230I01018
BSE LIVE 14:43 | 15 Dec 70.40 -3.70
(-4.99%)
OPEN

75.00

HIGH

77.80

LOW

70.40

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 75.00
PREVIOUS CLOSE 74.10
VOLUME 4875
52-Week high 95.80
52-Week low 48.30
P/E 16.92
Mkt Cap.(Rs cr) 25
Buy Price 70.40
Buy Qty 50.00
Sell Price 77.70
Sell Qty 25.00
OPEN 75.00
CLOSE 74.10
VOLUME 4875
52-Week high 95.80
52-Week low 48.30
P/E 16.92
Mkt Cap.(Rs cr) 25
Buy Price 70.40
Buy Qty 50.00
Sell Price 77.70
Sell Qty 25.00

Hawa Engineers Ltd. (HAWAENGINEERS) - Auditors Report

Company auditors report

TO THE MEMBERS OF HAWA ENGINEERS LIMITED.

Report on the Financial Statements

We have audited the accompanying financial statements of HAWA ENGINEERS LIMITED("the company")which comprise the Balance Sheet as at 31 March 2015 theStatement of Profit and Loss the Cash Flow Statement for the year then ended and asummary of significant accounting policies and other explanatory information. Management'sResponsibility for the Financial Statements

The Company's Board of Directors is responsible for the matters in section 134(5) ofthe Companies Act 2013 ("the Act") with respect to the preparation andpresentation of these 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)Rules 2014. This responsibility also includes the maintenance of adequate accountingrecords in accordance with the provision of the Act for safeguarding the assets of theCompany and for preventing and detecting the frauds and other irregularities; selectionand application of appropriate accounting policies; making judgments and estimates thatare reasonable and prudent; and design implementation and maintenance of internalfinancial controls 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 financial statements based on ouraudit. 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 accordancewith the Standards on Auditing specified 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 theamounts and disclosures in the financial statements. The procedures selected depend on ourjudgment including the assessment of the risks of material misstatement of the financialstatements whether due to fraud or error. In making those risk assessments we considersinternal financial control relevant to the Company's preparation of the financialstatements that give true and fair view in order to design audit procedures that areappropriate 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 Company's Directors as well as evaluating the overallpresentation 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 financial statements.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid 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 2015 and its profit and cash flows for the year ended on that date. Report on OtherLegal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2015 ('the Order') issued bythe CentralGovernment of India in terms of sub-section (11) of Section 143 of the Act wegive in the Annexure a statement on the matters specified in the paragraph 3 and 4 of theorder to the extent applicable.

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 knowledgeand 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 appears from our examination of those books.

c) The Balance Sheet the Statement of Profit and Loss and Cash Flow Statement dealtwith by this Report are in agreement with the books of account.

d) In our opinion the aforesaid financial statements comply with the AccountingStandards specified under Section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014.

e) On the basis of written representations received from the directors as on 31 March2015 taken on record by the Board of Directors none of the directors is disqualified ason 31 March 2015 from being appointed as a director in terms of Section 164(2) of theAct.

f) With respect to the other matters included in the Auditor's Report and to our bestof 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 2(XXII)to the financial statements.

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

iii. There were no amounts which required to be transferred to the Investor Educationand Protection Fund by the Company.

For YUSUF C. MANSURI & CO.
Chartered Accountants
YUSUF C. MANSURI
Place : Ahmedabad M. No.038309
Date : 29th May 2015 FRN : 111768W

ANNEXURE TO THE INDEPENDENT AUDITORS' REPORT

(Referred to in paragraph 1 under 'Report on other Legal and Regulatory Requirements'section of our report of even date)

On the basis of the information and explanation given to us during the course of ouraudit we report that:

1. (a) The company has maintained proper records showing full particulars includingquantitative details and situation of its fixed assets.

(b) As explained to us fixed assets have been physically verified by the management atreasonable intervals. In our opinion and according to the information and explanationsgiven to us no material discrepancies were noticed on such verification.

2. (a) The inventories have been physically verified during the year by the managementat reasonable intervals. In our opinion the frequency of such physical verification isreasonable.

(b) In our opinion and according to the information and explanations given to us theprocedures of physical verification of inventories followed by the management arereasonable and adequate in relation to the size of the company and the nature of itsbusiness.

(c) In our opinion and on the basis of our examination of the records the Company isgenerally maintaining proper records of its inventories. No material discrepancy wasnoticed on physical verification of stocks by the management as compared to book records.

3. The company has not granted loans secured or unsecured to companies firms or otherparties covered in the register maintained under section 189 of the Companies Act

4. In our opinion and according to the information and explanations given to us thereis generally an adequate internal control procedure commensurate with the size of thecompany and the nature of its business for the purchase of inventories and fixed assetsand for sale of goods. During the course of our audit we have not observed any majorweakness or continuing failure to correct major weakness in internal control system of thecompany in respect of these areas.

5. In our opinion and according to the information and explanations given to us theCompany has not accepted any deposits from the public.

6. We have broadly reviewed the cost records maintained by the company pursuant to thecompanies (Cost Records and Audit) Rules 2014 prescribed by the Central Government undersub section (1) of section 148 of the Companies Act 2013 and are of the opinion thatprima facie the prescribed cost records have been made and maintained. We have howevernot made a detailed examination of the cost records with a view to determine whether theyare accurate or complete.

7. (a) According to the records of the company undisputed statutory dues includingProvident Fund

Investor Education and Protection Fund Employees' State Insurance Income-taxSales-tax Wealth Tax Service Tax Custom Duty Excise Duty cess to the extentapplicable and any other statutory dues have generally been regularly deposited with theappropriate authorities. According to the information and explanations given to us therewere no outstanding statutory dues as on 31st of March 2015 for a period ofmore than six months from the date they became payable.

(b) According to the information and explanations given to us there is no amountspayable in respect of income tax wealth tax service tax sales tax customs duty andexcise duty which have not been deposited on account of any disputes.

(c) In our opinion there were no amounts which required to be transferred to theInvestor Education and Protection Fund by the Company.

8. The Company does not have any accumulated loss at the end of the financial year andit has not incurred cash losses in the current and immediately preceding financial year.

9. Based on our audit procedures and on the information and explanations given by themanagement we are of the opinion that the Company has not defaulted in repayment of duesto a financial institution bank.

10. In our opinion and according to the information and explanations given to us theCompany has not given any guarantees for loan taken by others from a bank or financialinstitution.

11. In our opinion and according to the information and explanations given to us theterms loans have been applied for the purpose for which loans were obtained other thantemporary deployment pending application

12. Based on the audit procedures performed and the information and explanations givento us we report that no fraud on or by the Company has been noticed or reported duringthe year nor we have been informed of such case by the management.

For YUSUF C. MANSURI & CO.
Chartered Accountants
YUSUF C. MANSURI
Place : Ahmedabad M. No.038309
Date : 29th May 2015 FRN : 111768W