You are here » Home » Companies » Company Overview » Inox Wind Ltd

Inox Wind Ltd.

BSE: 539083 Sector: Engineering
NSE: INOXWIND ISIN Code: INE066P01011
BSE 00:00 | 20 Apr 114.30 -1.40
(-1.21%)
OPEN

115.70

HIGH

115.70

LOW

113.00

NSE 00:00 | 20 Apr 113.70 -2.30
(-1.98%)
OPEN

115.70

HIGH

115.85

LOW

112.00

OPEN 115.70
PREVIOUS CLOSE 115.70
VOLUME 14744
52-Week high 208.70
52-Week low 100.00
P/E
Mkt Cap.(Rs cr) 2,537
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 115.70
CLOSE 115.70
VOLUME 14744
52-Week high 208.70
52-Week low 100.00
P/E
Mkt Cap.(Rs cr) 2,537
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Inox Wind Ltd. (INOXWIND) - Auditors Report

Company auditors report

To the members of Inox Wind Limited

REPORT ON THE STANDALONE IND AS FINANCIAL STATEMENTS

We have audited the accompanying standalone Ind AS financial statementsof Inox Wind Limited (“the Company”) which comprise the Standalone BalanceSheet as at 31st March 2017 theStandaloneStatement Profitand Loss(including Other Comprehensive Income) the Standalone Statement of Cash Flows and theStandalone Statement of Changes in Equity for the year thenendedand accounting policiesand other explanatory information (“the Ind AS summaryofthesignificant financialstatements”).

MANAGEMENT'S RESPONSIBILITY FOR THE STANDALONE IND AS FINANCIALSTATEMENTS

The Company's Board of Directors is responsible for the mattersstated in Section 134(5) of the Companies Act 2013 (“the Act”) with respect tothe preparation of these standalone Ind AS financial statements that give a true and fairview of the financial position financial performance including other comprehensiveincome cash flows and changes in equity of the Company in accordance with the accountingprinciples generally accepted in India including the Accounting Standards (Ind AS)prescribed under Section 133 of the Act.

This responsibility also includes maintenance of adequate accountingrecords in accordance with the provisions of the Act for safeguarding the assets of theCompany and for preventing and detecting frauds and other irregularities; selection andapplication of appropriate accounting policies; making judgments and estimates that arereasonable and prudent; and design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe standalone Ind AS financial statements that give a true and fair view and are freefrom material misstatement whether due to fraud or error.

AUDITOR'S RESPONSIBILITY

Our responsibility is to express an opinion on these standalone Ind ASfinancial statements based on ouraudit.

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 there under.

We conducted our audit in accordance with the Standards on Auditingspecified under Section 143(10) of the Act. Those Standards require that we comply withethical requirements and plan and perform the audit to obtain reasonable assurance aboutwhether the standalone Ind AS financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence aboutthe amounts and the disclosures in the standalone Ind AS financial statements. Theprocedures selected depend on the auditor's judgment including the assessment of therisks of material misstatement of the standalone Ind AS financial statements whether dueto fraud or error. In making those risk assessments the auditor considers internalfinancial control relevant to the Company's preparation of the standalone Ind ASfinancial 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 overallpresentation of the standalone Ind AS financial statements.

We believe that the audit evidence we have obtained is sufficient andappropriate to provide a basis for our audit opinion on the standalone Ind AS financialstatements.

OPINION</b>

In our opinion and to the best of our information and according to theexplanations given to us the aforesaid standalone Ind AS financial statements give theinformation required by the Act in the manner so required and give a true and fair view inconformity with the accounting principles generally accepted in India including the IndAS of the financial position of the Company as at 31st March 2017 financial performanceincluding other comprehensive income its cash flows and changes in equity for the yearended on that date.

REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS

1. As required by the Companies (Auditor's Report) Order 2016issued by the Central Government of India in terms of sub-section (11) of section 143 ofthe Act we give in the Annexure I a statement on the matters specified in paragraph 3 and4 of the said Order.

2. As required by Section 143 (3) of the Act we report that:

(a) We have sought and obtained all the information and explanationswhich to the best of our knowledge and belief were necessary for the purposes of ouraudit.

(b) In our opinion proper books of account as required by law havebeen kept by the Company so far as it appears from our examination of those books.

(c) The Standalone Balance Sheet the Standalone Statement of Profitand Loss including Other Comprehensive Income the Standalone Statement of Cash Flows andthe Standalone Statement of Changes in Equity dealt with by this Report are in agreementwith the books of account.

(d) In our opinion the aforesaid standalone Ind AS financial Standardsprescribed under Section 133 of the Act.

(e) On the basis of the written representations received from thedirectors as on 31st March 2017 taken on record by the Board of Directors none of thedirectors is disqualified as on 31st March 2017 from being appointed as a director interms of Section 164(2) of the Act.

(f) reporting of the Company and the Withrespect totheadequacyof theinternalfinancialcontrols over financial operating effectiveness of such controls referto our separate Report in Annexure II.

(g) With respect to the other matters to be included in theAuditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors)Rules 2014 in our opinion and to the best of our information and according to theexplanations given to us: i. The Company has disclosed the impact of pending litigationson its financial position in its standalone Ind AS financial statements refer Note 41 tothe standalone Ind AS financial statements;

ii. The Company has made provision as required under the applicablelaw or accounting standards for material foreseeable losses on long-term contractsincluding derivative contracts; and

iii. There were no amounts which were required to be transferred to theInvestor Education and Protection Fund by the Company.

iv. The Company has provided requisite disclosures in the standaloneInd AS financial statements as to holdings as well as dealings in Specified Bank Notesduring the period from 8th November 2016 to 30th December 2016 and these are inaccordance with the books of account maintained by the Company refer Note 50 to thestandalone Ind AS financial statements.

For Patankar & Associates
Chartered Accountants
Firm's Registration No. 107628W
S S Agrawal
Place: Pune Partner
Date : 12th May 2017 Membership No. 049051