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Nahar Polyfilms Ltd.

BSE: 523391 Sector: Industrials
NSE: NAHARPOLY ISIN Code: INE308A01027
BSE LIVE 15:55 | 17 Nov 60.00 -0.10
(-0.17%)
OPEN

60.85

HIGH

61.00

LOW

58.05

NSE 15:31 | 17 Nov 59.30 -0.85
(-1.41%)
OPEN

61.20

HIGH

62.50

LOW

58.55

OPEN 60.85
PREVIOUS CLOSE 60.10
VOLUME 12483
52-Week high 68.80
52-Week low 47.00
P/E 27.15
Mkt Cap.(Rs cr) 147
Buy Price 60.00
Buy Qty 989.00
Sell Price 0.00
Sell Qty 0.00
OPEN 60.85
CLOSE 60.10
VOLUME 12483
52-Week high 68.80
52-Week low 47.00
P/E 27.15
Mkt Cap.(Rs cr) 147
Buy Price 60.00
Buy Qty 989.00
Sell Price 0.00
Sell Qty 0.00

Nahar Polyfilms Ltd. (NAHARPOLY) - Auditors Report

Company auditors report

TO THE MEMBERS OF

M/s. NAHAR POLY FILMS LIMITED

LUDHIANA

Report on the Standalone Financial Statements

We have audited the accompanying standalone financial statements of M/s Nahar PolyFilms Limited ("the Company") which comprise the Balance Sheet as at March31 2015 and the Statement of Profit and Loss and the Cash Flow Statement for the yearthen ended and a summary of significant accounting policies and other explanatoryinformation.

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 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 maintenance of adequate accounting recordsin accordance with the provisions of the Act for safeguarding 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 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 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 there under.

We conducted our audit in accordance with the Standards on Auditing specified underSection 143(10) of the Act. Those Standards require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetherthe 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 theauditor's judgment including the assessment of the risks of material misstatement of thefinancial statements whether due to fraud or error. In making those risk assessments theauditor considers internal financial controls 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 but not for the purpose of expressing anopinion on whether the Company has in place an adequate internal financial control systemover financial 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 the Company's Directors as well as evaluating theoverall 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:

(a) in the case of the Balance Sheet of the state of affairs of the Company as atMarch 31 2015;

(b) in the case of the statement of Profit & Loss of the profit/ loss for the yearended on that date; and

(c) in the case of the Cash Flow Statement of the cash flows for the year ended onthat date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2015 ("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 a statement on the matters specified in paragraphs 3 and4 of the Order 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 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 appears from our examination of such 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 specified 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 31stMarch 2015 and taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2015 from being appointed as a director in terms of Section164(2) 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 has disclosed the impact of pending litigations on its financialposition in its financial statements.

(ii) The company did not have any long term contacts 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 GUPTA VIGG & CO.
Chartered Accountants
FRN 001393N
Place : Ludhiana VINOD KUMAR KHANNA
Dated : 30.05.2015 (Partner)
M.No.: 081585

ANNEXURE TO INDEPENDENT AUDITORS' REPORT

[Referred to in paragraph (1) under section "Reporting on Other Legal andRegulatory Requirements" of our report of even date]

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

b) According to the information and explanations given to us the company has adopted apolicy of physically verification of the fixed assets in a phased manner. In accordancewith this policy certain fixed assets were verified during the year and no materialdiscrepancies were noticed on such verification. In our opinion this periodicity ofphysical verification is reasonable having regard to the size of the Company and thenature of its assets.

ii) a) Physical verification has been carried out by the Management in respect ofinventory at reasonable intervals including as on March 31 2015. In our opinion thefrequency of verification is reasonable.

b) Based on information and explanations given to us and the records produced to us inour view the procedures of physical verification of inventory followed by the managementduring the year are reasonable and adequate in relation to the size of the Company and thenature of its business.

c) The Company is maintaining proper records of inventory. As per the information givento us the discrepancies noticed on physical verification of Inventories as compared tobook records were not material and have been dealt properly in the books of account.

iii) According to the information and explanations given to us the company has notgranted unsecured loans to the companies covered in the register maintained under section189 of the Companies Act. iv) In our opinion and according to the information andexplanations given to us there are adequate internal control systems commensurate withthe size of the company and the nature of its business for the purchase of inventory andfixed assets and with regard to sale of goods and services. During the course of ouraudit we have not observed any continuing failure to correct major weaknesses in internalcontrol systems.

v) According to the information and explanations given to us the company has notaccepted deposits from public during the year covered under the provisions of section 73or 76 any other relevant provisions of the Companies Act 2013 and the Companies(Acceptance of Deposits) Rules 2014.

vi) According to the information and explanations given to us the maintenance of costrecords has not been prescribed u/s 148 of the Companies Act 2013.

vii) (a) According to the information and explanations given to us and records of theCompany examined by us the company has been regular in depositing undisputed statutorydues including provident fund employees' state insurance income-tax sales-tax wealthtax service tax duty of custom duty of excise value added tax cess and any otherstatutory dues with the appropriate authorities. According to the information andexplanations given to us no undisputed amounts in respect of statutory dues payable wereoutstanding as at the last day of the financial year concerned for a period of more thansix months from the date they became payable. According to the information and explanationgiven to us no order under its aforesaid sections has been passed by the company lawboard or the Reserve Bank of India or any Court or any other Tribunal on the company.

(b) According to the records of the company and information and explanation given tous there are no dues of statutory dues that have not been deposited on account of anydispute.

(c) According to the information and explanations given to us the amounts which wererequired to be transferred to the investor education and protection fund in accordancewith the relevant provisions of the Companies Act 1956 (1 of 1956) and rules there underhas been transferred to such fund within time.

In our opinion and according to the information and explanations given to us thecompany does not have accumulated losses and has not incurred cash losses during thefinancial year covered by our audit and the 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 any financial institutions or banks.

x) In accordance with the information and explanations given to us the Company has notgiven any guarantee for loans taken by others from bank or financial institutions.

xi) In our opinion and according to the information and explanations given to us thecompany has not taken any term loan during the year.

xii) Further on the basis of information and explanation given to us we report that nofraud on or by the company has been noticed or reported during the course or our audit.

For GUPTA VIGG & CO.
Chartered Accountants
FRN 001393N
Place : Ludhiana VINOD KUMAR KHANNA
Dated : 30.05.2015 (Partner)
M.No.: 081585