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National Plastic Technologies Ltd.

BSE: 531287 Sector: Industrials
NSE: N.A. ISIN Code: INE896D01017
BSE LIVE 15:28 | 18 Dec 43.00 -0.20
(-0.46%)
OPEN

41.05

HIGH

45.00

LOW

41.05

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 41.05
PREVIOUS CLOSE 43.20
VOLUME 27762
52-Week high 52.95
52-Week low 31.45
P/E 42.16
Mkt Cap.(Rs cr) 26
Buy Price 43.00
Buy Qty 15.00
Sell Price 44.95
Sell Qty 100.00
OPEN 41.05
CLOSE 43.20
VOLUME 27762
52-Week high 52.95
52-Week low 31.45
P/E 42.16
Mkt Cap.(Rs cr) 26
Buy Price 43.00
Buy Qty 15.00
Sell Price 44.95
Sell Qty 100.00

National Plastic Technologies Ltd. (NATIONALPLASTIC) - Auditors Report

Company auditors report

To the Members of

National Plastic Technologies Limited Report on the Financial Statements

We have audited the accompanying financial statements of National Plastic TechnologiesLimited ("the Company") which comprise the Balance Sheet as at 31st March2017 Statement of Profit and Loss and the Cash Flow Statement for the year then ended anda summary of significant 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 of thesefinancial statements that give a true and fair view of the financial position financialperformance and cash flows of the Company in accordance with the accounting principlesgenerally accepted in India including the Accounting Standards specified under Section133 of the Act read with rule 7 of Companies (Accounts) Rules 2014. This responsibilityalso includes maintenance of adequate accounting records in accordance with the provisionsof the Act for safeguarding of the assets of the Company and for preventing and detectingfrauds and other irregularities; selection and application of appropriate accountingpolicies; making judgments and estimates that are reasonable and prudent; and designimplementation and maintenance of adequate internal financial controls and ensuring theiroperating effectiveness and the accuracy and completeness of the accounting recordsrelevant to the preparation and presentation of the financial statements that give a trueand fair view and are free from material misstatement 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 thereunder.

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 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 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:

a) in the case of the Balance Sheet of the state of affairs of the Company as at 31stMarch 2017;

b) in the case of the Statement of Profit and Loss Account of the profit of theCompany for the year ended on that date; and

c) in the case of the Cash Flow Statement of the cash flows of the Company for theyear 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 Section143 ofthe Act we give in the "Annexure 1" a statement on the matters specified inparagraphs 3 and 4 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 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 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 31stMarch 2017 and taken on record by the Board of Directors none of the directors aredisqualified as on 31st March 2017 from being appointed as a director in terms ofSection 164(2) of the Act.

f) With respect to the adequacy of the internal financial controls over financialreporting of the Company and the operating effectiveness of such controls we give ourseparate Report in "Annexure 2".

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 does not have any pending litigations which would impact its financialposition;

ii. The company did not have any long-term contracts including derivative contracts.Hence the question of any material foreseeable losses does not arise;

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

iv. The Company has provided requisite disclosures in the financial statements as toholdings as well as dealings in Specified Bank Notes during the period from 8th November2016 to 30th December 2016. Based on audit procedures and relying on the managementrepresentation we report that the disclosures are in accordance with books of accountmaintained by the Company and as produced to us by the Management. (Refer Note 41)

For C.A Patel & Sanklecha
Chartered Accountants
Firm Regd. No : 015669S
Bharat Raj Sanklecha
Place: Chennai Partner
Date: 29th May 2017 Membership No. 027539

ANNEXURE 1 TO THE INDEPENDENT AUDITOR'S REPORT

The Annexure referred to in paragraph 1 of our Report of even date to the members ofNational Plastic Technologies Limited on the accounts of the Company for the year ended31st March 2017.

On the basis of such checks as we considered appropriate and according to theinformation and explanation given to us during the course of our audit we report that:

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

b. During the year the fixed assets of the Company have been physically verified bythe management and as informed no material discrepancies were noticed on suchverification. In our opinion the frequency of such verification is reasonable havingregard to the size of the Company and the nature of its assets.

c. The title deeds of immovable properties are in the name of the company.

2. a. The management at reasonable intervals has physically verified the inventoriesduring the year. b.No material discrepancies were noticed during physical verification ofinventory

3. The Company has not granted any loans secured or unsecured to companies firmsLimited Liability Partnership or other parties covered in the register maintained underSection 189 of the Act.

4. The Company has not granted any loans or made any investments or given any guaranteeand security within the provision of Section 185 and 186 of the Companies Act2013.

5. The Company has not accepted any deposits from public.

6. As informed to us the Central Government has not prescribed the maintenance of costrecords under sub-section (1) of Section 148 of the Companies Act 2013.

7. (a)The company is regular in depositing undisputed statutory dues includingProvident Fund Employees' State Insurance income-tax sales-tax service tax valueadded tax customs duty excise duty cess and any other statutory dues to the appropriateauthorities.

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

(b)According to the information and explanations given to us and records of the Companyexamined by us there are no dues of income tax sales tax service tax customs duty excise duty value added tax or cess outstanding as on 31st March 2017 which have not beendeposited on account of any dispute.

8. The Company has not defaulted in repayment of loans or borrowing to financialinstitutions banks governments or dues to debenture holders.

9. The Company did not raise any money by way of initial public offer or further publicoffer (including debt instruments) and term loans during the year.

10. According to the information and explanations given to us no material fraud by theCompany or on the Company by its officers or employees has been noticed or reported duringthe course of our audit.

11. According to the information and explanations given to us and based on ourexamination of the records of the Company the Company has paid the managerialremuneration in accordance with the requisite approvals mandated by the Provision ofSection 197 read with Schedule V to the Act.

12.In our opinion and according to the information and explanations given to us theCompany is not a Nidhi company. Accordingly Paragraph 3 (xii) of the Order is notapplicable to the Company.

13. According to the information and explanations given to us and based on ourexamination of the record of the Company transactions with the related parties are incompliance with Sections 177 and 188 of the Act where applicable and details of suchtransactions have been disclosed in the Financial Statements as required by the applicableaccounting standards.

14. The Company has not made any preferential allotment or private placement of sharesor fully or partly convertible debentures during the year under review.

15. According to the information and explanations given to us and based on ourexamination of the records of the Company the Company has not entered into non-cashtransaction with directors or persons connected with them. Accordingly Paragraph 3(xv) ofthe Order is not applicable.

16. The Company is not required to be registered under Section 45-IA of the ReserveBank of India Act 1934.

For C.A Patel & Sanklecha
Chartered Accountants
Firm Regd. No : 015669S
Bharat Raj Sanklecha
Place: Chennai Partner
Date: 29th May 2017 Membership No. 027539