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National Plastic Industries Ltd.

BSE: 526616 Sector: Industrials
NSE: N.A. ISIN Code: INE233D01013
BSE LIVE 15:55 | 18 Aug 64.90 -0.35
(-0.54%)
OPEN

69.90

HIGH

69.90

LOW

63.90

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 69.90
PREVIOUS CLOSE 65.25
VOLUME 2483
52-Week high 110.00
52-Week low 42.00
P/E 51.10
Mkt Cap.(Rs cr) 59
Buy Price 0.00
Buy Qty 0.00
Sell Price 64.90
Sell Qty 287.00
OPEN 69.90
CLOSE 65.25
VOLUME 2483
52-Week high 110.00
52-Week low 42.00
P/E 51.10
Mkt Cap.(Rs cr) 59
Buy Price 0.00
Buy Qty 0.00
Sell Price 64.90
Sell Qty 287.00

National Plastic Industries Ltd. (NATLPLASTIC) - Auditors Report

Company auditors report

INDEPENDENT AUDITORS Rs. REPORT

To

The Members of

NATIONAL PLASTIC INDUSTRIES LIMITED

Report on the Financial Statements

We have audited the accompanying financial statements of NATIONAL PLASTIC INDUSTRIESLIMITED ("the company Rs. ) which comprises Balance Sheet as at 31stMarch 2016 the Statement of Profit and Loss Account and Cash Flow Statement for theyear ended 31st March 2016 and a summary of significant accounting policies andother explanatory information.

Managements Rs. Responsibility for the Financial Statements

The Company Rs. s Board of Directors is responsible for the matters stated in Section134(5) of the Companies Act 2013 ("the Act") with respect to the presentation ofthese financial statements that give a true and fair view of the financial position andfinancial performance and cash flows of the Company in accordance with the accountingprinciples generally accepted in India including the Accounting Standards specified undersection 133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014. Thisresponsibility also includes maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding the assets of the Company and for preventingand detecting frauds and other irregularities; selection and application of appropriateaccounting policies ; making judgments and estimates that are reasonable and prudent ; anddesign implementation and maintenance of adequate internal financial controls that wereoperating effectively for ensuring the accuracy and completeness of 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 Rs. 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 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 Rs.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 control relevant to the Company Rs. s preparation ofthe financial statements that give a true and fair view in order to design auditprocedures that are appropriate in the circumstances but not for the purpose of expressingan opinion on whether the company has in place adequate internal financial controls 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 Rs. 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.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the financial statements give the information required by the Act in themanner 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 2016

b. In the case of the Profit and Loss Account of the Profits for the year ended onthat date.

c. In the case of the Cash Flow Statement of the cash flows for the year ended on thatdate.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor Rs. s Report) order 2016 ("TheOrder") issued by the Central Government of India in terms of sub section (11) ofsection 143 of the Act we give in the Annexure A a statement on the matters specified inthe paragraphs 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 obtained all the information and explanations which to the best ourknowledge and belief were necessary for the purpose of audit.

b. In our opinion proper books of accounts as required by law have been kept by theCompany so far as appears from our examination of those books.

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

d. In our opinion the aforesaid financial statements comply with the accountingstandards referred to in the Section 133 of the Companies Act 2013 and read with Rule No7 of the Companies (Accounts) Rules 2014.

e. On the basis of representations received from the directors as on Mar 31 2016 andtaken on record by the Board of Directors none of the directors is disqualified as on Mar312016 from being appointed as a director in terms of Section 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 refer to ourseparate Report in Rs. Annexure B Rs. .

g. There are no details to be reported for the other matters to be included in theAuditor Rs. s Report in accordance with Rule 11 of the Companies (Audit and Auditors)Rules 2014.

For Sheth Doctor and Associates
Chartered Accountants
(Firm Regn No. 124822W)
Paresh S. Doctor
Place: Mumbai Proprietor
Date: 27th May 2016 Membership No. 36056

ANNEXURE TO THE AUDITORS Rs. REPORT

(REFERRED TO IN THE REPORT OF EVEN DATE OF THE AUDITORS TO THE MEMBERS OF NATIONAL

PLASTIC INDUSTRIES LIMITED ON THE ACCOUNTS FOR THE PERIOD ENDED 31stMarch 2016)

1) a) The company has maintained proper records showing full particulars includingquantitative details and

situation of fixed assets.

b) As explained to us major portion of the fixed assets have been physically verifiedby the management at the year end which in our opinion is reasonable having regard to thesize of the company and nature of its assets. No material discrepancies were noticed onsuch physical verification.

c) According to the information and explanations given to us and on the basis ofexamination of the records of the company the title deeds of immoveable properties areheld in the name of the company except for freehold land and building situated atKashimira having written down value of Rs. 8.86 Lacs and Rs. 104.11 lacsrespectively. However the company is in the possession of the said property and the samehas been let out by the company.

2) a) Inventories except for goods in transit and stocks lying with the third partieshave been physically verified

during the year by the Management at reasonable intervals. In my opinion the frequencyof verification is reasonable.

b) The discrepancies noticed on verification between physical stocks and book recordsare not material and have been adequately dealt with in books of the company.

3) According to the information and explanations given to us the Company has notgranted any loans secured or unsecured to Companies firms limited liabilitypartnerships or other parties covered in the Register maintained under Section 189 of theCompanies Act 2013 ( Rs. the Act"). Accordingly paragraphs 3(iii)(a) and (b) of theOrder are not applicable to the Company.

4) In our opinion and according to the information and explanations given to us theCompany has not granted any loans or made any investments or provided any guarantees orsecurity to the parties covered under Section 185 of the Act. Accordingly the paragraph3(iv) of the Order is not applicable to the Company.

5) In our opinion and according to the information and explanations given to us theCompany has not accepted any deposits from the public within the meaning of provisions ofsections 73 to 76 and the rules framed there under. Accordingly paragraph 3(v) of theOrder is not applicable to the Company.

6) The maintenance of cost records is not applicable to the Company as per theprovisions of section 148 of the Companies Act 2013 and rules framed there under.Accordingly paragraph 3(vi) of the Order is not applicable to the Company.

7) a) According to the information and explanations given to us and on the basis ofexamination of the records of

the company the amounts deducted/accrued in the books of account in respect ofundisputed statutory dues including Provident Fund Investor Education and ProtectionFund Employee Rs. s State Insurance income tax sales tax service tax value added taxCustom Duty Excise Duty Cess and other statutory dues as applicable have beengenerally regularly deposited during the year by the Company with the appropriateauthorities. According to the information and explanations given to us there were noundisputed amounts payable in respect of above dues at the year-end for the period of morethan six months from the date they become payable except for a sum of Rs. 2.39 lacs(out of which Rs. 0.29 lacs has been since paid)

b) On the basis of our examination of the documents and records there are no disputedstatutory due which remains to be deposited with the appropriate authorities.

8) According to the information and explanations given to us and on the basis ofexamination of the records the Company it has not defaulted during the year in repaymentof loans and borrowings from banks. The Company does not have any loans or borrowings fromfinancial institutions or government or dues to debenture holders during the year.

9) According to the information and explanations given to us and on the basis ofexamination of the records of the Company the Company has not raised any moneys by way ofinitial public offers (including debt instruments) and has not obtained any term loansduring the year. Accordingly Paragraph 3(ix) of the Order is not applicable to theCompany.

10) During the course of our examination of the books and records of the Companycarried out in the accordance with the generally accepted audit practices in India andaccording to the information and explanations given

to us we have neither come across any instance of material fraud by the Company or onthe Company by its officers or employees noticed or reported during the year nor have webeen informed of any such case by the management.

11) In our opinion and according to the information and explanations given to us themanagerial Remuneration has been paid or provided in accordance with the requisiteapprovals mandated by the provisions of section 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 and the in Nidhi Rules 2014 are not applicable to it.Accordingly Paragraph 3(xii) of the Order is not applicable to the Company.

13) In our opinion and according to the information and explanations given to us theCompany has entered into transactions with related parties in compliance with theprovisions of Sections 177 and 188 of the Act where applicable and the details of suchrelated party transactions have been disclosed in the financial statements as required byAccounting Standard (AS) 18 Related Party Disclosures specified under Section 133 of theAct read with Rule 7 of the Companies (Accounts) Rules 2014.

14) According to the information and explanations given to us and on the based onexamination of the records of the Company the company has not made any preferentialallotment or private placement of shares or fully or partly convertible debentures duringthe year. Accordingly Paragraph 3(xiv) of the Order is not applicable to the Company.

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

16) In our opinion and according to the explanations given to us the Company is notrequired to be registered under section 45-IA of the Reserve Bank of India Act1934.Accordingly Paragraph 3(xvi) of the Order is not applicable to the Company.

For Sheth Doctor and Associates
Chartered Accountants
(Firm Regn No. 124822W)
Paresh S. Doctor
Place: Mumbai Proprietor
Date: 27th May 2016 Membership No. 36056