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P. H. Capital Ltd.

BSE: 500143 Sector: Financials
NSE: N.A. ISIN Code: INE160F01013
BSE LIVE 15:14 | 19 Sep 28.50 0.50
(1.79%)
OPEN

28.50

HIGH

28.50

LOW

28.50

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 28.50
PREVIOUS CLOSE 28.00
VOLUME 100
52-Week high 53.65
52-Week low 19.75
P/E 7.50
Mkt Cap.(Rs cr) 9
Buy Price 28.00
Buy Qty 200.00
Sell Price 29.40
Sell Qty 1185.00
OPEN 28.50
CLOSE 28.00
VOLUME 100
52-Week high 53.65
52-Week low 19.75
P/E 7.50
Mkt Cap.(Rs cr) 9
Buy Price 28.00
Buy Qty 200.00
Sell Price 29.40
Sell Qty 1185.00

P. H. Capital Ltd. (PHCAPITAL) - Auditors Report

Company auditors report

TO THE MEMBERS OF

P. H. CAPITAL LIMITED.

Report on the Financial Statements

We have audited the accompanying financial statements of P.H. CAPITAL LIMITED ("theCompany") which comprise the Balance Sheet as at 31st March 2015 the Statement ofProfit and Loss the Cash Flow Statement and a summary of the significant accountingpolicies and other explanatory information for the year then ended.

Management’s Responsibility for the Financial Statements

The management and the Company’s Board of Directors are responsible for thematters stated in Section 134(5) of the Companies Act 2013 ("the Act") withrespect to the preparation of these financial statements that give a true and fair view ofthe financial position financial performance and cash flows of the Company in accordancewith the accounting principles generally accepted in India including the AccountingStandards specified under Section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014. This responsibility also includes maintenance of adequateaccounting records in accordance with the preparation of the Act for safeguarding theassets of the Company and for preventing and detecting frauds and other irregularities;selection and application of appropriate accounting policies; making judgments andestimates that are reasonable and prudent; and design implementation and maintenance ofadequate internal financial controls that were operating effectively for ensuring theaccuracy and completeness of the accounting records relevant to the preparation andpresentation of the financial statements that give a true and fair view and are free frommaterial 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 andthe disclosures in the financial statements. The procedures selected depend on theauditor’s judgment including the assessment of the risks of material misstatement ofthe financial statements whether due to fraud or error. In making those risk assessmentsthe auditor considers internal financial control relevant for the Company’spreparation of the financial statements that give a true and fair view in order todesign audit procedures that are appropriate in the circumstances but not for the purposeof expressing an opinion on whether the Company has in place an adequate internalfinancial control system over financial reporting and the operating effectiveness of suchcontrols. An audit also includes evaluating the appropriateness of the accounting policiesused and the reasonableness of the accounting estimates made by the Company’sManagement and Board of Directors as well as evaluating the overall presentation of thefinancial 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 31stMarch 2015 and its profit/loss and its cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor’s Report) Order 2015 ("theOrder") issued by the Central Government of India in terms of Section 143(11) of theAct we give in the Annexure a statement on the matters specified in paragraphs 3 and 4 ofthe Order.

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 purposes 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 the Statement of Profit and Loss and the Cash Flow Statementdealt with 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 the written representations received from the directors as on 31stMarch 2015 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-refer Notes 24 to the financial statements

ii. The Company as detailed in Note 25 to the financial statements has madeprovision as required under the applicable law or accounting standards for materialforeseeable losses if any on long-term and other derivative contracts;

iii. There were no amounts which were required to be transfer to the InvestorEducation and Protection Fund by the Company during the year ended 31.03.2015.

For S. P. JAIN & ASSOCIATES
CHARTERED ACCOUNTANTS
Firm Reg. No. 103969W
KAPIL K. JAIN
Place : Mumbai. (PARTNER)
Date : 22-05-2015 Membership No. 108521

ANNEXURE TO THE INDEPENDENT AUDITORS’ REPORT

Referred to in Paragraph 1 under the heading "Report on other legal and regulatoryrequirements" of our Independent Auditor’s Report of even date to the members ofP. H. CAPITAL LTD. On the financial statements as of and for the year ended31.03.2015

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

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

(b) A explain to us fixed assets have been physically verified by the management duringthe year and no material discrepancies were noticed on such verification. In our opinionthe frequency of verification of the fixed assets is reasonable having regard to the sizeof the Company and the nature of its assets.

(ii) (a) The inventories of the company comprises of shares and securities andaccordingly the clause for physical verification is not applicable.

(iii) The Company has not granted any loan secured or unsecured to companies firms orother parties covered in the register maintained under Section 189 of the Act.Accordingly the provisions of clauses 3(iii) (a) and 3(iii) (b) of the Order are notapplicable.

(iv) In our opinion there is an adequate internal control system commensurate with thesize of the Company and the nature of its business for the purchase of inventory and fixedassets and for the sale of shares and securities. During the course of our audit no majorweakness has been noticed in the internal control system in respect of these areas.

(v) The Company has not accepted any deposits from the public within the meaning ofSections 73 to 76 of the Act or any other relevant provisions of the Act and rules framedthere under.

(vi) To the best of our knowledge and belief the Central Government has not prescribedmaintenance of cost records under section 148 (1) of the Companies Act.

(vii) a) According to the information and explanation given to us and records beingexamined by us the company is regular in depositing the undisputed statutory duesincluding Income-tax Sales Tax Wealth Tax and other statutory dues whereverapplicable with the appropriate authorities.

b) According to the information and explanation given to us and records being examinedby us there are no outstanding dues of Income-tax Sales Tax Wealth Tax and otherstatutory dues wherever applicable which have not been deposited on account of anydisputes except as mentioned below:

Sr. No. Name of Statute Dispute is pending Nature of Dues Forum where

Asst. Year

Amount in Rs

1 Income Tax Act Income Tax Assessing officer

2001-02

843938

2 Income Tax Act IT (penalty) Assessing officer

2001-02

1717108

c) There were no amounts which were required to be transfer to the Investor Educationand Protection Fund by the Company during the year ended 31.03.2015.

(viii) The Company has accumulated losses of Rs.25955040/- (P.Y. Rs.27104376/-) at the end of the financial year which is more than the 50% of its Networth. It has not incurred cash loss during the current year but has incurred cash lossof Rs.2039789/- in the immediately previous year.

(ix) Based on our audit procedures and according to the information and explanationgiven to us we are of the opinion that the Company has not defaulted in repayment of duesto banks.

(x) According to information and explanation given to us and to the best of knowledgethe Company has not given guarantees for loans taken by others from banks or financialinstitutions.

(xi) In our opinion and according to information and explanation given to us a companyhas not received any Term Loan during the year.

(xii) During the course of our examination of books and records of the company carriedout in accordance with generally accepted auditing practices in India we have neithercome across any instance of fraud on or by the Company noticed or reported during theyear nor have we been informed of any such case by the management.

For S. P. JAIN & ASSOCIATES
CHARTERED ACCOUNTANTS
Firm Reg. No. 103969W
KAPIL K. JAIN
Place : Mumbai. (PARTNER)
Date : 22-05-2015 Membership No. 108521