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Raghav Ramming Mass Ltd.

BSE: 539837 Sector: Metals & Mining
NSE: N.A. ISIN Code: INE912T01018
BSE LIVE 14:04 | 07 Sep 134.00 21.90
(19.54%)
OPEN

134.00

HIGH

134.00

LOW

134.00

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 134.00
PREVIOUS CLOSE 112.10
VOLUME 1000
52-Week high 166.90
52-Week low 60.00
P/E 37.96
Mkt Cap.(Rs cr) 96
Buy Price 105.00
Buy Qty 1000.00
Sell Price 134.40
Sell Qty 1000.00
OPEN 134.00
CLOSE 112.10
VOLUME 1000
52-Week high 166.90
52-Week low 60.00
P/E 37.96
Mkt Cap.(Rs cr) 96
Buy Price 105.00
Buy Qty 1000.00
Sell Price 134.40
Sell Qty 1000.00

Raghav Ramming Mass Ltd. (RAGHAVRAMMING) - Auditors Report

Company auditors report

To

The Members of

M/s Raghav Ramming Mass Limited

Report on the Standalone Financial Statements

We have audited the accompanying standalone financial statements of Raghav RammingMass Limited ("the Company") which comprise the Balance Sheet as at March31 2016 and the Statement of Profit and Loss and Cash Flow Statement for the year thenended and a summary of significant accounting policies and other explanatory information.

Management’s Responsibility for the standalone 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 preparationand presentation of these standalone financial statements that give a true and fair viewof the financial position financial performance and cash flows of the Company inaccordance with the accounting principles generally accepted in India including theAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014. This responsibility also includes maintenance ofadequate accounting records in accordance with the provisions of the Act for safeguardingthe assets of the Company and for preventing and detecting frauds and otherirregularities; selection and application of appropriate accounting policies; makingjudgments and estimates that are reasonable and prudent; and design implementation andmaintenance of adequate internal financial controls that were operating effectively forensuring the accuracy and completeness of the accounting records relevant to thepreparation and presentation of the financial statements that give a true and fair viewand are free from material misstatement 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 ofthe financial statements whether due to fraud or error. In making those risk assessmentsthe auditor considers internal financial control relevant to the Company’spreparation of the financial statements that give a true and fair view in order to designaudit procedures that are appropriate in the circumstances but not for the purpose ofexpressing an opinion on whether the Company has in place an adequate internal financialcontrols system over financial reporting and the operating effectiveness of such controls.An audit also includes evaluating the appropriateness of the accounting policies used andthe reasonableness of the accounting estimates made by the Company’s Directors aswell as evaluating the overall 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 of the state of affairs of the Companyas at 31 March 2015 and its profit and its cash flows for the year ended on that date.

Report on Other Legal & Regulatory Requirement

1. As required by the Companies (Auditor’s Report) Order 2015 ("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 statement on the matters specified inthe paragraph 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 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 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 the written representations received from the directors as on 31March 2016 taken on record by the Board of Directors none of the directors isdisqualified as on 31 March 2016 from being appointed as a director in terms of Section164 (2) of the Act; and

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

ii. The Company did not have any long term contract including derivatives contracts forwhich there were any material foreseeable losses; and

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

For B. P.Mundra and Co.

Chartered Accountants

FRN: 004372C

(Braham Prakash Mundra)

Partner

M.No. 070749

Place: Jaipur

Date: 27/05/2016

Annexure to the Independent Auditors’ Report

The Annexure referred to in our Independent Auditors’ Report to the members of theCompany on the standalone financial statements for the year ended 31 March 2016 we reportthat:

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

(b) All the assets have been physically verified by the management during the year andthere is a regular program of verification which in our opinion is reasonable havingregard to the size of the company and the nature of its assets No material discrepancieswere noticed on such verification.

(ii) (a) The inventory has been physically verified during the year by themanagement. In our opinion the frequency of verification is reasonable.

(b) The procedure of physical verification of inventory followed by the management isreasonable and adequate in relation to the size of the company and nature of its business.

(c) In our opinion and according to the information and explanation given to us and onthe basis of our examination of the records of inventory the company is maintainingproper records of inventory. The discrepancies noticed on physical verification ofinventory as compared to book records were not material and have been properly dealt within the books of accounts.

(iii) (a) The Company has not granted any loans secured or unsecured tocompanies Firms or other parties covered in the Register maintained under Section 189 ofThe companies act 2013 . Hence the sub clause (b) and (c) of Clause iii of the Order isnot applicable.

(iv) In our opinion and according to the information and explanations given to usthere is an adequate internal control system commensurate with the size of the company andthe nature of its business with regard to purchases of inventory and fixed assets and withregard to the sale of goods and services. During the course of our audit we have notobserved any continuing failure to correct major weaknesses in internal controls

(v) The Company has accepted any deposits from the Public

(vi) According to the information & explanation given to us the company hasmaintained cost accounts & records as prescribed by the Central Government underSection 148(1) of the Companies Act 2013. However we have not made a detailed examinationof such accounts & records with a view to determine whether they are adequate orcomplete.

(vii) (a) According to the information and explanations given to us and on thebasis of our examination of the records of the Company amounts deducted/ accrued in thebooks of account in respect of undisputed statutory dues including provident fundemployees’ state insurance income tax sales tax wealth tax service tax duty ofcustoms value added tax cess and other material statutory dues to the extent applicablehave been regularly deposited during the year by the Company with the appropriateauthorities.

According to the information and explanations given to us no undisputed amountspayable in respect of provident fund income tax sales tax wealth tax service tax dutyof customs value added tax cess and other material statutory dues were in arrears as at31 March 2016 for a period of more than six months from the date they became payable.

(b) According to the information and explanation given to us there are no pendingdues of Income Tax Sales Tax Wealth Tax Service Tax Custom Duty Excise Duty Cesswhich are not deposited on account of dispute.

(c) According to the information and explanations given to us there were noamounts which were required to be transferred to the investor education and protectionfund in accordance with the relevant provisions of the Companies Act 1956 (1 of 1956) andrules thereunder.

(viii) The Company does not have any accumulated losses at the end of the financialyear and has not incurred cash losses in the financial year and in the immediatelypreceding financial year

(ix) The Company have not defaulted in repayment of dues to a financialinstitutions banks or debenture holders during the year In our opinion and according tothe information and the explanations given to us

(x) the Company has not given any guarantee for loans taken by others from banks orfinancial institutions.

(xi) To the best of knowledge and belief and according to the information &explanation given to us term loan availed by the Company were prime facie applied by thecompany during the year for the purpose for which the loan were obtained.

(xii) According to the information and explanations given to us no material fraudon or by the Company has been noticed or reported during the course of our audit.

For B. P.Mundra and Co.

Chartered Accountants

FRN: 004372C

(Braham Prakash Mundra)

Partner

M.No. 070749

Place: Jaipur

Date: 27/05/2016

Report on Internal Financial Controls Over Financial Reporting

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section143 of the Companies Act 2013 ("the Act")

We have audited the internal financial controls over financial reporting of RaghavRamming Mass Limited ("the Company") as of March 31 2016 in conjunctionwith our audit of the financial statements of the Company for the year ended on that date.

Management’s Responsibility for Internal Financial Controls

The Company’s management is responsible for establishing and maintaining internalfinancial controls based on the internal control over financial reporting criteriaestablished by the Company considering the essential components of internal control statedin the Guidance Note on Audit of Internal Financial Controls Over Financial Reportingissued by the Institute of Chartered Accountants of India. These responsibilities includethe design implementation and maintenance of adequate internal financial controls thatwere operating effectively for ensuring the orderly and efficient conduct of its businessincluding adherence to company’s policies the safeguarding of its assets theprevention and detection of frauds and errors the accuracy and completeness of theaccounting records and the timely preparation of reliable financial information asrequired under the Companies Act 2013.

Auditors’ Responsibility

Our responsibility is to express an opinion on the Company's internal financialcontrols over financial reporting based on our audit. We conducted our audit in accordancewith the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting(the "Guidance Note") and the Standards on Auditing issued by ICAI and deemedto be prescribed under section 143(10) of the Companies Act 2013 to the extentapplicable to an audit of internal financial controls both applicable to an audit ofInternal Financial Controls and both issued by the Institute of Chartered Accountants ofIndia. Those Standards and the Guidance Note require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetheradequate internal financial controls over financial reporting was established andmaintained and if such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy ofthe internal financial controls system over financial reporting and their operatingeffectiveness. Our audit of internal financial controls over financial reporting includedobtaining an understanding of internal financial controls over financial reportingassessing the risk that a material weakness exists and testing and evaluating the designand operating effectiveness of internal control based on the assessed risk. The proceduresselected depend on the auditor’s judgement including the assessment of the risks ofmaterial misstatement of the financial statements whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the Company’s internal financial controlssystem over financial reporting.

Meaning of Internal Financial Controls Over Financial Reporting

A company's internal financial control over financial reporting is a process designedto provide reasonable assurance regarding the reliability of financial reporting and thepreparation of financial statements for external purposes in accordance with generallyaccepted accounting principles. A company's internal financial control over financialreporting includes those policies and procedures that

1. pertain to the maintenance of records that in reasonable detail accurately andfairly reflect the transactions and dispositions of the assets of the company;

2. provide reasonable assurance that transactions are recorded as necessary topermit preparation of financial statements in accordance with generally acceptedaccounting principles and that receipts and expenditures of the company are being madeonly in accordance with authorizations of management and directors of the company; and

3. provide reasonable assurance regarding prevention or timely detection ofunauthorized acquisition use or disposition of the company's assets that could have amaterial effect on the financial statements.

Inherent Limitations of Internal Financial Controls Over Financial Reporting

Because of the inherent limitations of internal financial controls over financialreporting including the possibility of collusion or improper management override ofcontrols material misstatements due to error or fraud may occur and not be detected.Also projections of any evaluation of the internal financial controls over financialreporting to future periods are subject to the risk that the internal financial controlover financial reporting may become inadequate because of changes in conditions or thatthe degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion the Company has in all material respects an adequate internalfinancial controls system over financial reporting and such internal financial controlsover financial reporting were operating effectively as at March 31 2016 based on theinternal control over financial reporting criteria established by the Company consideringthe essential components of internal control stated in the Guidance Note on Audit ofInternal Financial Controls Over Financial Reporting issued by the Institute of CharteredAccountants of India.

For BP Mundra & Company
F.R.No. 004372C
Chartered Accountants
Place: JAIPUR (Braham Prakash Mundra)
Date: 27th May 2016 Partner
M. No.070749