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Shree Hari Chemicals Export Ltd.

BSE: 524336 Sector: Industrials
NSE: N.A. ISIN Code: INE065E01017
BSE LIVE 15:40 | 18 Aug 52.25 0.30
(0.58%)
OPEN

51.00

HIGH

52.50

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50.90

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 51.00
PREVIOUS CLOSE 51.95
VOLUME 2812
52-Week high 118.40
52-Week low 49.00
P/E
Mkt Cap.(Rs cr) 23
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 51.00
CLOSE 51.95
VOLUME 2812
52-Week high 118.40
52-Week low 49.00
P/E
Mkt Cap.(Rs cr) 23
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Shree Hari Chemicals Export Ltd. (SHHARICHEM) - Auditors Report

Company auditors report

To the Members of Shree Hari Chemicals Export Ltd.

Report on the Financial Statements

We have audited the accompanying financial statements of Shree Hari Chemicals ExportsLtd. (the Company ) which comprise of the Balance Sheet as at March 31 2016 theStatement of Profit and Loss and Cash Flow Statement for the year then ended and asummary 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 in section 134(5) ofthe Companies Act 2013 ( the Act ) with respect to the preparation of these financialstatements that give a true and fair view of the financial position financial performanceand cash flows of the Company in accordance with the accounting principles generallyaccepted in India including the Accounting Standards specified under Section 133 of theAct read with Rule 7 of the Companies (Accounts) Rules 2014. This responsibility alsoincludes the maintenance of adequate accounting records in accordance with the provisionof the Act for safeguarding of the assets of the Company and for preventing and detectingthe frauds and other irregularities; selection and application of appropriate accountingpolicies; making judgments and estimates that are reasonable and prudent; and designimplementation and maintenance of internal financial control that were operatingeffectively for ensuring the accuracy and completeness of the accounting records relevantto the preparation and presentation of the financial statements that give a true and fairview 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 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 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 true and fair view in order to design audit procedures thatare appropriate in the circumstances. An audit also includes evaluating theappropriateness of accounting policies used and the reasonableness of the accountingestimates made by Company s Directors as well as evaluating the overall presentation ofthe 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 March31 2016;

b) in the case of the Statement of Profit and Loss of the profit for the year ended onthat date; and

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

As required by the Companies (Auditor s Report) Order 2016 ( the order ) issued bythe Central Government of India in terms of sub-section (11) of Section 143 of CompaniesAct 2013 and on the basis of such checks of the books and records of the Company as weconsidered appropriate and according to the information and explanations given to us wegive in the Annexure I a statement on the matters specified in paragraphs 3 and 4 of theOrder to the extent applicable.

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 appears from our examination of those books.

c) The Balance Sheet the Statement of Profit and Loss and Cash Flow Statement dealtwith by this Report are in agreement with the books of account

d) On the Basis of written representations received from the Board of Directors as onMarch 31 2016 and taken on record by the Board of Directors none of the directors isdisqualified as on March 312016 from being appointed as a Directors in terms ofsub-section (2) of section 164 of the Act;

e) With respect to the other matters to be included in the Auditor s Report and to ourbest 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 contracts including derivatives contractsfor which 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 Kailash Chand Jain & Co.
Chartered Accountants
FRN: 112318W
Kiran Awasthi
Date: 30/05/2016 Partner
Place: Mumbai. M. No. 100615

Annexure-I to the Independent Auditors Report

The Annexure referred to in Para -1 of our Report on other Legal and RegulatoryRequirements to the members of the Company on the Standalone financial statement for theyear ended on 31st March 2016 we report that :

We report that :

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

(b) As informed to us the fixed assets have been physically verified by the managementat reasonable intervals and no material discrepancies were noticed on such verification.Which in our opinion is reasonable having regards to size of the Company and nature of itsassets.

(c) The title deeds of Immovable properties of are held in the name of the Shree HariChemicals Export Limited.

(ii) As informed to us Physical verification of inventory has been conducted atreasonable intervals by the management and no material discrepancies were noticed on suchverification. Which in our opinion is reasonable having regards to size of the Company andnature of its assets.

(iii) In respect of loans the Company has not granted any secured or unsecured loan toCompanies firms Limited Liability Partnerships or other parties covered in the registermaintained under section 189 of the Companies Act 2013. Accordingly the clause 3(iii)(a) 3(iii) (b) and 3(iii) (c) of the Order are not applicable to the Company.

(iv) As information provided to us there are no instances of loans investmentsguarantees and security covered under Sec 185 and 186 of the Companies Act 2013 thathave not been complied with.

(v) The Company has not accepted any deposits hence the directives issued by theReserve Bank of India and the provisions of sections 73 to 76 or any other relevantprovisions of the Companies Act and the rules framed there under are not applicable tothe Company.

(vi) Maintenance of cost records has not been specified by the Central Government undersub-section (1) of section 148 of the Companies Act 2013 to the company hence same is notapplicable to the Company.

(vii) (a) According to the information and explanation given to us and records asproduced and examined by us in our opinion the Company is regular in depositingundisputed applicable statutory dues including provident fund employees state insuranceincome-tax sales-tax wealth tax service tax duty of customs duty of excise valueadded tax cess and any other statutory dues applicable to it with the appropriateauthorities.

(b) According to the information and explanations given to us the details of statutorydues of income tax sales tax service tax or custom duty excise duty or value added taxwhich have not been deposited on account of appeal are given as under.

Name of the Statue Nature of Dues Amount (Rs.) Period to which it pertains Forum in which Dispute is Pending
The Central Sales Tax Act 1956 Sales Tax 51479934/- 2006-07 Dy. Commissioner of Sales Tax
The Central Sales Tax Act 1956 Sales Tax 17557419/- 2009-10 Dy. Commissioner of Sales Tax

(viii) According to the records of The Company examined by us and the information andexplanation provided to us the Company has not defaulted in repayment of loans oborrowing to a financial institution Bank Government or dues to debenture holders as atthe balance sheet date.

(ix) The Company has not raised any initial public offer or further public offer(including debt instruments) and according to the information and explanations given to usno term loans has been obtained hence the question of applying them for the purposes forwhich those were raised does not apply.

(x) According to information and explanations given to us there were no frauds on theCompany by its officers or employees noticed or reported by the management for the yearunder review.

(xi) The Company has paid or provided any managerial remuneration in accordance withthe requisite approvals mandated by the provisions of Section 197 read with Schedule V ofthe Companies Act.

(xii) According to the information and explanations given to us the Company is not aNidhi Company hence clause 3(xii) of the order is not applicable.

(xiii) According to the explanations and information given to us all the transactionsof the related parties at the Company for the year under review are in compliance withSection 177 and 188 of the Companies Act 2013 and the details of the same have beendisclosed in the financial statements as required by the applicable accounting standards.

(xiv)The Company has not made any preferential allotment or private placement of sharesor fully or partly paid convertible debentures during the year under review hence clause3(xiv) of the order is not applicable.

(xv) According to the information and explanation given to us the Company has notentered into any non cash transaction with directors or persons connected with him as perprovisions of Section 192 of the Companies Act 2013.

(xvi) The Company is not required to be registered under section 45-IA of the ReserveBank of India Act 1934 and hence clause 3(xvi) of the order is not applicable.

FOR KAILASH CHAND JAIN & CO.
CHARTERED ACCOUNTANTS
FRN: 112318W
Kiran Awasthi
Date : 30/05/2016 PARTNER
Place : Mumbai. Membership No. 100615