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Shri Krishna Devcon Ltd.

BSE: 531080 Sector: Infrastructure
NSE: N.A. ISIN Code: INE997I01012
BSE LIVE 13:36 | 20 Sep 17.07 0.81
(4.98%)
OPEN

17.07

HIGH

17.07

LOW

17.07

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 17.07
PREVIOUS CLOSE 16.26
VOLUME 350
52-Week high 17.07
52-Week low 11.72
P/E 12.55
Mkt Cap.(Rs cr) 48
Buy Price 17.07
Buy Qty 16854.00
Sell Price 0.00
Sell Qty 0.00
OPEN 17.07
CLOSE 16.26
VOLUME 350
52-Week high 17.07
52-Week low 11.72
P/E 12.55
Mkt Cap.(Rs cr) 48
Buy Price 17.07
Buy Qty 16854.00
Sell Price 0.00
Sell Qty 0.00

Shri Krishna Devcon Ltd. (SHRIKRISHNA) - Auditors Report

Company auditors report

To

The Members

Shri Krishna Devcon Limited

Mumbai

Report on the Financial Statements

We have audited the acCompanying standalone financial statements of Shri Krishna DevconLimited (''the Company'') which comprise the Balance Sheet as at 31 March 2015 theStatement of Profit and Loss and Cash flow statement for the year then ended and a summaryof 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 insub-section 5 of Section 134 of the Companies Act 2013 ("the Act") with respectto the preparation 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 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 undersubsection 10 of Section 143 of the Act. Those Standards require that we comply withethical requirements and plan and perform the audit to obtain reasonable assurance aboutwhether the 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 theauditors’ 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 March 31 2015 and its profit and its cash flows for the year ended on

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 exercise of powers conferred bysub-section 11 of section 143 of the Act we enclose in the Annexure a statement on thematters specified in paragraphs 3 and 4 of the Order.

2. As required by sub-section 3 of Section 143 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 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 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 March31 2015 taken on record by the Board of Directors none of the Directors are disqualifiedas on March 31 2015 from being appointed as a Director in terms of sub-section 2 ofSection 164 of the Act.

f) With respect to the other matters to be included in the Auditors’ 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 litigation which would impact its financialposition.

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

iii. The Company did not have amount required to be transferred to the InvestorEducation and Protection Fund.

For Khandelwal & Khandelwal Associates
Chartered Accountants
Firm Registration No. 008389C
CA. Durgesh Khandelwal
Place: Indore Partner
Date : 30.05.2015 M. No. 077390

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

b) The fixed assets were physically verified during the year by the Management inaccordance with a regular programme of verification which in our opinion provides forphysical verification of all the fixed assets at reasonable intervals. According to theinformation and explanation given to us no material discrepancies were noticed on suchverification.

ii. a) The inventory includes land plot of land completed buildings land underdevelopment building under development etc. The management has conducted physicalverification of inventory at reasonable intervals during the year.

b) The procedures of physical verification of inventory followed by the management arereasonable and adequate in relation to the size of the Company and the nature of itsbusiness.

c) The Company is maintaining proper records of inventory and no material discrepancieswere noticed on physical verification.

iii. The Company has not granted any loans secured or unsecured to companies firmsor other parties covered in the register maintained under Section 189 of the Act.

iv. In our opinion and according to the information and explanations given to us thereis an adequate internal control system commensurate with the size of the Company and thenature of its business for the purchase of inventory and fixed assets and for the sale ofgoods and services. Further on the basis of our examination of the books and records ofthe Company and according to the information and explanations given to us we haveneither come across nor have been informed of any continuing failure to correct majorweaknesses in the aforesaid internal control system.

v. The Company has not accepted any deposits from the public in accordance with theprovisions of sections 73 to 76 of the Act and the rules framed there under.

vi. We have broadly reviewed the cost records maintained by the Company pursuant to therules prescribed by the Central Government for maintenance of cost records undersubsection 1 of Section 148 of the Act and are of the opinion that prima facie theprescribed cost records have been maintained. However we have not made a detailedexamination of the cost records with a view to determine whether they are accurate orcomplete.

vii. a) According to the information and explanations given to us the Company isgenerally regular in depositing undisputed statutory dues including dues pertaining toIncome Tax Cess and any other statutory dues with the appropriate authorities.

b) According to the information and explanations given to us no undisputed amountpayable in respect of provident fund. income tax wealth Tax cess and other undisputedstatutory dues were outstanding at the end of the year for a period of more than sixmonths from the date they become payable.

c) According to the information and explanations given to us there are no dues ofIncome Tax Sales Tax Wealth Tax Service Tax Customs Duty Excise Duty or Cessoutstanding on account of any dispute.

d) According to the information and explanations given to us and on the basis of ourexamination of the records of the Company there was no amount required to be transferredto Investor Education and Protection Fund in accordance with the relevant provisions ofthe Companies Act 1956 (1 of 1956) and rules made there under.

viii. The Company has no accumulated losses as at 31st March 2015 and it has notincurred cash losses in the financial year ended on that date or in the immediatelypreceding financial year.

ix. The Company has not defaulted in repayment of dues to any Financial Institution orBank. The Company has no debenture holders.

x. According to the information and explanations given to us the Company has not givenguarantee for loans taken by others from banks or financial institutions.

xi. Based on information and explanations given to us by the management term loanswere applied for the purpose for which the loans were obtained. xii. Based upon the auditprocedures performed and the information and explanations given to us no fraud on or bythe Company has been noticed or reported during the year.

For Khandelwal & Khandelwal Associates
Chartered Accountants
Firm Registration No. 008389C
CA. Durgesh Khandelwal
Place: Indore Partner
Date : 30.05.2015 M. No. 077390