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Sri Vajra Granites Ltd.

BSE: 515081 Sector: Others
NSE: N.A. ISIN Code: INE047H01018
BSE LIVE 13:06 | 15 Jun Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 4.25
PREVIOUS CLOSE 4.09
VOLUME 100
52-Week high 5.52
52-Week low 4.09
P/E
Mkt Cap.(Rs cr) 3
Buy Price 0.00
Buy Qty 0.00
Sell Price 4.25
Sell Qty 200.00
OPEN 4.25
CLOSE 4.09
VOLUME 100
52-Week high 5.52
52-Week low 4.09
P/E
Mkt Cap.(Rs cr) 3
Buy Price 0.00
Buy Qty 0.00
Sell Price 4.25
Sell Qty 200.00

Sri Vajra Granites Ltd. (SRIVAJRA) - Auditors Report

Company auditors report

To the Members of Sri Vajra Granites Limited

Report on the Financial Statements

We have audited the accompanying financial statements of SRI VAJRA GRANITES LIMITED(“the company”) which comprise the Balance Sheet as at 31 March 2015 theStatement of Profit and Loss the Cash Flow Statement for the year then ended and asummary of significant accounting policies and other explanatory information.

Management's Responsibility forthe 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 thesefinancial statements that give a true and fair view of the financial position financialperformance and cash flows of the Company in accordance with the accounting principlesgenerally accepted in India including the Accounting Standards specified under Section133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014. Thisresponsibility also includes the maintenance of adequate accounting records in accordancewith the provision of the Act for safeguarding of the assets of the Company and forpreventing and detecting the frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of internal financial control thatwere operating effectively for ensuring the accuracy and completeness of the accountingrecords relevant to the preparation and presentation of the financial statements thatgive a true and fair view and are free from material misstatement whether due to fraud orerror.

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 of the state of affairs of the Company as at March312015 and its loss and cash flows forthe year ended on that date.

Report on other Legal and Regulatory Requirements.

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 forthe 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) 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 written representations received from the directors as on 31 March2015 taken on record by the Board of Directors none of the directors is disqualified ason 31 March 2015 from being appointed as a director in terms of Section 164(2) of theAct.

f) With respect to the other matters to be included in the Auditor's Report inaccordance with Rule11 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 contracts including derivative contracts; assuch the question of commenting on any material foreseeable losses thereon does not arise

(iii) There has not been an occasion in case of the Company during the year underreport to transfer any sums to the Investor Education and Protection Fund. The question ofdelay in transferring such sums does not arise

For 1SUDHAKER & CO.
Chartered Accountants
Firm Reg. No. 006271S
Sd /-
Place: Hyderabad (I SUDHAKER)
Date: May 30 2015 PROPRIETOR
Membership No. 023904

ANNEXURE TO INDEPENDENT AUDITOR'S REPORT Re: SRI VAJRA GRANITES LIMITED

Referred to in our Audit Report of even date

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

(b) As explained to us fixed assets have been physically verified by the management atregular intervals; as informed to us no material discrepancies were noticed on suchverification;

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

(b) In our opinion the procedures of physical verification of inventories followed bythe management are reasonable and adequate in relation to the size of the company andnature of its business

(c) The company is maintaining proper records of inventory. The discrepancies noticedon Verification of physical stocks and the book records were not material and have beenproperly dealt with in the books of account.

(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.Therefore sub-clauses

(a) & (b) of clause iii) are not applicable.

(iv) In our opinion and according to the information and explanations given to usthere is adequate internal control system commensurate with the size of the Company andthe nature of its business for the purchase of inventory and fixed assets and for thesale of goods and services. Further on the basis of our examination of the books andrecords of the Company and according to the information and explanations given to us nomajor weakness has not been noticed or reported.

(v) The Company has not accepted any deposits from the public covered under Section 73to 76 of the Companies Act 2013 and the Companies (Acceptance of Deposits) Rules2014.

(vi) We have broadly reviewed the cost records maintained by the company pursuanttoSub- section (1) of section 148 of the Companies Act 2013 and are of the opinion Primafacie the prescribed records have been maintained. We have however not made a detailedexamination of records with a view to determine whether they are accurate or complete.

(Vii)(a) According to the information and explanations given to us and based on therecords of the company examined by us the company is regular in depositing the undisputedstatutory dues including Provident Fund Income-tax Wealth Tax Service Tax CustomDuty Excise Duty and other material statutory dues as applicable with the appropriatetax authorities except Provident Fund and Service Tax which have not been paid regularly.

(b) According to the information and explanations given to us and based on the recordsof the company examined by us there are no undisputed amounts payable in respect ofIncome Tax Wealth Tax Service Tax Sales Tax Customs Duty and Excise Duty and cess werein arrears as at 31.03.2015 for a period of six months from the date they became payable.However Service Tax in arrears for more than six months as on 31.03.2015 is Rs.525521.

(c) According to the information and explanations given to us there is no amountrequired to be transferred during the year to the Investor Education and Protection Fund.

(viii) The accumulated losses of the company as at 31.03.2015 is more than 50% of itsnet Worth and the company has incurred cash loss during the financial year covered by ouraudit and immediately preceding financial year.

(ix) In our opinion and according to information and explanations given to us theCompany has not defaulted in repayment of dues to financial institutions or banksduringthe year.

(x) In our opinion and according to the information and explanations given to us theCompany has not given any guarantee for loan taken by others from a bank or financialinstitution during the year.

(xi) In our opinion the term loans taken by the company have been applied for thepurpose for which they were obtained.

(xii) According to the information and explanations given to us no fraud on or by theCompany hasbeen noticed or reported during the course ofourauditfortheyear.

For 1SUDHAKER & CO.
Chartered Accou ntants
Firm Reg. No. 006271S
Sd /-
Place: Hyderabad (1 SUDHAKER)
Date: May 30 2015 PROPRIETOR
Membership No. 023904