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Stampede Capital Ltd.

BSE: 531723 Sector: Financials
NSE: STAMPEDE ISIN Code: INE224E01028
BSE LIVE 19:25 | 19 Oct 7.17 -0.37
(-4.91%)
OPEN

7.27

HIGH

7.54

LOW

7.17

NSE 19:45 | 19 Oct 7.05 -0.35
(-4.73%)
OPEN

7.70

HIGH

7.70

LOW

7.05

OPEN 7.27
PREVIOUS CLOSE 7.54
VOLUME 110230
52-Week high 31.20
52-Week low 5.07
P/E
Mkt Cap.(Rs cr) 164
Buy Price 0.00
Buy Qty 0.00
Sell Price 7.17
Sell Qty 33557.00
OPEN 7.27
CLOSE 7.54
VOLUME 110230
52-Week high 31.20
52-Week low 5.07
P/E
Mkt Cap.(Rs cr) 164
Buy Price 0.00
Buy Qty 0.00
Sell Price 7.17
Sell Qty 33557.00

Stampede Capital Ltd. (STAMPEDE) - Auditors Report

Company auditors report

INDEPENDENT AUDITOR’S REPORT

To the Members of

M/s STAMPEDE CAPITAL LIMITED

Report on the Financial Statements

We have audited the accompanying Standalone financial statements of M/s STAMPEDECAPITAL LIMITED ("the Company") which comprise the Balance Sheet as at March31 2016 the Statement of Profit and Loss Cash Flow Statement for the year then endedand a summary 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 stated in Section134(5) of the Companies Act 2013 ("the Act") with respect to the preparation ofthese financial statements that give a true and fair view of the financial positionfinancial performance and cash flows of the Company in accordance with the accountingprinciples generally accepted in India including the Accounting Standards specified underSection 133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014. Thisresponsibility also includes maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding the assets of the Company and for preventingand detecting frauds and other irregularities; selection and application of appropriateaccounting policies; making judgments and estimates that are reasonable and prudent; anddesign implementation and maintenance of adequate internal financial controls that wereoperating 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 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 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 of thefinancial. In making those risk assessments the auditor considers internal financialcontrol relevant to the Company's preparation of the financial statements that give a trueand fair view in order to design audit procedures that are appropriate in thecircumstances but not for the purpose of expressing an opinion on whether the Company hasin place an adequate internal financial controls system over financial reporting and theoperating effectiveness of such controls. An audit also includes evaluating theappropriateness of the accounting policies used and the reasonableness of the accountingestimates made by the Company's Directors as well as evaluating the overall presentationof 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 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 accounting principles generally accepted in India of the state of affairs ofthe Company as at March 312016 and its Profit and its Cash Flow for the year ended onthat date

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2016 ("the Order")as amended issued by the Central

Government of India in terms of sub-section (11) of section 143 of the Act we give inthe "Annexure A" a statement on the matters specified in paragraphs 3 and4 of the 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 purpose of our audit;

b. i n 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. i n 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 March312016 taken on record by the Board of Directors none of the directors is disqualifiedas on March 312016 from being appointed as a director in terms of Section 164 (2) of theAct.

f. With respect to the adequacy of the internal financial controls over financialreporting of the Company and the operating effectiveness of such controls refer to ourseparate Audit Report - "Annexure B".

g. 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.

For and on behalf of
Sarath & Associates
Chartered Accountants
Firm's Regn.No.005120S
CA S Srinivas
Partner
M. No. 202471
Place: Hyderabad
Date : 27.05.2016

"Annexure A" to the Independent Auditors’ Report

Referred to in paragraph 1 under the heading ‘Report on Other Legal &Regulatory Requirement' of our report of even date to the financial statements of theCompany for the year ended March 312016:

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

(b) The Fixed Assets have been physically verified by the management in a phasedmanner designed to cover all the items over a period of three years which in ouropinion is reasonable having regard to the size of the company and nature of itsbusiness. Pursuant to the program a portion of the fixed asset has been physicallyverified by the management during the year and no material discrepancies between the booksrecords and the physical fixed assets have been noticed.

ii) As per the information and explained given to us as the company's business doesnot involve maintenance of

inventories Viz. Finished Stores Spare Parts Goods in Process and Raw materials theprovisions of Clause 3(ii) of the Order are not applicable to the Company for the CurrentYear.

iii) According to the information and explanation given to us the company has duringthe year under review granted certain advances to an associate company and subsidiarycompany which are covered under the register maintained under section 189 of theCompanies Act 2013 the provisions of Clause 3(iii)(a) to Clause 3(iii)(c) of the Orderare applicable to the Company for the Current Year.

(a) As per the information and explanations given to us these amounts advanced arepurely temporary in nature with no specific terms and conditions attached and accordinglyare not prejudicial to the interests of the Company;

(b) As stated above these advances are purely temporary in nature and does not carryany specific repayment schedule and hence not commented upon; and

(c) As the above advances are purely temporary in nature and also does not carry anyspecific repayment schedule there are no overdues to be reported upon.

iv) In our opinion and according to the information and explanations given to us thecompany has complied with the provisions of section 185 and 186 of the Companies Act 2013in respect of loans investments guarantees and security.

v) The Company has not accepted any deposits from the public and hence the directivesissued by the Reserve Bank of India and the provisions of Sections 73 to 76 or any otherrelevant provisions of the Act and the Companies (Acceptance of Deposit) Amendment Rules2015 with regard to the deposits accepted from the public are not applicable for thecompany for the current year.

vi) According to information and explanation given to us the maintenance of CostRecords has not been prescribed by the Central Government under sub-section (1) of Section148 of the Act in respect of the activities carried on by the company.

vii) (a) According to information and explanations given to us and on the basis of ourexamination of the books of account and records of the Company amounts deducted/ accruedin the books of account in respect of undisputed statutory dues including provident fundTax deducted at source sales tax wealth tax service tax duty of customs value addedtax Cess have been paid with the appropriate authorities except for Income Tax Payableduring the year. According to the information and explanations given to us no undisputedamounts payable in respect of the above were in arrears as at March 312016 for a periodof more than six months from the date on which they become payable except Income Taxpayments amounting to Rs.2259071.

b) According to the information and explanation given to us there are no dues of salestax service tax duty of customs duty of excise value added tax outstanding on accountof any dispute.

viii) In our opinion and according to the information and explanations given to us theCompany did not avail any loan either from banks/financial institutions or issued anydebentures during the current year.

ix) Based upon the audit procedures performed and the information and explanationsgiven by the management the company has not raised moneys by way of initial public offeror further public offer including debt instruments and term Loans. Accordingly theprovisions of Clause 3(ix) of the Order are not applicable to the Company for the CurrentYear

x) Based upon the audit procedures performed and the information and explanations givenby the management we report that no fraud by the Company or on the company by itsofficers or employees has been noticed or reported during the year.

xi) Based upon the audit procedures performed and the information and explanationsgiven by the management managerial remuneration has been paid during the current yearwhich is in accordance with requisite approvals mandated by the applicable provisions ofCompanies Act 2013.

xii) In our opinion the Company is not a Nidhi Company. Therefore the provisions ofclause 3 (xii) of the Order are not applicable to the Company.

xiii) In our opinion all transactions with the related parties are in compliance withsection 177 and 188 of Companies Act 2013 and the details have been disclosed in theFinancial Statements as required by the applicable accounting standards.

xiv) Based upon the audit procedures performed and the information and explanationsgiven by the management the company has not made any preferential allotment or privateplacement of shares or fully or partly convertible debentures during the year underreview.

xv) Based upon the audit procedures performed and the information and explanationsgiven by the management the company has not entered into any non-cash transactions withdirectors or persons connected with them. Accordingly the provisions of clause 3 (xv) ofthe Order are not applicable to the Company and hence not commented upon.

xvi) In our opinion the company is not required to be registered under section 45 IAof the Reserve Bank of India Act 1934.

For and on behalf of
Sarath & Associates
Chartered Accountants
Firm's Regn.No.005120S
CA S Srinivas
Partner
M. No.202471
Place: Hyderabad
Date : 27.05.2016

"Annexure B" to the Independent Auditor’s Report of even date on theFinancial Statements of M/S STAMPEDE CAPITAL LIMITED

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 M/sSTAMPEDE CAPITAL LIMITED ("the Company") as of March 312016 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 the preventionand detection of frauds and errors the accuracy and completeness of the accountingrecords and the timely preparation of reliable financial information as required underthe 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 controls systemover 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 ofrecords that in reasonable detail accurately and fairly reflect the transactions anddispositions of the assets of the company; (2) provide reasonable assurance thattransactions are recorded as necessary to permit preparation of financial statements inaccordance with generally accepted accounting

principles and that receipts and expenditures of the company are being made only inaccordance with authorizations of management and directors of the company; and (3) providereasonable assurance regarding prevention or timely detection of unauthorized acquisitionuse or disposition of the company's assets that could have a material effect on thefinancial 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 312016 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 Sarath & Associates
Chartered Accountants
Firm's Regn.No.005120S
CA S Srinivas
Partner
M. No.202471
Place: Hyderabad
Date : 27.05.2016