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Super Sales India Ltd.

BSE: 512527 Sector: Industrials
NSE: SUPER ISIN Code: INE091C01017
BSE LIVE 15:40 | 15 Dec 712.30 9.90
(1.41%)
OPEN

737.00

HIGH

739.95

LOW

705.00

NSE 00:00 | 12 Jun Stock Is Not Traded.
OPEN 737.00
PREVIOUS CLOSE 702.40
VOLUME 3175
52-Week high 758.95
52-Week low 504.00
P/E 14.14
Mkt Cap.(Rs cr) 219
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 737.00
CLOSE 702.40
VOLUME 3175
52-Week high 758.95
52-Week low 504.00
P/E 14.14
Mkt Cap.(Rs cr) 219
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Super Sales India Ltd. (SUPER) - Auditors Report

Company auditors report

To

The Members of Super Sales India Limited

Report on the Financial Statements

We have audited the accompanying financial statements of Super Sales India Limited('the Company') which comprise the balance sheet as at 31 March 2017 the statement ofprofit and loss and the cash flow statement for the year then ended and a summary ofsignificant 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 preparationand presentation of these financial statements that give a true and fair view of thefinancial position financial performance and cash flows of the Company in accordance withthe accounting principles generally accepted in India including the Accounting Standardsspecified under Section 133 of the Act read with Rule 7 of the Companies (Accounts)Rules 2014. This responsibility also includes maintenance of adequate accounting recordsin accordance with the provisions of the Act for safeguarding the assets of the Companyand for preventing and detecting frauds and other irregularities; selection andapplication of appropriate accounting policies; making judgments and estimates that arereasonable and prudent; and design implementation and maintenance of adequate internalfinancial controls and ensuring their operating effectiveness for the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe financial statements that give a true and fair view and are free from materialmisstatement 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 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 statements whether due to fraud or error. In making those risk assessments theauditor considers internal financial control relevant to the Company's preparation of thefinancial statements that give a true and fair view in order to design audit proceduresthat are appropriate in the circumstances. 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 accountingprinciples generally accepted in India:

a) in the case of the Balance Sheet of the state of affairs of the Company as at March31 2017; b) in the case of Statement of Profit and Loss the Profit for the year endedon that date; and c) in the case of the Cash Flow Statement of the cash flows for theyear ended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2016 ("the Order")issued by the Central Government of India in terms of sub-section (11) of Section 143 ofthe Act we give in the Annexure A a statement on the matters specified in the paragraph3 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 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 the written representations received from the directors as on 31March 2017 taken on record by the Board of Directors none of the directors isdisqualified as on 31 March 2017 from being appointed as a director in terms of Section164 (2) of the Act;

(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 report in "Annexure B"; and

(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:

a) The Company does not have any pending litigations which would impact its financialposition.

b) The Company did not have any long-term contracts including derivatives contracts forwhich there were any material foreseeable losses.

c) There has been no delay in transferring amounts required to be transferred to theInvestor Education and Protection Fund by the Company.

d) the Company has provided requisite disclosures in its financial statements as toholdings as well as dealings in Specified Bank Notes during the period from 8 November2016 to 30 December 2016 and these are in accordance with the books of accountsmaintained by the Company;

For S.Krishnamoorthy & Co. For Subbachar & Srinivasan
Chartered Accountants Chartered Accountants
Registration No.001496S Registration No.004083S
K.N.Sreedharan (Sd.) T.S.V. Rajagopal
Partner Auditor Partner Auditor
Membership No.012026 Membership No: 200380
Place: Coimbatore
Date: 23.05.2017

ANNEXURE TO THE AUDITORS' REPORT

The Annexure A referred to in paragraph 1 of Report on Other Legal and RegulatoryRequirements

In terms of the information and explanations sought by us and given by the Company andthe books examined by us during the course of our Audit and to the best of our knowledgeand belief we report the following:

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

(b) As per the information and explanations given to us the fixed assets of theCompany have been physically verified by the management during the year at reasonableintervals having regard to size of the company and nature of its assets. No materialdiscrepancies were noticed on such verification.

(c) The title deeds of all the immovable properties of the Company shown under theFixed Assets schedule are held in the name of the Company.

(ii) The stocks of finished goods stores spares and raw materials of the Company havebeen physically verified by the management during the year at reasonable intervals. In ouropinion the frequency of such verification is reasonable and no material discrepancieswere noticed.

(iii) The Company has not granted any loans secured or unsecured to companies firms orother parties covered in the register maintained under Section 189 of the Companies Act2013.

(iv) The Company has not granted any loan to directors or to any other person in whomthe director is interested or given any guarantee or provided any security in connectionwith any loan taken by the director or such other person. The Company has also not givenany loan and in respect of investment made the same is in accordance with the Section 186of the Act.

(v) The Company has not accepted any deposits to which the provisions of Sections 73 to76 or any other relevant provisions of the Act and the rules framed there under and thedirections issued by the RBI are applicable.

(vi) We have broadly reviewed the books of accounts maintained by the Company pursuantto the Rules made by the central government for the maintenance of cost records u/s. 148of the Act and are of the opinion that prima facie the prescribed accounts and recordshave been made and maintained. We have however not made a detailed examination of thecost records with a view to determine whether they are accurate or not.

(vii) (a) The Company is regular in depositing undisputed statutory dues includingProvident Fund Employees' State Insurance Income tax Sales tax Wealth tax CustomsDuty Excise Duty Cess and any other statutory dues with the appropriate authorities.

(b) According to the information and explanations given to us there are no dues ofSales tax Wealth tax Customs Duty Excise Duty Cess save and except the disputedservice tax as detailed below:

Name of statute Nature of the dues As on 31.03.2017 (Rs in Lakhs) Period to which the amt. relates Forum where the dispute is pending Remarks
Service Tax Service Tax on Erection Charges 12.66 Prior to 01.07.2003 CESTAT Chennai -

(viii) Based on our audit procedure we are of the opinion that the Company has notdefaulted in the repayment of dues to its bank financial institution Government orDebenture holders.

(ix) The Company has not availed any term loan or raised money by initial public offeror further public offer (including debt instruments) during the year.

(x) Based upon the audit procedures performed and information and explanation given bythe management no material frauds by the Company or on the Company by its officers oremployees has been noticed or reported during the course of our audit.

(xi) According to the information and explanations given to us and based on ourexamination of records of the Company the Company has paid/provided for managerialremuneration in accordance with the requisite approval mandated by the provisions ofSection 197 read with Schedule V of the Act.

(xii) In our opinion and according to the information and explanations given to us theCompany is not a nidhi company.

(xiii) In our opinion and based on our examination of records of the companytransactions with the related parties are in compliance with Section 177 and Section 188of the Act. Details of such transactions have been disclosed in the financial statementsas required by the applicable accounting standards.

(xiv) According to the information and explanations given to us and based on ourexamination of records of the Company the Company has not made any preferential allotmentor private placement of shares or fully or partly convertible debentures during the year.

(xv) According to the information and explanations given to us and based on ourexamination of the records of the Company the Company has not entered into non cashtransactions with directors or persons connected with them.

(xvi) The Company is not required to be registered under Section 45-IA of the ReserveBank of India Act 1934.

For S.Krishnamoorthy & Co. For Subbachar & Srinivasan
Chartered Accountants Chartered Accountants
Registration No.001496S Registration No.004083S
K.N.Sreedharan (Sd.) T.S.V. Rajagopal
Partner Auditor Partner Auditor
Membership No.012026 Membership No: 200380
Place: Coimbatore
Date: 23.05.2017

Annexure - B to the Auditors' Report

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 Super SalesIndia Limited ("the Company") as of 31 March 2017 in conjunction with our auditof 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 ('ICAI'). These responsibilitiesinclude the design implementation and maintenance of adequate internal financial controlsthat were operating effectively for ensuring the orderly and efficient conduct of itsbusiness including 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 judgment 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 andexpenditures of the company are being made only in accordance with authorizations ofmanagement and directors of the company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorized acquisition use or disposition of thecompany's assets that could have a material 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 31 March 2017 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 S.Krishnamoorthy & Co. For Subbachar & Srinivasan
Chartered Accountants Chartered Accountants
Registration No.001496S Registration No.004083S
K.N.Sreedharan (Sd.) T.S.V. Rajagopal
Partner Auditor Partner Auditor
Membership No.012026 Membership No: 200380
Place: Coimbatore
Date: 23.05.2017