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Suryo Foods & Industries Ltd.

BSE: 519604 Sector: Others
NSE: N.A. ISIN Code: INE565E01016
BSE LIVE 12:48 | 03 Aug Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 8.60
52-Week high 11.55
52-Week low 8.30
Mkt Cap.(Rs cr) 3
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 8.60
CLOSE 8.63
52-Week high 11.55
52-Week low 8.30
Mkt Cap.(Rs cr) 3
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Suryo Foods & Industries Ltd. (SURYOFOODS) - Auditors Report

Company auditors report

To the Members of Suryo Foods & Industries Limited Report on the StandaloneFinancial Statements

We have audited the accompanying standalone financial statements of Suryo Foods &Industries Limited ('the Company') which comprise the balance sheet as at 31 March 2016the statement of profit and loss and the cash flow statement for the year ended on thatdate and a summary of significant accounting policies and other explanatory information.

Management's Responsibility for the Standalone 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 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 accountingand auditing standards and matters which are required to be included in the audit reportunder the provisions 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 but not for the purpose of expressing anopinion on whether the Company has in place an adequate internal financial controls systemover financial reporting and the operating effectiveness of such controls. An audit alsoincludes evaluating the appropriateness of the accounting policies used and thereasonableness of the accounting estimates made by the Company's Directors as well asevaluating 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.


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 31st March 2016 and its profit and its cash flows for the year ended onthat date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2015 ("the Order")issued by the Central Government of India in terms of sub-section (11) of section 143 ofthe Companies Act 2013 we give in the Annexure a statement on the matters specified inthe paragraph 3 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 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 31March 2016 taken on record by the Board of Directors none of the directors isdisqualified as on 31 March 2016 from being appointed as a director in terms of Section164 (2) of the Act; and

(f) 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 has disclosed the impact of no pending litigations on its financialposition in its financial statements ii. The Company did not have any long term contractsincluding derivative contracts forwhich there were any material foreseeable losses ill.There has been no delay in transferring amounts required to be transferred to theInvestor

Education and Protection Fund by the Company.

For SRB & Associates
Chartered Accountants
Firm Regn No: 310009E
A.K. Patra
Bhubaneswar Partner
20th May 2016 M.N-088484

Annexure to the Independent Auditors' Report

The Annexure A of our Independent Auditors' Report of even date on the standalonefinancial statements as at end for the year ended 31 March 2016 of M/s Suryo Foods andIndustries Limited.

1 (a) Whether the Company is maintaining proper records showing full particularsincluding quantitative details and situation of fixed assets.

(b) Whether these fixed assets have been physically verified by the Management atreasonable intervals no material discrepancies were noticed on such verification*

(c) Whether the title deeds of immovable properties are held in the name of thecompany. If not provide the details thereof;

2* Whether physical verification of inventory has been conducted at reasonableintervals by the management and no material discrepancies were noticed and if so whetherthey have been properly dealt with in the books of account*

3 Whether the company has not granted any loans secured or unsecured to companiesfirms Limited Liability Partnerships or other parties covered in the register maintainedunder section 189 of the Companies Act 2013 and hence clause (a) (b) & (c) are notapplicable*

4 In respect of loan investment guarantees and security the provisions of section185 and 186 of the Companies Act 2013 have been complied with*

5 In case the company has not accepted any deposits.

6 Whether maintenance of cost records has not been specified by the Central Governmentunder sub-section (1) of section 148 of the companies Act 2013*

7 a) Whether the company is regular in depositing undisputed statutory dues includingprovident fund employees state Insurance income tax sales tax service tax duty ofcustom duty of excise value added tax cess and any other statutory dues to theappropriate authorities and if not the extent of the arrears of outstanding statutorydues as on the last day of the financial year concerned for a period of more than sixmonths from the date they became payable shall be indicated.

(b) Where dues of income tax or sales tax or service tax or duty of customs or duty ofexcise or value added tax have not been deposited on account of any dispute then theamounts involved and the forum where dispute is pending shall be mentioned*(A mererepresentation to the concerned Department shall not be treated as a dispute)

8. Whether the company has not defaulted in repayment of loans or borrowing to afinancial institution bank government or dues to debenture holders?

9. No money raised by way of initial public offer or further public offer (includingdebt instruments) and term loans were applied for the purposes for which those are raised.

10. No fraud by the company or any fraud on the company by its officers or employeeshas been noticed or reported during the year.

11. No managerial remuneration has been paid or provided in accordance with therequisite approval mandated by the provisions of section 197 read with Schedule V to thecompanies Act?

12* This clause is not applicable*

13. All transactions with the related parties are in compliance with section 177 and188 of the Companies Act 2013 where applicable and the details have been disclosed in theFinancial Statements etc* as required by the applicable accounting standards.

14* The company has not made any preferential allotment or private placement of sharesor fully or partly convertible debentures during the year under review and if so as towhether the requirement of section 42 of the Companies Act 2013*

15. The company has not entered into any non-cash transactions with him and if sowhether the provisions of section 192 of companies Act 2013 have been complied with

16. The company is not required to be registered under section 45-1A of the ReserveBank of India Act 1934 and if so whether the registration has been obtained.

For SRB & Associates
Chartered Accountants
Firm Regd. No.-310009E
Bhubaneswar A.K. Patra
20lh May 2016 Partner