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Anand Rayons Ltd.

BSE: 542721 Sector: Others
NSE: N.A. ISIN Code: INE02GA01012
BSE 00:00 | 30 Oct 32.15 1.65
(5.41%)
OPEN

30.00

HIGH

32.25

LOW

30.00

NSE 05:30 | 01 Jan Anand Rayons Ltd
OPEN 30.00
PREVIOUS CLOSE 30.50
VOLUME 24000
52-Week high 40.90
52-Week low 24.20
P/E 71.44
Mkt Cap.(Rs cr) 48
Buy Price 30.00
Buy Qty 4000.00
Sell Price 32.50
Sell Qty 4000.00
OPEN 30.00
CLOSE 30.50
VOLUME 24000
52-Week high 40.90
52-Week low 24.20
P/E 71.44
Mkt Cap.(Rs cr) 48
Buy Price 30.00
Buy Qty 4000.00
Sell Price 32.50
Sell Qty 4000.00

Anand Rayons Ltd. (ANANDRAYONS) - Auditors Report

Company auditors report

To

The Members

ANAND RAYONS LIMITED

1 REPORT ON THE FINANCIAL STATEMENTS : -

We have audited the accompanying financial statements of M/s. ANAND RAYONS LIMITED('the Company') which comprise the Balance Sheet as at 31st March 2019 and the statementof Profit and Loss and Cash Flow Statement for the year then ended and a summary ofsignificant accounting policies and other explanatory information.

2 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 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 as ammended till date. This responsibility also includesmaintenance of adequate accounting records in accordance with the provisions of the Actfor safeguarding the assets of the Company and for preventing and detecting frauds andother irregularities; 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.

3 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 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 standalone financial statements.

4 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 : -

(a) In the case of the Balance Sheet of the state of affairs of the Company as at 31stMarch 2019;

(b) In the case of the Statement of Profit and Loss of the Profit for the year endedon that date; And

(c) In the case of the Cash Flow Statement of the cash flow for the year ended on thatdate.

EMPHASIS OF MATTERS : -

We draw attention to the following matters in the notes to the financial statements.

(a) Note No. 24 Regarding Erstwhile partnership firm "Anand Enterprise" isconverted into "Anand Rayons Limited" vide Registration certificate Dated :20/09/2018 Issued by ROC. Financials of Anand Enterprise are merged with the Financials ofthe Company and consolidated statement of accounts are made for the Financial Year2018-19.

Our opinion is not modified in respact of these matters.

REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS : -

1 As required by the Companies (Auditor's Report) Order 2017 ('the Order') issued bythe Central Government of India in terms of sub - section (11) of section 143 of the Actwe give in the annexure a statement on the matters specified in paragraph 3 and 4 of theOrder.

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) 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 stand alone financial statements comply with theAccounting Standards specified under section 133 of the Act read with Rule 7 of thecompanies (Accounts) Rules 2014 as ammended till date.

e) On the basis of written representations received from the directors as on 31stMarch 2019 and taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2019 from being appointed as a director in terms ofsection 164(2) of the Companies Act 2013.

f) With respact to the adequacy of the internal financial controls over financialreporting of the company and the operating effectiveness of such controls refer to PointNo. (iv) of our separate report in Annexure - "A".

g) With respact to the other matters to be included in the auditor's report inaccordance with Rule 11 of the Companies (Audit & Auditors) Rules 2014 in ouropinion and to the best of our information and according to the explanation 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 forwhich there were any material foreseeable losses.

iii) There were no amounts which were required to be transferred to the InvestorEducation and Protection Fund by the Company.

For RAJENDRA SHARMA & ASSO.
Chartered Accountants.
CA RAJENDRA R. SHARMA
Partner : Mem. No. 044393
Firm Regi. No. : 0108390W
SURAT : - 4th September 2019 PAN No. : AAHFR9231M

ANNEXURE - "A” TO INDEPENDENT AUDITOR'S REPORT CONTAINING REPORT ON MATTERSREQUIRED BY CARO 2016

Referred in paragraph 1 under the heading of "Report on Other Legal and RegulatoryRequirments" of our report of even date.

On the basis of such checks as considered appropriate and in terms of the informationand explanations given to us we state as under:

(i) (a) The company has maintained proper records showing full particulars

including quantitative details and situation of fixed assets.

(b) All the fixed assets have been physically verified by the management at reasonableintervals. No material discrepancies were noticed on such verification and the same havebeen properly dealt with in the books of account.

(c) Title Deeds of Immovable properties are held in the name of the company.

(ii) (a) Physical verification of inventory has been conducted at reasonable

intervals by the management and there is no material discrepancies were noticed

(iii) The company has not granted loans secured or unsecured to companies firmsLimited Liability Partnerships or other parties covered in the register maintained undersection 189 of the Companies Act 2013.

(iv) In respect of loans investments guarantees and security all mandatoryprovisions of section 185 and 186 of the Companies Act 2013 have been complied with.

(v) In our opinion and according to the information and explanation given to us thecompany has not accepted deposits from the public.

(vi) According to the 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 Companies Act 2013 to the industry to which the company belongs.

(vii) (a) The company is regular in depositing undisputed statutory dues including

Provident Fund Employee State Insurance Income-tax Sales-tax Service Tax WealthTax Duty of Customs Duty of Excise Value Added Tax GST Cess and any other statutorydues wherever applicable with the appropriate authorities.

(b) According to the information and explanation given to us no undisputed amountspayable in respect of Provident Fund Employee State Insurance Income-tax Sales-taxService Tax Wealth Tax Duty of Customs Duty of Excise Value Added Tax GST Cess andany other statutory dues were in arrears as at 31/03/2019 for a period of more than sixmonths from the date they became payable.

(c) According to the information and explanation given to us there are no dues ofProvident Fund Employee State Insurance Income-tax Sales-tax Service Tax Wealth TaxDuty of Customs Duty of Excise Value Added Tax GST Cess and any other statutory dueswhich have not been deposited on account of any dispute.

(viii) In our opinion and explanation given to us the company has not defaulted inrepayment of dues to a financial institution or bank. The company has not issued anydebenture.

(ix) The company doesn't raise any money by way of initial public offer or furtherpublic offer. (including debt instruments)

(x) According to the information and explanation given to us no fraud on or by thecompany has been noticed or reported during the course of our audit.

(xi) Managerial remuneration has been paid or provided in accordance with the requisiteapprovals Mandated by the provisions of section 197 read with Schedule V to the CompaniesAct.

(xii) Company is not a Nidhi Company hence nothing to be disclosed for any provisionsapplicable on Nidhi Company.

(xiii) All transactions with the related parties are in compliance with sections 177and 188 of Companies Act 2013 where applicable and the details have been disclosed in theFinancial Statements etc. as required by the applicable accounting standards;

(xiv) The company hasn't made any preferential allotment or private placement of sharesor fully or partly convertible debentures during the year.

(xv) The company hasn't entered into any non-cash transactions with directors orpersons connected with him.

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

For RAJENDRA SHARMA & ASSO.
Chartered Accountants.
CA RAJENDRA R. SHARMA
Partner : Mem. No. 044393
Firm Regi. No. : 0108390W
SURAT : - 4th September 2019 PAN No. : AAHFR9231M

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