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Chandra Prabhu International Ltd.

BSE: 530309 Sector: Others
NSE: N.A. ISIN Code: INE368D01017
BSE 10:48 | 20 Nov 19.80 0.90
(4.76%)
OPEN

19.80

HIGH

19.80

LOW

19.80

NSE 05:30 | 01 Jan Chandra Prabhu International Ltd
OPEN 19.80
PREVIOUS CLOSE 18.90
VOLUME 540
52-Week high 26.50
52-Week low 14.70
P/E 12.94
Mkt Cap.(Rs cr) 7
Buy Price 18.30
Buy Qty 125.00
Sell Price 19.70
Sell Qty 100.00
OPEN 19.80
CLOSE 18.90
VOLUME 540
52-Week high 26.50
52-Week low 14.70
P/E 12.94
Mkt Cap.(Rs cr) 7
Buy Price 18.30
Buy Qty 125.00
Sell Price 19.70
Sell Qty 100.00

Chandra Prabhu International Ltd. (CHANDRAPRINTL) - Auditors Report

Company auditors report

To The Members of

M/s Chandra Prabhu International Ltd

Report on the Standalone Ind AS Financial Statements

We have audited the accompanying standalone Ind AS financial statements of M/s ChandraPrabhu International Ltd (“the Company”) which comprise the Balance Sheet as atMarch 312018 the Statement of Profit and Loss (including Other Comprehensive Income)the Cash Flow Statement and the Statement of Changes in Equity for the year then endedand 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 preparation ofthese standalone Ind AS financial statements that give a true and fair view of thefinancial position financial performance (including Other Comprehensive Income) cashflows and changes in equity of the Company in accordance with the accounting principlesgenerally accepted in India including the Indian Accounting Standards (Ind AS) specifiedunder Section 133 of the Companies Act 2013 read with Rule 7 of the Companies (Accounts)Rules 2014.

This responsibility also includes the maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding of the assets of the Companyand for preventing and detecting the 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 control that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe standalone Ind AS financial statements that give a true and fair view and are freefrom material misstatement whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these standalone Ind AS financialstatements based 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 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 standalone Ind AS financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the standalone Ind AS financial statements. The procedures selected dependon the auditor's judgment including the assessment of the risks of material misstatementof the standalone Ind AS financial statements whether due to fraud or error. In makingthose risk assessments the auditor considers internal financial control relevant to theCompany's preparation of the standalone Ind AS financial statements that give true andfair view in order to design audit procedures that are appropriate in the circumstances.An audit also includes evaluating the appropriateness of accounting policies used and thereasonableness of the accounting estimates made by Company's Directors as well asevaluating the overall presentation of the standalone Ind AS 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 Ind AS financial statements.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone Ind AS financial statements give the informationrequired by the Act in the manner so required and give a true and fair view in conformitywith the accounting principles generally accepted in India of the State of affairs of theCompany as on March 31 2018 and its profit (Including Other Comprehensive Income) itsCash Flows and the changes in equity for the year ended on that date.

Report on other Legal and Regulatory Requirements

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 Companies Act 2013 we give in the annexure a statement on the matters specified inparagraph 3 and 4 of the Order to the extent applicable.

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 (including Other ComprehensiveIncome) the Cash Flow Statement and the Statement of Changes in Equity dealt with by thisReport are in agreement with the books of account;

d) In our opinion the aforesaid standalone Ind AS financial statements comply with theIndian Accounting Standards specified under Section 133 of the Act read with theCompanies (Indian Accounting Standard) (Amendment) Rules 2016.

e) On the basis of the written representations received from the directors as on March31 2018 taken on record by the Board of Directors none of the directors is disqualifiedas on March 31 2018 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 Report in “Annexure A”. Our report expresses an unmodified opinion onthe adequacy and operating effectiveness of the Company's internal financial controls overfinancial reporting.

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 as amended bythe Companies (Audit and Auditors) Rules 2017 in our opinion and to the best of ourinformation and according to the explanations given to us:

i. The Company does not have any pending litigations on its financial position in itsstandalone Ind AS financial statements.

ii. The Company did not have any long term contracts including derivative contracts forwhich there were any material foreseeable losses;

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

For Mittal Garg Gupta & Co

Chartered Accountants

FRN 016591N

C A Sanjay Gupta

Partner

M. No. 093321

Place : New Delhi

Dated : 29'h May 2018

Annexure “A” to the Independent Auditors' Report

Report on the Internal Financial Controls Over Financial Reporting under Clause (i) ofSubsection 3 of Section 143 of the Companies Act 2013 ('the Act')

We have audited the internal financial controls over financial reporting of ChandraPrabhu International Ltd. ('the Company') as of March 31 2018 in conjunction with ouraudit of the standalone Ind AS financial statements of the Company for the year ended andas 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 Act.

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 Standards on Auditing prescribed under Section 143(10) of the Act and theGuidance Note to the extent applicable to an audit of internal financial controls. ThoseStandards and the Guidance Note require that we comply with the ethical requirements andplan and perform the audit to obtain reasonable assurance about whether adequate internalfinancial controls over financial reporting was established and maintained and if suchcontrols 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 operation effectiveness of internal control based on the assessed risk. The proceduresselected depend on the auditors' judgment including the assessment of the risks ofmaterial misstatement of the standalone Ind AS financial statements whether due to fraudor 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 standalone Ind AS financial statements for external purposes in accordancewith generally accepted accounting principles. A company's internal financial control overfinancial reporting includes those policies and procedures that

1. Pertain to the maintenance of records that in reasonable detail accurately andfairly reflect the transactions and dispositions of the assets of the company;

2. Provide reasonable assurance that transactions are recorded as necessary to permitpreparation of standalone Ind AS financial statements in accordance with generallyaccepted accounting principles and that receipts and expenditures of the company arebeing made only in accordance with authorizations of management and directors of thecompany; and

3. Provide reasonable assurance regarding prevention or timely detection ofunauthorized acquisition use or disposition of the company's assets that could have amaterial effect on the standalone Ind AS 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 misstatements due to error of fraud may occur and not be detected. Alsoprojections of any evaluation of the internal financial controls over financial reportingto future periods are subject to the risk that the internal financial controls overfinancial reporting may become inadequate because of changes in conditions or that thedegree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion to the best of our information and according to the explanations givento us the Company has in all material respects an adequate internal financial controlssystem over financial reporting and such internal financial controls over financialreporting were operating effectively as at March 31 2018 based on the internal controlover financial reporting criteria established by the Company considering the essentialcomponents of internal control stated in the Guidance Note on Audit of Internal FinancialControls Over financial reporting issued by the Institute of Chartered Accountants ofIndia.

For Mittal Garg Gupta & Co
Chartered Accountants
FRN 016591N
C A Sanjay Gupta
Place : New Delhi Partner
Dated : 29* May 2018 M. No. 093321

Annexure “B” to the Independent Auditors' Report

Report on Companies (Auditor's Report) order 2016 ('the Order') issued by the CentralGovernment in terms of Section 143(11) of the Companies Act 2013 ('the Act') of ChandraPrabhu International Ltd. ('the Company')

1 In respect of the Company's fixed assets:

(a) The company has maintained proper records showing full particulars of fixed assetsincluding quantitative details and situation of Property Plant and Equipment (fixedassets).

(b) The Property Plant and Equipment (fixed assets) have been physically verified bythe management according

(c) to the phased program of three years which is reasonable with regard to size of thecompany and nature of its assets. Pursuant to the program a portion of the fixed assetshave been physically verified by the management during the year and no significantmaterial discrepancies between the book records and such physical verification have beennoticed.

(d) According to the information and explanations given to us and the records examinedby us and based on the examination of the conveyance deed provided to us we report thatthe title deeds comprising all the immovable properties of land which are freehold areheld in the name of the Company.

2 The physical verification of inventory has been conducted at reasonable intervals bythe management. No material discrepancies were noticed.

3 As informed and according to the information and explanation given to us the companyhas not granted loans secured or unsecured to companies firms or other parties coveredin the register maintained under section 189 of the Companies Act 2013. According theprovision of clause 3(iii)(a)(b) and (c) are not applicable to the company.

4 In our opinion and according to the information and explanations given to us theprovisions of Section 185 and 186 of the Act in respect of grant of loans makinginvestments and providing guarantees and securities are not applicable to the company.

5 In our opinion and according to the information and explanations given to us theCompany has not accepted deposits hence the directives issued by the Reserve Bank ofIndia and the provisions of sections 73 to 76 or any other relevant provisions of theCompanies Act and the rules framed there under are not applicable to it. According to theinformation and explanations given to us no order has been passed againstthe company byCompany Law Board or National Company Law Tribunal or Reserve Bank of India or any courtor any other tribunal.

6 The Central Government has not prescribed the maintenance of cost records undersection 148(1) of the Companies Act 2013 for any of the services rendered by thecompany.

7 According to the information and explanations given to us and on the basis ofexamination of the records of the Company in respect of statutory dues:

a. the company is generally regular in depositing undisputed statutory dues includingprovident fund employees' state insurance sales-tax wealth tax income tax servicetax custom duty excise duty value added tax cess and any other material statutory dueswith the appropriate authorities to the extent applicable and further there are noundisputed statutory dues payable for a period of more than six months from the date theybecome payable as at 31stMarch 2018.

b. There are no undisputed amounts payable in respect of income tax sales tax servicetax duty of excise duty of custom and other material statutory dues were in arrears ason 31st March 2018 for a period of more than six months from the date they becamepayable.

8 According to the information and explanations given to us and on the basis ofexamination of the records of the Company the company has not defaulted in repayment ofloans or borrowings to a financial institution bank government or dues to debentureholders.

9 The Company did not raise any money by way of initial public offer or further publicoffer (including debt instruments) and has raised term loans during the year. In ouropinion and according to the information and explanations given to us the Term loanraised during the year was applied for the purpose for which it was raised.

10 During the course of our examination of the books & records of the companycarried out in accordance with the generally accepted auditing Practices in India andaccording to the information and explanation given to us we have neither come across anyinstances of fraud on or by the company noticed or reported during the year nor have webeen informed of such case by Management.

11 In our opinion and according to the information and explanations given to us theCompany has paid/provided managerial remuneration in accordance with the requisiteapprovals mandated by the provisions of Section 197 read with Schedule V to the Act.

12 The Company is not a Nidhi Company and hence reporting under clause 3(xii) of theOrder is not applicable.

13 According to the information and explanations given to us the Company is incompliance with Section 177 and 188 of the Act where applicable for all transactionswith the related parties and the details of related party transactions have been disclosedin the standalone Ind AS financial statements as required by the applicable Indianaccounting standards.

14 The Company has not made any preferential allotment or private placement of sharesor fully or partly convertible debentures and hence reporting under clause 3(xiv) of theOrder is not applicable to the Company.

15 In our opinion and according to the information and explanations given to us duringthe year the Company has not entered into any non-cash transactions with its Directors orpersons connected to its Directors and hence provisions of Section 192 of the Act are notapplicable. Accordingly paragraph 3(xv) of the Order is not applicable.

16 The Company is not required to be registered under Section 45-IA of the Reserve Bankof India Act

For Mittal Garg Gupta & Co

Chartered Accountants

FRN 016591N

C A Sanjay Gupta

Partner

M. No. 093321

Place : New Delhi

Dated : 29th May 2018