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Cybele Industries Ltd.

BSE: 531472 Sector: Engineering
NSE: N.A. ISIN Code: INE183D01010
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NSE 05:30 | 01 Jan Cybele Industries Ltd
OPEN 7.89
PREVIOUS CLOSE 8.00
VOLUME 210
52-Week high 9.50
52-Week low 5.19
P/E 61.54
Mkt Cap.(Rs cr) 9
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 7.89
CLOSE 8.00
VOLUME 210
52-Week high 9.50
52-Week low 5.19
P/E 61.54
Mkt Cap.(Rs cr) 9
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Cybele Industries Ltd. (CYBELEINDUSTRIE) - Auditors Report

Company auditors report

To the members of CYBELE INDUSTRIES LTD

Opinion

We have audited the accompanying standalone annual financial results of CybeleIndustries Ltd. (hereinafter referred to as the ‘‘Company") for the yearended 31st March 2020 and the standalone financial results for the quarter ended on 31stMarch 2020 attached herewith being submitted by the Company pursuant to the requirementof Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements)Regulations 2015 as amended (‘Listing Regulations').

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone financial results :

a. are presented in accordance with the requirements of Regulation 33 of the ListingRegulations in this regard; and

b. give a true and fair view in conformity with the recognition and measurementprinciples laid down in the applicable Indian Accounting Standards and other accountingprinciples generally accepted in India of the net profit and other comprehensive incomeand other financial information for the year ended 31st March 2020 as well as for thequarter ended on 31st March 2020.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing ("SAs")specified under section 143(10) of the Companies Act 2013 ("the Act"). Ourresponsibilities under those SAs are further described in the Auditor's Responsibilitiesfor the Audit of the Financial Results section of our report. We are independent of theCompany in accordance with the Code of Ethics issued by the Institute of CharteredAccountants of India together with the ethical requirements that are relevant to our auditof the financial statements under the provisions of the Act and the Rules thereunder andwe have fulfilled our other ethical responsibilities in accordance with these requirementsand the Code of Ethics. We believe that the audit evidence we have obtained is sufficientand appropriate to provide a basis for our opinion on the Standalone financial results.

Management's and Board of Directors' Responsibilities for the Financial Results

These standalone annual financial results as well as

the quarterly financial results have been prepared on the basis of the interimfinancial statements .The Company's Management and the Board of Directors are responsiblefor the preparation and presentation of these standalone annual financial results as wellas quarterly financial results that give a true and fair view of the net profit and othercomprehensive income and other financial information in accordance with the recognitionand measurement principles laid down in Indian Accounting Standards prescribed underSection 133 of the Act and other accounting principles generally accepted in India and incompliance with Regulation 33 of the Listing Regulations. This responsibility alsoincludes maintenance of adequate accounting records in accordance with the provisions ofthe Act for safeguarding of the assets of the Company and for preventing and detectingfrauds and other irregularities; selection and application of appropriate accountingpolicies; making judgments and estimates that are reasonable and prudent; and the designimplementation and maintenance of adequate internal financial controls that wereoperating effectively for ensuring accuracy and completeness of the accounting recordsrelevant to the preparation and presentation of the standalone annual financial resultsthat give a true and fair view and are free from material misstatement whether due tofraud or error.

In preparing the standalone financial results the Management and the Board ofDirectors are responsible for assessing the Company's ability to continue as a goingconcern disclosing as applicable matters related to going concern and using the goingconcern basis of accounting unless the Board of Directors either intends to liquidate theCompany or to cease operations or has no realistic alternative but to do so.

The Board of Directors is responsible for overseeing the Company's financial reportingprocess.

Auditor's Responsibilities for the Audit of the Financial Results

Our objectives are to obtain reasonable assurance about whether the standalonefinancial results as a whole are free from material misstatement whether due to fraud orerror and to issue an auditor's report that includes our opinion. Reasonable assurance isa high level of assurance but is not a guarantee that an audit conducted in accordancewith SAs will always

detect a material misstatement when it exists. Misstatements can arise from fraud orerror and are considered material if individually or in the aggregate they couldreasonably be expected to influence the economic decisions of users taken on the basis ofthese standalone financial results.

As part of an audit in accordance with SAs we exercise professional judgment andmaintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the standalonefinancial results whether due to fraud or error design and perform audit proceduresresponsive to those risks and obtain audit evidence that is sufficient and appropriate toprovide a basis for our opinion. The risk of not detecting a material misstatementresulting from fraud is higher than for one resulting from error as fraud may involvecollusion forgery intentional omissions misrepresentations or the override of internalcontrol.

• Obtain an understanding of internal control relevant to the audit in order todesign audit procedures that are appropriate in the circumstances but not for the purposeof expressing an opinion on the effectiveness of the company's internal control.

• Evaluate the appropriateness of accounting policies used and the reasonablenessof accounting estimates and related disclosures in the standalone financial results madeby the Management and Board of Directors.

• Conclude on the appropriateness of the Management and Board of Directors use ofthe going concern basis of accounting and based on the audit evidence obtained whether amaterial uncertainty exists related to events or conditions that may cast significantdoubt on the appropriateness of this assumption. If we conclude that a materialuncertainty exists we are required to draw attention in our auditor's report to therelated disclosures in the standalone financial results or if such disclosures areinadequate to modify our opinion. Our conclusions are based on the audit evidenceobtained up to the date of our auditor's report. However future events or conditions maycause the Company to cease to continue as a going concern.

• Evaluate the overall presentation structure and content of the standaloneannual financial results including the disclosures and whether the standalone financialresults represent the underlying transactions and events in a manner that achieves fairpresentation.

We communicate with those charged with governance regarding among other matters theplanned scope and timing of the audit and significant audit findings including anysignificant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have compliedwith relevant ethical requirements regarding independence and to communicate with themall relationships and other matters that may reasonably be thought to bear on ourindependence and where applicable related safeguards.

Other Matters

The standalone Ind As financial statements of the company for the year ended 31stMarch 2020 are audited by us and express an unmodified opinion on those standalonefinancial statements.

For M/s. Manavalan & Co.
Chartered Accountants
V.P.Manavalan
Place : Chennai Proprietor
Date : 18.06.2020 Membership No.: 220470

Report on other legal and regulatory Requirements

1) As required by section 143 (3) of the act we report that.

a) we have sought and obtained all the information's and explanations which to the bestof our Knowledge and believes were necessary for the purposes of our audit

b) In our opinion proper books of accounts as required by law have been kept by thecompany so far as its appears from our examination of those books.

c) The balance sheet the statement of profit and loss the statement of changes inequity and cash flow statement dealt with

by this report are in agreement with the books of account.

d) In our opinion the aforesaid standalone Ind AS financial statements comply with theAccounting standards specified under section 133 of the Act as applicable.

e) On the basis of written representations received from the directors as on 31.03.2020taken on record by the Board of Directors none of the directors is disqualified as on31.03.2020 from being appointed as a director in terms of section 164 (2) of the act.

f) With respect to the other matters to be included in the auditors report inaccordance with rule 11 of the companies (audit and auditors) rule 2014 in our opinionand to the best of our information's and according to the explanations given to us:

i) the companies dose not have any pending litigations which would impact its financialposition

ii) the company did not have any long term contract including derivatives contracts forwhich there were any material forseeable losses

iii) No amount is required to be transferred to the investor education and protectionfund by the company

As required by the Companies (Auditor's Report) Order 2016 (‘the Order') issuedby the Central Government in terms of Section 143(11) of the Act we give in"Annexure" a statement on the matters specified in paragraph 3 and 4 of theOrder.

For M/s. Manavalan & Co.
Chartered Accountants
V.P.Manavalan
Place : Chennai Proprietor
Date : 18.06.2020 Membership No.: 220470

Annexure to the Auditor's Report

The annexure referred to in Para 1 under the heading of "Report on other Legal andRegulatory Requirements" of our report to the members of the Company for the yearended 31st March 2020.

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

b) The assets have been physically verified by the management at the end of financialyear which in our opinion is reasonable having regard to the size of the Company and thenature of its fixed assets. According to the information and explanations given to us nomaterial discrepancies were noticed on such verification.

2) a) The inventories have been physically verified during the year by the management.In our opinion the frequency of verification is reasonable.

b) In our opinion and according to the information and explanations given to us theprocedures of physical verification of inventories followed by the management arereasonable and adequate in relation to the size of the Company and the nature of itsbusiness.

c) The Company has maintained proper records of inventories. As explained to us therewere no materials discrepancies noticed on physical verification of inventories ascompared to the book records. And all the title deeds of immovable properties are held inthe name of the company.

3) a) During the year the company has not granted any loans secured or unsecured tocompanies firms or other parties covered in the Register maintained under section 189 ofthe Companies Act 2013.

4) In our opinion and according to the information and explanations given to us thereis an adequate internal control system commensurate with the size of the Company and thenature of its business with regard to purchase of inventory and fixed assets and for thesale of goods and services. During the course of our audit we have not observed anycontinuing failure to correct major weaknesses in internal control system.

5) The company has not accepted Deposits form Directors and Inter Corporate. In ouropinion and according to information and explanations given to us all the directivesissued by the Reserve Bank of India and provisions of Section 73 to 76 or any otherrelevant provisions of the Companies Act 2013 and the rules framed there under whereapplicable were complied with. Further we are informed by the management that no orderhas been passed by the Companies Law Board or National Company Law Tribunal or RBI or anycourt or any Other Tribunal on the Company.

6) We have broadly reviewed the cost records maintained by the Company specified by theCentral Government under sub Section (1) of Section 148 of the Companies Act 2013 and areof the opinion that prima facie the prescribed accounts and records have been made andmaintained. We have however not made a detailed examination of the cost records with aview to determine whether they are accurate or complete.

7) a) According to the information and explanation given to us and on the basis of ourexamination of the records of the company amount deducted/accrued in the books ofaccounts in respect of undisputed Statutory dues including Provident Fund Employees'State Insurance Income Tax Sales Tax Wealth Tax Service Tax Customs Duty Value AddedTax Excise Duty Cess and other material Statutory dues applicable have been regularlydeposited with the appropriate authorities.

b) According to the information and explanations given to us no undisputed amountspayable in respect of income Tax Wealth Tax Service Tax Sales Tax Customs Duty andExcise Duty Value Added Tax Cess and other material statutory dues were in arrears as at31st

March 2020 for a period of more than six months from the date they became payable.

c) According to the information and explanation given to us no amount is required to betransferred to the investor education and protection fund in accordance with the relevantprovisions of the Companies Act 2013 and rules made there under.

8) The company does not have any accumulated losses at the end of the financial yearand has not incurred cash losses in the financial year and in the immediately precedingfinancial year.

9) Based on our audit procedures and according to the information and explanationsgiven to us we are of the opinion that the company has not defaulted in repayment of duesto financial institutions and banks. The Company does not have any borrowings by way ofdebentures.

10) According to the information & explanation given to us the Company has notgiven any guarantee for loans taken by others from banks and financial institutions.

11) The loans outstanding at the beginning of the year and those raised during the yearhave been applied for the purpose for which they were raised.

12) In our Opinion and according to the information and explanations given to us nomaterial fraud on or by the Company has been noticed or reported during the year.

13) In our Opinion and according to the information and explanations given to us thecompany is not a Nidhi company accordingly paragraph 3(xii) of the order is notapplicable.

14) According to the information & explanation given to us the Company and basedon our examination of the records of the company the company has not entered inti noncash transaction with directors or persons connected with him.

15) The company is not required to be registered under section 45-1A of the RBI Act1934.

For M/s. Manavalan & Co.
Chartered Accountants
V.P.Manavalan
Place : Chennai Proprietor
Date : 18.06.2020 Membership No.: 220470

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