You are here » Home » Companies » Company Overview » Ecoplast Ltd

Ecoplast Ltd.

BSE: 526703 Sector: Industrials
NSE: N.A. ISIN Code: INE423D01010
BSE 00:00 | 22 Jan 110.00 0
(0.00%)
OPEN

113.90

HIGH

114.00

LOW

110.00

NSE 05:30 | 01 Jan Ecoplast Ltd
OPEN 113.90
PREVIOUS CLOSE 110.00
VOLUME 650
52-Week high 179.00
52-Week low 95.50
P/E 13.13
Mkt Cap.(Rs cr) 33
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 113.90
CLOSE 110.00
VOLUME 650
52-Week high 179.00
52-Week low 95.50
P/E 13.13
Mkt Cap.(Rs cr) 33
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Ecoplast Ltd. (ECOPLAST) - Auditors Report

Company auditors report

To The Members of ECOPLAST LIMITED

Report on the Standalone Financial Statements

We have audited the accompanying standalone financial statements of Ecoplast Limited('the Company') which comprise the Balance Sheet as at 31 March 2018 the Statementof Profit and Loss (including other comprehensive income) the Cash Flow Statement andstatement of changes in equity for the year then ended and a summary of the significantaccounting 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 of thesestandalone financial statements that give a true and fair view of the state of affairs(financial position) profit or loss (financial performance) cash flowsand changes inequity of the companyin accordance with the accounting principles generally accepted inIndia including the Indian Accounting Standards ('Ind AS') specified under Section 133 ofthe Act. This responsibility also includes maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding the assets of the Company andfor preventing and detecting frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of adequate internal financialcontrols that were operating effectively for ensuring the accuracy and completeness ofthe accounting records relevant to the preparation and presentation of the standalonefinancial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

Auditors' 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 whetherthese standalone 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 controls 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 these standalone financial statements.

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(financial position)of theCompany as at 31st March 2018;

b) in the case of the Statement of Profit and Loss of the profit(financial performanceincluding other comprehensive income)for the year ended on that date;

c) in the case of the Cash Flow Statement of the cash flows for the year ended on thatdate and Changes in equity for the year ended on that date.

d) Changes in equity for the ended on that date.

Other matters

The audited standalone financial statements for the year ended 31 March 2017 wascarried out and reported by Akkad Mehta & Co. vide their unmodified audit reportdated 22nd May 2017 whose report has been furnished to us by the managementand which has been relied upon by us for the purpose of our audit of the standalonefinancial statements. Our audit report is not qualified in respect of this matter.

Report on other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2016 ('the Order') issued bythe Central Government of India in terms of Section 143(11) of the Act we give in the AnnexureA a statement on the matters specified in paragraphs 3 and 4 of the Order to theextent 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 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 Ind ASspecified under Section 133 of the Act;

e) On the basis of written representations received from the directors as on March312018 taken on record by the Board of Directors none of the directors is disqualifiedas on March 312018 from being appointed as a director in terms of Section 164 (2) of theAct.

f) we have also audited the internal financial controls over financial reporting(IFCoFR) of the Company as on 31

March 2018 in conjunction with our audit of the standalone financial statements of theCompany for the year ended on that date and our report as per Annexure B expressedUnmodified opinion;

g) With respect to the other matters included in the Auditor's Report in accordancewith Rule 11 of the Companies (Audit and Auditors') Rules 2014 (as amended) in ouropinion and to our best of our information and according to the explanations given to us:-

I. The pending litigation as disclosed in notes to the Standalone Financial Statementswould not impact Financial Position of the Company.

II. The Company did not have any long-term contracts including derivatives contractsfor which there were any material foreseeable losses.

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

IV. The disclosure requirements relating to holdings as well as dealings in specifiedbank notes were applicable for the period from 8 November 2016 to 30 December 2016 whichare not relevant to these standalone financial statements. Hence reporting under thisclause is not applicable.

For Y. B. Desai and Associates
Chartered Accountants
Firm Registration No. 102368W
Name :- CA Mayank Y. Desai
Partner
Date :- 28th May 2018 Membership No. :- 108310
Place :- Mumbai.