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Filtra Consultants & Engineers Ltd.

BSE: 539098 Sector: Engineering
NSE: N.A. ISIN Code: INE541R01019
BSE 00:00 | 26 Nov 12.00 0
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OPEN

11.99

HIGH

12.00

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11.99

NSE 05:30 | 01 Jan Filtra Consultants & Engineers Ltd
OPEN 11.99
PREVIOUS CLOSE 12.00
VOLUME 18000
52-Week high 14.75
52-Week low 9.16
P/E 6.06
Mkt Cap.(Rs cr) 10
Buy Price 11.20
Buy Qty 9000.00
Sell Price 12.00
Sell Qty 9000.00
OPEN 11.99
CLOSE 12.00
VOLUME 18000
52-Week high 14.75
52-Week low 9.16
P/E 6.06
Mkt Cap.(Rs cr) 10
Buy Price 11.20
Buy Qty 9000.00
Sell Price 12.00
Sell Qty 9000.00

Filtra Consultants & Engineers Ltd. (FILTRACONSULT) - Auditors Report

Company auditors report

TO THE MEMBERS OF FILTRA CONSULTANTS AND ENGINEERS LIMITED

Report on the Audit of the Standalone Financial Statement

Opinion

We have audited the standalone financial statements of FILTRA CONSULTANTS AND ENGINEERSLIMITED ("the Company") which comprise the balance sheet as at 31st March 2019and the statement of profit and loss and statement of cash flows for the year then endedand notes to the financial statements including a summary of significant accountingpolicies and other explanatory information

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 Companies Act 2013 in the manner so required and give a true and fair view inconformity with the accounting principles generally accepted in India of the state ofaffairs of the Company as at March 31 2019 and its profit and its cash flows for theyear ended on that date.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specifiedunder section 143(10) of the Companies Act 2013. Our responsibilities under thoseStandards are further described in the Auditor's Responsibilities for the Audit of theFinancial Statements section of our report. We are independent of the Company inaccordance with the Code of Ethics issued by the Institute of Chartered Accountants ofIndia together with the ethical requirements that are relevant to our audit of thefinancial statements under the provisions of the Companies Act 2013 and the Rulesthereunder and we have fulfilled our other ethical responsibilities in accordance withthese requirements and the Code of Ethics. We believe that the audit evidence we haveobtained is sufficient and appropriate to provide a basis for our opinion.

Key Audit Matters

Key audit matters are those matters that in our professional judgment were of mostsignificance in our audit of the financial statements of the current period. These matterswere addressed in the context of our audit of the financial statements as a whole and informing our opinion thereon and we do not provide a separate opinion on these matters.

We have determined that there are no key audit matters to be communicated in ourreport.

Information Other than the Financial Statements and Auditor's Report Thereon

The Company's Board of Directors is responsible for the other information. The otherinformation comprises the information included in the Annual Report but does not includethe financial statements and our auditor's report thereon.

Our opinion on the financial statements does not cover the other information and we donot express any form of assurance conclusion thereon.

In connection with our audit of the financial statements our responsibility is to readthe other information and in doing so consider whether the other information ismaterially inconsistent with the financial statements or our knowledge obtained in theaudit or otherwise appears to be materially misstated. If based on the work we haveperformed we conclude that there is a material misstatement of this other information weare required to report that fact. We have nothing to report in this regard.

Responsibilities of Management and Those Charged with Governance for the StandaloneFinancial 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 financial statements that give a true and fair view of the financialposition financial performance and cash flows of the Company in accordance with theaccounting principles generally accepted in India including the Accounting Standardsspecified under Section 133 of the Act read with Rule 7 of the Companies (Accounts)Rules 2014. This responsibility also includes maintenance of adequate accounting recordsin accordance with the provisions of the Act for safeguarding of the assets of the Companyand for preventing and detecting 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 controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe financial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

In preparing the financial statements the Board of Directors is responsible forassessing the Company's ability to continue as a going concern disclosing as applicablematters related to going concern and using the going concern basis of accounting unlessthe Board of Directors either intends to liquidate the Company or to cease operations orhas no realistic alternative but to do so.

Those Board of Directors are also responsible for overseeing the Company's financialreporting process.

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financialstatements as a whole are free from material misstatement whether due to fraud or errorand to issue an auditor's report that includes our opinion. Reasonable assurance is a highlevel of assurance but is not a guarantee that an audit conducted in accordance with SAswill always detect a material misstatement when it exists. Misstatements can arise fromfraud or error and are considered material if individually or in the aggregate theycould reasonably be expected to influence the economic decisions of users taken on thebasis of these standalone financial statements.

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

• Identify and assess the risks of material misstatement of the standalonefinancial statements 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. Under Section 143(3)(i)of the Act we are also responsible for expressing our opinion on whether the company hasadequate internal financial controls with reference to standalone financial statements inplace and the operating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonablenessof accounting estimates and related disclosures made by management.

• Conclude on the appropriateness of management's use of the going concern basisof accounting and based on the audit evidence obtained whether a material uncertaintyexists related to events or conditions that may cast significant doubt on the Company'sability to continue as a going concern. If we conclude that a material uncertainty existswe are required to draw attention in our auditor's report to the related disclosures inthe standalone financial statements or if such disclosures are inadequate to modify ouropinion. Our conclusions are based on the audit evidence obtained up to the date of ourauditors' report. However future events or conditions may cause the Company to cease tocontinue as a going concern.

• Evaluate the overall presentation structure and content of the standalonefinancial statements including the disclosures and whether the standalone financialstatements 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.

From the matters communicated with those charged with governance we determine thosematters that were of most significance in the audit of the standalone financial statementsof the current period and are therefore the key audit matters. We describe these mattersin our auditors' report unless law or regulation precludes public disclosure about thematter or when in extremely rare circumstances we determine that a matter should not becommunicated in our report because the adverse consequences of doing so would reasonablybe expected to outweigh the public interest benefits of such communication.

Report on Other Legal and Regulatory Requirements

As required by the Companies (Auditors' Report) Order2016("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 statements on the matters specified inparagraphs 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 relating to thepreparation of aforesaid standalone financial statements have been kept by the Company sofar as it appears from our examination of those books.

(c) The standalone Balance Sheet the standalone Statement of Profit and Loss and thestandalone cash flow statement dealt with by this Report are in agreement with the booksof 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 on31/03/2019 taken on record by the Board of Directors none of the directors isdisqualified as 31/03/2019 from being appointed as a director in terms of Section 164 (2)of the Act.

(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 B".

(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 in our opinionand to the best of our information and according to the explanations given to us:

i. The Company does not have any litigations pending whose impact required to discloseon its financial position.

ii. The Company has made provision as required under the applicable law or accountingstandards for material foreseeable losses if any on long-term contracts includingderivative contracts.

iii. There were no amounts which required to be transferred to the Investor Educationand

Protection Fund by the Company.

Date : 22/05/2019 FOR KRUNAL M. SHAH AND CO.
Place : MUMBAI (Chartered Accountants)
Reg No. :131794W
Sd/-
KRUNAL M. SHAH
Partner
M.No. : 115075

ANNEXURE - A

Reports under The Companies (Auditor's Report) Order 2016 (CARO 2016) for the yearended on 31st March 2019 To The Members of FILTRA CONSULTANTS AND ENGINEERS LIMITED

(i) In Respect of Fixed Assets

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

(b) Fixed assets have been physically verified by the management at reasonableintervals; No material discrepancies were noticed on such verification.

(c) Title Deeds of all Immovable Properties are held in the Name of the Company.

(ii) In Respect of Inventories

Physical verification of inventory except goods-in-transit has been conducted atreasonable intervals by the management. The discrepancies noticed on verification betweenthe physical stocks and the book records were not material.

(iii) Compliance under section 189 of The Companies Act 2013

The company has not granted any loans secured or unsecured to companies firms orother parties covered in the register maintained u/s 189 of the companiesAct-2013.Accordingly clause (iii)(a) (iii)(b) (iii) (c) are not applicable to theCompany for the Current year.

(a) N.A. (b) N.A. (c) N.A.

(iv) Compliance under section 185 and 186 of The Companies Act 2013

The Company has not entered into any transaction for loans investments guaranteesand security under provisions of section 185 and 186 of the Companies Act 2013 during theyear.

(v) Compliance under section 73 to 76 of The Companies Act 2013 and Rules framedthereunder while accepting Deposits The company has not accepted any Deposits from thePublic.

(vi) Maintenance of cost records

The Company is not required to maintain cost records pursuant to the Rules made by theCentral Government for the maintenance of cost records under sub-section (1) of section148 of the Companies Act 2013.

(vii) Deposit of Statutory Dues

(a) The company is regular in depositing the undisputed statutory dues includingprovident fund employees` state insurance income tax sales tax wealth tax servicetax custom duty excise duty. Cess and other statutory dues applicable to the Companywith the appropriate authorities.

No undisputed amounts payable in respect of the aforesaid statutory dues wereoutstanding as at the last day of the financial year for a period of more than six monthsfrom the date they became payable.

(b) There is no dispute with the revenue authorities regarding any duty or tax payable.

(viii) Repayment of Loans and Borrowings

The company has not borrowed any loan or borrowings from any financial institutionbank or debenture holders.

(ix) Utilization of Money Raised by Public Offers and Term Loan For which they Raised

The moneys raised by way of initial public offer were applied for the purpose for whichit has been raised by the company.

(x) Reporting of Fraud During the Year

Based on our audit procedures and the information and explanation made available to usno such fraud noticed or reported during the year.

(xi) Managerial Remuneration

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) Compliance by Nidhi Company Regarding Net Owned Fund to Deposits Ratio As perinformation and records available with us The company is not Nidhi Company.

(xiii) Related party compliance with Section 177 and 188 of companies Act - 2013

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

(xiv) Compliance under section 42 of Companies Act - 2013 regarding Private placementof Shares or Debentures The Company has not made any preferential allotment or privateplacements of shares or convertible debentures during the year under review.

(xv) Compliance under section 192 of Companies Act - 2013

The company has not entered into any non-cash transactions with directors or personsconnected with him.

(xvi) Requirement of Registration under 45-IA of Reserve Bank of India Act 1934

The company is not required to be registered under section 45-IA of the Reserve Bank oflndia Act.

Date : 22/05/2019 FOR KRUNAL M. SHAH AND CO.
Place : MUMBAI (Chartered Accountants)
Reg No. :131794W
Sd/-
KRUNAL M. SHAH
Partner
M.No. : 115075

"Annexure B" to the Independent Auditor's Report of even date on theStandalone Financial Statements of FILTRA CONSULTANTS AND ENGINEERS LIMITED

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section143 of the Companies Act 2013 ("the Act")

We have audited the internal financial controls over financial reporting of FILTRACONSULTANTS AND ENGINEERS LIMITED ("The Company") as of March 31 2019 inconjunction with our audit of the standalone financial statements of the Company for theyear ended 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. These responsibilities includethe design implementation and maintenance of adequate internal financial controls thatwere operating effectively for ensuring the orderly and efficient conduct of its businessincluding adherence to company's policies the safeguarding of its assets the preventionand detection of frauds and errors the accuracy and completeness of the accountingrecords and the timely preparation of reliable financial information as required underthe Companies Act 2013.

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 Guidance Note on Audit of Internal Financial Controls Over Financial Reporting(the "Guidance Note") and the Standards on Auditing issued by ICAI and deemedto be prescribed under section 143(10) of the Companies Act 2013 to the extentapplicable to an audit of internal financial controls both applicable to an audit ofInternal Financial Controls and both issued by the Institute of Chartered Accountants ofIndia. Those Standards and the Guidance Note require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetheradequate internal financial controls over financial reporting was established andmaintained and if such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence amount the adequacyof the internal financial control system over financial reporting and their operatingeffectiveness. Our audit of internal financial controls over financial reportingassessing the risk that a material weakness exists and operating effectiveness ofinternal control based on the assessed risk. The procedures selected depend upon on theauditor's judgment including the assessment of the risks of material misstatement of thefinancial statements whether due to fraud or 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 financial statements for external purposes in accordance with generallyaccepted accounting principles. A company's internal financial control over financialreporting includes those policies and procedures that (1) pertain to the maintenance ofrecords that in reasonable detail accurately and fairly reflect the transactions anddispositions of the assets of the company; (2) provide reasonable assurance thattransactions are recorded as necessary to permit preparation of financial statements inaccordance with generally accepted accounting principles and that receipts andexpenditures of the company are being made only in accordance with authorizations ofmanagement and directors of the company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorized acquisition use or disposition of thecompany's assets that could have a material effect on the 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 material misstatements due to error or fraud may occur and not be detected.Also projections of any evaluation of the internal financial controls over financialreporting to future periods are subject to the risk that the internal financial controlover financial reporting may become inadequate because of changes in conditions or thatthe degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion the Company has in all material respects an adequate internalfinancial controls system over financial reporting and such internal financial controlsover financial reporting were operating effectively as at March 31 2019 based on theinternal control over financial reporting criteria established by the Company consideringthe essential components of internal control stated in the Guidance Note on Audit ofInternal Financial Controls over Financial Reporting issues by the Institute of CharteredAccountants of India.

Date : 22/05/2019 FOR KRUNAL M. SHAH AND CO.
Place : MUMBAI (Chartered Accountants)
Reg No. :131794W
Sd/-
KRUNAL M. SHAH
Partner
M.No. : 115075

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