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Fourth Generation Information Systems Ltd.

BSE: 532403 Sector: IT
NSE: N.A. ISIN Code: INE739B01039
BSE 00:00 | 03 Aug Fourth Generation Information Systems Ltd
NSE 05:30 | 01 Jan Fourth Generation Information Systems Ltd
OPEN 4.18
PREVIOUS CLOSE 4.18
VOLUME 25
52-Week high 4.18
52-Week low 2.40
P/E
Mkt Cap.(Rs cr) 1
Buy Price 3.85
Buy Qty 516.00
Sell Price 4.14
Sell Qty 10.00
OPEN 4.18
CLOSE 4.18
VOLUME 25
52-Week high 4.18
52-Week low 2.40
P/E
Mkt Cap.(Rs cr) 1
Buy Price 3.85
Buy Qty 516.00
Sell Price 4.14
Sell Qty 10.00

Fourth Generation Information Systems Ltd. (FOURTHGEN) - Auditors Report

Company auditors report

To

The Members

FOURTH GENERATION INFORMATION SYSTEMS LIMITED Report on the Ind ASfinancial statements

We have audited the accompanying Ind AS financial statements of M/S.FOURTH GENERATION INFORMATION SYSTEMS LIMITED ("the Company") which comprisethe Balance Sheet as at 31st March 2019 the Statement of Profit and Loss (Includingother comprehensive income) the Statement of cash flows and the Statement of Changes inEquity for the year then ended and a summary of the significant accounting policies andother explanatory information (herein referred to as ‘ Ind AS financial statements').

Management's Responsibility for the Financial Statements

The Company's Board of Directors is responsible for the matters statedin Section 134(5) of the Companies Act 2013 ("the Act") with respect to thepreparation of these Ind AS financial statements that give a true and fair view of thefinancial position financial performance including other comprehensive income cash flowsand changes in Equity of the Company in accordance with the accounting principlesgenerally accepted in India including the Indian Accounting Standards specified underSection 133 of the Act read wit relevant rules issued there under. This responsibilityalso includes maintenance of adequate accounting records in accordance with the provisionsof the Act for safeguarding 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 designimplementation and maintenance of adequate internal financial controls that wereoperating effectively for ensuring the accuracy and completeness of the accountingrecords relevant to the preparation and presentation of the financial statements thatgive a true and fair view and are free from material misstatement whether due to fraud orerror.

Auditor's Responsibility

Our responsibility is to express an opinion on these financialstatements based on our audit.

We have taken into account the provisions of the Act the accountingand auditing standards and matters which are required to be included in the audit reportunder the provisions of the Act and the Rules made there under.

We conducted our audit in accordance with the Standards on Auditingspecified under Section 143(10) of the Act. Those Standards require that we comply withethical requirements and plan and perform the audit to obtain reasonable assurance aboutwhether the Ind AS financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence aboutthe amounts and the disclosures in the Ind AS financial statements. The proceduresselected depend on the auditor's judgment including the assessment of the risks ofmaterial misstatement of the Ind AS financial statements whether due to fraud or error.In making those risk assessments the auditor considers internal financial controlrelevant to the Company's preparation of the Ind AS financial statements that give a trueand fair view in order to design audit procedures that are appropriate in thecircumstances. An audit also includes evaluating the appropriateness of the accountingpolicies used and the reasonableness of the accounting estimates made by the Company'sDirectors as well as evaluating the overall presentation of the Ind AS financialstatements.

We believe that the audit evidence we have obtained is sufficient andappropriate to provide a basis for our audit opinion on the Ind AS financial statements.

Opinion

In our opinion and to the best of our information and according to theexplanations given to us the aforesaid 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 including the Ind AS of thefinancial position of the Company as at 31st March 2019 and its financial performanceincluding other comprehensive income its cash flows and the changes in equity for theyear ended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2016("the Order") issued by the Central Government of India in terms of section143(11) of the Act we give in the Annexure -A a statement on the matters specified inparagraphs 3 and 4 of the Order.

2. As required by Section 143 (3) of the Act we report that:

(a) We have sought and obtained all the information and explanationswhich to the best of our knowledge and belief were necessary for the purposes of ouraudit.

(b) In our opinion proper books of account as required by law havebeen kept by the Company so far as it appears from our examination of those books.

(c) The Balance Sheet the Statement of Profit and Loss the statementof Cash flows and the changes in Equity dealt with by this Report are in agreement withthe books of account.

(d) In our opinion the afore said Ind AS financial statements complywith the Accounting Standards specified under Section 133 of the Act relevant rulesissued there under.

(e) On the basis of the written representations received from thedirectors as on 31st March 2019 taken on record by the Board of Directors none of thedirectors is disqualified as on 31st March 2019 from being appointed as a director interms of Section 164 (2) of the Act.

(f) with respect to the adequacy of the internal financial controlsover financial reporting of the Company and the operating effectiveness of such controlsrefer to our separate report in "Annexure B"; and

(g) With respect to the other matters to be included in the Auditor'sReport in accordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 inour opinion and to the best of our information and according to the explanations given tous:

i. The Company does not have any pending litigations which would impactits financial position;

ii. The Company did not have any long-term contracts includingderivative contracts for which there were any material foreseeable losses;

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

For Chanamolu & Co.
Chartered Accountants
Firm Regd No. 010000S
G. Murali
Membership No. 234971
Place: HYDERABAD
Date: 30.05.2019

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