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Hi-Tech Winding Systems Ltd.

BSE: 541627 Sector: Industrials
NSE: N.A. ISIN Code: INE173V01013
BSE 00:00 | 24 Jan 20.20 -0.15
(-0.74%)
OPEN

20.80

HIGH

20.80

LOW

19.35

NSE 05:30 | 01 Jan Hi-Tech Winding Systems Ltd
OPEN 20.80
PREVIOUS CLOSE 20.35
VOLUME 10996
52-Week high 30.00
52-Week low 7.35
P/E 21.96
Mkt Cap.(Rs cr) 10
Buy Price 19.35
Buy Qty 11.00
Sell Price 20.20
Sell Qty 3000.00
OPEN 20.80
CLOSE 20.35
VOLUME 10996
52-Week high 30.00
52-Week low 7.35
P/E 21.96
Mkt Cap.(Rs cr) 10
Buy Price 19.35
Buy Qty 11.00
Sell Price 20.20
Sell Qty 3000.00

Hi-Tech Winding Systems Ltd. (HITECHWINDING) - Auditors Report

Company auditors report

On Standalone Financial Results of the Company Pursuant to theRegulation 33 and Regulation 52 read with Regulation 63(2) of the SEBI (ListingObligations and Disclosure Requirements! Regulations 2015

To

The Board of Directors

M/s Hi-Tech Winding Systems Limited

These standalone financial results are based on the standalonefinancial statements for the year ended 31st March 2018 prepared in accordancewith the accounting principles generally accepted in India including Indian AccountingStandards {‘IND AS') specified under Section 133 of the Companies Act 2013{‘the Act') and published standalone year to date figures up to the end of the thirdquarter of the financial year prepared in accordance with the regulation and measurementprinciples laid down in IND AS 34 Interim Financial Reporting specified under Section133 of the Act and SEBI Circulars CIR/CFD/CMD/15/2015 dated 30th November2015 and CIR/CFD/FAC/62/2016 dated 5th July 2016 which are theresponsibilities of the Company's management. Our responsibility is to express an opinionon these standalone financial results based on our audit of the standalone financialstatements for the year ended 31st March 2018 and our review of standalonefinancial results for the nine months period ended 31st December 2017.

We conducted our audit in accordance with the Standards onAuditing issued by the Institute of Chartered Accountants of India. Those Standardsrequire that we plan and perform the audit to obtain reasonable assurance about whetherthe Statement is free from material misstatement. An audit includes examining on testbasis evidence supporting amounts disclosed on the Statement. An audit also includesevaluating the. appropriateness of the accounting policies used and the reasonableness ofthe significant accounting estimates made by the Management as well as evaluating theoverall presentation of the Statement. We belieyeThat the audit evidence we have obtainedis sufficient and appropriate to provide a ' basis for our opinion.

• In .ouropinion and to the best of our information andaccording to the explanations given to us. the standalone financial results: (i)

(i) are presented in accordance with the requirements ofRegulation 33 of the SEB (Listing Obligations and Disclosure Requirements) Regulations2015 read with SEBI Circulars CIR/CFD/CMD/15/2015 dated 30tfl November 2015and CIR/CFD/FAC/62/2016 dated 5th July 2016 in this regard; and .. .

(ij) give a true and fair view of the standalone net profit(including other comprehensive income) and other financial information in conformity withthe accounting principles generally accepted in India including IND AS specified underSection 133 of the Act for the year ended 31st March 2018.

The Company has prepared separate standalone results for the yearended 31st March 2017 ba&ed on the standalone financial statements forthe year ended 31st March 2017 prepared in accordance with AccountingStandards (‘AS') prescribed under Section 133 of the Act read with Rule & of theCompanied (Accounts) Rules 2014 (as amended) on which we issued auditor's report dated 30hMay 2017 and standalone financials results for the nine months period ended 31stDecember 2016 prepared in accordance with the recognition and measurement principles laiddown in AS 25 Interim Financial Reporting prescribed under Section 133 of the Act readwith Rule 7 of the Companies (Accounts) Rules 2014 (as amended) and other accountingprinciples generally accepted in India which have not been audited/reviewed by us. Thesestandalone financials statements for the year ended 31 th March 2017 have been adjustedfor the differences in the accounting principles adopted by the Company on transition toIND AS which have also been audited by us. Our opinion is not modified in respect forthis matter.

ANNEXURE TO INDEPENDENT AUDITORS REPORT Annexure 'A'

Referred to in Paragraph 1 under the heading of "Report onother Legal and Regulatory Requirements of our report of even date

On the basis of such checks as we considered appropriate and interms of the information and explanation given to us we state that:

a. There is no Fixed Asset at year end.

ii. There is no Inventory at year end.

iii. According to the information and explanations given to usand on the basis of our examination of the books of account the Company has not grantedany loans secured or unsecured to companies firms Limited Liability Partnerships orother parties listed in the register maintained under Section 189 of the Companies Act2013.Consequently the provisions of clauses iii (a) (b) and (c)of the order are notapplicable to the Company.

iv. In our opinion and according to the information andexplanations given to us company has complied with the provision of section 185 and 186of the Companies Act 2013 In respect of Joans investment guarantees and security.

v. The company has not accepted any deposits from the public andhence the directives issued by the Reserve Bank of India and the provision of sections 73to 76 or any other relevant provisions of the Act and the Companies (Acceptance ofDeposit) Rules2015 with regards to the deposits accepted from the public are notapplicable.

vi. As per information & explanation given by the managementmaintenance of cost records has not been specified by the Central Government undersub-section (1) of section 148of the Companies Act 2013.

vii. According to information and explanations given to us and onbasis of our examination of the books of account and records the company has beengenerally regular in depositing undisputed statutory dues including Income-tax Sales-taxService Tax Custom Duty Excise Duty value added tax access and any other statutorydues with the appropriate authorities. According to the information and explanations givento us there were no outstanding statutory dues as on 31st of March 2018 for a period ofmore than six months from the date they became payable

viii. In our opinion and according to the information andexplanations given by the management we are of the opinion that the Company has notdefaulted in repayment of dues to a financial institution or bank. The Company has nottaken any loan either from financial institutions or from the government and has * notissued any debentures.

ix. Based on our audit procedures and according to theinformation given by the management the company has not raised any money by way ofinitial public offer or further public offer (including debt instruments) or taken anyterm loan during the year.

x. According to the information and explanations given to us wereport that no fraud by the company or any fraud on the Company by its officers oremployees has been noticed or reported during the year.

xi. According to the information and explanations given to us wereport that managerial remuneration has been paid or provided in accordance with therequisite approvals mandated by the provisions of section 197 read with Schedule V to theCompanies Act.

xii: The company is not a Nidhi Company Therefore clause (xii)of the order is not applicable to the company.

xiii. According to the information and explanations given tousall transactions with the related parties are in compliance with sections 177 and 188of Companies Act 2013 where applicable and the details have been disclosed in theFinancial Statements etc. as required by the applicable accounting standards.

xiv. Based upon the audit procedures performed and theinformation and explanations given by the management the company has made preferentialallotment during the year under review.

xv. Based upon the audit procedures performed and the informationand explanations given by the management the company has not entered into any non-cashtransactions with directors or person connected with him. Accordingly the provision ofclause 3 (xv) of the Order are not applicable to the Company and hence not commented upon.

xvi. In our opinion the company is not required to be registeredunder section 45-IA of the Reserve Bank of India Act 1934. And accordingly theprovisions of clause 3 (xvi) of the Order are not applicable to the Company and hence notcommented upon.