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Integra Engineering India Ltd.

BSE: 505358 Sector: Industrials
NSE: N.A. ISIN Code: INE984B01023
BSE 00:00 | 14 Aug 55.05 -0.70
(-1.26%)
OPEN

55.20

HIGH

56.80

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55.00

NSE 05:30 | 01 Jan Integra Engineering India Ltd
OPEN 55.20
PREVIOUS CLOSE 55.75
VOLUME 9952
52-Week high 76.60
52-Week low 37.55
P/E 44.76
Mkt Cap.(Rs cr) 188
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 55.20
CLOSE 55.75
VOLUME 9952
52-Week high 76.60
52-Week low 37.55
P/E 44.76
Mkt Cap.(Rs cr) 188
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Integra Engineering India Ltd. (INTEGRAENGG) - Auditors Report

Company auditors report

To

The Members of

Integra Engineering India Limited

Report on the Standalone Indian Accounting Standards (Ind AS) Financial Statements

We have audited the accompanying standalone Ind AS financial statements of INTEGRAENGINEERING INDIA LIMITED ("the Company") which comprise the Balance Sheet asat 31st March 2018 the Statement of Profit and Loss including othercomprehensive income the Cash Flow Statement and the Statement of Changes in Equity forthe year then ended and a summary of the significant accounting policies and otherexplanatory information ("standalone Ind AS financial statements").

Management's Responsibility for the Standalone Ind AS 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 ofthese standalone 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 (Ind AS) prescribed under Section 133 of the 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 standalone IndAS financial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these standalone Ind AS financialstatements based 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 of the standalone Ind AS financial statements in accordance withthe Standards on Auditing specified under Section 143(10) of the Act. Those Standardsrequire that we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether the standalone Ind AS financial statements are freefrom material misstatement.

An audit involves performing procedures to obtain audit evidence

about the amounts and the disclosures in the standalone Ind AS financial statements.The procedures selected depend on the auditor's judgment including the assessment of therisks of material misstatement of the standalone Ind AS financial statements whether dueto fraud or error. In making those risk assessments the auditor considers internalfinancial control relevant to the Company's preparation of the standalone Ind AS financialstatements that give a true and fair view in order to design audit procedures that areappropriate in the circumstances. An audit also includes evaluating the appropriateness ofthe accounting policies used and the reasonableness of the accounting estimates made bythe Company's Directors as well as evaluating the overall presentation of the standaloneInd AS financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide abasis for our audit opinion on the standalone Ind AS financial statements.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone 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 2018 and its financialperformance including other comprehensive income its cash flows and the changes in equityfor the year 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 sub-section (11) of section 143 ofthe Act we give in Annexure A statement on the matters specified in paragraphs 3 and 4 ofthe Order.

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 it appears from our examination of those books;

c. The Balance Sheet the Statement of Profit and loss including Other ComprehensiveIncome the Cash Flow Statement and the Statement of Changes in Equity dealt with by thisReport 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;

e. on the basis of the written representations received from the directors as on 31stMarch 2018 and taken on record by the Board of Directors none of the directors is

disqualified as on 31st March 2018 from being appointed as a director interms 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; and

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 has disclosed the impact of pending litigations on its financialposition in its standalone Ind AS financial statements - Refer Note 39 to the standaloneInd AS financial statements;

ii. the Company did not have any long-term contracts including derivative contracts forwhich there were any material foreseeable losses;

iii. there has been no delay in transferring amounts required to be transferred to theInvestor Education and Protection Fund by the Company.

i. (a) In our opinion the Company has maintained proper records showing fullparticulars including quantitative details and situation of fixed assets.

(b) The Company has a regular program of physical verification of fixed asset which inour opinion is reasonable. No material discrepancies were noticed on such verification.

(c) According to the information and explanations given to us and on the basis of ourexamination of the records of the Company the title deeds of immovable properties of theCompany are held in the name of the Company.

ii. As explained to us the inventories were physically verified during the year by theManagement at reasonable intervals and no material discrepancies were noticed during thephysical verification.

iii. In our opinion and according to the information and explanations given to us theCompany has not granted any loans secured or unsecured to Companies firms LimitedLiability Partnerships or other parties covered in the register maintained under section189 of the Companies Act 2013 and therefore reporting under clause (iii) of the Order isnot applicable to the Company.

iv. In our opinion and according to the information and explanations given to us theCompany has not given any loan or guarantee or security under section 185 of the Act. Inrespect of investments made the Company has complied with the provisions of Section 186of the Act.

v. In our opinion and according to the information and explanations given to us theCompany has not accepted any deposits during the year from the public within the meaningof provisions of section 73 to 76 of the Companies Act 2013 and the rules framedthereunder and therefore reporting under clause (v) of the Order is not applicable to theCompany.

vi. The maintenance of cost records under sub section (1) of section 148 of theCompanies Act 2013 is not applicable in view of rule 3 of the Companies (Cost Records andAudit) Amendment Rules 2014 and therefore reporting under clause (vi) of the Order isnot applicable to the Company.

vii. (a) In our opinion and according to the information and explanations given to usthe Company has been regular in depositing with appropriate authorities undisputedstatutory dues including provident fund employee's state insuranceincome-taxsales-tax service tax duty of customs duty of excise value added tax cessand any other statutory dues applicable to it. Further no undisputed amounts

For K. C. Mehta & Co.

Chartered Accountants

Firm's Registration No. 106237W

Sd/- Vishal

P. Doshi

Partner Membership No. 101533

Place: Halol

Date: May 03 2018

payable in respect of aforesaid dues were in arrears as at 31st March 2018for a period of more than six months from the date they become payable.

(b) According to the information and explanations given to us and the records of theCompany examined by us there are no disputed dues in respect of value added tax duty ofcustoms duty of excise and cess which have not been deposited. The following are theparticulars of income tax and service tax as at 31st March 2018 which havenot been deposited on account of dispute:

Name of the Statute Nature of Dues Amount (? '000) Period to which the amount relates Forum where the dispute is pending
The Income Tax Act 1961 Income Tax 3671 A.Y. 2007-08 2008-09 201213 2014-15 Commissioner of Income Tax (Appeal)
19328 A.Y. 2005-06 2007-08 201314 Income tax Appellate Tribunal
965 A.Y. 2002-03 High court of Gujarat
The Finance Act 1944 Service tax 15995 2008-09 to 2014-15 Custom Excise and Service Tax Appellate Tribunal

viii. In our opinion and according to the information and explanations given to us theCompany has not defaulted in repayment of dues to banks. The Company does not have anyloans or borrowings from any financial insti- ution government or by way of debentures.

ix. In our opinion the Company has not raised any money by way of initial public offeror further public offer (including debt instrument) and term loans during the year andtherefore reporting under clause (ix) of the Order is not applicable to the Company.

x. In our opinion and according to information and explanations given to us nomaterial fraud by the Company or on the Company by its officers or employees has beennoticed or reported during the course of our audit.

xi. In our opinion and according to the information and explanations given to us theCompany has not paid or provided any managerial remuneration and hence reporting underclause (xi) of the Order is not applicable to the Company.

xii. In our opinion and according to information and explanations given to us theCompany is not a Nidhi company and therefore reporting under clause (xii) of the Order isnot applicable to the Company.

xiii. In our opinion and according to the information and explanations given to us theCompany is in compliance with sections 177 and 188 of the Act where applicable for alltransactions with related parties and the details have been disclosed in the standaloneInd AS financial statements as required by the applicable accounting standard.

xiv. According to the information and explanations given to us the Company has notmade any preferential allotment or private placement of shares or fully or partlyconvertible debentures during the year and therefore reporting under clause (xiv) of theOrder is not applicable to the Company.

xv. In our opinion and according to the information and explanations given to us theCompany has not entered into any non-cash transactions specified under section 192 of theAct with directors or persons connected with directors and therefore reporting underclause (xv) of the Order is not applicable to the Company.

xvi. The Company is not required to be registered under section 45-IA of the ReserveBank of India Act 1934.

For K. C. Mehta & Co.

Chartered Accountants

Firm's Registration No.106237W

Sd/- Vishal

P. Doshi

Partner Membership No. 101533

Place: Halol

Date: May 03 2018

ANNEXURE B TO THE INDEPENDENT AUDITOR'S REPORT

(referred to in paragraph 2(f) under 'Report on Other Legal and RegulatoryRequirements' section of our report of even date to the members of Integra EngineeringIndia 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 INTEGRAENGINEERING INDIA LIMITED ("the Company") as of 31st March 2018 inconjunction with our audit of the standalone Ind AS financial statements of the Companyfor the year 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 ("ICAI"). Theseresponsibilities include the design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the orderly and efficientconduct of its business including adherence to Company's policies the safeguarding ofits assets the prevention and detection of frauds and errors the accuracy andcompleteness of the accounting records and the timely preparation of reliable financialinformation as required under the 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 prescribed under section143(10) of the Companies Act 2013 to the extent applicable to an audit of internalfinancial controls both applicable to an audit of Internal Financial Controls and bothissued by the Institute of Chartered Accountants of India. Those Standards and theGuidance Note require that we comply with ethical requirements and plan and perform theaudit to obtain reasonable assurance about whether adequate internal financial controlsover financial reporting was established and maintained and if such controls operatedeffectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy ofthe internal financial controls system over financial reporting and their operatingeffectiveness. Our audit of internal financial controls over financial reporting includedobtaining an understanding of internal financial controls over financial reportingassessing the risk that a material weakness exists and testing and evaluating the designand operating effectiveness of internal control based on the assessed risk. The proceduresselected depend on the auditor's judgement including the assessment of the risks ofmaterial misstatement of the standalone Ind AS financial statements whether due to fraudor 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 standalone Ind AS financial statements for external purposes in accordancewith generally accepted accounting principles. A company's internal financial control overfinancial reporting includes those policies and procedures that (1) pertain to themaintenance of records that in reasonable detail accurately and fairly reflect thetransactions and dispositions of the assets of the Company; (2) provide reasonableassurance that transactions are recorded as necessary to permit preparation of standaloneInd AS financial statements in accordance with generally accepted accounting principlesand that receipts and expenditures of the Company are being made only in accordance withauthorisations of management and directors of the Company; and (3) provide reasonableassurance regarding prevention or timely detection of unauthorised acquisition use ordisposition of the Company's assets that could have a material effect on the standaloneInd AS 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 anyevaluation 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 controls over financial reporting were operating effectively as at31st March 2018 based on the internal control over financial reportingcriteria established by the Company considering the essential components of internalcontrol stated in the Guidance Note on Audit of Internal Financial Controls over FinancialReporting issued by the Institute of Chartered Accountants of India.

For K. C. Mehta & Co.

Chartered Accountants

Firm's Registration No. 106237W

Sd/- Vishal

P. Doshi

Partner Membership No. 101533

Place: Halol

Date: May 03 2018