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Ishan Dyes & chemicals Ltd.

BSE: 531109 Sector: Industrials
NSE: N.A. ISIN Code: INE561M01018
BSE 00:00 | 20 Mar 33.85 -1.30
(-3.70%)
OPEN

33.00

HIGH

35.10

LOW

33.00

NSE 05:30 | 01 Jan Ishan Dyes & chemicals Ltd
OPEN 33.00
PREVIOUS CLOSE 35.15
VOLUME 3174
52-Week high 63.00
52-Week low 27.45
P/E 5.34
Mkt Cap.(Rs cr) 38
Buy Price 33.55
Buy Qty 50.00
Sell Price 34.90
Sell Qty 50.00
OPEN 33.00
CLOSE 35.15
VOLUME 3174
52-Week high 63.00
52-Week low 27.45
P/E 5.34
Mkt Cap.(Rs cr) 38
Buy Price 33.55
Buy Qty 50.00
Sell Price 34.90
Sell Qty 50.00

Ishan Dyes & chemicals Ltd. (ISHANDYESCH) - Auditors Report

Company auditors report

TO THE MEMBERS OF ISHAN DYES & CHEMICALS LIMITED

1. REPORT ON THE STANDALONE FINANCIAL STATEMENTS

We have audited the accompanying standalone IND AS financial statements of ISHANDYES & CHEMICALS LIMITED ("the Company") which comprise the BalanceSheet as at March 312018 the Profit and Loss Statement (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.

2. 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 'Act1) with respect to the preparationof these 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) prescribedunder 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 Ind AS financial statements thatgive a true and fair view and are free from material misstatement whether due to fraud orerror.

3. AUDITORS' RESPONSIBILITY

a. Our responsibility is to express an opinion on these standalone Ind AS financialstatements based on our audit

b. 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 and the Order under section 143 (11)of the Act.

c. We conducted our audit of the standalone Ind AS financial statements in accordancewith the 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.

a. An audit involves performing procedures to obtain audit evidence about the amountsand the disclosures in the standalone Ind AS financial statements. The procedures selecteddepend on the auditor's judgment including the assessment of the risks of materialmisstatement of the standalone 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 standalone Ind AS financial statements thatgive a true and fair view in order to design audit procedures that are appropriate in thecircumstances. An audit also includes

evaluating the appropriateness of the accounting policies used and the reasonablenessof the accounting estimates made by the Company's Directors as well as evaluating theoverall presentation of the standalone Ind AS financial statements.

b. We believe that the audit evidence obtained by us is sufficient and appropriate toprovide a basis for our audit opinion on the standalone Ind AS financial statements.

4. 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 of the state of affairs of theCompany as at March 31 2018 and its profit total comprehensive income its cash flowsand the changes in equity for the year ended on that date.

5. REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS

1. 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 Statement of Cash Flow and Statement of Changes in Equity dealt with by thisReport are in agreement with the relevant books of account.

d. In our opinion the aforesaid standalone Ind AS financial statements comply with theIndian Accounting Standards prescribed under section 133 of the Act.

e. On the basis of the written representations received from the directors as on 31stMarch 2018 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2018 from being appointed as a director in terms of Section164 (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 A”.

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.

i. The Company has disclosed the impact of pending litigations on its Ind AS financialposition in its financial statements as referred to in Note No. 33.

ii. The Company did not have any long-term contracts including derivative contractswhich may lead to foreseeable losses although company enters into short term forwardcontracts to hedge against foreign currency movements. It has been appropriately disclosedin its financial statements as referred to in Note No. 30.

iii. There the Company does not have any dues that are required to be transferred tothe Investor Education and Protection Fund.

2. As required by the Companies (Auditor's Report) Order 2016 ("the Order")issued by the Central Government in terms of Section 143(11) of the Act we give in"Annexure B" a statement on the matters specified in paragraphs 3 and 4 of theOrder.

Date: 29th May 2018 For G.S. Mathur & Co.
Place: Ahmedabad Chartered Accountants
CA. Bhargav Vaghela
Partner
M. No: 124619