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Kintech Renewables Ltd.

BSE: 512329 Sector: Infrastructure
NSE: N.A. ISIN Code: INE385F01016
BSE 00:00 | 03 Jun 106.00 0
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OPEN

106.00

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106.00

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106.00

NSE 05:30 | 01 Jan Kintech Renewables Ltd
OPEN 106.00
PREVIOUS CLOSE 106.00
VOLUME 1
52-Week high 111.30
52-Week low 102.00
P/E 72.11
Mkt Cap.(Rs cr) 11
Buy Price 0.00
Buy Qty 0.00
Sell Price 106.00
Sell Qty 5.00
OPEN 106.00
CLOSE 106.00
VOLUME 1
52-Week high 111.30
52-Week low 102.00
P/E 72.11
Mkt Cap.(Rs cr) 11
Buy Price 0.00
Buy Qty 0.00
Sell Price 106.00
Sell Qty 5.00

Kintech Renewables Ltd. (KINTECHRENEW) - Auditors Report

Company auditors report

TO THE MEMBERS OF

KINTECH RENEWABLES LIMITED

Report on the Standalone Ind AS Financial Statements

We have audited the accompanying standalone Ind AS financial statements of KINTECHRENEWABLES LIMITED ("the company") which comprise the Balance Sheet as at 31March 2018 the Statement of Profit and Loss (including Other Comprehensive Income) theCash Flow Statement and the Statement of Changes in Equity for the year then ended and asummary of significant accounting policies and other explanatory information.(herein afterrefer to as "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 accounting principles generallyaccepted in India including the Indian Accounting Standards (Ind AS) specified undersection 133 of The Act read with relevant rules there under.

This responsibility also includes maintenance of adequate accounting records inaccordance 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 the design implementation and maintenance of adequateinternal financial control that were operating effectively for ensuring the accuracy andcompleteness ofthe accounting records relevant to the preparation and presentation of theStandalone Ind AS Financial Statements that give a true and fair view and are free frommaterial misstatement 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 theAct theaccounting and auditing standards and matters which are required to be included in theaudit report under the provisions of the Act and the Rules made thereunder. We conductedour audit of the Standalone Ind AS Financial Statements in accordance with the Standardson Auditing issued by the Institute of Chartered Accountants of India as specified underSection 143(10) of the Act. Those Standards require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetherthe standalone Ind AS Financial Statements are free from material misstatement. An auditinvolves performing procedures to obtain audit evidence about the amounts and thedisclosures in the

Standalone Ind AS Financial Statements. The procedures selected depend on the auditor'sjudgment including the assessment of the risks of material misstatement of the StandaloneInd AS Financial Statements whether due to fraud or error. In making those riskassessments the auditor considers internal financial control relevant to the Company'spreparation of the Standalone Ind AS Financial Statements that give a true and fair viewin order to design audit procedures that are appropriate in the circumstances. An auditalso includes evaluating the appropriateness of the accounting policies used and thereasonableness of the accounting estimates made by the Company's Directors as well asevaluating the overall presentation of the Standalone Ind AS Financial Statements.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis 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 section 143(11) of the Act and onthe basis of such checks of the books and records of the company as we consideredappropriate and according to the information and explanations given to us we give in theAnnexure A statement on the matters specified in the paragraph 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 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 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 theIndian Accounting Standards prescribed under section 133 of the Act read with relevantrules issued there under.

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 Director is disqualifiedas on 31st March 2018 from being appointed as a Director in terms of Section 164 (2) ofthe 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. There were no pending litigations which would impact the financial position of thecompany.

ii. In our opinion and as per the information and explanation provided to us theCompany has not entered into any long-term contracts including derivatives contractrequiring provision under applicable laws or accounting standards for materialforeseeable losses.

iii. The company is not required to transfer any amount to Investor Education andProtection Fund.

For DJNV & CO.
Chartered Accountants
Firm Regn. No. 115145W
Place : Ahmedabad Jayesh Parikh
Date : 25th May 2018 (Partner)
M. No. 040650

ANNEXURE - A TO THE AUDITOR'S REPORT

The Annexure referred to in our report to the members of KINTECH RENEWABLESLIMITED forthe year ended on 31st March 2018 we report that:

(i) a. In our opinion and according to the information and explanation given to us thecompany is maintaining proper records showing full particulars including quantitativedetails and situation of fixed assets;

b. In our opinion the fixed assets have been physically verified by the management atreasonable intervals having regard to the size of the company and the nature of itsassets. No material discrepancies were noticed on such verification.

c. The company does not own any immovable property.

(ii) As explained to us the company's business does not deal with inventories.Accordingly the clause (ii) of the order is not applicable to the company and hence notcommented upon.

(iii) The company has granted unsecured loan to a wholly owned subsidiary covered inthe register maintained under section 189 of the act.The company has not granted anyloansecured or unsecured to firms limited liability partnerships or other partiescovered in the said register.

(a) In respect of the aforesaid loan the terms and conditions under which such loanswere granted are not prejudicial to the interest of the company.

(b) There is no stipulation for the repayment of principal and repayment of interest.

(c) There is no overdue in amount of such loan.

(iv) The company has not granted any loans or made any investments or provided anyguarantees or securities to the parties covered under sections 185 and 186 of the Act.Accordingly the provisions of clause 3(iv) of the order are not applicable to the company.

(v) The company has not accepted deposits within the provisions of section 73 to 76 orany other relevant provisions of the Companies Act 2013 therefore the provisions ofparagraph 3(v) of the order are not applicable to the company.

(vi) The central government has not prescribed the maintenance of cost records undersection 148(1) of the Act in respect of any of the company's products and hence clauseVI of the order is not applicable.

(vii) a. According to the records of the company undisputed statutory dues includingprovident fund income tax service tax value added tax cess excise duty and othermaterial statutory dues have been regularly depositedduring the year by the Company withthe appropriate authorities. Asexplained to us the Company did not have any dues onaccount of employees' state insurance & custom duty .According to the information andexplanations given to us no undisputed amounts payable in respect of the aforesaid dueswere outstanding as at 31 March 2018 for a period of morethan six months from the datethey became payable.

b. According to the information and explanations given to us there are nomaterialduesof income tax or sales tax or service tax or duty of customs or duty of excise or valueadded tax which have not been deposited with the appropriate authorities on account of anydispute.

(viii) The company has not taken any loans or borrowing from a financialinstitutionbank Government or dues to debenture holders.

(ix) The company has not raised any moneys by way of initial public offer or furtherpublic offer (including debt instruments) and term loans during the year. Accordinglytheprovision of Clause 3(ix) of the order is not applicable to the company.

(x) During the course of our examination of the books and records ofthecompany carriedout in accordance with the generally accepted auditing practices in India and accordingto the information and explanation given to us we have neither come across any instancesof material fraud by thecompany by its officers or employees noticed or reported duringthe year nor we have been informed of any such case by the management

(xi) The company has not paid any managerial remuneration therefore clause (xi) oftheorder is not applicable.

(xii) The company is not aNidhiCompany and the Nidhi Rules 2014 are not applicable toit the provisions of clause 3(xii) of the order are not applicable to the company.

(xiii) As per the information provided all transactions with the related parties areincompliance with sections 177 and 188 of Companies Act 2013 and thedetails have beendisclosed in the Financial Statements etc. as required by theapplicable accountingstandards;

(xiv) The company has not made any preferential allotment or private placement ofshares or fully or partly convertible debentures during the year under review andhence theclause3(xiv) is not applicable to the company.

(xv) As per the information and explanations given to usthe company has not enteredinto any non-cash transactions with directors or persons connected with him and hence theprovisions of section 192 of Companies Act 2013 are not applicable.

(xvi) The company is not required to be registered under section 45-IA of the ReserveBank of India Act 1934.Hence this clause is not applicable.

For DJNV & CO.
Chartered Accountants
Firm Regn. No. 115145W
Place : Ahmedabad Jayesh Parikh
Date : 25th May 2018 (Partner)
M. No. 040650