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KLK Electrical Ltd.

BSE: 517170 Sector: Engineering
NSE: N.A. ISIN Code: INE125G01014
BSE 00:00 | 28 Jun 42.15 0
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NSE 05:30 | 01 Jan KLK Electrical Ltd
OPEN 42.15
PREVIOUS CLOSE 42.15
VOLUME 4050
52-Week high 42.15
52-Week low 12.75
P/E 105.38
Mkt Cap.(Rs cr) 36
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 42.15
CLOSE 42.15
VOLUME 4050
52-Week high 42.15
52-Week low 12.75
P/E 105.38
Mkt Cap.(Rs cr) 36
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

KLK Electrical Ltd. (KLKELECTRICAL) - Auditors Report

Company auditors report

To

The Members

KLK ELECTRICAL LIMITED

Chennai.

Report on the Standalone Ind As Financial Statements

Opinion

We have audited the accompanying Standalone Ind As financial statements of KLKELECTRICAL LIMITED ("the Company") which comprise the Balance Sheet as at31s1 March 2022 Statement of Profit & Loss (including other comprehensive income)the statement of cash flows and the statement of changes in equity for the year then endedand a summary of significant accounting policies and other explanatory information.

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

a) in the case of Balance Sheet of the state of affairs of the Company as at 31 stMarch 2022; and

b) In the case of Statement of Profit & Loss (including other comprehensiveIncome) of the Profit for the year ended on that date.

c) In the case of Cash Flow Statement of the cash flows of the Company for the yearended on that date.

d) In the case of statement of changes in equity for the year ended on that date.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specifiedunder section 143(10) of the Companies Act 2013. Our responsibilities under thoseStandards are further described in the Auditor's Responsibilities for the Audit of theStandalone Ind As Financial Statements section of our report. We are independent of theCompany in accordance with the Code of Ethics issued by the Institute of CharteredAccountants of India together with the ethical requirements that are relevant to our auditof the Standalone Ind As financial statements under the provisions of the Companies Act2013 and the Rules thereunder and we have fulfilled our other ethical responsibilities inaccordance with these requirements and the Code of Ethics. We believe that the auditevidence we have obtained is sufficient and appropriate to provide a basis for ouropinion.

Key Audit Matters :

Key audit matters are those matters that in our professional judgment were of mostsignificance in our audit of the Standalone Ind As financial statements of the currentperiod. These matters were addressed in the context of our audit of the Standalone Ind Asfinancial statements as a whole and in forming our opinion thereon and we do not providea separate opinion on these matters.

Responsibility Management 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 Accounting Standards specified under Section133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014.

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.

In preparing the Standalone Ind As financial statements management is responsible forassessing the Company's ability to continue as a going concern disclosing as applicablematters related to going concern and using the going concern basis of accounting unlessmanagement either intends to liquidate the Company or to cease operations or has norealistic alternative but to do so.

Those Board of Directors are also responsible for overseeing the company's financialreporting process.

Auditor's Responsibility for the Audit of Standalone Ind As Financial Statements

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 Indian accounting andauditing standards and matters which are required to be included in the audit report underthe provisions 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 andthe 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 accountingpolicies used and the reasonableness of the accounting estimates made by the Company'sDirectorsas well as evaluating the overall presentation of the Standalone Ind Asfinancial 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.

Report oil other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 20 i 6 issued by theGovernment of India in terms of sub-section (11) of section 143 of the Companies Act2013 we enclose in the "Annexure A" hereto a statement on the mattersspecified in paragraphs 3 and 4 of the said Order.

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

i) 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.

ii) 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.

iii) The balance sheet the statement of profit and loss (including other comprehensiveIncome) the statement of cash flows and the statement of changes in equity dealt with bythis Report are in agreement with the books of account.

iv) In our opinion the aforesaid Standalone Ind As financial statements comply withthe Accounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014.

v) On the basis of the written representations received from the Directors as on 31stMarch 2022 taken on record by the Board of Directors none of the Directors isdisqualified as on 31s1 March 2022 from being appointed as a Director in terms of Section164 (2) of the Act.

vi) 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"

vii) 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 :

a) Provision relating to Impact of pending litigations on its financial position in itsfinancial Statements -NIL;

b) Provision relating to Material Foreseeable Losses on Long-Term Contracts - NotApplicable. The company neither entered into any derivative contract during the year norhave any outstanding derivative contract at the year end.

c) The provision relating to transferring any amounts to the Investor Education andProtection Fund is not applicable to the company during the year.

"ANNEXURE - A" to the Auditor's Report

Statement referred to in our report of even date to the members of KLK ELECTRICALLIMITED on the Standalone Ind As financial statements for the year ended 31st March2022:

(i) a) The Company has maintained proper records showing full particulars of itsIntangible assets b) The company does not have any Tangible Fixed Assets.

(ii) The company does not carry any inventories; hence the clauses in respect ofinventories are Not applicable.

(iii) The company has not granted any loans secured or unsecured to companies firmsor other parties covered under section 189 of the Companies Act 2013 and hence thisclause is not applicable to the company.

(iv) In our opinion and according to the information and explanations given to uscompany has complied with the provisions of section 185 and Section 186 of Companies Act2013 is not applicable to the company.

(v) The Company has not accepted any deposits from the public and hence the directivesissued by the Reserve Bank of India and the provisions of Sections 73 to 76 or any otherrelevant provisions of the Act and the Companies (Acceptance of Deposit) Rules 2015 withregard to the deposits accepted from the public are not applicable.

(vi) The Central Government has not prescribed maintenance of Cost Records under sub -section (1) of section 148 of the Companies Act 2013.

(vii) a) The Company has not carried on any business activity during the year andhence this clause relating to payment of undisputed statutory dues is not applicable.

b) The Company is not having any disputed liabilities relating to Income Tax or SalesTax or Service Tax or GST or Cess as at the year end.

(viii) In our opinion and according to the information and explanations given to usthe Company has not taken any loans from banks/financial institutions and hence clause ofdefault is not applicable.

(ix) whether the company has defaulted in repayment of loans or other borrowings or inthe payment of interest thereon to any lender Not applicable.

(x) On the basis of our examination of records and according to the information andexplanations given to us the Company has not raised any money by way of public offer(including debt instruments) or by way of term loan during the year and hence the clauserelating to application of funds is not applicable.

(xi) In our opinion and according to the information and explanations given to us nofraud by the Company or on the Company by its officers/employees has been noticed orreported during the year that causes the Standalone Ind As financial statements materiallymisstated.

(xii) The Company is not a Nidhi Company. Therefore clause (xii) of paragraph 3 of thesaid order is not applicable to the Company.

(xiii) According to the information and explanations given to us and based on ourexamination of the records of the Company transactions with the related parties are incompliance with sections 177 and 188 of the Act where applicable and details of suchtransactions have been disclosed in the Standalone Ind As financial statements as requiredby the applicable accounting standards.

(xiv) whether the company has an internal audit system commensurate with the size andnature of its business Not Applicable.

(xv) On the basis of our examination of records and according to the information andexplanations given to us the Company has not entered into any non-cash transactions withdirectors or persons connected with them during the year under the provisions of section192 of the Act. Therefore clause (xv) of paragraph 3 of the said order is not applicableto the Company.

(xvi) On the basis of our examination of records and according to the information andexplanations given to us the Company is not required to be registered under section 45-IAof the Reserve Bank of India Act 1934.

(xvii) whether the Company has incurred cash losses in the Financial Year and in theimmediately preceding Financial year Not Applicable.

(xviii) whether there has been any resignation of the statutory auditors during theyear Not Applicable

(xix) on the basis of the financial ratios ageing and expected dates of realization offinancial assets and payment of financial liabilities other information accompanying thefinancial statements the auditor's knowledge of the Board of Directors and managementplans whether the auditor is of the opinion that no material uncertainty exists as on thedate of the audit report that company is capable of meeting its liabilities existing atthe date of balance sheet as and when they fall due within a period of one year from thebalance sheet date.

(xx) whether in respect of other than ongoing projects the company has transferredunspent amount to a Fund specified in Schedule VII to the Companies Act within a period ofsix months of the expiry of the financial year in compliance with second proviso tosub-section (5) of section 135 of the said Act Not Applicable

(xxi) whether there have been any qualifications or adverse remarks by the respectiveauditors in the Companies (Auditor's Report) Order (CARO) reports of the companiesincluded in the consolidated financial statements Not Applicable

ANNEXURE B" TO THE INDEPENDENT AUDITOR'S

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 KLKELECTRICAL LIMITED ("the Company") as of March 31 2022 in conjunction with ouraudit of the Standalone Ind As financial statements of the Company for the year ended onthat 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. These responsibilities includethe design implementation and maintenance of adequate internal financial controls thatwere operating effectively for ensuring the orderly and efficient conduct of its businessincluding adherence to Company's policies the safeguarding of its assets the preventionand detection of frauds and errors the accuracy and completeness of the accountingrecords and the timely preparation of reliable financial information as required underthe 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 to the extent applicable toan audit of internal financial controls both issued by the Institute of CharteredAccountants of India. Those Standards and the Guidance Note require that we comply withethical requirements and plan and perform the audit to obtain reasonable assurance aboutwhether adequate internal financial controls over financial reporting were established andmaintained and if such controls operated effectively 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 over financial reporting includes those policiesand procedures that;

a) pertain to the maintenance of records that in reasonable detail accurately andfairly reflect the transactions and dispositions of the assets of the company;

b) provide reasonable assurance that transactions are recorded as necessary to permitpreparation of Standalone Ind As financial statements in accordance with generallyaccepted accounting principles and that receipts and expenditures of the company arebeing made only in accordance with authorizations of management and directors of thecompany; and

c) provide reasonable assurance regarding prevention or timely detection ofunauthorized acquisition use or disposition of the company's assets that could have amaterial effect on the Standalone Ind 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 any evaluation 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 controlsover financial reporting were operating effectively as at March 31 2022 based on theinternal control over financial reporting criteria established by the Company consideringthe essential components of internal control stated in the Guidance Note on Audit ofInternal Financial Controls Over Financial Reporting issued by the Institute of CharteredAccountants of India.

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