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M P Agro Industries Ltd.

BSE: 506543 Sector: Agri and agri inputs
NSE: N.A. ISIN Code: INE468C01017
BSE 00:00 | 02 Apr 4.95 0
(0.00%)
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4.95

HIGH

4.95

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4.95

NSE 05:30 | 01 Jan M P Agro Industries Ltd
OPEN 4.95
PREVIOUS CLOSE 4.95
VOLUME 157
52-Week high 4.95
52-Week low 4.28
P/E 247.50
Mkt Cap.(Rs cr) 3
Buy Price 0.00
Buy Qty 0.00
Sell Price 4.95
Sell Qty 143.00
OPEN 4.95
CLOSE 4.95
VOLUME 157
52-Week high 4.95
52-Week low 4.28
P/E 247.50
Mkt Cap.(Rs cr) 3
Buy Price 0.00
Buy Qty 0.00
Sell Price 4.95
Sell Qty 143.00

M P Agro Industries Ltd. (MPAGROINDS) - Auditors Report

Company auditors report

To THE MEMBERS M P AGRO INDUSTRIES LIMITED VADODARA

Report on the Financial Statements

We have audited the accompanying financial statements of M P Agro Industries Limited("the Company") which comprise the Balance Sheet as at March 31 2018the Profit and Loss Statement and Cash Flow Statement for the yearthen endedand a summaryof significant accounting policies and other explanatory information.

Management's Responsibility for the Financial Statements

The Company's Board of Directorsis responsible for the matters stated in Section 134(5)of the Companies Act 2013 ("the Act") with respect to the preparation of thesestandalone financialstatements that give a true and fair view of the financial positionfinancial performance and cashflowsof the Company in accordance with the accountingprinciples generally accepted in India including the Accounting Standards specified underSection 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014. Thisresponsibility also includes maintenance of adequate accounting records inaccordance withthe provisions of the Act for safeguarding of the assets of the Company and forpreventingand detecting frauds and other irregularities; selection and application ofappropriateaccounting policies; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of adequate internal financialcontrols that were operatingeffectively for ensuring the accuracy and completeness of theaccounting records relevant to thepreparation and presentation of the financialstatements that give a true and fair view and are free frommaterial misstatement whetherdue to fraud or error.

Auditors' Responsibility

Our responsibility is to express an opinion onthese financial statements based on ouraudit. We conducted our audit in accordance with the Standards on Auditing issued by theInstitute of Chartered Accountants of India.We have taken into account the provisions ofthe Act the accounting and auditingstandards and matters which are required to beincluded in the audit report under the provisions of the Act and theRules madethereunder.Those Standards require that we comply with ethical requirements and plan andperform the audit to obtain reasonable assurance about whether the financial statementsare free from material misstatements.

An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the financial statements. The procedures selected depend on the auditors'judgment including the assessment of the risks of material misstatement of the financialstatements whether due to fraud or error. In making those risk assessments the auditorconsiders internal control relevant to the Company's preparation and fair presentation ofthe financial statements in order to design audit procedures that are appropriate in thecircumstancesbut not for the purpose of expressing an opinion on the effectiveness of theentity's internal control.An audit also includes evaluating the appropriateness ofaccounting policies used and the reasonableness of the accounting estimates made bymanagement as well as evaluating the overall presentation of the financial statements.

We believe that the auditevidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion.

Opinion:

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid financial statements give the information required by the Actin the manner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India: (a) In the case of the Balance Sheet ofthe state of affairsof the Company as at March 312018; (b) In the case of theProfit and Loss Statement of theprofitfor the year ended on that date; and (c) Inthe case of the Cash Flow Statement of the cash flows for 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 we givein the Annexure a statement on the matters specified in paragraphs 3 and 4 of the Order.

2. Asrequired by Section 143(3) of the Act we report that: a) We have obtained all theinformation and explanations which to the best of our Knowledge and belief were necessaryfor the purpose of our audit; b) In our opinion proper books of account as required bylawhave been kept by the Company so far asappears from our examination of those books. c) TheBalance Sheet theProfit and LossStatementand Cash Flow Statementdealt with by this Reportarein agreement with the books of account. d) In our opinion theBalance Sheet the Profitand Loss Statement and Cash Flow Statement comply with the Accounting Standards referredto in section 133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014. e)On the basis of the written representations receivedfrom the directors as on March 312018 taken on record by the Board of Directors none of the directors is disqualified ason March 31 2018 from being appointed as a director in terms of Section 164(2) of theAct. f) On the basis of the management's in depth involvement in the day to day affairs ofthe business transactions of the Company and looking to the size and volume of operationsand based on the information and explanations provided to us on the functioning of theaffairs of business we are of the opinion that the existing controls hardly suffer fromsignificant material weaknesses and the existence of checks and controls act as deterrentto material misstatements frauds and massive errors and adequate internal financialcontrols system operateover financial reporting system which serves the purpose laid downin Sec.143 of the Companies Act 2013.

g) In our opinion and to the best of our information and according to the explanationsgiven to us we report as under with respect to other matters tobe included in theAuditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules2014: i. The Company does not have any pending litigations which would impact itsfinancial position ii. The Company did not have any long-term contracts includingderivative contracts; as such the question of commenting on any material foreseeablelosses thereon does not arise iii. There has not been an occasion in case of the Companyduring the year under report to transfer any sums to the Investor Education and ProtectionFund. The question of delay in transferring such sums does not arise.

For PARIKH SHAH CHOTALIA & ASSOCIATES
CHARTERED ACCOUNTANTS
Firm Reg. No. 118493W
CA VIJAY M.PARIKH(Mem. No. 031773)
VADODARA29thMay 2018 PARTNER

ANNEXURE REFERRED TO IN PARAGRAPH 2 OF OUR AUDITORS' REPORT OF EVEN DATE ON THEFINANCIAL STATEMENTS FOR THE YEAR ENDED31STMARCH 2018OFM P AGRO INDUSTRIESLIMITED

On the basis of such checks as we considered appropriate and in terms of theinformation and explanations given to us we state that:-

I. Fixed Assets

(a) The Company has maintained proper records showing particulars includingquantitative details and situation of fixed assets.

(b)As explained to us fixed assets according to the practiceof the Company arephysically verified by the management at reasonable intervals in a phasedverification-programme which in our opinion is reasonable looking to the size of theCompany and the nature of its business. (c)According to the information and explanationgiven to us the title deedsof immovable properties of the Company are held in the name ofthe company.

II. Inventory

Since there has been no business operation in the Company there has been no inventory.

III. Loans and Advances

According to the information and explanations given to us the Company has not grantedany loans secured or unsecured to any party covered u/s189 of the Companies Act 2013during the year under report. Consequently no comments are necessary on Para (iii)(a)& (b) of CARO 2016.

IV. Loans Advances and Guarantees ln our opinion and according to the informationand explanations given to us the Company has complied with the provisions of Section 185and 186 of the Companies Act 2013 in respect of loans investments guarantees andsecurity.

V. Deposits from Public

In our opinion and according to the information and explanations given to us theCompany has not accepted any deposit to which the provisions of Section 73 to 76 of theCompanies Act 2013 and Rules made there under and also the directives of Reserve Bank ofIndia apply.

VI. Cost Records

In our opinion and according to the information and explanations given to us themaintenance of cost records pursuant to the Rules made by the Central Government underSection 148(1) of the Companies Act 2013 do not apply to the Company.

VII. Payment of Statutory Dues

According to the records of the Company it has been regular in depositing undisputedstatutory dues including Income tax and other Statutory Dues and there are no arrearsoutstanding as at year end for a period of more than six months from the date they becamepayable.

VIII. Default in payments of dues

On the basis of records examinedby us and the information and explanations given to usthe Company has borrowed any amount for which scheduled repayment is required. The Companyhas also not issued any debentures.

IX. Term Loans

During the year under reference Company has not borrowed any amount by way of TermLoan. The Company has also not raised any money by way of public offer or further publicoffer.

X. Frauds

According to the information and explanations given to us and to the best of ourknowledge and belief no fraud by the Companyor by its officers or employees has beennoticed or reported during the year.

XI. Managerial remuneration

According to the information and explanations given to us and based on our examinationof the records of the company managerial remuneration has been paid or provided forduring the year as per the provisions of section 197 read with Schedule V to the CompaniesAct 2013.

XII. Nidhi Company

The Company is not a Nidhi Company. Therefore the provisions of clause3 (xii) of theCompanies (Auditor's Report) Order 2016 are not applicable to the Company.

XIII. Related Party Transactions: ln our opinion all transactions with the relatedparties are in compliance with Section 177 and 188 of the Companies Act 2013 whereapplicable and the details have been disclosed in the Financial statements as required bythe applicable accounting standards.

XIV. Preferential Allotment/ Private Placement

According to the information and explanations given to us the Company has not madeanypreferential allotment or private placement of shares or fully or partly convertibledebentures during the year under review and therefore the provisions of Section 42 of theCompanies Act 2013 are not applicable to the Company.

XV. Non Cash Transaction ln our opinion and according to the information andexplanations given to us the Company has not entered into any non-cash transactions withdirectors or persons connected with the Directors.

XVI. Registration under RBI Act

The Company is not required tobe registered under Section 45-lA of the Reserve Bank ofIndia Act 1934.

For PARIKH SHAH CHOTALIA & ASSOCIATES
CHARTERED ACCOUNTANTS
Firm Reg. No. 118493W
CA VIJAY M. PARIKH(Mem. No. 031773)
VADODARA29thMay 2018 PARTNER