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Mardia Samyoung Capillary Tubes Company Ltd.

BSE: 513544 Sector: Metals & Mining
NSE: N.A. ISIN Code: INE277E01026
BSE 00:00 | 07 Jun Mardia Samyoung Capillary Tubes Company Ltd
NSE 05:30 | 01 Jan Mardia Samyoung Capillary Tubes Company Ltd
OPEN 2.27
PREVIOUS CLOSE 2.27
VOLUME 13
52-Week high 2.27
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 2
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 2.27
CLOSE 2.27
VOLUME 13
52-Week high 2.27
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 2
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Mardia Samyoung Capillary Tubes Company Ltd. (MARDIASAMYOUNG) - Auditors Report

Company auditors report

TO THE MEMBERS OF MARDIA SAMYOUNG CAPILLARY TUBES Co. LTD.

Report on the Standalone Financial Statements

We have audited the accompanying standalone financial statements of MARDIA SAMYOUNGCAPILLARY TUBES CO. LTD. ("the Company") which comprise the Balance Sheet as at31 March 2022 the Statement of Profit and Loss Statement of Changes in Equity and theStatement of Cash Flows for the year then ended including a summary of the significantaccounting policies and other explanatory information.

Management’s Responsibility for the Standalone 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 financial statements that give a true and fair view of the financialposition financial performance including other comprehensive income cash flows andchanges in equity of the Company in accordance with the Indian Accounting Standards (IndAS) prescribed under section 133 of the Act read with the Companies (Indian AccountingStandards) Rules 2015 as amended and other accounting principles generally accepted inIndia.

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 of theaccounting records relevant to the preparation and presentation of the standalonefinancial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

In preparing the financial statements management is responsible for assessing theCompany’s ability to continue as a going concern disclosing as applicable mattersrelated to going concern and using the going concern basis of accounting unless managementeither intends to liquidate the Company op^ to cease operations or has no realisticalternative but to do so.

Auditor’s Responsibility

Our responsibility is to express an opinion on these standalone financial statementsbased on our audit. In conducting our audit we have taken into account the provisions ofthe Act the accounting and auditing standards and matters which are required to beincluded in the audit report under the provisions of the Act and the Rules made thereunder and the Order issued under section 143(11) of the Act.

We conducted our audit of the standalone financial statements in accordance with theStandards on Auditing specified under Section 143(10) of the Act. Those Standards requirethat we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether the standalone financial statements are free frommaterial misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures in the standalone financial statements. The procedures selected depend onthe auditor’s judgement including the assessment of the risks of materialmisstatement of the standalone financial statements whether due to fraud or error. Inmaking those risk assessments the auditor considers internal financial control relevantto the Company’s preparation of the standalone financial statements that give a trueand 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 theCompany’s Directors as well as evaluating the overall presentation of the standalonefinancial statements. We are also responsible to conclude on the appropriateness ofmanagement’s use of the going concern basis of accounting and based on the auditevidence obtained whether a material uncertainty exists related to events or conditionsthat may cast significant doubt on the entity’s ability to continue as a goingconcern. If we conclude that a material uncertainty exists we are required to drawattention in the auditor’s report to the related disclosures in the financialstatements or if such disclosures are inadequate to modify the opinion. Our conclusionsare based on the audit evidence obtained up to the date of the auditor’s report.However future events or conditions may cause an entity to cease to continue as a goingconcern.

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

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone financial statements give the information requiredby the Act in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India including the of the state of affairsof the Company as at 31 March 2022 its Profit changes in equity and its cash flows forthe year ended on that date.

Report on Other Legal and Regulatory Requirements

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 relevant books of account maintained for the purpose ofpreparation of the standalone financial statements.

d) In our opinion the aforesaid standalone financial statements comply with the IndianAccounting Standards prescribed under section 133 of the Act.

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

0 With respect to the adequacy of the internal financial controls with reference tofinancial statements of the Company and the operating effectiveness of such controlsrefer to our separate Report in "Annexure B".

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 financial statements; - Refer Note 1 on SIGNIFICANT ACCOUNTING POLICIES tothe standalone financial statements.

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

iii. Company was not required to transfer any amount to investor Education andProtection Fund as required under law.

Annexure ‘A’ to the Independent Auditor’s Report - March 312022

(Referred to in our report of even date)

Report on the Internal Financial Controls Over Financial Reporting under Clause (i) ofSubsection 3 of Section 143 of the Companies Act 2013 ("the Act")

We have audited the internal Financial controls over financial reporting of MARDIASAMYOUNG CAPILLARY TUBES CO. LTD. ("the Company") as of 31 March 2022 inconjunction with our audit of the financial statements of the Company for the year endedon 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 controls over financial reporting criteriaestablished by the Company considering the essential components of internal controlsstated in the Guidance Note on Audit of Internal Financial Controls over FinancialReporting issued by the Institute of Chartered Accountants of India ("ICAI").These responsibilities include the design implementation and maintenance of adequateinternal financial controls that were operating effectively for ensuring the orderly andefficient conduct of its business including adherence to Company’s policies thesafeguarding of its assets the prevention and detection of frauds and errors theaccuracy and completeness of the accounting records and the timely preparation ofreliable financial information as required under the Companies Act 2013 ("theAct").

Auditor’s 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 issued by the ICAI anddeemed to be prescribed under section 143(10) of the Act to the extent applicable to anaudit of internal financial controls both applicable to an audit of Internal FinancialControls and both issued by the ICAI. Those Standards and the Guidance Note require thatwe comply with ethical requirements and plan and perform the audit to obtain reasonableassurance about whether adequate internal financial controls over financial reporting wasestablished and maintained and if such controls operated effectively in all materialrespects. Our audit involves performing procedures to obtain audit evidence about theadequacy of the internal financial controls system over financial reporting and theiroperating effectiveness. Our audit of internal financial controls over financial reportingincluded obtaining an understanding of internal financial controls over financialreporting assessing the risk that a material weakness exists and testing and evaluatingthe design and operating effectiveness of internal controls based on the assessed risk.The procedures selected depend on the auditor’s judgment including the assessment ofthe risks of material misstatement of the standalone financial statements whether due tofraud or error. We believe that the audit evidence we have obtained is sufficient andappropriate to provide a basis for our audit opinion on the Company’s internalfinancial controls system over financial reporting.

Meaning of Internal Financial Controls over Financial Reporting

A company’s internal financial control over financial reporting is a processdesigned to provide reasonable assurance regarding the reliability of financial reportingand the preparation of financial statements for external purposes in accordance withgenerally 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 financialstatements in accordance with generally accepted accounting principles and that receiptsand expenditures of the Company are being made only in accordance with authorisations ofmanagement and directors of the company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorised acquisition use or disposition of theCompany’s assets that could have a material effect on the 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 controlsover 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 31 March 2022 based on theinternal controls 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 ICAI.

Annexure ‘B’ to the Independent Auditor’s Report - March 312022

(Referred to in our report of even date)

(Referred to in paragraph 2 under ‘Report on Other Legal and RegulatoryRequirements’ section of our report to the Members of MARDIA SAM YOUNG CAPILLARYTUBES CO.

LTD. of even date)

i. (a) (A) The Company has maintained proper records showing full particularsincluding Quantitative details and situation of of property plant and equipment.

(B) The Company has maintained proper records showing full particulars of intangibleAssets.

(b) According to the information and explanations given to us and on the basis of ourExamination of the records of the Company the Company has a regular programme of Physicalverification of its property plant and equipment by which all property plant andEquipment are verified in a phased manner over a period of three years. In accordanceWhith This programme certain Property Plant and equipment were verified during the year.In our opinion this periodicity of Physical verification is reasonable having regard toThe Size of the company and the nature of its assets. No material discrepancies werenoticed on such verification.

(c) According to the information and explanations given to us and on the the basis ofour Examination of the records of the Company the Company has not revalued its propertyPlant and equipment (including right of use assets) or intangible assets or both duringthe Year.

(d) According to the information and explanations given to us and on the basis of ourExamination of the records of the company there are no proceedings initiated or pendingAgainst the company for holding any benami property under the prohibition of benamiProperty Transactions Act 1988 and rules made there under.

(ii) The inventory has been physically verified by the management at reasonableintervals during the year. In our opinion the frequency of such verification isreasonable. In respect of inventory lying with third parties these have beensubstantially confirmed by them The discrepancies noticed on verification between thephysical stocks and the book records were not material.

(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 Act. Accordingly paragraph 3(iii) of the Order is not applicable to theCompany.

(iv) The Company has not granted any loans to or given any guarantee or provided anysecurity in connection with any loans taken by parties covered under Section 185 of theAct. The Company has complied with the provisions of Section 186 of the Act

of investments made or guarantees provided to the parties covered under Section 186 ofthe Act. The Company has not granted any loans or provided any security to the partiescovered under Section 186 of the Act.

(v) The Company has not accepted any deposits to which the directives issued by theReserve Bank of India and the provisions of Sections 73 to 76 of the Act and the rulesframed there under apply. Accordingly paragraph 3(v) of the Order is not applicable tothe Company.

(vii) (a) According to the information and explanations given to us and the records ofthe Company examined by us in our opinion the Company is regular in depositing theundisputed statutory dues including provident fund employees state insurance income taxsales tax service tax duty of customs duty of excise goods and service tax valueadded tax cess and other material statutory dues as applicable with the appropriateauthorities. According to the information and explanations given to us no undisputedamounts payable in respect of provident fund employees state insurance income tax salestax service tax duty of customs duty of excise goods and service tax value added taxcess and other material statutory dues were in arrears as at 31 March 2022 for a period ofmore than six months from the date they became payable.

(b) According to the information and explanations given to us there are no dues ofincome tax sales tax value added tax service tax duty of customs duty of excise whichhave not been deposited with the appropriate authorities on account of any dispute.

(viii) In our opinion and according to the information and explanations given to us andbased on our examination of the records the Company has not defaulted in the repayment ofdues to banks. There are no dues to financial institutions Government or debentureholders.

(ix) According to the information and explanations given to us and based on ourexamination of the records the Company has not obtained any term Loan. The Company has notraised any money by way of initial public offer or further public offer (including debtinstruments) during the year.

(x) According to the information and explanations given to us no fraud by the Companyor on the Company by its officers or employees has been noticed or reported during thecourse of our audit.

(xi) In our Opinion & according to the Information and explanations given to usthe company has paid / provided managerial remuneration in accordance with the requisiteapprovals mandated by the provisions of section 197 read with schedule V to the Act.

(xii) In our opinion and according to the information and explanations given to us theCompany is not a Nidhi company. Accordingly paragraph 3(xii) of the Order is notapplicable.

(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. The details of relatedparty transactions have been disclosed in the standalone financial statements as requiredby applicable accounting standards.

(xiv) According to the information and explanations give to us and based on ourexamination of the records the Company has not made any preferential allotment or privateplacement of shares or fully or partly convertible debentures during the year.Accordingly paragraph 3(xiv) of the Order is not applicable to the Company.

(xv) According to the information and explanations given to us and based on ourexamination of the records the Company has not entered into non-cash transactions withdirectors or persons connected with him. Accordingly paragraph 3(xv) of the Order is notapplicable to the Company.

(xvi) (a) The Company is not required to be registered under Section 45-IA of theReserve

Bank of India Act 1934.Accordingly clauses 3 (xvi) (a) and 3(xvi)(b) of the order Arenot applicable.

(b) The Company is not a Core Investment Company (C1C) as defined in the regulationMade by the Reserve Bank of India. Accordingly Clause 3(xvi) (c) of the Order is Notapplicable.

(c) According to the information and explanation provided to us during the course ofAudit the Group does not have any CICs.

(xvii) The Company has not incurred cash losses in the current and in the immediatelyPreceding financial year.

(xviii) There has been no resignation of the statutory auditors during the year.According Clause 3 (xviii) of the order is not applicable.

(xix) According to the information and explanations given to us and on the basis of theFinancial ratios ageing and expected dates of realisation of financial assets and Paymentof financial liabilities other information accompanying the stand lone Financialstatements our knowledge of the Board Directors and management plans and Based on ourexamination of the evidence supporting the assumptions nothing has Come to ourattentionwhich causes us to believe that any material uncertainty exists as On the dateif the audit report that the company is not capable of meeting its liabilities Existing atthe date of balance sheet as and when they fall due within a period of one From thebalance sheet date. We however state that this is not an assurance as to the The futureviability of the company. We further state that our reporting is based on the Facts up tothe date of the audit report and we neither give any guarantee nor any Assurance that allliabilities falling due within a period of one year from the balance Sheet date will getdischarged by the company as and when they fall due.

(xx)In our opinion and according to the information and explanations given to us thereis no Unspent amount under sub-section (5) of section 135 of the Act pursuant to anyproject

Accordingly Clauses 3 (xx) (a) and 3(xx) (b) of the order are not applicable

For AGRAWAL & AGRAWALASSOCIATES CHARTERED ACCOUNTANTS.
(S.CAGRAWAL)
PARTNER
MNo.: 031774
FRN NO: 116653W
Date:-30/05/2022
PLACE: MUMBAI

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