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Rudra Global Infra Products Ltd.

BSE: 539226 Sector: Metals & Mining
NSE: N.A. ISIN Code: INE027T01015
BSE 09:30 | 01 Feb 84.85 1.90
(2.29%)
OPEN

83.05

HIGH

84.85

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82.95

NSE 05:30 | 01 Jan Rudra Global Infra Products Ltd
OPEN 83.05
PREVIOUS CLOSE 82.95
VOLUME 201
52-Week high 131.60
52-Week low 28.25
P/E 16.77
Mkt Cap.(Rs cr) 213
Buy Price 82.35
Buy Qty 137.00
Sell Price 83.85
Sell Qty 7.00
OPEN 83.05
CLOSE 82.95
VOLUME 201
52-Week high 131.60
52-Week low 28.25
P/E 16.77
Mkt Cap.(Rs cr) 213
Buy Price 82.35
Buy Qty 137.00
Sell Price 83.85
Sell Qty 7.00

Rudra Global Infra Products Ltd. (RUDRAGLOBAL) - Auditors Report

Company auditors report

To

The Members

Rudra Global Infra Products Limited

Report on the Audit of the Standalone Financial Statements Opinion

We have audited standalone financial statements of Rudra GlobalInfra Products Limited ("the company") which comprise the Balance Sheet asat 31st March 2022 the Statement of Profit and Loss (including otherComprehensive Income) the Statement in Changes in Equity and the Cash Flow Statement forthe year then ended and notes to the financial statement including a summary ofsignificant accounting policies and other explanatory information (hereinafter referred toas "the standalone financial statement").

In our opinion and to the best of our information and according to theexplanations given to us the aforesaid financial statements give the information requiredby the Act in manner so required and give a true and fair view in conformity with theIndian Accounting Standards prescribed under section 133 of the Act read with theCompanies (Indian Accounting Standards) Rules 2015 as amended ("Ind AS") andother accounting principles generally accepted in india of the state of affairs of thecompany as at 31st March 2022 and profit and total comprehensive incomechange in equity and its cash flows for the year ended on that date.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing(SAs) specified under section 143(10) of the Companies Act 2013. Our responsibilitiesunder those Standards are further described in the Auditor's Responsibilities for theAudit of the Financial Statements section of our report. We are independent of the Companyin accordance with the Code of Ethics issued by the Institute of Chartered Accountants ofIndia together with the ethical requirements that are relevant to our audit of thefinancial statements under the provisions of the Companies Act 2013 and the Rulesthereunder and we have fulfilled our other ethical responsibilities in accordance withthese requirements and the Code of Ethics. We believe that the audit evidence we haveobtained is sufficient and appropriate to provide a basis for our opinion.

Key Audit Matters

Key audit matters are those matters that in our professional judgmentwere of most significance in our audit of the standalone Ind AS financial statements ofthe current period. These matters were addressed in the context of our audit of thestandalone Ind AS financial statements as a whole and in forming our opinion thereon andwe do not provide a separate opinion on these matters.

Information Other than the Financial Statements and Auditor's ReportThereon

The Company's Board of Directors is responsible for the otherinformation. The other information comprises the information included in the ManagementDiscussion and Analysis Board's Report including Annexures to Board's Report BusinessResponsibility Report Corporate Governance and Shareholder's

Our opinion on the standalone financial statements does not cover theother information and we do not express any form of assurance conclusion thereon. Inconnection with our audit of the standalone financial statements our responsibility is toread the other information and in doing so consider whether the other information ismaterially inconsistent with the standalone financial statements or our knowledge obtainedduring the course of our audit or otherwise appears to be materially misstated.

If based on the work we have performed we conclude that there is amaterial misstatement of this other information; we are required to report that fact. Wehave nothing to report in this regard.

Management's Responsibility for the Standalone Financial Statements

The Company's Board of Directors is responsible for the matters statedin section 134(5) of the Companies Act 2013 ("the Act") with respect to thepreparation and presentation of these financial statements that give a true and fair viewof the financial position financial performance and cash flows of the Company inaccordance with the accounting principles generally accepted in India including theAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014. This responsibility also includes the maintenance ofadequate accounting records in accordance with the provision of the Act for safeguardingof the assets of the Company and for preventing and detecting the frauds and otherirregularities; selection and application of appropriate accounting policies; makingjudgments and estimates that are reasonable and prudent; and design implementation andmaintenance of adequate internal financial control that were operating effectively forensuring the accuracy and completeness of the accounting records relevant to thepreparation and presentation of the financial statements that give a true and fair viewand are free from material misstatement whether due to fraud or error.

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

Those Board of Directors are also responsible for overseeing theCompany's financial reporting process.

Auditor's Responsibility

Our objectives are to obtain reasonable assurance about whether thefinancial statements as a whole are free from material misstatement whether due to fraudor error and to issue an auditor's report that includes our opinion. Reasonable assuranceis a high level of assurance but is not a guarantee that an audit conducted in accordancewith SAs will always detect a material misstatement when it exists. Misstatements canarise from fraud or error and are considered material if individually or in theaggregate they could reasonably be expected to influence the economic decisions of userstaken on the basis of these financial statements.

As part of an audit in accordance with SAs we exercise professionaljudgment and maintain professional scepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of thefinancial statements whether due to fraud or error design and perform audit proceduresresponsive to those risks and obtain audit evidence that is sufficient and appropriate toprovide a basis for our opinion. The risk of not detecting a material misstatementresulting from fraud is higher than for one resulting from error as fraud may involvecollusion forgery intentional omissions misrepresentations or the override of internalcontrol.

• Obtain an understanding of internal financial control relevantto the audit in order to design audit procedures that are appropriate in thecircumstances. Under section 143(3)(i) of the Companies Act 2013 we are also responsiblefor expressing our opinion on whether the company has adequate internal financial controlssystem in place and the operating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and thereasonableness of accounting estimates and related disclosures made by management.

• Conclude on the appropriateness of management's use of the goingconcern basis of accounting and based on the audit evidence obtained whether a materialuncertainty exists related to events or conditions that may cast significant doubt on theCompany's ability to continue as a going concern. If we conclude that a materialuncertainty exists we are required to draw attention in our auditor's report to therelated disclosures in the financial statements or if such disclosures are inadequate tomodify our opinion. Our conclusions are based on the audit evidence obtained up to thedate of our auditor's report. However future events or conditions may cause the Companyto cease to continue as a going concern.

• Evaluate the overall presentation structure and content of thestandalone financial statements including the disclosures and whether the standalonefinancial statements represent the underlying transactions and events in a manner thatachieves fair presentation.

Materiality is the magnitude of misstatements in the standalonefinancial statements that individually or in aggregate makes it probable that theeconomic decisions of a reasonably knowledgeable user of the financial statements may beinfluenced. We consider quantitative materiality and qualitative factors in (i) planningthe scope of our audit work and evaluating the results of our work; and (ii) to evaluatethe effect of any identified misstatements in the financial statement.

We communicate with those charged with governance regarding amongother matters the planned scope and timing of the audit and significant audit findingsincluding any significant deficiencies in internal control that we identify during ouraudit.

We also provide those charged with governance with a statement that wehave complied with relevant ethical requirements regarding independence and tocommunicate with them all relationships and other matters that may reasonably be thoughtto bear on our independence and where applicable related safeguards.

From the matters communicated with those charged with governance wedetermine those matters that were of most significance in the audit of the financialstatements of the current period and are therefore the key audit matters. We describethese matters in our auditor's report unless law or regulation precludes public disclosureabout the matter or when in extremely rare circumstances we determine that a mattershould not be communicated in our report because the adverse consequences of doing sowould reasonably be expected to outweigh the public interest benefits of suchcommunication.

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 explanationswhich to the best of our knowledge and belief were necessary for the purposes of ouraudit.

b) In our opinion proper books of account as required by law have beenkept by the Company so far as it appears from our examination of those books.

c) The Balance Sheet the Statement of Profit and Loss including OtherComprehensive Income Statement of Changes in Equity and the Cash Flow statement dealtwith by this Report are in agreement with the books of account.

d) In our opinion the aforesaid financial statements comply with theInd AS specified under Section 133 of the Act.

e) On the basis of written representations received from the directorsas on 31st March 2022 taken on record by the Board of Directors none of thedirectors is disqualified as on 31st March 2022 from being appointed as adirector in terms of Section 164(2) of the Act.

f) With respect to the adequacy of the internal financial controls overfinancial reporting of the Company and the operating effectiveness of such controls referto our separate report in "Annexure A". Our report expresses an unmodifiedopinion on the adequacy and operating effectiveness of the Company's internal financialcontrols over financial reporting.

g) In our opinion and to the best of our information and according tothe explanations given to us we report as under with respect to other matters to beincluded in the Auditor's Report in accordance with Rule 11 of the Companies (Audit andAuditors) Rules 2014:

i. The Company has disclosed the impact of pending litigations on itsfinancial position in its Ind AS financial statements.

ii. The Company has made provision as required under the applicablelaw or accounting standards for material foreseeable losses if any on long termcontracts including derivative contracts;

iii. There were no amounts which required to be transferred by theCompany to the Investor Education and Protection Fund.

iv. (i) The management has represented that to the best of itsknowledge and belief other than as disclosed in the notes to the accounts no funds havebeen advanced or loaned or invested (either from borrowed funds or share premium or anyother sources or kind of funds) by the company to or in any other person(s) orentity(ies) including foreign entities ("Intermediaries") with theunderstanding whether recorded in writing or otherwise that the Intermediary shallwhether directly or indirectly lend or invest in other persons or entities identified inany manner whatsoever by or on behalf of the company ("Ultimate Beneficiaries")or provide any guarantee security or the like on behalf of the Ultimate Beneficiaries;

(ii) The management has represented that to the best of its knowledgeand belief other than as disclosed in the notes to the accounts no funds have beenreceived by the company from any person(s) or entity(ies) including foreign entities("Funding Parties") with the understanding whether recorded in writing orotherwise that the company shall whether directly or indirectly lend or invest inother persons or entities identified in any manner whatsoever by or on behalf of theFunding Party ("Ultimate Beneficiaries") or provide any guarantee security orthe like on behalf of the Ultimate Beneficiaries and

(iii) As per the information and explanation provided to us therepresentation under sub clause (i) and (ii) is not contained any material misstatement.

v. The company has not declared or paid any dividend during the yearunder audit.

2. As required by the Companies (Auditor's Report) Order 2020("the Order") issued by the Central Government of India in terms of sub-section(11) of section 143 of the Act we give in the "Annexure B" a statement on thematters Specified in paragraphs 3 and 4 of the Order.

ANNAEXURE "A" TO THE INDEPENDENT AUDITOR'S REPORT

(Referred to in paragraph 1(f) under 'Report on Other Legal andRegulatory Requirements' section of our report to the Members of Rudra Global InfraProducts Limited of even date)

Report on the Internal Financial Controls over Financial Reportingunder Clause (i) of Sub - section 3 of Section 143 of the Companies Act 2013 ("theAct")

We have audited the internal financial controls over financialreporting of Rudra Global Infra Products Limited as of 31st March 2022 in conjunctionwith our audit of the standalone financial statements of the Company for the year ended onthat date.

Management's Responsibility for Internal Financial Controls

The Board of Directors of the Company is responsible for establishingand maintaining internal financial controls based on the internal control over financialreporting criteria established by the Company considering the essential components ofinternal control stated in the Guidance Note on Audit of Internal Financial Controls overFinancial Reporting issued by the Institute of Chartered Accountants of India('ICAI').These responsibilities include the design implementation and maintenance ofadequate internal financial controls that were operating effectively for ensuring theorderly and efficient conduct of its business including adherence to company's policiesthe safeguarding 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.

Auditors' Responsibility

Our responsibility is to express an opinion on the Company's internalfinancial controls over financial reporting based on our audit. We conducted our audit inaccordance with the Guidance Note on Audit of Internal Financial Controls over FinancialReporting (the "Guidance Note") and the Standards on Auditing issued by ICAIand deemed to be prescribed under section 143(10) of the Companies Act 2013 to theextent applicable to an audit of internal financial controls both applicable to an auditof Internal Financial Controls and both issued by the Institute of Chartered Accountantsof India. Those Standards and the Guidance Note require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetheradequate internal financial controls over financial reporting was established andmaintained and if such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence aboutthe adequacy 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 control based on the assessed risk. Theprocedures selected depend on the auditor's judgment including the assessment of therisks of material misstatement of the financial statements whether due to fraud 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 internal financialcontrols system over financial reporting.

Meaning of Internal Financial Controls over Financial Reporting

A company's internal financial control over financial reporting is aprocess designed to provide reasonable assurance regarding the reliability of financialreporting and the preparation of financial statements for external purposes in accordancewith generally 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 authorizationsmanagement and directors of the company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorized acquisition use or disposition of thecompany's assets that could have a material effect on the financial statements.

Limitations of Internal Financial Controls over Financial Reporting

Because of the inherent limitations of internal financial controls overfinancial reporting including the possibility of collusion or improper managementoverride of controls material misstatements due to error or fraud may occur and not bedetected. Also projections of any evaluation of the internal financial controls overfinancial reporting to future periods are subject to the risk that the internal financialcontrol over financial reporting may become inadequate because of changes in conditionsor that the degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion to the best of our information and according to theexplanations given to us 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 31st March 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.

ANNAEXURE "B" TO THE INDEPENDENT AUDITOR'S REPORT

(Referred to in paragraph 2 under 'Report on Other Legal and RegulatoryRequirements' section of our report to the Members of Rudra Global Infra Products Limitedof even date)

i. In respect of company's fixed assets:

a. The Company has maintained proper records showing full particularsincluding quantitative details and situation of fixed assets.

b. The Company has a program of verification to cover all the items offixed assets in phased manner which in our opinion is reasonably having regard to thesize of the Company and the nature of its assets. Pursuant to the program certain fixedassets were physically verified by the management during the year. According toinformation and explanations given to us by the management no material discrepancy wasnoticed on such verification.

c. According to information and explanations given by the managementthe title deeds of immovable properties included under tangible fixed assets are held inthe name of the Company.

d. According to the information and explanations provided to us thecompany has not revalued any Property Plant and Equipment or intangible asset or bothduring the year.

e. There has been no proceedings initiated or are pending against thecompany for holding any benami property under the Benami Transactions (Prohibition) Act1988 and rules made thereunder.

ii. a) We have been informed that inventories have been physicallyverified by the management at reasonable intervals. In our opinion the frequency ofverification is reasonable with regard to the size of company. According to informationand explanations given to us by the management no material discrepancy was noticed onsuch verification.

b) the company has sanctioned working capital limits in excess of fivecrores rupees in aggregate from Punjab National Bank of the basis of security ofhypothecation of stocks and book debts of the company. The quarterly returns or statementsfiled by the company with Punjab National Bank are in agreement with the books of accountof the Company.

iii. The Company has not made investments in provided any guarantee orsecurity or granted any loans or advances in the nature of loans secured or unsecured tocompanies firms Limited Liability Partnerships or any other parties.

iv. According to the information and explanations given to us theCompany has not granted loans and made any investments or provided any guarantee orsecurity to the parties covered under section 185 and 186. Accordingly paragraph 3(iv) ofthe Order is not applicable.

v. According to the information and explanation given to us thecompany has not accepted the any deposits and does not have any unclaimed deposits as at31st March 2022 and therefore the provisions of the clause 3(v) of the Orderare not applicable to the company.

vi. The maintenance of cost records has not been specified by theCentral Government under section 148(1) of the Companies Act 2013 for the businessactivities carried out by the company. Thus reporting under clause 3(vi) of the order isnot applicable to the company.

vii. (a) According to the information and explanation given to us thecompany has generally been regular in depositing undisputed statutory dues includingProvident Fund Employees' State Insurance Sales Tax

Goods & Service Tax Duty of Customs Cess and any other statutorydues applicable to it with appropriate authorities and no such undisputed amounts were inarrears for a period of more than six months from the date they became payable exceptprofessional tax of employees.

According to the information and explanation given to us undisputedamounts payable in respect of Provident Fund were in arrears as at 31st March2022 for a period of more than six months from the date they became payable details ofwhich are as under:

Statement of Arrears of Statutory Dues outstanding as at 31stMarch 2022 for a period of more than six months from the date they became payable

Name of the Statute Nature of Dues Amount (^) Period to which the Amount relates Due Date Date of Payment Remarks if any
Professional Tax Professional Tax 984622 F.Y. 18-19 F.Y. 19-20 F.Y. 20-21 & F.Y. 21-22 Various Unpaid

(b) As per the information and explanation given to us there are nodisputed dues outstanding on account of Provident Fund Employees' State InsuranceIncome-tax Sales Tax Duty of Customs Cess and any other statutory dues except

- Integrated Goods & Service Tax of Rs. 152929558 as per Showcause Notice issued by DGGI Jaipur. (Rs. 76500000 already paid under protest)

- Central Goods & Service Tax and State Goods & Service Taxof Rs. 152293 each the order of which is pending against Appellate Authority.

viii. According to the information and explanation given to us thereare no transactions which has been surrendered or disclosed as income during the year inthe tax assessments under the Income Tax Act 1961.

ix. (a) According to the records made available to us and informationand explanation given to us by the management in our opinion the company has notdefaulted in repayment of dues to a bank or financial institution.

(b) the company has not been declared wilful defaulter by any bank offinancial institution.

(c) According to the records made available to us the term loans wereapplied for the purpose for which the loans were obtained.

(d) No funds have been raised on short term basis by the company. Thusthe reporting under clause 3(ix)(d) of order is not applicable.

(e) According to the information and explanation given to us thecompany has not raised any loans during the year on the pledge of securities held in itssubsidiary.

x. According to the information and explanation given to us and basedon our examination of the records of the company the company has not raised money by wayof initial public offer of further public offer during the year.

xi. (a) According to the information and explanation given to us nofraud by the company or no material fraud on the company by its officers or employees hasbeen noticed or reported during course of our audit.

(b) According to the information and explanation given to us no reporthas been filed by the auditors in Form ADT-4 as prescribed under rule 13 of Companies(Audit and Auditors) Rules 2014 with the Central Government.

(c) The company has not received any whistle-blower complaints duringthe year. So the clause 3(xi)(c) of the order is not applicable.

xii. According to the information and explanation given to us thecompany is not a nidhi company hence clause 3(xii) of companies (auditor's Report) order2020 is not applicable.

xiii. According to the information and explanation given to us andbased on our examination of the records of the company all transactions with the relatedparties are in compliance with sections 177 and 188 of Companies Act 2013 whereapplicable and the details have been disclosed in the Financial Statements as required bythe applicable accounting standards.

xiv. The company have an internal audit system. The reports of internalauditors have been considered by us.

xv. According to the information and explanation given to us and basedon our examination of the records of the company the company has not entered into anynon-cash transactions with directors or persons connected with him. So the clause 3(xv) ofthe companies (auditor's Report) order 2020 is not applicable.

xvi. The company is not required to be registered under section 45-IAof the Reserve Bank of India 1934.

xvii. According to the information and explanation given to us andbased on our examination of the records of the company the company has not incurred cashlosses in the financial year and in the immediately preceding financial year.

xviii. Based on our examination of the records of the company therehas not been any resignation of the statutory auditors during the year. Hence clause 3(xviii) of companies (auditor's Report) order 2020 is not applicable.

xix. On the basis of the financial ratios ageing and expected dates ofrealisation of financial assets and payment of financial liabilities other informationaccompanying the financial statements the auditor's knowledge of the Board of Directorsand management plans there is no material uncertainty exists as on the date of the auditreport that company is capable of meeting its liabilities existing at the date of balancesheet as and when they fall due within a period of one year from the balance sheet date.

xx. As per the information and explanation given to us the provisionsof Section 135 of Companies Act 2013 is not applicable to the company hence the reportingunder clause 3(xx) of the Companies (auditor's report) Order 2020 is not applicable.

Date :30/05/2022 For S D P M & Co.
Place : Ahmedabad Chartered Accountants
Malay Pandit
Partner
M.No. 046482
FRN : 126741W
UDIN: 22046482AKGVOY4069

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