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Shree Krishna Paper Mills & Industries Ltd.

BSE: 500388 Sector: Industrials
NSE: N.A. ISIN Code: INE970C01012
BSE 00:00 | 12 Jun 30.75 0
(0.00%)
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30.75

HIGH

30.75

LOW

30.75

NSE 05:30 | 01 Jan Shree Krishna Paper Mills & Industries Ltd
OPEN 30.75
PREVIOUS CLOSE 30.75
VOLUME 29
52-Week high 45.40
52-Week low 23.70
P/E
Mkt Cap.(Rs cr) 42
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 30.75
CLOSE 30.75
VOLUME 29
52-Week high 45.40
52-Week low 23.70
P/E
Mkt Cap.(Rs cr) 42
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Shree Krishna Paper Mills & Industries Ltd. (SHKRISHNAPAP) - Auditors Report

Company auditors report

To the Members of

Shree Krishna Paper Mills & Industries Limited Report on the Financial Statements

We have audited the accompanying financial statements of Shree Krishna Paper Mills& Industries Limited ("the Company") which comprise the BalanceSheet as at March 31 2017 the Statement of Profit and Loss the Cash Flow Statement forthe year then ended and a summary of the significant accounting policies and otherexplanatory information.

Management's Responsibility for the 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 financial statements that give a true and fair view of the financial positionfinancial performance and cash flows of the Company in accordance with the accountingprinciples generally accepted in India including the Accounting Standards specified underSection 133 of the Act read with relevant rules issued thereunder. This responsibilityalso includes maintenance of adequate accounting records in accordance with the provisionsof the Act for safeguarding the assets of the Company and for preventing and detectingfrauds and other irregularities; selection and application of appropriate accountingpolicies; making judgments and estimates that are reasonable and prudent; and designimplementation and maintenance of adequate internal financial controls that wereoperating effectively for ensuring the accuracy and completeness of the accountingrecords relevant to the preparation and presentation of the financial statements thatgive a true and fair view and are free from material misstatement whether due to fraud orerror.

Auditor's Responsibility

Our responsibility is to express an opinion on these financial statements based on ouraudit. We have taken into account the provisions of the Act the accounting and auditingstandards and matters which are required to be included in the audit report under theprovisions of the Act and the Rules made there under. We conducted our audit in accordancewith the 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 financial statements are free from materialmisstatement.

An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures in the financial statements. The procedures selected depend on theauditor's judgment including the assessment of the risks of material misstatement of thefinancial statements whether due to fraud or error. In making those risk assessments theauditor considers internal financial control relevant to the Company's preparation of thefinancial statements that give a true and fair view in order to design audit proceduresthat are appropriate in the circumstances. An audit also includes evaluating theappropriateness of the accounting policies used and the reasonableness of the accountingestimates made by the Company's Directors as well as evaluating the overall presentationof the financial statements.

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

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 of the state of affairs of the Company as at March31 2017 and its profit and its 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 sub-section (11) of Section 143 ofthe Act we give in the ‘Annexure A' a statement on the matters specified inparagraphs 3 and 4 of the Order.

2. As required by Section 143 (3) of the Act we report that: (a) We have sought andobtained all the information and explanations which to the best of our knowledge andbelief were necessary for the purposes of our audit. (b) In our opinion proper books ofaccount as required by law have been kept by the Company so far as it appears from ourexamination of those books.

(c) The Balance Sheet the Statement of Profit and Loss and the Cash Flow Statementdealt with this Report are in agreement with the books of account.

(d) In our opinion the aforesaid financial statements comply with the AccountingStandards specified under Section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014. (e) On the basis of the written representations received from thedirectors as on March 31 2017 taken on record by the Board of Directors none of thedirectors is disqualified as on March 31 2017 from being appointed as a director in termsof Section 164 (2) of the Act. (f) With respect to the adequacy of the internal financialcontrols over financial reporting of the Company and the operating effectiveness of suchcontrols refer 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. TheCompany has disclosed the impact of pending litigations on its financial position in itsfinancial statements – refer note no. 37 of the financial statements; ii. The Companydid not have any long-term contracts including derivative contracts for which there wereany material foreseeable losses; iii. There were no amounts which were required to betransferred to the Investor Education and Protection Fund by the Company. iv. The Companyhad provided requisite disclosures in its financial statements as to holdings as well asdealings in Specified Bank Notes during the period from November 8 2016 to December 302016 and based on audit procedures and relying on the management representation we reportthat the disclosures are in accordance with the books of accounts maintained by thecompany and as produced to us by the management. (Refer Note No. 36 to the financialstatements).

For Radheshyam Sharma & Co.
Firm Registration No. 016172N
Chartered Accountants
(CA Radheshyam Sharma)
Proprietor
Membership No. 097127
New Delhi
Date : May 30 2017