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Supra Trends Ltd.

BSE: 511539 Sector: Industrials
NSE: N.A. ISIN Code: INE533B01028
BSE 00:00 | 08 Feb 8.55 0
(0.00%)
OPEN

8.55

HIGH

8.55

LOW

8.55

NSE 05:30 | 01 Jan Supra Trends Ltd
OPEN 8.55
PREVIOUS CLOSE 8.55
VOLUME 10
52-Week high
52-Week low
P/E
Mkt Cap.(Rs cr) 0
Buy Price 8.55
Buy Qty 40.00
Sell Price 0.00
Sell Qty 0.00
OPEN 8.55
CLOSE 8.55
VOLUME 10
52-Week high
52-Week low
P/E
Mkt Cap.(Rs cr) 0
Buy Price 8.55
Buy Qty 40.00
Sell Price 0.00
Sell Qty 0.00

Supra Trends Ltd. (SUPRATRENDS) - Auditors Report

Company auditors report

To

The Board of Directors M/s. Supra Trends Limited.

1. We have audited the accompanying Financial Results of M/s Supra Trends Limited("theCompany") for the year ended March 31 2018 ("the Statement") beingsubmitted by the company pursuant to the requirement of Regulation 33 of the SEBI (ListingObligations and Disclosure Requirements) Regulations 2015 as modified by Circular No.CIR/CFD/FAC/62/2016 dated July 5 2016.

2. This Statement which is the responsibility of Company's Management and approved bythe Board of Directors has been compiled with the relatedStandalone financial statementswhich has been prepared in accordance with the Indian Accounting Standards prescribedunder Section 133 of the Companies Act 2013 read with relevant rules issued there under(‘Ind AS') and other accounting principles generally accepted in India. OurResponsibility is to express an opinion on the Statement based on our audit of suchfinancial statements.

3. We conducted our audit in accordance with the Standards on Auditing issued by theInstitute of Chartered Accountants of India. Those Standards require that we comply withethical requirements and plan and perform the audit to obtain reasonable assurance aboutwhether the statement is free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures in the Statement. The procedures selected depend on the auditor'sjudgement including the assessment of the risks of material misstatement of thestatement 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 Statement in order to design audit procedures that are appropriate in thecircumstances but not for the purpose of expressing an opinion on the effectiveness ofthe company's internal control. An audit also includes evaluating the appropriateness ofthe accounting policies used and the reasonableness of the accounting estimates made bythe Management as well as evaluating the overall presentation of the Statement.

We believe that the audit evidence obtained by us is sufficient and appropriate toprovide a basis for our audit opinion.

4. In our opinion and to the best of our information and according to the explanationsgiven to us the Statement:

(i) Is presented in accordance with the requirements of regulation 33 of the SEBI(Listing Obligations and Disclosure Requirements) Regulations 2015as modified byCircular No.CIR/CFD/FAC/62/ 2016 dated July 5 2016; and

(ii) Gives a true and fair view in conformity with the aforesaid Indian AccountingStandards and other accounting principles generally accepted in India of the net profitand total comprehensive income and other Standalone financial information of the companyfor the year ended March 31 2018.

For NSVR ASSOCIATES& LLP
Chartered Accountants
(Firm.Reg No. 008801S/S200060)
Place: Hyderabad Sd/-
Date: 30/05/2018 Rama Rao Talluri
Partner
(Membership No. 219207)

"Annexure A" to the Independent Auditors' Report

Referred to in paragraph 1 under the heading ‘Report on Other Legal &Regulatory Requirement' of our report of even date to the financial statements of theCompany for the year ended March 31 2018:

1) (a) The Company has maintained proper records showing full including quantitativedetails and situation of fixed assets;

(b) As explained to us the Fixed Assets have been physically verified by themanagement in a Periodical manner which in our opinion is reasonable having regard tothe size of the company and nature of its business. No material discrepancies were noticedon such physical verification.

(c) According to the information and explanations given to us and based on ourexamination of the records of the Company the title deeds of immovable properties areheld in the name of the Company.

2) As explained to us the physical verification of inventory has been conducted at theyear-end by the management. The discrepancies noticed on verification between the physicalstocks and book records were not material.

3) The Company has not granted any loans secured or unsecured to companies firmsLimited Liability partnerships or other parties covered in the Register maintained undersection 189 of the Act. Accordingly the provisions of clause 3 (iii) (a) to (C) of theOrder is not applicable to the Company and hence not commented upon.

4) In our opinion and according to the information and explanation given to us thecompany has not granted any loan or made investment or provided any security hence thecompliance with the provisions of section 185 / 186 of the Act does not arise.

5) 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 aboutthe deposits accepted from the public are not applicable.

6) As informed to us the maintenance of Cost Records has not been specified by theCentral Government under sub-section (1) of Section 148 of the Act in respect of theactivities carried on by the company.

7) (a) According to information and explanations given to us and based on ourexamination of the books of account and records the Company has been generally regularin depositing undisputed statutory dues including Provident Fund Employees StateInsurance Income-Tax Sales tax Service Tax Duty of Customs Duty of Excise Valueadded Tax Cess and any other statutory dues with the appropriate authorities. Accordingto the information and explanations given to us no undisputed amounts payable in respectof the above were in arrears as at March 31 2018 for a period of more than six monthsfrom the date on when they become payable.

b) According to the information and explanation given to us there are no dues ofincome tax sales tax service tax duty of customs duty of excise value added taxoutstanding because any dispute.

8) In our opinion and according to the information and explanations given to us theCompany has not defaulted in the repayment of dues to banks. The Company has not taken anyloan either from financial institutions or from the government and has not issued anydebentures.

9) Based upon the audit procedures performed and the information and explanations givenby the management the company has not raised any money by way of initial public offer orfurther public offer including debt instruments and term Loans. Accordingly theprovisions of clause 3 (ix) of the Order are not applicable to the Company and hence notcommented upon.

10) Based upon the audit procedures performed and according to the information andexplanations given by the management no fraud by the Company or on the company by itsofficers or employees was noticed or reported during the year.

11) Based upon the audit procedures performed and the information and explanationsgiven by the management there is no managerial remuneration has been paid or provided.

12) In our opinion the Company is not a Nidhi Company. Therefore the provisions ofclause 3 (xii) of the Order is not applicable to the Company.

13) In our opinion all transactions with the related parties follow section 177 and188 of Companies Act 2013 and the details have been disclosed in the Financial Statementsas required by the applicable accounting standards.

14) Based upon the audit procedures performed and the information and explanationsgiven by the management the company has not made any preferential allotment or privateplacement of shares or fully or partly convertible debentures during the year underreview. Accordingly the provisions of clause 3 (xiv) of the Order is not applicable tothe Company.

15) Based upon the audit procedures performed and the information and explanationsgiven by the management the company has not entered into any non-cash transactions withdirectors or persons connected with him. Accordingly the provisions of clause 3 (xv) ofthe Order is not applicable to the Company.

16) In our opinion the company is not required to be registered under section 45 IA ofthe Reserve Bank of India Act 1934 and accordingly the provisions of clause 3 (xvi) ofthe Order is not applicable to the Company.

"Annexure B" to the Independent Auditor's Report of even date on theFinancial Statements of Supra Trends Private Limited. Report on the Internal FinancialControls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act 2013("the Act")

We have audited the internal financial controls over financial reporting of SupraTrends Private Limited ("the Company") as of March 31 2018 in conjunction withour audit of the standalone financial statements of the Company for the year ended on thatdate.

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 reportingestablished 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 responsibilitiesinclude the design implementation and maintenance of adequate internal financial controlsthat were operating effectively for ensuring the orderly and efficient conduct of itsbusiness including adherence to company's policies the safeguarding of its assets theprevention and detection of frauds and errors the accuracy and completeness of theaccounting records and the timely preparation of reliable financial information asrequired under the 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 issued by ICAI and deemed to beprescribed under section 143(10) of the Companies Act 2013 to the extent applicable toan audit of internal financial controls both applicable to an audit of

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 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 judgment including the assessment of the risks ofmaterial misstatement of the financial statements whether due to fraud or 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 financial statements for external purposes in accordance with generallyaccepted accounting principles. A company's internal financial control over financialreporting includes those policies and procedures that (1) pertain to the maintenance ofrecords that in reasonable detail accurately and fairly reflect the transactions anddispositions of the assets of the company; (2) provide reasonable assurance thattransactions are recorded as necessary to permit preparation of financial statements inaccordance with generally accepted accounting principles and that receipts andexpenditures of the company are being made only in accordance with authorizations ofmanagement 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.

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 2018 based on‘'the internal control over financial reporting established by the Companyconsidering the essential components of internal control stated in the Guidance Note onAudit of Internal Financial Controls Over Financial Reporting issued by the Institute ofChartered Accountants of India''.

For NSVR ASSOCIATES& LLP
Chartered Accountants
(Firm.Reg No. 008801S/S200060)
Place: Hyderabad Sd/-
Date: 30/05/2018 Rama Rao Talluri
Partner
(Membership No. 219207)