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Trijal Industries Ltd.

BSE: 531658 Sector: Others
NSE: N.A. ISIN Code: INE454E01013
BSE 00:00 | 15 Mar 2.48 0
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NSE 05:30 | 01 Jan Trijal Industries Ltd
OPEN 2.48
PREVIOUS CLOSE 2.48
VOLUME 155
52-Week high 2.60
52-Week low 2.00
P/E 248.00
Mkt Cap.(Rs cr) 1
Buy Price 2.38
Buy Qty 310.00
Sell Price 2.48
Sell Qty 701.00
OPEN 2.48
CLOSE 2.48
VOLUME 155
52-Week high 2.60
52-Week low 2.00
P/E 248.00
Mkt Cap.(Rs cr) 1
Buy Price 2.38
Buy Qty 310.00
Sell Price 2.48
Sell Qty 701.00

Trijal Industries Ltd. (TRIJALINDS) - Auditors Report

Company auditors report

To

The Members of

TRIJAL INDUSTRIES LIMITED

We have audited the accompanying stand alone Financial Statements of TRIJALINDUSTRIES LIMITED ("The Company") which comprises the Balance Sheet ason 31st March 2018 the statement of Profit and Loss Account (including othercomprehensive income) Statement of changes in Equity and cash flow statement for the yearthen ended and a summary of significant accounting policies and other explanatoryinformation.

Management's responsibility for 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 preparation andpresentation of these stand-alone financial statements that give true and fair view of thefinancial position financial performance including other comprehensive income changes inEquity and cash flows of the company in accordance with the Accounting principlesgenerally accepted in India including the Accounting Standards (Ind. AS) specified undersection 133 of the Act read with Rule 7 of the Companies (Accounts) Rules2014. Thisresponsibility also includes maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding of the assets of the company and/or preventingand detecting frauds and other irregularities selection and application of appropriateaccounting policies making judgements and estimates that are reasonable and prudent anddesign implementation 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.

Auditors Responsibility

Our responsibility is to express an onion on these financial statements based on ouraudit.

We have taken in to 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 accordance with the standards on auditing specified undersection 143(10) of the Act. Those standards require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetherthe financial statements are free from material misstatement

An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the financial statements. The procedures selected depend on the auditor'sjudgement 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 financial control relevant to the company's preparation of thefinancial statements that give true and fair view in order to design audit procedures thatare appropriate in the circumstances. An Audit also includes evaluating theappropriateness of accounting polices used and the reasonableness of the accountingestimates made by company's directors as well as evaluating the overall presentation ofthe financial statements.

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

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid stand alone 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 of state of affairs of the company at31st March 2018 and its' Profit/(Loss) including other comprehensive incomechanges in equity and it's cash flows for the year ended on that date.

Report on other Legal mandatory Regulatory Requirements

1. As required by Companies (Auditors Report) Order 2016 issued by the CentralGovernment of India in terms of Section 143(11) of the Act we give "AnnexureA" attached hereto our comments on the matters specified in the paragraphs 3 and 4 ofthe said order.

2. As required by Sub-Section 3 of Section143 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 purpose of our audit.

(b) In our opinion books of accounts as required by law have been kept by the companyso far as appears from our examination of the books.

(c) The Balance Sheet the statement of profit and loss the statement of changes inEquity and Cash Flow statement dealt with by this report are in agreement with books ofaccounts.

(d) In our opinion the aforesaid stand-alone financial statements dealt with by thisreport comply with the Accounting Standards specify under section 133 of the Act readwith Rule 7 of the Companies (Account) Rules 2014.

(e) On the basis of written representations received from the Directors as on 31stMarch 2018 and taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2018 from being appointed as a director in termsof Section 164(2) of the Act.

(f) With respect to the adequacy of the internal financial controls over financialreporting of the company and the operating effectiveness of such controls refer to ourseparate report in Annexure "B"

(g) With respect to other matters to be included in the Auditor's Report in accordancewith Rule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinion and to thebest of our information and according to explanations given to us:

i. The company has disclosed the impact of pending litigations on its financialposition in its standalone IndAS financial statements. ii. The company did not have anylong term contracts including derivative contracts for which there were any materialforeseeable loses. iii. There has been no delay in transferring amounts required to betransferred if any to the Investor Education and Protection Fund by the Company. iv. Thedisclosures in the standalone financial statements as regards its holding and dealing inSpecified Bank Notes as defined in the Notification S.O.3407(E) dated 8thNovember 2016 to 30th December 2016 has not been made since the requirementdoes not pertain to financial year ended 31st March 2018.

FOR S. C. Kabra & Co. Company Chartered Accountants

(Firm Registration No. 000337-C)

Sd/-

Paridhi Jain (Partner)

M. No : 418908 DATE : 30th May 2018. PLACE : Mumbai.

Annexure ‘A' to the Independent Auditors' Report

Annexure to the Auditors Report referred to in our report of even date:

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

(b) As explained to us the Company has a phased program for physical verification offixed assets of the company. In our opinion the frequency of verification is reasonableconsidering the size of the Company. No material discrepancies were noticed on suchverification carried on during the year as compared with the available records.

(c) According to the information and explanation given to us and on the basis of ourexamination of the records of the company the Company does not own any immovable propertyand so the details about title deed in its name is not applicable.

2. The company does not have any inventory of finished goods raw material stores andspare parts so the reporting on Physical verification and discrepancies with books ofaccount is not applicable.

3 . According to the information and explanation given to us the Company hasnot granted any loans secured or unsecured to Companies

Firms Limited Liability Partnerships or other parties listed in the registermaintained under section 189 of the Companies Act 2013. Accordingly provisions of subclause (a) (b) and (c) of clause 3(iii) are not applicable.

4. The company has no such transaction during the year to which the provisions ofsection 185 and 186 of the Companies Act 2013 gets attracted.

5. The Company has not accepted any deposits from the public in accordance with theprovisions of section 73 to 76 of the Companies Act 2013 and Rules framed there under.

6. We have been informed that the maintenance of Cost Records has not been prescribedby the Central Government under section 148(1) of the Companies Act 2013 for any of theProducts of the company.

7 a) According to the records of the Company and information and explanation given tous Provident Fund Employees State Insurance Income Tax Sales Tax Custom Duty CessExcise Duty Service Tax Value Added Tax Goods and Service Tax and other materialstatutory dues have been regularly deposited wherever applicable during the period withthe appropriate authorities. According to the records of the Company and information andexplanation given to us there were no arrears of outstanding statutory dues as at 31stMarch 2018 for a period of more than six months from the date they became payable.

(b) According to the records of the Company and information and explanation given tous there are no disputed statutory liabilities during the period covered under thisAudit other than specifically mentioned in notes to the accounts.

8. Based on our audit procedures and on the basis of information and explanations givenby the management we are of the opinion that the company has not defaulted in therepayment of dues to financial institutions banks governments or debenture holders. Thecompany has not issued any debentures.

9. According to the records of the Company and information and explanation given to usthe company has not applied for any long term loans. The company has not raised any moneyby way of Initial public offering or further public offer (including debt instrument)during the year. Accordingly Paragraph 3(ix) of the order is not applicable to thecompany.

10. During the course of our examination of the books and records of the companycarried out in accordance with the generally accepted auditing practise in India andaccording to the Explanation and Information given to us we did not come across anyinstance of fraud on or by the Company it's officers or employees noticed or reportedduring the year 2017-2018.

11. According to the information and explanation given to us and based on ourexamination of the books and records of the company we are of the opinion that themanagerial remuneration has been paid or provided in accordance with the requisiteapprovals mandated by the provisions of section 197 read with Schedule V to the CompaniesAct.

12. According to the information and explanation given to us the provisions of anySpecial Statute applicable to Nidhi Companies as prescribed by Section 406 of the Act isnot applicable to the Company.

13. According to the information and explanation given to us and based on ourexamination of the books and records all the transaction with related parties are incompliance with section 177 and 188 of the Companies Act 2013 and all the details havebeen disclosed in the financial statements as per accounting Standard.

14. According to the information and explanation given to us and based on ourexamination of the books records of the Company has not made any preferential allotment ofprivate placement of shares or fully or partly convertible debentures during the periodunder review.

15. According to the information and explanation give n to us and based on ourexamination of the books records of the Company has not entered into any non-cashtransactions during the period with directors of persons connected with him.

16. The Company is not required to be registered under section 45-IA of the ReserveBank of India Act 1934.

FOR S. C. Kabra & Co. Company Chartered Accountants

(Firm Registration No. 000337-C)

Sd/-

Paridhi Jain (Partner)

M. No : 418908 DATE : 30th May 2018. PLACE : Mumbai.

ANNEXURE ‘B' TO THE INDEPENDENT AUDITOR'S REPORT OF EVEN DATE ON THE STANDALONEFINANCIAL STATEMENTS OF TRIJAL INDUSTRIES LIMITED.

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section143 of the Companies Act 2013 ("the Act")

We have audited the Internal Financial Controls over Financial Reporting of TRIJALINDUSTRIES 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 reporting criteriaestablished 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 responsibilities includethe design implementation and maintenance of adequate internal financial controls thatwere operating effectively for ensuring the orderly and efficient conduct of its businessincluding adherence to company's policies the safeguarding of its assets the preventionand detection of frauds and errors the accuracy and completeness of the accountingrecords and the timely preparation of reliable financial information as required underthe 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 deemedto be prescribed under section 143(10) of the Companies Act 2013 to the extentapplicable to an audit of internal financial controls both applicable to an audit ofInternal Financial Controls and both issued by the Institute of Chartered Accountants ofIndia. 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 judgement 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 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 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 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.

FOR S. C. Kabra & Co. Company Chartered Accountants

(Firm Registration No. 000337-C)

Sd/-

Paridhi Jain (Partner)

M. No : 418908 DATE : 30th May 2018.

PLACE : Mumbai.