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Trimurthi Ltd.

BSE: 536565 Sector: Financials
NSE: N.A. ISIN Code: INE314I01036
BSE 00:00 | 12 Sep Trimurthi Ltd
NSE 05:30 | 01 Jan Trimurthi Ltd
OPEN 7.00
PREVIOUS CLOSE 7.00
VOLUME 96
52-Week high 7.90
52-Week low 6.89
P/E 70.00
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 7.00
CLOSE 7.00
VOLUME 96
52-Week high 7.90
52-Week low 6.89
P/E 70.00
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Trimurthi Ltd. (TRIMURTHI) - Auditors Report

Company auditors report

To the Members of

M/S TRIMURTHI LIMITED

(formerly known as TRIMURTHI DRUGS & PHARMACEUTICALS LIMITED')

Report on the Standalone Financial Statements

1. I have audited the accompanying financial statements of TRIMURTHI LIMITED (formerlyknown as 'TRIMURTHI DRUGS & PHARMACEUTICALS LIMITED') ('the Company') which comprisethe balance sheet as at 31st March 2017 the statement of profit and loss and cash flowstatement for the year then ended and a summary of significant accounting policies andother explanatory information.

Management's Responsibility for the Standalone Financial Statements

2. The Company's Board of Directors is responsible for the matters stated in Section134(5) ofthe Companies Act 2013 ("the Act") with respect to the preparation andpresentation of these financial statements that give a true and fair view of the financialposition financial performance and cash flows of the Company in accordance with theaccounting principles generally accepted in India including the Accounting Standardsspecified under Section 133 ofthe Act read with Rule 7 ofthe Companies (Accounts) Rules2014. 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 ofthe accounting records relevant to the preparation and presentation of the financialstatements that give a true and fair view and are free from material misstatement whetherdue to fraud or error.

Auditor's Responsibility

3. My responsibility is to express an opinion on these financial statements based on myaudit. I 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 ofthe Act and the Rules made there under.

4. I conducted my audit in accordance with the Standards on Auditing specified underSection 143(10) ofthe 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.

5. An audit involves performing procedures to obtain audit evidence about the amountsand the 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 but not for the purpose of expressing anopinion on whether the Company has in place an adequate internal financial controls systemover financial reporting and the operating effectiveness of such controls. An audit alsoincludes evaluating the appropriateness of the accounting policies used and thereasonableness of the accounting estimates made by the Company's Directors as well asevaluating the overall presentation of the financial statements.

6. I believe that the audit evidence I have obtained is sufficient and appropriate toprovide a basis for my audit opinion on the financial statements.

Opinion:

7. In my opinion and to the best of my information and according to the explanationsgiven to me 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.

a) In the case of the Balance sheet of the state of affairs of the company as at 31stMarch 2017.

b) In the case of the statement of profit and loss of the Profit for the year ended onthat date and

c) In the case ofthe cash flow statement ofthe cash flows ofthe company for the yearended on that date.

Report on Other Legal and Regulatory Requirements

8. 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 statement on the matters specified in the paragraph 3and 4 of the Order to the extent applicable.

9. As required by Section 143 (3) ofthe Act we report that:

(a) I have sought and obtained all the information and explanations which to the bestof my knowledge and belief were necessary for the purposes of our audit.

(b) In my opinion proper books of account as required by law have been kept by theCompany so far as it appears from my examination of those books;

(c) The balance sheet the statement of profit and loss and the cash flow statementdealt with by this Report are in agreement with the books of account;

(d) In my 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 the directors as on 31March 2017 taken on record by the Board of Directors none of the directors isdisqualified as on 31 March 2017 from being appointed as a director in terms of Section164 (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 myseparate report in Annexure B; and

(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 my opinionand to the best ofmy information and according to the explanations given to me.

i. The Company has disclosed the impact of pending litigation on its financial positionin its financial statements- for details refer to note no.2.24 to the financialstatements.

ii. As the company has not foreseen any material losses no provision has been made asrequired under any law or accounting standard as there are no material foreseeable losseson long term contracts including derivative contracts.

iii. There has been no delay in transferring amounts required to be transferred tothe Investor Education and Protection Fund by the Company.

iv. The Company has provided requisite disclosures in its standalone financialstatements as to holdings as well as dealings in Specified Bank Notes during the periodfrom 8 November 2016 to 30 December 2016 and these are in accordance with the books ofaccounts maintained by the Company. Refer Note 2.25 to the standalone financialstatements.

FOR K.VENKATESWARA RAO & ASSOCIATES

CHARTERED ACCOUNTANTS FRN: 006374S

K.VENKATESWARA RAO
PLACE: HYDERABAD PROPRIETOR
Date: 19.05.2017 M.NO.27305

ANNEXURE-A TO THE AUDITOR'S REPORT

The Annexure referred to in paragraph 8 in our Independent Auditors' Report to themembers of the Company on the financial statements for the year ended 31 March 2017 wereport that:

(I) (a) The company has maintained proper records showing full particulars Includingquantitative details and situation of fixed assets.

(b) All the fixed assets have been physically verified by the management during theyear and no material discrepancies were noticed on such verification. In my opinion thephysical verification is reasonable having regard to the size of the Company and thenature of its assets.

(c) According to the information and explanations given to me and on the basis of myexamination of the records of the Company the title deeds of immovable property are heldin the name of the company.

(ii) Verification of inventory has been conducted at reasonable intervals by themanagement and no discrepancies noticed on verification of stock and book records.

(iii) In my opinion and according to the information and explanations given to me 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 companies Act 2013.

(iv) In my opinion and according to the information and explanations given to me theCompany has complied with the provisions of section 185 and 186 of the Act with respectto the loans and Investments made.

(v) In my opinion and according to the information and explanations given to me thecompany has not accepted any deposits from the public and hence the directives issued bythe Reserve Bank of India and the Provisions of sections 73 to 76 or any other relevantprovisions of the Act and the Companies (Acceptance of Deposit) Rules 2015 with regard tothe deposits accepted from the public are not applicable.

(vi) The central government has not prescribed maintenance of cost records undersection 148(1) of the Companies Act 2013.

(vii) (a) The company is regular in depositing with appropriate authorities undisputedstatutory dues including Income Tax service tax and cess.

(b) According to the information and explanations given to me there are no duesincome tax service tax and cess which has not been deposited on account of any dispute.

(viii) The company does not have any loans or borrowings from any financial institutionbanks banks or Govt or debenture holders during the year.

(ix) The company has utilised the moneys raised by way of initial public offer for thepurpose for which they have been raised.

(x) According the information and explanations given by the management we report thatno fraud by the Company or on the company by its officers or employees has been noticed orreported during the year.

(xi) According to the information and explanations give to me and based on myexamination of the records of the Company the Company has paid/provided for managerialremuneration in accordance with the requisite approvals mandated by the provisions ofsection 197 read with Schedule V to the Act.

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

(xiii) According to the information and explanations given to me and based on myexamination of the records of the company transactions with the related parties are incompliance with sections 177 and 188 of the Act where applicable and details of suchtransactions have been disclosed in the financial statements as required by the applicableaccounting standards.

(xiv) According to the information and explanations given by the management thecompany has not made any preferential allotment or private placement of shares or fully orpartly convertible debentures during the year.

(xv) According to the information and explanations given by the management the companyhas not entered into any non-cash transactions with directors or persons connected withhim.

(xvi) In my opinion the company is not required to be registered under section 45 IAof the Reserve Bank of India Act 1934 and accordingly the provisions of clause 3 (xvi)of the Order are not applicable.

FOR K.VENKATESWARA RAO & ASSOCIATES

CHARTERED ACCOUNTANTS FRN: 006374S

K.VENKATESWARA RAO
PLACE: HYDERABAD PROPRIETOR
Date: 19.05.2017 M.NO.27305

ANNEXURE - B TO INDEPENDENT AUDITORS' REPORT

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

I have audited the internal financial controls over financial reporting of TRIMURTHILIMITED (formerly known as 'TRIMURTHI DRUGS & PHARMACEUTICALS LIMITED) ("theCompany") as of March 31 2017 in conjunction with my audit of the standalonefinancial statements of the Company for the year ended on 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 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

My responsibility is to express an opinion on the Company's internal financial controlsover financial reporting based on my audit. I conducted my audit in accordance with theGuidance 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 FinancialControls and both issued by the Institute of Chartered Accountants of India. ThoseStandards and the Guidance Note require that I comply with ethical requirements and planand perform the audit to obtain reasonable assurance about whether adequate internalfinancial controls over financial reporting was established and maintained and if suchcontrols operated effectively in all material respects.

My audit involves performing procedures to obtain audit evidence about the adequacy ofthe internal financial controls system over financial reporting and their operatingeffectiveness. My 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.

I believe that the audit evidence I have obtained is sufficient and appropriate toprovide a basis for my 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 my 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 2017 based on"the internal control over financial reporting criteria 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 K.VENKATESWARA RAO & ASSOCIATES

CHARTERED ACCOUNTANTS FRN: 006374S

K.VENKATESWARA RAO
PLACE: HYDERABAD PROPRIETOR
Date: 19.05.2017 M.NO.27305