You are here » Home » Companies » Company Overview » Yuranus Infrastructure Ltd

Yuranus Infrastructure Ltd.

BSE: 536846 Sector: Infrastructure
NSE: N.A. ISIN Code: INE156M01017
BSE 09:52 | 01 Dec 5.20 -0.25
(-4.59%)
OPEN

5.60

HIGH

5.60

LOW

5.20

NSE 05:30 | 01 Jan Yuranus Infrastructure Ltd
OPEN 5.60
PREVIOUS CLOSE 5.45
VOLUME 11983
52-Week high 13.96
52-Week low 5.18
P/E 74.29
Mkt Cap.(Rs cr) 2
Buy Price 0.00
Buy Qty 0.00
Sell Price 5.20
Sell Qty 1182.00
OPEN 5.60
CLOSE 5.45
VOLUME 11983
52-Week high 13.96
52-Week low 5.18
P/E 74.29
Mkt Cap.(Rs cr) 2
Buy Price 0.00
Buy Qty 0.00
Sell Price 5.20
Sell Qty 1182.00

Yuranus Infrastructure Ltd. (YURANUSINFRAST) - Auditors Report

Company auditors report

To The Members of Yuranus InfrastructureLimited

Report on the Audit of the Financial Statements

for the year ended 31stMarch 2021

Opinion

We have audited the accompanying financial statements of YuranusInfrastructure Limited (the 'Company') which comprise the Balance Sheet as at 31st March2021 the Statement of Profit and Loss the Cash Flow Statement and the Statement forChanges in Equity for the year then ended and a summary of significant accountingpolicies and other explanatory information.

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 the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India of the state of affairs of the Companyas at 31 March 2021 and its Profit and 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 Rules thereunder and we have fulfilled our other ethical responsibilities in accordance with theserequirements and the Code of Ethics. We believe that the audit evidence we have obtainedis 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 financial statements of the current period.These matters were addressed in the context of our audit of the financial statements as awhole and in forming our opinion thereon and we do not provide a separate opinion onthese matters. No such matter has come to our notice during the course of audit of thecompany.

Information other than Financial Statements and the Auditor's Reportthereon

The Company's Board of Directors is responsible for the preparation ofthe other information. The other information comprises the information included in theAnnual Report but does not include the financial statements and our auditor's reportthereon. Our opinion on the standalone financial statements does not cover the otherinformation and we do not express any form of assurance or conclusion thereon

In connection with our audit of financial statements ourresponsibility is to read the other information and in doing so consider whether theother information is materially inconsistent with the financial statements or ourknowledge obtained in the audit or otherwise appears to be materially misstated. If basedon the work we have performed we conclude that there is a material misstatement of thisother information; we are required to report the fact. We have nothing to report in thisregard.

Responsibilities of Management and Those Charged with Governance forthe 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 positionand financial performance of the Company in accordance with theaccounting principles generally accepted in India including the Indian AccountingStandards specified under Section 133 of the Act.

This responsibility also includes maintenance of adequate accountingrecords in accordance with the provisions of the Act for safeguarding the assets of theCompany and for preventing and detecting frauds and other irregularities; selection andapplication of appropriate accounting policies; making judgments and estimates that arereasonable and prudent; and design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe financial statements that give a true and fair view and are free from materialmisstatement 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 applicablematters related to going concern and using the going concern basis of accounting unlessmanagement either intends to liquidate the Company or to cease operations or has norealistic alternative but to do so.

The Board of Directors is also responsible for overseeing the company'sfinancial reporting process.

Auditor's Responsibilities for the Audit of Financial Statements

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 Standards on Auditing will always detect a material misstatement when it exists.Misstatements can arise from fraud or error and are considered material if individuallyor in the aggregate they could reasonably be expected to influence the economic decisionsof users taken on the basis of these financial statements.

As part of an audit in accordance with Standards on Auditing weexercise professional judgment and maintain professional skepticism 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 the internal control relevant to theaudit in order to design audit procedures that are appropriate in the circumstances. UnderSection 143(3)(i) of the act we are also responsible for explaining our opinion onwhether the company has adequate internal financial controls system in place and theoperating 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 thefinancial statements including the disclosures and whether the financial statementsrepresent the underlying transactions and events in a manner that achieves fairpresentation.

• Materiality

Materiality is the magnitude of misstatements in the financialstatements that individually or in aggregate makes it probable that the economicdecisions 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 in evaluating the results of our work; and (ii) toevaluate the effect of any identified misstatements in the financial statements.

• Communication with Management

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.

Report on Other Legal and Regulatory Requirements

1. As required by section 197(16) of the Act we report that ManagerialRemuneration has not been paid and provided by the company in accordance with therequisite approvals mandated by the provisions of Section 197 of the Act read withSchedule V to the Act.

2. 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 of the Act we give in the "Annexure A" the statement on thematters specified in paragraphs 3 and 4 of the Order to the extend applicable.

3. Further to our comments in Annexure A 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 and the CashFlow Statement dealt with by this Report are in agreement with the books of account;

d) In our opinion the aforesaid financial statements comply with theIndian Accounting Standards specified under Section 133 of the Act read with Rule 7 ofthe Companies (Accounts) Rules 2014;

e) On the basis of the written representations received from thedirectors and taken on record by the Board of Directors none of the directors isdisqualified as on 31 March 2021 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 overfinancial reporting of the Company and the operating effectiveness of such controls referto our separate Report in "Annexure B" to this report;

g) The following non-compliances have been identified in the companywhich may adversely impact the functioning of company:

1. Section 186 of the Act requires the Company to pass a specialresolution for lending money in excess of the specified limits in the Section. The Companyhas lent money in excess of the permissible limits and has not obtained special resolutionfrom the members of the Company regarding the same.

h) With respect to the other matters to be included in the Auditor'sReport in accordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 inour opinion and to the best of our information and according to the explanations given tous:

i. The Company does not have any pending litigations which would impactits financial position.

ii. The Company did not have any long-term contracts includingderivative contracts for which there were any material foreseeable losses.

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

</tr>
For Mistry & Shah LLP
Chartered Accountan ts
F.R.N: - 122702W/W100683
Date: 28/06/2021 Malav Shah
Place: Ahmedabad Partner
UDIN: 21117101AAAAFC3617 M.NO. 117101

"Annexure A"

To the Independent Auditor's Report on the Financial Statements ofYuranus Infrastructure Limited

Based on the audit procedures performed for the purpose of reportingtrue and fair view on the financial statements of the company and taking intoconsideration the information and explanations given to us and the books of account andother records examined by us in the normal course of audit and to the best of ourknowledge and belief we report that:

1. (a) The Company has generally maintained proper records showing fullparticulars including quantitative details and situation of fixed assets;

(b) The Company has a regular program of physical verification in aphased periodic manner which is in our opinion is reasonable having regards to size ofthe Company and nature of its assets. Pursuant to the program a portion of the fixedasset has been physically verified by the management during the period and no materialdiscrepancies between the book's records and the physical fixed assets have been noticed.

(c) The title deeds of Immovable property are held in the name of thecompany.

2. The management has conducted physical verification of the Inventoryat reasonable intervals during the year and no material discrepancies were noticed on suchphysical verification.

3. The Company has not granted any loans secured or unsecured tocompanies firms Limited Liability partnerships or other parties covered in the Registermaintained under section 189 of the Act.

4. According to the information and explanations given to us thecompany has not fully complied with the provisions of section 185 and 186 of the CompaniesAct 2013 in respect of loans to director's including entities in which they areinterested and in respect of loans and advances given investments made and guaranteesand securities given have been complied with by the Company. No register as required bySection 186(9) of the Companies Act 2013 has been maintained by the company.

5. The Company has not accepted any deposits within the meaning ofSections 73 to 76 of the Act and the Companies (Acceptance of Deposit) Rules 2014 (asamended). Accordingly the provision of clause 3(v) of the Order is not applicable.

6. As per the sub section (1) of section 148 of the Companies Act 2013the company is not required to maintained cost records.

7. (A) The Company is generally regular in depositing with appropriateauthorities undisputed statutory dues Income Tax Cess and other statutory dues applicableto it.

(B) According to information and explanations provided to us noundisputed amounts payable in respect of Provident fund Employees State Insurance IncomeTax Cess and other statutory were outstanding at the year end for a period of more thansix months from the date they become payable.

8. In our opinion and according to the information and explanationsprovided by the management the Company has not defaulted in repayment of loans andborrowing to a financial institution Bank or Government or dues to Debenture Holders.

9. In our opinion and according to the information and explanationsprovided by the management the Company has utilized the monies raised by way of debtinstrument Initial Public offer and term loan for the purpose for which they were raised.

10. Based upon the audit procedures performed for the purpose ofreporting the true and fair view of the Financial Statement and according to theinformation and explanations provided by the management we report that no fraud by theCompany or on the company by the officers or employees of the Company has been noticed orreported during the period.

11. Managerial Remuneration has been paid and provided by the companyin accordance with the requisite approvals mandated by the provisions of Section 197 ofthe Act read with Schedule V to the Act.

12. In our opinion the Company is not a Nidhi Company. Therefore theprovisions of clause 3 (xii) of the Order are not applicable to the Company and hence notcommented upon.

13. According to the information and explanations provided by themanagement transactions with the related parties are in compliance with section 177 and188 of Companies Act 2013 where applicable and the details have been disclosed in the inthe Financial Statements as required by the applicable Indian Accounting Standards.

14. According to the information and explanations provided to us andoverall examination of balance sheet the Company has not made preferentialallotment/private placement of shares or fully and partly convertible Debenture during theyear under review hence reporting requirement under clause 3(xiv) of the order is notapplicable to the company and not commented upon.

15. According to the information and explanations provided to us thecompany has not entered into any non-cash transactions with directors or persons connectedwith him as referred to in section192 of the Act.

16. According to the information and explanations provided to us theprovisions of section 45-IA of Reserve Bank of India Act 1934 are not applicable to theCompany and hence not commented upon.

For Mistry & Shah LLP
Chartered Accountants
F.R.N: - 122702W/W100683
Date: 28/06/2021 Malav Shah
Place: Ahmedabad Partner
UDIN: 21117101AAAAFC3617 M.NO. 117101

"Annexure B"

To the Independent Auditor's on the Financial Statements of YuranusInfrastructure Limited

Report on the Internal Financial Controls under Clause (i) ofSub-section 3 of Section 143 of the Companies Act 2013 ("the Act")

We have audited the internal financial controls over financialreporting of Yuranus Infrastructure Limited ("the Company") as of March 31 2021in conjunction with our audit of the Financial Statements of the Company for the yearended on that date.

Management's Responsibility for Internal Financial Controls

The Company's Management is responsible for establishing andmaintaining 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. Theseresponsibilities include the design implementation and maintenance of adequate InternalFinancial Controls that were operating effectively for ensuring the orderly and efficientconduct of its business including adherence to the Company's policies the safeguardingof its assets the prevention and detection of frauds and errors the accuracy andcompleteness of the accounting records and the timely preparation of reliable financialinformation as required under the Companies Act 2013.

Auditor's 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 as specified undersection 143(10) of the Companies Act 2013 to the extent 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 withethical requirements and plan and perform the audit to obtain reasonable assurance aboutwhether adequate 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 Control 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 internal financial controlssystem 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 over financial reportingincludes those policies and procedures that:

(1) Pertain to the maintenance of records that in reasonable detailaccurately and fairly reflect the transactions and dispositions of the assets of theCompany;

(2) Provide reasonable assurance that transactions are recorded asnecessary to permit preparation of Financial Statements in accordance with generallyaccepted accounting principles and that receipts and expenditures of the Company arebeing made only in accordance with authorizations of management and directors of theCompany; and

(3) Provide reasonable assurance regarding prevention or timelydetection of unauthorized acquisition use or disposition of the Company's assets thatcould have a material effect on the Financial Statements.

Inherent Limitations of Internal Financial Controls Over FinancialReporting 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 March 31 2021 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 Mistry & Shah LLP
Chartered Accountants
F.R.N: - 122702W/W100683
Date: 28/06/2021 Malav Shah
Place: Ahmedabad Partner
UDIN: 21117101AAAAFC3617 M.NO. 117101

.