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Aditya Spinners Ltd.

BSE: 521141 | NSE: ADITYASPIN | Series: | ISIN: INE122D01026 | SECTOR: Textiles - Spinning - Synthetic Blended

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BSE Live

Jan 24, 16:00
4.30 0.04 (0.94%)
Volume
AVERAGE VOLUME
5-Day
662
10-Day
438
30-Day
464
280
  • Prev. Close

    4.26

  • Open Price

    4.30

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

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Aditya Spinners is not listed on NSE

Annual Report

For Year :
2015 2014 2013 2012 2011 2010 2009 2008 2006

Auditor's Report

We have audited the accompanying financial statements of M/s Aditya Spinners Limited. Hyderabad (the Company), which comprise the Balance Sheet as at 3ST March, 201S, the Statement of Profit and Less, the Cash Flow Statement for Ehe year then ended, and a summary of the significant accounting policies and other explanatory information Management''s Responsibility for the Financial Statements The Company''s Board of Directors is responsible for the matters stated -n Section 134< 5) o- the Com pa ries Act. 20\3 (Jthe Act) with respect te the preparation of these financial statements that give a tme and fair view of the financial position, financial performance and cash flows of the Company in accordance with the accounting principles generally accepted in India, inciudirrg the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014 This -responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies'' making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from matenal misstatement, whether due to fraud or error Auditor''s Responsibility Our responsibility is to express an opinion on these financial statements based on our audit We have taken into account the provisions of the Act. the accounting and auditing standards and mailers which are required to be included n the audit report under the provisions of the Act and the Rules made (hereunder. We conducted our auoit in accordance with the Standards on Auditing specifieo under Section 143(1 Q) of the Act. Those Standards require that we comply with ethical requirements and pian and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evsaence about trie amounts and the disclosures in the financial slatenreuts The procedures selected depend an the auditor s judgment, including the essessmentof the risks of matenal misstatement of the financial statements, whether due la fraud or error, in making those risk assessments, the auditor considers internal financial conlrol relevant to the Compa ay''s preparation of the financial statements that give a Vue and fair view in order to desig n audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of the accounting pol-cies used and the reasonableness of the accounting estimates made by the Company''s rectors, as well as evaluating Ihe overall presentation of the financial statements We beiieve that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion or the financial statements Opinion In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements give the information required Joy the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, fal in the case of the Balance Sheet, of the state of affairs of the Company as at 31 March, 2015; (bj tn th e case of the Stare nient of Profit and Loss, of the orofir of the Company for the year ended on that date; and tc) En Ihe case of Ihe Cash Flow Statement, of the cash flows of the Company for the year ended on that date. Report on Other Legal end Regulatory Requirements As required by the Companies (Auditor''s Report) order, 2)0tSr issued by the Central Government of India in terms of sub-section {HI of Section 143 of the Companies Act, 2013, we give in the Annexure a statement on the matters specified in paragraphs 3 and 4 of Ihe order, to the extent applicable As required by Section 143 (3} of the Act, we report that: fa''i We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit. (b) in our opinion, proper books of account as required by law have been kept by the Company so far as it apoears from our examination oi those books (c) The Balance Sheet, the Statement of Profit and Loss, and Ihe Cash Flow Statement dealt with by this Repad are in agreement with Ihe books of account. idl In our opinion, the aforesaid financial statements comply with the Accounting Standards specified under Section 133 cf th e AcL read with R me 7 of the Companies (Accounts) Rules, 2014 i si Based on the Written Representation received from the directors as on 31 March 2D15, and taken on record by the Board of Directors, we report that none of the director are c isq u alified as an 31 March, 2D 15 from being ap pointed as a director in terms of Sub-section 2 of Section 154 of the Act. (II} With respect to the other matters to be included in tl''.e Auditor''s Report in accordance with Ru le 11 of th b Com pan les (Audit a nd Auditors) Rules. 2014, In our opinion and to the best of our information and according to the explanations given to us: i. The Company does not have any penoing legal litigations. ii The company dees not have any pending amounts required to be transferred to the Investor Education and Protection Fund Annexure referred to in paragraph 3 of the Independent Auditor''s Report of even date of Aditya Spinners Limited, Hyderabad on the financial statements for the year ended March 31,2015. i In respect of fixed assets (a) The company is maintaining proper records shewing mil particulars, including quantitative details and situation of fixed assets; (bj As explamed to us, ail the fixed assets hove been physsca:ly verified by the Management during the year No matenel discrepancies were noticed on such verification ii. In reaped of its inventories: (a) As explained to us, the inventories excepting in case of goods in transit, stocks lying in Central / Elate Warehouses (where confirmation were obtained from the parties and relied uporu were physically verified during the year by the Management at reasonable intervals. (b) In our opinion, procedures of physical verification of inventory followed by the Management are reasonable and adequate in relation lo the size of the Company and the nature of its business. (c) On the basis at our examination of records of the inventory, in oar opinkzi, the Company is maintaining proper records of inventory. No material discrepancies were noted on such verification. iii In respect of loans As informed to usr the company has not granted any loans, secured or unsecured tc companies, fimts or other parties coveretr in the register maintained under section 139 of the Companies Act iv. tn our opinion and according to the information and explanations given to us, there are adequate into mar control systems commensurate with [he size of the company and the nature of its business for the purchase of inventory, fixed assets and for the sale of goods & services. v The company has net accepted any deposits, and hence clause (v) of Companies (Auditor''s Report} Order, 2015 is not applicable. VL We have broadly reviewed the books of account maintained by company pursuant to rules p nescribed by the centra- government of I nd ia for maintenance of cost records under Section of the Companies Act 2013 in respect of products {Yam) of (he company and are of the opinion that prima facie, the prescribed accounts and records have been made and maintained However, we have not made a detailed examination of the records vii.a} According to the information and explanations given la us and The records as produced and examined by us, in our opinion, the company is regular in depositing undisputed statutory dues including income tax, service tax, Customs Duly and other materia: statutory dues during the year by the company with the appropnate authorities though there are no ahnomnar deays in respect at Professional Tax As explained to us. the company did not have any dues on accounl of Employee''s State insurance, Sales lax, Excise duty. Wealth tax and Investor Education and Protection Fund. According to the information ana explanations given to us no undisputed amounts payable in respect of Provident Fund, fncanTje-tax. Service tax, Customs duty and other material statutory dues were in arrears as at 31K March 2D15 for a period of more than six months from the period they became payable. b) According to the information and explanations given to us, there are no dues of income-tax. Service tax and Customs duly which have not been deposited with the appropriate authorities on account of any dispute As informed to us, the company did not have any dues on account of Wealth tax and Excise duly. c) According to the information and explanations given lo us, there are no pending amounts required to be transferred to Erie Investor Education and Protection Fund and hence clause (vii) {c) of Companies (Auditor''s Report) Order. 2D15 is not appNcabhe viii The Company does not have any accumulated lasses and has not incurred any cash losses in the current financial year and in Ihe immediately preceding financial year ix. in our opinion and according to the information and explanations given to us, the company has noL defaulted in repayment of loans to its bankers and financial institutions: x- According lo the information and explanatory given to us the company has not given any guarantee for loans taken by others- or banks or financial institutions. Thus paragraph 3 (x) of the order does not apply to the company for the year xi in our option and according to the information and explanations given to uar the term loans taken by the company have been aopliec for the purpose for which they wens rais-ea xii. According to ihe mfomnason a no explanations given to us, no fraud on or by the company has been noticed or reported dunng the course of audit. For C Ramachandram & Co,L Chartered accountants, Firm Registration No. 0028645 C.Ramach andram Partner M.No:Q25B34 Place: Hyderabad Date: 29.0B3}15