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Aptech Ltd.

BSE: 532475 | NSE: APTECHT |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE266F01018 | SECTOR: Computers - Software - Training

BSE Live

Sep 22, 16:00
279.85 5.65 (2.06%)
Volume
AVERAGE VOLUME
5-Day
38,115
10-Day
33,790
30-Day
50,618
17,307
  • Prev. Close

    274.20

  • Open Price

    277.90

  • Bid Price (Qty.)

    279.85 (31)

  • Offer Price (Qty.)

    282.00 (115)

NSE Live

Sep 22, 15:53
279.95 5.50 (2.00%)
Volume
AVERAGE VOLUME
5-Day
419,050
10-Day
368,842
30-Day
672,918
381,924
  • Prev. Close

    274.45

  • Open Price

    275.95

  • Bid Price (Qty.)

    279.95 (745)

  • Offer Price (Qty.)

    0.00 (0)

Annual Report

For Year :
2019 2018 2017 2016 2015 2014 2013 2012 2011

Auditor's Report

1 We have audited the accompanying financial statements of APTECH LIMITED (the Company), which comprise the Balance Sheet as at March 31, 201 6, the Statement of Profit and Loss and Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information Management''s Responsibility for the Financial Statements 2 The Management and Board of Directors of the Company are responsible for the matters stated in Section 134(5) of the Companies Act, 2013 (''the Act'') with respect to the preparation & presentation of these financial statements that give a true 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, including the Accounting Standards specified under Section 133 of the Act, read with rule 7 of Companies (Accounts) Rules, 2014. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding 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; design, implementation and maintenance of adequate internal financial controls, that are 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 material misstatement, whether due to fraud or error Auditor''s Responsibility 3 Our responsibility is to express an opinion on these standalone financial statements based on our audit. We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the Rules made there under. We conducted our audit in accordance with the Standards on Auditing specified under Section 1 43(1 0) of the Act. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement 4 An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor''s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the Company''s preparation of the financial statements, that give a true and fair view, in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by the Company''s management and Board of Directors, as well as evaluating the overall presentation of the financial statements 5 We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the financial statements Basis for Modified Opinion 6 Attention is drawn to Note No 13.3 regarding the payment of managerial remuneration for Financial Year (FY) 2015-16, in excess of amount payable as per the provisions of the Act, to the Managing Director and the Whole Time Director aggregating to X 140.25 Lakhs for which application for approval of Central Government will be made. For such excess remuneration paid to the Managing Director amounting to X 1 46.31 lakhs in FY 201 4- 15, the approval from Central Government is awaited. Opinion 7 Subject to Para 6 above, 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 by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India of the state of affairs of the Company as at 31 ^ March 201 6, its profit and its cash flows for the year ended 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 of the Act, we give in the Annexure A, a statement on the matters Specified in paragraphs 3 and 4 of the Order. 9 As required by section 1 43(3) of the Act, we further report that: a. We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose 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 appears from our examination of those books; c. The Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement dealt with by this Report are in agreement with the books of account; d. In our opinion, the aforesaid standalone financial statements comply with the applicable Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules 2014; e. On the basis of written representations received from the directors as on March 31, 201 6, and taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2016, from being appointed as a director in terms of Section 1 64(2) of the Act; f. With respect to the adequacy of the Internal Financial Control over financial reporting of the company and the operating effectiveness of such control, refer Annexure B of this report; g. In our opinion and to the best of our information and according to the explanations given to us, we report as under with respect to other matters to be included in the Auditor''s Report in accordance with Rule 1 1 of the Companies (Audit and Auditors) Rules, 2014: (i) The impact of pending litigations has been duly disclosed in the financial statements- Refer point no. 1 7 of Note 16B (ii) The Company did not have any long-term contracts including derivative contracts as at Balance sheet for which there existed any foreseeable losses (iii) There has not been any occasion in case of the Company during the year under report to transfer any sums to the Investor Education and Protection Fund. Annexure A referred to in paragraph 8 Our Report of even date to the members of APTECH LIMITED on the Financial Statements for the year ended 31st March, 2016 On the basis of such checks as we considered appropriate and according to the information and explanations given to us during the course of our audit/ we report that: (i) (a) The Company has maintained proper records showing full particulars/ including quantitative details and situation of fixed assets; (b) In accordance with the planned programme of verifying all Fixed assets once in three years/ the physical verification of Fixed assets have been carried out by the Management. The plan of such verification/ in our opinion/ is reasonable having regard to the size of the Company and nature of its assets. As per the information and explanations given to US/ no material discrepancies have been noticed on such verification; (c) According to the information & explanation given to us and on the basis of our examination of the records of the Company/ the title deeds of immovable properties are held in the name of the company. (ii) The Management has conducted physical verification of inventory at reasonable intervals during the year; as informed to us no material discrepancies were noticed on such verification. (iii) The company has not granted any loans/ secured or unsecured to companies/ firms or other parties covered in the register maintained under section 1 89 of the Act except for the loan given to Whole Time Director of Rs. 25 Lakhs/ the terms and conditions whereof are/ prima facie/ not prejudicial to the interest of the Company. The repayment of principal and interest is as per stipulated schedule. (iv) In our opinion/ and according to the information and explanations given to US/ the Company has complied with the provisions of Sections 1 85 and 1 86 of the Act (v) The Company has not accepted any deposits from the public as covered under provisions of Section 73 to 76 of the Act and rules made thereunder to the extent notified (vi) As informed to US/ the Central Government has not prescribed maintenance of cost records under sub-section (1) of Section 1 48 of the Act for any of the services rendered by the company. (vii) (a) According to the information and explanations given to us and based on the records of the company examined by US/ the company is regular in depositing the undisputed statutory dues/ including Provident Fund/ Employees'' State Insurance/ Income-tax/ Service Tax/ Cess and other material statutory dues/ as applicable/ with the appropriate authorities in India. As informed/ provisions of Sales tax/ Value Added Tax/ Customs Duty and Excise duty are not applicable to the Company during the year under report; (b) According to the information and explanations given to us and based on the records of the company examined by US/ there are no material dues of Income Tax/ Service Tax/ Sales Tax and Value added tax which have not been deposited on account of any disputes. As informed/ provisions of Sales Tax/ Value Added Tax/ Customs Duty and Excise duty are not applicable to the Company during the year under report. (viii) According to the information and explanations given to us and based on the records of the Company examined by US/ the Company has not defaulted in repayment of loans or borrowings to any financial institution/ Bank or Government as at the Balance sheet date. The Company has not issued any debentures and hence there are no dues to debenture holders during the year under report. (ix) The Company did not raise any money by way of initial public offer or further public offer (including debt instruments) and term loans during the year. Hence/ paragraph 3 (ix) of the Order is not applicable to it. (x) According to the information & explanations given to US/ no material fraud by the Company or on the Company by its officers or employees have been noticed or reported during the course of our audit. (xi) As reported in paragraph 6 of the audit report/ the Managerial Remuneration paid in excess of the limits prescribed under the Act/ are being regularized by seeking approval from the Central Government. (xii) In our opinion and based on our examination of records of the company/ the Company is not a Nidhi Company. Accordingly/ paragraph 3(xii) of the Order is not applicable to the Company. (xiii) The Company has entered into transactions with related parties in compliance with the provisions of Section 1 77 and 188 of the Act. The transactions with related parties entered into by the Company/ disclosures whereof are made as per applicable Accounting Standards. (xiv) The Company has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during the year under report. Accordingly/ the provisions of Clause 3(xiv) of the Order are not applicable to the Company. (xv) According to the information & explanations furnished to us and based on our examinations of the records of the Company/ the Company has not entered into non cash transactions with the directors or persons connected with them. Accordingly/ paragraph 3(xv) of the Order is not applicable. (xvi) In our opinion/ the Company is not required to be registered under section 45-IA of the Reserve Bank of India Act/ 1 934. For Khimji Kunverji & Co Chartered Accountants Firm Registration No 105146W Place : Mumbai Shivji K Vikamsey Date :May 6/2016 Partner (F - 2242)