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Arihant Superstructures Ltd.

BSE: 506194 | NSE: ARIHANTSUP |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE643K01018 | SECTOR: Construction & Contracting - Real Estate

BSE Live

Dec 03, 16:00
187.75 1.60 (0.86%)
Volume
AVERAGE VOLUME
5-Day
68,240
10-Day
70,314
30-Day
54,121
73,876
  • Prev. Close

    186.15

  • Open Price

    185.50

  • Bid Price (Qty.)

    187.75 (100)

  • Offer Price (Qty.)

    194.80 (100)

NSE Live

Dec 03, 15:53
186.95 0.40 (0.21%)
Volume
AVERAGE VOLUME
5-Day
251,946
10-Day
303,216
30-Day
249,880
355,901
  • Prev. Close

    186.55

  • Open Price

    186.55

  • Bid Price (Qty.)

    186.95 (90)

  • Offer Price (Qty.)

    0.00 (0)

Annual Report

For Year :
2018 2016 2015 2014 2013 2012 2011 2010 2008

Auditor's Report

We have audited the attached Balance Sheet of ARIHANT SUPERSTRUCTURES LTD. as on 31st March 2011 and also the annexed Profit & Loss Account of the Company for the year ended on that date. These Financial Statements are the responsibility of the Companys Management. Our responsibility is to express an opinion on these Financial Statements based on our audit. We have conducted our audit in accordance with Auditing Standards generally accepted in India. These standards require that we plan and perform the audit to obtain responsible assurance about whether the Financial Statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the Financial Statement. An audit also includes assessing the accounting principles used and significant estimates made by Management, as well as evaluating the overall Financial Statement presentation. We believe that our audit provides a responsible basis for our opinion. 1. As required by the Companies (Auditors Report) Order, 2003 issued by the Central Government in terms of Section 227(4A) 227 of the Companies Act, 1956, we enclose in the Annexure a Statement on the matters specified in paragraphs 4 and 5 of the said order. 2. Further to our comments in the Annexure referred to in paragraph 1 above, we state that: a) We have 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 ap- pears from our examination of books. c) The Balance Sheet and the Profit &. Loss Account dealt with by this report are in agreement with the Books of Account d) In our opinion the Balance Sheet and the Profit & Loss Account complies with the mandatory Accounting Standards referred in Section 211 (3C) of the Companies Act, 1956. e) On the basis of the written representations received from the Directors and taken on record by the Board of Directors, and according to the information and explanation given to us, none of the Directors are prima fa- cie disqualified as on March 31st, 2011 from being appointed as Director in terms of clause (g) of sub-section (1) of Section 274 of Act. f) Reference is invited to Note No, 3 of Notes to Accounts read with Accounting Policy of Revenue Recognition of Schedule XIV, relating to the change in Accounting Policy adopted by the Company during the year, so as to bring them in line with norms generally followed in the industry and to make the Financial Statements more comparable. As a result of such change Profit Before Tax for the March 2011 is lower by Rs. 22,309,686/- g) In our opinion and to the best of our information and according to the explanations given to us, the said accounts read together with the significant accounting policies and Notes thereon give the information required by the Companies Act, 1956 in the manner so required and give true and fair view:- i. In the case of Balance Sheet of the State of Affairs of the Company as at 31st March, 2011; and ii. In the case of the Profit and Loss Accounts, of the Profit for the year ended on that date. iii. In the case of the Cash flow Statement, of the Cash Flows for the year ended on that date. ANNEXURE TO THE AUDITORS REPORT OF ARIHANT SUPERSTRUCTURES LIMITED. on the Financial Statements for the year ended March 31, 2011 Based on the audit procedures performed for the purpose of reporting a true and fair view on the Financial Statements of the Company and taking into consideration the information and explanations given to us and the Books of Account and other records examined by us in the normal course of audit, we report that: 1. a) The Company has maintained proper records showing full particulars, including quantitative details and situation of Fixed Assets; b) The Fixed Assets has been physically verified by the Management during the year. In our opinion, the frequency of verification of the Fixed Assets is reasonable having regards to the size of the Company and nature of its assets. No material discrepancies were noticed on such verification. c) In our opinion, a substantial part of Fixed Assets has not been disposed off during the year. 2. a) The Inventory includes land, flats, Incomplete Projects (WIP), and construction and development material and development rights in identified land. Physical verification of Inventory except stocks represented by development rights, confirmations for which have been obtained have been conducted at reasonable intervals by the Management. b) The procedures of physical verification of Inventory followed by the Management are reasonable and adequate in relation to the size of the Company and the nature of its business. c) The Company is maintaining proper records of Inventory and no material discrepancies were noticed on physical verification. The Physical verification of Inventory has been conducted at reasonable intervals by the Management. 3 a) During the year, the Company has given unsecured loans to three Subsidiary Companies. At the year end, the loans granted to three Subsidiaries aggregate to Rs. 1,698.76 Lakhs. The maximum balance outstanding during the year is Rs. 1,724.63 Lakhs. b) The rate of interest, and other terms and conditions of such loans are, in our opinion, prima facie not prejudicial to the interests of the Company. c) The receipts of Principal amounts and Interest have been as per stipulations. d) There is no amount overdue in respect of loans granted to Companies, Firms or other Parties listed in the register maintained under Section 301 of the Act. e) The Company has taken loans from two entities covered in the register maintained under Section 301 of the Act. The maximum amount outstanding during the year was Rs. 1,272.47 lacs and the year-end balance was Rs. 1,109.43 lacs. f) In our opinion, the rate of interest and other terms and conditions for such loans are, prima facie, not prejudicial to the interest of the Company. g) In respect of loans taken, the principal amount and interest amount are payable on demand in accordance with the terms and conditions, and payment of interest has been regular in accordance with such terms and conditions. 4 In our opinion, there is an adequate internal control system commensurate with the size of the Company and the nature of its business for the purchase of Inventory and Fixed Assets and for the sale of Goods and Services. 5 a) In our opinion, the particulars of all contracts or arrangements that need to be entered into the register maintained under Section 301 of the Act have been so entered. b) In our opinion, the transactions made in pursuance of such contracts or arrangements and exceeding the value of Rupees Five lakhs in respect of any party during the year have been made at prices which are reasonable having regard to prevailing market prices at the relevant time. 6 The Company has not accepted any public deposit in the year of audit. 7 In our opinion, the Company has an Internal Audit System commensurate with its size and the nature of its business. 8 According to information and explanations offered to us, Central Government has not prescribed any maintenance of cost records under clause (d) of sub-section (1) of section 209 of the Act. 9 According to the information and explanations given to us in respect of statutory dues: a) Undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees State Insurance, Income Tax, Sales Tax, Wealth Tax, Service Tax, Custom Duty Excise Duty, cess and other material statutory dues, as applicable, have generally been regularly deposited with the appropriate authorities. No undisputed amounts payable in respect thereof were outstanding at the year end for a period of more than six months from the date they became payable. b) There are no amounts in respect of Sales Tax, Income Tax, Customs Duty, Wealth Tax, Service Tax, Excise Duty and cess that have not been deposited with the appropriate authorities on account of any dispute 10 The Company has no accumulated losses at the end of the financial year and it has not incurred cash losses in the current and the immediately preceding financial year. 11 The Company has not defaulted in repayment of dues to a Financial Institution or a Bank or Debenture holders during the year. 12 The Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities. Accordingly, the provisions of clause 4 (xii) of the Order are not applicable. 13 In our opinion, the Company is not a Chit Fund or a Nidhi / Mutual Benefit Fund / Society. Accordingly, the provisions of clause 4(xiii) of the Order are not applicable. 14 In our opinion, the Company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly, the provisions of clause 4(xiv) of the Order are not applicable. 15 In our opinion, the terms and conditions on which the Company has given guarantee for loans taken by others from Banks or Financial Institutions are not, prima facie, prejudicial to the interest of the Company. 16 In our opinion and according to the information and explanations given to us, the Term Loans have been applied for the purpose for which they were raised. 17 On the overall examination of the Balance Sheet, in our opinion, no funds raised on short-term basis have been used for long-term investment. 18 The Company has made preferential allotment of shares to parties or companies covered in the register maintained under Section 301 of the Act and price at which shares have been issued, in our opinion, prima facie is not prejudicial to the interests of the Company 19 No debentures have been issued during the year. Accordingly the provisions of clause 4 (xix) of the order is not applicable. 20 The Company has not raised money by rights issues during the year. 21 No fraud on or by the Company has been noticed or reported during the period covered by our audit. For T N Gala & Associates Chartered Accountants FRN: 102951W Sd/- Talak N. Gala Proprietor MRN: 41186 Date : 05.05.2011 Place: Navi Mumbai