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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
244,947
10-Day
301,901
30-Day
246,940
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

Report on the Financial Statements We have audited the accompanying Financial Statements of ARIHANT SUPERSTRUCTURES LIMITED (''the Company'') which comprise the Balance Sheet as at 3Ist March 20I3, the Statement of Profit & Loss and the Cash Flow Statement for the year ended on that date and a summary of significant accounting policies and other explanatory information. Management''s responsibility for the Financial Statements Management is responsible for the preparation of these Financial Statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in the accordance with Accounting Standard referred in sub- section (3C) of section 2II of the Companies Act of I956 (the Act). This responsibility includes the design, implementation and maintenance of internal control 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 Our responsibility is to express an opinion on these Financial Statements based on our audit. We conduct our audit in accordance with the standard on Auditing issued by the Institute of Chartered Accountants of India. 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. 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 assessment, the auditor considers internal control relevant to the Company''s preparation and fair presentation of the Financial Statements 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 management, as well as evaluating the overall presentation of Financial Statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide the basis for our audit opinion. Opinion In our opinion and to the best of our information and according to the explanations given to us, the 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 principle generally accepted in India: i. in the case of the Balance Sheet, of the state of affairs of the company as at 3Ist March, 20I3; ii. In the case of the Statement of Profit & Loss, 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. Report on Other Legal and Regulatory Requirement 1. As required by the Companies (Auditors'' Report) Order, 2003 (the Order), as amended, issued by the Central Government of India in terms of sub-section (4A) of section 227 of the Act, we give in the Annexure, a Statement on the matters specified in paragraphs 4 and 5 of the Order. 2. As required by section 227(3) of the Act ,we report 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 appears from our examination of books; c) The Balance Sheet, Statement of Profit & Loss and Cash Flow Statement dealt with by this report are in agreement with the Books of Account; d) In our opinion, the Balance Sheet, Statement of Profit & Loss and Cash Flow Statement comply with the Accounting Standards referred in sub - section (3C) of the section 2II of the Companies Act, I956; and e) On the basis of the written representations received from the Directors as on 3I March 20I3 and taken on record by the Board of Directors, and none of directors is disqualified as on 3I March 20I3 from being appointed as Director in terms of clause (g) of sub-section (I) of Section 274 of the Companies Act, I956. Annexure to the Auditors'' Report of ARIHANT SUPERSTRUCTURE LIMITED, on the Financial Statements for the year ended March 31, 2013 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 is maintaining proper records showing full particulars, including quantitative details and situation of Fixed Assets; b) Fixed Assets have been physically verified by the Management. 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 management has conducted physical verification of inventory at reasonable intervals. 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) As per the explanation provided by the management the Company is maintaining proper records of Inventory and no discrepancies were noticed on verification between physical inventories and book records. 3 a) The Company has granted unsecured loans to its six Subsidiary Companies. The maximum balance outstanding during the year was Rs. 8,663.27 Lakhs and year end balance of such loans amounted to Rs.7,478.70 Lakhs. b) In our opinion, the rate of interest, and other terms and conditions of such loans are 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 30I of the Act. e) The Company has taken loans from one entity covered in the register maintained under Section 30I of the Act. The maximum amount outstanding during the year was Rs. 2,657.07 Lakhs and the year-end balance was Rs. 2,485.56 Lakhs. 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 company is regular in repaying the principal amounts and interest as per the terms and conditions agreed. 4 In our opinion and according to the information and explanations given to us, there are adequate internal control procedures commensurate with the size of the Company and the nature of its business, for the purchase of inventory, fixed assets and for the sale of property. During the course of our audit, no major weakness has been noticed in the internal controls. 5 a) Based on the audit procedures applied by us and according to the information and explanations provided by the management, we are of the opinion that the transactions that need to be entered into the register maintained under Section 30I of the Companies Act, I956 have been so entered. b) Such transactions have been made at prices which are reasonable having regard to the prevailing market prices at the relevant time. 6 In our opinion and according to the information and explanations given to us, the Company has not accepted any deposit from the public within the meaning of Section 58A and 58AA of the Companies Act, I956 and the rules framed there under. 7 In our opinion, the Company has an adequate Internal Audit System commensurate with its size and the nature of its business. 8 We have broadly reviewed the cost records maintained by the Company pursuant to the Companies (Cost Accounting Records) Rules, 2011 prescribed by the Central Government under section 209(1) (d) of the Companies Act, 1956 and are of the opinion that prima facie the prescribed cost records have been maintained. We have, however, not made a detailed examination of the records with a view to determine whether they are accurate or complete. 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 guarantees for loans taken by others from Banks or Financial Institutions are not prejudicial to the interest of the Company. 16 According to the information and explanations given to us, term loans were applied for the purpose for which the loans were obtained. 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 not made any preferential allotment of shares to parties or companies covered in the register maintained under Section 30I of the Act during the year. 19 No debentures have been issued during the year. Accordingly the provisions of clause 4 (xix) of the order is not applicable. 20 We have verified the end use of money raised by right issue from the draft prospectus filed with SEBI, the offer document and as disclosed in the notes to the financial statements. 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/- Talakchand N. Gala Place: Navi Mumbai Proprietor Date: 11.05.2013 MRN: 41186