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Birlasoft Ltd.

BSE: 532400 | NSE: BSOFT |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE836A01035 | SECTOR: Computers - Software Medium & Small

BSE Live

Jul 14, 09:16
102.50 -0.85 (-0.82%)
Volume
AVERAGE VOLUME
5-Day
207,149
10-Day
138,500
30-Day
116,411
5,877
  • Prev. Close

    103.35

  • Open Price

    103.90

  • Bid Price (Qty.)

    101.80 (157)

  • Offer Price (Qty.)

    102.05 (15)

NSE Live

Jul 14, 09:16
102.00 -1.45 (-1.40%)
Volume
AVERAGE VOLUME
5-Day
2,990,910
10-Day
1,901,188
30-Day
1,642,949
70,649
  • Prev. Close

    103.45

  • Open Price

    103.90

  • Bid Price (Qty.)

    101.70 (196)

  • Offer Price (Qty.)

    101.95 (15)

Annual Report

For Year :
2018 2017 2016 2015 2014 2013 2012 2011 2010

Auditor's Report

We have audited the attached Balance Sheet of KPIT CUMMINS INFOSYSTEMS LIMITED as at 31st March 2007 and also the Profit and Loss Account and the Cash Flow Statement of the Company for the year ended on that date both annexed thereto. 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 conducted our audit in accordance with auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatements. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. 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 reasonable basis for our opinion. 1) As required by the Companies (Auditors Report) Order, 2003, issued by the Central Government of India in terms of sub-section (4A) of Section 227 of the Companies Act, 1956, we enclose in the Annexure a statement on the matters specified in paragraphs 4 & 5 of the said Order, to the extent applicable to the Company. 2) On the basis of written representations received from the directors, as on 31st March 2007 and taken on record by the Board of Directors, we report that none of the directors from whom such representations have been received, is disqualified as on 31st March 2007 from being appointed as a director in terms of clause (g) of sub- section (1) of Section 274 of the Companies Act, 1956. 3) Further to our comments in the Annexure referred to in paragraph 1 above, 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 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 appears from our examination of those books; (c) the Balance Sheet, Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account; (d) in our opinion, the Balance Sheet, Profit and Loss Account and Cash Flow Statement dealt with by this report comply with the Accounting Standards referred to in sub-section (3C) of Section 211 of the Companies Act, 1956, in so far as they apply to the Company; and (e) in our opinion and to the best of our information and according to explanations given to us, the said accounts give the information required by the Companies Act, 1956, in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India: (i) in the case of the Balance Sheet, of the state of affairs of the Company as at 31st March, 2007; (ii) in the case of the Profit and Loss Account, of the profit of the Company for the year ended on that date; and (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 (Referred to in paragraph 1 of our report of even date) The nature of the Companys business/activities during the year is such that clauses (ii), (viii), (xiii), (xiv) are not applicable to the Company. (i) In respect of its fixed assets: (a) The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets. (b) The fixed assets were physically verified during the year by the management in accordance with a programme of verification, which in our opinion provides for physical verification of all the fixed assets at reasonable intervals. According to the information and explanations given to us no material discrepancies were noticed on such verification. (c) The fixed assets disposed of during the year, in our opinion, do not constitute substantial part of the fixed assets of the Company and such disposal has, in our opinion, not affected the going, concern status of the Company. (ii) (a) According to the information and explanations given to us, the Company has not granted any loans, secured or unsecured to companies, firms or other parties covered in the register maintained under Section 301 of the Companies Act, 1956. Accordingly sub-clauses (b), (c) & (d) of clause (iii) are not applicable. (e) According to the information and explanations given to us, the Company has not taken any loans, secured or unsecured from companies, firms or other parties covered in the register maintained under Section 301 of the Companies Act, 1956. Accordingly sub-clauses (f) & (g) of clause (iii) are not applicable. (iii) 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 fixed assets and for the sale of services. The activities of the Company do not involve purchase of inventory and sale of goods. During the course of our audit we have not observed any continuing failure to correct major weaknesses in the internal control system. (iv) In respect of contracts or arrangements entered in the register maintained in pursuance of Section 301 of the Companies Act 1956: (a) To the best of our knowledge and belief and according to the information and explanations given to us, particulars of contracts or arrangements that needed to be entered into the register have been so entered. (b) According to the information and explanations given to us, the transactions of purchase of services, in excess of Rupees Five Lakhs in respect of a party, made in pursuance of such contracts or arrangements are of a special nature for which comparable quotations are not available in the absence of similar transactions with other parties. Accordingly, we are unable to comment whether the transactions have been made at prices which are prima facie reasonable having regard to the prevailing market prices at the relevant time. (v) According to the information and explanations given to us, the Company has not accepted deposits from the public and hence, the directives issued by the Reserve Bank of India and the provisions of Sections 58A and 58AA or any other relevant provisions of the Act and rules framed thereunder, are not applicable to the Company. (vi) In our opinion, the internal audit functions carried out during the year by a firm of Chartered Accountants appointed by the management have been commensurate with the size of the Company and the nature of its business. (vii) In respect of Statutory dues (a) According to the information and explanations given to us, the Company has been generally regular in depositing undisputed statutory dues, including Provident Fund, Employees State Insurance, Income Tax, Investor Education and Protection Fund, Sales Tax, Service Tax, Wealth Tax, Custom Duty, and any other statutory dues with the appropriate authorities during the year. The Company is not regular in depositing Labour Welfare Fund dues. Further, there were no arrears of any undisputed statutory dues outstanding as at March 31, 2007 for a period of more than six months from the date they became payable. (b) The Company has received a show cause notice from Directorate General of Central Excise Intelligence, Bangalore for non-payment of service tax on account of payments made to its subsidiaries based outside India for rendering services outside India. The revenue authorities have classified the services as that of a Commission Agent falling under the category of Business Auxiliary Services and quantified the liability at Rs. 499 lakhs which is being contested by the Company. (viii) The Company does not have any accumulated losses as at the end of the financial year and has not incurred cash losses during the financial year covered by our audit and the immediately preceding financial year. (ix) Based on our audit procedures and on the information and explanations given by the management, we are of the opinion that the Company has not defaulted in the repayment of dues to financial institutions and banks. The Company has not issued any debentures. (x) In our opinion and according to the information and explanations given to us, the Company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities. (xi) According to the information and explanations given to us, the terms and conditions of the guarantee given by the Company for loans taken by others from banks or financial institutions, are prima facie not prejudicial to the interests of the Company. (xii) 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 other than amounts temporarily invested pending utilization of the funds for the intended use. (xiii) On the basis of information and explanations given to us, and on the basis of an overall examination of the Balance Sheet of the Company, funds raised on short-term basis have prima facie not been used for long-term investment. (xiv) According to the information and explanations given to us, the Company has not made any preferential allotment of shares to parties and companies covered in the Register maintained under Section 301 of the Companies Act, 1956. (xv) According to the information and explanations given to us, the Company has not issued any secured debentures, (xvi) According to the information and explanations given to us, the Company has not raised any money by public issue. (xvii)To the best of our knowledge and belief and according to the information and explanations given to us, no fraud on or by the Company was noticed or reported during the year. For DELOITTE HASKINS a SELLS Chartered Accountants Hemant M. Joshi Partner Pune, April 26, 2007 Membership No: 38019