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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

Jun 01, 14:28
77.10 2.95 (3.98%)
Volume
AVERAGE VOLUME
5-Day
90,005
10-Day
94,287
30-Day
53,203
77,324
  • Prev. Close

    74.15

  • Open Price

    75.20

  • Bid Price (Qty.)

    76.95 (237)

  • Offer Price (Qty.)

    77.10 (232)

NSE Live

Jun 01, 14:28
77.00 2.50 (3.36%)
Volume
AVERAGE VOLUME
5-Day
2,023,383
10-Day
2,017,477
30-Day
1,060,044
1,286,092
  • Prev. Close

    74.50

  • Open Price

    75.20

  • Bid Price (Qty.)

    77.00 (678)

  • Offer Price (Qty.)

    77.10 (318)

Annual Report

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

Auditor's Report

We conducted our audit in accordance with the 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 the disclosures in the financial statements. An audit also includes assessing the accounting principles used and the significant estimates made by the 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 (CARO), issued by the Central Government in terms of Section 227(4A) 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 3 above, we report as follows: (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 it appears from our examination of those books; (c) the Balance Sheet, the Profit and Loss Account and the Cash Flow Statement dealt with by this report are in agreement with the books of account; (d) in our opinion, the Balance Sheet, the Profit and Loss Account and the Cash Flow Statement dealt with by this report are in compliance with the Accounting Standards referred to in Section 211(3C) of the Companies Act, 1956; (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 March 31, 2010; (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 of the Company for the year ended on that date. 3. On the basis of the written representations received from the directors as on March 31, 2010 taken on record by the Board of Directors, none of the Directors is disqualified as on March 31, 2010 from being appointed as a director in terms of Section 274 (1) (g) of the Companies Act, 1956. Annexure to the auditors report (Referred to in paragraph 3 of our report of even date) (i) Having regard to the nature of the Companys business, Clauses (ii), (viii), (x),(xiii), (xiv) of CARO are not applicable. (ii) In respect of its fixed assets: (a) The Company has maintained proper records showing full particulars, including quantitative details and situation of the fixed assets. (b) The fixed assets were physically verified during the year by the Management in accordance with a regular 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 off during the year, in our opinion, do not constitute a 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. (iii) The Company has neither granted nor taken any loans, secured or unsecured to/from companies, firms or other parties listed in the Register maintained under Section 301 of the Companies Act, 1956. (iv) In our opinion and according to the information and explanations given to us, there is an adequate internal control system 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 major weakness in such internal control system. (v) In respect of contracts or arrangements entered in the Register maintained in pursuance of Section 301 of the Companies Act, 1956, to the best of our knowledge and belief and according to the information and explanations given to us: (a) The particulars of contracts or arrangements referred to in Section 301 that needed to be entered in the Register maintained under the said section have been so entered. (b) Since the value of the said transaction does not exceed Rupees five lakhs, the information required under Clause (v)(b) of Paragraph 4 of the Companies (Auditors Report) Order, 2003 is not applicable to the Company. (vi) According to the information and explanations given to us, the Company has not accepted any deposit from the public during the year. (vii) In our opinion, the Company has an adequate internal audit system commensurate with the size and the nature of its business. (viii) According to the information and explanations given to us in respect of statutory dues: (a) The Company has generally been regular in depositing undisputed dues, including Provident Fund, Employees State Insurance, Income Tax, Investor Education and Protection Fund, Sales-tax, Service Tax, Wealth Tax, Customs Duty, Cess and any other material statutory dues applicable to it with the appropriate authorities during the year. (b) There were no undisputed amounts payable in respect of Provident Fund, Income Tax, Sales Tax, Wealth Tax, Customs Duty, Service Tax, Cess and other material statutory dues in arrears as at March 31, 2010 for a period of more than six months from the date they became payable. (c) Details of dues of income tax which have not been deposited as on March 31, 2010 on account of any dispute are given below: Name of the Statute Nature of Amount involved dues (Rs. lakhs) The Income Tax Act, 1961 Income Tax 34.41 Indian Customs Act, 1962 Customs Duty 8.05 Name of the Period to which the Forum where the dispute is pending Statue amount relates The Income Tax Act,1961 A. Y. 2007-08 Commissioner of Income Tax (Appeals)-I, Bangalore Indian customs Act,1962 Various Commissioner of Customs (Appeals) Further, the Company has received a show cause notice from Directorate General of Central Excise Intelligence, Bangalore during the year 2006-07, 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 these 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. During the year 2008-09 the Company has filed an appeal with the Customs, Excise and Service Tax Appellate Tribunal South Zonal Bench (CESTAT), Bangalore. On January 30, 2009, CESTAT has passed the stay order granting the Company waiver from depositing further amounts till the disposal of the above appeal (ix) In our opinion and according to the information and explanations given to us, the Company has not defaulted in the repayment of dues to banks and financial institutions. (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 Company has not given any guarantee for loans taken by others from banks or financial institutions. (xii) In our opinion and according to the information and explanations given to us, the term loans have been applied for the purposes for which they were obtained other than amounts temporarily invested pending utilization of the funds for the intended use. (xiii) In our opinion and according to the information and explanations given to us and on an overall examination of the Balance Sheet, we report that funds raised on short-term basis have not been used during the year 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, during the period covered by our audit report, the Company had 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 according to the information and explanations given to us, no fraud by the Company and no fraud on the Company has been noticed or reported during the year. For DELOITTE HASKINS & SELLS Chartered Accountants (Registration No. 117 366W) Hemant M. Joshi Partner (Membership No. 38019) Place: Pune Date: May 7, 2010