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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 05, 16:00
81.40 0.90 (1.12%)
Volume
AVERAGE VOLUME
5-Day
93,731
10-Day
119,551
30-Day
60,531
95,619
  • Prev. Close

    80.50

  • Open Price

    81.80

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Jun 05, 16:02
81.65 1.15 (1.43%)
Volume
AVERAGE VOLUME
5-Day
2,017,177
10-Day
2,478,054
30-Day
1,220,154
2,488,940
  • Prev. Close

    80.50

  • Open Price

    81.00

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    81.65 (7872)

Annual Report

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

Auditor's Report

We have audited the accompanying standalone financial statements of KPIT Technologies Limited (the Company), which comprise the Balance Sheet as at 31 March 2015, the Statement of Profit and Loss and the Cash Flow Statement for the year then ended, and a summary of the significant accounting policies and other explanatory information. Management''s Responsibility for the Standalone Financial Statements The Company''s Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 (the Act) with respect to the preparation of these standalone 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 the 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; and design, implementation and maintenance of adequate internal financial controls, that were 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 fairview 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 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 thereunder. We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) 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. An audit involves performing procedures to obtain audit evidence about the amounts and the 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 fairview in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on whether the Company has in place an adequate internal financial controls system over financial reporting and the operating effectiveness of such controls. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Company''s Directors, as well as evaluating the overall presentation ofthe financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the standalone financial statements. Opinion In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone 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 2015, and its profit and its cash flows for the year ended on that date. Report on Other Legal and Regulatory Requirements 1. As required by the Companies (Auditor''s Report) Order, 2015 (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 statement on the matters specified in paragraphs 3 and 4 of the Order. 2. As required by Section 143 (3) of the Act, we 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 purposes of our audit. (b) In our opinion, proper books of account as required by the law have been kept by the Company so far as it appears from our examination of those books. (c) The Balance Sheet, the Statement of Profit and Loss and the 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 Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. (e) On the basis of the written representations received from the directors as on 31 March 2015 taken on record by the Board of Directors, none of the directors is disqualified as on 31 March 2015 from being appointed as a director in terms of Section 164 (2) of the Act. (f) With respect to the other matters to be included in the Auditor''s Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us: i. The Company has disclosed the impact of pending litigations on its financial position in its standalone financial statements - Refer Note 30 to the standalone financial statements; ii. The Company did not have any long-term contracts including derivative contracts forwhich there were any material foreseeable losses; and iii. There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the Company. Annexure to the Independent Auditors'' Report - 31 March 2015 With reference to the Annexure referred to in paragraph 1 in Report on Other Legal and Regulatory Requirements of the Independent Auditors'' Report to the members of the Company on the standalone financial statements for the year ended 31 March 2015, we report that: (i) (a) The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets. (b) The Company has a regular program of physical verification of its fixed assets by which its fixed assets are verified in a phased manner every year. In our opinion, this periodicity of physical verification is reasonable having regard to the size of the Company and the nature of its fixed assets. No material discrepancies were noticed on such verification. (ii) (a) The inventory has been physically verified by the management during the year. In our opinion, the frequency of such verification is reasonable. (b) In our opinion and according to the information and explanations given to us, the procedures for physical verification of inventories adopted by the management are reasonable and adequate in relation to the size of the Company and nature of its business. (c) The Company is maintaining proper records of inventory. There are no discrepancies noticed on verification between the physical stocks and book records. (iii) The Company has granted unsecured loans to two body corporates covered in the register maintained under section 189 of the Act. In our opinion and according to the information and explanations given to us, principal amounts along with interest are received on a regular basis and there are no amounts overdue. (iv) In our opinion and according to the information and explanations given to us, and having regard to the explanation that purchase of certain types of inventories and fixed assets are for the Company''s specialised requirements and similarly most of the services rendered and goods sold are for the specialized requirements of the buyers and suitable alternative sources are not available to obtain comparable quotations, there is an adequate internal control system commensurate with the size of the Company and the nature of its business with regard to purchase of fixed assets and inventories and with regard to the sale of goods and services. We have not observed any major weakness in the internal control system during the course of the audit. (v) The Company has not accepted any deposits from the public. (vi) The Central Government has not prescribed the maintenance of cost records under section 148(1) of the Act, for any of the services rendered by the Company. (vii) (a) According to the information and explanations given to us and on the basis of our examination of the records of the Company, amounts deducted / accrued in the books of account in respect of undisputed statutory dues including Provident fund, Income tax, Wealth tax, Service tax, Customs duty, Excise duty, Sales tax, Employees'' State Insurance, Investor Education and Protection Fund and other material statutory dues have generally been regularly deposited during the year by the Company with the appropriate authorities. According to the information and explanations given to us, no undisputed amounts payable in respect of Provident fund, Income tax, Wealth tax, Service tax, Customs duty, Excise duty, Sales tax, Employees'' State Insurance, Investor Education and Protection Fund and other material statutory dues were in arrears as at 31 March 2015, for a period of more than six months from the date they became payable. (b) According to the information and explanations given to us there are no dues of Income tax, Wealth tax, Service tax, Sales tax, Customs duty and Excise duty which have not been deposited by the Company on account of disputes except for the following: Name of the Statute Nature of Forum where the dispute is pending Dues Income Tax Act, 1961 Income Tax IncomeTaxAppellate Tribunal Income Tax Act, 1961 Income Tax Commissioner of IncomeTaxAppeals Income Tax Act, 1961 Income Tax AssistantCommissionerof IncomeTax Finance Act, 1994 Service tax Central Excise & Service Tax Appellate Tribunal Finance Act, 1994 Service tax Commissioner of Service Tax Central Sales Tax Sales Tax Commissioner of Sales Tax Act, 1956 Name of the Statue Period to which Amount the amount demanded relates Income Tax Act, 1961 2005-10 56,802,304 Income Tax Act, 1961 2007 and 2011 42,58,921 Income Tax Act, 1961 2010-11 11,752,540 Finance Act, 1994 October 2006 to 309,935,701 December 2012 Finance Act, 1994 October 2006 to 240,136,538 March 2014 Central Sales Tax 2008 - 09 and 1,535,981 Act, 1956 2010-11 (c) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company has transferred the amount required to be transferred to investor education and protection fund in accordance with the relevant provisions of the Companies Act, 1956 (1 of 1956) and rules there under on a timely manner. (viii) The Company does not have any accumulated losses at the end of the financial year and has not incurred cash losses in the financial year and in the immediately preceding financial year. (ix) In our opinion and according to the information and explanations given to us, the Company has not defaulted in repayment of dues to its banks and financial institutions. The Company did not have any debentures outstanding during the year. (x) In our opinion and according to the information and the explanations given to us, 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. (xi) In our opinion and according to the information and the explanations given to us, the term loans taken by the Company have been applied forthe purpose forwhich theywere raised. (xii) According to the information and explanations given to us, no fraud on or by the Company has been noticed or reported during the year. For BSR&Co. LLP Chartered Accountants Firm Registration No: 101248W/W-100022 Juzer Miyajiwala Place: Pune Partner Date: 28 April 2015 Membership No.: 047483