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GE T&D India Ltd.

BSE: 522275 | NSE: GET&D |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE200A01026 | SECTOR: Power - Transmission & Equipment

BSE Live

Sep 17, 16:00
131.85 -1.15 (-0.86%)
Volume
AVERAGE VOLUME
5-Day
11,325
10-Day
21,484
30-Day
33,705
5,140
  • Prev. Close

    133.00

  • Open Price

    134.25

  • Bid Price (Qty.)

    131.85 (100)

  • Offer Price (Qty.)

    131.85 (100)

NSE Live

Sep 17, 15:58
131.75 -1.30 (-0.98%)
Volume
AVERAGE VOLUME
5-Day
145,809
10-Day
194,673
30-Day
420,273
142,495
  • Prev. Close

    133.05

  • Open Price

    134.75

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    131.75 (596)

Annual Report

For Year :
2019 2017 2016 2015 2014 2013 2012 2010 2009

Auditor's Report

1. We have audited the attached Balance Sheet of ALSTOM T&D India Limited (formerly AREVA T&D India Limited) (the Company) as at March 31, 2012, and the related Profit and Loss Account for the fifteen months period from January 1, 2011 to March 31, 2012 (the period) and the Cash Flow Statement for the period ended on that date annexed thereto, which we have signed under reference to this report. These financial statements are the responsibility of the Company''s Management. Our responsibility is to express an opinion on these financial statements based on our audit. 2. 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 misstatement. 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. 3. As described in Note 5 on Schedule 19, the distribution business of the Company was demerged with the appointed date of April l, 2011. We did not audit the financial results of Company''s branches and establishments engaged in production, processing and manufacturing of Company''s distribution products, at its Units located at Vadodara, Kolkata, Noida and Naini (Allahabad) considered in the preparation of the financial statements and which constitute total revenue of Rs. 2,449,787 thousand and net profit before tax of Rs. 5,518 thousand within the period ended March 31, 2012 relating to the demerged business. Those financial information have been audited by a Branch Auditor whose report has been furnished to us in accordance with Section 228(3)(c) and have been appropriately considered in preparing this Report and our opinion on the financial statements to the extent they have been derived from such financial information, is based solely on the report of such Branch Auditor. 4. As required by the Companies (Auditor''s Report) Order, 2003, as amended by the Companies (Auditor''s Report) (Amendment) Order, 2004 (together the Order), issued by the Central Government of India in terms of sub-section (4A) of Section 227 of'' The Companies Act, 1956'' of India (the ''Act'') and on the basis of such checks of the books and records of the Company as we considered appropriate and according to the information and explanations given to us, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the Order. 5. Further to our comments in paragraph 3 above and the Annexure referred to in paragraph 4 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 Act; (e) On the basis of written representations received from the directors, as on March 31, 2012 and taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2012 from being appointed as a director in terms of clause (g) of sub-section (l) of Section 274 of the Act; (f) In our opinion and to the best of our information and according to the explanations given to us, they said financial statements together with the notes thereon and attached thereto give, in the prescribed manner, the information required by the Act, 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 31,2012; (ii) in the case of the Profit and Loss Account, of the profit for the period ended on that date; and (iii) in the case of the Cash Flow Statement, of the cash flows for the period ended on that date. 1. (a) The Company is maintaining proper records showing full particulars, including quantitative details and situation, of fixed assets. (b) The fixed assets are physically verified by the Management according to a phased programme designed to cover all the items over a period of three years which, in our opinion, is reasonable having regard to the size of the Company and the nature of its assets. Pursuant to the programme, a portion of the fixed assets has been physically verified by the Management during the period and no material discrepancies between the book records and the physical inventory have been noticed. (c) The Company has disposed of a substantial part of fixed assets, relating to the distribution business pursuant to a Scheme approved by the Court, during the period (Refer Notes on schedule 19). On the basis of our examination of the books and records of the Company, and according to the information and explanations given to us, in our opinion, the disposal of the said part of fixed assets has not affected the going concern status of the Company. 2. (a) The inventory (excluding stocks with third parties) has been physically verified by the Management at the period end. In respect of inventory lying with third parties, these have substantially been confirmed by them. In our opinion, the frequency of verification is reasonable. (b) In our opinion, 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) On the basis of our examination of the inventory records, in our opinion, the Company is maintaining proper records of inventory. The discrepancies noticed on physical verification of inventory as compared to book records were not material. 3. The Company has neither taken nor granted any loans, secured or unsecured, to companies, firms or other parties covered in the register maintained under Section 301 of the Act. Accordingly, clauses iii (b) to iii (d), iii(f) and iii (g) are not applicable. 4. In our opinion and according to the information and explanations given to us, having regard to the explanation that certain items purchased are of special nature for which suitable alternative sources do not exist for obtaining comparative quotations, 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, fixed assets and for the sale of goods and services. Further, on the basis of our examination of the books and records of the Company, and according to the information and explanations given to us, we have neither come across nor have been informed of any continuing failure to correct major weaknesses in the aforesaid internal control system. 5. According to the information and explanations given to us, there have been no contracts or arrangements referred to in Section 301 of the Act during the period to be entered in the register required to be maintained under that Section. Accordingly, the question of commenting on transactions made in pursuance of such contracts or arrangements does not arise. 6. The Company has not accepted any deposits from the public within the meaning of Sections 58A and 58AAoftheActandthe rules framed there under. 7. In our opinion, the Company has an internal audit system commensurate with its size and the nature of its business. 8. We have broadly reviewed the books of account maintained by the Company pursuant to the Rules made by the Central Government of India for the maintenance of cost records prescribed under clause (d) of sub-section (l) of Section 209 of the Act in respect of the production and processing activities of the Company and are of the opinion that prima facie, the prescribed accounts and records have been made and maintained. We have not, however, made a detailed examination of the records with a view to determine whether they are accurate or complete. 9. (a) According to the information and explanations given to us and the records of the Company examined by us, in our opinion, the Company is regular in depositing the undisputed statutory dues, including provident fund, investor education and protection fund, employees'' state insurance, income tax, sales tax, wealth tax, service tax, customs duty, excise duty, cess and other material statutory dues, as applicable, with the appropriate authorities. (b) According to the information and explanations given to us and the records of the Company examined by us, there are no dues of income-tax, wealth-tax, customs duty and cess as at March 31, 2012 which have not been deposited on account of any dispute. The particulars of dues of sales-tax, service-tax and excise duty as at March 31, 2012 which have not been deposited on account of a dispute, are as follows: Name of the Statue Nature of dues Amount of demand period From where The Central Excise duty including interest 44,401 * 1996-97, 1998-99, Appellate Authority- Excise Act, 1944 and penalty as applicable 1990-91, 2003-04, upto Commis sioner level 2010-11 and 2011-12 2008-09 to 2011-12 Central Excise and Service Tax Appellate Tribunal 2008-09 and 2009-10 Madras High Court, Service Tax Service tax including interest 322,541** 2008-09, 2010-11 & Appellate Authority -upto (Finance Act, 1994) and penalty as applicable 2011-12 Commis sioner level 2005-06, 2007-08, Central Excise and Service Tax 2008-09, 2010-11 and Appellate Tribunal 2011-12 2009-10 Madras High Court Central Sales Tax Act Sales tax including interest 526,398*** 1986-87, 1988-89 to Appellate Authority -upto and Local Sales Tax Acts and penalty as applicable 1990-91, 1992-93, 1993-94, Commis sioner level (including works 1998-99, 2000-01 to contract tax) 2009-10, 2011-12 1983-84, 1986-87 and Sales Tax Appellate Tribunal 1991-92 *Amount deposited against the demand is Rs. 1,340 thousands. **Amount deposited against the demand is Rs. 242 thousands. ***Amount deposited against the demand is Rs. 127,526 thousands. 10. The Company has no accumulated losses as at March 31,2012 and it has not incurred any cash losses in the financial period ended on that date or in the immediately preceding financial year. 11. According to the records of the Company examined by us and the information and explanation given to us, the Company has not defaulted in repayment of dues to its bankers or to any financial institutions as at the balance sheet date. The Company did not have any outstanding debentures as at the balance sheet date. 12. The Company has not granted any loans and advances on the basis of security byway of pledge of shares, debentures and other securities. 13. The provisions of any special statute applicable to chit fund / nidhi / mutual benefit fund/societies are not applicable to the Company. 14. In our opinion, the Company is not a dealer or trader in shares, securities, debentures and other investments. 15. In our opinion, and according to the information and explanations given to us, the Company has not given any guarantee for loanstaken by others from banksor financial institutions during the period. 16. In our opinion, and according to the information and explanations given to us, the term loans have been applied, on an overall basis, for the purposes for which they were obtained. 17. On the basis of an overall examination of the Balance Sheet of the Company, in our opinion and according to the information and explanations given to us, there are no funds raised on a short-term basis which have been used for long-term investment. 18. The Company has not made any preferential allotment of shares to parties and companies covered in the register maintained under Section 301 of the Act during the period. 19. The Company has not issued any debentures during the period; and does not have any debentures outstanding as at the period end. 20. The Company has not raised any money by public issues during the period. 21. During the course of our examination of the books and records of the Company, carried out in accordance with the generally accepted auditing practices in India, and according to the information and explanations given to us, we have neither come across any instance of material fraud on or by the Company, noticed or reported during the period, nor have we been informed of such case by the Management. For Price Waterhouse FRN No.: 012754N Chartered Accountants Suchita Sharma New Delhi Partner May 14, 2012 Membership Number 73897