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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 20, 16:00
130.65 -1.20 (-0.91%)
Volume
AVERAGE VOLUME
5-Day
10,646
10-Day
14,138
30-Day
32,967
15,227
  • Prev. Close

    131.85

  • Open Price

    131.85

  • Bid Price (Qty.)

    129.95 (135)

  • Offer Price (Qty.)

    130.40 (50)

NSE Live

Sep 20, 15:53
130.40 -1.35 (-1.02%)
Volume
AVERAGE VOLUME
5-Day
140,962
10-Day
143,795
30-Day
418,651
110,143
  • Prev. Close

    131.75

  • Open Price

    131.70

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    130.40 (705)

Annual Report

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

Auditor's Report

1. We have audited the accompanying financial statements of Alstom T&D India Limited (the Company), which comprise the Balance Sheet as at March 31, 2015, the Statement of Profit and Loss, the Cash Flow Statement, and a summary of the significant accounting policies and other explanatory information for the year then ended. Management''s Responsibility for the Financial Statements 2. 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 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 fair view and are free from material misstatement, whether due to fraud or error. Auditors'' Responsibility 3. 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. 4. 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 fair view 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 control 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 of the financial statements. 5. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the financial statements. Opinion 6. In our opinion and to the best of our information and according to the explanations given to us, the aforesaid 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 March 31, 2015, and its profit and its cash flows for the year ended on that date. Report on Other Legal and Regulatory Requirements 7. As required by ''the Companies (Auditors'' Report) Order, 2015'', issued by the Central Government of India in terms of sub-section (11) of section 143 of the Companies Act, 2013, (hereinafter referred to as the Order), we give in the Annexure a statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent applicable. 8. 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 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 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 March 31, 2015 taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 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 Auditors'' 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 financial statements - Refer Note 10 and 30 to the financial statements. (ii) The Company has made provision, as required under the applicable law or accounting standards, for material foreseeable losses, if any, on long-term contracts including derivative contracts - Refer Note 8 and 10 to the financial statements. (iii) There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the Company. (i) (a) The Company has maintained 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 year. According to the information and explanations given to us, no material discrepancies were noticed on such verification. (ii) (a) The inventory [excluding stocks with third parties] has been physically verified by the management during the year. 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 books of account were not material. (iii) The Company has not granted any loans, secured or unsecured to companies, firms or other parties covered in the register maintained under section 189 of the Act. Therefore, the provisions of clause 3 (iii) of the Order are not applicable to the Company. (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 inventory and 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. (v) According to the information and explanations given to us, the Company has not accepted any deposits within the meaning of sections 73 to 76 of the Act. (vi) We have broadly reviewed the books of account maintained by the Company pursuant to the Rules made by the Central Government for maintenance of cost records under sub-section (1) of Section 148 of the Companies Act, 2013 and are of the opinion that, prima facie, the prescribed accounts and records have been made and maintained. We have, however, not made a detailed examination of the cost records with a view to determine whether they are accurate or complete. (vii) (a) According to the information and explanations given to us and the records of the Company examined by us, in our opinion, undisputed statutory dues including income tax, provident fund, employees'' state insurance, sales tax, wealth tax, service tax, duty of customs, duty of excise, value added tax, cess and other material statutory dues, as applicable to the Company, have generally been regularly deposited with the appropriate authorities. According to the information and explanations given to us, no undisputed statutory dues including income tax, provident fund, employees'' state insurance, sales tax, wealth tax, service tax, duty of customs, duty of excise, value added tax, cess and other material statutory dues, as applicable to the Company were in arrears as at March 31, 2015 for a period of more than six months from the date those became payable. (b) According to the information and explanations given to us and the records of the Company examined by us, there are no dues of wealth tax and duty of customs which have not been deposited on account of any dispute. The particulars of dues of income tax, sales tax, service tax, and excise duty as at March 31, 2015 which have not been deposited on account of a dispute are as follows: Name of the Statute Nature of dues Amount of demand (Rs. million) The Central Excise Excise duty including 76 Act, 1944 interest and penalty as applicable 323(2) 440.3(3) Service Tax (Finance Service Tax including 0.2 Act, 1994) interest and penalty as applicable 584.8(4) Central Sales Tax Act Sales tax including 1,776.7(5) and Local Sales Tax interest and penalty Acts (including Works as applicable Contract Tax) 60.6(6) Income tax Act, Income tax including 26.78 1961 interest as applicable 100.83 367.9 573.8 Name of the Statute Period (FY) Forum where dispute is pending The Central Excise Act 1990-91, 1996-97, 1998-99, Appellate Authority-up 1944 2003-04, 2013-14 & 2014-15 to Commissioner level 2008-09 to 2012-13 Central Excise and Service Tax Appellate Tribunal 2008-09, 2014-15 Madras High Court Service Tax (Finance 2009-10 Madras High Court Act 1994 2005-06, 2007-08, 2008-09 Central Excise and Service 2010-11 to 2013-14 Tax Appellate Tribunal Central Sales TAx Act 1988-89, 1989-90, 1990-91 Appellate Authority-up and local Sales Tax 1992-93, 1993-94, 1998-99 to Commissioner level Acts Including Works 2000-01 to 2012-13, 2014-15 Contract Tax) 1983-84, 1986-87, 1987-88 Sales Tax Appellate 1988-89, 1991-92,2008-09 Tribunal Income Tax Act 1961 2006-07 Commissioner of 2008- 09 Income Tax (Appeals) 2009- 10 2010- 11 (1)Amount deposited against the demand is Rs. 0.7 million. (2)Amount deposited against the demand is Rs. 4.3 million. (3)Amount deposited against the demand is Rs. 0.2 million. (4)Amount deposited against the demand is Rs. 273.9 million. (5)Amount deposited against the demand is Rs. 609.7 million. (6)Amount deposited against the demand is Rs. 38.1 million. (c) According to the information and explanations given to us and the records of the Company examined by us, amounts 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 made there under have been transferred to such fund within time. (viii) The Company does not have accumulated losses as at the end of the financial year and it has not incurred any cash losses in the financial year ended on that date or in the immediately preceding financial year. (ix) According to the records of the Company examined by us and the information and explanations given to us, the Company has not defaulted in repayment of dues to any financial institution or banks. Further, the Company has not issued any debentures during the year. (x) In our opinion, and 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. Accordingly, the provisions of clause 3(x) of the Order are not applicable to the Company. (xi) 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. (xii) 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 year, nor have we been informed of any such case by the management. For S.N. Dhawan & Co. Chartered Accountants Firm Registration No. 000050N Vijay Dhawan Place: Noida Partner Date : April 30, 2015 Membership No. 12565