you are here:

GMR Infrastructure Ltd.

BSE: 532754 | NSE: GMRINFRA |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE776C01039 | SECTOR: Infrastructure - General

BSE Live

Dec 09, 16:00
43.90 1.35 (3.17%)
Volume
AVERAGE VOLUME
5-Day
2,202,018
10-Day
1,806,817
30-Day
1,908,824
2,366,986
  • Prev. Close

    42.55

  • Open Price

    43.05

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Dec 09, 15:59
43.85 1.25 (2.93%)
Volume
AVERAGE VOLUME
5-Day
23,364,127
10-Day
21,209,395
30-Day
18,830,966
24,445,119
  • Prev. Close

    42.60

  • Open Price

    42.85

  • Bid Price (Qty.)

    43.85 (8406)

  • Offer Price (Qty.)

    0.00 (0)

Annual Report

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

Auditor's Report

1. We have audited the attached Balance Sheet of GMR Infrastructure Limited (the Company) as at March 31, 2009, and the related Profit and Loss Account and the Cash Flow Statement for the year ended on that date annexed thereto, which we have signed under reference to this report. 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. 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 required by the Companies (Auditors Report) Order, 2003, as amended by the Companies (Auditors 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 said Order. 4. Further to our comments in the Annexure referred to in paragraph 3 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, 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 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, 2009 and taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2009 from being appointed as a director in terms of clause (g) of sub-section (1) 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, the 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, 2009; ii. in the case of the Profit and Loss Account, of the profit 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 Auditors Report [Referred to in paragraph 3 of the Auditors Report of even date to the members of GMR Infrastructure Limited on the financial statements for the year ended March 31, 2009] 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 year and no material discrepancies between the book records and the physical inventory have been noticed. c. In our opinion and according to the information and explanations given to us, a substantial part of fixed assets has not been disposed of by the company during the year. 2. The Company is a holding company with its investments mainly within the group companies and as such does not hold any physical inventory. Accordingly clause (ii) of paragraph 4 of the Order is not applicable to the Company. 3 a. The company has granted unsecured loans to two companies covered in the register maintained under Section 301 of the Act, during the year ended March 31, 2008. The maximum amount involved during the year and the year-end balance of such loans aggregate to Rs. 740,000,000 and Rs.Nil respectively. b. In our opinion, the rate of interest and other terms and conditions of such loans are not prima facie prejudicial to the interest of the company c. In respect of the aforesaid loans, the parties are regular in repaying the principal amounts as stipulated and are also regular in payment of interest, where applicable. d. In respect of the aforesaid loans, there is no overdue amount more than Rupees 1 lakh e. 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 Act. Accordingly clauses (iii) (f) and (iii) (g) of paragraph 4 of the said Order are not applicable to the company for the current year. 4. 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. The activities of the Company did not involve the purchase of inventory and 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 are no contracts or arrangements, the particulars of which need to be entered in the register maintained under Section 301 of the Act during the year. Accordingly, clause (v) of paragraph 4 of the said Order is not applicable to the Company for the current year. 6. The Company has not accepted any deposits from the public within the meaning of Sections 58A and 58AA of the Act and the rules framed there under. 7. In our opinion, the Company has an internal audit system commensurate with its size and nature of its business. 8. The Central Government has not prescribed cost records under section 209 (1) (d) of the Act for any of the activities of the Company and accordingly clause (viii) of paragraph 4 of the Order is not applicable to the Company. 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 generally regular in depositing the undisputed statutory dues including provident fund, income-tax and other material statutory dues as applicable with the appropriate authorities. According to the information and explanations given to us, and the records of the Company examined by us, investor education and protection fund, employees state insurance, sales tax, wealth tax, customs duty, service tax, excise duty, and cess are not applicable to the Company for the current year. 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 which have not been deposited on account of any dispute. According to the information and explanations given to us and the records of the company examined by us, sales tax, wealth tax, service tax, customs duty, excise duty and cess are not applicable to the Company for the current year. 10. The company has no accumulated loss as at March 31, 2009 and it has not incurred any cash loss in the financial year 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 a bank or a financial institution or debenture holders as at the balance sheet date. 12. The Company has not granted any loans and advances on the basis of security by way 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 terms and conditions of the guarantees given by the company, for loans taken by others from banks or financial institutions during the year, are not prejudicial to the interest of the company. 16. In our opinion, and according to the information and explanations given to us, on an overall basis, the term loans have been applied 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 year. 19. The company has created security or charge in respect of debentures issued and outstanding at the year end. 20. The company has not raised any money by public issues during the year. The management has disclosed the end use of monies during the year, out of public issue raised during the year ended March 31, 2007 [Refer Note 3 on Schedule 15 (II)] and the same has been verified by us. 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 fraud on or by the Company, noticed or reported during the year, nor have we been informed of such case by the management. Thomas Mathew Partner Membership No. 50087 For and on behalf of Place: Bangalore Price Waterhouse Date: June 04, 2009 Chartered Accountants