Presenting Partner

Life Insurance Corporation of India

Moneycontrol

Budget 2022

Associate Partners:

  • Kotak Mutual Fund
  • Pharmeasy
  • Indiabulls
  • State Bank of India
  • CoinSwitch Kuber

Presenting Partner

Life Insurance Corporation of India

Moneycontrol

Budget 2022

Technology Partner

Dell Technologies

Associate Partners

Kotak Mutual Fund
Pharmeasy
Indiabulls
State Bank of India
CoinSwitch Kuber
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Godawari Power & Ispat Ltd.

BSE: 532734 | NSE: GPIL |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE177H01021 | SECTOR: Steel - Sponge Iron

BSE Live

Jan 28, 16:00
289.75 11.65 (4.19%)
Volume
AVERAGE VOLUME
5-Day
68,264
10-Day
51,314
30-Day
51,426
115,928
  • Prev. Close

    278.10

  • Open Price

    279.90

  • Bid Price (Qty.)

    289.75 (3)

  • Offer Price (Qty.)

    291.25 (9)

NSE Live

Jan 28, 15:59
290.10 12.75 (4.60%)
Volume
AVERAGE VOLUME
5-Day
406,275
10-Day
346,880
30-Day
323,148
806,383
  • Prev. Close

    277.35

  • Open Price

    278.50

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    290.10 (349)

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 Godawari Power & Ispat Limited as at 31st March, 2007, the profit and loss account and also the cash flow statement for the year ended on that date, annexed thereto. 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 the 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) issued by the Central Government of India, in terms of sub section (4A) of Section 227 of the Companies Act, 1956. We enclose in the Annexure a statement on the matter specified in paragraphs 4 and 5 of the said order. 4. Further to our comment in the Annexure referred to above, we report that: (i) 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; (ii) 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; (iii) The balance sheet, profit and loss account and cash flow statement dealt with by this report are in agreement with the books of account; (iv) 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 Companies Act, 1956 except the compliances ofAS-15 (revised) in relation to the provision of gratuity on the basis of actuarial valuation as referred in Note No. 15 of Schedule 22, (v) On the basis of written representations received from the directors as on 31st March 2007, and taken on record by the Board of Directors, we report that none of the directors is disqualified as on 31st March 2007 from being appointed as a Director in terms of clause (g) of sub-section (1) of Section 274 of the Companies Act, 1956. (vi) In our opinion and to the best of our information and according to the explanations given to us the said accounts read alongwith the notes thereon, 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: (a) in the case of the balance sheet, of the state of the affairs of the Company, as at 31st March, 2007. (b) in the case of the profit and loss account, of the profit for the year ended on that date; and (c) in the case of the cash flow statement, of the cash flows for the year ended on that date. Annexure Re: Godawari Power & Ispat Limited Referred to in paragraph 3 of our report of even date, (i) (a) The Company has generally maintained the proper records showing full particulars including quantitative details and situation of fixed assets, however the entries related to ongoing expansions/additions are yet to be updated. (b) As explained to us, the fixed assets have been physically verified by the management at reasonable intervals, in phased verification programme, which, in our opinion, is reasonable, looking to the size of the company and the nature of its business. According to the information and explanations given to us, no material discrepancies were noticed on such verification. (c) The company has not disposed off any substantial part of its fixed assets during the year so as to affect its going concern status. (ii) (a) As explained to us, inventories have been physically verified during the year by the management. In our opinion, the frequency of the verification is reasonable. (b) The procedures of physical verification of inventories 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 of the company, we are of the opinion that, the company is maintaining proper records of inventory. The discrepancies noticed on verification between the physical stocks and the book records were not material. (iii) (a) The company has not granted any loan other than advances given in the normal course of business to companies, firms or any other parties covered in the register maintained under section 301 of the companies Act, 1956 during the year, therefore, the provisions of clause 4(iii) (a), (b), (c) & (d) of the Companies (Auditors Report) Order,2003 are not applicable to the company. (e) The company has taken unsecured loans from four companies covered in the register maintained under section 301 of the Companies Act, 1956. The maximum amount involved during the year was Rs.1220 Lacs and the year-end balance of loans taken was Rs.Nil. (f) In our opinion, the terms & conditions on which loans have been taken from companies listed in the register maintained under section 301 of the Companies Act 1956, are not prima facie prejudicial to the interest of the company. (g) The company was regular in repaying the amount as stipulated. (iv) In our opinion and according to the information & explanations given to us, there are adequate internal control procedures commensurate with the size of the company and nature of its business for the purchase of inventory, fixed assets and for the sale of goods and services. During the course of our audit, we have not observed any continuing failure to correct major weaknesses in internal controls. (v) (a) According to the information & explanations given to us, we are of the opinion that the transactions that need to be entered in the register maintained under section 301 of the Companies Act, 1956 have been so entered. (b) In our opinion and according to the information & explanations given to us, the transactions made in pursuance of contracts or arrangements entered in the register maintained under section 301 of the Companies Act, 1956 and exceeding the value of Rupees Five lacs in respect of any party during the year have been made at prices which are reasonable having regard to prevailing market prices at the relevant time. (vi) According to the information and explanations given to us, the company has not accepted deposits from public during the year therefore, the provisions of clause 4(vi) of the Companies (Auditors Report) Order, 2003 are not applicable to the company. (vii) In our opinion the company has an internal audit system commensurate with the size and nature of its business. (viii) We have broadly reviewed the books of account maintained by the company pursuant to the rules made by the Central Government for the maintenance of cost records under section 209(i)(d) of the Companies Act,1956, in respect of Companys products to which the said rules are made applicable 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 records. (ix) (a) The company is generally regular in depositing with appropriate authorities undisputed statutory dues including provident fund, investor education protection fund, employees state insurance, wealth tax, service tax, income tax, sales tax, custom duty, excise duty, cess and other material statutory dues applicable to it. According to the information & explanations given to us, no undisputed amounts of statutory dues as stated above were in arrears as at 31st March 2007 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, sales tax, wealth tax, service tax, custom duty, excise duty and cess which have not been deposited on account of any dispute except the following: Name of the Statue Nature of Dues Year Amount Forum where dispute is (Rs.In lacs) pending Service Tax Disallowance of credit of Service Tax paid 2005 20.74 Central Excise and Service Tax on onward freight and credit taken on the Appellate Tribunal, New Delhi, strength of TR6 Challan (x) The company does not have any accumulated losses and has not incurred cash losses during the financial year covered by our audit and also in the immediately preceding financial year. (xi) In our opinion and according to the information and explanations given to us, the company has not defaulted in repayment of dues to the banks. (xii) In our opinion and according to the information and explanations given to us, the company has not granted any loans & advances on the basis of security by way of pledge of shares, debentures and other securities. (xiii) In our opinion, the company is not a chit fund or a nidhi / mutual benefit fund / society. Therefore, the provisions of clause 4(xiii) of the Companies (Auditors Report) Order, 2003 are not applicable to the company. (xiv) In our opinion and according to information and explanations given to us, the company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly, the provisions of clause 4(xiv) of the Companies (Auditors Report) Order, 2003 are not applicable to the company. (xv) In our opinion and according to the information and explanations given to us, the terms and conditions on which the company has given corporate guarantees to the bank for loans taken by other company are not prima facie prejudicial to the interest of the company. (xvi) In our opinion, the term loans have been applied progressively for the purpose for which the loans were obtained. (xvii) According to the information and explanations given to us and on an overall examination of the balance sheet of the company, we are of the opinion that, prima facie short-term funds have not been used for long term investment. (xviii) According to the information and explanations given to us the company has not made preferential allotment of shares to parties and companies covered in the register mentioned under section 301 of the Act. Therefore the provisions of clause 4(xviii) of the of the Companies (Auditors Report) Order, 2003 are not applicable to the company. (xix) The company has not issued any debentures during the year. Therefore, the provisions of clause 4(xix) of the Companies (Auditors Report) Order, 2003 are not applicable to the company. (xx) The Company has made an initial Public Offer during the year which was closed on April 4,2006 and shares have been allotted on April 20,2006. The end use of public issue proceeds has been verified and disclosed in Note No.3 of Schedule-22 of the financial statements. (xxi) In our opinion and according to the information and explanations given to us, no fraud on or by the company has been noticed or reported during the year. Therefore, the provisions of clause 4(xxi) of the Companies (Auditors Report) Order, 2003 are not applicable to the company.