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Intense Technologies Ltd.

BSE: 532326 | NSE: INTENTECH |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE781A01025 | SECTOR: Computers - Software Medium & Small

BSE Live

Oct 21, 13:08
70.70 1.60 (2.32%)
Volume
AVERAGE VOLUME
5-Day
12,915
10-Day
17,638
30-Day
11,240
4,198
  • Prev. Close

    69.10

  • Open Price

    69.70

  • Bid Price (Qty.)

    70.10 (36)

  • Offer Price (Qty.)

    70.65 (2)

NSE Live

Oct 21, 13:08
70.55 1.75 (2.54%)
Volume
AVERAGE VOLUME
5-Day
88,413
10-Day
112,266
30-Day
71,377
16,483
  • Prev. Close

    68.80

  • Open Price

    69.90

  • Bid Price (Qty.)

    70.20 (18)

  • Offer Price (Qty.)

    70.55 (77)

Annual Report

For Year :
2018 2016 2015 2014 2013 2012 2011 2010 2009

Auditor's Report

1. We have audited the attached Balance Sheet of Intense Technologies Limited (the Company) as at March 31, 2007 and also the Profit and Loss account and 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 have conducted our audit in accordance with 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, 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 matters specified in paragraphs 4 and 5 of the said Order. 4. Further to our comments 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; v. On the basis of the written representations received from the Directors, as on March 31, 2007, and taken on record by the Board of Directors, we report that none of the Directors is disqualified as on March 31, 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 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 affairs of the Company as at March 31, 2007 b) in the case of the profit and loss account, of the loss 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 to the Auditors Report (Referred to in paragraph 3 of our Report of even date on the accounts of Intense Technologies Limited as at 31st March, 2007) 1. The Company has maintained proper records to show fu[l particulars, including quantitative details and situation of fixed assets. The Company has a policy of verifying fixed assets at reasonable intervals. In terms of the policy, the Company has carried out a physical verification of fixed assets during the year and. the discrepancies noted were not material when compared to the books. 2. The fixed assets of the Company have not been revalued during the year. 3. The Company did not hold any stock of finished goods, stores and spare parts and raw materials during the year. In view of the foregoing, the provisions of 4(A)(iii).(iv),(v) and (vi) of the said order are not applicable. 4. The Company has not taken any loans, secured or unsecured from companies, firms or other parties listed in the register maintained under Section 301 of the Companies Act, 1956.As informed to us, there are no companies under the same management as defined under the then applicable Section 370( 1B) of the Companies Act, 1956. 5. According to the information and explanations given to us, the Company has not granted any loans, secured or unsecured, to companies, firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956. As informed to us, there are no companies under the same management as defined under the then applicable Section 370(1 6) of the Companies Act, T956. 6. The Company has given loans or advances in the nature of loans to its employees, the principal amounts of which together with interest thereon, where applicable, are repaid as stipulated. 7. In our opinion and according to the information and explanations given to us, having regard to the explanations that some items are of a special nature for which alternative quotations cannot be obtained, there are adequate internal control procedures generally commensurate with the size of the Company and the nature of its business with regard to purchases of stores and spare parts, plant and machinery, equipment and other assets, and with regard to sale of software and other services and products. 8. In our opinion and according to information and explanations given to us, the transactions of purchase and sale of goods, materials and services made in pursuance of contracts or arrangements entered in the register maintained under Section 301 of the Companies Act. 1956 and aggregating to Rs.50.000/- (Rupees Fifty Thousand only) or more during the year in respect of each party have been made at prices which are reasonable having regard to the prevailing market prices for such goods, materials or services on the prices at which transactions for similar goods and services have been made with other parties. 9. As informed to us the Company has no unserviceable or damaged stores. 10. The Company has not accepted any deposits during the year and hence provisions of Section 58A of the Companies Act, 1956 and the rules framed there under are not applicable. 11. We are informed that in the operation of the Company no realizable by-products and or scrap are generated. 12. The Company has no outside internal audit function commensurate with the size and nature of its business. 13. We have been informed that the Central Government has not prescribed the maintenance of Cost records under Section 209 (1) (d) under the Companies Act, 1956 for the Company and any of its products. 14. The Company has been generally regular in depositing Provident Fund & Employees State Insurance dues with the appropriate authorities. 15. According to the information and explanations given to us. there are no undisputed amounts payable in respect of wealth tax, sales-tax, customs duty and excise duty outstanding as at 31st March, 2007 for a period exceeding six months from the date they became payable The Income Tax Department has issued a demand of Rs.61,39.220/- for the Assessment Year 2003- 04, which is disputed by the company by contesting at IT Authorities. 16. The Company has a policy of authorizing expenditure based on reasonable checks and balances. The policy is intended to ensure that expenses are authorized on the basis of contractual obligations or accepted business practices, having regard to the Companys business needs and exigencies. In terms of these observations, we have not come across any expenses charged to revenue account. 17. the Company is not a sick industrial company within the meaning of clause (o) of sub- section (1) of Section 3 of Sick Industrial Companies (Special Provisions) Act, 1985. 18. In respect of services/consultancy rendered by the Company: There is a reasonable system of recording receipts, issues and consumption of material and stores, where applicable and allocating materials consumed to each project. There is a reasonable system of allocating man- hours utilized to the relevant consultancy and/or project contracts. There is a reasonable system of authorization at proper levels and an adequate system of internal control on the issue and allocation of stores and labour to jobs. 19. In respect of trading activity, in our opinion the company has a reasonable system of determining the damaged goods. 20. The Company has no accumulated losses at the end of the financial year and has incurred Rs. 380.23 lakhs cash losses in the financial year and there was no cash loss in the financial year immediately preceding such financial year. 21. The Company has working capital loan from a nationalized bank and did not issue any debentures. Accordingly, clause 4 (xi) of the order is not applicable. 22. The Company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities. Accordingly, clause 4 (xii) of the order is not applicable. 23. The Company is not chit fund, nidhi, mutual benefit fund or a society. Accordingly, clause 4 (xiii) of the order is not applicable. 24. According to the information and explanations given to us, the Company is not dealing or trading in shares, securities, debentures and other investments. Accordingly, clause 4 (xiv) of the order is not applicable. 25. 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, clause 4 (xv) of the order is not applicable. 26. The Company has not obtained any term loans. Accordingly, clause 4 (xvi) of the order is not applicable. 27. According to the information and explanations given to us, the Company has not raised any funds on short-term basis. All assets have been funded by shareholders funds. 28. The Company has made preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the Act. 29. The Company has not issued any debentures. Accordingly, clause 4 (xix) of the order is not applicable. 30. The Company has not raised any money by public issues during the year. Accordingly, clause 4 (xx) of the order is not applicable. 31. According to the information and explanations given to us, no fraud on or by the Company has been noticed or reported during the year. 32. All the investments are held by the Company in its own name. For Srinivas P. & Associates Chartered Accountants Place : Hyderabad P.Srinivas Date : 29th June, 2007. Proprietor