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Katwa Udyog Ltd.

BSE Live

Dec 03, 16:00
49.00 0.00 (0.00%)
Volume
AVERAGE VOLUME
5-Day
1,424
10-Day
1,495
30-Day
1,416
5,745
  • Prev. Close

    49.00

  • Open Price

    49.00

  • Bid Price (Qty.)

    46.55 (50)

  • Offer Price (Qty.)

    49.40 (326)

NSE Live

Dec 27, 11:22
NT* 0.00 (0.00%)
Volume
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  • Prev. Close

    -

  • Open Price

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  • Bid Price (Qty.)

    - (0)

  • Offer Price (Qty.)

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Katwa Udyog is not listed on NSE

Annual Report

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

Auditor's Report

Report on the Financial Statements: We have audited the accompanying financial statements of Shri Keshav Cements & Infra Limited (formerly known as Katwa Udyog Ltd] (''the company'') which comprise the Balance Sheet as at 31st March 2013 and the Statement of Profit & Loss and Cash Flow Statement for the year then ended and a summary of significant accounting policies and other explanatory information. The Company has changed the name from Katwa Udyog Limited tp Shri Keshav Cements and Infra Limited vide Registrar of Companies Bangalore Certificate dated: 07-11-2007. The change in name is intimated to all the State and Central Government Departments and the change of name is confirmed. The change of name is also intimated to BSE-Mumbai the approval is still under their consideration. Management''s Responsibility for the Financial Statements: Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position and financial performance of the company in accordance with the accounting standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956 (''the Act'']. This responsibility includes the design, implementation and maintenance of internal control 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. Auditor''s Responsibility: Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards required 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. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor''s judgment, including the assessment of the risks of material misstatements of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the company''s preparation and '' fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies.used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. '' Opinion: In our opinion and to the best of our information and according to the explanations given to us, the 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: i) In the case of the Balance Sheet, of the state of affairs of the Companyas at 31st March, 2013 AND ii) In the case of the Statement of Profit and Loss, 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 Report on other Legal and Regulatory Requirements: 1. As required by the Companies(Auditor''s Report) Order, 2003 (the Order), as amended, issued by the Central Government of India in terms of sub-section (4A) of section 227 of the Act, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the Order. 2. As required by section 227(3) of the Act, 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 purpose 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 and the Statement of Profit and Loss dealt with by this Report are in agreement with the books of account; d) In our opinion, the Balance Sheet and Statement of Profit and Loss comply with the Accounting Standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956. e) On the basis of written representations received from the directors as on 31st March, 2013, and taken on record by the Board of Directors, none of the directors is disqualified as on 31st March, 2013, from being appointed as a director in terms of clause (g) of sub-section (1] of section 274 of the Companies Act, 1956. f) Since the Central Government has not issued any notification as to the rate at which the cess is to be paid under section 441A of the Companies Act, 1956, nor has it issued any Rules under the said section, prescribing the manner in which such cess is to be paid, no cess is due and payable by the company. ANNEXURE TO THE INDEPENDENT AUDITOR''S REPORT OF SHRI KESHAV CEMENTS & INFRA LIMITED (FORMERLY KNOWN AS KATWA UDYOG LTD) REFERRED TO IN PARAGRAPH 1 OF OUR REPORT OF EVEN DATE: 1) The Company has maintained proper records showing full particulars, including quantitative details and situation ''of its fixed assets. The fixed assets are physically verified by the management in a phased manner, over a period of three years, which in our opinion is reasonable having regard to the size of the Company and nature of its business. No material discrepancies were noticed on such verification. There was no substantial disposal of fixed assets during the year. During the year Company has purchased additional machinery and spares for Plant-I for an amount to Rs. 45,85,504/- Plant -II Rs. 2,50,10,779/- including capitalization after deducting Modvat Credit of Rs. 20,40,154/-. 2) Physical verification of inventory has been conducted at reasonable intervals by the management. 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 nature of its business. The Company is maintaining proper records of inventory. Discrepancies noticed on physical verification as compared to book records, which were not material, have been properly dealt with in the books of accounts. , '' . 3) a) As informed, the company has not granted any loan, secured or unsecured, to companies, firms or parties covered in the register maintained under Section 301 of the Companies Act, 1956. b) The Company has taken unsecured loan from Directors covered in the register maintained under Section 301 of the Companies Act, 1956. The number of parties are 5 and the yearend balance of such loan taken was Rs.9,35,37,089/-. c) In our opinion, the rate of interest and other terms and conditions on which loan has been taken from companies and parties covered in the Register maintained under Section 301 of the Companies Act, 1956 are not, prima facie, prejudicial to the interest of the Company. d) The company is regular in repaying the principal amount as stipulated and has been regular in the payment of interest. 4) In our opinion and according to the information and explanation given to us, there is an adequate internal control system commensurate with the size of the Company & nature of its business, for the purchases of inventory and fixed assets and for sale of goods. During the course of our audit, we have not observed any continuing failure to correct major weaknesses in internal control system. 5) a) According to the information and explanations given to us, we are of the opinion that th transactions that need to be. entered into the register maintained under section 301 of th* Companies Act, 1956 have been so entered. # b) In our opinion and according to the information and explanations given to us, the transaction: made in pursuance of contracts or arrangements have been made at prices which are reasonable having regard to the prevailing market prices at the relevant time. 6) In our opinion & according to the information & explanations given to us, the Company has accepted public deposits, and it has complied with the provisions of sec. 58A, 58AA of the Companies Act, 1956 and the Company''s (Acceptance of the Deposits) Rules, 1975 with regard to the deposit accepted from public. No adverse order has been passed by the Company Law Board or National Company Law Tribunal or Reserve Bank of India or any Court or any other Tribunal. 7) In our opinion, the Company has an internal audit system commensurate with the size and nature of its business, but it needs to be strengthened. 8) 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 Sec.209(l)(d) of the Companies Act, 1956 and are of the opinion that prima facie, the prescribed accounts and records have been made and maintained. We are, however, not required to make a detailed examination of the records with a view to determine whether they are accurate or complete. 9) a) The Company is regular in depositing with appropriate authorities undisputed statutory dues including Provident Fund, Employees State Insurance, Income Tax, Sales Tax, Service Tax, Excise duty, cess and other material statutory dues applicable to it. b) According to the information and explanations given to us, no undisputed amount payable in respect of Income Tax, Wealth Tax, Sales Tax,. Service Tax, Custom duty, Excise duty and cess were in arrears as at 31.03.2013 for a period of more than six months from the date they became payable. c) According to the information & explanation give to us, there are no dues of Income Tax, Wealth Tax, Sales Tax, Service Tax, Custom duty, Excise duty or Cess which have not been deposited on account of any dispute. 10)The Company does not have any accumulated losses. It has not incurred cash losses during the financial year covered by our audit and in the immediately preceding financial year. 11)Based on our audit procedures and as per the information & explanation given by the management, the company has not defaulted in repayment of dues to financial Institution or Banks. 12)As informed and explained to us, 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) In our opinion, the Company is not chit fund or a nidhi/mutual benefit fund/societies. Therefore, the provisions of clause 4(xiii) of the Order, are not applicable to the Company. 14)Since the Company is not dealing or trading in shares, securities, debentures and other investment, clause (xiv) of the Order is not applicable. 15)The company has not given any guarantee for loans taken by others from bank or financial institutions. 16)In our opinion and according to the information and explanations given to us, the term loans were applied for the purposes for which they were raised. 17)According to the information and explanations given to us and on an overall examination of the balance sheet of the Company, we report that no funds raised on short term basis have been used to finance long term investments. 18)The Company has not made any preferential allotment of shares to parties and companies covered in the Register maintained under Section 301of the Companies Act, 1956. 19) During the period covered by our audit report, the Company has not issued any debentures. 20)The company has not raised any money from public issue during the year. 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 any such case by the management. Place: Belgaum C.A. Prabhakar K. Latkan Dated: 13-05-2013 Chartered Accountant M No. 200/21730 1083, Ananthashayan galli, BELGAUM-590 002.