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OM Infra Ltd.

BSE: 531092 | NSE: OMINFRAL |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE239D01028 | SECTOR: Engineering

BSE Live

Oct 27, 16:00
32.55 0.00 (0.00%)
Volume
AVERAGE VOLUME
5-Day
15,242
10-Day
19,943
30-Day
20,401
1,939
  • Prev. Close

    32.55

  • Open Price

    32.65

  • Bid Price (Qty.)

    31.75 (461)

  • Offer Price (Qty.)

    33.00 (22)

NSE Live

Oct 27, 15:50
32.25 -0.35 (-1.07%)
Volume
AVERAGE VOLUME
5-Day
101,640
10-Day
200,432
30-Day
177,726
154,282
  • Prev. Close

    32.60

  • Open Price

    32.65

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    32.25 (198)

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 M/s. OM METALS INFRA PROJECTS LIMITED, (Formerly known as Om Metals Limited) as at 31.03.2006, the profit and loss account for the year ended on that date and also the cash flow statement of the company for the year ended on that date annexed thereto. The accounts of branches/division i.e. Engineering, Multiplex and Hotel divisions audited by other auditors are incorporated in the said balance sheet and profit and loss account and cash flow statement which have been forwarded to us and have considered the same in preparing this report. These financial statement 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 principal 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 issued by the Central Government of India in terms of subsection (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 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 purpose of our audit: (b) In our opinion, proper books of accounts as required by law have been kept by the company so far as appears from our examination of those books and proper returns adequate for the purposes of our audit have been received from the Engineering, Multiplex and Hotel divisions/branches not visited by us. The branch/division Auditors report has been forwarded to us and appropriately dealt with. c) The balance sheet, profit and loss account and cash flow statement dealt with by this report are in agreement with the books of account and with the audited returns, audited by other auditors of the Engineering, Multiplex and Hotel divisions of the company. d) In our opinion, the balance sheet, profit and loss account and cash flow statement dealt with by this report comply with the applicable 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 31.03.2006 and taken on record by the Board of Directors, we report that none of the directors of the company is disqualified as on 31.03.2006 from being appointed as a director in terms of clause (g) of Sub-section (1) of section 274 of the Companies Act, 1956. f) To bring accounting policy regarding valuation of finished goods of Engg. division, provision of AS-2, the company has changed the method of valuation of the above referred stocks from net selling/contract price to cost or market price which ever is lower, this has effect on profit and stocks to the extent referred in note no.-12 of schedule no.-XVI 11. g) In our opinion and to the best our information and according to the explanations given to us, the accounts give the information required by the Companies Act. 1956, in the manner so required subject to non disclosure of quantitative details in hotel division 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 31.03.2006 and. (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. For M.C. BHANDARI & CO. CHARTERED ACCOUNTANTS (S.K. MAHIPAL) PARTNER M.No.70366 Place: 38 Shopping Centre, Kota (Raj.) Dated: 30-6-2006 ANNEXURE ANNEXURE REFERRED TO IN PARAGRAPH 3 OF AUDITORS REPORT TO THE MEMBERS OF M/S OM METALS INFRAPROJECTS LIMITED, KOTA (FORMELY KNOWN AS OM METALS LIMITED) ON THE ACCOUNTS FOR THE YEAR ENDED ON 31ST MARCH, 2006 On the basis of the information and explanations given to us and on the basis of such checks as we considered appropriate, our statement on the matters specified in para 3 and 4 of the said order is given below. In preparing the report, we have considered the report made under the aforesaid order by other auditors, who have audited the accounts of the Divisions of Engg., Multiplex and Hotel of the Company. 1. IN RESPECT OF ITS FIXED ASSETS. a) The Company has maintained proper records showing full particulars, including quantitative details and situation of its fixed assets. b) The management has carried out a physical verification of most of its fixed assets during the year. In our opinion, the frequency of verification is reasonable having regard to the size of the company and the nature of its fixed assets. The discrepancies noticed on such verification were not material and have been properly dealt with in the books of accounts. c) The fixed assets disposed off during the year, in our opinion, do not constitute substantial part of the fixed assets of the company and such disposal has, in our opinion, not affected the going concern status of the company. 2(a) The inventory of the company has been physically verified during the year by the Management. In our opinion, the frequency of verification is reasonable according to the nature of the business. (b) In our opinion and according to the information and explanation given to us, 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 records of inventory, we are of the opinion that the company is maintaining proper records of inventories. The discrepancies noticed on physical verification of inventories as compared to book records were not material, having regard to the size or the operations of the Company and have been properly dealt within the books of account. 3. According to the information and explanations given to us, the company has neither granted nor taken any loans, secured or unsecured to/from companies, firms or other parties covered in the register maintained under section 301 of the companies Act, 1956. In view of above paragraphs 4(iii) (a), (b), (c), (d), (e), (f) and (g) of the order are not applicable. 4. In our opinion and according to the information and explanations given to us, having regard to the explanation that some of the items purchased/job work are of special nature and suitable alternative sources do not exist for obtaining comparable quotations, there is an adequate internal control system commensurate with the size of the company and the nature of its business with regard to the purchase of inventories and fixed assets and with regard to the sale of goods and services. Further, on the basis of our examination and according to the information and explanations give to us, we have not observed any continuing failure to correct major weaknesses in such internal control system. 5. In respect of contracts or arrangements entered in the register maintained in pursuance of section 301 of the Companies Act, 1956 to the best of our knowledge and belief and according to the information and explanations given to us :- a) The particulars of contracts or arrangements referred to in section 301 that needed to be entered into the register, maintained under the said section have been so entered. (b) In our opinion and having regard to our comments in Para (4) above and according to the informations and explanations given to us, the transactions [excluding loans reported under paragraph 3 above] exceeding the value of rupees five lakhs in respect of any party during the year have been made at prices which are prima facie reasonable having regard to the prevailing market prices at the relevant time where such prices are available. 6. According to the information and explanations given to us, the Company has not accepted any deposits from the Public. Therefore the provisions of clause (vi) of the Companies (Auditors report) order, 2003 are not applicable to the company. 7. In our opinion, the Company has an internal audit system commensurate with the size and nature of its business. 8. According to the information land explanation given to us, maintenance of cost records have not been prescribed by the central Govt. under section 209 (1) (d) of the Companies Act, 1956 to any product of the company. 9(a) According to the information and explanations given to us and the records of the company, examined by us, the company has been generally regular except for few delays depositing undisputed statutory dues including income tax, sales Tax, PF, ESI, Excise Duty, Cess, Customs Duty, wealth Tax, service tax, investor education protection fund and other material statutory dues applicable to it with the appropriate authorities during the year. According to the information and explanations given to us, no undisputed amounts payable in respect of the aforesaid dues were outstanding as at 31.03.2006 for a period of more than six months from the date of becoming payable except a sum of Rs. 7.82 lacs in respect of Investor education and protection fund. 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, customs duty and cess maters which have not been deposited. According to the information and explanations given to us and the records of the company examined by us, the details of disputed dues not paid on account of sales tax, excise duty and service tax are as follows :- Nature of Nature of Forum where Net demand Period to which the the Statute the Dues pending amount after deposit of (Rs. in Lacs.) tax amount relates Sales Tax Sales Tax Commissioner 116.14* 1984-85, 1985-86 Laws (Appeal/Tribunal 1990-91 to 1994-95, 02-03, 03-04, 2004-2005 High court 7.19 1986-87 Central Excise Excise Duty Commissioner 97.42 1987 to 1990, (Appeal) 1997-98, 2001-02 to 04-05 Income Tax Income Tax CIT Appeal/ITAT 84.62* 1991-92, 95-96,96-97, 2001-02 to 2003-2004 * Against it, the company paid Rs. 109.08 lacs. A general show cause notice of service tax received by the company that service tax is payable on erection receipts in engg. division for the period from 01.04.2004 to on ward. The company replied suitably 10. The Company does not have accumulated losses at the end of the financial year March 31, 2006. Further, the company has not incurred any cash losses during the financial year ended March 31, 2006 and in the immediately preceding financial year ended March 31, 2005. 11. 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 financial institutions and banks during the year. 12. In our opinion and according to the information and explanations given 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, Paragraph 4 (xii) of the order is not applicable. 13. 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. 14. In our opinion, the company is not dealing in or trading in shares, securities, debentures and other investments, Paragraph 4 (xiv) of the order is not applicable to the company. 15. The company has given bank guarantees for advance taken/security deposit for tendering by other (Joint venture) from project authorities. According to the information & explanations given to us, we are of the opinion that the terms & conditions there of are not prima facie prejudicial to the interest of the company. 16. To the best our knowledge and belief and according to the informations and explanations given to us, in our opinion, the term loans taken by the company during the year have been applied by the company for the purposes for which the loans were obtained. 17. According to the information and explanations given to us, and on an over all examinations of the balance sheet of the company, we report that funds raised on short term basis have prima facia not been used during the year for long term investment. 18. As the company has not made any preferential allotment of shares during the year, paragraph 4 (xviii) of the order is not applicable. 19. In our opinion and according to the information and explanations given to us, the company has not issued any debentures, paragraph 4 (xix) of the order is not applicable. 20. Since the company has not raised any money by way of Public issue during the year, Paragraph 4 (xx) of the order is not applicable. 21. Based upon the audit procedures performed and information and explanations given by the management, we report that no material fraud on or by the company has been noticed or reported during the course of our audit for the year ended March 31, 2006 For M.C. BHANDARI & CO. Chartered Accountants Sd/- (S.K. MAHIPAL) PARTNER M. N0. 70366 Place : Kota Dated : 30-6-2006