Shri Matre Power & Infrastructure Ltd

BSE: 531322 | NSE: SHAKTIGAS | ISIN: INE293B01011 
Market Cap: [Rs.Cr.] 3.90 | Face Value: [Rs.] 10
Industry: Miscellaneous

Auditor's Report


The Members,

Shri Matre Power & Infrastructure Ltd., Hyderabad.

We have audited the attached Balance Sheet of Shri Matre Power & InfrastructureLtd., Hyderabad, as at March 31, 2013 and the Profit and Loss Account for the yearended on that date annexed thereto and Cash flow Statement for the year ended on thatdate. These financial Statements are the responsibility of the Company's management. Ourresponsibility is to express an opinion on these financial statements based on our audit.

1. We conducted our audit in accordance with Auditing Standards generally accepted inIndia. Those standards require that we plan and perform the audit to obtain reasonableassurance about whether the financial statements are free of material misstatements. Anaudit includes examining, on a test basis, evidence supporting the amounts and disclosuresin financial statements. An audit also includes assessing the accounting principles usedand significant estimates made by the management, as well as evaluating the overallfinancial statements presentation. We believe that our audit provides a reasonable basisfor our opinion.

2. As required by the companies (Auditor's Report) Order 2003 issued by the CentralGovernment of India in terms of sub-section (4A) of section 227 of the Companies Act,1956, we enclose in the Annexure hereto a statement on the matters specified in paragraphs4 and 5 of the said Order.

3. Further to our comments in the Annexure referred to in paragraph 2 above, we reportthat:

a) We have obtained all the information and explanations which to the best of ourknowledge 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 theCompany, so far as appears from our examination of those books;

c) The Balance Sheet, Profit and Loss Account and Cash Flow Statement dealt with bythis report are in agreement with the books of account;

d) In our opinion, the Statement of Assets and Liabilities, Statement of Profit andLoss Account and Cash Flow Statement dealt with by this report comply with the mandatoryAccounting Standards referred in sub-section (3C) of section 211 of the Companies Act,1956;

e) In our opinion, and based on information and explanations given to us, none of thedirectors is disqualified as on March 31, 2013, from being appointed as directors in termsof clause (g) of sub-section (1) of section 274 of the Companies Act, 1956.

f) In our Opinion and to the best of our information and according to the explanationsgiven to us, the said accounts read together with Significant Accounting Policies andNotes to Accounts thereon give the information required by the Companies Act, 1956, in themanner so required, and present a true and fair view, in conformity with the accountingprinciples generally accepted in India;

(i) In so far as it relates to Statement of Assets and Liabilities, of the state ofaffairs of the Company as at March 31, 2013;

(ii) In so far as it relates to the Statement of Profit and Loss Account, of the lossof the Company for the year ended on that date ; and

(iii) In so far as it relates to the Cash Flow Statement, of the cash flows of theCompany for the year ended on that date.

Place: Hyderabad (P.V.SRI HARI)
Date : 23.05.2013 Partner


Referred to in Paragraph 2 of our report of even date

1. In respect of its fixed assets:

a. The Company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets, which require to be updated.

b. As explained to us, the fixed assets have been physically verified by the managementat reasonable intervals and no material discrepancies between the books/record and thephysical inventory were noticed on such verification.

c. In our opinion, the Company has not disposed off substantial part of fixed assetsduring the year and the going concern status of the Company is not affected.

2. In respect of its inventories:

a. As explained to us, inventories have been physically verified by the management atreasonable intervals during the year.

b. In our opinion and according to the information and explanations given to us, theprocedures of physical verification of inventories followed by the management arereasonable and adequate in relation to the size of the Company and the nature of itsbusiness.

c. The Company has maintained proper records of inventories. As explained to us, therewas no material discrepancies noticed on physical verification of inventory as compared tothe book of records.

3. The Company did not take nor granted any loans, secured or unsecured, from or tocompanies, firms or other parties listed in the Register maintained under Section 301 ofthe Companies Act, 1956.

4. In our opinion and according to the information and explanations given to us, thereare adequate internal control procedures commensurate with the size of the Company and thenature of its business for the purchase of inventory, fixed assets and also for the saleof goods.

5. In our opinion and according to the information and explanations given to us, thereare no transactions in pursuance of contracts or arrangements entered in the registermaintained under Section 301 of the Companies Act, 1956, aggregating during the year to Rs5,00,000/- (Rupees Five lakhs only) or more in respect of any party.

6. The Company has not accepted any deposits from the public.

7. The company has an in-house Internal Audit Department. In our opinion, the scope andcoverage of internal audit system of the Company is commensurate with its size and natureof its business.

8. We have been informed that, though maintenance of Cost Records has been prescribedby the Central Government for the company's product, the maintenance of such records arenot applicable to the Company as the aggregate value of the turnover does not exceed Rs10Crores.

9. a) The Company is fairly regular in depositing amounts of Provident Fund andEmployees

State Insurance dues. In respect of Income tax, Sales Tax, Wealth Tax, Custom Duty andExcise duty there are no undisputed amounts outstanding as at 31st March 2013 for a periodof more than six months.

b) The disputed statutory dues aggregating to Rs 352.77 Lakhs that have not beendeposited on account of matters pending before appropriate authorities are as under:

SI. No. Name of the Statute Nature of the Dues Forum where Dispute is pending Amount in Lakhs
1. Customs Duty Act Customs Duty CEGAT 352.77
2. APGST Act Sales Tax STAT 18.24
Total 371.01

10. The Company does not have accumulated losses as at the end of financial year. TheCompany has not incurred cash losses during the financial year covered by the Audit and inimmediately preceding financial year.

11. In our opinion and according to the information and explanations given to us, noloans and advances have been granted by the Company on the basis of security by way ofpledge of shares, debentures and other securities.

12. In our opinion, the Company is not a chit fund or a nidhi / mutual benefitfund/society. Therefore, Clause - 4 (xiii) of the Companies (Auditors' Report) Order,2003, is not applicable to the Company.

13. The Company has not dealt in or traded in shares, securities, debentures and otherinvestments.

14. The Company has not given guarantees for loans taken by others from banks orfinancial institutions.

15. The Company has not raised any new term loans during the year from banks nor thereare outstanding term loans as at 31.03.2013.

16. The company during the year did not raise any short-term loans and hence thequestion of their usage does not arise.

17. During the year, the Company has not made any preferential allotment of shares toparties and companies covered in the Register maintained under Section 301 of theCompanies Act, 1956.

18. The Company has not issued any debentures during the year.

19. The Company has not raised any money by way of public issue during the year.

20. In our opinion and according to the information and explanations given to us, nofraud on or by the Company has been noticed or reported during the year, that causes thefinancial statements to be materially misstated.

Place : Hyderabad (P. V SRI HARI)
Date : 23.05.2013 Partner
Futures & Options Quote
Future Data Not present
Key Information

Key Executives:

D V Manohar , Chairman & Managing Director

B K Sinha , Director

R Prabhakar Rao , Director

A Balasetti , NRI Director

Company Head Office / Quarters:

Venus Plaza,
Adjacent to Airport Begumpet,
Andhra Pradesh-500016
Phone : Andhra Pradesh-91-040-27902929 / Andhra Pradesh-
Fax : Andhra Pradesh-91-040-27908989 / Andhra Pradesh-
E-mail :
Web :


XL Softech Systems Ltd
Plot No 3 Sagar Soci,Road No 2,Banjara Hills,Hyderabad - 500034

Fund Holding
Scheme Name No. of Shares
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