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ANB Metal Cast Ltd Auditor Reports

167.2
(-3.38%)
Aug 22, 2025|12:00:00 AM

ANB Metal Cast Ltd Share Price Auditors Report

INFORMATION

To,

The Board of Directors ANB METAL CAST LIMITED Riverwave Off. No 9, 8th Flr. Nr, Lords Pradhyuman,

Kalawad Road, Rajkot, Gujarat, India, 360005

Dear Sir,

i. We have examined the attached restated standalone financial information of "ANB METAL CAST LIMITED" (hereinafter referred to as "the Company" or "the Issuer") for the period ended 31 March, 2025, 31 March, 2024 and 31 March 2023 which comprise of the restated statement of assets and liabilities, restated statement of Profit and Loss, restated cash flow statement and the summary statement of significant accounting policies and other explanatory information (collectively referred to as the

"restated standalone financial information" or "restated standalone financial statements") annexed to this report and initiated by us for identification purposes. These Restated Standalone Financial Statements have been prepared by the management of the Company and approved by the board of directors at their meeting in connection with the proposed Initial

Public Offering on SME Platform ("IPO") of National Stock Exchange of India Limited ("NSE") of the Company.

ii. These restated summary statements have been prepared in accordance with the requirements of:

i. section 26 of Part I of Chapter III of Companies Act, 2013 (the "Act") read with Companies (Prospectus and Allotment of Securities) Rules 2014; ii. The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations 2018 ("ICDR

Regulations") and related amendments/ clarifications from time to time issued by the Securities and Exchange Board of

India ("SEBI"); iii. The Guidance Note on Reports in Company Prospectuses (Revised2019) issued by the Institute of Chartered Accountants of India ("Guidance Note")

iii. The Companys Board of Directors is responsible for the preparation of the Restated Standalone Financial Statements for inclusion in the Red Herring Prospectus/Prospectus to be filed with Securities and Exchange Board of India ("SEBI"), SME platform of NSE Limited ("NSE") and Registrar of Companies Ahmedabad in connection with the proposed IPO. The Restated Standalone Financial Statements have been prepared by the management of the Company on the basis of preparation stated. The responsibility of the board of directors of the Company includes designing, implementing and maintaining adequate internal control relevant to the preparation and presentation of the Restated Standalone Financial Statements. The Board of Directors is also responsible for identifying and ensuring that the Company complies with the Act, ICDR Regulations and the Guidance Note.

iv. We have examined such Restated Standalone Financial Statements taking into consideration:

i) The terms of reference and term so four engagement letter requesting us to carry out the assignment, in connection with the proposed SME IPO; ii) The Guidance Note also requires that we comply with the ethical requirements of the Code of Ethics issued by the ICAI; iii) Concepts of test checks and materiality to obtain reasonable assurance based on verification of evidence supporting the Restated Standalone Financial Statements; iv) The requirements of Section 26 of the Act and the ICDR Regulations. Our work was performed solely to assist you in meeting your responsibilities in relation to your compliance with the Act, the ICDR Regulations and the Guidance Note in connection with the IPO. v. The Restated Standalone Financial Statements of the Company have been compiled by the management from:

i. Financial Statement as at and for the year ended March 31, 2025 prepared in accordance with Accounting Standard, specified under section 133 of the Act and other accounting principles generally accepted in India by making adjustments for Indian GAAP as applicable to corporates to the audited financial statements for the year ended 31 March, 2025 as approved by the board of directors and financial information of the Company namely ANB METAL CAST LIMITED for the financial years ended 31 March 2024 and 31 March 2023 which were prepared in accordance as per Indian GAAP as applicable to non- corporates.

ii. The audit for the period ended 31 March, 2025 and 31 March, 2024 was conducted by us and there were no qualifications in our audit report. The financial information of Company namely ANB METAL CAST LIMITED for the financial year ended 31 March 2023 was based on financial statements considered by previous statutory auditors, Parita N. Popat and Associates, Chartered Accountants (ICAI Firm Registration Number: 0143516W) and accordingly we have placed reliance on the restated statement of assets and liabilities and the restated statements of profit and loss and cash flow statements, the Statement of Significant Accounting Policies and other explanatory information examined by them.

iii. Based on our examination and according to information and explanations given to us, we are of the opinion that the

Restated Standalone Financial Statements: a) Have been prepared after incorporating adjustments for the changes in accounting policies, material errors and regrouping/ reclassifications retrospectively for the financial year ended on 31 March 2025, 31 March 2024 and 31 March 2023 do not require any adjustment for modification as there is no modification in the underlying audit reports; b) there are no extra-ordinary items that need to be disclosed separately in the accounts and requiring adjustments. c) have been prepared in accordance with the Act, ICDR Regulations and Guidance Note. d) Adequate disclosure has been made in the financial statements as required to be made by the issuer as per schedule III of the Companies Act, 2013. e) The accounting standards prescribed under the Companies act, 2013 have been followed. f) The financial statements present a true and fair view of the companys accounts.

vi. In accordance with the requirements of the Act including the rules made there under, ICDR Regulations, Guidance Note and engagement letter, we report that:

a) The "Restated Summary Statement of Assets and Liabilities" as set out in Annexure I to this report, of the Company as at 31 March 2025 is prepared by the Company and approved by the Board of Directors and Restated statement of assets and liabilities of the Company namely ANB METAL CAST LIMITED as set out in Annexure I to this report for 1 April 2024 to 31 March 2025 and the 31 March 2024 and 31 March 2023 are prepared by the management of the Company. These Restated Summary Statement of Assets and Liabilities, have been arrived at after making such adjustments and regroupings to the individual financial statements of the Company, as in our opinion were appropriate and more fully described in Significant Accounting Policies and Notes to Accounts as set out in Annexure IV to this Report.

b) The "Restated Summary Statement of Profit and Loss" as set out in Annexure II to this report, of the Company for the year ended on 31 March 2025 is prepared by the Company and approved by the Board of Directors and restated statement of profit and loss of company namely ANB METAL CAST LIMITED as set out in Annexure II to this report for 1 April 2024 to 31 March 2025 and the year ended 31 March 2024 and 31 March 2023 are prepared by the management of the Company. These Restated Summary Statement of Profit and Loss have been arrived at after making such adjustments and regroupings to the individual financial statements of the Company, as in our opinion were appropriate and more fully described in Significant Accounting Policies and Notes to Accounts as set out in Annexure IV to this Report.

a) The "Restated Summary Statement of Cash Flow" as set out in Annexure III to this report, of the Company for the period ended on 31 March 2025 is prepared by the Company and approved by the Board of Directors and restated statement of cash flows of company namely ANB METAL CAST LIMITED as set out in Annexure III to this report for 1 April 2024 to 31 March 2025 and the for the year ended 31 March 2024 and 31 March 2023 are prepared by management of the Company. These Restated Summary Statement of Cash Flow have been arrived at after making such adjustments and regroupings to the individual financial statements of the Company, as in our opinion were appropriate and more fully described in Significant Accounting Policies and Notes to Accounts as set out in Annexure IV to this Report.

iv. We have also examined the following other financial information relating to the Company for the year ended 31 March 2025 as approved by the board of directors of the Company and other financial information relating to the company namely ANB METAL CAST LIMITED for the financial year ended on 31 March 2024, 31 March 2023 and annexed to this report and proposed to be included in the Offer Documents.

Annexure No.

Particulars

I

Restated Statement of Assets & Liabilities

10 Restated Statement of Equity Share Capital
11 Restated Statement of Reserve and Surplus
12 Restated Statement of Long Term Borrowings
13 Restated Statement of Other Long Term Liabilities
14 Restated Statement of Long Term Provision
15 Restated Statement of Short Term Borrowings
16 Restated Statement of Trade Payable
17 Restated Statement of Other Current Liabilities
18 Restated Statement of Short Term Provision
1 Restated Statement of Property, Plant and Equipment and Intangible Assets
2 Restated Statement of Non-Current Investments
3 Restated Statement of Deferred Tax Assets (net)
4 Restated Statement of Other Non-Current Assets
5 Restated Statement of Inventories
6 Restated Statement of Trade Receivables
7 Restated Statement of Cash and Cash Equivalents
8 Restated Statement of Short Term Loans And Advances
9 Restated Statement of Other Current Assets

II.

Restated Statement of Profit & Loss

19 Restated Statement of Revenue From Operations
20 Restated Statement of Other Income
21 Restated Statement of Cost of Goods Traded
22 Restated Statement of Employee Benefits Expenses
23 Restated Statement of Finance Costs
24 Restated Statement of Other Expenses
25 Restated Statement of EPS

Other Annexures:

III Statement of Cash Flow, As Restated
IV Statement of Significant Accounting Policies
V Statement of Related Parties & Transactions
VI Statement of Accounting & Other Ratios, As Restated
VII Contingent Liability Disclosure

vii. We, M/s. K M CHAUHAN & ASSOCIATES., Chartered Accountants have been subjected to the peer review process of the

Institute of Chartered Accountants of India ("ICAI") and hold a valid peer review certificate issued by the "Peer Review Board" of the ICAI.

viii. This report should not in any way be construed as a reissuance or re-dating of any of the previous audit reports issued by any other firm of chartered accountants, nor should this report be construed as a new opinion on any of the financial statements referred to herein.

ix. We have no responsibility to update our report for events and circumstances occurring after the date of the report.

x. Our report is intended solely for use of the Board of Directors for inclusion in the Issue Document in connection with the proposed SME IPO. Our report should not be used, referred to, or distributed for any other purpose except with our prior consent in writing. Accordingly, we do not accept or assume any liability or any duty of care for any other purpose or to any other person to whom this report is shown or into whose hands it may come without our prior consent in writing.

For K M CHAUHAN & ASSOCIATES.

Chartered Accountants,

Firm Registration No: 125924W

Sd/-

BHAVDIPBHAI PRAVINBHAI PORIYA

Partner

Membership No: 154536 UDIN: 25154536BMLFCL9964 Date: 18/07/2025 Place: Rajkot

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