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Menon Pistons Ltd.

BSE: 531727 Sector: Auto
NSE: N.A. ISIN Code: INE650G01029
BSE 15:41 | 27 Mar 2018 Menon Pistons Ltd
NSE 05:30 | 01 Jan 1970 Menon Pistons Ltd
OPEN 26.20
VOLUME 12973
52-Week high 39.20
52-Week low 18.85
P/E 18.51
Mkt Cap.(Rs cr) 133
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 26.20
CLOSE 25.05
VOLUME 12973
52-Week high 39.20
52-Week low 18.85
P/E 18.51
Mkt Cap.(Rs cr) 133
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Menon Pistons Ltd. (MENONPISTONS) - Auditors Report

Company auditors report





We have audited the accompanying financial statements of MENON PISTONS LIMITED("the company")which comprise the Balance Sheet as at 31 March 2016 theStatement of Profit and Loss the Cash Flow Statement for the year then ended and asummary of significant accounting policies and other explanatory information.


The Company's Board of Directors is responsible for the matters in section 134(5) ofthe Compnies Act 2013("the Act") with respect to the preparation andpresentation of these financial statements that give a true and fair view of the financialposition financial performance and cash flows of the Company in accordance with theaccounting principles generally accepted in India including the Accounting Standardsspecified under Section 133 of the Act read with Rule 7 of the Companies (Accounts)Rules 2014. This responsibility also includes the maintenance of adequate accountingrecords in accordance with the provision of the Act for safeguarding of the assets of theCompany and for preventing and detecting the frauds and other irregularities; selectionand application of appropriate accounting policies; making judgments and estimates thatare reasonable and prudent; and design implementation and maintenance of adequateinternal financial control that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe financial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.


Our responsibility is to express an opinion on these financial statements based on ouraudit. We have taken into account the provisions of the Act the accounting and auditingstandards and matters which are required to be included in the audit report under theprovisions of the Act and the Rules made thereunder.

We conducted our audit in accordance with the Standards on Auditing specified undersection 143(10) of the Act. Those Standards require that we comply with ethicalrequirements and plan and perform the auditto obtain reasonable assurance about whetherthe financial statements are free from material misstatement. An audit involves performingprocedures to obtain audit evidence about the amounts and disclosures in the financialstatements. The procedures selected depend on the auditor's judgment including theassessment of the risks of material misstatement of the financial statements whether dueto fraudor error. In making those risk assessments the auditor considers internalfinancial control relevant to the Company's preparation of the financial statements thatgive true arid fair view in order to design audit procedures that are appropriate in thecircumstances but not for the purpose of expressing an opinion on whether the company hasin place an adequate internal financial controls system over financial reporting and theoperating effectiveness of such controls. An audit also includes evaluating theappropriateness of accounting policies used and the reasonableness of the accountingestimates made by Company's Directors as well as evaluating the overall presentation ofthe financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the financial statements.


In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid financial statements is presented in accordance with SEBI(Listing Obligation and Disclosures Requirements) Regulations 2015 and the Act give theinformation in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India;

a) in the case of the Balance Sheet of the state of affairs of the Company as at March312016;

b) in the case of the Statement of Profit and Loss of the profit for the year ended onthat date; and

c) in the case of the Cash Flow Statement of the cash flows for the year ended on thatdate.


There are no such matters mentioned in the Notes to the financial statements.


As required by the Companies (Auditor's Report) Order 2016 issued by the CentralGovernment of India in terms of Section 143 (3) of the Companies Act 2013 we give in theAnnexure a statement on the matters specified in paragraphs 3 and 4 of the Ordertotheextent applicable:

a) We have sought and obtained all the information and explanations which to the bestof our knowledge and belief were necessary for the purposes 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 the Statement of Profit and Loss and Cash Flow Statement dealtwith by this Report are in agreement with the books of account.

d) In our opinion the aforesaid financial statements comply with the AccountingStandards specified under Section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014.

e) There are no such matters under the Emphasis of Matters paragraph above.

f) On the basis of written representations received from the directors as on 31 March2016 taken on record by the Board of Directors none of the directors is disqualified ason 31 March 2016 from being appointed as a director in terms of Section 164(2) of theAct.

g) The Company has properly maintained the accounts as required under applicable lawsrules & regulations.

h) In our opinion and according to the information and explanations given to us theCompany has adequate internal financial controls system and the said system is workingeffectively.

j) With respect to the other matters to be included in the Auditor's Report inaccordance with Rule 11 of the Companies (Audit and Auditors)Rules2014 and to best of ourinformation and according to the explanations given to us:

i. The Company does not have any pending litigations which would impact its financialposition.

ii. The Company did not have any long-term contracts including derivatives contracts ofwhich there were any material foreseeable losses.

iii. There has been no delay in transferring amounts required to be transferred tothe Investor Education and Protection Fund by the Company.

For M/S P. M. VARDHE & CO.
Chartered Accountants
P. M. Vardhe
Place: Kolhapur Membership No. 031817
Date : 18.05.2016 FRN. 111274W