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Rubfila International Ltd.

BSE: 500367 Sector: Others
NSE: RUBFILINTL ISIN Code: INE642C01025
BSE 16:01 | 27 Mar 2018 Rubfila International Ltd
NSE 05:30 | 01 Jan 1970 Rubfila International Ltd
OPEN 74.90
PREVIOUS CLOSE 73.50
VOLUME 16490
52-Week high 100.00
52-Week low 42.00
P/E 15.71
Mkt Cap.(Rs cr) 332
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 74.90
CLOSE 73.50
VOLUME 16490
52-Week high 100.00
52-Week low 42.00
P/E 15.71
Mkt Cap.(Rs cr) 332
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Rubfila International Ltd. (RUBFILINTL) - Auditors Report

Company auditors report

To the members of Rubfila International Limited

Report on Financial statements

We have audited the accompanying financial statements of Rubfila International Limitedwhich comprise Balance Sheet as at 31st March 2015 the Statement of Profit and Loss andCash Flow Statement for the year then ended and a summary of significant accountingpolicies and other explanatory information.

Management's Responsibility for the Financial Statements

The Company's Board of Directors is responsible for the matters stated in section134(5) of the Companies Act 2013 ("the Act") with respect to the preparation ofthese financial statements that give a true and fair view of the financial positionfinancial performance and cash flows of the Company in accordance with the accountingprinciples generally accepted in India including the Accounting Standards specified underSection 133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014. Thisresponsibility also includes the maintenance of adequate accounting records in accordancewith the provision of the Act for safeguarding of the assets of the Company and forpreventing and detecting the frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of adequate internal financialcontrols that were operating effectively for ensuring the accuracy and completeness ofthe accounting records relevant to the preparation and presentation of the financialstatements that give a true and fair view and are free from material misstatement whetherdue to fraud or error.

Auditors' Responsibility

Our responsibility is to express an opinion on these standalone financial statementsbased on our audit. We have taken into account the provisions of the Act the accountingand auditing standards and matters which are required to be included in the audit reportunder the provisions of the Act and the Rules made there under.

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 audit to obtain reasonable assurance about whetherthe financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures in the financial statements. The procedures selected depend on theauditor's judgment including the assessment of the risks of material misstatement of thefinancial statements whether due to fraud or error. In making those risk assessments theauditor considers internal financial control relevant to the Company’s preparation ofthe financial statements that give true and fair view in order to design audit proceduresthat are appropriate in the circumstances but not for the purpose of expressing anopinion on whether the Company has in place an adequate internal financial controls systemover financial reporting and the operating effectiveness of such controls. An audit alsoincludes evaluating the appropriateness of accounting policies used and the reasonablenessof the accounting estimates made by Company's Directors as well as evaluating the overallpresentation of the financial statements.

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

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid financial statements give the information required by the Actin the manner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India

a) In the case of Balance Sheet of the state of affairs of the company as at 31st March2015:

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

Report on other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2015 ("the Order")issued by the Central Government of India in terms of sub-section (11) of section 143 ofthe Act we give in the Annexure a statement on the matters specified in the paragraph 3and 4 of the Order to the extent applicable.

2. As required by section 143(3) of the Act we report that:

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 standalone financial statements comply with theAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014;

e. on the basis of written representations received from the directors as on 31 March2015 taken on record by the Board of Directors none of the directors is disqualified ason 31 March 2015 from being appointed as a director in terms of Section 164(2) of theAct; and

f. with respect to the other matters to be included in the Auditor's Report inaccordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinionand to the best of our information and according to the explanations given to us:

i. the Company has disclosed the impact of pending litigations on its financialposition in its financial statements

ii. the Company did not have any long-term contracts including derivatives contractsfor which there were any material foreseeable losses;

iii. there were no amounts which were required to be transferred to the InvestorEducation and Protection Fund by the Company.

For MOHAN & MOHAN ASSOCIATES

Chartered Accountants

R.SURESH MOHAN

(Partner)

Mem No. 13398.

Firm No. 02092 S

Place :Thiruvananthapuram

Date : 29-05-201 5

ANNEXURE TO INDEPENDENT AUDITORS' REPORT

In the Annexure referred to in our Independent Auditor's Report to the members of theCompany' on the financiaI statements for the year ended 31 March 201 5 we report that:

i. a. The Company is maintaining proper records showing full particulars includingquantitative details and situation of fixed assets.

b. The fixed assets are physically verified by the Management according to a phasedprogramme designed to cover all the items over a period of year which in our opinion isreasonable having regard to the size of the Company and the nature of its assets. Pursuantto the programme the fixed assets have been physically verified by the Management duringthe year and no material discrepancies have been noticed on such verification.

ii. a. The inventory excluding stocks with third parties has been physically verifiedby the Management during the year. In respect of inventory lying with third parties thesehave substantially been confirmed by them. In our opinion the frequency of verificationis reason able.

b. In our opinion the procedures of physical verification of inventory followed by theManagement 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 the inventory records in our opinion theCompany is maintaining proper records of inventory. The discrepancies noticed on physicalverification of inventory as compared to book records were not material.

iii. The Company has not granted any loans secured or unsecured to companies firmsor other parties covered in the register maintained under Section 189 of the Act.Therefore the provisions of Clause 3(iii)(a> and (iii)(b) of the said Order are notapplicable to the Company.

iv. In our opinion and according to the information and explanations given to usthere is an adequate internal control system commensurate with the size of the Company andthe nature of its business for the purchase of inventory and fixed assets and for the saleof goods and services. Further on the basis of our examination of the books and recordsof the Company and according to the information and explanations given to us we haveneither come across nor have been informed of any continuing failure to correct majorweak nesses in the aforesaid internal control system.

v. The Company has not accepted any deposits from the public within the meaning ofSections 73 74 75 and 76 of the Act and the rules framed there under to the extentnotified.

vi. We have broadly reviewed the books of account maintained by the Company in respectof products where pursuant to the rules made by the Central Government of India themaintenance of cost records has been specified under subsection (1) of Section 148 of theAct and are of the opinion that prima facie the prescribed accounts and records havebeen made and maintained. We have not however made a detailed examination of the recordswith a view to determine whether they a re accurate or complete.

vii. a. According to the information and explanations given to us and the records ofthe Company examined by us in our opinion the Company is regular in depositing theundisputed statutory dues including provident fund employees' state insurance incometax sales tax wealth tax service tax duty of customs duty of excise value added taxand other material statutory dues as applicable with the appropriate authorities.

b. According to the information and explanations given to us and the records of theCompany examined by us there are no dues of wealth-tax service-tax duty of customs andduty of excise which have not been deposited on account of any dispute. The particulars ofdues of sales tax and value added tax as at March 312015 which have not been depositedon account of a dispute are as follows:

' Nature of Dues Forum before which the dispute is pending Period Demand Provision
Rs in Lakhs Rs in Lakhs
KGST Dy. Commissioner (Appeals) Emakulam 2002-03 Rs. 395.37 Rs. 7.24
-do- 2003-04 Rs. 167.16 Rs. 0.81
-do- 2004-05 Rs. 173.31 Rs.0.46
CST -do- 2002-03 Rs. 125.75 Rs. 77.17
-do- 2003-04 Rs. 145.61 Rs. 44.26
V -do- 2004-05 Rs. 108.30 Rs. 34.68

viii. The Company has no accumulated losses as at the end of the financial year and ithas not incurred any cash losses in the financial year ended on that date or in theimmediately preceding financial year.

ix. As the Company does not have any borrowings from any financial institution or bank;nor has it issued any debentures as at the balance sheet date the provisions of Clause3(ix) of the Order are not applicable to the Company.

x. In our opinion and according to the information and explanations given to us theCompany has not given any guarantee for loans taken by others from banks or financialinstitutions during the year. Accordingly the provisions of Clause 3(x) of the Order arenot applicable to the Company.

xi. The Company has not raised any term loans. Accordingly the provisions of Clause3(xi) of the Order are not applicable to the Company.

xii. During the course of our examination of the books and records of the Companycarried out in accordance with the generally accepted auditing practices in India andaccording to the information and explanations given to us we have neither come across anyinstance of material fraud on or by the Company noticed or reported during the year norhave we been informed of any such case by the Management.

For MOHAN& MOHAN ASSOCIATES

Chartered Accountants

R.SURESH MOHAN

(Partner)

Mem No. 13398.

Firm No. 02092 S

Place : Thiruvananthapuram

Date : 29-05-2015