MANAGEMENT'S RESPONSIBILITY FOR THE FINANCIAL STATEMENTS:

The Company's Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 ("the Act") with respect to the preparation of these standalone financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. This responsibility also includes maintenance of adequate accounting records in accordance with the preparation of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

AUDITOR'S RESPONSIBILITY :

Our responsibility is to express an opinion on these standalone financial statements based on our audit.

We have taken into account the provisions of the act, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the act and the rules made thereunder.

We conducted our audit in accordance with the Standards on Auditing specified under section 143(10) of the act. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the Company's preparation and fair presentation of the financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on whether the company has in place an adequate internal financial controls system over financial reporting and the operating effectiveness of such controls. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by Company's Directors , as well as evaluating the overall presentation of the financial statements.

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

Basis for Modified opinion

(i) The retirement and other benefits to employees are not ascertained, disclosed and provided for in accordance with AS- 15 issued in terms of Companies (Accounting Standard) Rules 2006 read with Rule 7 of Companies (Accounts) Rules, 2014 . We are unable to comment on the adequacy of provision for gratuity and retirement benefits in absence of actuarial valuation.

(ii) The balance of various Parties, whether payable or receivable, etc. including old balances appearing under current assets, loans and advances, and current liabilities are subject to confirmation and reconciliation from respective parties.

The effect of such non confirmation and non-reconciliation of balances on the accounts of the company is not ascertainable.

MODIFIED OPINION:

In our opinion and to the best of our information and according to the explanations given to us ,except for the effects of the matter described in the Basis of Opinion paragraph, the financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:-

a) In the case of the Balance Sheet, of the State of Affairs of the Company as at MARCH 31st 2015.

b) In the case of the Profit & Loss Account, of the PROFIT for the year ended on that date; and

c) In the case of the Cash Flow Statement, of the Cash Flows of the Company for the year ended on that date.

Emphasis of Matter

The contingent liabilities as mentioned in Note No. 18 are confirmed by the management and accordingly relied upon by us. Our opinion is not qualified in this respect.

REPORT ON OTHER LEGAL & REGULATORY REQUIREMENTS :

1. As required by the Companies (Auditor's Report) Order, 2015 , issued by the Central Government of India in terms of section 143(11) of the Companies Act 2013, we give in the Annexure a statement on the matters specified in paragraphs 3 and 4 of the Order.

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 best of our knowledge and belief were necessary for the purposes of our audit.

b. Except for the effects of the matter described in the Basis for Modified Opinion paragraph above, in our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examination of those books.

c. The Balance Sheet, the Statement of Profit & Loss and Cash Flow Statement dealt with by this Report are in agreement with the books of account.

d. Excepts for the effects of the matter described in point (i) in the Basis for Modified opinion paragraph above , in our opinion, the aforesaid standalone Financial Statement comply with the Accounting Standard specified under Section 133 of the Act, read with Rule 7 of Companies ( Accounts ) Rules,2014.

e. Excepts for the effects of the matter described in point (i) and (ii) in the basis for Modified opinion paragraph above , in our opinion, the observations and comments of the auditor on the standalone financial matters or transactions does not have any adverse effect on the company.

f On the basis of the written representations received from the directors as on March 31st, 2015, taken on record by the Board of Directors, none of the directors is disqualified as on March 31st, 2015, from being appointed as a director in Terms of Section-164(2) of the Act.

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

a. We are informed that the impact of pending litigations on the financial position of the company is not material to effect the standalone financial statements as of March 31st 2015.

b. The Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses.

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

ANNEXURE TO THE AUDITORS' REPORT

The Annexure referred to in our Independent Auditors' Report to the members of the Company on the financial statements for the year ended 31st March, 2015, we report that:

i) (a) The Company is maintaining proper records showing full particulars including quantitative details and situation of fixed assets.

(b) The management has adopted rotational policy of verification of fixed assets in such a way that all the fixed assets are physically verified during a period of two years. In our opinion the frequency of verification of the fixed assets is reasonable having regard to the size of the company and nature of fixed assets. No material discrepancies were noticed on such verification.

ii) a) As explained to us, the stock of raw materials, work-in-progress and finished goods have been physically verified by the management at reasonable intervals during the year. In respect of stock of stores and spares there is a perpetual inventory system which has not been verified during the year.

(b) In our opinion and according to the information and explanations 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) In our opinion and according to the information and explanation given to us, the Company has maintained proper records of inventories. The discrepancies noticed on physical verification of inventory as compared to the book records were not material having regard to the size of the operation of the company.

iii) a) The Company has granted unsecured loans/advances to the parties covered in the register maintained under section 189 of the Companies Act,2013 during the year. The maximum amount due during the year is Rs.131.90 lacs and the year - end balance is Rs. 0.49 lacs due from one party.

(b) According to the information and explanation given to us, there are no stipulations regarding the repayment of principal amount of interest free unsecured loan granted by the company. In these circumstances the irregularity in the receipt of principal amount could not be ascertained.

(c) Overdue amount is not more than one lakh rupees.

iv) In our opinion and according to the information and explanations given to us, there is an adequate internal control system commensurate with the size of the Company and nature of its business with regard to purchase of inventory, fixed asset and sale of goods and services. We have not observed any major weakness in the internal control system during the course of the audit.

v) The company has not accepted any outstanding deposits as defined in Companies Act ,2013

vi) Central Government has prescribed maintenance of Cost Records U/s-148 (1) of the Companies Act 2013, for the products or services rendered by the company. We have been informed that these records are under preparation.

vii) (a) The Company is regularly depositing the undisputed statutory dues including Provident Fund, Investor Education Protection Fund, Employees' State Insurance, Income-tax, Sales-tax (VAT), Wealth-tax, Service-tax, and other material statutory dues applicable to it with some delay to the appropriate authorities. There are undisputed statutory dues as referred to above as at 31st March,2015 of 0.83 lacs outstanding for a period of more than six months from the date they become payable.

(b) According to the information and explanations given to us, details of dues of Income tax, Service-tax, Sales-tax (VAT),Stamp duty and other statutory material dues, which have not been deposited on account of any dispute are as per details given in note no. 18 of notes to accounts and 'Annexure A' of the Audit Report.

(c) According to the information and explanations given to us the amounts which are required to be transferred to the investor education and protection fund in accordance with the relevant provisions of the Companies Act, 1956 (1 of 1956) and rules made there under has been transferred to such fund within time.

viii) The company does not have any accumulated losses at the end of the financial year and has not incurred any cash losses during the financial year covered under the audit and in the immediately preceding financial year.

ix) According to the information and explanations given to us, the Company has not defaulted in repayment of dues to a bank or financial institutions during the year .

x) According to the information and explanation given to us , the Company has not given any guarantees for loans taken by others from banks or financial institutions.

xi) According to the information and explanations given to us, the Company did not avail any term loan during the year.

xii) To the best of our knowledge and belief and according to the information and explanations given to us, no material fraud on or by the Company was noticed or reported during the year.

                                              For MITTAL GUPTA & CO.,
                                              Chartered Accountants
                                              Firm Regn. No.: 01874C

                                              AKSHAY KUMAR GUPTA
Place : Kanpur                                           Partner
Date : 27.08.2015                              MembershipNo.70744