We have audited the financial statements of BINAYAK TEX PROCESSORS LIMITED(“the
Company”), which comprise the balance sheet as at March 31,2025, and the statement of profit and
loss (including other comprehensive income), statement of changes in equity and statement of cash
flows for the year then ended, and notes to the financial statements, including a summary of
significant accounting policies and other explanatory information (Collectively referred to as
‘standalone financial statements’).
in our opinion and to the best of our information and according to the explanations given to me, the
aforesaid standalone financial statements give the information required by the Companies Act, 2013
in the manner so required and give a true and fair view in conformity with the accounting principles
generally accepted in India, of the state of affairs (financial position) of the Company as at March 31,
2025, and its profit (financial performance including other comprehensive income), changes in equity
and its cash flows for the year ended on that date.
a. In the case of the balance sheet, of the state of affairs of the company as at 31st March
2025,and
b. In the case of the statement of profit and loss, of the profit (financial performance including
other comprehensive income), changes in equity and
c. In the case of the cash flow statement, of the cash flow statement for the year ended on that
date.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section
143(10) of the Companies Act, 2013. Our responsibilities under those Standards are further
described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our
report. We are independent of the Company in accordance with the Code of Ethics issued by the
Institute of Chartered Accountants of India together with the ethical requirements that are relevant to
our audit of the financial statements under the provisions of the Companies Act, 2013 and the Rules
there under, and we have fulfilled our other ethical responsibilities in accordance with these
requirements and the Code of Ethics. We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our opinion.
Basis for Qualified Opinion
The Company has not accounted for liability for gratuity and leave encashment for the year ended 31
March 2025 this is not in accordance with the requirements of Ind AS 19 - Employee Benefits which
requires the Company to accounted for actuarial liability of gratuity and leave encashment, we are
unable to quantify the amount adjustments to these Ind AS financial statements as the Company has
not carried out actuarial valuation of gratuity and leave encashment.
Qualified Opinion
In our opinion and to the best of our information and according to the explanations given to us, except
for the possible effects of the matter described in the Basis for Qualified Opinion paragraph the
aforesaid Ind AS 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 of the state of affairs of the Company as at 31 March 2025, its loss and other comprehensive
income, changes in equity and its cash flows for the year ended on that date.
Key Audit Matters
Key audit matters are those matters that, in our professional judgment, were of most significance. In
our audit of the financial statements of the current period. These matters were addressed in the
context of our audit of the financial statements as a whole, and in forming our opinion thereon,
We have determined that there are no key audit matters to communicate in our report.
Other Information
The Company’s Board of Directors is responsible for the other information. The other information
comprises the information included in the annual report, but does not include the financial statements
and our auditor's report thereon.
Our opinion on the financial statements does not cover the other information and we do not express
any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other
information and, in doing so, consider whether the other information is materially inconsistent with the
financial statements or our knowledge obtained in the audit or otherwise appears to be materially
misstated. If, based on the work we have performed, we conclude that there is a material
misstatement of this other information, we have required to report that fact. We have nothing to report
in this regard.
Responsibility of Management for the Standalone 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 (including
other comprehensive income), changes in equity and cash flows of the Company in accordance with
the accounting principles generally accepted in India, including the. Indian Accounting Standards (‘Ind
AS’) specified under section 133 of the Act. This responsibility also includes maintenance of
adequate accounting records in accordance with the provisions of the Act for safeguarding of 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.
In preparing the financial statements, the Board of Directors is responsible for assessing the
Company’s ability to continue as a going concern, disclosing, as applicable, matters related. to g oing
concern and using the going concern basis of accounting unless the Board of Directors either intends
to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
Boards of Directors are also responsible for overseeing the company’s financial reporting process.
Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole
are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report
that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee
that an audit conducted in accordance with SAs will always detect a material misstatement when it
exists. Misstatements can arise from fraud or error and are considered material if, individually or in
the aggregate, they could reasonably be expected to influence the economic decisions of users taken
on the basis of these financial statements.
As part of an audit in accordance with Standards on Auditing (‘SAs’), we exercise professional
judgment and maintain professional scepticism throughout the audit. We also:
• Identify and assess the risks of material misstatement of the financial statements, whether due.
to fraud or error, design and perform audit procedures responsive to those risks, and obtain
audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not
detecting a material misstatement resulting from fraud is higher than for one resulting from error,
as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the
override of internal control
• Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances. Under section 143(3} of the Act, We are
also responsible for expressing our opinion on whether the company has adequate internal
financial controls system in place and the operating effectiveness of such controls
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by management.
• Conclude on the appropriateness of management’s use of the going concern basis of accounting
and, based on the audit evidence obtained, whether a material uncertainty exists related to
events or conditions that may cast significant doubt on the Company’s ability to continue as a
going concern. If we conclude that a material uncertainty exists, We are required to draw
attention in our auditor’s report to the related disclosures in the financial statements or, if such
disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit
evidence obtained up to the date of our auditor’s report. However, future events or conditions
may cause the Company to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the financial statements, including the
disclosures, and whether the financial statements represent the underlying transactions and
events in a manner that achieves fair presentation.
• Materiality is the magnitude of misstatements in the standalone financial statements that,
individually or in aggregate, makes it probable that the economic decisions of a reasonably
knowledgeable user of the financial statements may be influenced. We consider quantitative
materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the
results of our work; and (ii) to evaluated the effect of any identified misstatements in the financial
statements.
• We communicate with those charged with governance regarding among other matters, the
planned scope and timing of the audit and significant audit findings, including any significant
deficiencies in internal control that we identify during our audit.
• We also provide those charged with governance with a statement that we have complied with
relevant ethical requirements regarding independence, and to communicate with them all
relationships and other matters that may reasonably be thought to bear on our independence,
and where applicable, related safeguards.
• From the matters communicated with those charged with governance, we determine those
matters that were of mist significance in the audit of the standalone financial statements of the
current period and are therefore the key audit matters. We describe these matters in our
auditor’s report unless law or regulation precludes public disclosure
about the matter or when, in extremely rare circumstance, we determine that a matter should not
be communicated in our report because the adverse consequences of doing so would
reasonably be expected to outweigh the public interest benefits of such communication.
• Based on our examination, which included test checks, the Company has used accounting
softwares for maintaining its books of accounts for the financial year ended March 31, 2025
which has a feature of recording audit trail (edit log) facility and the same has operated
throughout the year for all relevant transactions recorded in the softwares. Further, during the
course of our audit we did not come across any instance of the audit trail feature being
tampered with.
As proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014 is applicable from April 1,
2023, reporting under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014 on
preservation of audit trail as per the statutory requirements for record retention is not
applicable for the financial year ended March 31, 2025.
REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS
1. As required by the Companies (Auditor’s Report) Order, 2020 ("the Order”), issued by the
Central Government of India in terms of sub-section (11) of section 143 of the Act, we give in the
"Annexure A” a statement on the matters specified in paragraphs 3 and 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 best of
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 the
company so far as it appears from our examination of those books;
c. The Balance Sheet, the Statement of Profit and Loss, the Statement of Changes In
Equity and the Cash Flow Statement dealt with by this Report are in agreement with
the books of accounts;
d. In our opinion, the aforesaid standalone financial statements comply with the
Indian Accounting Standards prescribed under Section 133 of the Act read with
Companies (Indian Accounting Standard), Rules 2020.
e. On the basis of the written representations received from the directors as on 31 March
2025, taken on record by the Board of Directors, none of the directors is disqualified as
on 31 March 2025, from being appointed as a director in terms of section 164(2) of the
Act;
f. With respect to the adequacy of the internal financial controls over financial
Reporting of the Company and the operating effectiveness of such controls,
Refer to our separate Report in "Annexure B”.
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 :
i. The Company does not have any pending litigations which would impact its
financial position.
ii. The Company did not have any long term contract including derivative contract as
such the question of commenting on any material foreseeable losses thereon does
not arise;
iii. There has been no delay in transferring amounts, required to be transferred, to the
Investor Education and Protection Fund by the Company.
FOR SUNDERLAL DESAI & KANODIA,
CHARTERED ACCOUNTANTS
UDIN: 25033978BMIYZK7611
PLACE: MUMBAI sd/-
DATE: 21/05/2025 (MUKUL B. DESAI)
PARTNER
Membership No: 33978
|