INDEPENDENT AUDITORS’ REPORT FORMAT FOR A PRIVATE COMPANY

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KOLKATA-700001

INDEPENDENT AUDITORS’ REPORT FORMAT FOR A PRIVATE COMPANY

 

INDEPENDENT AUDITORS’ REPORT TO THE BOARD OF DIRECTORS OF

STABNET & CO. LIMITED

 

Report on the Financial Statements

 

We have audited the accompanying consolidated financial statements of STABNET & CO.

LIMITED (“the Company”) and its subsidiaries which comprises the consolidated Balance
sheet as at March 31, 2026, and the consolidated Statement of Profit and Loss and the
consolidated Cash Flow Statement for the year then ended and a summary of significant
accounting policies and other explanatory information.

Management’s Responsibility for the Consolidated Financial Statements

Management is responsible for the preparation of these consolidated financial statements
that give a true and fair view of the consolidated financial position, consolidated financial
performance and consolidated cash flows of the Company in accordance with the
accounting principles generally accepted in India. This responsibility includes the design,
implementation and maintenance of internal control relevant to the preparation and
presentation of the consolidated 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 consolidated financial statements
based on our audit. We conducted our audit in accordance with the Standards on
Auditing issued by tile Institute of Chartered Accountants of India. Those Standards
require that we comply with ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the consolidated financial statements are free from
material misstatement

An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the consolidated financial statements. The procedures selected depend on
the auditor’s judgment, including the assessment of the risks of material misstatement of
the consolidated financial statements, whether due to fraud or error, in making those risk
assessments, the auditor considers internal control relevant to the Company’s
preparation and presentation of the consolidated financial statements that give a true and
fair view in order to design audit procedures that are appropriate in the circumstances. An
audit also includes evaluating the appropriateness of accounting policies used and the
reasonableness of the accounting estimates made by management, as well as evaluating
the overall presentation of the consolidated financial statements.

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

Opinion

in our opinion and to the best of our information and according to the explanations given to us, and based on the consideration of the reports of the other auditors on the financial statements of the subsidiaries as noted below, the consolidated financial statements give a true and fair view in conformity with the accounting principles generally accepted in India:-

a)    in the case of the consolidated Balance Sheet of the state of affairs of the Company as at 31st March, 2026;


A. B. GUPTA & CO.

CHARTERED ACCOUNTANTS KOLKATA ♦ NEW DELHI



b)    in the case of consolidated Statement of Profit and Loss, of the Profit for the year ended on that date; and

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

Matter of Emphasis

Without qualifying our opinion, we draw attention to:

a)    Notes 2.10 - Note 3 regarding addition during the year of plant and machinery and Buildings.

b)    Notes 2.27(B) - Note 12 regarding certain transactions of purchase and sales of goods have been directly effected through party accounts.

 

Other Matter

We did not audit the financial statements of subsidiaries, whose financial statements reflect total assets(net) of Rs.1975.87 lacs as at 31st March,2026, total revenues amounting to Rs.Nil and net Cash outflows amounting to Rs.0.10 lacs for the year then ended. These financial statements have been audited by other auditors whose reports have been furnished to us by the Management, and our opinion is based solely on the reports of the other auditors. Our opinion is not qualified in respect of this matter.


                                                                                         For A. B. GUPTA & CO.

                                                                                           Chartered  Accountants


Date-28thMay,2026


A B Gupta, Partner

Membership No. 21212


 

 



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